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II, filed with the Securities Exchange Commission (the \"SEC\") on September 15, 2020 (the \"September 15 Current Report\"), in which Social Capital Hedosophia Holdings Corp. II reported, among other events, the execution of the Merger Agreement (as defined below)." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b41", + "block_sequence": 41, + "block_sha256": "3e937cefe57245dcb27e1369997f7aa3e3bb53af0e5cb5909810054203bf25f0", + "block_type": "heading", + "char_count": 53, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", + "block_sequence": 41, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "075bee8c5229026ca5ac4b0bd887753664db1ccf9c191ef792ac2974d050068e", + "heading_path": [ + "FORM 8-K/A", + "Item 1.01 Entry into a Material Definitive Agreement." + ], + "table_index": null, + "tag_name": "b" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", + "table": null, + "text": "Item 1.01 Entry into a Material Definitive Agreement." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b42", + "block_sequence": 42, + "block_sha256": "373ac20a9a616f8af519e9e9bb34f3101e1caafa848286e38f7612b011aedcfb", + "block_type": "paragraph", + "char_count": 17413, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", + "block_sequence": 42, + "char_end": 17413, + "char_start": 0, + "fragment_sha256": "747a208aa7cba6f499e98b8aee8169491ea38907ff6a9b2bb5676fd783665a53", + "heading_path": [ + "FORM 8-K/A", + "Item 1.01 Entry into a Material Definitive Agreement." + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", + "table": null, + "text": "Merger Agreement Social Capital Hedosophia Holdings Corp. II is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (\"SCH\"). As previously disclosed in the September 15 Current Report, on September 15, 2020, SCH entered into an Agreement and Plan of Merger (the \"Merger Agreement\") with Hestia Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of SCH (\"Merger Sub\") and Opendoor Labs Inc., a Delaware corporation (\"Opendoor\"). The Merger The Merger Agreement provides that, among other things and upon the terms and subject to the conditions thereof, the following transactions will occur (together with the other agreements and transactions contemplated by the Merger Agreement, the \"Business Combination\"): (i) at the closing of the transactions contemplated by the Merger Agreement (the \"Closing\"), upon the terms and subject to the conditions of the Merger Agreement, (x) in accordance with the Delaware General Corporation Law, as amended (\"DGCL\"), Merger Sub will merge with and into Opendoor, the separate corporate existence of Merger Sub will cease and Opendoor will be the surviving corporation and a wholly owned subsidiary of SCH (the \"Merger\"); (ii) as a result of the Merger, among other things, all outstanding shares of common stock of Opendoor will be cancelled in exchange for the right to receive, in the aggregate, a number of shares of SCH Common Stock (as defined below) equal to the quotient obtained by dividing (x) $5,000,000,000 by (y) $10.00; and (iii) upon the effective time of the Merger (the \"Effective Time\"), SCH will immediately be renamed \"Opendoor Technologies Inc.\" The Board of Directors of SCH (the \"Board\") has unanimously (i) approved and declared advisable the Merger Agreement, the Business Combination and the other transactions contemplated thereby and (ii) resolved to recommend approval of the Merger Agreement and related matters by the shareholders of SCH. The Domestication Prior to the Closing, subject to the approval of SCH's shareholders, and in accordance with the DGCL, Cayman Islands Companies Law (2020 Revision) (the \"CICL\") and SCH's Amended and Restated Memorandum and Articles of Association (as may be amended from time to time, the \"Cayman Constitutional Documents\"), SCH will effect a deregistration under the CICL and a domestication under Section 388 of the DGCL (by means of filing a certificate of domestication (the \"Certificate of Domestication\") with the Secretary of State of Delaware), pursuant to which SCH's jurisdiction of incorporation will be changed from the Cayman Islands to the State of Delaware (the \"Domestication\"). In connection with the Domestication, (i) each of the then issued and outstanding Class A ordinary shares, par value $0.0001 per share, of SCH (the \"SCH Class A Ordinary Shares\"), will convert automatically, on a one-for-one basis, into a share of common stock, par value $0.0001, per share of SCH (after its Domestication) (the \"SCH Common Stock\"), (ii) each of the then issued and outstanding Class B ordinary shares, par value $0.0001 per share, of SCH (the \"SCH Class B Ordinary Shares\"), will convert automatically, on a one-for-one basis, into a share of SCH Common Stock, (iii) each then issued and outstanding warrant of SCH will convert automatically into a warrant to acquire one share of SCH Common Stock (\"Domesticated SCH Warrant\"), pursuant to the Warrant Agreement, dated April 27, 2020, between SCH and Continental Stock Transfer & Trust Company, as warrant agent, and (iv) each then issued and outstanding unit of SCH (the \"Cayman SCH Units\") will convert automatically into a unit of SCH (after the Domestication) (the \"Domesticated SCH Units\"), with each Domesticated SCH Unit representing one share of SCH Common Stock and one-third of one Domesticated SCH Warrant. Conditions to Closing The Merger Agreement is subject to the satisfaction or waiver of certain customary closing conditions, including, among others, (i) approval of the Business Combination and related agreements and transactions by the respective shareholders of SCH and Opendoor, (ii) effectiveness of the proxy / registration statement on Form S-4 to be filed by SCH in connection with the Business Combination, (iii) expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, (iv) receipt of approval for listing on the NYSE or NASDAQ the shares of SCH Common Stock to be issued in connection with the Merger, (v) that SCH have at least $5,000,001 of net tangible assets upon Closing and (vi) the absence of any injunctions. In addition, prior to the Closing, Opendoor will consummate the restructuring transactions as set forth in the Merger Agreement (the \"Pre-Closing Restructuring\"), and it is a condition to the obligations of SCH and Merger Sub to consummate the Merger that the Pre-Closing Restructuring has been completed. Other conditions to Opendoor's obligations to consummate the Merger include, among others, that as of the Closing, (i) the Domestication has been completed, (ii) the amount of cash available in (x) the trust account into which substantially all of the proceeds of SCH's initial public offering and private placements of its warrants have been deposited for the benefit of SCH, certain of its public shareholders and the underwriters of SCH's initial public offering (the \"Trust Account\"), after deducting the amount required to satisfy SCH's obligations to its shareholders (if any) that exercise their rights to redeem their SCH Class A Ordinary Shares pursuant to the Cayman Constitutional Documents (but prior to payment of (a) any deferred underwriting commissions being held in the Trust Account and (b) any transaction expenses of SCH or its affiliates) (the \"Trust Amount\") plus (y) the PIPE Investment (as defined below), is at least equal to or greater than $550,000,000; provided, that there is a mutual condition that the Trust Amount plus the Third Party PIPE Investment (as defined in the Merger Agreement) be at least $200,000,000. Covenants The Merger Agreement contains additional covenants, including, among others, providing for (i) the parties to conduct their respective businesses in the ordinary course through the Closing, (ii) the parties to not initiate any negotiations or enter into any agreements for certain alternative transactions, (iii) Opendoor to prepare and deliver to SCH certain audited and unaudited consolidated financial statements of Opendoor, (iv) SCH to prepare and file a proxy / registration statement on Form S-4 and take certain other actions to obtain the requisite approval of SCH shareholders of certain proposals regarding the Business Combination (including the Domestication), and (v) the parties to use reasonable best efforts to obtain necessary approvals from governmental agencies. Representations and Warranties The Merger Agreement contains customary representations and warranties by SCH, Merger Sub and Opendoor. The representations and warranties of the respective parties to the Merger Agreement generally will not survive the Closing. Termination The Merger Agreement may be terminated at any time prior to the Closing (i) by mutual written consent of SCH and Opendoor, (ii) by Opendoor, if certain approvals of the shareholders of SCH, to the extent required under the Merger Agreement, are not obtained as set forth therein or if there is a Modification in Recommendation (as defined in the Merger Agreement), (iii) by SCH, if certain approvals of the stockholders of Opendoor, to the extent required under the Merger Agreement, are not obtained within five business days after the proxy / registration statement on Form S-4 has been declared effective by the SEC and delivered or otherwise made available Opendoor\u2019s stockholders, (iv) by either SCH or Opendoor in certain other circumstances set forth in the Merger Agreement, including (a) if any Governmental Authority (as defined in the Merger Agreement) shall have issued or otherwise entered a final, nonappealable order making consummation of the Merger illegal or otherwise preventing or prohibiting consummation of the Merger and (b) in the event of certain uncured breaches by the other party or if the Closing has not occurred on or before 180 days after the date of the Merger Agreement (the \"Agreement End Date\"). Certain Related Agreements Subscription Agreements As disclosed in the Previous Current Report, on September 15, 2020, concurrently with the execution of the Merger Agreement, the Company entered into subscription agreements (the \"Subscription Agreements\") with certain investors (collectively, the \"PIPE Investors\"), pursuant to, and on the terms and subject to the conditions of which, the PIPE Investors have collectively subscribed for 60,005,000 shares of the SCH Common Stock for an aggregate purchase price equal to $600,050,000 million (the \"PIPE Investment\"), a portion of which is expected to be funded by (i) one or more affiliates of SCH Sponsor II LLC (the \"Sponsor\" and collectively, the \"Sponsor Related PIPE Investors\"), (ii) existing Opendoor investors (the \"Opendoor-Related PIPE Investors\") and (iii) certain additional investors (which may include mutual funds and existing shareholders of SCH). The PIPE Investment will be consummated substantially concurrently with the Closing. The Subscription Agreements for the PIPE Investors (other than the Sponsor Related PIPE Investors and Opendoor-Related PIPE Investors, whose registration rights are governed by the Amended and Restated Registration Rights Agreement described below (the \"Non-Insider PIPE Investors\")), provide for certain registration rights. In particular, SCH is required to, as soon as practicable but no later than 30 calendar days following the Closing, submit to or file with the SEC a registration statement registering the resale of such shares. Additionally, SCH is required to use its commercially reasonable efforts to have the registration statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the filing date thereof if the SEC notifies the Company that it will \u201creview\u201d the registration statement and (ii) the 10th business day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that the registration statement will not be \u201creviewed\u201d or will not be subject to further review. The Company must use commercially reasonable efforts to keep the registration statement effective until the earliest of: (i) the date the Non-Insider PIPE Investors no longer hold any registrable shares, (ii) the date all registrable shares held by the Non-Insider PIPE Investors may be sold without restriction under Rule 144 and (C) two years from the date of effectiveness of the registration statement. The Subscription Agreements will terminate with no further force and effect upon the earliest to occur of: (a) such date and time as the Merger Agreement is terminated in accordance with its terms; (b) the mutual written agreement of the parties to such Subscription Agreement; (c) if any of the conditions to closing set forth in such Subscription Agreement are not satisfied on or prior to the Closing and, as a result thereof, the transactions contemplated by the Subscription Agreement fail to occur; and (d) March 31, 2021. The foregoing description of the Subscription Agreements does not purport to be complete and is qualified in its entirety by the terms and conditions of the form of Subscription Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. Sponsor Support Agreement As previously disclosed in the September 15 Current Report, on September 15, 2020, SCH announced entry into a Support Agreement (the \"Sponsor Support Agreement\"), by and among SCH, the Sponsor, and Opendoor, pursuant to which the Sponsor and each director of SCH agreed to, among other things, vote in favor of the Merger Agreement and the transactions contemplated thereby, in each case, subject to the terms and conditions contemplated by the Sponsor Support Agreement. Company Support Agreement As previously disclosed in the September 15 Current Report, on September 15, 2020, SCH also announced entry into a Support Agreement (the \"Company Support Agreement\"), by and among SCH, Opendoor and certain stockholders of Opendoor (the \"Key Stockholders\"). Under the Company Support Agreement, the Key Stockholders agreed, within forty-eight hours following the SEC declaring effective the proxy statement/prospectus relating to the approval by SCH stockholders of the Business Combination, to execute and deliver a written consent with respect to the outstanding shares of Opendoor common stock and preferred stock held by the Key Stockholders adopting the Merger Agreement and related transactions and approving the Business Combination. The shares of Opendoor common stock and preferred stock that are owned by the Key Stockholders and subject to the Company Support Agreements represent a majority of the outstanding voting power of Opendoor common stock and preferred stock (on an as converted basis). Transfer Restrictions and Registration Rights The Merger Agreement contemplates that, at the Closing, SCH, Opendoor, the Major Company Stockholders (as defined in the Merger Agreement) and certain of their respective affiliates and will enter into an Amended and Restated Registration Rights Agreement (the \"Registration Rights Agreement\"), pursuant to which SCH will agree to register for resale, pursuant to Rule 415 under the Securities Act, certain shares of SCH Common Stock and other equity securities of SCH that are held by the parties thereto from time to time. Additionally, the Registration Rights Agreement and the Bylaws of SCH contain certain restrictions on transfer with respect to the shares of SCH Common Stock held by the Sponsor or the former Opendoor stockholders immediately following Closing (the \"Lock-up Shares\"). Such restrictions begin at Closing and end on the earlier of (i) the date that is 180 days after Closing and (ii)(a) for 33.33% of the Lock-up Shares, the date on which the last reported sale price of SCH Common Stock equals or exceeds $12.50 per share for any 20 trading days within any 30-trading day period commencing at least 30 days after Closing and (b) for an additional 50% of the Lock-up Shares, the date on which the last reported sale price of SCH Common Stock equals or exceeds $15.00 per share for any 20 trading days within any 30-trading day period commencing at least 30 days Closing. The foregoing description of the Merger Agreement, Subscription Agreements, Sponsor Support Agreement and Company Support Agreement, and the transactions and documents contemplated thereby, is not complete and is subject to and qualified in its entirety by reference to the Merger Agreement, Subscription Agreements, the Sponsor Support Agreement and the Company Support Agreement, copies of which are filed with this Current Report on Form 8-K as Exhibit 2.1, Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3, respectively, and the terms of which are incorporated by reference herein. The Merger Agreement, Subscription Agreements, the Sponsor Support Agreement and the Company Support Agreement have been included to provide investors with information regarding its terms. They are not intended to provide any other factual information about SCH or its affiliates. The representations, warranties, covenants and agreements contained in the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement, the Company Support Agreement and the other documents related thereto were made only for purposes of the Merger Agreement as of the specific dates therein, were solely for the benefit of the parties to the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement and the Company Support Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement or Company Support Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement or the Company Support Agreement and should not rely on the representations, warranties, covenants and agreements or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the date of the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement or the Company Support Agreement, as applicable, which subsequent information may or may not be fully reflected in the SCH's public disclosures." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b43", + "block_sequence": 43, + "block_sha256": "1867cf7efc3681fe56c98ca6a2c956d38ad8073f5b0902738c779ee34a9e8db4", + "block_type": "page_number", + "char_count": 24, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", + "block_sequence": 43, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "3fbb905220f101d9c5c9d63b9d5a46fd56b5d58c24a4495c6104671f59101270", + "heading_path": [ + "FORM 8-K/A", + "Item 1.01 Entry into a Material Definitive Agreement." + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", + "table": null, + "text": "Field: Page; 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The shares of SCH Common Stock to be issued in connection with the PIPE Investment will not be registered under the Securities Act of 1933, as amended (the \"Securities Act\"), and will be issued in reliance on the exemption from registration requirements thereof provided by Section 4(a)(2) of the Securities Act. Additional Information and Where to Find It This Current Report on Form 8-K relates to a proposed transaction between Opendoor and SCH. This Current Report on Form 8-K does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. SCH intends to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the \"SEC\"), which will include a document that serves as a prospectus and proxy statement of SCH, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all SCH shareholders. SCH also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of SCH are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by SCH through the website maintained by the SEC at www.sec.gov. The documents filed by SCH with the SEC also may be obtained free of charge at SCH's website at http://www.socialcapitalhedosophiaholdings.com/docsb.html or upon written request to 317 University Ave, Suite 200, Palo Alto, California 94301. Participants in Solicitation SCH and its directors and executive officers may be deemed to be participants in the solicitation of proxies from SCH's shareholders in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph. Forward-Looking Statements Legend This Current Report on Form 8-K contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Opendoor and SCH. These forward-looking statements generally are identified by the words \"believe,\" \"project,\" \"expect,\" \"anticipate,\" \"estimate,\" \"intend,\" \"strategy,\" \"future,\" \"opportunity,\" \"plan,\" \"may,\" \"should,\" \"will,\" \"would,\" \"will be,\" \"will continue,\" \"will likely result,\" and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of SCH's securities, (ii) the risk that the transaction may not be completed by SCH's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SCH, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Merger Agreement by the shareholders of SCH, the satisfaction of the minimum Trust Account amount following redemptions by SCH's public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the inability to complete the PIPE Investment, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Opendoor's business relationships, operating results, and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Opendoor, (ix) the outcome of any legal proceedings that may be instituted against Opendoor or against SCH related to the Merger Agreement or the proposed transaction, (x) the ability to maintain the listing of SCH's securities on a national securities exchange, (xi) changes in the competitive and regulated industries in which Opendoor operates, variations in operating performance across competitors, changes in laws and regulations affecting Opendoor's business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in the highly competitive residential real estate industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the \"Risk Factors\" section of SCH's registration on Form S-1 (File No. 333-237864), the registration statement on Form S-4 discussed above and other documents filed by SCH from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Opendoor and SCH assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: x Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b34"], "char_count": 515, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1cd2400f6d9a0e828aab5e9718d406c335d28348083c1f96f12b8083c290cae3", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", 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"company_name": "Opendoor Technologies Inc.", "content_sha256": "2ab45505b444432b428bbef8754d997a41ab0e38aeff8b0a20ea4dc3175efcd7", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "OF THE SECURITIES EXCHANGE ACT OF 1934", "Not Applicable"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 35, "char_end": 563, "char_start": 0, "fragment_sha256": "f436ea3e7aa2458e2b4df6d6e63b3eec71da2b403155fcbdd411619ecd016f19", "heading_path": ["FORM 8-K/A", "OF THE SECURITIES EXCHANGE ACT OF 1934", "Not Applicable"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s13", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company x If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Field: Page; Sequence: 1; Options: NewSection"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b40"], "char_count": 358, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ff6edaee73f90fb2898aeb425fe56d81ebad5882deca7e60a767cd5854902900", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "OF THE SECURITIES EXCHANGE ACT OF 1934", "Explanatory Note"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 40, "char_end": 358, "char_start": 0, "fragment_sha256": "93ea2d18f521a9c7bbf5f704b80140f83999f9b904abd546cfd191f003117165", "heading_path": ["FORM 8-K/A", "OF THE SECURITIES EXCHANGE ACT OF 1934", "Explanatory Note"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s14", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "This Amendment amends the Current Report on Form 8-K of Social Capital Hedosophia Holdings Corp. II, filed with the Securities Exchange Commission (the \"SEC\") on September 15, 2020 (the \"September 15 Current Report\"), in which Social Capital Hedosophia Holdings Corp. II reported, among other events, the execution of the Merger Agreement (as defined below)."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b42"], "char_count": 2824, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "57aaf298748b825aacb75a1726904d36aebcfdf693b0edcd36915d58cd382d2f", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 42, "char_end": 2824, "char_start": 0, "fragment_sha256": "747a208aa7cba6f499e98b8aee8169491ea38907ff6a9b2bb5676fd783665a53", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Merger Agreement Social Capital Hedosophia Holdings Corp. II is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (\"SCH\"). As previously disclosed in the September 15 Current Report, on September 15, 2020, SCH entered into an Agreement and Plan of Merger (the \"Merger Agreement\") with Hestia Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of SCH (\"Merger Sub\") and Opendoor Labs Inc., a Delaware corporation (\"Opendoor\"). The Merger The Merger Agreement provides that, among other things and upon the terms and subject to the conditions thereof, the following transactions will occur (together with the other agreements and transactions contemplated by the Merger Agreement, the \"Business Combination\"): (i) at the closing of the transactions contemplated by the Merger Agreement (the \"Closing\"), upon the terms and subject to the conditions of the Merger Agreement, (x) in accordance with the Delaware General Corporation Law, as amended (\"DGCL\"), Merger Sub will merge with and into Opendoor, the separate corporate existence of Merger Sub will cease and Opendoor will be the surviving corporation and a wholly owned subsidiary of SCH (the \"Merger\"); (ii) as a result of the Merger, among other things, all outstanding shares of common stock of Opendoor will be cancelled in exchange for the right to receive, in the aggregate, a number of shares of SCH Common Stock (as defined below) equal to the quotient obtained by dividing (x) $5,000,000,000 by (y) $10.00; and (iii) upon the effective time of the Merger (the \"Effective Time\"), SCH will immediately be renamed \"Opendoor Technologies Inc.\" The Board of Directors of SCH (the \"Board\") has unanimously (i) approved and declared advisable the Merger Agreement, the Business Combination and the other transactions contemplated thereby and (ii) resolved to recommend approval of the Merger Agreement and related matters by the shareholders of SCH. The Domestication Prior to the Closing, subject to the approval of SCH's shareholders, and in accordance with the DGCL, Cayman Islands Companies Law (2020 Revision) (the \"CICL\") and SCH's Amended and Restated Memorandum and Articles of Association (as may be amended from time to time, the \"Cayman Constitutional Documents\"), SCH will effect a deregistration under the CICL and a domestication under Section 388 of the DGCL (by means of filing a certificate of domestication (the \"Certificate of Domestication\") with the Secretary of State of Delaware), pursuant to which SCH's jurisdiction of incorporation will be changed from the Cayman Islands to the State of Delaware (the \"Domestication\")."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b42"], "char_count": 3412, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6adacc6ec203b56de6917a52c4da6b223bbae3e36c859f2d6a873959feca3745", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 42, "char_end": 6236, "char_start": 2824, "fragment_sha256": "747a208aa7cba6f499e98b8aee8169491ea38907ff6a9b2bb5676fd783665a53", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "In connection with the Domestication, (i) each of the then issued and outstanding Class A ordinary shares, par value $0.0001 per share, of SCH (the \"SCH Class A Ordinary Shares\"), will convert automatically, on a one-for-one basis, into a share of common stock, par value $0.0001, per share of SCH (after its Domestication) (the \"SCH Common Stock\"), (ii) each of the then issued and outstanding Class B ordinary shares, par value $0.0001 per share, of SCH (the \"SCH Class B Ordinary Shares\"), will convert automatically, on a one-for-one basis, into a share of SCH Common Stock, (iii) each then issued and outstanding warrant of SCH will convert automatically into a warrant to acquire one share of SCH Common Stock (\"Domesticated SCH Warrant\"), pursuant to the Warrant Agreement, dated April 27, 2020, between SCH and Continental Stock Transfer & Trust Company, as warrant agent, and (iv) each then issued and outstanding unit of SCH (the \"Cayman SCH Units\") will convert automatically into a unit of SCH (after the Domestication) (the \"Domesticated SCH Units\"), with each Domesticated SCH Unit representing one share of SCH Common Stock and one-third of one Domesticated SCH Warrant. Conditions to Closing The Merger Agreement is subject to the satisfaction or waiver of certain customary closing conditions, including, among others, (i) approval of the Business Combination and related agreements and transactions by the respective shareholders of SCH and Opendoor, (ii) effectiveness of the proxy / registration statement on Form S-4 to be filed by SCH in connection with the Business Combination, (iii) expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, (iv) receipt of approval for listing on the NYSE or NASDAQ the shares of SCH Common Stock to be issued in connection with the Merger, (v) that SCH have at least $5,000,001 of net tangible assets upon Closing and (vi) the absence of any injunctions. In addition, prior to the Closing, Opendoor will consummate the restructuring transactions as set forth in the Merger Agreement (the \"Pre-Closing Restructuring\"), and it is a condition to the obligations of SCH and Merger Sub to consummate the Merger that the Pre-Closing Restructuring has been completed. Other conditions to Opendoor's obligations to consummate the Merger include, among others, that as of the Closing, (i) the Domestication has been completed, (ii) the amount of cash available in (x) the trust account into which substantially all of the proceeds of SCH's initial public offering and private placements of its warrants have been deposited for the benefit of SCH, certain of its public shareholders and the underwriters of SCH's initial public offering (the \"Trust Account\"), after deducting the amount required to satisfy SCH's obligations to its shareholders (if any) that exercise their rights to redeem their SCH Class A Ordinary Shares pursuant to the Cayman Constitutional Documents (but prior to payment of (a) any deferred underwriting commissions being held in the Trust Account and (b) any transaction expenses of SCH or its affiliates) (the \"Trust Amount\") plus (y) the PIPE Investment (as defined below), is at least equal to or greater than $550,000,000; provided, that there is a mutual condition that the Trust Amount plus the Third Party PIPE Investment (as defined in the Merger Agreement) be at least $200,000,000."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b42"], "char_count": 3834, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "74e62621652ce2c676e44786045e0c783d1b715a3ca9dfc24ad40ca3ee6579bf", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 42, "char_end": 10070, "char_start": 6236, "fragment_sha256": "747a208aa7cba6f499e98b8aee8169491ea38907ff6a9b2bb5676fd783665a53", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Covenants The Merger Agreement contains additional covenants, including, among others, providing for (i) the parties to conduct their respective businesses in the ordinary course through the Closing, (ii) the parties to not initiate any negotiations or enter into any agreements for certain alternative transactions, (iii) Opendoor to prepare and deliver to SCH certain audited and unaudited consolidated financial statements of Opendoor, (iv) SCH to prepare and file a proxy / registration statement on Form S-4 and take certain other actions to obtain the requisite approval of SCH shareholders of certain proposals regarding the Business Combination (including the Domestication), and (v) the parties to use reasonable best efforts to obtain necessary approvals from governmental agencies. Representations and Warranties The Merger Agreement contains customary representations and warranties by SCH, Merger Sub and Opendoor. The representations and warranties of the respective parties to the Merger Agreement generally will not survive the Closing. Termination The Merger Agreement may be terminated at any time prior to the Closing (i) by mutual written consent of SCH and Opendoor, (ii) by Opendoor, if certain approvals of the shareholders of SCH, to the extent required under the Merger Agreement, are not obtained as set forth therein or if there is a Modification in Recommendation (as defined in the Merger Agreement), (iii) by SCH, if certain approvals of the stockholders of Opendoor, to the extent required under the Merger Agreement, are not obtained within five business days after the proxy / registration statement on Form S-4 has been declared effective by the SEC and delivered or otherwise made available Opendoor’s stockholders, (iv) by either SCH or Opendoor in certain other circumstances set forth in the Merger Agreement, including (a) if any Governmental Authority (as defined in the Merger Agreement) shall have issued or otherwise entered a final, nonappealable order making consummation of the Merger illegal or otherwise preventing or prohibiting consummation of the Merger and (b) in the event of certain uncured breaches by the other party or if the Closing has not occurred on or before 180 days after the date of the Merger Agreement (the \"Agreement End Date\"). Certain Related Agreements Subscription Agreements As disclosed in the Previous Current Report, on September 15, 2020, concurrently with the execution of the Merger Agreement, the Company entered into subscription agreements (the \"Subscription Agreements\") with certain investors (collectively, the \"PIPE Investors\"), pursuant to, and on the terms and subject to the conditions of which, the PIPE Investors have collectively subscribed for 60,005,000 shares of the SCH Common Stock for an aggregate purchase price equal to $600,050,000 million (the \"PIPE Investment\"), a portion of which is expected to be funded by (i) one or more affiliates of SCH Sponsor II LLC (the \"Sponsor\" and collectively, the \"Sponsor Related PIPE Investors\"), (ii) existing Opendoor investors (the \"Opendoor-Related PIPE Investors\") and (iii) certain additional investors (which may include mutual funds and existing shareholders of SCH). The PIPE Investment will be consummated substantially concurrently with the Closing. The Subscription Agreements for the PIPE Investors (other than the Sponsor Related PIPE Investors and Opendoor-Related PIPE Investors, whose registration rights are governed by the Amended and Restated Registration Rights Agreement described below (the \"Non-Insider PIPE Investors\")), provide for certain registration rights. In particular, SCH is required to, as soon as practicable but no later than 30 calendar days following the Closing, submit to or file with the SEC a registration statement registering the resale of such shares."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b42"], "char_count": 3892, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "462d2eeca946e33317731442d8c6d80bc9951f4b54cdf7b057baf75eaf6e592c", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 42, "char_end": 13962, "char_start": 10070, "fragment_sha256": "747a208aa7cba6f499e98b8aee8169491ea38907ff6a9b2bb5676fd783665a53", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Additionally, SCH is required to use its commercially reasonable efforts to have the registration statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the filing date thereof if the SEC notifies the Company that it will “review” the registration statement and (ii) the 10th business day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that the registration statement will not be “reviewed” or will not be subject to further review. The Company must use commercially reasonable efforts to keep the registration statement effective until the earliest of: (i) the date the Non-Insider PIPE Investors no longer hold any registrable shares, (ii) the date all registrable shares held by the Non-Insider PIPE Investors may be sold without restriction under Rule 144 and (C) two years from the date of effectiveness of the registration statement. The Subscription Agreements will terminate with no further force and effect upon the earliest to occur of: (a) such date and time as the Merger Agreement is terminated in accordance with its terms; (b) the mutual written agreement of the parties to such Subscription Agreement; (c) if any of the conditions to closing set forth in such Subscription Agreement are not satisfied on or prior to the Closing and, as a result thereof, the transactions contemplated by the Subscription Agreement fail to occur; and (d) March 31, 2021. The foregoing description of the Subscription Agreements does not purport to be complete and is qualified in its entirety by the terms and conditions of the form of Subscription Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. Sponsor Support Agreement As previously disclosed in the September 15 Current Report, on September 15, 2020, SCH announced entry into a Support Agreement (the \"Sponsor Support Agreement\"), by and among SCH, the Sponsor, and Opendoor, pursuant to which the Sponsor and each director of SCH agreed to, among other things, vote in favor of the Merger Agreement and the transactions contemplated thereby, in each case, subject to the terms and conditions contemplated by the Sponsor Support Agreement. Company Support Agreement As previously disclosed in the September 15 Current Report, on September 15, 2020, SCH also announced entry into a Support Agreement (the \"Company Support Agreement\"), by and among SCH, Opendoor and certain stockholders of Opendoor (the \"Key Stockholders\"). Under the Company Support Agreement, the Key Stockholders agreed, within forty-eight hours following the SEC declaring effective the proxy statement/prospectus relating to the approval by SCH stockholders of the Business Combination, to execute and deliver a written consent with respect to the outstanding shares of Opendoor common stock and preferred stock held by the Key Stockholders adopting the Merger Agreement and related transactions and approving the Business Combination. The shares of Opendoor common stock and preferred stock that are owned by the Key Stockholders and subject to the Company Support Agreements represent a majority of the outstanding voting power of Opendoor common stock and preferred stock (on an as converted basis). Transfer Restrictions and Registration Rights The Merger Agreement contemplates that, at the Closing, SCH, Opendoor, the Major Company Stockholders (as defined in the Merger Agreement) and certain of their respective affiliates and will enter into an Amended and Restated Registration Rights Agreement (the \"Registration Rights Agreement\"), pursuant to which SCH will agree to register for resale, pursuant to Rule 415 under the Securities Act, certain shares of SCH Common Stock and other equity securities of SCH that are held by the parties thereto from time to time."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b42"], "char_count": 3447, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "83134f90bd9328fc97ddd0336c35189ae51cab1123ff27f1ff75000a4148fd99", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 42, "char_end": 17409, "char_start": 13962, "fragment_sha256": "747a208aa7cba6f499e98b8aee8169491ea38907ff6a9b2bb5676fd783665a53", "heading_path": ["FORM 8-K/A", "Item 1.01 Entry into a Material Definitive Agreement."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Additionally, the Registration Rights Agreement and the Bylaws of SCH contain certain restrictions on transfer with respect to the shares of SCH Common Stock held by the Sponsor or the former Opendoor stockholders immediately following Closing (the \"Lock-up Shares\"). Such restrictions begin at Closing and end on the earlier of (i) the date that is 180 days after Closing and (ii)(a) for 33.33% of the Lock-up Shares, the date on which the last reported sale price of SCH Common Stock equals or exceeds $12.50 per share for any 20 trading days within any 30-trading day period commencing at least 30 days after Closing and (b) for an additional 50% of the Lock-up Shares, the date on which the last reported sale price of SCH Common Stock equals or exceeds $15.00 per share for any 20 trading days within any 30-trading day period commencing at least 30 days Closing. The foregoing description of the Merger Agreement, Subscription Agreements, Sponsor Support Agreement and Company Support Agreement, and the transactions and documents contemplated thereby, is not complete and is subject to and qualified in its entirety by reference to the Merger Agreement, Subscription Agreements, the Sponsor Support Agreement and the Company Support Agreement, copies of which are filed with this Current Report on Form 8-K as Exhibit 2.1, Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3, respectively, and the terms of which are incorporated by reference herein. The Merger Agreement, Subscription Agreements, the Sponsor Support Agreement and the Company Support Agreement have been included to provide investors with information regarding its terms. They are not intended to provide any other factual information about SCH or its affiliates. The representations, warranties, covenants and agreements contained in the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement, the Company Support Agreement and the other documents related thereto were made only for purposes of the Merger Agreement as of the specific dates therein, were solely for the benefit of the parties to the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement and the Company Support Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement or Company Support Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement or the Company Support Agreement and should not rely on the representations, warranties, covenants and agreements or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the date of the Merger Agreement, the Subscription Agreements, the Sponsor Support Agreement or the Company Support Agreement, as applicable, which subsequent information may or may not be fully reflected in the SCH's public disclosures."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b49"], "char_count": 49, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c35d849bf7793b30b31956cdb408eca51b6fa5788b226fc3717e021120169b19", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 3.02 Unregistered Sales of Equity Securities"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 49, "char_end": 49, "char_start": 0, "fragment_sha256": "3d648c5cf4cc4d90b53678ed4b81df350907a277116e9caa336de424074e4631", "heading_path": ["FORM 8-K/A", "Item 3.02 Unregistered Sales of Equity Securities"], "table_index": null, "tag_name": "b"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s16", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Item 3.02 Unregistered Sales of Equity Securities"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b50"], "char_count": 3475, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ce9c6d3826f60ec62b44acd1c8e3d3d4136a78f19fbef0de645c9d9a0f8da47c", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 3.02 Unregistered Sales of Equity Securities"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 50, "char_end": 3475, "char_start": 0, "fragment_sha256": "baf6123b0d1c11130fd7398088319519bfcaaef8fbb06c6d1b9289724c9494ff", "heading_path": ["FORM 8-K/A", "Item 3.02 Unregistered Sales of Equity Securities"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s16", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "The disclosure set forth above in Item 1.01 of this Current Report on Form 8-K with respect to the PIPE Investment is incorporated by reference in this Item 3.02. The shares of SCH Common Stock to be issued in connection with the PIPE Investment will not be registered under the Securities Act of 1933, as amended (the \"Securities Act\"), and will be issued in reliance on the exemption from registration requirements thereof provided by Section 4(a)(2) of the Securities Act. Additional Information and Where to Find It This Current Report on Form 8-K relates to a proposed transaction between Opendoor and SCH. This Current Report on Form 8-K does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. SCH intends to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the \"SEC\"), which will include a document that serves as a prospectus and proxy statement of SCH, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all SCH shareholders. SCH also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of SCH are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by SCH through the website maintained by the SEC at www.sec.gov. The documents filed by SCH with the SEC also may be obtained free of charge at SCH's website at http://www.socialcapitalhedosophiaholdings.com/docsb.html or upon written request to 317 University Ave, Suite 200, Palo Alto, California 94301. Participants in Solicitation SCH and its directors and executive officers may be deemed to be participants in the solicitation of proxies from SCH's shareholders in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph. Forward-Looking Statements Legend This Current Report on Form 8-K contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Opendoor and SCH. These forward-looking statements generally are identified by the words \"believe,\" \"project,\" \"expect,\" \"anticipate,\" \"estimate,\" \"intend,\" \"strategy,\" \"future,\" \"opportunity,\" \"plan,\" \"may,\" \"should,\" \"will,\" \"would,\" \"will be,\" \"will continue,\" \"will likely result,\" and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b50"], "char_count": 3175, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "349d249a7701f606d320d33f04b670a7c47d2955e9b514dcb9035bf6844db8f9", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 3.02 Unregistered Sales of Equity Securities"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "block_sequence": 50, "char_end": 6650, "char_start": 3475, "fragment_sha256": "baf6123b0d1c11130fd7398088319519bfcaaef8fbb06c6d1b9289724c9494ff", "heading_path": ["FORM 8-K/A", "Item 3.02 Unregistered Sales of Equity Securities"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#s16", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_8ka.htm", "table_id": null, "text": "Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of SCH's securities, (ii) the risk that the transaction may not be completed by SCH's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SCH, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Merger Agreement by the shareholders of SCH, the satisfaction of the minimum Trust Account amount following redemptions by SCH's public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the inability to complete the PIPE Investment, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Opendoor's business relationships, operating results, and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Opendoor, (ix) the outcome of any legal proceedings that may be instituted against Opendoor or against SCH related to the Merger Agreement or the proposed transaction, (x) the ability to maintain the listing of SCH's securities on a national securities exchange, (xi) changes in the competitive and regulated industries in which Opendoor operates, variations in operating performance across competitors, changes in laws and regulations affecting Opendoor's business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in the highly competitive residential real estate industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the \"Risk Factors\" section of SCH's registration on Form S-1 (File No. 333-237864), the registration statement on Form S-4 discussed above and other documents filed by SCH from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Opendoor and SCH assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Opendoor nor SCH gives any assurance that either Opendoor or SCH, or the combined company, will achieve its expectations."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b55", "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm#b56"], "char_count": 60, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d011231236ccc07f49e49b41ef9d5e08af27ad1c1e66ac0b87d3833e623d71f5", "derivation_id": "33842e749183ff700b50eacde96122d31cae8d6f32aa37fcafde5231f13aa1bd", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["FORM 8-K/A", "Item 9.01. 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"norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7", + "block_sequence": 7, + "block_sha256": "3ac3745a5a52a072da45afa98f8bf2ef781a969019f48f0c68981a085879d8b8", + "block_type": "paragraph", + "char_count": 56214, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", + "block_sequence": 7, + "char_end": 56214, + "char_start": 0, + "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", + "heading_path": [ + "EXECUTION VERSION", + "SUBSCRIPTION AGREEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", + "table": null, + "text": "This SUBSCRIPTION AGREEMENT (this \u201cSubscription Agreement\u201d) is entered into on September 15, 2020, by and between Social Capital Hedosophia Holdings Corp. II, a Cayman Islands exempted company (\u201cIPOB\u201d), and the undersigned subscriber (the \u201cInvestor\u201d). WHEREAS, this Subscription Agreement is being entered into in connection with the Agreement and Plan of Merger, dated as of the date hereof (as may be amended, supplemented or otherwise modified from time to time, the \u201cTransaction Agreement\u201d), by and among IPOB, Opendoor Labs Inc., a Delaware corporation (the \u201cCompany\u201d), Hestia Merger Sub Inc., a Delaware corporation (\u201cIPOB Merger Sub\u201d), and the other parties thereto, pursuant to which, among other things, IPOB Merger Sub will merge with and into the Company, with the Company as the surviving company in the merger and, after giving effect to such merger, becoming a wholly owned subsidiary of IPOB, and IPOB will change its name to \u201cOpendoor Technologies Inc.\u201d, on the terms and subject to the conditions therein (the \u201cTransaction\u201d); WHEREAS, prior to the closing of the Transaction (and as more fully described in the Transaction Agreement), IPOB will domesticate as a Delaware corporation in accordance with Section 388 of the General Corporation Law of the State of Delaware and Part XII of the Cayman Islands Companies Law (2020 Revision) (the \u201cDomestication\u201d); WHEREAS, in connection with the Transaction, IPOB is seeking commitments from interested investors to purchase, following the Domestication and prior to the closing of the Transaction, shares of IPOB\u2019s Class A common stock, par value $0.001 per share, as such shares will exist as common stock following the Domestication (the \u201cShares\u201d), in a private placement for a purchase price of $10.00 per share (the \u201cPer Share Subscription Price\u201d); WHEREAS, the aggregate purchase price to be paid by the Investor for the subscribed Shares (as set forth on the signature page hereto) is referred to herein as the \u201cSubscription Amount;\u201d and WHEREAS, substantially concurrently with the execution of this Subscription Agreement, IPOB is entering into: (a) separate subscription agreements with certain other investors that are existing directors, officers or equityholders (including, for the avoidance of doubt, holders of convertible securities) of the Company, IPOB, SCH Sponsor II LLC, a Cayman Islands limited liability company, and/or their respective affiliates with an aggregate purchase price of $200,050,000 (collectively, the \u201cInsider PIPE Investors\u201d and, such investment, the \u201cInsider PIPE Investment\u201d); and (b) separate subscription agreements (collectively, the \u201cOther Subscription Agreements\u201d) with certain investors (other than the Insider PIPE Investors) with an aggregate purchase price of $400,000,000 (inclusive of the Subscription Amount) (together with the Insider PIPE Investment, the \u201cPIPE Investment\u201d). NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, set forth herein, and intending to be legally bound hereby, each of the Investor and IPOB acknowledges and agrees as follows: 1. Subscription. The Investor hereby irrevocably subscribes for and agrees to purchase from IPOB the number of Shares set forth on the signature page of this Subscription Agreement on the terms and subject to the conditions provided for herein. The Investor acknowledges and agrees that, as a result of the Domestication, the Shares that will be issued pursuant hereto shall be shares of common stock in a Delaware corporation (and not shares in a Cayman Islands exempted company). 2. Closing. The closing of the sale of the Shares contemplated hereby (the \u201cClosing\u201d) shall occur on the closing date (the \u201cClosing Date\u201d) and be conditioned upon the prior or substantially concurrent consummation of the Transaction. Upon delivery of written notice from (or on behalf of) IPOB to the Investor (the \u201cClosing Notice\u201d), that IPOB reasonably expects all conditions to the closing of the Transaction to be satisfied or waived on an expected closing date that is not less than five (5) business days from the date on which the Closing Notice is delivered to the Investor, the Investor shall deliver to IPOB, three (3) business days prior to the expected closing date specified in the Closing Notice, the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s) specified by IPOB in the Closing Notice. On or prior to the Closing Date, IPOB shall issue the Shares to the Investor and subsequently cause the Shares to be registered in book entry form in the name of the Investor on IPOB\u2019s share register. For purposes of this Subscription Agreement, \u201cbusiness day\u201d shall mean a day, other than a Saturday, Sunday or other day on which commercial banks in New York, New York or governmental authorities in the Cayman Islands (for so long as IPOB remains domiciled in Cayman Islands) are authorized or required by law to close. Prior to or at the Closing, Investor shall deliver to IPOB a duly completed and executed Internal Revenue Service Form W-9 or appropriate Form W-8. In the event the Closing Date does not occur within two (2) business days after the expected closing date specified in the Closing Notice, IPOB shall promptly (but not later than two (2) business days thereafter) return the Subscription Amount to the Investor by wire transfer of U.S. dollars in immediately available funds to the account specified by the Investor, and any book-entries for the Shares shall be deemed cancelled; provided that, unless this Subscription Agreement has been terminated pursuant to Section 8 hereof, such return of funds shall not terminate this Subscription Agreement or relieve the Investor of its obligation to purchase the Shares at the Closing. Field: Page; Sequence: 1 3. Closing Conditions. The obligation of the parties hereto to consummate the purchase and sale of the Shares pursuant to this Subscription Agreement is subject to the following conditions: (a) there shall not be in force any injunction or order enjoining or prohibiting the issuance and sale of the Shares under this Subscription Agreement; and (b) the terms of the Transaction Agreement (including the conditions thereto) shall not have been amended or waived in a manner that is materially adverse to the Investor (in its capacity as such). 4. Further Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as the parties reasonably may deem to be practical and necessary in order to consummate the subscription as contemplated by this Subscription Agreement. 5. IPOB Representations and Warranties. IPOB represents and warrants to the Investor, as of the date hereof and as of the Closing Date, that: (a) IPOB is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands (to the extent such concept exists in such jurisdiction). IPOB has all power (corporate or otherwise) and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement. As of the Closing Date, following the Domestication, IPOB will be duly incorporated, validly existing as a corporation and in good standing under the laws of the State of Delaware. (b) As of the Closing Date, the Shares will be duly authorized and, when issued and delivered to the Investor against full payment therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created under IPOB\u2019s certificate of incorporation (as in effect at such time of issuance) or under the Delaware General Corporation Law. (c) This Subscription Agreement has been duly authorized, executed and delivered by IPOB and, assuming that this Subscription Agreement constitutes the valid and binding agreement of the Investor, this Subscription Agreement is enforceable against IPOB in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, or (ii) principles of equity, whether considered at law or equity. (d) The issuance and sale by IPOB of the Shares pursuant to this Subscription Agreement will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of IPOB or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which IPOB or any of its subsidiaries is a party or by which IPOB or any of its subsidiaries is bound or to which any of the property or assets of IPOB is subject that would reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of IPOB and its subsidiaries, taken as a whole (a \u201cMaterial Adverse Effect\u201d), or materially affect the validity of the Shares or the legal authority of IPOB to comply in all material respects with its obligations under this Subscription Agreement; (ii) result in any violation of the provisions of the organizational documents of IPOB; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over IPOB or any of its properties that would reasonably be expected to have a Material Adverse Effect or materially affect the validity of the Shares or the legal authority of IPOB to comply in all material respects with its obligations under this Subscription Agreement. Field: Page; Sequence: 2; Options: NewSection; Value: 2 (e) As of their respective filing dates, all reports required to be filed by IPOB with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) since April 30, 2020 (the \u201cSEC Reports\u201d) complied in all material respects with the applicable requirements of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), and the rules and regulations of the SEC promulgated thereunder. As of the date hereof, there are no material outstanding or unresolved comments in comment letters received by IPOB from the staff of the Division of Corporation Finance of the SEC with respect to any of the SEC Reports. (f) IPOB is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection with the issuance of the Shares pursuant to this Subscription Agreement, other than (i) filings with the SEC, (ii) filings required by applicable state securities laws, (iii) the filings required in accordance with Section 12 of this Subscription Agreement; (iv) those required by the New York Stock Exchange (\u201cNYSE\u201d) or Nasdaq, including with respect to obtaining approval of IPOB\u2019s stockholders, and (v) the failure of which to obtain would not be reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. (g) As of the date hereof, IPOB has not received any written communication from a governmental authority that alleges that IPOB is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. (h) Assuming the accuracy of the Investor\u2019s representations and warranties set forth in Section 6 of this Subscription Agreement, no registration under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), is required for the offer and sale of the Shares by IPOB to the Investor. (i) Neither IPOB nor any person acting on its behalf has offered or sold the Shares by any form of general solicitation or general advertising in violation of the Securities Act. (j) As of the date hereof, the issued and outstanding Class A ordinary shares of IPOB are registered pursuant to Section 12(b) of the Exchange Act. Following the Domestication, the Shares are expected to be registered under the Exchange Act. (k) IPOB is not under any obligation to pay any broker\u2019s fee or commission in connection with the sale of the Shares other than to the Placement Agent. (l) The Other Subscription Agreements reflect the same Per Share Subscription Price and other terms with respect to the purchase of the Shares that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than terms particular to the regulatory requirements of such subscriber or its affiliates or related funds. For the avoidance of doubt, this Section 5(l) shall not apply to any document entered into in connection with the Insider PIPE Investment; provided, however, that such Insider PIPE Investment shall be with respect to the same class of Class A common stock being acquired by the Investor hereunder and at the same Per Share Subscription Price. 6. Investor Representations and Warranties. The Investor represents and warrants to IPOB, as of the date hereof and as of the Closing date, that: (a) The Investor (i) is a \u201cqualified institutional buyer\u201d (as defined in Rule 144A under the Securities Act) or an institutional \u201caccredited investor\u201d (within the meaning of Rule 501(a)(1), (2), (3), (7) or (8) under the Securities Act), in each case, satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring the Shares only for his, her or its own account and not for the account of others, or if the Investor is subscribing for the Shares as a fiduciary or agent for one or more investor accounts, the Investor has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is not acquiring the Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall provide the requested information set forth on Schedule A). The Investor is not an entity formed for the specific purpose of acquiring the Shares. Field: Page; Sequence: 3; Value: 2 (b) The Investor acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering within the meaning of the Securities Act, that the Shares have not been registered under the Securities Act and that IPOB is not required to register the Shares except as set forth in Section 7 of this Subscription Agreement. The Investor acknowledges and agrees that the Shares may not be offered, resold, transferred, pledged or otherwise disposed of by the Investor absent an effective registration statement under the Securities Act except (i) to IPOB or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and, in each case, in accordance with any applicable securities laws of the states of the United States and other applicable jurisdictions, and that any certificates representing the Shares shall contain a restrictive legend to such effect. The Investor acknowledges and agrees that the Shares will be subject to these securities law transfer restrictions and, as a result of these transfer restrictions, the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges and agrees that the Shares will not immediately be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities Act, and that the provisions of Rule 144(i) will apply to the Shares. The Investor acknowledges and agrees that it has been advised to consult legal, tax and accounting prior to making any offer, resale, transfer, pledge or disposition of any of the Shares. (c) The Investor acknowledges and agrees that the Investor is purchasing the Shares from IPOB. The Investor further acknowledges that there have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of IPOB, the Company, any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing or any other person or entity, expressly or by implication, other than those representations, warranties, covenants and agreements of IPOB expressly set forth in Section 5 of this Subscription Agreement. (d) The Investor acknowledges and agrees that the Investor has received such information as the Investor deems necessary in order to make an investment decision with respect to the Shares, including, with respect to IPOB, the Transaction and the business of the Company and its subsidiaries. Without limiting the generality of the foregoing, the Investor acknowledges that he, she or it has reviewed IPOB\u2019s filings with the SEC. The Investor acknowledges and agrees that the Investor and the Investor\u2019s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as the Investor and such Investor\u2019s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Shares. (e) The Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and IPOB, the Company or a representative of IPOB or the Company, and the Shares were offered to the Investor solely by direct contact between the Investor and IPOB, the Company or a representative of IPOB or the Company. The Investor did not become aware of this offering of the Shares, nor were the Shares offered to the Investor, by any other means. The Investor acknowledges that the Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, IPOB, the Company, the Placement Agent, any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing), other than the representations and warranties of IPOB contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in IPOB. (f) The Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares, including those set forth in IPOB\u2019s filings with the SEC. The Investor has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, and the Investor has sought such accounting, legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor acknowledges that Investor shall be responsible for any of the Investor\u2019s tax liabilities that may arise as a result of the transactions contemplated by this Subscription Agreement, and that neither IPOB nor the Company has provided any tax advice or any other representation or guarantee regarding the tax consequences of the transactions contemplated by the Subscription Agreement. Field: Page; Sequence: 4; Value: 2 (g) Alone, or together with any professional advisor(s), the Investor has adequately analyzed and fully considered the risks of an investment in the Shares and determined that the Shares are a suitable investment for the Investor and that the Investor is able at this time and in the foreseeable future to bear the economic risk of a total loss of the Investor\u2019s investment in IPOB. The Investor acknowledges specifically that a possibility of total loss exists. (h) In making its decision to purchase the Shares, the Investor has relied solely upon independent investigation made by the Investor and the representations and warranties in Section 5. Without limiting the generality of the foregoing, the Investor has not relied on any statements or other information provided by or on behalf of the Placement Agent or any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing concerning IPOB, the Company, the Transaction, the Transaction Agreement, this Subscription Agreement or the transactions contemplated hereby or thereby, the Shares or the offer and sale of the Shares. (i) The Investor acknowledges and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Shares or made any findings or determination as to the fairness of this investment. (j) The Investor, if not a natural person, has been duly formed or incorporated and is validly existing and is in good standing under the laws of its jurisdiction of formation or incorporation, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement. (k) The execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor, have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to which the Investor is a party or by which the Investor is bound, and, if the Investor is not a natural person, will not violate any provisions of the Investor\u2019s organizational documents, including, without limitation, its incorporation or formation papers, bylaws, indenture of trust or partnership or operating agreement, as may be applicable. The signature of the Investor on this Subscription Agreement is genuine, and the signatory, if the Investor is a natural person, has legal competence and capacity to execute the same or, if the Investor is not a natural person, the signatory has been duly authorized to execute the same, and, assuming that this Subscription Agreement constitutes the valid and binding agreement of IPOB, this Subscription Agreement constitutes a legal, valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity. (l) Neither the Investor nor, if the Investor is not a natural person, any of its officers, directors, managers, managing members, general partners or any other person acting in a similar capacity or carrying out a similar function, is (i) a person named on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List, the Sectoral Sanctions Identification List, or any other similar list of sanctioned persons administered by the U.S. Treasury Department\u2019s Office of Foreign Assets Control (\u201cOFAC\u201d), or any similar list of sanctioned persons administered by the European Union or any individual European Union member state, including the United Kingdom (collectively, \u201cSanctions Lists\u201d); (ii) directly or indirectly owned or controlled by, or acting on behalf of, one or more persons on a Sanctions List; (iii) organized, incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, Venezuela, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United States, the European Union or any individual European Union member state, including the United Kingdom; (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515; or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a \u201cProhibited Investor\u201d). The Investor represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the \u201cBSA\u201d), as amended by the USA PATRIOT Act of 2001 (the \u201cPATRIOT Act\u201d), and its implementing regulations (collectively, the \u201cBSA/PATRIOT Act\u201d), that the Investor maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. The Investor also represents that it maintains policies and procedures reasonably designed to ensure compliance with sanctions administered by the United States, the European Union, or any individual European Union member state, including the United Kingdom, to the extent applicable to it. The Investor further represents that the funds held by the Investor and used to purchase the Shares were legally derived and were not obtained, directly or indirectly, from a Prohibited Investor. Field: Page; Sequence: 5; Value: 2 (m) If the Investor is or is acting on behalf of (i) an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (\u201cERISA\u201d), (ii) a plan, an individual retirement account or other arrangement that is subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d), (iii) an entity whose underlying assets are considered to include \u201cplan assets\u201d of any such plan, account or arrangement described in clauses (i) and (ii) (each, an \u201cERISA Plan\u201d), or (iv) an employee benefit plan that is a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA), a non-U.S. plan (as described in Section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing clauses (i), (ii) or (iii) but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively, \u201cSimilar Laws,\u201d and together with ERISA Plans, \u201cPlans\u201d), the Investor represents and warrants that (A) neither IPOB nor any of its affiliates (the \u201cTransaction Parties\u201d) has provided investment advice or has otherwise acted as the Plan\u2019s fiduciary, with respect to its decision to acquire and hold the Shares, and none of the parties to the Transaction is or shall at any time be the Plan\u2019s fiduciary with respect to any decision in connection with the Investor\u2019s investment in the Shares; and (B) its purchase of the Shares will not result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code, or any applicable Similar Law. (n) No disclosure or offering document has been prepared by Credit Suisse Securities (USA) LLC or any of its affiliates (the \u201cPlacement Agent\u201d) in connection with the offer and sale of the Shares. (o) None of the Placement Agent, nor any of its affiliates, nor any control persons, officers, directors, employees, agents or representatives of any of the foregoing has made any independent investigation with respect to IPOB, the Company or its subsidiaries or any of their respective businesses, or the Shares or the accuracy, completeness or adequacy of any information supplied to the Investor by IPOB. (p) In connection with the issue and purchase of the Shares, the Placement Agent has not acted as the Investor\u2019s financial advisor or fiduciary. (q) The Investor has or has commitments to have and, when required to deliver payment to IPOB pursuant to Section 2 above, will have, sufficient funds to pay the Subscription Amount and consummate the purchase and sale of the Shares pursuant to this Subscription Agreement. 7. Registration Rights. (a) IPOB agrees that, within thirty (30) calendar days following the Closing Date (such deadline, the \u201cFiling Deadline\u201d), IPOB will submit to or file with the SEC a registration statement for a shelf registration on Form S-1 or Form S-3 (if the Company is then eligible to use a Form S-3 shelf registration) (the \u201cRegistration Statement\u201d), in each case, covering the resale of the Shares acquired by the Investor pursuant to this Agreement which are eligible for registration (determined as of two (2) business days prior to such submission or filing) (the \u201cRegistrable Shares\u201d) and IPOB shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the filing date thereof if the SEC notifies IPOB that it will \u201creview\u201d the Registration Statement and (ii) the 10th business day after the date IPOB is notified (orally or in writing, whichever is earlier) by the SEC that the Registration Statement will not be \u201creviewed\u201d or will not be subject to further review (such earlier date, the \u201cEffectiveness Deadline\u201d); provided, however, that IPOB\u2019s obligations to include the Registrable Shares in the Registration Statement are contingent upon Investor furnishing in writing to IPOB such information regarding Investor, the securities of IPOB held by Investor and the intended method of disposition of the Registrable Shares (which shall be limited to non-underwritten public offerings) as shall be reasonably requested by IPOB to effect the registration of the Registrable Shares, and Investor shall execute such documents in connection with such registration as IPOB may reasonably request that are customary of a selling stockholder in similar situations, including providing that IPOB shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement, if applicable, during any customary blackout or similar period or as permitted hereunder; provided that Investor shall not in connection with the foregoing be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Registrable Shares. For as long as the Investor holds Shares, IPOB will use commercially reasonable efforts to file all reports for so long as the condition in Rule 144(c)(1) (or Rule 144(i)(2), if applicable) is required to be satisfied, and provide all customary and reasonable cooperation, necessary to enable the undersigned to resell the Shares pursuant to Rule 144 of the Securities Act (in each case, when Rule 144 of the Securities Act becomes available to the Investors). Any failure by IPOB to file the Registration Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Deadline shall not otherwise relieve IPOB of its obligations to file or effect the Registration Statement as set forth above in this Section 7. Field: Page; Sequence: 6; Value: 2 (b) At its expense IPOB shall: (i) except for such times as IPOB is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities laws which IPOB determines to obtain, continuously effective with respect to Investor, and to keep the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of the following: (A) Investor ceases to hold any Registrable Shares, (B) the date all Registrable Shares held by Investor may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for IPOB to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (C) two years from the date of effectiveness of the Registration Statement. The period of time during which IPOB is required hereunder to keep a Registration Statement effective is referred to herein as the \u201cRegistration Period\u201d; (ii) advise Investor, as expeditiously as possible: (1) when a Registration Statement or any amendment thereto has been filed with the SEC; (2) after it shall receive notice or obtain knowledge thereof, of the issuance by the SEC of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; (3) of the receipt by IPOB of any notification with respect to the suspension of the qualification of the Registrable Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and (4) subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading. Notwithstanding anything to the contrary set forth herein, IPOB shall not, when so advising Investor of such events, provide Investor with any material, nonpublic information regarding IPOB other than to the extent that providing notice to Investor of the occurrence of the events listed in (1) through (4) above constitutes material, nonpublic information regarding IPOB; Field: Page; Sequence: 7; Value: 2 (iii) use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement as soon as reasonably practicable; (iv) upon the occurrence of any event contemplated in Section 7(b)(ii)(4) above, except for such times as IPOB is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, IPOB shall use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; (v) use its commercially reasonable efforts to cause all Registrable Shares to be listed on each securities exchange or market, if any, on which the Class A Shares issued by IPOB have been listed; (vi) use its commercially reasonable efforts to allow the Investor to review disclosure regarding the Investor in the Registration Statement; and (vii) otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Investor, consistent with the terms of this Agreement, in connection with the registration of the Registrable Shares. (c) Notwithstanding anything to the contrary in this Subscription Agreement, IPOB shall be entitled to delay the filing or effectiveness of, or suspend the use of, the Registration Statement if it determines that in order for the Registration Statement not to contain a material misstatement or omission, (i) an amendment thereto would be needed to include information that would at that time not otherwise be required in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation of a transaction by IPOB or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event IPOB\u2019s board of directors reasonably believes would require additional disclosure by IPOB in the Registration Statement of material information that IPOB has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the reasonable determination of IPOB\u2019s board of directors to cause the Registration Statement to fail to comply with applicable disclosure requirements, or (iii) in the good faith judgment of the majority of IPOB\u2019s board of directors, such filing or effectiveness or use of such Registration Statement, would be seriously detrimental to the Company and the majority of the IPOB board or directors concludes as a result that it is essential to defer such filing (each such circumstance, a \u201cSuspension Event\u201d); provided, however, that IPOB may not delay or suspend the Registration Statement on more than three occasions or for more than ninety (90) consecutive calendar days, or more than one hundred and twenty (120) total calendar days in each case during any twelve-month period. Upon receipt of any written notice from IPOB of the happening of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein (in light of the circumstances under which they were made, in the case of the prospectus) not misleading, Investor agrees that (i) it will immediately discontinue offers and sales of the Registrable Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until Investor receives copies of a supplemental or amended prospectus (which IPOB agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by IPOB that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by IPOB unless otherwise required by law or subpoena. If so directed by IPOB, Investor will deliver to IPOB or, in Investor\u2019s sole discretion destroy, all copies of the prospectus covering the Registrable Shares in Investor\u2019s possession; provided, however, that this obligation to deliver or destroy all copies of the prospectus covering the Registrable Shares shall not apply (A) to the extent Investor is required to retain a copy of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (2) in accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically on archival servers as a result of automatic data back-up. Field: Page; Sequence: 8; Value: 2 (d) Indemnification. (i) IPOB agrees to indemnify, to the extent permitted by law, Investor (to the extent a seller under the Registration Statement), its directors and officers and each person who controls Investor (within the meaning of the Securities Act), to the extent permitted by law, against all losses, claims, damages, liabilities and reasonable and documented out of pocket expenses (including reasonable and documented attorneys\u2019 fees of one law firm) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement, prospectus included in any Registration Statement (\u201cProspectus\u201d) or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading, except insofar as the same are caused by or contained in any information or affidavit so furnished in writing to IPOB by or on behalf of such Investor expressly for use therein. (ii) In connection with any Registration Statement in which an Investor is participating, such Investor shall furnish (or cause to be furnished) to IPOB in writing such information and affidavits as IPOB reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify IPOB, its directors and officers and each person or entity who controls IPOB (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including, without limitation, reasonable outside attorneys\u2019 fees) resulting from any untrue or alleged untrue statement of material fact contained or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in, in the case of an omission) in any information or affidavit so furnished in writing by on behalf of such Investor expressly for use therein; provided, however, that the liability of each such Investor shall be several and not joint and shall be in proportion to and limited to the net proceeds received by such Investor from the sale of Registrable Shares giving rise to such indemnification obligation. (iii) Any person or entity entitled to indemnification herein shall (A) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person\u2019s or entity\u2019s right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (B) unless in such indemnified party\u2019s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement includes a statement or admission of fault and culpability on the part of such indemnified party or which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. Field: Page; Sequence: 9; Value: 2 (iv) The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall survive the transfer of securities. (v) If the indemnification provided under this Section 7(d) from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations; provided, however, the liability of the Investor shall be limited to the net proceeds received by such Investor from the sale of Registrable Shares giving rise to such indemnification obligation. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by, in the case of an omission), such indemnifying party or indemnified party, and the indemnifying party\u2019s and indemnified party\u2019s relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 7(d)(i), (ii) and (iii) above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 7(d)(v) from any person or entity who was not guilty of such fraudulent misrepresentation. 8. Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (i) such date and time as the Transaction Agreement is terminated in accordance with its terms, (ii) upon the mutual written agreement of each of the parties hereto (and the Company) to terminate this Subscription Agreement, (iii) if the conditions to Closing set forth in Section 3 of this Subscription Agreement are not satisfied, or are not capable of being satisfied, on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement will not be or are not consummated at the Closing and (iv) March 31, 2021; provided that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from any such willful breach. IPOB shall notify the Investor of the termination of the Transaction Agreement promptly after the termination of such agreement. Upon the termination of this Subscription Agreement in accordance with this Section 8, any monies paid by the Investor to IPOB in connection herewith shall be promptly (and in any event within one business day after such termination) returned to the Investor. 9. Trust Account Waiver. The Investor acknowledges that IPOB is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving IPOB and one or more businesses or assets. The Investor further acknowledges that, as described in IPOB\u2019s prospectus relating to its initial public offering dated April 27, 2020 (the \u201cProspectus\u201d) available at www.sec.gov, substantially all of IPOB\u2019s assets consist of the cash proceeds of IPOB\u2019s initial public offering and private placement of its securities, and substantially all of those proceeds have been deposited in a trust account (the \u201cTrust Account\u201d) for the benefit of IPOB, its public shareholders and the underwriter of IPOB\u2019s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to IPOB to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in consideration of IPOB entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, the Investor hereby irrevocably waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement; provided, that nothing in this Section 9 shall be deemed to limit the Investor\u2019s right, title, interest or claim to the Trust Account by virtue of the Investor\u2019s record or beneficial ownership of Shares of IPOB acquired by any means other than pursuant to this Subscription Agreement. Field: Page; Sequence: 10; Value: 2 10. Miscellaneous. (a) Neither this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired hereunder, if any) may be transferred or assigned, other than an assignment to any fund or account managed by the same investment manager as the Investor or an affiliate thereof, subject to, if such transfer or assignment is prior to the Closing, such transferee or assignee, as applicable, executing a joinder to this Subscription Agreement or a separate subscription agreement in substantially the same form as this Subscription Agreement, including with respect to the Subscription Amount and other terms and conditions, provided, that, in the case of any such transfer or assignment, the initial party to this Subscription Agreement shall remain bound by its obligations under this Subscription Agreement in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Shares contemplated hereby. Neither this Subscription Agreement nor any rights that may accrue to IPOB hereunder or any of IPOB\u2019s obligations may be transferred or assigned other than pursuant to the Transactions. (b) IPOB may request from the Investor such additional information as IPOB may deem necessary to evaluate the eligibility of the Investor to acquire the Shares and in connection with the inclusion of the Shares in the Registration Statement, and the Investor shall provide such information as may reasonably be requested, to the extent readily available and to the extent consistent with its internal policies and procedures. The Investor acknowledges that IPOB may file a copy of this Subscription Agreement with the SEC as an exhibit to a current or periodic report or a registration statement of IPOB. (c) The Investor acknowledges that IPOB, the Placement Agent (as third party beneficiary with right of enforcement) and others will rely on the acknowledgments, understandings, agreements, representations and warranties of the Investor contained in this Subscription Agreement. Prior to the Closing, the Investor agrees to promptly notify IPOB, the Company and the Placement Agent if any of the acknowledgments, understandings, agreements, representations and warranties of the Investor set forth herein are no longer accurate. (d) IPOB, the Placement Agent and the Investor are each entitled to rely upon this Subscription Agreement and each is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. (e) All of the representations and warranties contained in this Subscription Agreement shall survive the Closing. All of the covenants and agreements made by each party hereto in this Subscription Agreement shall survive the Closing. (f) This Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 8 above) except by an instrument in writing, signed by each of the parties hereto and, to the extent required by the Transaction Agreement, the Company. No failure or delay of either party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties and third party beneficiaries hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have hereunder. (g) This Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Except as set forth in Section 10(c) with respect to the persons referenced therein, this Subscription Agreement shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns. (h) Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. Field: Page; Sequence: 11; Value: 2 (i) If any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. (j) This Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement. (k) The parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. 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THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN THIS SECTION 10(l) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b30", + "block_sequence": 30, + "block_sha256": "45846f26683ae886a62cdf25ab8df2f983c575451d76969d53a19ddaf7a8994a", + "block_type": "paragraph", + "char_count": 1055, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", + "block_sequence": 30, + "char_end": 1055, + "char_start": 0, + "fragment_sha256": "7797ed89164eaaa38be6e0e4d5ad4ec26a40633c74eb74b648fd54eff9f9ce2e", + "heading_path": [ + "EXECUTION VERSION", + "SUBSCRIPTION AGREEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", + "table": null, + "text": "(m) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 10(m)." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b31", + "block_sequence": 31, + "block_sha256": "9a74b9edbed70a6e551a04e8b6352a66b1afe412bcbd8579beb4d1820e16be26", + "block_type": "paragraph", + "char_count": 5400, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", + "block_sequence": 31, + "char_end": 5400, + "char_start": 0, + "fragment_sha256": "9666e5bd194421fe729e524d70c7e50ff3118189bce6492d823e761acf7d06f0", + "heading_path": [ + "EXECUTION VERSION", + "SUBSCRIPTION AGREEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", + "table": null, + "text": "Field: Page; Sequence: 12; Value: 2 11. Non-Reliance and Exculpation. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, the Placement Agent, any of its affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), other than the statements, representations and warranties of IPOB expressly contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in IPOB. The Investor acknowledges and agrees that none of (i) any other investor pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the Shares (including the investor\u2019s respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), (ii) the Placement Agent, its affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing, (iii) any other party to the Transaction Agreement (other than IPOB), or (iv) any affiliates, or any control persons, officers, directors, employees, partners, agents or representatives of any of IPOB, the Company or any other party to the Transaction Agreement shall be liable to the Investor, or to any other investor, pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the Shares, the negotiation hereof or thereof or the subject matter hereof or thereof, or the transactions contemplated hereby or thereby, for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Shares. 12. Press Releases. IPOB shall, by 9:00 a.m., New York City time, on the first business day immediately following the date of this Subscription Agreement, issue one or more press releases or furnish or file with the SEC a Current Report on Form 8-K (collectively, the \u201cDisclosure Document\u201d) disclosing, to the extent not previously publicly disclosed, the PIPE Investment, all material terms of the Transaction and any other material, non-public information that IPOB has provided to the Investor at any time prior to the filing of the Disclosure Document. From and after the disclosure of the Disclosure Document, to the knowledge of IPOB, the Investors shall not be in possession of any material, non-public information received from IPOB or any of its officers, directors or employees. All press releases or other public communications relating to the transactions contemplated hereby between IPOB and the Investor, and the method of the release for publication thereof, shall be subject to the prior approval of (i) IPOB, and (ii) to the extent such press release or public communication references the Investor or its affiliates or investment advisers by name, the Investor, which approval shall not be unreasonably withheld or conditioned; provided that neither IPOB nor the Investor shall be required to obtain consent pursuant to this Section 12 to the extent any proposed release or statement is substantially equivalent to the information that has previously been made public without breach of the obligation under this Section 12. The restriction in this Section 12 shall not apply to the extent the public announcement is required by applicable securities law, any governmental authority or stock exchange rule; provided, that in such an event, the applicable party shall use its commercially reasonable efforts to consult with the other party in advance as to its form, content and timing. 13. Notices. All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service, or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding any automated reply, such as an out-of-office notification), addressed as follows: If to the Investor, to the address provided on the Investor\u2019s signature page hereto. If to IPOB, to: Social Capital Hedosophia Holdings Corp. II 120 Hawthorne Avenue Palo Alto, California Attention: Steve Trieu Email: steve@socialcapital.com Field: Page; Sequence: 13; Value: 2 with copies to (which shall not constitute notice), to: Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, New York 10036 Attention: Howard L. Ellin Christopher M. Barlow P. Michelle Gasaway Email: howard.ellin@skadden.com christopher.barlow@skadden.com michelle.gasaway@skadden.com and Opendoor Labs Inc. 1 Post Street, Floor 11 San Francisco, CA 94104 Attention: Legal Department Email: legal@opendoor.com and Latham & Watkins LLP 885 Third Avenue New York, NY 10022 Attention: Justin G. Hamill Joshua Dobofsky Kristen Grannis Email: justin.hamill@lw.com joshua.dubofsky@lw.com kristen.grannis@lw.com or to such other address or addresses as the parties may from time to time designate in writing. 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"char_start": 0, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "This SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into on September 15, 2020, by and between Social Capital Hedosophia 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II, a Cayman Islands exempted company (“IPOB”), and the undersigned subscriber (the “Investor”). WHEREAS, this Subscription Agreement is being entered into in connection with the Agreement and Plan of Merger, dated as of the date hereof (as may be amended, supplemented or otherwise modified from time to time, the “Transaction Agreement”), by and among IPOB, Opendoor Labs Inc., a Delaware corporation (the “Company”), Hestia Merger Sub Inc., a Delaware corporation (“IPOB Merger Sub”), and the other parties thereto, pursuant to which, among other things, IPOB Merger Sub will merge with and into the Company, with the Company as the surviving company in the merger and, after giving effect to such merger, becoming a wholly owned subsidiary of IPOB, and IPOB will change its name to “Opendoor Technologies Inc.”, on the terms and subject to the conditions therein (the “Transaction”); WHEREAS, prior to the closing of the Transaction (and as more fully described in the Transaction Agreement), IPOB will domesticate as a Delaware corporation in accordance with Section 388 of the General Corporation Law of the State of Delaware and Part XII of the Cayman Islands Companies Law (2020 Revision) (the “Domestication”); WHEREAS, in connection with the Transaction, IPOB is seeking commitments from interested investors to purchase, following the Domestication and prior to the closing of the Transaction, shares of IPOB’s Class A common stock, par value $0.001 per share, as such shares will exist as common stock following the Domestication (the “Shares”), in a private placement for a purchase price of $10.00 per share (the “Per Share Subscription Price”); WHEREAS, the aggregate purchase price to be paid by the Investor for the subscribed Shares (as set forth on the signature page hereto) is referred to herein as the “Subscription Amount;” and WHEREAS, substantially concurrently with the execution of this Subscription Agreement, IPOB is entering into: (a) separate subscription agreements with certain other investors that are existing directors, officers or equityholders (including, for the avoidance of doubt, holders of convertible securities) of the Company, IPOB, SCH Sponsor II LLC, a Cayman Islands limited liability company, and/or their respective affiliates with an aggregate purchase price of $200,050,000 (collectively, the “Insider PIPE Investors” and, such investment, the “Insider PIPE Investment”); and (b) separate subscription agreements (collectively, the “Other Subscription Agreements”) with certain investors (other than the Insider PIPE Investors) with an aggregate purchase price of $400,000,000 (inclusive of the Subscription Amount) (together with the Insider PIPE Investment, the “PIPE Investment”). NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, set forth herein, and intending to be legally bound hereby, each of the Investor and IPOB acknowledges and agrees as follows: 1. Subscription. The Investor hereby irrevocably subscribes for and agrees to purchase from IPOB the number of Shares set forth on the signature page of this Subscription Agreement on the terms and subject to the conditions provided for herein. The Investor acknowledges and agrees that, as a result of the Domestication, the Shares that will be issued pursuant hereto shall be shares of common stock in a Delaware corporation (and not shares in a Cayman Islands exempted company). 2. Closing. The closing of the sale of the Shares contemplated hereby (the “Closing”) shall occur on the closing date (the “Closing Date”) and be conditioned upon the prior or substantially concurrent consummation of the Transaction."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3409, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8fb99a80492fedd790c5c2ebd603a6dce87a8b2356f443f3ae0c0f4ba7954112", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 7281, "char_start": 3872, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Upon delivery of written notice from (or on behalf of) IPOB to the Investor (the “Closing Notice”), that IPOB reasonably expects all conditions to the closing of the Transaction to be satisfied or waived on an expected closing date that is not less than five (5) business days from the date on which the Closing Notice is delivered to the Investor, the Investor shall deliver to IPOB, three (3) business days prior to the expected closing date specified in the Closing Notice, the Subscription Amount by wire transfer of United States dollars in immediately available funds to the account(s) specified by IPOB in the Closing Notice. On or prior to the Closing Date, IPOB shall issue the Shares to the Investor and subsequently cause the Shares to be registered in book entry form in the name of the Investor on IPOB’s share register. For purposes of this Subscription Agreement, “business day” shall mean a day, other than a Saturday, Sunday or other day on which commercial banks in New York, New York or governmental authorities in the Cayman Islands (for so long as IPOB remains domiciled in Cayman Islands) are authorized or required by law to close. Prior to or at the Closing, Investor shall deliver to IPOB a duly completed and executed Internal Revenue Service Form W-9 or appropriate Form W-8. In the event the Closing Date does not occur within two (2) business days after the expected closing date specified in the Closing Notice, IPOB shall promptly (but not later than two (2) business days thereafter) return the Subscription Amount to the Investor by wire transfer of U.S. dollars in immediately available funds to the account specified by the Investor, and any book-entries for the Shares shall be deemed cancelled; provided that, unless this Subscription Agreement has been terminated pursuant to Section 8 hereof, such return of funds shall not terminate this Subscription Agreement or relieve the Investor of its obligation to purchase the Shares at the Closing. Field: Page; Sequence: 1 3. Closing Conditions. The obligation of the parties hereto to consummate the purchase and sale of the Shares pursuant to this Subscription Agreement is subject to the following conditions: (a) there shall not be in force any injunction or order enjoining or prohibiting the issuance and sale of the Shares under this Subscription Agreement; and (b) the terms of the Transaction Agreement (including the conditions thereto) shall not have been amended or waived in a manner that is materially adverse to the Investor (in its capacity as such). 4. Further Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions as the parties reasonably may deem to be practical and necessary in order to consummate the subscription as contemplated by this Subscription Agreement. 5. IPOB Representations and Warranties. IPOB represents and warrants to the Investor, as of the date hereof and as of the Closing Date, that: (a) IPOB is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands (to the extent such concept exists in such jurisdiction). IPOB has all power (corporate or otherwise) and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3248, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "145ace933565fbd5687cb9ff1dddb00ac70e4a7362294488959070c8a0011303", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 10529, "char_start": 7281, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "As of the Closing Date, following the Domestication, IPOB will be duly incorporated, validly existing as a corporation and in good standing under the laws of the State of Delaware. (b) As of the Closing Date, the Shares will be duly authorized and, when issued and delivered to the Investor against full payment therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created under IPOB’s certificate of incorporation (as in effect at such time of issuance) or under the Delaware General Corporation Law. (c) This Subscription Agreement has been duly authorized, executed and delivered by IPOB and, assuming that this Subscription Agreement constitutes the valid and binding agreement of the Investor, this Subscription Agreement is enforceable against IPOB in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, or (ii) principles of equity, whether considered at law or equity. (d) The issuance and sale by IPOB of the Shares pursuant to this Subscription Agreement will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of IPOB or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which IPOB or any of its subsidiaries is a party or by which IPOB or any of its subsidiaries is bound or to which any of the property or assets of IPOB is subject that would reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of IPOB and its subsidiaries, taken as a whole (a “Material Adverse Effect”), or materially affect the validity of the Shares or the legal authority of IPOB to comply in all material respects with its obligations under this Subscription Agreement; (ii) result in any violation of the provisions of the organizational documents of IPOB; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over IPOB or any of its properties that would reasonably be expected to have a Material Adverse Effect or materially affect the validity of the Shares or the legal authority of IPOB to comply in all material respects with its obligations under this Subscription Agreement. Field: Page; Sequence: 2; Options: NewSection; Value: 2 (e) As of their respective filing dates, all reports required to be filed by IPOB with the U.S. Securities and Exchange Commission (the “SEC”) since April 30, 2020 (the “SEC Reports”) complied in all material respects with the applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the SEC promulgated thereunder."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3015, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "091f66bc4b90522832989179d587beed1578e9289d694c3d30c668edf020eba0", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 13544, "char_start": 10529, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "As of the date hereof, there are no material outstanding or unresolved comments in comment letters received by IPOB from the staff of the Division of Corporation Finance of the SEC with respect to any of the SEC Reports. (f) IPOB is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection with the issuance of the Shares pursuant to this Subscription Agreement, other than (i) filings with the SEC, (ii) filings required by applicable state securities laws, (iii) the filings required in accordance with Section 12 of this Subscription Agreement; (iv) those required by the New York Stock Exchange (“NYSE”) or Nasdaq, including with respect to obtaining approval of IPOB’s stockholders, and (v) the failure of which to obtain would not be reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. (g) As of the date hereof, IPOB has not received any written communication from a governmental authority that alleges that IPOB is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. (h) Assuming the accuracy of the Investor’s representations and warranties set forth in Section 6 of this Subscription Agreement, no registration under the Securities Act of 1933, as amended (the “Securities Act”), is required for the offer and sale of the Shares by IPOB to the Investor. (i) Neither IPOB nor any person acting on its behalf has offered or sold the Shares by any form of general solicitation or general advertising in violation of the Securities Act. (j) As of the date hereof, the issued and outstanding Class A ordinary shares of IPOB are registered pursuant to Section 12(b) of the Exchange Act. Following the Domestication, the Shares are expected to be registered under the Exchange Act. (k) IPOB is not under any obligation to pay any broker’s fee or commission in connection with the sale of the Shares other than to the Placement Agent. (l) The Other Subscription Agreements reflect the same Per Share Subscription Price and other terms with respect to the purchase of the Shares that are no more favorable to such subscriber thereunder than the terms of this Subscription Agreement, other than terms particular to the regulatory requirements of such subscriber or its affiliates or related funds. For the avoidance of doubt, this Section 5(l) shall not apply to any document entered into in connection with the Insider PIPE Investment; provided, however, that such Insider PIPE Investment shall be with respect to the same class of Class A common stock being acquired by the Investor hereunder and at the same Per Share Subscription Price. 6. Investor Representations and Warranties."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3234, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2b74f6b101a2e4e505650aab322a060d6e11658ca3380664533951077368bbf6", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 16778, "char_start": 13544, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "The Investor represents and warrants to IPOB, as of the date hereof and as of the Closing date, that: (a) The Investor (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3), (7) or (8) under the Securities Act), in each case, satisfying the applicable requirements set forth on Schedule A, (ii) is acquiring the Shares only for his, her or its own account and not for the account of others, or if the Investor is subscribing for the Shares as a fiduciary or agent for one or more investor accounts, the Investor has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is not acquiring the Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall provide the requested information set forth on Schedule A). The Investor is not an entity formed for the specific purpose of acquiring the Shares. Field: Page; Sequence: 3; Value: 2 (b) The Investor acknowledges and agrees that the Shares are being offered in a transaction not involving any public offering within the meaning of the Securities Act, that the Shares have not been registered under the Securities Act and that IPOB is not required to register the Shares except as set forth in Section 7 of this Subscription Agreement. The Investor acknowledges and agrees that the Shares may not be offered, resold, transferred, pledged or otherwise disposed of by the Investor absent an effective registration statement under the Securities Act except (i) to IPOB or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and, in each case, in accordance with any applicable securities laws of the states of the United States and other applicable jurisdictions, and that any certificates representing the Shares shall contain a restrictive legend to such effect. The Investor acknowledges and agrees that the Shares will be subject to these securities law transfer restrictions and, as a result of these transfer restrictions, the Investor may not be able to readily offer, resell, transfer, pledge or otherwise dispose of the Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. The Investor acknowledges and agrees that the Shares will not immediately be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities Act, and that the provisions of Rule 144(i) will apply to the Shares. The Investor acknowledges and agrees that it has been advised to consult legal, tax and accounting prior to making any offer, resale, transfer, pledge or disposition of any of the Shares. (c) The Investor acknowledges and agrees that the Investor is purchasing the Shares from IPOB."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3922, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d67e2b6eecf2765b0a33642d7b83f944daf6fe9270ef5bf4eb9a0b0b9da81dd5", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 20700, "char_start": 16778, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "The Investor further acknowledges that there have been no representations, warranties, covenants and agreements made to the Investor by or on behalf of IPOB, the Company, any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing or any other person or entity, expressly or by implication, other than those representations, warranties, covenants and agreements of IPOB expressly set forth in Section 5 of this Subscription Agreement. (d) The Investor acknowledges and agrees that the Investor has received such information as the Investor deems necessary in order to make an investment decision with respect to the Shares, including, with respect to IPOB, the Transaction and the business of the Company and its subsidiaries. Without limiting the generality of the foregoing, the Investor acknowledges that he, she or it has reviewed IPOB’s filings with the SEC. The Investor acknowledges and agrees that the Investor and the Investor’s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as the Investor and such Investor’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Shares. (e) The Investor became aware of this offering of the Shares solely by means of direct contact between the Investor and IPOB, the Company or a representative of IPOB or the Company, and the Shares were offered to the Investor solely by direct contact between the Investor and IPOB, the Company or a representative of IPOB or the Company. The Investor did not become aware of this offering of the Shares, nor were the Shares offered to the Investor, by any other means. The Investor acknowledges that the Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, IPOB, the Company, the Placement Agent, any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing), other than the representations and warranties of IPOB contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in IPOB. (f) The Investor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares, including those set forth in IPOB’s filings with the SEC. The Investor has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, and the Investor has sought such accounting, legal and tax advice as the Investor has considered necessary to make an informed investment decision. The Investor acknowledges that Investor shall be responsible for any of the Investor’s tax liabilities that may arise as a result of the transactions contemplated by this Subscription Agreement, and that neither IPOB nor the Company has provided any tax advice or any other representation or guarantee regarding the tax consequences of the transactions contemplated by the Subscription Agreement. Field: Page; Sequence: 4; Value: 2 (g) Alone, or together with any professional advisor(s), the Investor has adequately analyzed and fully considered the risks of an investment in the Shares and determined that the Shares are a suitable investment for the Investor and that the Investor is able at this time and in the foreseeable future to bear the economic risk of a total loss of the Investor’s investment in IPOB."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3319, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bfe444addec7a7b98e9a058ca82d032948e94b6e596480c83c2ffddfd2d9a0a9", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 24019, "char_start": 20700, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "The Investor acknowledges specifically that a possibility of total loss exists. (h) In making its decision to purchase the Shares, the Investor has relied solely upon independent investigation made by the Investor and the representations and warranties in Section 5. Without limiting the generality of the foregoing, the Investor has not relied on any statements or other information provided by or on behalf of the Placement Agent or any of their respective affiliates or any control persons, officers, directors, employees, agents or representatives of any of the foregoing concerning IPOB, the Company, the Transaction, the Transaction Agreement, this Subscription Agreement or the transactions contemplated hereby or thereby, the Shares or the offer and sale of the Shares. (i) The Investor acknowledges and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Shares or made any findings or determination as to the fairness of this investment. (j) The Investor, if not a natural person, has been duly formed or incorporated and is validly existing and is in good standing under the laws of its jurisdiction of formation or incorporation, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement. (k) The execution, delivery and performance by the Investor of this Subscription Agreement are within the powers of the Investor, have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to which the Investor is a party or by which the Investor is bound, and, if the Investor is not a natural person, will not violate any provisions of the Investor’s organizational documents, including, without limitation, its incorporation or formation papers, bylaws, indenture of trust or partnership or operating agreement, as may be applicable. The signature of the Investor on this Subscription Agreement is genuine, and the signatory, if the Investor is a natural person, has legal competence and capacity to execute the same or, if the Investor is not a natural person, the signatory has been duly authorized to execute the same, and, assuming that this Subscription Agreement constitutes the valid and binding agreement of IPOB, this Subscription Agreement constitutes a legal, valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity. (l) Neither the Investor nor, if the Investor is not a natural person, any of its officers, directors, managers, managing members, general partners or any other person acting in a similar capacity or carrying out a similar function, is (i) a person named on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List, the Sectoral Sanctions Identification List, or any other similar list of sanctioned persons administered by the U.S."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 1977, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0a561a3a50664f5ed5b43ad94aec9bb07284ec184aede6f927966d70533e4a82", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 25996, "char_start": 24019, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Treasury Department’s Office of Foreign Assets Control (“OFAC”), or any similar list of sanctioned persons administered by the European Union or any individual European Union member state, including the United Kingdom (collectively, “Sanctions Lists”); (ii) directly or indirectly owned or controlled by, or acting on behalf of, one or more persons on a Sanctions List; (iii) organized, incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision, agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, Venezuela, the Crimea region of Ukraine, or any other country or territory embargoed or subject to substantial trade restrictions by the United States, the European Union or any individual European Union member state, including the United Kingdom; (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515; or (v) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited Investor”). The Investor represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that the Investor maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. The Investor also represents that it maintains policies and procedures reasonably designed to ensure compliance with sanctions administered by the United States, the European Union, or any individual European Union member state, including the United Kingdom, to the extent applicable to it. The Investor further represents that the funds held by the Investor and used to purchase the Shares were legally derived and were not obtained, directly or indirectly, from a Prohibited Investor."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 2727, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d8e20dbdff9961f3ba20ff6f56b1f700f2ec0ef86fd83269d8c01df306bde44", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 28723, "char_start": 25996, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Field: Page; Sequence: 5; Value: 2 (m) If the Investor is or is acting on behalf of (i) an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) a plan, an individual retirement account or other arrangement that is subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), (iii) an entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement described in clauses (i) and (ii) (each, an “ERISA Plan”), or (iv) an employee benefit plan that is a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA), a non-U.S. plan (as described in Section 4(b)(4) of ERISA) or other plan that is not subject to the foregoing clauses (i), (ii) or (iii) but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively, “Similar Laws,” and together with ERISA Plans, “Plans”), the Investor represents and warrants that (A) neither IPOB nor any of its affiliates (the “Transaction Parties”) has provided investment advice or has otherwise acted as the Plan’s fiduciary, with respect to its decision to acquire and hold the Shares, and none of the parties to the Transaction is or shall at any time be the Plan’s fiduciary with respect to any decision in connection with the Investor’s investment in the Shares; and (B) its purchase of the Shares will not result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code, or any applicable Similar Law. (n) No disclosure or offering document has been prepared by Credit Suisse Securities (USA) LLC or any of its affiliates (the “Placement Agent”) in connection with the offer and sale of the Shares. (o) None of the Placement Agent, nor any of its affiliates, nor any control persons, officers, directors, employees, agents or representatives of any of the foregoing has made any independent investigation with respect to IPOB, the Company or its subsidiaries or any of their respective businesses, or the Shares or the accuracy, completeness or adequacy of any information supplied to the Investor by IPOB. (p) In connection with the issue and purchase of the Shares, the Placement Agent has not acted as the Investor’s financial advisor or fiduciary. (q) The Investor has or has commitments to have and, when required to deliver payment to IPOB pursuant to Section 2 above, will have, sufficient funds to pay the Subscription Amount and consummate the purchase and sale of the Shares pursuant to this Subscription Agreement. 7."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3023, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7c7a60a04ffc7a57505e98ddf6a441a6e7b6cf875d68a62aa54ba7b4ea2f9156", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 31746, "char_start": 28723, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Registration Rights. (a) IPOB agrees that, within thirty (30) calendar days following the Closing Date (such deadline, the “Filing Deadline”), IPOB will submit to or file with the SEC a registration statement for a shelf registration on Form S-1 or Form S-3 (if the Company is then eligible to use a Form S-3 shelf registration) (the “Registration Statement”), in each case, covering the resale of the Shares acquired by the Investor pursuant to this Agreement which are eligible for registration (determined as of two (2) business days prior to such submission or filing) (the “Registrable Shares”) and IPOB shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following the filing date thereof if the SEC notifies IPOB that it will “review” the Registration Statement and (ii) the 10th business day after the date IPOB is notified (orally or in writing, whichever is earlier) by the SEC that the Registration Statement will not be “reviewed” or will not be subject to further review (such earlier date, the “Effectiveness Deadline”); provided, however, that IPOB’s obligations to include the Registrable Shares in the Registration Statement are contingent upon Investor furnishing in writing to IPOB such information regarding Investor, the securities of IPOB held by Investor and the intended method of disposition of the Registrable Shares (which shall be limited to non-underwritten public offerings) as shall be reasonably requested by IPOB to effect the registration of the Registrable Shares, and Investor shall execute such documents in connection with such registration as IPOB may reasonably request that are customary of a selling stockholder in similar situations, including providing that IPOB shall be entitled to postpone and suspend the effectiveness or use of the Registration Statement, if applicable, during any customary blackout or similar period or as permitted hereunder; provided that Investor shall not in connection with the foregoing be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Registrable Shares. For as long as the Investor holds Shares, IPOB will use commercially reasonable efforts to file all reports for so long as the condition in Rule 144(c)(1) (or Rule 144(i)(2), if applicable) is required to be satisfied, and provide all customary and reasonable cooperation, necessary to enable the undersigned to resell the Shares pursuant to Rule 144 of the Securities Act (in each case, when Rule 144 of the Securities Act becomes available to the Investors). Any failure by IPOB to file the Registration Statement by the Filing Deadline or to effect such Registration Statement by the Effectiveness Deadline shall not otherwise relieve IPOB of its obligations to file or effect the Registration Statement as set forth above in this Section 7."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 2353, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d7bfff8c8781f2e1382fb5c06cb0ba43694baca2b080b0eb0b3697494614a58e", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 34099, "char_start": 31746, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Field: Page; Sequence: 6; Value: 2 (b) At its expense IPOB shall: (i) except for such times as IPOB is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities laws which IPOB determines to obtain, continuously effective with respect to Investor, and to keep the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of the following: (A) Investor ceases to hold any Registrable Shares, (B) the date all Registrable Shares held by Investor may be sold without restriction under Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for IPOB to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (C) two years from the date of effectiveness of the Registration Statement. The period of time during which IPOB is required hereunder to keep a Registration Statement effective is referred to herein as the “Registration Period”; (ii) advise Investor, as expeditiously as possible: (1) when a Registration Statement or any amendment thereto has been filed with the SEC; (2) after it shall receive notice or obtain knowledge thereof, of the issuance by the SEC of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; (3) of the receipt by IPOB of any notification with respect to the suspension of the qualification of the Registrable Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and (4) subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3681, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6925192b59b33029086e25c38233be46c5360233feda21a952e978799f630285", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 37780, "char_start": 34099, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Notwithstanding anything to the contrary set forth herein, IPOB shall not, when so advising Investor of such events, provide Investor with any material, nonpublic information regarding IPOB other than to the extent that providing notice to Investor of the occurrence of the events listed in (1) through (4) above constitutes material, nonpublic information regarding IPOB; Field: Page; Sequence: 7; Value: 2 (iii) use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement as soon as reasonably practicable; (iv) upon the occurrence of any event contemplated in Section 7(b)(ii)(4) above, except for such times as IPOB is permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, IPOB shall use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; (v) use its commercially reasonable efforts to cause all Registrable Shares to be listed on each securities exchange or market, if any, on which the Class A Shares issued by IPOB have been listed; (vi) use its commercially reasonable efforts to allow the Investor to review disclosure regarding the Investor in the Registration Statement; and (vii) otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Investor, consistent with the terms of this Agreement, in connection with the registration of the Registrable Shares. (c) Notwithstanding anything to the contrary in this Subscription Agreement, IPOB shall be entitled to delay the filing or effectiveness of, or suspend the use of, the Registration Statement if it determines that in order for the Registration Statement not to contain a material misstatement or omission, (i) an amendment thereto would be needed to include information that would at that time not otherwise be required in a current, quarterly, or annual report under the Exchange Act, (ii) the negotiation or consummation of a transaction by IPOB or its subsidiaries is pending or an event has occurred, which negotiation, consummation or event IPOB’s board of directors reasonably believes would require additional disclosure by IPOB in the Registration Statement of material information that IPOB has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the reasonable determination of IPOB’s board of directors to cause the Registration Statement to fail to comply with applicable disclosure requirements, or (iii) in the good faith judgment of the majority of IPOB’s board of directors, such filing or effectiveness or use of such Registration Statement, would be seriously detrimental to the Company and the majority of the IPOB board or directors concludes as a result that it is essential to defer such filing (each such circumstance, a “Suspension Event”); provided, however, that IPOB may not delay or suspend the Registration Statement on more than three occasions or for more than ninety (90) consecutive calendar days, or more than one hundred and twenty (120) total calendar days in each case during any twelve-month period."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 1882, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a7dc38bc17622e01d47618d88218f829a5ba61308713461fd2cb8a14d39db7ac", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 39662, "char_start": 37780, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Upon receipt of any written notice from IPOB of the happening of any Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein (in light of the circumstances under which they were made, in the case of the prospectus) not misleading, Investor agrees that (i) it will immediately discontinue offers and sales of the Registrable Shares under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until Investor receives copies of a supplemental or amended prospectus (which IPOB agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by IPOB that it may resume such offers and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by IPOB unless otherwise required by law or subpoena. If so directed by IPOB, Investor will deliver to IPOB or, in Investor’s sole discretion destroy, all copies of the prospectus covering the Registrable Shares in Investor’s possession; provided, however, that this obligation to deliver or destroy all copies of the prospectus covering the Registrable Shares shall not apply (A) to the extent Investor is required to retain a copy of such prospectus (1) in order to comply with applicable legal, regulatory, self-regulatory or professional requirements or (2) in accordance with a bona fide pre-existing document retention policy or (B) to copies stored electronically on archival servers as a result of automatic data back-up."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3619, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4448af06b7dbe1ead705835dbe321d2f996f64112b9969ed8802eb71efc721fd", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 43281, "char_start": 39662, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Field: Page; Sequence: 8; Value: 2 (d) Indemnification. (i) IPOB agrees to indemnify, to the extent permitted by law, Investor (to the extent a seller under the Registration Statement), its directors and officers and each person who controls Investor (within the meaning of the Securities Act), to the extent permitted by law, against all losses, claims, damages, liabilities and reasonable and documented out of pocket expenses (including reasonable and documented attorneys’ fees of one law firm) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement, prospectus included in any Registration Statement (“Prospectus”) or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading, except insofar as the same are caused by or contained in any information or affidavit so furnished in writing to IPOB by or on behalf of such Investor expressly for use therein. (ii) In connection with any Registration Statement in which an Investor is participating, such Investor shall furnish (or cause to be furnished) to IPOB in writing such information and affidavits as IPOB reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify IPOB, its directors and officers and each person or entity who controls IPOB (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including, without limitation, reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact contained or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading, but only to the extent that such untrue statement or omission is contained (or not contained in, in the case of an omission) in any information or affidavit so furnished in writing by on behalf of such Investor expressly for use therein; provided, however, that the liability of each such Investor shall be several and not joint and shall be in proportion to and limited to the net proceeds received by such Investor from the sale of Registrable Shares giving rise to such indemnification obligation. (iii) Any person or entity entitled to indemnification herein shall (A) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s or entity’s right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (B) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld)."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3492, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8780b77c3075fa389c99b8a84df7b648f099d5d29f2f2604f5dfa32c53552ef8", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 46773, "char_start": 43281, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement includes a statement or admission of fault and culpability on the part of such indemnified party or which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. Field: Page; Sequence: 9; Value: 2 (iv) The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall survive the transfer of securities. (v) If the indemnification provided under this Section 7(d) from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations; provided, however, the liability of the Investor shall be limited to the net proceeds received by such Investor from the sale of Registrable Shares giving rise to such indemnification obligation. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by, in the case of an omission), such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 7(d)(i), (ii) and (iii) above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 7(d)(v) from any person or entity who was not guilty of such fraudulent misrepresentation. 8. Termination."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3287, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8303f5fed6fef12dfbc128d132df1e0eb2fa827e3b566a6acfb8d4e9b17a6c63", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 50060, "char_start": 46773, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earliest to occur of (i) such date and time as the Transaction Agreement is terminated in accordance with its terms, (ii) upon the mutual written agreement of each of the parties hereto (and the Company) to terminate this Subscription Agreement, (iii) if the conditions to Closing set forth in Section 3 of this Subscription Agreement are not satisfied, or are not capable of being satisfied, on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement will not be or are not consummated at the Closing and (iv) March 31, 2021; provided that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from any such willful breach. IPOB shall notify the Investor of the termination of the Transaction Agreement promptly after the termination of such agreement. Upon the termination of this Subscription Agreement in accordance with this Section 8, any monies paid by the Investor to IPOB in connection herewith shall be promptly (and in any event within one business day after such termination) returned to the Investor. 9. Trust Account Waiver. The Investor acknowledges that IPOB is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving IPOB and one or more businesses or assets. The Investor further acknowledges that, as described in IPOB’s prospectus relating to its initial public offering dated April 27, 2020 (the “Prospectus”) available at www.sec.gov, substantially all of IPOB’s assets consist of the cash proceeds of IPOB’s initial public offering and private placement of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of IPOB, its public shareholders and the underwriter of IPOB’s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to IPOB to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in consideration of IPOB entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, the Investor hereby irrevocably waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account, and agrees not to seek recourse against the Trust Account as a result of, or arising out of, this Subscription Agreement; provided, that nothing in this Section 9 shall be deemed to limit the Investor’s right, title, interest or claim to the Trust Account by virtue of the Investor’s record or beneficial ownership of Shares of IPOB acquired by any means other than pursuant to this Subscription Agreement. Field: Page; Sequence: 10; Value: 2 10."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 3998, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8ad65d1bbe412236eb6dc1f7215931e628faebbda86cafe90f6a96e8895686d6", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 54058, "char_start": 50060, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p18", "passage_kind": "narrative", "passage_sequence": 18, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Miscellaneous. (a) Neither this Subscription Agreement nor any rights that may accrue to the Investor hereunder (other than the Shares acquired hereunder, if any) may be transferred or assigned, other than an assignment to any fund or account managed by the same investment manager as the Investor or an affiliate thereof, subject to, if such transfer or assignment is prior to the Closing, such transferee or assignee, as applicable, executing a joinder to this Subscription Agreement or a separate subscription agreement in substantially the same form as this Subscription Agreement, including with respect to the Subscription Amount and other terms and conditions, provided, that, in the case of any such transfer or assignment, the initial party to this Subscription Agreement shall remain bound by its obligations under this Subscription Agreement in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of Shares contemplated hereby. Neither this Subscription Agreement nor any rights that may accrue to IPOB hereunder or any of IPOB’s obligations may be transferred or assigned other than pursuant to the Transactions. (b) IPOB may request from the Investor such additional information as IPOB may deem necessary to evaluate the eligibility of the Investor to acquire the Shares and in connection with the inclusion of the Shares in the Registration Statement, and the Investor shall provide such information as may reasonably be requested, to the extent readily available and to the extent consistent with its internal policies and procedures. The Investor acknowledges that IPOB may file a copy of this Subscription Agreement with the SEC as an exhibit to a current or periodic report or a registration statement of IPOB. (c) The Investor acknowledges that IPOB, the Placement Agent (as third party beneficiary with right of enforcement) and others will rely on the acknowledgments, understandings, agreements, representations and warranties of the Investor contained in this Subscription Agreement. Prior to the Closing, the Investor agrees to promptly notify IPOB, the Company and the Placement Agent if any of the acknowledgments, understandings, agreements, representations and warranties of the Investor set forth herein are no longer accurate. (d) IPOB, the Placement Agent and the Investor are each entitled to rely upon this Subscription Agreement and each is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. (e) All of the representations and warranties contained in this Subscription Agreement shall survive the Closing. All of the covenants and agreements made by each party hereto in this Subscription Agreement shall survive the Closing. (f) This Subscription Agreement may not be modified, waived or terminated (other than pursuant to the terms of Section 8 above) except by an instrument in writing, signed by each of the parties hereto and, to the extent required by the Transaction Agreement, the Company. No failure or delay of either party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties and third party beneficiaries hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have hereunder. (g) This Subscription Agreement (including the schedule hereto) constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b7"], "char_count": 2139, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2fe7f26081a99d8724ecf500adea1f4519348bc366da03ff3cefd43542e0a4b4", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 7, "char_end": 56197, "char_start": 54058, "fragment_sha256": "42d1a6190a23ccdb8599438575beaa414ef4b8e0bfec8f12001bb51288376968", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p19", "passage_kind": "narrative", "passage_sequence": 19, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Except as set forth in Section 10(c) with respect to the persons referenced therein, this Subscription Agreement shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns. (h) Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. Field: Page; Sequence: 11; Value: 2 (i) If any provision of this Subscription Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. (j) This Subscription Agreement may be executed in one or more counterparts (including by electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement. (k) The parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement, without posting a bond or undertaking and without proof of damages, to enforce specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b29"], "char_count": 1545, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a6ef2db7c5b3dad513cd2d4aa4d76dbd5c798488f19177837614853f754988b2", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 29, "char_end": 1545, "char_start": 0, "fragment_sha256": "2dd3f5fadabae71474e6a8ce88bee27e96d12f19f3d678442f9f4ad2f0b143c7", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p20", "passage_kind": "narrative", "passage_sequence": 20, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "(l) THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE court of chancery of the state of delaware (or, to the extent such court does not have subject matter jurisdiction, the superior court of the state of delaware, or the united states district court for the district of delaware) SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A delaware STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN THIS SECTION 10(l) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b30"], "char_count": 1055, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "45846f26683ae886a62cdf25ab8df2f983c575451d76969d53a19ddaf7a8994a", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 30, "char_end": 1055, "char_start": 0, "fragment_sha256": "7797ed89164eaaa38be6e0e4d5ad4ec26a40633c74eb74b648fd54eff9f9ce2e", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p21", "passage_kind": "narrative", "passage_sequence": 21, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "(m) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 10(m)."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b31"], "char_count": 3749, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a2851d60fbef5a0ec912165707b669659cc6188d68f49f25ad46e40372e957f4", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 31, "char_end": 3749, "char_start": 0, "fragment_sha256": "9666e5bd194421fe729e524d70c7e50ff3118189bce6492d823e761acf7d06f0", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p22", "passage_kind": "narrative", "passage_sequence": 22, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "Field: Page; Sequence: 12; Value: 2 11. Non-Reliance and Exculpation. The Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person, firm or corporation (including, without limitation, the Placement Agent, any of its affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), other than the statements, representations and warranties of IPOB expressly contained in Section 5 of this Subscription Agreement, in making its investment or decision to invest in IPOB. The Investor acknowledges and agrees that none of (i) any other investor pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the Shares (including the investor’s respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), (ii) the Placement Agent, its affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing, (iii) any other party to the Transaction Agreement (other than IPOB), or (iv) any affiliates, or any control persons, officers, directors, employees, partners, agents or representatives of any of IPOB, the Company or any other party to the Transaction Agreement shall be liable to the Investor, or to any other investor, pursuant to this Subscription Agreement or any other subscription agreement related to the private placement of the Shares, the negotiation hereof or thereof or the subject matter hereof or thereof, or the transactions contemplated hereby or thereby, for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Shares. 12. Press Releases. IPOB shall, by 9:00 a.m., New York City time, on the first business day immediately following the date of this Subscription Agreement, issue one or more press releases or furnish or file with the SEC a Current Report on Form 8-K (collectively, the “Disclosure Document”) disclosing, to the extent not previously publicly disclosed, the PIPE Investment, all material terms of the Transaction and any other material, non-public information that IPOB has provided to the Investor at any time prior to the filing of the Disclosure Document. From and after the disclosure of the Disclosure Document, to the knowledge of IPOB, the Investors shall not be in possession of any material, non-public information received from IPOB or any of its officers, directors or employees. All press releases or other public communications relating to the transactions contemplated hereby between IPOB and the Investor, and the method of the release for publication thereof, shall be subject to the prior approval of (i) IPOB, and (ii) to the extent such press release or public communication references the Investor or its affiliates or investment advisers by name, the Investor, which approval shall not be unreasonably withheld or conditioned; provided that neither IPOB nor the Investor shall be required to obtain consent pursuant to this Section 12 to the extent any proposed release or statement is substantially equivalent to the information that has previously been made public without breach of the obligation under this Section 12. The restriction in this Section 12 shall not apply to the extent the public announcement is required by applicable securities law, any governmental authority or stock exchange rule; provided, that in such an event, the applicable party shall use its commercially reasonable efforts to consult with the other party in advance as to its form, content and timing. 13. Notices."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b31"], "char_count": 1650, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "73381422b2b1c6bddef83a2792d9063e2262df5d4454ad74889d406ef03bf7aa", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 31, "char_end": 5399, "char_start": 3749, "fragment_sha256": "9666e5bd194421fe729e524d70c7e50ff3118189bce6492d823e761acf7d06f0", "heading_path": ["EXECUTION VERSION", "SUBSCRIPTION AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-1.htm", "table_id": null, "text": "All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service, or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding any automated reply, such as an out-of-office notification), addressed as follows: If to the Investor, to the address provided on the Investor’s signature page hereto. If to IPOB, to: Social Capital Hedosophia Holdings Corp. II 120 Hawthorne Avenue Palo Alto, California Attention: Steve Trieu Email: steve@socialcapital.com Field: Page; Sequence: 13; Value: 2 with copies to (which shall not constitute notice), to: Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, New York 10036 Attention: Howard L. Ellin Christopher M. Barlow P. Michelle Gasaway Email: howard.ellin@skadden.com christopher.barlow@skadden.com michelle.gasaway@skadden.com and Opendoor Labs Inc. 1 Post Street, Floor 11 San Francisco, CA 94104 Attention: Legal Department Email: legal@opendoor.com and Latham & Watkins LLP 885 Third Avenue New York, NY 10022 Attention: Justin G. Hamill Joshua Dobofsky Kristen Grannis Email: justin.hamill@lw.com joshua.dubofsky@lw.com kristen.grannis@lw.com or to such other address or addresses as the parties may from time to time designate in writing. Copies delivered solely to outside counsel shall not constitute notice."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm#b37"], "char_count": 204, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "53e590dd5a1a5f7052fea370ebc7f2185ac211dd90c61adb6cc40cd2742d74e3", "derivation_id": "69e56e9a0087968d6d1bcfd95bbc2eb8d022f761d8c9a26f8896f974d6b2b1ad", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "[SIGNATURE PAGES FOLLOW]"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-1.htm", "block_sequence": 37, "char_end": 204, "char_start": 0, "fragment_sha256": 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II, a Cayman Islands exempted company limited by shares (which shall domesticate as a Delaware corporation prior to the Closing (as defined in the Merger Agreement (as defined below))) (\u201cAcquiror\u201d), and Opendoor Labs Inc., a Delaware corporation (the \u201cCompany\u201d). Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b8", + "block_sequence": 8, + "block_sha256": "eb1352613f6b1f92be8379b615ec782f784d20f5cbe9c138c65ad6732471d6e3", + "block_type": "heading", + "char_count": 8, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 8, + "char_end": 8, + "char_start": 0, + "fragment_sha256": "7e4e925ef8f91395a415baf89274d6f3178dc0a0b2a3db506dd8cfc0def23f38", + "heading_path": [ + "EXECUTION VERSION", + "RECITALS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s5", + "table": null, + "text": "RECITALS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b9", + "block_sequence": 9, + "block_sha256": "bf0d1c0abcfcd2a672bebc9e4d2cafc52244e013b236462b3f9fb2d283357974", + "block_type": "paragraph", + "char_count": 1087, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 9, + "char_end": 1087, + "char_start": 0, + "fragment_sha256": "733948ff11bf168a084ae549cf2f950443c3399301cbade4b2166670ef676e38", + "heading_path": [ + "EXECUTION VERSION", + "RECITALS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s5", + "table": null, + "text": "WHEREAS, as of the date hereof, the Sponsors collectively are the holders of record and the \u201cbeneficial owners\u201d (within the meaning of Rule 13d-3 under the Exchange Act) of 10,350,000 Acquiror Common Shares and 6,133,333 Acquiror Warrants in the aggregate as set forth on Schedule I attached hereto; WHEREAS, contemporaneously with the execution and delivery of this Sponsor Agreement, Acquiror, Hestia Merger Sub Inc., a Delaware corporation (\u201cMerger Sub\u201d), and the Company, have entered into an Agreement and Plan of Merger (as amended or modified from time to time, the \u201cMerger Agreement\u201d), dated as of the date hereof, pursuant to which, among other transactions, Merger Sub is to merge with and into the Company, with the Company continuing on as the surviving entity and a wholly owned subsidiary of Acquiror, on the terms and conditions set forth therein; and WHEREAS, as an inducement to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the parties hereto desire to agree to certain matters as set forth herein." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b10", + "block_sequence": 10, + "block_sha256": "03c89c21a05030ba4a5e4835731d3cfffa869a709b6583769e9a8bb826c7d245", + "block_type": "heading", + "char_count": 9, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 10, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "f35bcfbfb70d77955df20997cd895e9ef6fff07fd840101a02d24d45cf8e9ace", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s6", + "table": null, + "text": "AGREEMENT" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b11", + "block_sequence": 11, + "block_sha256": "84bb6e377bd602b107da94a289eecc3d152938759c4d12c5d67932a623661e6d", + "block_type": "paragraph", + "char_count": 179, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 11, + "char_end": 179, + "char_start": 0, + "fragment_sha256": "06af9240f33f2ff0637d7e10debc8690cc728ec377864503834d942eb903a78e", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s6", + "table": null, + "text": "NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b12", + "block_sequence": 12, + "block_sha256": "9de58537e466cb982caca751636ff01dc2860003f17e43c8eaf09e634207a705", + "block_type": "heading", + "char_count": 46, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 12, + "char_end": 46, + "char_start": 0, + "fragment_sha256": "2ee460f396e515d30def30ddd81892a175da96d509df715f1239f5ea1ae2e270", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s7", + "table": null, + "text": "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b13", + "block_sequence": 13, + "block_sha256": "1d8d998f24b917ac5e9ff2a363ea4d2f75f8fec2c9cb84e74a143b67e40a450e", + "block_type": "paragraph", + "char_count": 7130, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 13, + "char_end": 7130, + "char_start": 0, + "fragment_sha256": "2755fbd662d64deead50688442309ae4e4b47bdfa9eb6343941353b8b5a5ff10", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s7", + "table": null, + "text": "Section 1.1 Binding Effect of Merger Agreement. Each Sponsor hereby acknowledges that it has read the Merger Agreement and this Sponsor Agreement and has had the opportunity to consult with its tax and legal advisors. Each Sponsor shall be bound by and comply with Sections 7.4 (No Solicitation by Acquiror) and 12.12 (Publicity) of the Merger Agreement (and any relevant definitions contained in any such Sections) as if such Sponsor was an original signatory to the Merger Agreement with respect to such provisions. Field: Page; Sequence: 1 Section 1.2 No Transfer. During the period commencing on the date hereof and ending on the earliest of (a) the Effective Time, (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof (the earlier of (a) and (b), the \u201cExpiration Time\u201d) and (c) the liquidation of Acquiror, each Sponsor shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with the SEC (other than the Proxy Statement/Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any Acquiror Common Shares or Acquiror Warrants owned by such Sponsor, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any shares of Acquiror Common Shares or Acquiror Warrants owned by such Sponsor or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Section 1.3 New Shares. In the event that (a) any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror are issued to a Sponsor after the date of this Sponsor Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Acquiror Common Shares or Acquiror Warrants of, on or affecting the Acquiror Common Shares or Acquiror Warrants owned by such Sponsor or otherwise, (b) a Sponsor purchases or otherwise acquires beneficial ownership of any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror after the date of this Sponsor Agreement, or (c) a Sponsor acquires the right to vote or share in the voting of any Acquiror Common Shares or other equity securities of Acquiror after the date of this Sponsor Agreement (such Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror, collectively the \u201cNew Securities\u201d), then such New Securities acquired or purchased by such Sponsor shall be subject to the terms of this Sponsor Agreement to the same extent as if they constituted the Acquiror Common Shares or Acquiror Warrants owned by such Sponsor as of the date hereof. Section 1.4 Closing Date Deliverables. On the Closing Date, the Sponsor Holdco and the Director Holders (as defined therein) shall deliver to Acquiror and the Company a duly executed copy of that certain Amended and Restated Registration Rights Agreement, by and among Acquiror, the Company, the Sponsor Holdco, certain of the Company\u2019s stockholders or their respective affiliates, as applicable, the Director Holders and the Investor Stockholders (as defined therein), in substantially the form attached as Exhibit C to the Merger Agreement. Section 1.5 Sponsor Agreements. (a) At any meeting of the shareholders of Acquiror, however called, or at any adjournment thereof, or in any other circumstance in which the vote, consent or other approval of the shareholders of Acquiror is sought, each Sponsor shall (i) appear at each such meeting or otherwise cause all of its Acquiror Common Shares to be counted as present thereat for purposes of calculating a quorum and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, all of its Acquiror Common Shares: Field: Page; Sequence: 2; Options: NewSection; Value: 2 (i) in favor of each Transaction Proposal; (ii) against any Business Combination Proposal or any proposal relating to a Business Combination Proposal (in each case, other than the Transaction Proposals); (iii) against any merger agreement or merger (other than the Merger Agreement and the Merger), consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by Acquiror; (iv) against any change in the business, management or Board of Directors of Acquiror (other than in connection with the Transaction Proposals); and (v) against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement, the Merger Agreement or any Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of Acquiror or the Merger Sub under the Merger Agreement, (C) result in any of the conditions set forth in Article IX of the Merger Agreement not being fulfilled or (D) change in any manner the dividend policy or capitalization of, including the voting rights of any class of capital stock of, Acquiror. Each Sponsor hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing. (b) Each Sponsor shall comply with, and fully perform all of its obligations, covenants and agreements set forth in, that certain Letter Agreement, dated as of April 27, 2020, by and among the Sponsors and Acquiror (the \u201cVoting Letter Agreement\u201d), including the obligations of the Sponsors pursuant to Section 1 therein to not redeem any Acquiror Common Shares owned by such Sponsor in connection with the transactions contemplated by the Merger Agreement. (c) During the period commencing on the date hereof and ending on the earlier of the consummation of the Closing and the termination of the Merger Agreement pursuant to Article X thereof, each Sponsor shall not modify or amend any Contract between or among such Sponsor, anyone related by blood, marriage or adoption to such Sponsor or any Affiliate of such Sponsor (other than Acquiror or any of its Subsidiaries), on the one hand, and Acquiror or any of Acquiror\u2019s Subsidiaries, on the other hand, including, for the avoidance of doubt, the Voting Letter Agreement. Section 1.6 Further Assurances. Each Sponsor shall take, or cause to be taken, all actions and do, or cause to be done, all things reasonably necessary under applicable Laws to consummate the Mergers and the other transactions contemplated by the Merger Agreement on the terms and subject to the conditions set forth therein and herein. Field: Page; Sequence: 3; Value: 2 Section 1.7 No Inconsistent Agreement. Each Sponsor hereby represents and covenants that such Sponsor has not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Sponsor\u2019s obligations hereunder." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b14", + "block_sequence": 14, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 14, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s7", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b15", + "block_sequence": 15, + "block_sha256": "ddc2bcccbb51f53f26ed7542840fed3c71ddfea08835dfcfb3c862a2e09afee5", + "block_type": "page_number", + "char_count": 62, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 15, + "char_end": 62, + "char_start": 0, + "fragment_sha256": "76f2f624c79f7030404f54022bbcff584241857a0d999f1124d9feb647ac708a", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE I SPONSOR SUPPORT AGREEMENT; 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Each Sponsor represents and warrants as of the date hereof to Acquiror and the Company (solely with respect to itself, himself or herself and not with respect to any other Sponsor) as follows: (a) Organization; Due Authorization. If such Sponsor is not an individual, it is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance of this Sponsor Agreement and the consummation of the transactions contemplated hereby are within such Sponsor\u2019s corporate, limited liability company or organizational powers and have been duly authorized by all necessary corporate, limited liability company or organizational actions on the part of such Sponsor. If such Sponsor is an individual, such Sponsor has full legal capacity, right and authority to execute and deliver this Sponsor Agreement and to perform his or her obligations hereunder. This Sponsor Agreement has been duly executed and delivered by such Sponsor and, assuming due authorization, execution and delivery by the other parties to this Sponsor Agreement, this Sponsor Agreement constitutes a legally valid and binding obligation of such Sponsor, enforceable against such Sponsor in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors\u2019 rights and general principles of equity affecting the availability of specific performance and other equitable remedies). If this Sponsor Agreement is being executed in a representative or fiduciary capacity, the Person signing this Sponsor Agreement has full power and authority to enter into this Sponsor Agreement on behalf of the applicable Sponsor. (b) Ownership. Such Sponsor is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, all of such Sponsor\u2019s Acquiror Common Shares and Acquiror Warrants, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Acquiror Common Shares or Acquiror Warrants (other than transfer restrictions under the Securities Act)) affecting any such Acquiror Common Shares or Acquiror Warrants, other than Liens pursuant to (i) this Sponsor Agreement, (ii) the Acquiror Governing Documents, (iii) the Merger Agreement, (iv) the Voting Letter Agreement or (v) any applicable securities Laws. Such Sponsor\u2019s Acquiror Common Shares and Acquiror Warrants are the only equity securities in Acquiror owned of record or beneficially by such Sponsor on the date of this Sponsor Agreement, and none of such Sponsor\u2019s Acquiror Common Shares or Acquiror Warrants are subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Acquiror Common Shares or Acquiror Warrants, except as provided hereunder and under the Voting Letter Agreement. Other than the Acquiror Warrants, such Sponsor does not hold or own any rights to acquire (directly or indirectly) any equity securities of Acquiror or any equity securities convertible into, or which can be exchanged for, equity securities of Acquiror. Field: Page; Sequence: 4; Value: 2 (c) No Conflicts. The execution and delivery of this Sponsor Agreement by such Sponsor does not, and the performance by such Sponsor of his, her or its obligations hereunder will not, (i) if such Sponsor is not an individual, conflict with or result in a violation of the organizational documents of such Sponsor or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Sponsor or such Sponsor\u2019s Acquiror Common Shares or Acquiror Warrants), in each case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such Sponsor of its, his or her obligations under this Sponsor Agreement. (d) Litigation. There are no Actions pending against such Sponsor, or to the knowledge of such Sponsor threatened against such Sponsor, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Sponsor of its, his or her obligations under this Sponsor Agreement. (e) Brokerage Fees. Except as described on Section 5.13 of the Acquiror Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders\u2019 fee or other commission in connection with the transactions contemplated by the Merger Agreement based upon arrangements made by such Sponsor, for which Acquiror or any of its Affiliates may become liable. (f) Affiliate Arrangements. Except as set forth on Schedule II attached hereto, neither such Sponsor nor any anyone related by blood, marriage or adoption to such Sponsor or, to the knowledge of such Sponsor, any Person in which such Sponsor has a direct or indirect legal, contractual or beneficial ownership of 5% or greater is party to, or has any rights with respect to or arising from, any Contract with Acquiror or its Subsidiaries. (g) Acknowledgment. Such Sponsor understands and acknowledges that each of Acquiror and the Company is entering into the Merger Agreement in reliance upon such Sponsor\u2019s execution and delivery of this Sponsor Agreement." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b21", + "block_sequence": 21, + "block_sha256": "81074ac0e1e90e8911f96b921ba7ec7176557eea50bdb75d39bef6b3923323b4", + "block_type": "page_number", + "char_count": 62, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 21, + "char_end": 62, + "char_start": 0, + "fragment_sha256": "d0278fe07cba4fd7cf2872a3761c8b0b832a04d8926034650e92164f0c2944be", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE II REPRESENTATIONS AND WARRANTIES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s8", + "table": null, + "text": "Field: Sequence; Type: Arabic; Name: PageNo 4 Field: /Sequence" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b22", + "block_sequence": 22, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 22, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE II REPRESENTATIONS AND WARRANTIES" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s8", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b23", + "block_sequence": 23, + "block_sha256": "6da63d94e4694eb166908a7bd1ac2e6ed886d80a40593c2b55ded11fbb74e1ea", + "block_type": "heading", + "char_count": 25, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 23, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "b20f7787cdcc7bc6640a49b938682f0fa1c281500529070569dc467e9348dce1", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE III MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s9", + "table": null, + "text": "ARTICLE III MISCELLANEOUS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b24", + "block_sequence": 24, + "block_sha256": "ec26d5629f6d9f25e80d78d49b975b0d2b030e909afff633ec1ccdb8a8d437cb", + "block_type": "paragraph", + "char_count": 1651, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 24, + "char_end": 1651, + "char_start": 0, + "fragment_sha256": "af4ca637ec040ca041b1395f528ac78f7cf2ff0b6d4166a7fab6bcd6111242cb", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE III MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s9", + "table": null, + "text": "Section 3.1 Termination. This Sponsor Agreement and all of its provisions shall terminate and be of no further force or effect upon the earliest of (a) the Expiration Time, (b) the liquidation of Acquiror and (c) the written agreement of the Sponsor, Acquiror, and the Company. Upon such termination of this Sponsor Agreement, all obligations of the parties under this Sponsor Agreement will terminate, without any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Sponsor Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Sponsor Agreement prior to such termination. This ARTICLE III shall survive the termination of this Agreement. Field: Page; Sequence: 5; Value: 2 Section 3.2 Governing Law. This Sponsor Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Sponsor Agreement or the negotiation, execution or performance of this Sponsor Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Sponsor Agreement) will be governed by and construed in accordance with the internal Laws of the State of Delaware applicable to agreements executed and performed entirely within such State." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b25", + "block_sequence": 25, + "block_sha256": "77fe908ef016f8078c08dfdfd2c4889ede12aafbbec099b53ddfec76730d19b1", + "block_type": "page_number", + "char_count": 62, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 25, + "char_end": 62, + "char_start": 0, + "fragment_sha256": "f9dac948717a46befc3e2487be6380256e5a626d8df0b56fe3bc87cb84056157", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE III MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s9", + "table": null, + "text": "Field: Sequence; Type: Arabic; Name: PageNo 5 Field: /Sequence" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b26", + "block_sequence": 26, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 26, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE III MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s9", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b27", + "block_sequence": 27, + "block_sha256": "29e5116f277bec989b537a614e22e84f814d5a5156a6b096e7e5dbc73a22dcea", + "block_type": "heading", + "char_count": 81, + "level": 1, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 27, + "char_end": 81, + "char_start": 0, + "fragment_sha256": "f769e07f6f2371c4013f2c5b7aab0e8e108915b2a296bfcbff9a1be56383f37d", + "heading_path": [ + "Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL." + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", + "table": null, + "text": "Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b28", + "block_sequence": 28, + "block_sha256": "c95fd7e51574d571326797bbf8b633b8c778b8740c82a17acfbc2a539499485d", + "block_type": "paragraph", + "char_count": 1189, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 28, + "char_end": 1189, + "char_start": 0, + "fragment_sha256": "d1568a5029407bc626159878a3e8ce18cea5883fc2d6c8470cc0dffbf58a50b7", + "heading_path": [ + "Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL." + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", + "table": null, + "text": "(a) THE PARTIES TO THIS SPONSOR AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS LOCATED IN WILMINGTON, DELAWARE OR THE COURTS OF THE UNITED STATES LOCATED IN WILMINGTON, DELAWARE IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SPONSOR AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS SPONSOR AGREEMENT WAIVE, AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS SPONSOR AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT THERETO OR THAT SUCH ACTION MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS OR THAT THIS SPONSOR AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS OR THAT THEIR PROPERTY IS EXEMPT OR IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER. SERVICE OF PROCESS WITH RESPECT THERETO MAY BE MADE UPON ANY PARTY TO THIS SPONSOR AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS AS PROVIDED IN Section 3.8." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b29", + "block_sequence": 29, + "block_sha256": "6cd75021ebe05867b996bff6c5cdd6618621cfc494133a0f71332dcf6d131b6d", + "block_type": "paragraph", + "char_count": 1031, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", + "block_sequence": 29, + "char_end": 1031, + "char_start": 0, + "fragment_sha256": "647864f3e40ae6297855316ef829a86af48942f592ae7cbae9c164344f3d8aa1", + "heading_path": [ + "Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL." + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", + "table": null, + "text": "(b) WAIVER OF TRIAL BY JURY. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SPONSOR AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SPONSOR AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SPONSOR AGREEMENT. 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"sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "Exhibit 10.2"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b7"], "char_count": 744, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "195064c5b85e24c447550f4d07f4d8fdaffc934dffb5d22e58444eb9e4a7ed74", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "SPONSOR SUPPORT AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 7, "char_end": 744, "char_start": 0, "fragment_sha256": "7dda09aa611b23d5c1c58daebb622df9c702b82c1aea03c78430526d029540eb", "heading_path": ["EXECUTION VERSION", "SPONSOR SUPPORT AGREEMENT"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s4", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "This Sponsor Support Agreement (this “Sponsor Agreement”) is dated as of September 15, 2020, by and among SCH Sponsor II LLC, a Cayman Islands exempted company (the “Sponsor Holdco”), the Persons set forth on Schedule I hereto (together with the Sponsor Holdco, each, a “Sponsor” and, together, the “Sponsors”), Social Capital Hedosophia Holdings Corp. II, a Cayman Islands exempted company limited by shares (which shall domesticate as a Delaware corporation prior to the Closing (as defined in the Merger Agreement (as defined below))) (“Acquiror”), and Opendoor Labs Inc., a Delaware corporation (the “Company”). Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b9"], "char_count": 1087, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bf0d1c0abcfcd2a672bebc9e4d2cafc52244e013b236462b3f9fb2d283357974", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "RECITALS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 9, "char_end": 1087, "char_start": 0, "fragment_sha256": "733948ff11bf168a084ae549cf2f950443c3399301cbade4b2166670ef676e38", "heading_path": ["EXECUTION VERSION", "RECITALS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s5", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "WHEREAS, as of the date hereof, the Sponsors collectively are the holders of record and the “beneficial owners” (within the meaning of Rule 13d-3 under the Exchange Act) of 10,350,000 Acquiror Common Shares and 6,133,333 Acquiror Warrants in the aggregate as set forth on Schedule I attached hereto; WHEREAS, contemporaneously with the execution and delivery of this Sponsor Agreement, Acquiror, Hestia Merger Sub Inc., a Delaware corporation (“Merger Sub”), and the Company, have entered into an Agreement and Plan of Merger (as amended or modified from time to time, the “Merger Agreement”), dated as of the date hereof, pursuant to which, among other transactions, Merger Sub is to merge with and into the Company, with the Company continuing on as the surviving entity and a wholly owned subsidiary of Acquiror, on the terms and conditions set forth therein; and WHEREAS, as an inducement to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the parties hereto desire to agree to certain matters as set forth herein."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b11"], "char_count": 179, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "84bb6e377bd602b107da94a289eecc3d152938759c4d12c5d67932a623661e6d", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 11, "char_end": 179, "char_start": 0, "fragment_sha256": "06af9240f33f2ff0637d7e10debc8690cc728ec377864503834d942eb903a78e", "heading_path": ["EXECUTION VERSION", "AGREEMENT"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s6", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b13"], "char_count": 3509, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c4519520f19db550d90c23dde5070970287f4a00049d78b54873855776874c59", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 13, "char_end": 3509, "char_start": 0, "fragment_sha256": "2755fbd662d64deead50688442309ae4e4b47bdfa9eb6343941353b8b5a5ff10", "heading_path": ["EXECUTION VERSION", "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s7", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "Section 1.1 Binding Effect of Merger Agreement. Each Sponsor hereby acknowledges that it has read the Merger Agreement and this Sponsor Agreement and has had the opportunity to consult with its tax and legal advisors. Each Sponsor shall be bound by and comply with Sections 7.4 (No Solicitation by Acquiror) and 12.12 (Publicity) of the Merger Agreement (and any relevant definitions contained in any such Sections) as if such Sponsor was an original signatory to the Merger Agreement with respect to such provisions. Field: Page; Sequence: 1 Section 1.2 No Transfer. During the period commencing on the date hereof and ending on the earliest of (a) the Effective Time, (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof (the earlier of (a) and (b), the “Expiration Time”) and (c) the liquidation of Acquiror, each Sponsor shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with the SEC (other than the Proxy Statement/Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any Acquiror Common Shares or Acquiror Warrants owned by such Sponsor, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any shares of Acquiror Common Shares or Acquiror Warrants owned by such Sponsor or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Section 1.3 New Shares. In the event that (a) any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror are issued to a Sponsor after the date of this Sponsor Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Acquiror Common Shares or Acquiror Warrants of, on or affecting the Acquiror Common Shares or Acquiror Warrants owned by such Sponsor or otherwise, (b) a Sponsor purchases or otherwise acquires beneficial ownership of any Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror after the date of this Sponsor Agreement, or (c) a Sponsor acquires the right to vote or share in the voting of any Acquiror Common Shares or other equity securities of Acquiror after the date of this Sponsor Agreement (such Acquiror Common Shares, Acquiror Warrants or other equity securities of Acquiror, collectively the “New Securities”), then such New Securities acquired or purchased by such Sponsor shall be subject to the terms of this Sponsor Agreement to the same extent as if they constituted the Acquiror Common Shares or Acquiror Warrants owned by such Sponsor as of the date hereof. Section 1.4 Closing Date Deliverables. On the Closing Date, the Sponsor Holdco and the Director Holders (as defined therein) shall deliver to Acquiror and the Company a duly executed copy of that certain Amended and Restated Registration Rights Agreement, by and among Acquiror, the Company, the Sponsor Holdco, certain of the Company’s stockholders or their respective affiliates, as applicable, the Director Holders and the Investor Stockholders (as defined therein), in substantially the form attached as Exhibit C to the Merger Agreement."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b13"], "char_count": 3620, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ea8318d2cb6948e6b44f08e15561de96d932acb62a685549e155cf6a96e716d5", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 13, "char_end": 7129, "char_start": 3509, "fragment_sha256": "2755fbd662d64deead50688442309ae4e4b47bdfa9eb6343941353b8b5a5ff10", "heading_path": ["EXECUTION VERSION", "ARTICLE I SPONSOR SUPPORT AGREEMENT; COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s7", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "Section 1.5 Sponsor Agreements. (a) At any meeting of the shareholders of Acquiror, however called, or at any adjournment thereof, or in any other circumstance in which the vote, consent or other approval of the shareholders of Acquiror is sought, each Sponsor shall (i) appear at each such meeting or otherwise cause all of its Acquiror Common Shares to be counted as present thereat for purposes of calculating a quorum and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, all of its Acquiror Common Shares: Field: Page; Sequence: 2; Options: NewSection; Value: 2 (i) in favor of each Transaction Proposal; (ii) against any Business Combination Proposal or any proposal relating to a Business Combination Proposal (in each case, other than the Transaction Proposals); (iii) against any merger agreement or merger (other than the Merger Agreement and the Merger), consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by Acquiror; (iv) against any change in the business, management or Board of Directors of Acquiror (other than in connection with the Transaction Proposals); and (v) against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement, the Merger Agreement or any Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of Acquiror or the Merger Sub under the Merger Agreement, (C) result in any of the conditions set forth in Article IX of the Merger Agreement not being fulfilled or (D) change in any manner the dividend policy or capitalization of, including the voting rights of any class of capital stock of, Acquiror. Each Sponsor hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing. (b) Each Sponsor shall comply with, and fully perform all of its obligations, covenants and agreements set forth in, that certain Letter Agreement, dated as of April 27, 2020, by and among the Sponsors and Acquiror (the “Voting Letter Agreement”), including the obligations of the Sponsors pursuant to Section 1 therein to not redeem any Acquiror Common Shares owned by such Sponsor in connection with the transactions contemplated by the Merger Agreement. (c) During the period commencing on the date hereof and ending on the earlier of the consummation of the Closing and the termination of the Merger Agreement pursuant to Article X thereof, each Sponsor shall not modify or amend any Contract between or among such Sponsor, anyone related by blood, marriage or adoption to such Sponsor or any Affiliate of such Sponsor (other than Acquiror or any of its Subsidiaries), on the one hand, and Acquiror or any of Acquiror’s Subsidiaries, on the other hand, including, for the avoidance of doubt, the Voting Letter Agreement. Section 1.6 Further Assurances. Each Sponsor shall take, or cause to be taken, all actions and do, or cause to be done, all things reasonably necessary under applicable Laws to consummate the Mergers and the other transactions contemplated by the Merger Agreement on the terms and subject to the conditions set forth therein and herein. Field: Page; Sequence: 3; Value: 2 Section 1.7 No Inconsistent Agreement. Each Sponsor hereby represents and covenants that such Sponsor has not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Sponsor’s obligations hereunder."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b20"], "char_count": 3319, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ab5121c3fcdc077fff5113da4c6905ef8153b74689b4020b17bfa52bcdc4e348", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE II REPRESENTATIONS AND WARRANTIES"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 20, "char_end": 3319, "char_start": 0, "fragment_sha256": "a2184e92725c828c2004fc1103f740c8c32964d2fc8ccad3e99a106256e63e7f", "heading_path": ["EXECUTION VERSION", "ARTICLE II REPRESENTATIONS AND WARRANTIES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s8", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "Section 2.1 Representations and Warranties of the Sponsors. Each Sponsor represents and warrants as of the date hereof to Acquiror and the Company (solely with respect to itself, himself or herself and not with respect to any other Sponsor) as follows: (a) Organization; Due Authorization. If such Sponsor is not an individual, it is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance of this Sponsor Agreement and the consummation of the transactions contemplated hereby are within such Sponsor’s corporate, limited liability company or organizational powers and have been duly authorized by all necessary corporate, limited liability company or organizational actions on the part of such Sponsor. If such Sponsor is an individual, such Sponsor has full legal capacity, right and authority to execute and deliver this Sponsor Agreement and to perform his or her obligations hereunder. This Sponsor Agreement has been duly executed and delivered by such Sponsor and, assuming due authorization, execution and delivery by the other parties to this Sponsor Agreement, this Sponsor Agreement constitutes a legally valid and binding obligation of such Sponsor, enforceable against such Sponsor in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance and other equitable remedies). If this Sponsor Agreement is being executed in a representative or fiduciary capacity, the Person signing this Sponsor Agreement has full power and authority to enter into this Sponsor Agreement on behalf of the applicable Sponsor. (b) Ownership. Such Sponsor is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, all of such Sponsor’s Acquiror Common Shares and Acquiror Warrants, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Acquiror Common Shares or Acquiror Warrants (other than transfer restrictions under the Securities Act)) affecting any such Acquiror Common Shares or Acquiror Warrants, other than Liens pursuant to (i) this Sponsor Agreement, (ii) the Acquiror Governing Documents, (iii) the Merger Agreement, (iv) the Voting Letter Agreement or (v) any applicable securities Laws. Such Sponsor’s Acquiror Common Shares and Acquiror Warrants are the only equity securities in Acquiror owned of record or beneficially by such Sponsor on the date of this Sponsor Agreement, and none of such Sponsor’s Acquiror Common Shares or Acquiror Warrants are subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Acquiror Common Shares or Acquiror Warrants, except as provided hereunder and under the Voting Letter Agreement. Other than the Acquiror Warrants, such Sponsor does not hold or own any rights to acquire (directly or indirectly) any equity securities of Acquiror or any equity securities convertible into, or which can be exchanged for, equity securities of Acquiror. Field: Page; Sequence: 4; Value: 2 (c) No Conflicts."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b20"], "char_count": 2209, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "211998cc1e26704bca2065f38c4caef36e3ebbd642346fdf3cb14e169435ad7b", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE II REPRESENTATIONS AND WARRANTIES"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 20, "char_end": 5528, "char_start": 3319, "fragment_sha256": "a2184e92725c828c2004fc1103f740c8c32964d2fc8ccad3e99a106256e63e7f", "heading_path": ["EXECUTION VERSION", "ARTICLE II REPRESENTATIONS AND WARRANTIES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s8", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "The execution and delivery of this Sponsor Agreement by such Sponsor does not, and the performance by such Sponsor of his, her or its obligations hereunder will not, (i) if such Sponsor is not an individual, conflict with or result in a violation of the organizational documents of such Sponsor or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Sponsor or such Sponsor’s Acquiror Common Shares or Acquiror Warrants), in each case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such Sponsor of its, his or her obligations under this Sponsor Agreement. (d) Litigation. There are no Actions pending against such Sponsor, or to the knowledge of such Sponsor threatened against such Sponsor, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Sponsor of its, his or her obligations under this Sponsor Agreement. (e) Brokerage Fees. Except as described on Section 5.13 of the Acquiror Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated by the Merger Agreement based upon arrangements made by such Sponsor, for which Acquiror or any of its Affiliates may become liable. (f) Affiliate Arrangements. Except as set forth on Schedule II attached hereto, neither such Sponsor nor any anyone related by blood, marriage or adoption to such Sponsor or, to the knowledge of such Sponsor, any Person in which such Sponsor has a direct or indirect legal, contractual or beneficial ownership of 5% or greater is party to, or has any rights with respect to or arising from, any Contract with Acquiror or its Subsidiaries. (g) Acknowledgment. Such Sponsor understands and acknowledges that each of Acquiror and the Company is entering into the Merger Agreement in reliance upon such Sponsor’s execution and delivery of this Sponsor Agreement."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b24"], "char_count": 1651, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ec26d5629f6d9f25e80d78d49b975b0d2b030e909afff633ec1ccdb8a8d437cb", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE III MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 24, "char_end": 1651, "char_start": 0, "fragment_sha256": "af4ca637ec040ca041b1395f528ac78f7cf2ff0b6d4166a7fab6bcd6111242cb", "heading_path": ["EXECUTION VERSION", "ARTICLE III MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s9", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "Section 3.1 Termination. This Sponsor Agreement and all of its provisions shall terminate and be of no further force or effect upon the earliest of (a) the Expiration Time, (b) the liquidation of Acquiror and (c) the written agreement of the Sponsor, Acquiror, and the Company. Upon such termination of this Sponsor Agreement, all obligations of the parties under this Sponsor Agreement will terminate, without any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Sponsor Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Sponsor Agreement prior to such termination. This ARTICLE III shall survive the termination of this Agreement. Field: Page; Sequence: 5; Value: 2 Section 3.2 Governing Law. This Sponsor Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Sponsor Agreement or the negotiation, execution or performance of this Sponsor Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Sponsor Agreement) will be governed by and construed in accordance with the internal Laws of the State of Delaware applicable to agreements executed and performed entirely within such State."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b28", "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b29"], "char_count": 2222, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d15ac2831b675bbff01b072a65ce0eef4c6e5a071cedee9bff5091ca5fe44eb", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 28, "char_end": 1189, "char_start": 0, "fragment_sha256": "d1568a5029407bc626159878a3e8ce18cea5883fc2d6c8470cc0dffbf58a50b7", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "p"}, {"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 29, "char_end": 1031, "char_start": 0, "fragment_sha256": "647864f3e40ae6297855316ef829a86af48942f592ae7cbae9c164344f3d8aa1", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "(a) THE PARTIES TO THIS SPONSOR AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS LOCATED IN WILMINGTON, DELAWARE OR THE COURTS OF THE UNITED STATES LOCATED IN WILMINGTON, DELAWARE IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SPONSOR AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS SPONSOR AGREEMENT WAIVE, AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS SPONSOR AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT THERETO OR THAT SUCH ACTION MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS OR THAT THIS SPONSOR AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS OR THAT THEIR PROPERTY IS EXEMPT OR IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER. SERVICE OF PROCESS WITH RESPECT THERETO MAY BE MADE UPON ANY PARTY TO THIS SPONSOR AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS AS PROVIDED IN Section 3.8.\n\n(b) WAIVER OF TRIAL BY JURY. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SPONSOR AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SPONSOR AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SPONSOR AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SPONSOR AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 3.3."} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b30"], "char_count": 2412, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "efbf2dffd176d052452435320d78d6b6fdcdc908f4f1b1ae0b15c6bec1f39a46", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 30, "char_end": 2412, "char_start": 0, "fragment_sha256": "843713509a2750dd112dc552afd7349a64a532c3ba9b2e7ec472a460f263ce89", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "Field: Page; Sequence: 6; Value: 2 Section 3.4 Assignment. This Sponsor Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors and permitted assigns. Neither this Sponsor Agreement nor any of the rights, interests or obligations hereunder will be assigned (including by operation of law) without the prior written consent of the parties hereto. Section 3.5 Specific Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions of this Sponsor Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this Sponsor Agreement and to enforce specifically the terms and provisions of this Sponsor Agreement in the chancery court or any other state or federal court within the State of Delaware, this being in addition to any other remedy to which such party is entitled at law or in equity. Section 3.6 Amendment. This Sponsor Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon the execution and delivery of a written agreement executed by Acquiror, the Company and the Sponsor Holdco. Section 3.7 Severability. If any provision of this Sponsor Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Sponsor Agreement will remain in full force and effect. Any provision of this Sponsor Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. Section 3.8 Notices. All notices and other communications among the parties hereto shall be in writing and shall be deemed to have been duly given (a) when delivered in person, (b) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (c) when delivered by FedEx or other nationally recognized overnight delivery service or (d) when e-mailed during normal business hours (and otherwise as of the immediately following Business Day), addressed as follows: If to Acquiror: Social Capital Hedosophia Holdings Corp. II 317 University Avenue Palo Alto, California 94301"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b33"], "char_count": 87, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "97ed6ef6ad8c0ad926713c04d2617710953d86ccc2be186a1636ddb58975739b", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 33, "char_end": 57, "char_start": 0, "fragment_sha256": "acd09b84dbaa6b0cec07b6c0699bb4ec8dd8350ef873fae0f80f4d84cdc74728", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; 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Sequence: 7; Value: 2 Skadden, Arps, Slate, Meagher & Flom LLP One Manhattan West New York, New York 10001"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b37"], "char_count": 159, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "355bf2266e8c1c847c146fbfadec3f008dfd356393131d8eec14c48eec44e599", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 37, "char_end": 121, "char_start": 0, "fragment_sha256": "f262b79b6f528e39ed21ff36b61a3a64ff350b7e7446e24efbce2fcefd2fddcb", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; 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Ellin |\n| | Christopher M. Barlow |\n| Email: | howard.ellin@skadden.com |\n| | christopher.barlow@skadden.com |"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b38"], "char_count": 85, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3e3691f208e434128227bf7a9e7fbdda78f830d41ab7e3adb8a13e59ea163edd", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 38, "char_end": 85, "char_start": 0, "fragment_sha256": "fba594d7e4e9a791016bc091728ae2a21f186403f225107bf6f2e28576e13ed2", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; 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Hamill |\n| | Joshua Dubofsky |\n| | Kristen Grannis |\n| Email: | justin.hamill@lw.com |\n| | joshua.dubofsky@lw.com |\n| | kristen.grannis@lw.com |"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b42"], "char_count": 202, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "db0151e76bb758a4dce6a2904ebfd0837652ccec9afc33665ca6dec670b8dff5", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 42, "char_end": 202, "char_start": 0, "fragment_sha256": "fa106d5d8902e328b9d2dbcf94cb73ad5d8e778113324e6bd32a4a41913c9f43", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p19", "passage_kind": "narrative", "passage_sequence": 19, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "If to a Sponsor: To such Sponsor’s address set forth in Schedule I with a copy to (which will not constitute notice): Skadden, Arps, Slate, Meagher & Flom LLP One Manhattan West New York, New York 10001"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b43"], "char_count": 159, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "355bf2266e8c1c847c146fbfadec3f008dfd356393131d8eec14c48eec44e599", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 43, "char_end": 121, "char_start": 0, "fragment_sha256": "f262b79b6f528e39ed21ff36b61a3a64ff350b7e7446e24efbce2fcefd2fddcb", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": 4, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p20", "passage_kind": "table", "passage_sequence": 20, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s10", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b43", "text": "| | |\n| --- | --- |\n| Attention: | Howard L. Ellin |\n| | Christopher M. 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This Sponsor Agreement may be executed in two or more counterparts (any of which may be delivered by electronic transmission), each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument. Section 3.10 Entire Agreement. 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II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | 10,150,000 | | | | 6,133,333 | |\n| Chamath Palihapitiya c/o Social Capital Hedosophia Holding Corp. II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | — | (1) | | | — | (1) |\n| Ian Osborne c/o Social Capital Hedosophia Holding Corp. II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | — | (1) | | | — | (1) |\n| Adam Bain c/o Social Capital Hedosophia Holding Corp. II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | — | | | | — | |\n| David Spillane c/o Social Capital Hedosophia Holding Corp. II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | 100,000 | | | | — | |\n| Cipora Herman c/o Social Capital Hedosophia Holding Corp. II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | 100,000 | | | | — | |\n| Steven Trieu c/o Social Capital Hedosophia Holding Corp. II 317 University Ave, Suite 200, Palo Alto, CA 94301 | | | — | | | | — | |"} +{"artifact_role": "ex10-02", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#b61"], "char_count": 281, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6ae106690888c611811e35e5e3cf23d5f98bbd2c7647418fa1e6e9050336925f", "derivation_id": "c8831fd92cf3c64a98f1b7512a7bbcc0ab06846452fa04cf73b1ba239c2192d2", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.2", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "[THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]", "Sponsor Acquiror Common Shares and Acquiror Warrants"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "block_sequence": 61, "char_end": 281, "char_start": 0, "fragment_sha256": "e2fa15aaf08b11620a160fd527421196a9798efc19dfd07c5eb17b38f0e8bcf8", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "[THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]", "Sponsor Acquiror Common Shares and Acquiror Warrants"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm#s16", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-2.htm", "table_id": null, "text": "(1) Messrs. 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Letter Agreement, dated April 20, 2020, among Acquiror and Connaught (UK) Limited 2. Letter Agreement, dated April 27, 2020, among the Acquiror, SCH Sponsor II LLC and each of the other parties thereto 3. Registration Rights Agreement, dated April 27, 2020, between the Acquiror, SCH Sponsor II LLC and certain other security holders named therein 4. Administrative Services Agreement, dated April 27, 2020, between the Acquiror and Social Capital Holdings, Inc., which shall terminate at Closing without further liability, cost, payment or other obligation of the Acquiror 5. Indemnity Agreement, dated April 27, 2020, between the Company and Ian Osborne 6. Indemnity Agreement, dated April 27, 2020, between the Company and Adam Bain 7. Indemnity Agreement, dated April 27, 2020, between the Company and David Spillane 8. Indemnity Agreement, dated April 27, 2020, between the Company and Cipora Herman 9. Indemnity Agreement, dated April 27, 2020, between the Company and Steven Trieu 10. 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"norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b7", + "block_sequence": 7, + "block_sha256": "e5971e457e25ac381d30fd41ff5e872ce3b93b6f6a04a20d95b0ceea8cbe6d95", + "block_type": "paragraph", + "char_count": 674, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 7, + "char_end": 674, + "char_start": 0, + "fragment_sha256": "df52a53252ddae5de925b57ff21cb2ca35388f6badaed3153a427edcb20dab46", + "heading_path": [ + "EXECUTION VERSION", + "STOCKHOLDER SUPPORT AGREEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s4", + "table": null, + "text": "This Stockholder Support Agreement (this \u201cAgreement\u201d) is dated as of September 15, 2020, by and among Social Capital Hedosophia Holdings Corp. II, a Cayman Islands exempted company limited by shares (which shall domesticate as a Delaware corporation prior to the Closing (as defined in the Merger Agreement (as defined below)) (\u201cAcquiror\u201d), the Persons set forth on Schedule I hereto (each, a \u201cCompany Stockholder\u201d and, collectively, the \u201cCompany Stockholders\u201d), and Opendoor Labs Inc., a Delaware corporation (the \u201cCompany\u201d). Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below)." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b8", + "block_sequence": 8, + "block_sha256": "eb1352613f6b1f92be8379b615ec782f784d20f5cbe9c138c65ad6732471d6e3", + "block_type": "heading", + "char_count": 8, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 8, + "char_end": 8, + "char_start": 0, + "fragment_sha256": "8fbb8a51275eedd52c54dad74cc59d6cc9177049602258680a088ee9e64d4712", + "heading_path": [ + "EXECUTION VERSION", + "RECITALS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s5", + "table": null, + "text": "RECITALS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b9", + "block_sequence": 9, + "block_sha256": "663add3e2e0f26ff3f8b73109414157ae46224d79f4bcc85318fac8ce8051521", + "block_type": "paragraph", + "char_count": 3340, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 9, + "char_end": 3340, + "char_start": 0, + "fragment_sha256": "856d79641a6eb1e919eb0388500ffc4e741abadcd6437dffeb2348c6eeaf111f", + "heading_path": [ + "EXECUTION VERSION", + "RECITALS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s5", + "table": null, + "text": "WHEREAS, as of the date hereof, the Company Stockholders are the holders of record and \u201cbeneficial owners\u201d (within the meaning of Rule 13d-3 of the Exchange Act) of such number of shares of Company Capital Stock as are indicated opposite each of their names on Schedule I attached hereto (all such shares of Company Capital Stock, together with any shares of Company Capital Stock of which ownership of record or the power to vote (including, without limitation, by proxy or power of attorney) is hereafter acquired by any such Company Stockholder during the period from the date hereof through the Expiration Time are referred to herein as the \u201cSubject Shares\u201d); WHEREAS, on September 15, 2020, Acquiror, Hestia Merger Sub Inc., a Delaware corporation (\u201cMerger Sub\u201d), and the Company entered into an Agreement and Plan of Merger (as amended or modified from time to time, the \u201cMerger Agreement\u201d) pursuant to which, among other transactions, Merger Sub will be merged with and into the Company (the \u201cMerger\u201d), with the Company continuing on as the surviving entity; and each share of Company Preferred Stock that is issued and outstanding as of immediately prior to the Effective Time will be automatically converted into Company Common Stock, and each share of Company Common Stock that is issued in respect thereof or otherwise issued and outstanding as of immediately prior to the Effective Time will, in each case, be cancelled and automatically converted into the right to receive a certain number of shares of Acquiror Common Stock (such transaction, the \u201cPreferred Conversion\u201d and together with the Merger and the other transactions contemplated by the Merger Agreement, including the Pre-Closing Restructuring (as defined in the Merger Agreement), the \u201cTransactions\u201d); WHEREAS, prior to the date hereof, the Board of Directors of the Company and the Company Stockholders authorized and approved the filing of that certain Tenth Amended and Restated Certificate of Incorporation of the Company (the \u201cCharter\u201d) with the Secretary of State of the State of Delaware, and the Charter was so filed substantially concurrently with the Company\u2019s execution of the Merger Agreement; WHEREAS, pursuant to their terms, upon consummation of the Merger, each of the following agreements will automatically terminate without any further action on the part of the parties thereto pursuant to their respective terms: (i) that certain Sixth Amended and Restated Investors\u2019 Rights Agreement, dated as of February 8, 2019, by and among the Company and the Investors (as defined therein) (the \u201cInvestors\u2019 Rights Agreement\u201d), (ii) that certain Sixth Amended and Restated Voting Agreement, dated as of February 8, 2019, by and among the Company and the Stockholders (as defined therein) (the \u201cVoting Agreement\u201d) and (iii) that certain Sixth Amended and Restated Right of First Refusal and Co-Sale Agreement, dated as of February 8, 2019, by and among the Company and the Investors (as defined therein) (the \u201cROFR Agreement\u201d and, together with the Investors\u2019 Rights Agreement and the Voting Agreement, the \u201cInvestment Agreements\u201d); and WHEREAS, as an inducement to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the parties hereto desire to agree to certain matters as set forth herein." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b10", + "block_sequence": 10, + "block_sha256": "229f3ab4652b65cb5f20201477814ff946ae75a788ce2b99b4610207780b7521", + "block_type": "page_number", + "char_count": 24, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 10, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "f5294afef4f10a8374c98b649ee4db5b3b046031c8d27026bef653d738027d91", + "heading_path": [ + "EXECUTION VERSION", + "RECITALS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s5", + "table": null, + "text": "Field: Page; Sequence: 1" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b11", + "block_sequence": 11, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 11, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "EXECUTION VERSION", + "RECITALS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s5", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b12", + "block_sequence": 12, + "block_sha256": "03c89c21a05030ba4a5e4835731d3cfffa869a709b6583769e9a8bb826c7d245", + "block_type": "heading", + "char_count": 9, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 12, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "6156bcff5f8c656be1deda53439c8e6e771e13d4a09f72535ef6e68b7254ba6b", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s6", + "table": null, + "text": "AGREEMENT" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b13", + "block_sequence": 13, + "block_sha256": "84bb6e377bd602b107da94a289eecc3d152938759c4d12c5d67932a623661e6d", + "block_type": "paragraph", + "char_count": 179, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 13, + "char_end": 179, + "char_start": 0, + "fragment_sha256": "400a38f706a1d126f13c20ee06c8e119b1233f4b7b276264e92ee63ad1088328", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s6", + "table": null, + "text": "NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b14", + "block_sequence": 14, + "block_sha256": "667f98cfc58ae3b3a460c22b61dd0cc580ecd29965f9aa39f13234b072d32c68", + "block_type": "heading", + "char_count": 50, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 14, + "char_end": 50, + "char_start": 0, + "fragment_sha256": "c107953953df1264101a18771149159c142c8a5312b8f083fac524186fe294f0", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT", + "ARTICLE I stockholder SUPPORT AGREEMENT; COVENANTS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s7", + "table": null, + "text": "ARTICLE I stockholder SUPPORT AGREEMENT; COVENANTS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b15", + "block_sequence": 15, + "block_sha256": "97ee48f335a018d0495a625a127cc816a46bfe1d52e8a9da7e069825935e40d4", + "block_type": "paragraph", + "char_count": 1959, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 15, + "char_end": 1959, + "char_start": 0, + "fragment_sha256": "7cb24437e5b510d24e9b3da4869d0148f9b6dacf0edf6d6fe6ba598fadfba878", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT", + "ARTICLE I stockholder SUPPORT AGREEMENT; COVENANTS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s7", + "table": null, + "text": "Section 1.1 Binding Effect of Merger Agreement. Each Company Stockholder hereby acknowledges that it has read the Merger Agreement and this Agreement and has had the opportunity to consult with its tax and legal advisors. Each Company Stockholder shall be bound by and comply with Sections 6.6 (Acquisition Proposals) and 12.12 (Publicity) of the Merger Agreement (and any relevant definitions contained in any such Sections) as if (a) such Company Stockholder was an original signatory to the Merger Agreement with respect to such provisions, and (b) each reference to the \u201cCompany\u201d contained in Section 6.6 of the Merger Agreement (other than Section 6.6(i) or Section 6.6(iii) or for purposes of the definition of Acquisition Proposal) also referred to each such Company Stockholder. Section 1.2 No Transfer. During the period commencing on the date hereof and ending on the earlier to occur of (a) the Effective Time, and (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof (the \u201cExpiration Time\u201d), each Company Stockholder shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with the SEC (other than the Proxy Statement/Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any Subject Shares, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Subject Shares (clauses (i) and (i) collectively, a \u201cTransfer\u201d) or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Field: Page; Sequence: 2; Options: NewSection; Value: 2" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b16", + "block_sequence": 16, + "block_sha256": "ddc2bcccbb51f53f26ed7542840fed3c71ddfea08835dfcfb3c862a2e09afee5", + "block_type": "heading", + "char_count": 62, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 16, + "char_end": 62, + "char_start": 0, + "fragment_sha256": "50048837173047ee224bd00ae5e40e53d0f9c2aace89f885789228bf4f86daa9", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT", + "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s8", + "table": null, + "text": "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b17", + "block_sequence": 17, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 17, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT", + "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s8", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b18", + "block_sequence": 18, + "block_sha256": "b5a23d860a402d520208997181985947c234fcf4aee04a5929e7c107896cf797", + "block_type": "paragraph", + "char_count": 3482, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 18, + "char_end": 3482, + "char_start": 0, + "fragment_sha256": "8b6bc6db6ed428a4d90da1c93ef29bd7316707a1c5341fe6dc6f975c1f287f98", + "heading_path": [ + "EXECUTION VERSION", + "AGREEMENT", + "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s8", + "table": null, + "text": "Section 1.3 New Shares. In the event that, during the period commencing on the date hereof and ending at the Expiration Time, (a) any Subject Shares are issued to a Company Stockholder after the date of this Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Subject Shares or otherwise, (b) a Company Stockholder purchases or otherwise acquires beneficial ownership of any Subject Shares or (c) a Company Stockholder acquires the right to vote or share in the voting of any Subject Shares (collectively the \u201cNew Securities\u201d), then such New Securities acquired or purchased by such Company Stockholder shall be subject to the terms of this Agreement to the same extent as if they constituted the Subject Shares owned by such Company Stockholder as of the date hereof. Section 1.4 Stockholder Agreements. Hereafter until the Expiration Time, each Company Stockholder hereby unconditionally and irrevocably agrees that, at any meeting of the Stockholders of the Company (or any adjournment or postponement thereof), and in any action by written consent of the Stockholders of the Company requested by the Board of Directors of the Company or otherwise undertaken as contemplated by the Transactions, including in the form attached as Exhibit A (which written consent shall be delivered promptly, and in any event within forty-eight (48) hours, after (x) the Proxy Statement/Registration Statement (as contemplated by the Merger Agreement) has been declared effective and has been delivered or otherwise made available to the stockholders of Acquiror and the Company, and (y) the Company requests such delivery), such Company Stockholder shall, if a meeting is held, appear at the meeting, in person or by proxy, or otherwise cause its Subject Shares to be counted as present thereat for purposes of establishing a quorum, and such Company Stockholder shall vote or provide consent (or cause to be voted or consented), in person or by proxy, all of its Subject Shares: (a) to approve and adopt the Merger Agreement and the Transactions; (b) to authorize and approve the Merger as a SCH Transaction pursuant to Article IV(B)(6)(e) of the Charter; (c) to exercise the drag-along rights set forth in Section 2.9 of the Voting Agreement; (d) in any other circumstances upon which a consent or other approval is required under the Charter or the Investment Agreements or otherwise sought with respect to the Merger Agreement or the Transactions, to vote, consent or approve (or cause to be voted, consented or approved) all of such Company Stockholder\u2019s Subject Shares held at such time in favor thereof; (e) against and withhold consent with respect to any merger, purchase of all or substantially all of the Company\u2019s assets or other business combination transaction (other than the Merger Agreement and the Transactions); and (f) against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement, the Merger Agreement or the Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of the Company under the Merger Agreement or (C) result in any of the conditions set forth in Article IX of the Merger Agreement not being fulfilled. Each Company Stockholder hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing. 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Each Company Stockholder agrees not to commence, join in, facilitate, assist or encourage, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Acquiror, Merger Sub, the Company or any of their respective successors or directors (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any person in connection with the evaluation, negotiation or entry into the Merger Agreement. Section 1.6 Affiliate Agreements. Each Company Stockholder hereby agrees and consents to the termination of all Affiliate Arrangements set forth on Section 6.4 of the Company Disclosure Letter to which such Company Stockholder is party, effective as of the Effective Time without any further liability or obligation to the Company, the Company\u2019s Subsidiaries or Acquiror. Section 1.7 Registration Rights Agreement. Each of the Company Stockholders set forth on Schedule II will deliver, substantially simultaneously with the Effective Time, a duly-executed copy of the Amended and Restated Registration Rights Agreement substantially in the form attached as Exhibit C to the Merger Agreement. Section 1.8 Further Assurances. Each Company Stockholder shall execute and deliver, or cause to be delivered, such additional documents, and take, or cause to be taken, all such further actions and do, or cause to be done, all things reasonably necessary (including under applicable Laws), or reasonably requested by Acquiror or the Company, to effect the actions and consummate the Mergers and the other transactions contemplated by this Agreement and the Merger Agreement (including the Transactions), in each case, on the terms and subject to the conditions set forth therein and herein, as applicable. Section 1.9 No Inconsistent Agreement. Each Company Stockholder hereby represents and covenants that such Company Stockholder has not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Company Stockholder\u2019s obligations hereunder. Section 1.10 Consent to Disclosure. Each Company Stockholder hereby consents to the publication and disclosure in the Proxy Statement/Registration Statement (and, as and to the extent otherwise required by applicable securities Laws or the SEC or any other securities authorities, any other documents or communications provided by Acquiror or the Company to any Governmental Authority or to securityholders of Acquiror) of such Company Stockholder\u2019s identity and beneficial ownership of Subject Shares and the nature of such Company Stockholder\u2019s commitments, arrangements and understandings under and relating to this Agreement and, if deemed appropriate by Acquiror or the Company, a copy of this Agreement. Each Company Stockholder will promptly provide any information reasonably requested by Acquiror or the Company for any regulatory application or filing made or approval sought in connection with the Transactions (including filings with the SEC). 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Each Company Stockholder represents and warrants as of the date hereof to Acquiror and the Company (solely with respect to itself, himself or herself and not with respect to any other Company Stockholder) as follows: (a) Organization; Due Authorization. If such Company Stockholder is not an individual, it is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby are within such Company Stockholder\u2019s corporate, limited liability company or organizational powers and have been duly authorized by all necessary corporate, limited liability company or organizational actions on the part of such Company Stockholder. If such Company Stockholder is an individual, such Company Stockholder has full legal capacity, right and authority to execute and deliver this Agreement and to perform his or her obligations hereunder. This Agreement has been duly executed and delivered by such Company Stockholder and, assuming due authorization, execution and delivery by the other parties to this Agreement, this Agreement constitutes a legally valid and binding obligation of such Company Stockholder, enforceable against such Company Stockholder in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors\u2019 rights and general principles of equity affecting the availability of specific performance and other equitable remedies). If this Agreement is being executed in a representative or fiduciary capacity, the Person signing this Agreement has full power and authority to enter into this Agreement on behalf of the applicable Company Stockholder. (b) Ownership. Such Company Stockholder is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, all of such Company Stockholder\u2019s Subject Shares, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Subject (other than transfer restrictions under the Securities Act)) affecting any such Subject Shares, other than Liens pursuant to (i) this Agreement, (ii) the Charter, (iii) the Merger Agreement, (iv) the Voting Agreement or (v) any applicable securities Laws. Such Company Stockholder\u2019s Subject Shares are the only equity securities in the Company owned of record or beneficially by such Company Stockholder on the date of this Agreement, and none of such Company Stockholder\u2019s Subject Shares are subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Subject Shares, except as provided hereunder and under the Voting Agreement. Other than the Company Warrants set forth opposite such Company Stockholder\u2019s name on Schedule I, such Company Stockholder does not hold or own any rights to acquire (directly or indirectly) any equity securities of the Company or any equity securities convertible into, or which can be exchanged for, equity securities of the Company. 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The execution and delivery of this Agreement by such Company Stockholder does not, and the performance by such Company Stockholder of his, her or its obligations hereunder will not, (i) if such Company Stockholder is not an individual, conflict with or result in a violation of the organizational documents of such Company Stockholder or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Company Stockholder or such Company Stockholder\u2019s Subject Shares) to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such Company Stockholder of its, his or her obligations under this Agreement. (d) Litigation. There are no Actions pending against such Company Stockholder, or to the knowledge of such Company Stockholder threatened against such Company Stockholder, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Company Stockholder of its, his or her obligations under this Agreement. (e) Adequate Information. Such Company Stockholder is a sophisticated stockholder and has adequate information concerning the business and financial condition of Acquiror and the Company to make an informed decision regarding this Agreement and the Transactions and has independently and without reliance upon Acquiror or the Company and based on such information as such Company Stockholder has deemed appropriate, made its own analysis and decision to enter into this Agreement. Such Company Stockholder acknowledges that Acquiror and the Company have not made and do not make any representation or warranty, whether express or implied, of any kind or character except as expressly set forth in this Agreement. Such Company Stockholder acknowledges that the agreements contained herein with respect to the Subject Shares held by such Company Stockholder are irrevocable. (f) Brokerage Fees. Except as described on Section 4.16 of the Company Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders\u2019 fee or other commission in connection with the transactions contemplated by the Merger Agreement based upon arrangements made by such Company Stockholder, for which the Company or any of its Affiliates may become liable. (g) Acknowledgment. Such Company Stockholder understands and acknowledges that each of Acquiror and the Company is entering into the Merger Agreement in reliance upon such Company Stockholder\u2019s execution and delivery of this Agreement." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b29", + "block_sequence": 29, + "block_sha256": "6da63d94e4694eb166908a7bd1ac2e6ed886d80a40593c2b55ded11fbb74e1ea", + "block_type": "heading", + "char_count": 25, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 29, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "e8a092952dda3655927ca872cf567aad9dd2f638e5fcc9fefe92755b43bd9416", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE III MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s13", + "table": null, + "text": "ARTICLE III MISCELLANEOUS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b30", + "block_sequence": 30, + "block_sha256": "80750675717910973c6c338eeec15094882720e2aee76e3f6c6cdc2d68f7bc68", + "block_type": "paragraph", + "char_count": 1022, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", + "block_sequence": 30, + "char_end": 1022, + "char_start": 0, + "fragment_sha256": "59d699ec77c11c9a58e1d5475da4f9f2eb5a04b4bcc182527bf0fa988d011b46", + "heading_path": [ + "EXECUTION VERSION", + "ARTICLE III MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s13", + "table": null, + "text": "Section 3.1 Termination. This Agreement and all of its provisions shall terminate and be of no further force or effect upon the earlier of (a) the Expiration Time and (b) as to each Company Stockholder, the written agreement of Acquiror, the Company and such Company Stockholder. Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate, without any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Agreement prior to such termination. This ARTICLE IV shall survive the termination of this Agreement. 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COMPANY STOCKHOLDERS: KHOSLA VENTURES IV, LP By: Khosla Ventures Associates IV, LLC, a Delaware limited liability company and general partner of Khosla Ventures IV, LP By: /s/ John Demeter Name: John Demeter Title: General Counsel KHOSLA VENTURES IV (CF), LP By: Khosla Ventures IV, LLC, a Delaware limited liability company and general partner of Khosla Ventures IV (CF), LP By: /s/ John Demeter Name: John Demeter Title: General Counsel KHOSLA VENTURES SEED B, LP By: Khosla Ventures Seed Associates B, LLC, a Delaware limited liability company and general partner of Khosla Ventures Seed B, LP By: /s/ John Demeter Name: John Demeter Title: General Counsel KHOSLA VENTURES SEED B (CF), LP By: Khosla Ventures Seed Associates B, LLC, a Delaware limited liability company and general partner of Khosla Ventures Seed B (CF), LP By: /s/ John Demeter Name: John Demeter Title: General Counsel IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: GGV CAPITAL V L.P. By: GGV Capital V L.L.C., its General Partner By: /s/ Glenn Solomon Name: Glenn Solomon Title: Managing Director GGV CAPITAL V ENTREPRENEURS FUND L.P. By: GGV Capital V L.L.C., its General Partner By: /s/ Glenn Solomon Name: Glenn Solomon Title: Managing Director GGV CAPITAL SELECT L.P. By: GGV Capital Select L.L.C., its General Partner By: /s/ Glenn Solomon Name: Glenn Solomon Title: Managing Director IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: NORWEST VENTURE PARTNERS XIII, LP By: Genesis VC Partners XIII, LLC, its General Partner By: NVP Associates, LLC, its Managing Member By: /s/ Jeff Crowe Name: Jeff Crowe Title: Managing Member NORWEST VENTURE PARTNERS XIV, LP By: Genesis VC Partners XIV, LLC, its General Partner By: NVP Associates, LLC, its Managing Member By: /s/ Jeff Crowe Name: Jeff Crowe Title: Managing Member IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: FIFTH WALL VENTURES, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV I, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV II, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV VIII, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV XIV, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV XV, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: GENERAL ATLANTIC (ODL), L.P. By: General Atlantic (SPV) GP, LLC, its General Partner By: /s/ J. Frank Brown Name: J. Frank Brown Title: Managing Director IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: ANDREESSEN HOROWITZ FUND V, L.P. for itself and as nominee for Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P., and Andreessen Horowitz Fund V-Q, L.P. By: AH Equity Partners V, L.L.C., its general partner By: /s/ Scott Kupor Name: Scott Kupor Title: Managing Partner IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: AI LIQUIDRE LLC By: Access Industries Management LLC, its manager By: /s/ Alejandro Moreno Name: Alejandro Moreno Title: Executive Vice President By: /s/ Suzette Del Giudice Name: Suzette Del Giudice Title: Executive Vice President IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: LV OPENDOOR JV, LLC By: LV Opendoor Investor LLC, its Managing Member By: LEN X, LLC, its Sole Member By: /s/ Eric Feder Name: Eric Feder Title: Authorized Person IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: ERIC WU By: /s/ Eric Wu Name: Eric Wu ACQUIROR: SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP. II By: /s/ Chamath Palihapitiya Name: Chamath Palihapitiya Title: Chief Executive Officer COMPANY: OPENDOOR LABS INC. 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| | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Holder | | Shares of Common Stock | | | Shares of Series A Preferred Stock | | | Shares of Series B Preferred Stock | | | Shares of Series C Preferred Stock | | | Shares of Series C-1 Preferred Stock | | | Shares of Series D Preferred Stock | | | Shares of Series D-1 Preferred Stock | | | Shares of Series E Preferred Stock | | | Shares of Series E-1 Preferred Stock | | | Shares of Series E-2 Preferred Stock | | | Warrants | | | Notice Information | | | | | | | | | | | | | |\n| SVF Excalibur (Cayman) Limtied | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 41,762,372 | | | | | | | | 3,751,275 | | | | | | | | | |\n| AI LiquidRE LLC | | | | | | | | | | | | | | | 8,917,424 | | | | | | | | 1,520,024 | | | | 2,588,340 | | | | 5,220,296 | | | | | | | | 1,623,213 | | | | | | | | | |\n| Khosla Ventures IV, LP | | | 4,751,194 | | | | 14,253,656 | | | | 3,404,746 | | | | 3,512,312 | | | | 526,944 | | | | 285,738 | | | | | | | | 9,813 | | | | | | | | 35,258 | | | | | | | | | |\n| Khosla Ventures IV (CF) LP | | | 303,752 | | | | 911,262 | | | | 217,672 | | | | 224,548 | | | | 33,688 | | | | 18,268 | | | | | | | | 627 | | | | | | | | 2,254 | | | | | | | | | |\n| Khosla Ventures Seed B, LP | | | 20,086 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Khosla Ventures Seed B (CF), LP | | | 1,140 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| GGV Capital V L.P. | | | | | | | | | | | 9,431,358 | | | | 1,075,218 | | | | 811,114 | | | | | | | | 663,968 | | | | | | | | | | | | | | | | | | | | | |\n| GGV Capital V Entrepreneurs Fund L.P. | | | | | | | | | | | 346,132 | | | | 39,460 | | | | 29,766 | | | | | | | | 24,366 | | | | | | | | | | | | | | | | | | | | | |\n| GGV Capital Select L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,520,024 | | | | 1,892,924 | | | | 1,044,059 | | | | | | | | 75,025 | | | | | | | | | |\n| Norwest Venture Partners XIII, LP | | | | | | | | | | | | | | | | | | | | | | | 7,600,112 | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Norwest Venture Partners XIV, LP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,610,148 | | | | | | | | 150,051 | | | | | | | | | |\n| LV Opendoor JV, LLC | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,220,296 | | | | | | | | 300,102 | | | | | | | | | |\n| Fifth Wall Ventures, L.P. | | | | | | | | | | | | | | | | | | | | | | | 724,289 | | | | 853,618 | | | | | | | | | | | | 562,691 | | | | | | | | | |\n| Fifth Wall Ventures SPV I, L.P. | | | | | | | | | | | | | | | | | | | | | | | 2,713,219 | | | | 3,414,474 | | | | | | | | | | | | | | | | 300,000 | | | | | |\n| Fifth Wall Ventures SPV II, L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,593,741 | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Fifth Wall Ventures SPV VIII, L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,808,813 | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Fifth Wall Ventures SPV XIV, L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 187,563 | | | | | | | | | |\n| Fifth Wall Ventures SPV XV, L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 157,291 | | | | | | | | | |\n| General Atlantic (ODL), L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,830,444 | | | | | | | | 3,751,275 | | | | | | | | | |\n| Andreessen Horowitz Fund V, L.P., as nominee | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,566,088 | | | | | | | | 3,751,275 | | | | | | | | | |\n| Eric Wu | | | 20,400,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Total: | | | 25,476,172 | | | | 15,164,918 | | | | 13,399,908 | | | | 13,768,962 | | | | 1,401,512 | | | | 17,784,228 | | | | 9,437,690 | | | | 65,264,143 | | | | 0 | | | | 14,347,273 | | | | 300,000 | | | | | |", + "n_cols": 49, + "n_rows": 23, + "plain_text": "Holder | | Shares of Common Stock | | | Shares of Series A Preferred Stock | | | Shares of Series B Preferred Stock | | | Shares of Series C Preferred Stock | | | Shares of Series C-1 Preferred Stock | | | Shares of Series D Preferred Stock | | | Shares of Series D-1 Preferred Stock | | | Shares of Series E Preferred Stock | | | Shares of Series E-1 Preferred Stock | | | Shares of Series E-2 Preferred Stock | | | Warrants | | | Notice Information | | | | | | | | | | | | | \nSVF Excalibur (Cayman) Limtied | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 41,762,372 | | | | | | | | 3,751,275 | | | | | | | | | \nAI LiquidRE LLC | | | | | | | | | | | | | | | 8,917,424 | | | | | | | | 1,520,024 | | | | 2,588,340 | | | | 5,220,296 | | | | | | | | 1,623,213 | | | | | | | | | \nKhosla Ventures IV, LP | | | 4,751,194 | | | | 14,253,656 | | | | 3,404,746 | | | | 3,512,312 | | | | 526,944 | | | | 285,738 | | | | | | | | 9,813 | | | | | | | | 35,258 | | | | | | | | | \nKhosla Ventures IV (CF) LP | | | 303,752 | | | | 911,262 | | | | 217,672 | | | | 224,548 | | | | 33,688 | | | | 18,268 | | | | | | | | 627 | | | | | | | | 2,254 | | | | | | | | | \nKhosla Ventures Seed B, LP | | | 20,086 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nKhosla Ventures Seed B (CF), LP | | | 1,140 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nGGV Capital V L.P. | | | | | | | | | | | 9,431,358 | | | | 1,075,218 | | | | 811,114 | | | | | | | | 663,968 | | | | | | | | | | | | | | | | | | | | | \nGGV Capital V Entrepreneurs Fund L.P. | | | | | | | | | | | 346,132 | | | | 39,460 | | | | 29,766 | | | | | | | | 24,366 | | | | | | | | | | | | | | | | | | | | | \nGGV Capital Select L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,520,024 | | | | 1,892,924 | | | | 1,044,059 | | | | | | | | 75,025 | | | | | | | | | \nNorwest Venture Partners XIII, LP | | | | | | | | | | | | | | | | | | | | | | | 7,600,112 | | | | | | | | | | | | | | | | | | | | | | | | | \nNorwest Venture Partners XIV, LP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,610,148 | | | | | | | | 150,051 | | | | | | | | | \nLV Opendoor JV, LLC | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,220,296 | | | | | | | | 300,102 | | | | | | | | | \nFifth Wall Ventures, L.P. | | | | | | | | | | | | | | | | | | | | | | | 724,289 | | | | 853,618 | | | | | | | | | | | | 562,691 | | | | | | | | | \nFifth Wall Ventures SPV I, L.P. | | | | | | | | | | | | | | | | | | | | | | | 2,713,219 | | | | 3,414,474 | | | | | | | | | | | | | | | | 300,000 | | | | | \nFifth Wall Ventures SPV II, L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,593,741 | | | | | | | | | | | | | | | | | | | | | | | | | \nFifth Wall Ventures SPV VIII, L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,808,813 | | | | | | | | | | | | | | | | | | | | | | | | | \nFifth Wall Ventures SPV XIV, L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 187,563 | | | | | | | | | \nFifth Wall Ventures SPV XV, L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 157,291 | | | | | | | | | \nGeneral Atlantic (ODL), L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,830,444 | | | | | | | | 3,751,275 | | | | | | | | | \nAndreessen Horowitz Fund V, L.P., as nominee | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,566,088 | | | | | | | | 3,751,275 | | | | | | | | | \nEric Wu | | | 20,400,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nTotal: | | | 25,476,172 | | | | 15,164,918 | | | | 13,399,908 | | | | 13,768,962 | | | 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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nGGV Capital V L.P. | | | | | | | | | | | 9,431,358 | | | | 1,075,218 | | | | 811,114 | | | | | | | | 663,968 | | | | | | | | | | | | | | | | | | | | | \nGGV Capital V Entrepreneurs Fund L.P. | | | | | | | | | | | 346,132 | | | | 39,460 | | | | 29,766 | | | | | | | | 24,366 | | | | | | | | | | | | | | | | | | | | | \nGGV Capital Select L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,520,024 | | | | 1,892,924 | | | | 1,044,059 | | | | | | | | 75,025 | | | | | | | | | \nNorwest Venture Partners XIII, LP | | | | | | | | | | | | | | | | | | | | | | | 7,600,112 | | | | | | | | | | | | | | | | | | | | | | | | | \nNorwest Venture Partners XIV, LP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,610,148 | | | | | | | | 150,051 | | | | | | | | | \nLV Opendoor JV, LLC | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,220,296 | | | | | | | | 300,102 | | | | | | | | | \nFifth Wall Ventures, L.P. | | | 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II, a Cayman Islands exempted company limited by shares (which shall domesticate as a Delaware corporation prior to the Closing (as defined in the Merger Agreement (as defined below)) (“Acquiror”), the Persons set forth on Schedule I hereto (each, a “Company Stockholder” and, collectively, the “Company Stockholders”), and Opendoor Labs Inc., a Delaware corporation (the “Company”). 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WHEREAS, on September 15, 2020, Acquiror, Hestia Merger Sub Inc., a Delaware corporation (“Merger Sub”), and the Company entered into an Agreement and Plan of Merger (as amended or modified from time to time, the “Merger Agreement”) pursuant to which, among other transactions, Merger Sub will be merged with and into the Company (the “Merger”), with the Company continuing on as the surviving entity; and each share of Company Preferred Stock that is issued and outstanding as of immediately prior to the Effective Time will be automatically converted into Company Common Stock, and each share of Company Common Stock that is issued in respect thereof or otherwise issued and outstanding as of immediately prior to the Effective Time will, in each case, be cancelled and automatically converted into the right to receive a certain number of shares of Acquiror Common Stock (such transaction, the “Preferred Conversion” and together with the Merger and the other transactions contemplated by the Merger Agreement, including the Pre-Closing Restructuring (as defined in the Merger Agreement), the “Transactions”); WHEREAS, prior to the date hereof, the Board of Directors of the Company and the Company Stockholders authorized and approved the filing of that certain Tenth Amended and Restated Certificate of Incorporation of the Company (the “Charter”) with the Secretary of State of the State of Delaware, and the Charter was so filed substantially concurrently with the Company’s execution of the Merger Agreement; WHEREAS, pursuant to their terms, upon consummation of the Merger, each of the following agreements will automatically terminate without any further action on the part of the parties thereto pursuant to their respective terms: (i) that certain Sixth Amended and Restated Investors’ Rights Agreement, dated as of February 8, 2019, by and among the Company and the Investors (as defined therein) (the “Investors’ Rights Agreement”), (ii) that certain Sixth Amended and Restated Voting Agreement, dated as of February 8, 2019, by and among the Company and the Stockholders (as defined therein) (the “Voting Agreement”) and (iii) that certain Sixth Amended and Restated Right of First Refusal and Co-Sale Agreement, dated as of February 8, 2019, by and among the Company and the Investors (as defined therein) (the “ROFR Agreement” and, together with the Investors’ Rights Agreement and the Voting Agreement, the “Investment Agreements”); and WHEREAS, as an inducement to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the parties hereto desire to agree to certain matters as set forth herein."} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b13"], "char_count": 179, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "84bb6e377bd602b107da94a289eecc3d152938759c4d12c5d67932a623661e6d", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "AGREEMENT"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 13, "char_end": 179, "char_start": 0, "fragment_sha256": "400a38f706a1d126f13c20ee06c8e119b1233f4b7b276264e92ee63ad1088328", "heading_path": ["EXECUTION VERSION", "AGREEMENT"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s6", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b15"], "char_count": 1959, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "97ee48f335a018d0495a625a127cc816a46bfe1d52e8a9da7e069825935e40d4", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "AGREEMENT", "ARTICLE I stockholder SUPPORT AGREEMENT; COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 15, "char_end": 1959, "char_start": 0, "fragment_sha256": "7cb24437e5b510d24e9b3da4869d0148f9b6dacf0edf6d6fe6ba598fadfba878", "heading_path": ["EXECUTION VERSION", "AGREEMENT", "ARTICLE I stockholder SUPPORT AGREEMENT; COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s7", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Section 1.1 Binding Effect of Merger Agreement. Each Company Stockholder hereby acknowledges that it has read the Merger Agreement and this Agreement and has had the opportunity to consult with its tax and legal advisors. Each Company Stockholder shall be bound by and comply with Sections 6.6 (Acquisition Proposals) and 12.12 (Publicity) of the Merger Agreement (and any relevant definitions contained in any such Sections) as if (a) such Company Stockholder was an original signatory to the Merger Agreement with respect to such provisions, and (b) each reference to the “Company” contained in Section 6.6 of the Merger Agreement (other than Section 6.6(i) or Section 6.6(iii) or for purposes of the definition of Acquisition Proposal) also referred to each such Company Stockholder. Section 1.2 No Transfer. During the period commencing on the date hereof and ending on the earlier to occur of (a) the Effective Time, and (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof (the “Expiration Time”), each Company Stockholder shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, file (or participate in the filing of) a registration statement with the SEC (other than the Proxy Statement/Registration Statement) or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, with respect to any Subject Shares, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Subject Shares (clauses (i) and (i) collectively, a “Transfer”) or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Field: Page; Sequence: 2; Options: NewSection; Value: 2"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b18"], "char_count": 3482, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b5a23d860a402d520208997181985947c234fcf4aee04a5929e7c107896cf797", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "AGREEMENT", "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 18, "char_end": 3482, "char_start": 0, "fragment_sha256": "8b6bc6db6ed428a4d90da1c93ef29bd7316707a1c5341fe6dc6f975c1f287f98", "heading_path": ["EXECUTION VERSION", "AGREEMENT", "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s8", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Section 1.3 New Shares. In the event that, during the period commencing on the date hereof and ending at the Expiration Time, (a) any Subject Shares are issued to a Company Stockholder after the date of this Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Subject Shares or otherwise, (b) a Company Stockholder purchases or otherwise acquires beneficial ownership of any Subject Shares or (c) a Company Stockholder acquires the right to vote or share in the voting of any Subject Shares (collectively the “New Securities”), then such New Securities acquired or purchased by such Company Stockholder shall be subject to the terms of this Agreement to the same extent as if they constituted the Subject Shares owned by such Company Stockholder as of the date hereof. Section 1.4 Stockholder Agreements. Hereafter until the Expiration Time, each Company Stockholder hereby unconditionally and irrevocably agrees that, at any meeting of the Stockholders of the Company (or any adjournment or postponement thereof), and in any action by written consent of the Stockholders of the Company requested by the Board of Directors of the Company or otherwise undertaken as contemplated by the Transactions, including in the form attached as Exhibit A (which written consent shall be delivered promptly, and in any event within forty-eight (48) hours, after (x) the Proxy Statement/Registration Statement (as contemplated by the Merger Agreement) has been declared effective and has been delivered or otherwise made available to the stockholders of Acquiror and the Company, and (y) the Company requests such delivery), such Company Stockholder shall, if a meeting is held, appear at the meeting, in person or by proxy, or otherwise cause its Subject Shares to be counted as present thereat for purposes of establishing a quorum, and such Company Stockholder shall vote or provide consent (or cause to be voted or consented), in person or by proxy, all of its Subject Shares: (a) to approve and adopt the Merger Agreement and the Transactions; (b) to authorize and approve the Merger as a SCH Transaction pursuant to Article IV(B)(6)(e) of the Charter; (c) to exercise the drag-along rights set forth in Section 2.9 of the Voting Agreement; (d) in any other circumstances upon which a consent or other approval is required under the Charter or the Investment Agreements or otherwise sought with respect to the Merger Agreement or the Transactions, to vote, consent or approve (or cause to be voted, consented or approved) all of such Company Stockholder’s Subject Shares held at such time in favor thereof; (e) against and withhold consent with respect to any merger, purchase of all or substantially all of the Company’s assets or other business combination transaction (other than the Merger Agreement and the Transactions); and (f) against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement, the Merger Agreement or the Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of the Company under the Merger Agreement or (C) result in any of the conditions set forth in Article IX of the Merger Agreement not being fulfilled. Each Company Stockholder hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing. 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Each Company Stockholder agrees not to commence, join in, facilitate, assist or encourage, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Acquiror, Merger Sub, the Company or any of their respective successors or directors (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any person in connection with the evaluation, negotiation or entry into the Merger Agreement. Section 1.6 Affiliate Agreements. Each Company Stockholder hereby agrees and consents to the termination of all Affiliate Arrangements set forth on Section 6.4 of the Company Disclosure Letter to which such Company Stockholder is party, effective as of the Effective Time without any further liability or obligation to the Company, the Company’s Subsidiaries or Acquiror. Section 1.7 Registration Rights Agreement. Each of the Company Stockholders set forth on Schedule II will deliver, substantially simultaneously with the Effective Time, a duly-executed copy of the Amended and Restated Registration Rights Agreement substantially in the form attached as Exhibit C to the Merger Agreement. Section 1.8 Further Assurances. Each Company Stockholder shall execute and deliver, or cause to be delivered, such additional documents, and take, or cause to be taken, all such further actions and do, or cause to be done, all things reasonably necessary (including under applicable Laws), or reasonably requested by Acquiror or the Company, to effect the actions and consummate the Mergers and the other transactions contemplated by this Agreement and the Merger Agreement (including the Transactions), in each case, on the terms and subject to the conditions set forth therein and herein, as applicable. Section 1.9 No Inconsistent Agreement. Each Company Stockholder hereby represents and covenants that such Company Stockholder has not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such Company Stockholder’s obligations hereunder. Section 1.10 Consent to Disclosure. Each Company Stockholder hereby consents to the publication and disclosure in the Proxy Statement/Registration Statement (and, as and to the extent otherwise required by applicable securities Laws or the SEC or any other securities authorities, any other documents or communications provided by Acquiror or the Company to any Governmental Authority or to securityholders of Acquiror) of such Company Stockholder’s identity and beneficial ownership of Subject Shares and the nature of such Company Stockholder’s commitments, arrangements and understandings under and relating to this Agreement and, if deemed appropriate by Acquiror or the Company, a copy of this Agreement. Each Company Stockholder will promptly provide any information reasonably requested by Acquiror or the Company for any regulatory application or filing made or approval sought in connection with the Transactions (including filings with the SEC). 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Each Company Stockholder represents and warrants as of the date hereof to Acquiror and the Company (solely with respect to itself, himself or herself and not with respect to any other Company Stockholder) as follows: (a) Organization; Due Authorization. If such Company Stockholder is not an individual, it is duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby are within such Company Stockholder’s corporate, limited liability company or organizational powers and have been duly authorized by all necessary corporate, limited liability company or organizational actions on the part of such Company Stockholder. If such Company Stockholder is an individual, such Company Stockholder has full legal capacity, right and authority to execute and deliver this Agreement and to perform his or her obligations hereunder. This Agreement has been duly executed and delivered by such Company Stockholder and, assuming due authorization, execution and delivery by the other parties to this Agreement, this Agreement constitutes a legally valid and binding obligation of such Company Stockholder, enforceable against such Company Stockholder in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance and other equitable remedies). If this Agreement is being executed in a representative or fiduciary capacity, the Person signing this Agreement has full power and authority to enter into this Agreement on behalf of the applicable Company Stockholder. (b) Ownership. Such Company Stockholder is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, all of such Company Stockholder’s Subject Shares, and there exist no Liens or any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such Subject (other than transfer restrictions under the Securities Act)) affecting any such Subject Shares, other than Liens pursuant to (i) this Agreement, (ii) the Charter, (iii) the Merger Agreement, (iv) the Voting Agreement or (v) any applicable securities Laws. Such Company Stockholder’s Subject Shares are the only equity securities in the Company owned of record or beneficially by such Company Stockholder on the date of this Agreement, and none of such Company Stockholder’s Subject Shares are subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Subject Shares, except as provided hereunder and under the Voting Agreement. Other than the Company Warrants set forth opposite such Company Stockholder’s name on Schedule I, such Company Stockholder does not hold or own any rights to acquire (directly or indirectly) any equity securities of the Company or any equity securities convertible into, or which can be exchanged for, equity securities of the Company. 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The execution and delivery of this Agreement by such Company Stockholder does not, and the performance by such Company Stockholder of his, her or its obligations hereunder will not, (i) if such Company Stockholder is not an individual, conflict with or result in a violation of the organizational documents of such Company Stockholder or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Company Stockholder or such Company Stockholder’s Subject Shares) to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such Company Stockholder of its, his or her obligations under this Agreement. (d) Litigation. There are no Actions pending against such Company Stockholder, or to the knowledge of such Company Stockholder threatened against such Company Stockholder, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Company Stockholder of its, his or her obligations under this Agreement. (e) Adequate Information. Such Company Stockholder is a sophisticated stockholder and has adequate information concerning the business and financial condition of Acquiror and the Company to make an informed decision regarding this Agreement and the Transactions and has independently and without reliance upon Acquiror or the Company and based on such information as such Company Stockholder has deemed appropriate, made its own analysis and decision to enter into this Agreement. Such Company Stockholder acknowledges that Acquiror and the Company have not made and do not make any representation or warranty, whether express or implied, of any kind or character except as expressly set forth in this Agreement. Such Company Stockholder acknowledges that the agreements contained herein with respect to the Subject Shares held by such Company Stockholder are irrevocable. (f) Brokerage Fees. Except as described on Section 4.16 of the Company Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated by the Merger Agreement based upon arrangements made by such Company Stockholder, for which the Company or any of its Affiliates may become liable. (g) Acknowledgment. Such Company Stockholder understands and acknowledges that each of Acquiror and the Company is entering into the Merger Agreement in reliance upon such Company Stockholder’s execution and delivery of this Agreement."} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b30"], "char_count": 1022, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "80750675717910973c6c338eeec15094882720e2aee76e3f6c6cdc2d68f7bc68", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE III MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 30, "char_end": 1022, "char_start": 0, "fragment_sha256": "59d699ec77c11c9a58e1d5475da4f9f2eb5a04b4bcc182527bf0fa988d011b46", "heading_path": ["EXECUTION VERSION", "ARTICLE III MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s13", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Section 3.1 Termination. This Agreement and all of its provisions shall terminate and be of no further force or effect upon the earlier of (a) the Expiration Time and (b) as to each Company Stockholder, the written agreement of Acquiror, the Company and such Company Stockholder. Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate, without any liability or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated hereby, and no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under contract, tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Agreement shall not relieve any party hereto from liability arising in respect of any breach of this Agreement prior to such termination. This ARTICLE IV shall survive the termination of this Agreement. Field: Page; Sequence: 6; Value: 2"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b33"], "char_count": 565, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b5555134e72c2905ad847a29f50aa672894be93051655d9516d1fe6f1182edac", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["EXECUTION VERSION", "ARTICLE III MISCELLANEOUS", "Field: Sequence; Type: Arabic; Name: PageNo 6 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 33, "char_end": 565, "char_start": 0, "fragment_sha256": "0defae0cbf556304ea911becddb3416e1036c61a2fafa8a55ba65f195ad846f7", "heading_path": ["EXECUTION VERSION", "ARTICLE III MISCELLANEOUS", "Field: Sequence; Type: Arabic; Name: PageNo 6 Field: /Sequence"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s14", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Section 3.2 Governing Law. This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement) will be governed by and construed in accordance with the internal Laws of the State of Delaware applicable to agreements executed and performed entirely within such State."} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b35", "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b36"], "char_count": 2142, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1aab95e4293e51cca95ec85b335d7818e16c717f1bfb26b664a9f490fbd03503", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 35, "char_end": 1141, "char_start": 0, "fragment_sha256": "47b3eb5b2c74a6606a9f63890c8bdb3b01cfa46c43a45e91db9523e2c27eff49", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "p"}, {"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 36, "char_end": 999, "char_start": 0, "fragment_sha256": "9a9a057af17a695d91198d0ba5c2fa197d417cbcc2c07b3395f9a75a4da26178", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "(a) THE PARTIES TO THIS AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS LOCATED IN WILMINGTON, DELAWARE OR THE COURTS OF THE UNITED STATES LOCATED IN WILMINGTON, DELAWARE IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS AGREEMENT WAIVE, AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT THERETO OR THAT SUCH ACTION MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS OR THAT THIS AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS OR THAT THEIR PROPERTY IS EXEMPT OR IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER. SERVICE OF PROCESS WITH RESPECT THERETO MAY BE MADE UPON ANY PARTY TO THIS AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS AS PROVIDED IN Section 3.8.\n\n(b) WAIVER OF TRIAL BY JURY. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 3.3."} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b37"], "char_count": 34, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5980b7ed2d7dac77c0b8a7a93b2188255831d3866b8be5456691be1483c67156", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 37, "char_end": 34, "char_start": 0, "fragment_sha256": "303010923e6ed4ce079d7f48cb0471d4da9171faf42cda8416f792959ae270bd", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL."], "table_index": null, "tag_name": "span"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s15", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Field: Page; Sequence: 7; Value: 2"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b40"], "char_count": 2319, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c7793a73548e181567acfc2dc3987bf2c037704911a2fdc6d733527d7e396850", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 40, "char_end": 2319, "char_start": 0, "fragment_sha256": "d73d4364b3e559c5081f339ad024d95a6869bc0b453ca242fc0ed9735f6c4f0d", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s16", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Section 3.4 Assignment. This Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder will be assigned (including by operation of law) without the prior written consent of the parties hereto. Section 3.5 Specific Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the chancery court or any other state or federal court within the State of Delaware, this being in addition to any other remedy to which such party is entitled at law or in equity. Section 3.6 Amendment; Waiver. This Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except upon the execution and delivery of a written agreement executed by Acquiror, the Company and the Company Stockholders. Section 3.7 Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. Section 3.8 Notices. All notices and other communications among the parties hereto shall be in writing and shall be deemed to have been duly given (a) when delivered in person, (b) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (c) when delivered by FedEx or other nationally recognized overnight delivery service or (d) when e-mailed during normal business hours (and otherwise as of the immediately following Business Day), addressed as follows: If to Acquiror: Social Capital Hedosophia Holdings Corp. II 317 University Avenue Palo Alto, California 94301"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b41"], "char_count": 87, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "97ed6ef6ad8c0ad926713c04d2617710953d86ccc2be186a1636ddb58975739b", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 41, "char_end": 57, "char_start": 0, "fragment_sha256": "9e9414969f9fc05ad63d0f757eadc9b48ca8fa3c9feaef5d5d8eef83450a081e", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence"], "table_index": 0, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p15", "passage_kind": "table", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s16", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b41", "text": "| | |\n| --- | --- |\n| Attention: | Steve Trieu |\n| Email: | steve@socialcapital.com |"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b42"], "char_count": 34, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0b65b35fcdee13aa3e5dda8f4b1b07cd8b32dde995b115c2eb78bdb49682e4a1", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; 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Ellin |\n| | Christopher M. Barlow |\n| Email: | howard.ellin@skadden.com |\n| | christopher.barlow@skadden.com |"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b47"], "char_count": 93, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dca18dc8d5c9713f93f278be733a0f10169e005ac95db56ff57a9c8acddfa09e", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 47, "char_end": 93, "char_start": 0, "fragment_sha256": "95e948ad9a1e786f0db115e609d43f42812e060a7f46c955215b95e086542fcd", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; 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Dubofsky |\n| | Kristen Grannis |\n| Email: | Justin.Hamill@lw.com |\n| | Joshua.Dubofsky@lw.com |\n| | Kristen.Grannis@lw.com |"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b51"], "char_count": 204, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8c36c2b920449fb8c04090b13ccc22087f66c8c3b4cf31f62f70291335700efd", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 51, "char_end": 204, "char_start": 0, "fragment_sha256": "bceb5dab97b4cf27756c461c3052b6cd8d34f4bdcc7ecd04f90cecf0dedfee29", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s17", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "If to a Company Stockholder: To such Company Stockholder’s address set forth in Schedule I with a copy to (which will not constitute notice): Latham & Watkins LLP 885 Third Avenue New York, New York 10022"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b52"], "char_count": 195, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "86b2f2c28c14d6eb5011d6d0cab4dba3cb8c7d4e2e21de093962abe15a003cba", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 52, "char_end": 149, "char_start": 0, "fragment_sha256": "6e44d7557aa30f22af765bc5227a8e5f9cdfcf5e774a45c1f9ed5f07cd272a53", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "table_index": 4, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p24", "passage_kind": "table", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s17", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b52", "text": "| | |\n| --- | --- |\n| Attention: | Justin Hamill |\n| | Joshua M. Dubofsky |\n| | Kristen Grannis |\n| Email: | Justin.Hamill@lw.com |\n| | Joshua.Dubofsky@lw.com |\n| | Kristen.Grannis@lw.com |"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b53"], "char_count": 301, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fb9bee8038e85e97cf6ee3cd42ccf4dd2f5f0e208a618b40030909002aa786a6", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 53, "char_end": 301, "char_start": 0, "fragment_sha256": "97b11b945e8a3f40115ba9cf1b8d07f4aadb3bd78d84db97d8e770be246b94cc", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "Field: Sequence; Type: Arabic; Name: PageNo 7 Field: /Sequence", "Field: Sequence; Type: Arabic; Name: PageNo 8 Field: /Sequence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s17", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Section 3.9 Counterparts. This Agreement may be executed in two or more counterparts (any of which may be delivered by electronic transmission), each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument. 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This Agreement and the agreements referenced herein constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements or representations by or among the parties hereto to the extent they relate in any way to the subject matter hereof."} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b58"], "char_count": 35, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7c1689f8cfd45afeceda0cafdd76b6b2ef13b75697abb243daf579849240e52b", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "[THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 58, "char_end": 35, "char_start": 0, "fragment_sha256": "7e47f8d8562ae12091c3c7389021bb4c841dbe5b5bca1065015a943e5e3f000f", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "[THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]"], "table_index": null, "tag_name": "span"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s19", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "Field: Page; Sequence: 10; Value: 2"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b61"], "char_count": 3978, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fc3a39aedfdc35e83e1d0ce8aab5878e8752333e88eddb06347b8ca64fb2b483", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.3", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "[THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]", "Field: Sequence; Type: Arabic; Name: PageNo 10 Field: /Sequence"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "block_sequence": 61, "char_end": 3978, "char_start": 0, "fragment_sha256": "62e02e12326db07a1267ba015e42385ea374d9a87d2f5e016017c833da10e6a5", "heading_path": ["Section 3.3 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.", "[THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]", "Field: Sequence; Type: Arabic; Name: PageNo 10 Field: /Sequence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#s20", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": null, "text": "IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: SVF EXCALIBUR (CAYMAN) LIMITED By: /s/ Karen Ellerbe Name: Karen Ellerbe Title: Director IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: KHOSLA VENTURES IV, LP By: Khosla Ventures Associates IV, LLC, a Delaware limited liability company and general partner of Khosla Ventures IV, LP By: /s/ John Demeter Name: John Demeter Title: General Counsel KHOSLA VENTURES IV (CF), LP By: Khosla Ventures IV, LLC, a Delaware limited liability company and general partner of Khosla Ventures IV (CF), LP By: /s/ John Demeter Name: John Demeter Title: General Counsel KHOSLA VENTURES SEED B, LP By: Khosla Ventures Seed Associates B, LLC, a Delaware limited liability company and general partner of Khosla Ventures Seed B, LP By: /s/ John Demeter Name: John Demeter Title: General Counsel KHOSLA VENTURES SEED B (CF), LP By: Khosla Ventures Seed Associates B, LLC, a Delaware limited liability company and general partner of Khosla Ventures Seed B (CF), LP By: /s/ John Demeter Name: John Demeter Title: General Counsel IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: GGV CAPITAL V L.P. By: GGV Capital V L.L.C., its General Partner By: /s/ Glenn Solomon Name: Glenn Solomon Title: Managing Director GGV CAPITAL V ENTREPRENEURS FUND L.P. By: GGV Capital V L.L.C., its General Partner By: /s/ Glenn Solomon Name: Glenn Solomon Title: Managing Director GGV CAPITAL SELECT L.P. By: GGV Capital Select L.L.C., its General Partner By: /s/ Glenn Solomon Name: Glenn Solomon Title: Managing Director IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: NORWEST VENTURE PARTNERS XIII, LP By: Genesis VC Partners XIII, LLC, its General Partner By: NVP Associates, LLC, its Managing Member By: /s/ Jeff Crowe Name: Jeff Crowe Title: Managing Member NORWEST VENTURE PARTNERS XIV, LP By: Genesis VC Partners XIV, LLC, its General Partner By: NVP Associates, LLC, its Managing Member By: /s/ Jeff Crowe Name: Jeff Crowe Title: Managing Member IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: FIFTH WALL VENTURES, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV I, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV II, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV VIII, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV XIV, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner FIFTH WALL VENTURES SPV XV, L.P. By: Fifth Wall Ventures GP, LLC, its General Partner By: /s/ Brad Greiwe Name: Brad Greiwe Title: Managing Partner IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: GENERAL ATLANTIC (ODL), L.P. By: General Atlantic (SPV) GP, LLC, its General Partner By: /s/ J. 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COMPANY STOCKHOLDERS: ANDREESSEN HOROWITZ FUND V, L.P. for itself and as nominee for Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P., and Andreessen Horowitz Fund V-Q, L.P. By: AH Equity Partners V, L.L.C., its general partner By: /s/ Scott Kupor Name: Scott Kupor Title: Managing Partner IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. COMPANY STOCKHOLDERS: AI LIQUIDRE LLC By: Access Industries Management LLC, its manager By: /s/ Alejandro Moreno Name: Alejandro Moreno Title: Executive Vice President By: /s/ Suzette Del Giudice Name: Suzette Del Giudice Title: Executive Vice President IN WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above. 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"https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex10-3.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b106", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Holder | | Shares of Common Stock | | | Shares of Series A Preferred Stock | | | Shares of Series B Preferred Stock | | | Shares of Series C Preferred Stock | | | Shares of Series C-1 Preferred Stock | | | Shares of Series D Preferred Stock | | | Shares of Series D-1 Preferred Stock | | | Shares of Series E Preferred Stock | | | Shares of Series E-1 Preferred Stock | | | Shares of Series E-2 Preferred Stock | | | Warrants | | | Notice Information | | | | | | | | | | | | | |\n| SVF Excalibur (Cayman) Limtied | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 41,762,372 | | | | | | | | 3,751,275 | | | | | | | | | |\n| AI LiquidRE LLC | | | | | | | | | | | | | | | 8,917,424 | | | | | | | | 1,520,024 | | | | 2,588,340 | | | | 5,220,296 | | | | | | | | 1,623,213 | | | | | | | | | |\n| Khosla Ventures IV, LP | | | 4,751,194 | | | | 14,253,656 | | | | 3,404,746 | | | | 3,512,312 | | | | 526,944 | | | | 285,738 | | | | | | | | 9,813 | | | | | | | | 35,258 | | | | | | | | | |\n| Khosla Ventures IV (CF) LP | | | 303,752 | | | | 911,262 | | | | 217,672 | | | | 224,548 | | | | 33,688 | | | | 18,268 | | | | | | | | 627 | | | | | | | | 2,254 | | | | | | | | | |\n| Khosla Ventures Seed B, LP | | | 20,086 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Khosla Ventures Seed B (CF), LP | | | 1,140 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| GGV Capital V L.P. | | | | | | | | | | | 9,431,358 | | | | 1,075,218 | | | | 811,114 | | | | | | | | 663,968 | | | | | | | | | | | | | | | | | | | | | |\n| GGV Capital V Entrepreneurs Fund L.P. | | | | | | | | | | | 346,132 | | | | 39,460 | | | | 29,766 | | | | | | | | 24,366 | | | | | | | | | | | | | | | | | | | | | |\n| GGV Capital Select L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,520,024 | | | | 1,892,924 | | | | 1,044,059 | | | | | | | | 75,025 | | | | | | | | | |\n| Norwest Venture Partners XIII, LP | | | | | | | | | | | | | | | | | | | | | | | 7,600,112 | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Norwest Venture Partners XIV, LP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,610,148 | | | | | | | | 150,051 | | | | | | | | | |\n| LV Opendoor JV, LLC | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,220,296 | | | | | | | | 300,102 | | | | | | | | | |\n| Fifth Wall Ventures, L.P. | | | | | | | | | | | | | | | | | | | | | | | 724,289 | | | | 853,618 | | | | | | | | | | | | 562,691 | | | | | | | | | |\n| Fifth Wall Ventures SPV I, L.P. | | | | | | | | | | | | | | | | | | | | | | | 2,713,219 | | | | 3,414,474 | | | | | | | | | | | | | | | | 300,000 | | | | | |\n| Fifth Wall Ventures SPV II, L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,593,741 | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Fifth Wall Ventures SPV VIII, L.P. | | | | | | | | | | | | | | | | | | | | | | | 1,808,813 | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Fifth Wall Ventures SPV XIV, L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 187,563 | | | | | | | | | |\n| Fifth Wall Ventures SPV XV, L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 157,291 | | | | | | | | | |\n| General Atlantic (ODL), L.P. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,830,444 | | | | | | | | 3,751,275 | | | | | | | | | |\n| Andreessen Horowitz Fund V, L.P., as nominee | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,566,088 | | | | | | | | 3,751,275 | | | | | | | | | |\n| Eric Wu | | | 20,400,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Total: | | | 25,476,172 | | | | 15,164,918 | | | | 13,399,908 | | | | 13,768,962 | | | | 1,401,512 | | | | 17,784,228 | | | | 9,437,690 | | | | 65,264,143 | | | | 0 | | | | 14,347,273 | | | | 300,000 | | | | | |"} +{"artifact_role": "ex10-03", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm#b108"], "char_count": 40, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6a847e66d443b0b834f29a5a035a252d41c88985bda3e2e6c4ae0f7ea026cfdb", "derivation_id": "8ddb5e07cad26f330db875de627a902daa13dee91cd399d77966b01d66973bcb", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex10-3.htm", "document_type": "material_agreement", 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Undisclosed Liabilities 33 Section 4.10. Litigation and Proceedings 33 Section 4.11. Legal Compliance 33 Section 4.12. Contracts; No Defaults 34 Section 4.13. Company Benefit Plans 36 Section 4.14. Labor Relations; Employees 38 Section 4.15. Taxes 39 Section 4.16. Brokers\u2019 Fees 41 Section 4.17. Insurance 41 Section 4.18. Licenses 42 Section 4.19. Equipment and Other Tangible Property 42 Section 4.20. Real Property 42 Section 4.21. Intellectual Property 44 Section 4.22. Privacy and Cybersecurity 45 Section 4.23. Environmental Matters 46 Section 4.24. Absence of Changes 46 Section 4.25. Anti-Corruption Compliance 47 Section 4.26. Sanctions and International Trade Compliance 47 Section 4.27. Information Supplied 47 Section 4.28. Vendors 48 Section 4.29. Government Contracts 48 Section 4.30. Sufficiency of Assets 48 Section 4.31. Mortgage Loans 48 Section 4.32. No Additional Representation or Warranties 49 Article V REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB Section 5.1. Company Organization 49 Section 5.2. Due Authorization 50 Section 5.3. No Conflict 51 Section 5.4. Litigation and Proceedings 51 Section 5.5. SEC Filings 52 Section 5.6. Internal Controls; Listing; Financial Statements 52 Section 5.7. Governmental Authorities; Consents 53 Section 5.8. Trust Account 53 Section 5.9. Investment Company Act; JOBS Act 54 Section 5.10. Absence of Changes 54 Section 5.11. No Undisclosed Liabilities 54 Section 5.12. Capitalization of Acquiror 55 Section 5.13. 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Indebtedness 56 Section 5.15. Taxes 56 Section 5.16. Business Activities 58 Section 5.17. Stock Market Quotation 59 Section 5.18. Registration Statement, Proxy Statement and Proxy Statement/Registration Statement 59 Section 5.19. No Outside Reliance 60 Section 5.20. No Additional Representation or Warranties 60 Article VI COVENANTS OF THE COMPANY Section 6.1. Conduct of Business 61 Section 6.2. Inspection 64 Section 6.3. Preparation and Delivery of Additional Company Financial Statements 65 Section 6.4. Affiliate Agreements 66 Section 6.5. Pre-Closing Restructuring 66 Section 6.6. Acquisition Proposals 66 Article VII COVENANTS OF ACQUIROR Section 7.1. Employee Matters 66 Section 7.2. Trust Account Proceeds and Related Available Equity 67 Section 7.3. Listing 68 Section 7.4. No Solicitation by Acquiror 68 Section 7.5. Acquiror Conduct of Business 68 Section 7.6. Post-Closing Directors and Officers of Acquiror 70 Section 7.7. Domestication 70 Section 7.8. Indemnification and Insurance 71 Section 7.9. Acquiror Public Filings 72 Section 7.10. PIPE Subscriptions 72 Section 7.11. Stockholder Litigation 73 Article VIII JOINT COVENANTS Section 8.1. HSR Act; Other Filings 73 Section 8.2. 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II, a Cayman Islands exempted company limited by shares (which shall migrate to and domesticate as a Delaware corporation prior to the Closing (as defined below)) (\u201cAcquiror\u201d), Hestia Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of Acquiror (\u201cMerger Sub\u201d) and Opendoor Labs Inc., a Delaware corporation (the \u201cCompany\u201d)." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b47", + "block_sequence": 47, + "block_sha256": "eb1352613f6b1f92be8379b615ec782f784d20f5cbe9c138c65ad6732471d6e3", + "block_type": "heading", + "char_count": 8, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 47, + "char_end": 8, + "char_start": 0, + "fragment_sha256": "8fbb8a51275eedd52c54dad74cc59d6cc9177049602258680a088ee9e64d4712", + "heading_path": [ + "TABLE OF CONTENTS", + "RECITALS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s21", + "table": null, + "text": "RECITALS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b48", + "block_sequence": 48, + "block_sha256": "e06891e4569c944b3afe8b8f11d6a467ca46a0e40ef36f0ea2a318a5c54fbde8", + "block_type": "paragraph", + "char_count": 8037, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 48, + "char_end": 8037, + "char_start": 0, + "fragment_sha256": "1edc14d67e9cfed04a3465f0a419c314f68a9e9515d82033d11f0a455c9d5018", + "heading_path": [ + "TABLE OF CONTENTS", + "RECITALS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s21", + "table": null, + "text": "WHEREAS, Acquiror is a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses; WHEREAS, prior to the Effective Time (as defined below) and subject to the conditions of this Agreement, Acquiror shall migrate to and domesticate as a Delaware corporation in accordance with Section 388 of the Delaware General Corporation Law, as amended (the \u201cDGCL\u201d) and the Cayman Islands Companies Law (2020 Revision) (the \u201cDomestication\u201d); WHEREAS, concurrently with the Domestication, Acquiror shall file a certificate of incorporation with the Secretary of State of Delaware and adopt bylaws (in the forms attached as Exhibits A and B hereto, with such changes as may be agreed in writing by Acquiror and the Company); WHEREAS, in connection with the Domestication, (i) each then issued and outstanding share of Acquiror Class A Common Stock (as defined below) shall convert automatically, on a one-for-one basis, into a share of common stock, par value $0.0001, per share of Acquiror (after its domestication as a corporation incorporated in the State of Delaware) (the \u201cDomesticated Acquiror Common Stock\u201d); (ii) each then issued and outstanding share of Acquiror Class B Common Stock (as defined below) shall convert automatically, on a one-for-one basis, into a share of Domesticated Acquiror Common Stock; (iii) each then issued and outstanding warrant of Acquiror (\u201cCayman Acquiror Warrant\u201d) shall convert automatically into a warrant to acquire one share of Domesticated Acquiror Common Stock (\u201cDomesticated Acquiror Warrant\u201d), pursuant to the Warrant Agreement; and (iv) each then issued and outstanding unit of Acquiror (the \u201cCayman Acquiror Units\u201d) shall convert automatically into a unit of Acquiror (after its domestication as a corporation incorporated in the State of Delaware) (the \u201cDomesticated Acquiror Units\u201d), with each Domesticated Acquiror Unit representing one share of Domesticated Acquiror Common Stock and one-third of one Domesticated Acquiror Warrant; WHEREAS, upon the terms and subject to the conditions of this Agreement, and in accordance with the DGCL, (x) Merger Sub will merge with and into the Company, the separate corporate existence of Merger Sub will cease and the Company will be the surviving corporation and a wholly owned subsidiary of Acquiror (the \u201cMerger\u201d) and (y) Acquiror will change its name to \u201cOpendoor Technologies Inc.\u201d; Field: Page; Sequence: 7 WHEREAS, prior to the Effective Time (as defined below), (i) all of the Company Warrants (as defined below) will be exercised in full on a cash or cashless basis or terminated without exercise, as applicable, in accordance with their respective terms (the \u201cCompany Warrant Settlement\u201d) and (ii) each share of Company Preferred Stock (as defined below) will be converted into one share of Company Common Stock (as defined below) (the \u201cCompany Preferred Conversion\u201d); WHEREAS, upon the Effective Time and following the Company Warrant Settlement and Company Preferred Conversion, all shares of the Company\u2019s Capital Stock (as defined below) and Company Awards will be converted into the right to receive (in the case of the Company Awards, if and to the extent earned and subject to their respective terms) the Aggregate Merger Consideration as set forth in this Agreement; WHEREAS, each of the parties intends that, for United States federal income tax purposes, the Merger will qualify as a \u201creorganization\u201d within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d) and the Treasury Regulations, to which each of Acquiror and the Company are to be parties under Section 368(b) of the Code, and this Agreement is intended to constitute a \u201cplan of reorganization\u201d within the meaning of Section 368 of the Code and the Treasury Regulations; WHEREAS, the Board of Directors of the Company has approved this Agreement and the documents contemplated hereby and the transactions contemplated hereby and thereby, declared it advisable for the Company to enter into this Agreement and the other documents contemplated hereby and recommended the approval of this agreement by the Company\u2019s stockholders; WHEREAS, as a condition and inducement to Acquiror\u2019s willingness to enter into this Agreement, simultaneously with the execution and delivery of this Agreement, the Requisite Company Stockholders (as defined below) have each executed and delivered to Acquiror a Company Holders Support Agreement (as defined below) pursuant to which the Requisite Company Stockholders have agreed, among other things, to vote (whether pursuant to a duly convened meeting of the stockholders of the Company or pursuant to an action by written consent of the stockholders of the Company) in favor of the adoption and approval, promptly following the time at which the Registration Statement shall have been declared effective and delivered or otherwise made available to stockholders, of this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby (including the Pre-Closing Restructuring); WHEREAS, the Board of Directors of Acquiror has (i) determined that it is advisable for Acquiror to enter into this Agreement and the documents contemplated hereby, (ii) approved the execution and delivery of this Agreement and the documents contemplated hereby and the transactions contemplated hereby and thereby, and (iii) recommended the adoption and approval of this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby by the Acquiror Shareholders; WHEREAS, Acquiror, as sole shareholder of Merger Sub has approved and adopted this Agreement and the documents contemplated hereby and the transactions contemplated hereby and thereby; Field: Page; Sequence: 8; Options: NewSection; Value: 2 WHEREAS, in furtherance of the Merger and in accordance with the terms hereof, Acquiror shall provide an opportunity to its shareholders to have their outstanding shares of Acquiror Common Stock redeemed on the terms and subject to the conditions set forth in this Agreement and Acquiror\u2019s Governing Documents (as defined below) in connection with obtaining the Acquiror Shareholder Approval (as defined below); WHEREAS, as a condition and inducement to the Company\u2019s willingness to enter into this Agreement, simultaneously with the execution and delivery of this Agreement, the Sponsor has executed and delivered to the Company the Sponsor Support Agreement (as defined below) pursuant to which the Sponsor has agreed to, among other things, vote to adopt and approve this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby; WHEREAS, on or prior to the date hereof, Acquiror entered into Subscription Agreements (as defined below) with PIPE Investors (as defined below) pursuant to which, and on the terms and subject to the conditions of which, such PIPE Investors agreed to purchase from Acquiror shares of Domesticated Acquiror Common Stock for an aggregate purchase price equal to the Minimum PIPE Investment Amount (as defined below), such purchases to be consummated prior to or substantially concurrently with the Closing; WHEREAS, at the Closing, Acquiror, the Sponsor, the Major Company Stockholders (as defined below), and certain of their respective Affiliates, as applicable, shall enter into a Registration Rights Agreement (the \u201cRegistration Rights Agreement\u201d) in the form attached hereto as Exhibit C (with such changes as may be agreed in writing by Acquiror and the Company), which shall be effective as of the Closing; and NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in this Agreement and intending to be legally bound hereby, Acquiror, Merger Sub and the Company agree as follows:" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b49", + "block_sequence": 49, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 49, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "TABLE OF CONTENTS", + "RECITALS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s21", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b50", + "block_sequence": 50, + "block_sha256": "ddc2bcccbb51f53f26ed7542840fed3c71ddfea08835dfcfb3c862a2e09afee5", + "block_type": "page_number", + "char_count": 62, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 50, + "char_end": 62, + "char_start": 0, + "fragment_sha256": "81c9e468c622602b5240ed73318fac462a06d69bbf8dcdbbaad2e0358f0c44eb", + "heading_path": [ + "TABLE OF CONTENTS", + "RECITALS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s21", + "table": null, + "text": "Field: Sequence; Type: Arabic; Name: PageNo 2 Field: /Sequence" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b51", + "block_sequence": 51, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 51, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "TABLE OF CONTENTS", + "RECITALS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s21", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b52", + "block_sequence": 52, + "block_sha256": "76a1acf64541866d12c96f234021e655d4c33ae90792a4aa730bc13cac5f8a3b", + "block_type": "heading", + "char_count": 9, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 52, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "f8e859635735fad7811c019857f24accde3093191a122d7fc005f49fde0ba0ea", + "heading_path": [ + "TABLE OF CONTENTS", + "RECITALS", + "Article I" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s22", + "table": null, + "text": "Article I" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b53", + "block_sequence": 53, + "block_sha256": "6dbcdd795efaf837ae6c9023a4ee0738a6991fd22f2498a153f4d845b6096ef2", + "block_type": "heading", + "char_count": 19, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 53, + "char_end": 19, + "char_start": 0, + "fragment_sha256": "04bf58ced2b74aadbeb35b7469fa5982c5358f946194aece4e9b71ae5d0df775", + "heading_path": [ + "TABLE OF CONTENTS", + "CERTAIN DEFINITIONS" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", + "table": null, + "text": "CERTAIN DEFINITIONS" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54", + "block_sequence": 54, + "block_sha256": "996c4d2829502d4812eeee8cf09e4e511f45a4a730c55fb8c3be712165f2833d", + "block_type": "paragraph", + "char_count": 47169, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 54, + "char_end": 47169, + "char_start": 0, + "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", + "heading_path": [ + "TABLE OF CONTENTS", + "CERTAIN DEFINITIONS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", + "table": null, + "text": "Section 1.1. Definitions. As used herein, the following terms shall have the following meanings: \u201c1H Financial Statements\u201d has the meaning specified in Section 6.3(b). \u201c2020 Audited Financial Statements\u201d has the meaning specified in Section 6.3(d). \u201cAcquiror\u201d has the meaning specified in the Preamble hereto. \u201cAcquiror Class A Common Stock\u201d means prior to the Domestication, Class A ordinary shares, par value $0.0001 per share, of Acquiror. \u201cAcquiror Class B Common Stock\u201d means prior to the Domestication, Class B ordinary shares, par value $0.0001 per share, of Acquiror. Field: Page; Sequence: 9; Value: 2 \u201cAcquiror Common Share\u201d means a share of Acquiror Common Stock. \u201cAcquiror Common Stock\u201d means (a) prior to the Domestication, Acquiror Class A Common Stock and Acquiror Class B Common Stock, and (b) from and following the Domestication, Domesticated Acquiror Common Stock. \u201cAcquiror Common Warrant\u201d means a warrant to purchase one (1) share of Acquiror Common Stock at an exercise price of eleven Dollars fifty cents ($11.50) that was included in the units sold as part of Acquiror\u2019s initial public offering. \u201cAcquiror Cure Period\u201d has the meaning specified in Section 10.1(g). \u201cAcquiror Disclosure Letter\u201d has the meaning specified in the introduction to Article V. \u201cAcquiror Financial Statements\u201d has the meaning specified in Section 5.6(d). \u201cAcquiror Indemnified Parties\u201d has the meaning specified in Section 7.8(a). \u201cAcquiror Option\u201d has the meaning specified in Section 3.3(a). \u201cAcquiror Private Placement Warrant\u201d means a warrant to purchase one (1) share of Acquiror Class A Common Stock at an exercise price of eleven Dollars fifty cents ($11.50) issued to the Sponsor. \u201cAcquiror SEC Filings\u201d has the meaning specified in Section 5.5. \u201cAcquiror Securities\u201d has the meaning specified in Section 5.12(a). \u201cAcquiror Share Redemption\u201d means the election of an eligible (as determined in accordance with Acquiror\u2019s Governing Documents) holder of Acquiror Class A Common Stock to redeem all or a portion of the shares of Acquiror Class A Common Stock held by such holder at a per-share price, payable in cash, equal to a pro rata share of the aggregate amount on deposit in the Trust Account (including any interest earned on the funds held in the Trust Account) (as determined in accordance with Acquiror\u2019s Governing Documents) in connection with the Transaction Proposals. \u201cAcquiror Share Redemption Amount\u201d means the aggregate amount payable with respect to all Acquiror Share Redemptions. \u201cAcquiror Shareholder Approval\u201d means the approval of (1) those Transaction Proposals identified in clauses (A), (B) and (C) of Section 8.2(b), in each case, by an affirmative vote of the holders of at least two-thirds of the outstanding Acquiror Common Shares entitled to vote, who attend and vote thereupon (as determined in accordance with Acquiror\u2019s Governing Documents) at a shareholders\u2019 meeting duly called by the Board of Directors of Acquiror and held for such purpose and (2) those Transaction Proposals identified in clauses (D), (E), (F), (G), (H), (I), (J), and (K) of Section 8.2(b), in each case, by an affirmative vote of the holders of at least a majority of the outstanding Acquiror Common Shares entitled to vote thereupon (as determined in accordance with Acquiror\u2019s Governing Documents), in each case, at an Acquiror Shareholders\u2019 Meeting duly called by the Board of Directors of Acquiror and held for such purpose. Field: Page; Sequence: 10; Value: 2 \u201cAcquiror Shareholders\u201d means the shareholders of Acquiror as of immediately prior to the Effective Time. \u201cAcquiror Shareholders\u2019 Meeting\u201d has the meaning specified in Section 8.2(b). \u201cAcquiror Warrants\u201d means the Acquiror Common Warrants and the Acquiror Private Placement Warrants. \u201cAcquisition Proposal\u201d means, with respect to the Company and its Subsidiaries, other than the transactions contemplated hereby and other than the acquisition or disposition of Owned Residential Properties, equipment or other tangible personal property in the ordinary course of business, any offer or proposal relating to: (a) any acquisition or purchase, direct or indirect, of (i) 15% or more of the consolidated assets of the Company and its Subsidiaries or (ii) 15% or more of any class of equity or voting securities of (x) the Company or (y) one or more Subsidiaries of the Company holding assets constituting, individually or in the aggregate, 15% or more of the consolidated assets of the Company and its Subsidiaries; (b) any tender offer (including a self-tender offer) or exchange offer that, if consummated, would result in any Person beneficially owning 15% or more of any class of equity or voting securities of (i) the Company or (ii) one or more Subsidiaries of the Company holding assets constituting, individually or in the aggregate, 15% or more of the consolidated assets of the Company and its Subsidiaries; or (c) a merger, consolidation, share exchange, business combination, sale of substantially all the assets, reorganization, recapitalization, liquidation, dissolution or other similar transaction involving the sale or disposition of (i) the Company or (ii) one or more Subsidiaries of the Company holding assets constituting, individually or in the aggregate, 15% or more of the consolidated assets of the Company and its Subsidiaries. \u201cAction\u201d means any claim, action, suit, audit, examination, assessment, arbitration, mediation or inquiry, or any proceeding or investigation, by or before any Governmental Authority. \u201cAdjusted Restricted Stock Award\u201d has the meaning specified in Section 3.3(b). \u201cAdjusted Restricted Stock Unit Award\u201d has the meaning specified in Section 3.3(c). \u201cAffiliate\u201d means, with respect to any specified Person, any Person that, directly or indirectly, controls, is controlled by, or is under common control with, such specified Person, whether through one or more intermediaries or otherwise. The term \u201ccontrol\u201d (including the terms \u201ccontrolling\u201d, \u201ccontrolled by\u201d and \u201cunder common control with\u201d) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by Contract or otherwise. \u201cAffiliate Agreements\u201d has the meaning specified in Section 4.12(a)(vi). Field: Page; Sequence: 11; Value: 2 \u201cAggregate Fully Diluted Company Common Shares\u201d means, without duplication, (a) the aggregate number of shares of Company Common Stock that are (i) issued and outstanding immediately prior to the Effective Time after giving effect to the Pre-Closing Restructuring or (ii) issuable upon, or subject to, the settlement of Company Options (whether or not then vested or exercisable), Restricted Stock Awards, and Restricted Stock Unit Awards, in each case, that are outstanding immediately prior to the Effective Time, minus (b) the Treasury Shares outstanding immediately prior to the Effective Time, minus (c) a number of shares equal to the aggregate exercise price of the Company Options described in clause (ii) above divided by the Per Share Merger Consideration; provided, that any Company Option with an exercise price equal to or greater than the Per Share Merger Consideration shall not be counted for purposes of determining the number of Aggregate Fully Diluted Company Common Shares; \u201cAggregate Merger Consideration\u201d means a number of Acquiror Common Shares equal to the quotient obtained by dividing (i) the Base Purchase Price, by (ii) $10.00. \u201cAgreement\u201d has the meaning specified in the Preamble hereto. \u201cAgreement End Date\u201d has the meaning specified in Section 10.1(e). \u201cAncillary Agreements\u201d has the meaning specified in Section 12.10. \u201cAnti-Bribery Laws\u201d means the anti-bribery provisions of the Foreign Corrupt Practices Act of 1977, as amended, and all other applicable anti-corruption and bribery Laws (including the U.K. Bribery Act 2010, and any rules or regulations promulgated thereunder or other Laws of other countries implementing the OECD Convention on Combating Bribery of Foreign Officials). \u201cAntitrust Authorities\u201d means the Antitrust Division of the United States Department of Justice, the United States Federal Trade Commission or the antitrust or competition Law authorities of any other jurisdiction (whether United States, foreign or multinational). \u201cAntitrust Information or Document Request\u201d means any request or demand for the production, delivery or disclosure of documents or other evidence, or any request or demand for the production of witnesses for interviews or depositions or other oral or written testimony, by any Antitrust Authorities relating to the transactions contemplated hereby or by any third party challenging the transactions contemplated hereby, including any so called \u201csecond request\u201d for additional information or documentary material or any civil investigative demand made or issued by any Antitrust Authority or any subpoena, interrogatory or deposition. \u201cAudited Financial Statements\u201d has the meaning specified in Section 4.8(a). \u201cAvailable Acquiror Cash\u201d has the meaning specified in Section 7.2(a). \u201cBase Purchase Price\u201d means $5,000,000,000. \u201cBusiness Combination\u201d has the meaning set forth in Article 1.1 of Acquiror\u2019s Governing Documents as in effect on the date hereof. \u201cBusiness Combination Proposal\u201d means any offer, inquiry, proposal or indication of interest (whether written or oral, binding or non-binding, and other than an offer, inquiry, proposal or indication of interest with respect to the transactions contemplated hereby), relating to a Business Combination. Field: Page; Sequence: 12; Value: 2 \u201cBusiness Day\u201d means a day other than a Saturday, Sunday or other day on which commercial banks in New York, New York or Governmental Authorities in the Cayman Islands (for so long as Acquiror remains domiciled in Cayman Islands) are authorized or required by Law to close. \u201cCayman Acquiror Unit\u201d has the meaning specified in the Recitals hereto. \u201cCayman Acquiror Warrant\u201d has the meaning specified in the Recitals hereto. \u201cCayman Registrar\u201d means the Cayman Registrar under the Companies Law (2018 Revision). \u201cClosing\u201d has the meaning specified in Section 2.3(a). \u201cClosing Date\u201d has the meaning specified in Section 2.3(a). \u201cCode\u201d means the Internal Revenue Code of 1986, as amended. \u201cCommon 1 Warrants\u201d has the meaning specified in Section 4.6(b). \u201cCommon 2 Warrants\u201d has the meaning specified in Section 4.6(b). \u201cCommon 3 Warrants\u201d has the meaning specified in Section 4.6(b). \u201cCommon 4 Warrants\u201d has the meaning specified in Section 4.6(b). \u201cCommon 5 Warrants\u201d has the meaning specified in Section 4.6(b). \u201cCommon 6 Warrants\u201d has the meaning specified in Section 4.6(b). \u201cCompany\u201d has the meaning specified in the Preamble hereto. \u201cCompany Award\u201d shall mean a Company Option, a Restricted Stock Award, or a Restricted Stock Unit Award. \u201cCompany Benefit Plan\u201d has the meaning specified in Section 4.13(a). \u201cCompany Capital Stock\u201d means the shares of the Company Common Stock and the Company Preferred Stock. \u201cCompany Common Shares\u201d means shares of Company Common Stock. \u201cCompany Common Stock\u201d means the shares of common stock, par value $0.00001 per share, of the Company. Field: Page; Sequence: 13; Value: 2 \u201cCompany Common Warrants\u201d means the Common 1 Warrants, the Common 2 Warrants, the Common 3 Warrants, the Common 4 Warrants, the Common 5 Warrants and the Common 6 Warrants. \u201cCompany Cure Period\u201d has the meaning specified in Section 10.1(e). \u201cCompany Disclosure Letter\u201d has the meaning specified in the introduction to Article IV. \u201cCompany Fundamental Representations\u201d means the representations and warranties made pursuant to the first and second sentences of Section 4.1 (Company Organization), the first and second sentences of Section 4.2 (Subsidiaries), Section 4.3 (Due Authorization), Section 4.6 (Capitalization of the Company), Section 4.7 (Capitalization of Subsidiaries) and Section 4.16 (Brokers\u2019 Fees). \u201cCompany Holders Support Agreement\u201d means that certain Support Agreement, dated as of the date hereof, by and among each of the Requisite Company Stockholders, Acquiror and the Company, as amended or modified from time to time. \u201cCompany Incentive Plan\u201d means the Opendoor Labs, Inc. 2014 Stock Plan as amended from time to time. \u201cCompany Indemnified Parties\u201d has the meaning specified in Section 7.8(a). \u201cCompany Material Adverse Effect\u201d means any event, state of facts, development, circumstance, occurrence or effect (collectively, \u201cEvents\u201d) that (i) has had, or would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the business, assets, results of operations or financial condition of the Company and its Subsidiaries, taken as a whole or (ii) does or would reasonably be expected to, individually or in the aggregate, prevent the ability of the Company to consummate the Merger; provided, however, that in no event would any of the following, alone or in combination, be deemed to constitute, or be taken into account in determining whether there has been or will be, a \u201cCompany Material Adverse Effect\u201d: (a) any change in applicable Laws or GAAP or any interpretation thereof following the date of this Agreement, (b) any change in interest rates or economic, political, business or financial market conditions generally, (c) the taking of any action required by this Agreement, (d) any natural disaster (including hurricanes, storms, tornados, flooding, earthquakes, volcanic eruptions or similar occurrences), pandemic or change in climate, (e) any acts of terrorism or war, the outbreak or escalation of hostilities, geopolitical conditions, local, national or international political conditions, (f) any failure of the Company to meet any projections or forecasts (provided that clause (f) shall not prevent a determination that any Event not otherwise excluded from this definition of Company Material Adverse Effect underlying such failure to meet projections or forecasts has resulted in a Company Material Adverse Effect), (g) any Events generally applicable to the industries or markets in which the Company and its Subsidiaries operate (including increases in the cost of products, supplies, materials or other goods purchased from third party suppliers), (h) the announcement of this Agreement and consummation of the transactions contemplated hereby, including any termination of, reduction in or similar adverse impact (but in each case only to the extent attributable to such announcement or consummation) on relationships, contractual or otherwise, with any landlords, customers, suppliers, distributors, partners or employees of the Company and its Subsidiaries (it being understood that this clause (h) shall be disregarded for purposes of the representation and warranty set forth in Section 4.4 and the condition to Closing with respect thereto), (i) any matter set forth on the Company Disclosure Letter, (j) any Events to the extent actually known by those individuals set forth on Section 1.3 of the Acquiror Disclosure Letter on or prior to the date hereof, or (k) any action taken by, or at the request of, Acquiror or Merger Sub; provided, further, that any Event referred to in clauses (a), (b), (d), (e) or (g) above may be taken into account in determining if a Company Material Adverse Effect has occurred to the extent it has a disproportionate and adverse effect on the business, assets, results of operations or condition (financial or otherwise) of the Company and its Subsidiaries, taken as a whole, relative to similarly situated companies in the industry in which the Company and its Subsidiaries conduct their respective operations (which shall include the real estate and real estate technology industries generally), but only to the extent of the incremental disproportionate effect on the Company and its Subsidiaries, taken as a whole, relative to similarly situated companies in the industry in which the Company and its Subsidiaries conduct their respective operations. Field: Page; Sequence: 14; Value: 2 \u201cCompany Option\u201d means an option to purchase shares of Company Common Stock granted under the Company Incentive Plan. \u201cCompany PIPE Investor\u201d means a PIPE Investor that is (x) a holder of shares of Company Capital Stock or securities exercisable for or convertible into Company Capital Stock as of the date of this Agreement, and (y) not a SCH PIPE Investor. \u201cCompany Preferred Conversion\u201d has the meaning specified in the Recitals hereto. \u201cCompany Preferred Stock\u201d means the shares of the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series C-1 Preferred Stock, the Series D Preferred Stock, the Series D-1 Preferred Stock, the Series E Preferred Stock, the Series E-1 Preferred Stock and the Series E-2 Preferred Stock. \u201cCompany Preferred Warrants\u201d means the Series D Preferred Warrants and the Series E Preferred Warrants. \u201cCompany Registered Intellectual Property\u201d has the meaning specified in Section 4.21(a). \u201cCompany Stockholder Approvals\u201d means the approval of this Agreement and the transactions contemplated hereby, including the Merger and the transactions contemplated thereby, by the (i) affirmative vote or written consent of the holders of at least a majority of the voting power of the outstanding Company Capital Stock voting as a single class and on an as-converted basis and (ii) the affirmative vote or written consent of the holders of at least a majority of the voting power of the outstanding Company Preferred Stock, voting as a single class and on an as-converted basis, in each case, pursuant to the terms and subject to the conditions of the Company\u2019s Governing Documents and applicable Law. \u201cCompany Warrant Settlement\u201d has the meaning specified in the Recitals hereto. \u201cCompany Warrants\u201d means the Company Common Warrants and the Company Preferred Warrants. Field: Page; Sequence: 15; Value: 2 \u201cConfidentiality Agreement\u201d has the meaning specified in Section 12.10. \u201cConstituent Corporations\u201d has the meaning specified in Section 2.1(a). \u201cContracts\u201d means any legally binding contracts, agreements, subcontracts, leases, and purchase orders. \u201cCopyleft License\u201d means any license that requires, as a condition of use, modification and/or distribution of software subject to such license, that such software subject to such license, or other software incorporated into, derived from, or used or distributed with such software subject to such license (i) in the case of software, be made available or distributed in a form other than binary (e.g., source code form), (ii) be licensed for the purpose of preparing derivative works, (iii) be licensed under terms that allow the Company\u2019s or any Subsidiary of the Company\u2019s products or portions thereof or interfaces therefor to be reverse engineered, reverse assembled or disassembled (other than by operation of Law) or (iv) be redistributable at no license fee. Copyleft Licenses include the GNU General Public License, the GNU Lesser General Public License, the Mozilla Public License, the Common Development and Distribution License, the Eclipse Public License and all Creative Commons \u201csharealike\u201d licenses. \u201cD&O Indemnified Parties\u201d has the meaning specified in Section 7.8(a). \u201cDGCL\u201d has the meaning specified in the Recitals hereto. \u201cDisclosure Letter\u201d means, as applicable, the Company Disclosure Letter or the Acquiror Disclosure Letter. \u201cDissenting Shares\u201d has the meaning specified in Section 3.5. \u201cDollars\u201d or \u201c$\u201d means lawful money of the United States. \u201cDomesticated Acquiror Common Stock\u201d has the meaning specified in the Recitals hereto. \u201cDomesticated Acquiror Unit\u201d has the meaning specified in the Recitals hereto. \u201cDomesticated Acquiror Warrant\u201d has the meaning specified in the Recitals hereto. \u201cDomestication\u201d has the meaning specified in the Recitals hereto. \u201cEffective Time\u201d has the meaning specified in Section 2.3(b). \u201cEnvironmental Laws\u201d means any and all applicable Laws relating to Hazardous Materials, pollution, or the protection or management of the environment or natural resources, or protection of human health (with respect to exposure to Hazardous Materials). \u201cERISA\u201d has the meaning specified in Section 4.13(a). Field: Page; Sequence: 16; Value: 2 \u201cERISA Affiliate\u201d means any Affiliate or business, whether or not incorporated, that together with the Company would be deemed to be a \u201csingle employer\u201d within the meaning of Section 414(b), (c), (m) or (o) of the Code. \u201cESPP\u201d has the meaning specified in Section 7.1(a). \u201cExchange Act\u201d means the Securities Exchange Act of 1934, as amended. \u201cExchange Agent\u201d has the meaning specified in Section 3.2(a). \u201cExchange Ratio\u201d means the quotient obtained by dividing (a) the number of shares constituting the Aggregate Merger Consideration, by (b) the number of Aggregate Fully Diluted Company Common Shares. \u201cExcluded Employee\u201d has the meaning specified in Section 6.1(h). \u201cExport Approvals\u201d has the meaning specified in Section 4.26(a). \u201cFinancial Statements\u201d has the meaning specified in Section 4.8(a). \u201cGAAP\u201d means generally accepted accounting principles in the United States as in effect from time to time. \u201cGoverning Documents\u201d means the legal document(s) by which any Person (other than an individual) establishes its legal existence or which govern its internal affairs. For example, the \u201cGoverning Documents\u201d of a corporation are its certificate of incorporation and by-laws, the \u201cGoverning Documents\u201d of a limited partnership are its limited partnership agreement and certificate of limited partnership, the \u201cGoverning Documents\u201d of a limited liability company are its operating agreement and certificate of formation and the \u201cGoverning Documents\u201d of an exempted company are its memorandum and articles of association. \u201cGovernmental Authority\u201d means any federal, state, provincial, municipal, local or foreign government, governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court or tribunal. \u201cGovernmental Authorization\u201d has the meaning specified in Section 4.5. \u201cGovernmental Order\u201d means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by or with any Governmental Authority. \u201cHazardous Material\u201d means any (i) pollutant, contaminant, chemical, (ii) industrial, solid, liquid or gaseous toxic or hazardous substance, material or waste, (iii) petroleum or any fraction or product thereof, (iv) asbestos or asbestos-containing material, (v) polychlorinated biphenyl, (vi) chlorofluorocarbons, and (vii) other substance, material or waste, in each case, which are regulated under any Environmental Law or as to which liability may be imposed pursuant to Environmental Law. Field: Page; Sequence: 17; Value: 2 \u201cHSR Act\u201d means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder. \u201cIncentive Equity Plan\u201d has the meaning specified in Section 7.1(a). \u201cIndebtedness\u201d means with respect to any Person, without duplication, any obligations, contingent or otherwise, in respect of (a) the principal of and premium (if any) in respect of all indebtedness for borrowed money, including accrued interest and any per diem interest accruals, (b) the principal and interest components of capitalized lease obligations under GAAP, (c) amounts drawn (including any accrued and unpaid interest) on letters of credit, bank guarantees, bankers\u2019 acceptances and other similar instruments (solely to the extent such amounts have actually been drawn), (d) the principal of and premium (if any) in respect of obligations evidenced by bonds, debentures, notes and similar instruments, (e) the termination value of interest rate protection agreements and currency obligation swaps, hedges or similar arrangements (without duplication of other indebtedness supported or guaranteed thereby), (f) the principal component of all obligations to pay the deferred and unpaid purchase price of property and equipment which have been delivered, including \u201cearn outs\u201d and \u201cseller notes\u201d and (g) breakage costs, prepayment or early termination premiums, penalties, or other fees or expenses payable as a result of the consummation of the transactions contemplated hereby in respect of any of the items in the foregoing clauses (a) through (f), and (h) all Indebtedness of another Person referred to in clauses (a) through (g) above guaranteed directly or indirectly, jointly or severally. \u201cIntellectual Property\u201d means any rights in or to the following, throughout the world, including all U.S. and foreign: (i) patents, patent applications, invention disclosures, and all related continuations, continuations-in-part, divisionals, reissues, re-examinations, substitutions, and extensions thereof; (ii) registered and unregistered trademarks, logos, service marks, trade dress and trade names, slogans, pending applications therefor, and internet domain names, together with the goodwill of the Company or any of its Subsidiaries or their respective businesses symbolized by or associated with any of the foregoing; (iii) registered and unregistered copyrights, and applications for registration of copyright, including such corresponding rights in software and other works of authorship; and (iv) trade secrets, know-how, processes, and other confidential information or proprietary rights. \u201cInterim Period\u201d has the meaning specified in Section 6.1. \u201cInternational Trade Laws\u201d means all Laws relating to the import, export, re-export, deemed export, deemed re-export, or transfer of information, data, goods, and technology, including but not limited to the Export Administration Regulations administered by the United States Department of Commerce, the International Traffic in Arms Regulations administered by the United States Department of State, customs and import Laws administered by United States Customs and Border Protection, any other export or import controls administered by an agency of the United States government, the anti-boycott regulations administered by the United States Department of Commerce and the United States Department of the Treasury, and other Laws adopted by Governmental Authorities of other countries relating to the same subject matter as the United States Laws described above. Field: Page; Sequence: 18; Value: 2 \u201cInventory Financing Documents\u201d means any instruments or agreements pursuant to which the Company or any of its Subsidiaries is a borrower or guarantor for purposes of financing Mortgage Loans or the acquisition of Owned Residential Properties, together with all transaction documents related thereto. \u201cInvestment Company Act\u201d means the Investment Company Act of 1940, as amended. \u201cIRS\u201d means Internal Revenue Service. \u201cJOBS Act\u201d has the meaning specified in Section 5.6(a). \u201cLatham\u201d has the meaning specified in Section 12.18(b). \u201cLaw\u201d means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority. \u201cLeased Real Property\u201d means all real property leased, licensed, subleased or otherwise used or occupied by the Company or any of its Subsidiaries. \u201cLegal Proceedings\u201d has the meaning specified in Section 4.10. \u201cLetter of Transmittal\u201d has the meaning specified in Section 3.2(b). \u201cLicenses\u201d means any approvals, authorizations, consents, licenses, registrations, permits or certificates of a Governmental Authority (other than any work permits for construction, maintenance, inspection, survey or other site-specific work on the Owned Residential Properties). \u201cLien\u201d means all liens, mortgages, deeds of trust, pledges, hypothecations, encumbrances, security interests, adverse claim, options, restrictions, claims or other liens of any kind whether consensual, statutory or otherwise. \u201cMajor Company Stockholder\u201d means each of the holders of Company Capital Stock set forth on Section 8.2(a)(v) of the Company Disclosure Letter. \u201cManagement Grants\u201d has the meaning specified in Section 7.1(a). \u201cMerger\u201d has the meaning specified in the Recitals hereto. \u201cMerger Certificate\u201d has the meaning specified in Section 2.1(a). \u201cMerger Sub\u201d has the meaning specified in the Preamble hereto. \u201cMerger Sub Capital Stock\u201d means the shares of the common stock, par value $0.0001 per share, of Merger Sub. \u201cMinimum Available Acquiror Cash Amount\u201d has the meaning specified in Section 7.2(a). \u201cMinimum PIPE Investment Amount\u201d has the meaning specified in Section 5.12(e). Field: Page; Sequence: 19; Value: 2 \u201cModification in Recommendation\u201d has the meaning specified in Section 8.2(b). \u201cMortgage Loans\u201d means all loans or other extensions of credit as well as legally binding commitments and obligations to extend credit to consumers made by the Company or a Subsidiary of the Company to finance or refinance the purchase of real estate in the ordinary course of the Company\u2019s business, together with all Contracts evidencing or executed and delivered in connection with such loans and including all obligations to make additional extensions of credit thereunder and all related collateral. \u201cMultiemployer Plan\u201d has the meaning specified in Section 4.13(c). \u201cNasdaq\u201d has the meaning specified in Section 7.3. \u201cNYSE\u201d has the meaning specified in Section 5.6(c). \u201cOffer Documents\u201d has the meaning specified in Section 8.2(a)(i). \u201cOpen Source License\u201d means any license meeting the Open Source Definition (as promulgated by the Open Source Initiative) or the Free Software Definition (as promulgated by the Free Software Foundation), or any substantially similar license, including any license approved by the Open Source Initiative or any Creative Commons License. \u201cOpen Source Licenses\u201d shall include Copyleft Licenses. \u201cOpen Source Materials\u201d means any software subject to an Open Source License. \u201cOpendoor Group\u201d has the meaning specified in Section 12.18(b). \u201cOwned Real Property\u201d means all real property owned in fee simple by the Companies or any of their Subsidiaries other than the Owned Residential Properties. \u201cOwned Residential Properties\u201d means the residential properties acquired from time to time by the Company or its Subsidiaries for purpose of re-sale, including any residential properties which are owned by the Company or its Subsidiaries as of the date hereof. \u201cPer Share Merger Consideration\u201d means the product obtained by multiplying (i) the Exchange Ratio by (ii) $10.00. Field: Page; Sequence: 20; Value: 2 \u201cPermitted Liens\u201d means (i) mechanic\u2019s, materialmen\u2019s and similar Liens arising in the ordinary course of business with respect to any amounts (A) not yet due and payable or which are being contested in good faith through appropriate proceedings and (B) for which adequate accruals or reserves have been established in accordance with GAAP, (ii) Liens for Taxes (A) not yet due and payable or (B) which are being contested in good faith through appropriate proceedings and for which adequate accruals or reserves have been established in accordance with GAAP, (iii) defects or imperfections of title, easements, encroachments, covenants, rights-of-way, conditions, matters that would be apparent from a physical inspection or current, accurate survey of such real property, restrictions and other similar charges or encumbrances that do not, in the aggregate, materially impair the value or materially interfere with the present use of the Owned Real Property, Owned Residential Properties or Leased Real Property, (iv) with respect to any Leased Real Property (A) the interests and rights of the respective lessors with respect thereto, including any statutory landlord liens and any Lien thereon, (B) any Lien permitted under a Real Property Lease, and (C) any Liens encumbering the underlying fee title of the real property of which the Leased Real Property is a part, (v) zoning, building, entitlement and other land use and environmental regulations promulgated by any Governmental Authority that do not, in the aggregate, materially interfere with the current use of, or materially impair the value of, the Owned Real Property, the Owned Residential Properties or Leased Real Property, (vi) non-exclusive licenses of Intellectual Property entered into in the ordinary course of business consistent with past practice, (vii) ordinary course purchase money Liens and Liens securing rental payments under operating or capital lease arrangements for amounts not yet due or payable, (viii) other Liens arising in the ordinary course of business and not incurred in connection with the borrowing of money in connection with workers\u2019 compensation, unemployment insurance or other types of social security, (ix) reversionary rights in favor of landlords under any Real Property Leases with respect to any of the buildings or other improvements owned by the Company or any of its Subsidiaries, (x) Liens granted under the Inventory Financing Documents, (xi) with respect to the Owned Residential Properties, any Lien granted to a customer in the ordinary course of business of the Company or its Subsidiaries, in connection with such customer\u2019s sale or acquisition of an individual Owned Residential Property, and (xii) Liens that do not, individually or in the aggregate, materially and adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries, taken as a whole. \u201cPerson\u201d means any individual, firm, corporation, partnership, limited liability company, incorporated or unincorporated association, joint venture, joint stock company, Governmental Authority or instrumentality or other entity of any kind. \u201cPIPE Investment\u201d means the purchase of shares of Domesticated Acquiror Common Stock pursuant to the Subscription Agreements. \u201cPIPE Investment Amount\u201d means the aggregate gross purchase price received by Acquiror prior to or substantially concurrently with Closing for the shares in the PIPE Investment. \u201cPIPE Investors\u201d means those certain investors participating in the PIPE Investment pursuant to the Subscription Agreements. \u201cPre-Closing Restructuring\u201d has the meaning specified in Section 6.5 of the Company Disclosure Letter. \u201cPre-Closing Restructuring Plan\u201d has the meaning specified in Section 6.5. \u201cProspectus\u201d has the meaning specified in Section 12.1. \u201cProxy Statement\u201d has the meaning specified in Section 8.2(a)(i). \u201cProxy Statement/Registration Statement\u201d has the meaning specified in Section 8.2(a)(i). \u201cQ3 Financial Statements\u201d has the meaning specified in Section 6.3(c). \u201cR&W Insurance Policy\u201d has the meaning specified in Section 11.1(a). Field: Page; Sequence: 21; Value: 2 Field: Split-Segment; Name: 3 \u201cReal Property Leases\u201d has the meaning specified in Section 4.20(a)(ii). \u201cRegistration Rights Agreement\u201d has the meaning specified in the Recitals hereto. \u201cRegistration Statement\u201d means the Registration Statement on Form S-4, or other appropriate form, including any pre-effective or post-effective amendments or supplements thereto, to be filed with the SEC by Acquiror under the Securities Act with respect to the Registration Statement Securities. \u201cRegistration Statement Securities\u201d has the meaning specified in Section 8.2(a)(i). \u201cRequisite Company Stockholders\u201d means each of the holders of Company Capital Stock set forth on Section 8.2(c) of the Company Disclosure Letter. \u201cRestricted Stock Award\u201d means an award of restricted shares of Company Common Stock granted under the Company Incentive Plan, which includes any shares of Company Common Stock issued pursuant to early-exercised Company Options that remain subject to vesting conditions. \u201cRestricted Stock Unit Award\u201d means an award of restricted stock units based on shares of Company Common Stock (whether to be settled in cash or shares), granted under the Company Incentive Plan. \u201cSanctioned Country\u201d means at any time, a country or territory which is itself the subject or target of any country-wide or territory-wide Sanctions Laws (at the time of this Agreement, the Crimea region, Cuba, Iran, North Korea and Syria). \u201cSanctioned Person\u201d means (i) any Person identified in any sanctions-related list of designated Persons maintained by (a) the United States Department of the Treasury\u2019s Office of Foreign Assets Control, the United States Department of Commerce, Bureau of Industry and Security, or the United States Department of State; (b) Her Majesty\u2019s Treasury of the United Kingdom; (c) any committee of the United Nations Security Council; or (d) the European Union; (ii) any Person located, organized, or resident in, organized in, or a Governmental Authority or government instrumentality of, any Sanctioned Country; and (iii) any Person directly or indirectly owned or controlled by, or acting for the benefit or on behalf of, a Person described in clause (i) or (ii), either individually or in the aggregate. \u201cSanctions Laws\u201d means those trade, economic and financial sanctions Laws administered, enacted or enforced from time to time by (i) the United States (including the Department of the Treasury\u2019s Office of Foreign Assets Control), (ii) the European Union and enforced by its member states, (iii) the United Nations, or (iv) Her Majesty\u2019s Treasury of the United Kingdom. \u201cSarbanes-Oxley Act\u201d means the Sarbanes-Oxley Act of 2002. \u201cSCH Group\u201d has the meaning specified in Section 12.18(a). \u201cSCH PIPE Investor\u201d means a PIPE Investor that is set forth on Annex I to Section 5.12(e) of the Acquiror Disclosure Letter or an Affiliate of any such PIPE Investor to whom the applicable Subscription Agreement with such PIPE Investor is assigned in accordance with its terms after the date of this Agreement. Field: Page; Sequence: 22; Options: NewSection; Value: 16 \u201cSCH Representative\u201d has the meaning specific in Section 7.6(a)(ii). \u201cSEC\u201d means the United States Securities and Exchange Commission. \u201cSecurities Act\u201d means the Securities Act of 1933, as amended. \u201cSeries A Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries B Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries C-1 Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries C Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries D-1 Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries D Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries D Preferred Warrants\u201d has the meaning specified in Section 4.6(b). \u201cSeries E-1 Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries E-2 Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries E Preferred Stock\u201d has the meaning specified in Section 4.6(a). \u201cSeries E Preferred Warrants\u201d has the meaning specified in Section 4.6(b). \u201cShelf Registration\u201d has the meaning set forth in Section 1.1 of the Registration Rights Agreement. \u201cSkadden\u201d has the meaning specified in Section 12.18(a). \u201cSponsor\u201d means SCH Sponsor II LLC, a Cayman Islands limited liability company. \u201cSponsor Support Agreement\u201d means that certain Support Agreement, dated as of the date hereof, by and among the Sponsor, Acquiror and the Company, as amended or modified from time to time. \u201cSubscription Agreements\u201d means the subscription agreements pursuant to which the PIPE Investment will be consummated. \u201cSubsidiary\u201d means, with respect to a Person, a corporation or other entity of which more than 50% of the voting power of the equity securities or equity interests is owned, directly or indirectly, by such Person. Field: Page; Sequence: 23; Value: 16 \u201cSurviving Corporation\u201d has the meaning specified in Section 2.1(b). \u201cTax Return\u201d means any return, declaration, report, statement, information statement or other document filed or required to be filed with any Governmental Authority with respect to Taxes, including any claims for refunds of Taxes, any information returns and any schedules, attachments, amendments or supplements of any of the foregoing. \u201cTaxes\u201d means any and all federal, state, local, foreign or other taxes imposed by any Governmental Authority, including all income, gross receipts, license, payroll, recapture, net worth, employment, escheat and unclaimed property obligations, excise, severance, stamp, occupation, premium, windfall profits, environmental, customs duties, capital stock, ad valorem, value added, inventory, franchise, profits, withholding, social security (or similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, governmental charges, duties, levies and other similar charges imposed by a Governmental Authority in the nature of a tax, alternative or add-on minimum, or estimated taxes, and including any interest, penalty, or addition thereto. \u201cTerminating Acquiror Breach\u201d has the meaning specified in Section 10.1(g). \u201cTerminating Company Breach\u201d has the meaning specified in Section 10.1(e). \u201cThird-Party PIPE Investment Amount\u201d means the aggregate gross purchase price for all of the shares in the PIPE Investment that are to be purchased by a Third-Party PIPE Investor. \u201cThird-Party PIPE Investor\u201d means any PIPE Investor that is not (i) a SCH PIPE Investor or the Sponsor, or (ii) a Company PIPE Investor. \u201cTitle IV Plan\u201d has the meaning specified in Section 4.13(c). \u201cTop Vendors\u201d has the meaning specified in Section 4.28(a). \u201cTransaction Expenses\u201d means the following out-of-pocket fees and expenses paid or payable by the Company or any of its Subsidiaries (whether or not billed or accrued for) as a result of or in connection with the negotiation, documentation and consummation of the transactions contemplated hereby: (i) all fees, costs, expenses, brokerage fees, commissions, finders\u2019 fees and disbursements of financial advisors, investment banks, data room administrators, attorneys, accountants and other advisors and service providers, (ii) change-in-control payments, transaction bonuses, retention payments, severance or similar compensatory payments payable by the Company or any of its Subsidiaries to any current or former employee (including any amounts due under any consulting agreement with any such former employee), independent contractor, officer, or director of the Company or any of its Subsidiaries as a result of the transactions contemplated hereby (and not tied to any subsequent event or condition, such as a termination of employment), including the employer portion of payroll Taxes arising therefrom, (iii) Transfer Taxes (other than any amounts constituting Transfer Taxes arising as result of the Pre-Closing Restructuring), (iv) any and all filing fees payable by the Company or any of its Subsidiaries to the Antitrust Authorities in connection with the transactions contemplated hereby, and (v) amounts owing or that may become owed, payable or otherwise due, directly or indirectly, by the Company or any of its Subsidiaries to any Affiliate of the Company or any of its Subsidiaries in connection with the consummation of the transactions contemplated hereby, including fees, costs and expenses related to the termination of any Affiliate Agreement. Field: Page; Sequence: 24; Value: 16 \u201cTransaction Proposals\u201d has the meaning specified in Section 8.2(b). \u201cTransfer Taxes\u201d has the meaning specified in Section 8.4. \u201cTreasury Regulations\u201d means the regulations promulgated under the Code by the United States Department of the Treasury (whether in final, proposed or temporary form), as the same may be amended from time to time. \u201cTreasury Share\u201d has the meaning specified in Section 3.1(a) \u201cTrust Account\u201d has the meaning specified in Section 12.1. \u201cTrust Agreement\u201d has the meaning specified in Section 5.8. \u201cTrust Amount\u201d has the meaning specified in Section 7.2(a). \u201cTrustee\u201d has the meaning specified in Section 5.8. \u201cUnpaid Transaction Expenses\u201d has the meaning specified in Section 2.4(c). \u201cUpdated Financial Statements\u201d has the meaning specified in Section 6.3(a). \u201cWarrant Agreement\u201d means the Warrant Agreement, dated as of April 27, 2020, between Acquiror and Continental Stock Transfer & Trust Company. \u201cWorking Capital Loans\u201d means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror\u2019s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination. \u201cWritten Consent\u201d has the meaning specified in Section 8.2(c). Section 1.2. Construction. (a) Unless the context of this Agreement otherwise requires, (i) words of any gender include each other gender; (ii) words using the singular or plural number also include the plural or singular number, respectively; (iii) the terms \u201chereof,\u201d \u201cherein,\u201d \u201chereby,\u201d \u201chereto\u201d and derivative or similar words refer to this entire Agreement; (iv) the terms \u201cArticle\u201d or \u201cSection\u201d refer to the specified Article or Section of this Agreement; (v) the word \u201cincluding\u201d shall mean \u201cincluding, without limitation\u201d and (vi) the word \u201cor\u201d shall be disjunctive but not exclusive. (b) Unless the context of this Agreement otherwise requires, references to statutes shall include all regulations promulgated thereunder and references to statutes or regulations shall be construed as including all statutory and regulatory provisions consolidating, amending or replacing the statute or regulation. Field: Page; Sequence: 25; Value: 16 (c) Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified. (d) All accounting terms used herein and not expressly defined herein shall have the meanings given to them under GAAP. (e) The term \u201cactual fraud\u201d means, with respect to a party to this Agreement, an actual and intentional fraud with respect to the making of the representations and warranties pursuant to Article IV or Article V (as applicable), provided, that such actual and intentional fraud of such Person shall only be deemed to exist if any of the individuals included on Section 1.3 of the Company Disclosure Letter (in the case of the Company) or Section 1.3 of the Acquiror Disclosure Letter (in the case of Acquiror) had actual knowledge (as opposed to imputed or constructive knowledge) that the representations and warranties made by such Person pursuant to, in the case of the Company, Article IV as qualified by the Company Disclosure Letter, or, in the case of Acquiror, Article V as qualified by the Acquiror Disclosure Letter, were actually breached when made, with the express intention that the other party to this Agreement rely thereon to its detriment. (f) All references to the \u201cwholly owned Subsidiaries\u201d or any \u201cwholly owned Subsidiary\u201d of the Company shall be deemed to include Opendoor Property Acquisition Fund LP and Opendoor Property Trust I. Section 1.3. Knowledge. As used herein, (i) the phrase \u201cto the knowledge\u201d of the Company shall mean the knowledge of the individuals identified on Section 1.3 of the Company Disclosure Letter and (ii) the phrase \u201cto the knowledge\u201d of Acquiror shall mean the knowledge of the individuals identified on Section 1.3 of the Acquiror Disclosure Letter, in each case, as such individuals would have acquired in the exercise of a reasonable inquiry of direct reports." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b55", + "block_sequence": 55, + "block_sha256": "5662f0fc6f6ddedccac9469f18b968c59aebf0ee6ebb830f210b515bc7f5d415", + "block_type": "page_number", + "char_count": 62, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 55, + "char_end": 62, + "char_start": 0, + "fragment_sha256": "fcb5a7d84017e9445cc5cf894f96835fe936c40b5d07a2223f08f3659aeba2ff", + "heading_path": [ + "TABLE OF CONTENTS", + "CERTAIN DEFINITIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", + "table": null, + "text": "Field: Sequence; 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CLOSING" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s25", + "table": null, + "text": "THE MERGER; CLOSING" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b91", + "block_sequence": 91, + "block_sha256": "74a1a569075f2e84701d96b0e8016f2f31efe53bcfdaa40db71823a186cb3423", + "block_type": "paragraph", + "char_count": 10918, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 91, + "char_end": 10918, + "char_start": 0, + "fragment_sha256": "8c3df88fb78ac7ad289835cd1bae912c3f7f934d10a987a706f6a1060c722c94", + "heading_path": [ + "TABLE OF CONTENTS", + "THE MERGER; CLOSING" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s25", + "table": null, + "text": "Section 2.1. The Merger. (a) Upon the terms and subject to the conditions set forth in this Agreement, and following the Domestication, Acquiror, Merger Sub and the Company (Merger Sub and the Company sometimes being referred to herein as the \u201cConstituent Corporations\u201d) shall cause Merger Sub to be merged with and into the Company, with the Company being the surviving corporation in the Merger. The Merger shall be consummated in accordance with this Agreement and shall be evidenced by a certificate of merger with respect to the Merger (as so filed, the \u201cMerger Certificate\u201d), executed by the Constituent Corporations in accordance with the relevant provisions of the DGCL, such Merger to be effective as of the Effective Time. (b) Upon consummation of the Merger, the separate corporate existence of Merger Sub shall cease and the Company, as the surviving corporation of the Merger (hereinafter referred to for the periods at and after the Effective Time as the \u201cSurviving Corporation\u201d), shall continue its corporate existence under the DGCL, as a wholly owned subsidiary of Acquiror. Field: Page; Sequence: 26; Value: 16 Section 2.2. Effects of the Merger. At and after the Effective Time, the Surviving Corporation shall thereupon and thereafter possess all of the rights, privileges, powers and franchises, of a public as well as a private nature, of the Constituent Corporations, and shall become subject to all the restrictions, disabilities and duties of each of the Constituent Corporations; and all rights, privileges, powers and franchises of each Constituent Corporation, and all property, real, personal and mixed, and all debts due to each such Constituent Corporation, on whatever account, shall become vested in the Surviving Corporation; and all property, rights, privileges, powers and franchises, and all and every other interest shall become thereafter the property of the Surviving Corporation as they are of the Constituent Corporations; and the title to any real property vested by deed or otherwise or any other interest in real estate vested by any instrument or otherwise in either of such Constituent Corporations shall not revert or become in any way impaired by reason of the Merger; but all Liens upon any property of a Constituent Corporation shall thereafter attach to the Surviving Corporation and shall be enforceable against it to the same extent as if said debts, liabilities and duties had been incurred or contracted by it; all of the foregoing in accordance with the applicable provisions of the DGCL. Section 2.3. Closing; Effective Time. (a) In accordance with the terms and subject to the conditions of this Agreement, the closing of the Merger (the \u201cClosing\u201d) shall take place at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, One Manhattan West, New York, New York 10001, at 10:00 a.m. (New York time) on the date which is two (2) Business Days after the first date on which all conditions set forth in Article IX shall have been satisfied or waived (other than those conditions that by their terms are to be satisfied at the Closing, but subject to the satisfaction or waiver thereof) or such other time and place as Acquiror and the Company may mutually agree in writing. The date on which the Closing actually occurs is referred to in this Agreement as the \u201cClosing Date\u201d. (b) Subject to the satisfaction or waiver of all of the conditions set forth in Article IX of this Agreement, and provided this Agreement has not theretofore been terminated pursuant to its terms, Acquiror, Merger Sub, and the Company shall cause the Merger Certificate to be executed and duly submitted for filing with the Secretary of State of the State of Delaware in accordance with the applicable provisions of the DGCL. The Merger shall become effective at the time when the Merger Certificate has been accepted for filing by the Secretary of State of the State of Delaware, or at such later time as may be agreed by Acquiror and the Company in writing and specified in each of the Merger Certificate (the \u201cEffective Time\u201d). (c) For the avoidance of doubt, the Closing and the Effective Time shall occur after the completion of the Domestication. Section 2.4. Closing Deliverables. (a) At the Closing, the Company will deliver or cause to be delivered: (i) to Acquiror, a certificate signed by an officer of the Company, dated as of the Closing Date, certifying that, to the knowledge and belief of such officer, the conditions specified in Section 9.2(a) and Section 9.2(b) have been fulfilled; Field: Page; Sequence: 27; Value: 16 (ii) to Acquiror, the written resignations of all of the directors of the Company (other than any such Persons identified as initial directors of the Surviving Corporation, in accordance with Section 2.6), effective as of the Effective Time; (iii) to Acquiror, the Registration Rights Agreement, duly executed by the Major Company Stockholders who have elected to execute the Registration Rights Agreement; and (iv) to Acquiror, a certificate on behalf of the Company, prepared in a manner consistent and in accordance with the requirements of Treasury Regulation Sections 1.897-2(g), (h) and 1.1445-2(c)(3), certifying that no interest in the Company is, or has been during the relevant period specified in Section 897(c)(1)(A)(ii) of the Code, a \u201cU.S. real property interest\u201d within the meaning of Section 897(c) of the Code, and a form of notice to the Internal Revenue Service prepared in accordance with the provisions of Treasury Regulations Section 1.897-2(h)(2). (b) At the Closing, Acquiror will deliver or cause to be delivered: (i) to the Exchange Agent, the Aggregate Merger Consideration for further distribution to the Company\u2019s stockholders pursuant to Section 3.2; (ii) to the Company, a certificate signed by an officer of Acquiror, dated the Closing Date, certifying that, to the knowledge and belief of such officer, the conditions specified in Section 9.3(a) and Section 9.3(b) have been fulfilled; (iii) to the Company, the Registration Rights Agreement, duly executed by duly authorized representatives of Acquiror and the Sponsor; and (iv) to the Company, the written resignations of all of the directors and officers of Acquiror and Merger Sub (other than those Persons identified as the initial directors and officers, respectively, of Acquiror after the Effective Time, in accordance with the provisions of Section 2.6 and Section 7.6), effective as of the Effective Time. (c) On the Closing Date, concurrently with the Effective Time, Acquiror shall pay or cause to be paid by wire transfer of immediately available funds, (i) all accrued transaction expenses of Acquiror and those incurred, accrued, paid or payable by Acquiror\u2019s Affiliates on Acquiror\u2019s behalf (which shall include any outstanding amounts under any Working Capital Loans) as set forth on a written statement to be delivered to the Company not less than two (2) Business Days prior to the Closing Date and (ii) all accrued and unpaid Transaction Expenses (\u201cUnpaid Transaction Expenses\u201d) as set forth on a written statement to be delivered to Acquiror by or on behalf of the Company not less than two (2) Business Days prior to the Closing Date, which shall include the respective amounts and wire transfer instructions for the payment thereof, together with corresponding invoices for the foregoing; provided, that any Unpaid Transaction Expenses due to current or former employees, independent contractors, officers, or directors of the Company or any of its Subsidiaries shall be paid to the Company for further payment to such employee, independent contractor, officer or director through the Company\u2019s payroll. Field: Page; Sequence: 28; Value: 16 Section 2.5. Governing Documents. (a) The certificate of incorporation and bylaws of the Company in effect immediately prior to the Effective Time, shall be the certificate of incorporation and bylaws of the Surviving Corporation until thereafter amended as provided therein and under the DGCL. (b) The certificate of incorporation and bylaws of Acquiror as of immediately prior to the Effective Time (which shall be in the form attached as Exhibits A and B hereto (with such changes as may be agreed in writing by Acquiror and the Company) upon effectiveness of the Domestication), shall be the certificate of incorporation and bylaws of Acquiror from and after the Effective Time, until thereafter amended as provided therein and under the DGCL. Section 2.6. Directors and Officers. (a) The (i) officers of the Company as of immediately prior to the Effective Time, shall be the officers of the Surviving Corporation from and after the Effective Time, and (ii) the directors of Acquiror as of immediately after the Effective Time shall be the directors of the Surviving Corporation from and after the Effective Time, in each case, each to hold office in accordance with the Governing Documents of the Surviving Corporation. (b) The parties shall take all actions necessary to ensure that, from and after the Effective Time, the Persons identified as the initial post-Closing directors and officers of Acquiror in accordance with the provisions of Section 7.6 shall be the directors and officers (and in the case of such officers, holding such positions as are set forth on Section 2.6(b) of the Company Disclosure Letter), respectively, of Acquiror, each to hold office in accordance with the Governing Documents of Acquiror. Section 2.7. Tax Free Reorganization Matters. The parties intend that, for United States federal income tax purposes, the Merger will qualify as a \u201creorganization\u201d within the meaning of Section 368(a) of the Code and the Treasury Regulations to which each of Acquiror and the Company are to be parties under Section 368(b) of the Code and the Treasury Regulations and this Agreement is intended to be, and is adopted as, a plan of reorganization for purposes of Sections 354, 361 and the 368 of the Code and within the meaning of Treasury Regulations Section 1.368-2(g). None of the parties knows of any fact or circumstance (without conducting independent inquiry or diligence of the other relevant party), or has taken or will take any action, if such fact, circumstance or action would be reasonably expected to cause the Merger to fail to qualify as a reorganization within the meaning of Section 368(a) of the Code and the Treasury Regulations. The Merger shall be reported by the parties for all Tax purposes in accordance with the foregoing, unless otherwise required by a Governmental Authority as a result of a \u201cdetermination\u201d within the meaning of Section 1313(a) of the Code. The parties shall cooperate with each other and their respective counsel to document and support the Tax treatment of the Merger as a \u201creorganization\u201d within the meaning of Section 368(a) of the Code, including providing factual support letters. 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Conversion of Securities. (a) At the Effective Time (after giving effect to the consummation of the Pre-Closing Restructuring), by virtue of the Merger and without any action on the part of any holder of Company Common Stock, each share of Company Common Stock, in each case, that is issued and outstanding immediately prior to the Effective Time (other than (i) any shares of Company Common Stock subject to Company Awards (which shall be respectively subject to Section 3.3), (ii) any shares of Company Common Stock held in the treasury of the Company, which treasury shares shall be canceled as part of the Merger and shall not constitute \u201cCompany Capital Stock\u201d hereunder (each such share, a \u201cTreasury Share\u201d), and (iii) any shares of Company Common Stock held by stockholders of the Company who have perfected and not withdrawn a demand for appraisal rights pursuant to the applicable provisions of the DGCL), shall be canceled and converted into the right to receive the applicable portion of the Aggregate Merger Consideration as determined pursuant to Section 3.1(c). (b) At the Effective Time, by virtue of the Merger and without any action on the part of Acquiror or Merger Sub, each share of Merger Sub Capital Stock, shall be converted into a share of common stock, par value $0.0001 of the Surviving Corporation. (c) Each holder of shares of Company Common Stock (after giving effect to the consummation of the Pre-Closing Restructuring) as of immediately prior to the Effective Time (other than in respect of (x) Treasury Shares, (y) Dissenting Shares, and (z) any shares of Company Common Stock subject to Company Awards (which shall be subject to Section 3.3)) shall be entitled to receive a portion of the Aggregate Merger Consideration equal to (i) the Exchange Ratio, multiplied by (ii) the number of shares of Company Common Stock held by such holder as of immediately prior to the Effective Time, with fractional shares rounded down to the nearest whole share. (d) Notwithstanding anything in this Agreement to the contrary, no fractional shares of Acquiror Common Stock shall be issued in the Merger. Section 3.2. Exchange Procedures (a) Prior to the Closing, Acquiror shall appoint an exchange agent (the \u201cExchange Agent\u201d) to act as the agent for the purpose of paying the Aggregate Merger Consideration to the Company\u2019s stockholders. At or before the Effective Time, Acquiror shall deposit with the Exchange Agent the number of shares of Acquiror Common Stock equal to the portion of the Aggregate Merger Consideration to be paid in shares of Acquiror Common Stock. (b) Reasonably promptly after the Effective Time, Acquiror shall send or shall cause the Exchange Agent to send, to each record holder of shares of Company Common Stock as of immediately prior to the Effective Time, whose Company Common Stock was converted pursuant to Section 3.1(a) into the right to receive a portion of the Aggregate Merger Consideration, a letter of transmittal and instructions (which shall specify that the delivery shall be effected, and the risk of loss and title shall pass, only upon proper transfer of each share to the Exchange Agent, and which letter of transmittal will be in customary form and have such other provisions as Acquiror may reasonably specify) for use in such exchange (each, a \u201cLetter of Transmittal\u201d). Field: Page; Sequence: 30; Value: 16 (c) Each holder of shares of Company Common Stock that have been converted into the right to receive a portion of the Aggregate Merger Consideration, pursuant to Section 3.1(a), shall be entitled to receive such portion of the Aggregate Merger Consideration, upon receipt of an \u201cagent\u2019s message\u201d by the Exchange Agent (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request), together with a duly completed and validly executed Letter of Transmittal and such other documents as may reasonably be requested by the Exchange Agent. No interest shall be paid or accrued upon the transfer of any share. (d) Promptly following the date that is one (1) year after the Effective Time, Acquiror shall instruct the Exchange Agent to deliver to Acquiror all documents in its possession relating to the transactions contemplated hereby, and the Exchange Agent\u2019s duties shall terminate. Thereafter, any portion of the Aggregate Merger Consideration that remains unclaimed shall be returned to Acquiror, and any Person that was a holder of shares of Company Common Stock as of immediately prior to the Effective Time that has not exchanged such shares of Company Common Stock for an applicable portion of the Aggregate Merger Consideration in accordance with this Section 3.2 prior to the date that is one (1) year after the Effective Time, may transfer such shares of Company Common Stock to Acquiror and (subject to applicable abandoned property, escheat and similar Laws) receive in consideration therefor, and Acquiror shall promptly deliver, such applicable portion of the Aggregate Merger Consideration without any interest thereupon. None of Acquiror, Merger Sub, the Company, the Surviving Corporation or the Exchange Agent shall be liable to any Person in respect of any of the Aggregate Merger Consideration delivered to a public official pursuant to and in accordance with any applicable abandoned property, escheat or similar Laws. If any such shares shall not have not been transferred immediately prior to such date on which any amounts payable pursuant to this Article III would otherwise escheat to or become the property of any Governmental Authority, any such amounts shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation, free and clear of all claims or interest of any Person previously entitled thereto. Section 3.3. Treatment of Company Options, Restricted Stock Awards and Restricted Stock Unit Awards. (a) As of the Effective Time, each Company Option that is then outstanding shall be converted into the right to receive, an option relating to shares of Domesticated Acquiror Common Stock upon substantially the same terms and conditions as are in effect with respect to such option immediately prior to the Effective Time, including with respect to vesting and termination-related provisions (each, an \u201cAcquiror Option\u201d) except that (a) such Acquiror Option shall relate to that whole number of shares of Domesticated Acquiror Common Stock (rounded down to the nearest whole share) equal to the number of Company Common Shares subject to such Company Option, multiplied by the Exchange Ratio, and (b) the exercise price per share for each such Acquiror Option shall be equal to the exercise price per share of such Company Option in effect immediately prior to the Effective Time, divided by the Exchange Ratio (the exercise price per share, as so determined, being rounded up to the nearest full cent); provided, however, that the conversion of the Company Options will be made in a manner consistent with Treasury Regulation Section 1.424-1, such that such conversion will not constitute a \u201cmodification\u201d of such Company Options for purposes of Section 409A or Section 424 of the Code. Field: Page; Sequence: 31; Value: 16 (b) As of the Effective Time, each Restricted Stock Award that is outstanding immediately prior to the Effective Time shall be converted into the right to receive, restricted shares of Domesticated Acquiror Common Stock (each, an \u201cAdjusted Restricted Stock Award\u201d) with substantially the same terms and conditions as were applicable to such Restricted Stock Award immediately prior to the Effective Time (including with respect to vesting and termination-related provisions), except that such Adjusted Restricted Stock Award shall relate to such number of shares of Domesticated Acquiror Common Stock as is equal to the product of (i) the number of Company Common Shares subject to such Restricted Stock Award immediately prior to the Effective Time, multiplied by (ii) the Exchange Ratio, with any fractional shares rounded down to the nearest whole share. (c) As of the Effective Time, each Restricted Stock Unit Award that is outstanding immediately prior to the Effective Time shall be converted into the right to receive restricted stock units based on shares of Domesticated Acquiror Common Stock (each, an \u201cAdjusted Restricted Stock Unit Award\u201d) with substantially the same terms and conditions as were applicable to such Restricted Stock Unit Award immediately prior to the Effective Time (including with respect to vesting and termination-related provisions), except that such Adjusted Restricted Stock Unit Award shall relate to such number of shares of Domesticated Acquiror Common Stock as is equal to the product of (i) the number of shares of Company Common Stock subject to such Restricted Stock Unit Award immediately prior to the Effective Time, multiplied by (ii) the Exchange Ratio, with any fractional shares rounded down to the nearest whole share. (d) The Company shall take all necessary actions to effect the treatment of Company Options, Restricted Stock Awards and Restricted Stock Unit Awards pursuant to Sections 3.3(a), 3.3(b) and 3.3(c) in accordance with the Company Incentive Plan and the applicable award agreements and to ensure that no Acquiror Option may be exercised prior to the effective date of an applicable Form S-8 (or other applicable form, including Form S-1 or Form S-3) of Acquiror. The Board of Directors of the Company shall amend the Company Incentive Plan and take all other necessary actions, effective as of immediately prior to the Closing, in order to (i) cancel the remaining unallocated share reserve under the Company Incentive Plan and provide that shares in respect of Company Awards that for any reason become re-eligible for future issuance, shall be cancelled, (ii) provide that no new Company Awards will be granted under the Company Incentive Plan, and (iii) provide that no Company Options shall be subject to the Option Exchange Program, as defined therein. Section 3.4. Withholding. Notwithstanding any other provision to this Agreement, Acquiror, the Company and the Exchange Agent, as applicable, shall be entitled to deduct and withhold from any amount payable pursuant to this Agreement such Taxes that are required to be deducted and withheld from such amounts under the Code or any other applicable Law (as reasonably determined by Acquiror, the Company, or the Exchange Agent, respectively); provided, that Acquiror shall use commercially reasonable efforts to provide the Company with at least ten (10) days prior written notice of any amounts that it intends to withhold in connection with the payment of the Aggregate Merger Consideration and will reasonably cooperate with the Company to reduce or eliminate any applicable withholding. To the extent that any amounts are so deducted and withheld, such deducted and withheld amounts shall be (i) timely remitted to the appropriate Governmental Authority and (ii) treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction and withholding was made. Field: Page; Sequence: 32; Value: 16 Section 3.5. Dissenting Shares. Notwithstanding any provision of this Agreement to the contrary, shares of Company Common Stock issued and outstanding immediately prior to the Effective Time and held by a holder who has not voted in favor of adoption of this Agreement or consented thereto in writing and who is entitled to demand and has properly exercised appraisal rights of such shares in accordance with Section 262 of the DGCL (such shares of Company Common Stock being referred to collectively as the \u201cDissenting Shares\u201d until such time as such holder fails to perfect or otherwise waives, withdraws, or loses such holder\u2019s appraisal rights under the DGCL with respect to such shares) shall not be converted into a right to receive a portion of the Aggregate Merger Consideration, but instead shall be entitled to only such rights as are granted by Section 262 of the DGCL; provided, however, that if, after the Effective Time, such holder fails to perfect, waives, withdraws, or loses such holder\u2019s right to appraisal pursuant to Section 262 of the DGCL, or if a court of competent jurisdiction shall determine that such holder is not entitled to the relief provided by Section 262 of the DGCL, such shares of Company Common Stock shall be treated as if they had been converted as of the Effective Time into the right to receive the Aggregate Merger Consideration in accordance with Section 3.1 without interest thereon, upon transfer of such shares. The Company shall provide Acquiror prompt written notice of any demands received by the Company for appraisal of shares of Company Common Stock, any waiver or withdrawal of any such demand, and any other demand, notice, or instrument delivered to the Company prior to the Effective Time that relates to such demand. 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Company Organization. The Company has been duly formed or organized and is validly existing under the Laws of its jurisdiction of incorporation or organization, and has the requisite company or corporate power, as applicable, and authority to own, lease or operate all of its properties and assets and to conduct its business as it is now being conducted. The Governing Documents of the Company, as amended to the date of this Agreement and as previously made available by or on behalf of the Company to Acquiror, are true, correct and complete. The Company is duly licensed or qualified and in good standing as a foreign or extra-provincial corporation (or other entity, if applicable) in each jurisdiction in which its ownership of property or the character of its activities is such as to require it to be so licensed or qualified or in good standing, as applicable, except where the failure to be so licensed or qualified or in good standing would not be material to the business of the Company and its Subsidiaries, taken as a whole. Field: Page; Sequence: 33; Value: 16 Section 4.2. Subsidiaries. A complete list of each Subsidiary of the Company and its jurisdiction of incorporation, formation or organization, as applicable, is set forth on Section 4.2 of the Company Disclosure Letter. The Subsidiaries of the Company have been duly formed or organized and are validly existing under the Laws of their jurisdiction of incorporation or organization and have the requisite power and authority to own, lease or operate all of their respective properties and assets and to conduct their respective businesses as they are now being conducted. True, correct and complete copies of the Governing Documents of the Company\u2019s Subsidiaries, in each case, as amended to the date of this Agreement, have been previously made available to Acquiror by or on behalf of the Company. Each Subsidiary of the Company is duly licensed or qualified and in good standing as a foreign or extra-provincial corporation (or other entity, if applicable) in each jurisdiction in which its ownership of property or the character of its activities is such as to require it to be so licensed or qualified or in good standing, as applicable, except where the failure to be so licensed or qualified or in good standing would not have, or would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. Section 4.3. Due Authorization. (a) Other than the Company Stockholder Approvals, the Company has all requisite company or corporate power, as applicable, and authority to execute and deliver this Agreement and the other documents to which it is a party contemplated hereby and (subject to the approvals described in Section 4.5) to consummate the transactions contemplated hereby and thereby and to perform all of its obligations hereunder and thereunder. The execution and delivery of this Agreement and the other documents to which the Company is a party contemplated hereby and the consummation of the transactions contemplated hereby and thereby have been duly and validly authorized and approved by the Board of Directors of the Company, and no other company or corporate proceeding on the part of the Company is necessary to authorize this Agreement and the other documents to which the Company is a party contemplated hereby. This Agreement has been, and on or prior to the Closing, the other documents to which the Company is a party contemplated hereby will be, duly and validly executed and delivered by the Company and this Agreement constitutes, and on or prior to the Closing, the other documents to which the Company is a party contemplated hereby will constitute, a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors\u2019 rights generally and subject, as to enforceability, to general principles of equity. (b) On or prior to the date of this Agreement, the Board of Directors of the Company has duly adopted resolutions (i) determining that this Agreement and the other documents to which the Company is a party contemplated hereby and the transactions contemplated hereby and thereby are advisable and fair to, and in the best interests of, the Company and its stockholders, as applicable, and (ii) authorizing and approving the execution, delivery and performance by the Company of this Agreement and the other documents to which the Company is a party contemplated hereby and the transactions contemplated hereby and thereby. No other corporate action is required on the part of the Company or any of its stockholders to enter into this Agreement or the documents to which the Company is a party contemplated hereby or to approve the Merger other than the Company Stockholder Approvals. Field: Page; Sequence: 34; Value: 16 Section 4.4. No Conflict. Subject to the receipt of the consents, approvals, authorizations and other requirements set forth in Section 4.5 and except as set forth on Section 4.4 of the Company Disclosure Letter, the execution and delivery by the Company of this Agreement and the documents to which the Company is a party contemplated hereby and the consummation of the transactions contemplated hereby and thereby do not and will not (a) violate or conflict with any provision of, or result in the breach of, or default under the Governing Documents of the Company, (b) violate or conflict with any provision of, or result in the breach of, or default under any Law or Governmental Order applicable to the Company or any of the Company\u2019s Subsidiaries, (c) violate or conflict with any provision of, or result in the breach of, result in the loss of any right or benefit, or cause acceleration, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under any Contract of the type described in Section 4.12(a) to which the Company or any of the Company\u2019s Subsidiaries is a party or by which the Company or any of the Company\u2019s Subsidiaries may be bound, or terminate or result in the termination of any such foregoing Contract or (d) result in the creation of any Lien (other than Permitted Liens) upon any of the properties or assets of the Company or any of the Company\u2019s Subsidiaries, except, in the case of clauses (b) through (d), to the extent that the occurrence of the foregoing would not (i) have, or would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of the Company to enter into and perform their obligations under this Agreement or (ii) be material to the business of the Company and its Subsidiaries, taken as a whole. Section 4.5. Governmental Authorities; Consents. Assuming the truth and completeness of the representations and warranties of Acquiror contained in this Agreement, no consent, waiver, approval or authorization of, or designation, declaration or filing with, or notification to, any Governmental Authority (each, a \u201cGovernmental Authorization\u201d) is required on the part of the Company or its Subsidiaries with respect to the Company\u2019s execution or delivery of this Agreement or the consummation by the Company of the transactions contemplated hereby, except for (i) applicable requirements of the HSR Act; (ii) any consents, approvals, authorizations, designations, declarations, waivers or filings, the absence of which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Company to perform or comply with on a timely basis any material obligation of the Company under this Agreement or to consummate the transactions contemplated hereby and (iii) the filing of the Merger Certificate in accordance with the DGCL. Field: Page; Sequence: 35; Value: 16 Section 4.6. Capitalization of the Company. (a) As of the date of this Agreement, the authorized capital stock of the Company consists of (x) 300,000,000 shares of Company Common Stock, of which 55,294,978 shares are issued and outstanding as of the date of this Agreement, and (y) 199,623,002 shares of Company Preferred Stock (of which (i) 24,784,202 shares are designated Series A Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the \u201cSeries A Preferred Stock\u201d), (ii) 14,738,907 shares are designated Series B Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the \u201cSeries B Preferred Stock\u201d), (iii) 14,120,082 shares are designated Series C Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the \u201cSeries C Preferred Stock\u201d), (iv) 3,852,052 shares are designated Series C-1 Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the \u201cSeries C-1 Preferred Stock\u201d), (v) 24,618,212 shares are designated Series D Preferred Stock, par value $0.00001 per share, 24,318,212 of which are issued and outstanding as of the date of this Agreement (the \u201cSeries D Preferred Stock\u201d), (vi) 14,920,858 shares are designated Series D-1 Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the \u201cSeries D-1 Preferred Stock\u201d), (vii) 77,594,477 shares are designated Series E Preferred Stock, par value $0.00001 per share, 73,940,269 of which are issued and outstanding as of the date of this Agreement (the \u201cSeries E Preferred Stock\u201d), (viii) 2,486,560 shares are designated Series E-1 Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the \u201cSeries E-1 Preferred Stock\u201d) and (ix) 22,507,652 shares are designated Series E-2 Preferred Stock, par value $0.00001 per share, 21,222,829 of which are issued and outstanding as of the date of this Agreement (the \u201cSeries E-2 Preferred Stock\u201d)), and there are no other authorized equity interests of the Company that are issued and outstanding. All of the issued and outstanding shares of Company Capital Stock (i) have been duly authorized and validly issued and are fully paid and non-assessable; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) the Governing Documents of the Company and (2) any other applicable Contracts governing the issuance of such securities; (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, the Governing Documents of the Company or any Contract to which the Company is a party or otherwise bound; and (iv) are free and clear of any Liens. All shares of Company Common Stock are uncertificated, book-entry shares. (b) As of the date of this Agreement, (x) Company Common Warrants to purchase 2,083,749 shares of Company Common Stock are authorized and outstanding (of which (i) 758,246 warrant shares are designated Common 1 Warrants (the \u201cCommon 1 Warrants\u201d), (ii) 44,586 warrant shares are designated Common 2 Warrants (the \u201cCommon 2 Warrants\u201d), (iii) 50,000 warrant shares are designated Common 3 Warrants (the \u201cCommon 3 Warrants\u201d), (iv) 1,228,305 warrant shares are designated Common 4 Warrants (the \u201cCommon 4 Warrants\u201d) and (v) 2,612 warrant shares are designated Common 5 Warrants (the \u201cCommon 5 Warrants\u201d)), (y) Company Common Warrants to purchase 750,255 shares of Company Common Stock are authorized, but not outstanding, which warrant shares are designated Common 6 Warrants (the \u201cCommon 6 Warrants\u201d), and (z) Company Preferred Warrants to purchase 525,076 shares of Company Preferred Stock are authorized and outstanding (of which (i) 300,000 warrant shares are designated Series D Preferred Warrants (the \u201cSeries D Preferred Warrants\u201d), and (ii) 225,076 warrant shares are designated Series E Preferred Warrants (the \u201cSeries E Preferred Warrants\u201d)). All outstanding Company Warrants (i) have been duly authorized and validly issued and constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors\u2019 rights generally and subject, as to enforceability, to general principles of equity; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) the Governing Documents of the Company and (2) any other applicable Contracts governing the issuance of such securities; and (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, the Governing Documents of the Company or any Contract to which the Company is a party or otherwise bound; and (iv) are free and clear of any Liens. Field: Page; Sequence: 36; Value: 16 (c) As of the date of this Agreement, (i) Company Options to purchase 17,888,078 shares of Company Common Stock, with an aggregate exercise price equal to $52,820,445.34, of which 8,367,102 Company Options that have not been exercised have early exercise features, (ii) Restricted Stock Awards with respect to 48,865 shares of Company Common Stock, of which 48,865 shares of restricted Company Common Stock have been received upon the early exercise of Company Options and are subject to vesting conditions as of the date of this Agreement, and (iii) Restricted Stock Unit Awards with respect to 19,686,314 shares of Company Common Stock, are outstanding. The Company has provided to Acquiror, prior to the date of this Agreement, a true and complete list of each current or former employee, consultant or director of the Company or any of its Subsidiaries who, as of the date of this Agreement, holds a Company Award, including the type of Company Award, the number of shares of Company Common Stock subject thereto, vesting schedule and, if applicable, the exercise price thereof. All Company Options, Restricted Stock Awards and Restricted Stock Unit Awards are evidenced by award agreements in substantially the forms previously made available to Acquiror, and no Company Option, Restricted Stock Award or Restricted Stock Unit Award, is subject to terms that are materially different from those set forth in such forms. Each Company Option, each Restricted Stock Award, and each Restricted Stock Unit Award, was validly issued and properly approved by, the Board of Directors of the Company (or appropriate committee thereof). (d) Except as otherwise set forth in this Section 4.6 or on Section 4.6(d) of the Company Disclosure Letter, the Company has not granted any outstanding subscriptions, options, stock appreciation rights, warrants, rights or other securities (including debt securities) convertible into or exchangeable or exercisable for shares of Company Capital Stock, any other commitments, calls, conversion rights, rights of exchange or privilege (whether pre-emptive, contractual or by matter of Law), plans or other agreements of any character providing for the issuance of additional shares, the sale of treasury shares or other equity interests, or for the repurchase or redemption of shares or other equity interests of the Company or the value of which is determined by reference to shares or other equity interests of the Company, and there are no voting trusts, proxies or agreements of any kind which may obligate the Company to issue, purchase, register for sale, redeem or otherwise acquire any shares of Company Capital Stock. Section 4.7. Capitalization of Subsidiaries. (a) The outstanding shares of capital stock or equity interests of each of the Company\u2019s Subsidiaries (i) have been duly authorized and validly issued, are, to the extent applicable, fully paid and non-assessable; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) the Governing Documents of each such Subsidiary, and (2) any other applicable Contracts governing the issuance of such securities; (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, the Governing Documents of each such Subsidiary or any Contract to which each such Subsidiary is a party or otherwise bound; and (iv) are free and clear of any Liens. Field: Page; Sequence: 37; Value: 16 (b) The Company owns of record and beneficially all the issued and outstanding shares of capital stock or equity interests of such Subsidiaries free and clear of any Liens other than Permitted Liens. (c) Except as set forth on Section 4.7(c) of the Company Disclosure Letter, there are no outstanding subscriptions, options, warrants, rights or other securities (including debt securities) exercisable or exchangeable for any capital stock of such Subsidiaries, any other commitments, calls, conversion rights, rights of exchange or privilege (whether pre-emptive, contractual or by matter of Law), plans or other agreements of any character providing for the issuance of additional shares, the sale of treasury shares or other equity interests, or for the repurchase or redemption of shares or other equity interests of such Subsidiaries or the value of which is determined by reference to shares or other equity interests of the Subsidiaries, and there are no voting trusts, proxies or agreements of any kind which may obligate any Subsidiary of the Company to issue, purchase, register for sale, redeem or otherwise acquire any of its capital stock. Section 4.8. Financial Statements. (a) Attached as Section 4.8(a) of the Company Disclosure Letter are: true and complete copies of the audited consolidated balance sheets and statements of operations, comprehensive loss, stockholders\u2019 equity and cash flows of the Company and its Subsidiaries as of and for the years ended December 31, 2019 and December 31, 2018, together with the auditor\u2019s reports thereon (together with the Updated Financial Statements, when delivered pursuant to Section 6.3(a), the \u201cAudited Financial Statements\u201d and, together with the 1H Financial Statements, when delivered pursuant to Section 6.3(b), the \u201cFinancial Statements\u201d). (b) Except as set forth on Section 4.8(b) of the Company Disclosure Letter, the Audited Financial Statements and, when delivered pursuant to Section 6.3(b), the 1H Financial Statements (i) fairly present in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries, as at the respective dates thereof, and the consolidated results of their operations, their consolidated incomes, their consolidated changes in stockholders\u2019 equity (with respect to the Audited Financial Statements only) and their consolidated cash flows for the respective periods then ended (subject, in the case of the 1H Financial Statements, to normal year-end adjustments and the absence of footnotes), (ii) were prepared in conformity with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto and, in the case of the 1H Financial Statements, the absence of footnotes or the inclusion of limited footnotes), (iii) were prepared from, and are in accordance in all material respects with, the books and records of the Company and its consolidated Subsidiaries and (iv) when delivered by the Company for inclusion in the Registration Statement for filing with the SEC following the date of this Agreement in accordance with Section 6.3, will comply in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant, in effect as of the respective dates thereof. Field: Page; Sequence: 38; Value: 16 Field: Split-Segment; Name: 4 (c) Neither the Company (including, to the knowledge of the Company, any employee thereof) nor any independent auditor of the Company has identified or been made aware of (i) any significant deficiency or material weakness in the system of internal accounting controls utilized by the Company, (ii) any fraud, whether or not material, that involves the Company\u2019s management or other employees who have a role in the preparation of financial statements or the internal accounting controls utilized by the Company or (iii) any claim or allegation regarding any of the foregoing. Section 4.9. Undisclosed Liabilities. Except as set forth on Section 4.9 of the Company Disclosure Letter, there is no other liability, debt (including Indebtedness) or obligation of, or claim or judgment against, the Company or any of the Company\u2019s Subsidiaries (whether direct or indirect, absolute or contingent, accrued or unaccrued, known or unknown, liquidated or unliquidated, or due or to become due), except for liabilities, debts, obligations, claims or judgments (a) reflected or reserved for on the Financial Statements or disclosed in the notes thereto, (b) that have arisen since the date of the most recent balance sheet included in the Financial Statements in the ordinary course of business, consistent with past practice, of the Company and its Subsidiaries or (c) that will be discharged or paid off prior to or at the Closing. Section 4.10. Litigation and Proceedings. Except as set forth on Section 4.10 of the Company Disclosure Letter, as of the date hereof (a) there are no pending or, to the knowledge of the Company, threatened, lawsuits, actions, suits, judgments, claims, proceedings or any other Actions (including any investigations or inquiries initiated, pending or threatened by any Governmental Authority), or other proceedings at law or in equity (collectively, \u201cLegal Proceedings\u201d), against the Company or any of the Company\u2019s Subsidiaries or their respective properties or assets; and (b) there is no outstanding Governmental Order imposed upon the Company or any of the Company\u2019s Subsidiaries; nor are any properties or assets of the Company or any of the Company\u2019s Subsidiaries\u2019 respective businesses bound or subject to any Governmental Order, except, in each case, as would not be, or would not reasonably be expected to be, material to the business of the Company and its Subsidiaries, taken as a whole. Section 4.11. Legal Compliance. (a) As of the date hereof, each of the Company and its Subsidiaries is in compliance with all applicable Laws in all material respects. (b) For the past three (3) years, none of the Company or any of its Subsidiaries has received any written notice of, or been charged with, the violation of any Laws, except where such violation has not been material to the business of the Company and its Subsidiaries, taken as a whole. (c) The Company and its Subsidiaries maintain a program of policies, procedures and internal controls reasonably designed and implemented to provide reasonable assurance that violation of applicable Law by any of the Company\u2019s or its Subsidiaries\u2019 directors, officers, employees or its or their respective agents, representatives or other Persons, acting on behalf of the Company or any of the Company\u2019s Subsidiaries, will be prevented, detected and deterred. Field: Page; Sequence: 39; Options: NewSection; Value: 33 Section 4.12. Contracts; No Defaults. (a) Section 4.12(a) of the Company Disclosure Letter contains a listing of all Contracts described in clauses (i) through (xv) below to which, as of the date of this Agreement, the Company or any of the Company\u2019s Subsidiaries is a party or by which they are bound, other than a Company Benefit Plan. True, correct and complete copies of the Contracts listed on Section 4.12(a) of the Company Disclosure Letter have previously been delivered to or made available to Acquiror or its agents or representatives, together with all amendments thereto. (i) Any Contract with any of the Top Vendors; (ii) Each note, debenture, other evidence of Indebtedness, guarantee, loan, credit or financing agreement or instrument or other Contract for money borrowed by the Company or any of the Company\u2019s Subsidiaries, including (A) the Inventory Financing Documents, and (B) any other agreement or commitment for future loans, credit or financing, in each case, in excess of $1,000,000; (iii) Each Contract for the acquisition of any Person or any business unit thereof or the disposition of any material assets of the Company or any of its Subsidiaries in the last two (2) years, in each case, involving payments in excess of $1,000,000 other than Contracts (A) in which the applicable acquisition or disposition has been consummated and there are no material obligations ongoing, or (B) between the Company and its wholly owned Subsidiaries; (iv) Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Contract that provides for the ownership of, leasing of, title to, use of, or any leasehold or other interest in any real or personal property that involves aggregate payments in excess of $1,000,000 in any calendar year, other than Contracts for the purchase or sale of the Owned Residential Properties; (v) Each Contract involving the formation of a (A) joint venture, (B) partnership, or (C) limited liability company (excluding, in the case of clauses (B) and (C), any wholly owned Subsidiary of the Company); (vi) Contracts (other than employment agreements, employee confidentiality and invention assignment agreements, equity or incentive equity documents and Governing Documents) between the Company and its Subsidiaries, on the one hand, and Affiliates of the Company or any of the Company\u2019s Subsidiaries (other than the Company or any of the Company\u2019s Subsidiaries), the officers and managers (or equivalents) of the Company or any of the Company\u2019s Subsidiaries, the members or stockholders of the Company or any of the Company\u2019s Subsidiaries, any employee of the Company or any of the Company\u2019s Subsidiaries or a member of the immediate family of the foregoing Persons, on the other hand (collectively, \u201cAffiliate Agreements\u201d); Field: Page; Sequence: 40; Value: 33 (vii) Contracts with each current executive, officer, director or current employee of the Company or its Subsidiaries with a title of Vice President or higher; (viii) Contracts with any employee or consultant of the Company or any of the Company\u2019s Subsidiaries that provide for change in control, retention or similar payments or benefits contingent upon, accelerated by or triggered by the consummation of the transactions contemplated hereby; (ix) Contracts containing covenants of the Company or any of the Company\u2019s Subsidiaries (A) prohibiting or limiting the right of the Company or any of the Company\u2019s Subsidiaries to engage in or compete with any Person in any line of business in any material respect or (B) prohibiting or restricting the Company\u2019s and the Company\u2019s Subsidiaries\u2019 ability to conduct their business with any Person in any geographic area in any material respect; (x) Any collective bargaining (or similar) agreement or Contract between the Company or any of the Company\u2019s Subsidiaries, on one hand, and any labor union or other body representing employees of the Company or any of the Company\u2019s Subsidiaries, on the other hand; (xi) Each Contract (including license agreements, coexistence agreements, and agreements with covenants not to sue, but not including non-disclosure agreements, contractor services agreements, consulting services agreements, incidental trademark licenses incident to marketing, printing or advertising Contracts) pursuant to which the Company or any of the Company\u2019s Subsidiaries (i) grants to a third Person the right to use material Intellectual Property of the Company and its Subsidiaries or (ii) is granted by a third Person the right to use Intellectual Property that is material to the business of the Company and its Subsidiaries (other than Contracts granting nonexclusive rights to use commercially available off-the-shelf software and Open Source Licenses); (xii) Each Contract requiring capital expenditures by the Company or any of the Company\u2019s Subsidiaries after the date of this Agreement in an amount in excess of $1,000,000 in any calendar year; (xiii) Any Contract that (A) grants to any third Person any \u201cmost favored nation rights\u201d or (B) grants to any third Person price guarantees for a period greater than one (1) year from the date of this Agreement and requires aggregate future payments to the Company and its Subsidiaries in excess of $1,000,000 in any calendar year; (xiv) Contracts granting to any Person (other than the Company or its Subsidiaries) a right of first refusal, first offer or similar preferential right to purchase or acquire equity interests in the Company or any of the Company\u2019s Subsidiaries; and (xv) Any outstanding written commitment to enter into any Contract of the type described in subsections (i) through (xiv) of this Section 4.12(a). Field: Page; Sequence: 41; Value: 33 (b) Except for any Contract that will terminate upon the expiration of the stated term thereof prior to the Closing Date, all of the Contracts listed pursuant to Section 4.12(a) in the Company Disclosure Letter are (i) in full force and effect and (ii) represent the legal, valid and binding obligations of the Company or the Subsidiary of the Company party thereto and, to the knowledge of the Company, represent the legal, valid and binding obligations of the counterparties thereto. Except, in each case, where the occurrence of such breach or default or failure to perform would not be material to the Company and its Subsidiaries, taken as a whole, (x) the Company and its Subsidiaries have performed in all respects all respective obligations required to be performed by them to date under such Contracts listed pursuant to Section 4.12(a) and neither the Company, the Company\u2019s Subsidiaries, nor, to the knowledge of the Company, any other party thereto is in breach of or default under any such Contract, (y) during the last twelve (12) months, neither the Company nor any of its Subsidiaries has received any written claim or written notice of termination or breach of or default under any such Contract, and (z) to the knowledge of the Company, no event has occurred which individually or together with other events, would reasonably be expected to result in a breach of or a default under any such Contract by the Company or its Subsidiaries or, to the knowledge of the Company, any other party thereto (in each case, with or without notice or lapse of time or both). Section 4.13. Company Benefit Plans. (a) Section 4.13(a) of the Company Disclosure Letter sets forth a complete list, as of the date hereof, of each material Company Benefit Plan. For purposes of this Agreement, a \u201cCompany Benefit Plan\u201d means an \u201cemployee benefit plan\u201d as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, (\u201cERISA\u201d) or any other plan, policy, program or agreement (including any employment, bonus, incentive or deferred compensation, employee loan, note or pledge agreement, equity or equity-based compensation, severance, retention, supplemental retirement, change in control or similar plan, policy, program or agreement) providing compensation or other benefits to any current or former director, officer, individual consultant, worker or employee, which are maintained, sponsored or contributed to by the Company or any of the Company\u2019s Subsidiaries, or to which the Company or any of the Company\u2019s Subsidiaries is a party or has or may have any liability, and in each case whether or not (i) subject to the Laws of the United States, (ii) in writing or (iii) funded, but excluding in each case any statutory plan, program or arrangement that is required under applicable law and maintained by any Governmental Authority. With respect to each material Company Benefit Plan, the Company has made available to Acquiror, to the extent applicable, true, complete and correct copies of (A) such Company Benefit Plan (or, if not written a written summary of its material terms) and all plan documents, trust agreements, insurance Contracts or other funding vehicles and all amendments thereto, (B) the most recent summary plan descriptions, including any summary of material modifications, (C) the most recent annual reports (Form 5500 series) filed with the IRS with respect to such Company Benefit Plan, (D) the most recent actuarial report or other financial statement relating to such Company Benefit Plan, and (E) the most recent determination or opinion letter, if any, issued by the IRS with respect to any Company Benefit Plan and any pending request for such a determination letter. (b) Except as set forth on Section 4.13(b) of the Company Disclosure Letter, (i) each Company Benefit Plan has been operated and administered in compliance with its terms and all applicable Laws, including ERISA and the Code, except where the failure to comply would not reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole; (ii) in all material respects, all contributions required to be made with respect to any Company Benefit Plan on or before the date hereof have been made and all obligations in respect of each Company Benefit Plan as of the date hereof have been accrued and reflected in the Company\u2019s financial statements to the extent required by GAAP; (iii) each Company Benefit Plan which is intended to be qualified within the meaning of Section 401(a) of the Code has received a favorable determination or opinion letter from the IRS as to its qualification or may rely upon an opinion letter for a prototype plan and, to the knowledge of the Company, no fact or event has occurred that would reasonably be expected to adversely affect the qualified status of any such Company Benefit Plan. Field: Page; Sequence: 42; Value: 33 (c) No Company Benefit Plan is a multiemployer pension plan (as defined in Section 3(37) of ERISA) (a \u201cMultiemployer Plan\u201d) or other pension plan that is subject to Title IV of ERISA (\u201cTitle IV Plan\u201d), and neither the Company nor any of its ERISA Affiliates has sponsored or contributed to, been required to contribute to, or had any actual or contingent liability under, a Multiemployer Plan or Title IV Plan at any time within the previous six (6) years. Neither the Company nor any of its ERISA Affiliates has incurred any withdrawal liability under Section 4201 of ERISA that has not been fully satisfied. (d) With respect to each Company Benefit Plan, no material actions, suits or claims (other than routine claims for benefits in the ordinary course) are pending or, to the knowledge of the Company, threatened, and to the knowledge of the Company, no facts or circumstances exist that would reasonably be expected to give rise to any such actions, suits or claims. (e) No Company Benefit Plan provides medical, surgical, hospitalization, death or similar benefits (whether or not insured) for employees or former employees of the Company or any Subsidiary for periods extending beyond their retirement or other termination of service, other than (i) coverage mandated by applicable Law, (ii) death benefits under any \u201cpension plan,\u201d or (iii) benefits the full cost of which is borne by the current or former employee (or his or her beneficiary). (f) Except as set forth on Section 4.13(f) of the Company Disclosure Letter, the consummation of the transactions contemplated hereby will not, either alone or in combination with another event (such as termination following the consummation of the transactions contemplated hereby), (i) entitle any current or former employee, officer or other service provider of the Company or any Subsidiary of the Company to any severance pay or any other compensation or benefits payable or to be provided by the Company or any Subsidiary of the Company, except for the Management Grants, as expressly provided in this Agreement, (ii) accelerate the time of payment, funding or vesting, or increase the amount of compensation or benefits due any such employee, officer or other individual service provider by the Company or a Subsidiary of the Company, or (iii) accelerate the vesting and/or settlement of any Company Award. The consummation of the transactions contemplated hereby will not, either alone or in combination with another event, result in any \u201cexcess parachute payment\u201d under Section 280G of the Code. No Company Benefit Plan provides for a Tax gross-up, make whole or similar payment with respect to the Taxes imposed under Sections 409A or 4999 of the Code. Field: Page; Sequence: 43; Value: 33 (g) All Company Options have been granted in accordance with the terms of the Company Incentive Plan. Each Company Option has been granted with an exercise price that is no less than the fair market value of the underlying Company Common Stock on the date of grant, as determined in accordance with Section 409A of the Code or Section 422 of the Code, if applicable. Each Company Option is intended to either qualify as an \u201cincentive stock option\u201d under Section 422 of the Code or to be exempt under Section 409A of the Code. The Company has made available to Acquiror, accurate and complete copies of (i) the Company Incentive Plan, (ii) the forms of standard award agreement under the Company Incentive Plan, (iii) copies of any award agreements that materially deviate from such forms and (iv) a list of all outstanding equity and equity-based awards granted under any Company Incentive Plan, together with the material terms thereof (including but not limited to grant date, exercise price, vesting terms, form of award, expiration date, and number of shares underlying such award). The treatment of Company Options under this Agreement does not violate the terms of the Company Incentive Plan or any Contract governing the terms of such awards. Section 4.14. Labor Relations; Employees. (a) Except as set forth on Section 4.14(a) of the Company Disclosure Letter, (i) neither the Company nor any of its Subsidiaries is a party to or bound by any collective bargaining agreement, or any similar agreement, (ii) no such agreement is being negotiated by the Company or any of the Company\u2019s Subsidiaries, and (iii) no labor union or any other employee representative body has requested or, to the knowledge of the Company, has sought to represent any of the employees of the Company or its Subsidiaries. To the knowledge of the Company, there has been no labor organization activity involving any employees of the Company or any of its Subsidiaries. In the past three (3) years, there has been no actual or, to the knowledge of the Company, threatened strike, slowdown, work stoppage, lockout or other material labor dispute against or affecting the Company or any Subsidiary of the Company. (b) Each of the Company and its Subsidiaries are, and have been for the past three (3) years, in compliance with all applicable Laws respecting labor and employment including, but not limited to, all Laws respecting terms and conditions of employment, health and safety, wages and hours, holiday pay and the calculation of holiday pay, working time, employee classification (with respect to both exempt vs. non-exempt status and employee vs. independent contractor and worker status), child labor, immigration, employment discrimination, disability rights or benefits, equal opportunity and equal pay, plant closures and layoffs, affirmative action, workers\u2019 compensation, labor relations, employee leave issues and unemployment insurance, except where the failure to comply would not reasonably be expected to be, individually or in the aggregate, material to the business of the Company and its Subsidiaries. (c) In the past three (3) years, the Company and its Subsidiaries have not received (i) notice of any unfair labor practice charge or material complaint pending or threatened before the National Labor Relations Board or any other Governmental Authority against them, (ii) notice of any complaints, grievances or arbitrations arising out of any collective bargaining agreement or any other complaints, grievances or arbitration procedures against them, (iii) notice of any material charge or complaint with respect to or relating to them pending before the Equal Employment Opportunity Commission or any other Governmental Authority responsible for the prevention of unlawful employment practices, (iv) notice of the intent of any Governmental Authority responsible for the enforcement of labor, employment, wages and hours of work, child labor, immigration, or occupational safety and health Laws to conduct an investigation with respect to or relating to them or notice that such investigation is in progress, or (v) notice of any complaint, lawsuit or other proceeding pending or threatened in any forum by or on behalf of any present or former employee of such entities, any applicant for employment or classes of the foregoing alleging breach of any express or implied Contract of employment, any applicable Law governing employment or the termination thereof or other discriminatory, wrongful or tortious conduct in connection with the employment relationship. Field: Page; Sequence: 44; Value: 33 (d) To the knowledge of the Company, no present or former employee, worker or independent contractor of the Company or any of the Company\u2019s Subsidiaries\u2019 is in material violation of (i) any restrictive covenant, nondisclosure obligation or fiduciary duty to the Company or any of the Company\u2019s Subsidiaries or (ii) any restrictive covenant or nondisclosure obligation to a former employer or engager of any such individual relating to (A) the right of any such individual to work for or provide services to the Company or any of the Company\u2019s Subsidiaries\u2019 or (B) the knowledge or use of trade secrets or proprietary information. (e) Neither the Company nor any of the Company\u2019s Subsidiaries is party to a settlement agreement with a current or former officer, employee or independent contractor of the Company or any of the Company\u2019s Subsidiaries that involves allegations relating to sexual harassment, sexual misconduct or discrimination by either (i) an officer of the Company or any of the Company\u2019s Subsidiaries or (ii) an employee of the Company or any of the Company\u2019s Subsidiaries at the level of Vice President or above. To the knowledge of the Company, in the last five (5) years, no allegations of sexual harassment, sexual misconduct or discrimination have been made against (i) an officer of the Company or any of the Company\u2019s Subsidiaries or (ii) an employee of the Company or any of the Company\u2019s Subsidiaries at the level of Vice President or above. (f) In the past three (3) years, the Company and its Subsidiaries have not engaged in layoffs, furloughs or employment terminations sufficient to trigger application of the Workers\u2019 Adjustment and Retraining Notification Act or any similar state or local law relating to group terminations. The Company and its Subsidiaries have not engaged in layoffs, furloughs, employment terminations (other than for cause) or effected any broad-based salary or other compensation or benefits reductions, in each case, whether temporary or permanent, since January 1, 2020 through the date hereof. The Company, taken as a whole with its Subsidiaries, has sufficient employees to operate the business of the Company and its Subsidiaries as currently conducted. Section 4.15. Taxes. (a) All material Tax Returns required to be filed by or with respect to the Company or any of its Subsidiaries have been timely filed (taking into account any applicable extensions), all such Tax Returns (taking into account all amendments thereto) are true, complete and accurate in all material respects and all material Taxes due and payable (whether or not shown on any Tax Return) have been paid, other than Taxes being contested in good faith and for which adequate reserves have been established in accordance with GAAP. (b) The Company and each of its Subsidiaries have withheld from amounts owing to any employee, creditor or other Person all material Taxes required by Law to be withheld, paid over to the proper Governmental Authority in a timely manner all such withheld amounts required to have been so paid over and complied in all material respects with all applicable withholding and related reporting requirements with respect to such Taxes. Field: Page; Sequence: 45; Value: 33 (c) There are no Liens for Taxes (other than Permitted Liens) upon the property or assets of the Company or any of its Subsidiaries. (d) No claim, assessment, deficiency or proposed adjustment for any material amount of Tax has been asserted or assessed by any Governmental Authority against the Company or any of its Subsidiaries that remains unresolved or unpaid except for claims, assessments, deficiencies or proposed adjustments being contested in good faith and for which adequate reserves have been established in accordance with GAAP. (e) There are no material Tax audit or other examination of the Company or any of its Subsidiaries presently in progress, and there are no waivers, extensions or requests for any waivers or extensions of any statute of limitations currently in effect with respect to any material Taxes of the Company or any of its Subsidiaries. (f) Neither the Company nor any of its Subsidiaries has made a request for an advance tax ruling, request for technical advice, a request for a change of any method of accounting or any similar request that is in progress or pending with any Governmental Authority with respect to any Taxes that would reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole. (g) Neither the Company nor any of its Subsidiaries is a party to any Tax indemnification or Tax sharing or similar agreement (other than any such agreement solely between the Company and its existing Subsidiaries and customary commercial Contracts (or Contracts entered into in the ordinary course of business) not primarily related to Taxes). (h) Neither the Company nor any of its Subsidiaries has been a party to any transaction treated by the parties as a distribution of stock qualifying for Tax-free treatment under Section 355 of the Code in the two (2) years prior to the date of this Agreement. (i) Neither the Company nor any of its Subsidiaries (i) is liable for Taxes of any other Person (other than the Company and its Subsidiaries) under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign Tax Law or as a transferee or successor or by Contract (other than customary commercial Contracts (or Contracts entered into in the ordinary course of business) not primarily related to Taxes) or (ii) has ever been a member of an affiliated, consolidated, combined or unitary group filing for U.S. federal, state or local income Tax purposes, other than a group the common parent of which was or is the Company or any of its Subsidiaries. (j) No written claim has been made by any Governmental Authority within the last thirty-six (36) months where the Company or any of its Subsidiaries does not file Tax Returns that it is or may be subject to taxation in that jurisdiction. Field: Page; Sequence: 46; Value: 33 (k) Neither the Company nor any of its Subsidiaries has, or has ever had, a permanent establishment in any country other than the country of its organization, or is, or has ever been, subject to income Tax in a jurisdiction outside the country of its organization. (l) Neither the Company nor any of its Subsidiaries has participated in a \u201clisted transaction\u201d within the meaning of Treasury Regulation 1.6011-4(b)(2). (m) Neither the Company nor any of its Subsidiaries will be required to include any material amount in taxable income, exclude any material item of deduction or loss from taxable income, or make any adjustment under Section 481 of the Code (or any similar provision of state, local or foreign Law) for any taxable period (or portion thereof) ending after the Closing Date as a result of any (i) installment sale, excess loss account or deferred intercompany transaction described in the Treasury Regulations under Section 1502 of the Code (or any similar provision of state, local or foreign Law) or open transaction disposition made prior to the Closing outside the ordinary course of business, (ii) prepaid amount received or deferred revenue recognized prior to the Closing outside the ordinary course of business, (iii) change in method of accounting for a taxable period ending on or prior to the Closing Date, (iv) \u201cclosing agreements\u201d described in Section 7121 of the Code (or any similar provision of state, local or foreign Law) executed prior to the Closing, or (v) by reason of Section 965(a) of the Code or election pursuant to Section 965(h) of the Code (or any similar provision of state, local or foreign Law), and to the knowledge of the Company, the IRS has not proposed any such adjustment or change in accounting method. (n) The Company has not been, is not, and immediately prior to the Effective Time will not be, treated as an \u201cinvestment company\u201d within the meaning of Section 368(a)(2)(F) of the Code. (o) The Company has not taken any action, nor to the knowledge of the Company or any of its Subsidiaries are there any facts or circumstances, that could reasonably be expected to prevent the Merger from qualifying as a \u201creorganization\u201d within the meaning of Section 368(a) of the Code and the Treasury Regulations. Section 4.16. Brokers\u2019 Fees. Except as set forth on Section 4.16 of the Company Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders\u2019 fee or other commission in connection with the transactions contemplated hereby based upon arrangements made by the Company, any of the Company\u2019s Subsidiaries\u2019 or any of their Affiliates for which Acquiror, the Company or any of the Company\u2019s Subsidiaries has any obligation. Section 4.17. Insurance. Section 4.17 of the Company Disclosure Letter contains a list of, as of the date hereof, all material policies or binders of property, fire and casualty, product liability, workers\u2019 compensation, and other forms of insurance held by, or for the benefit of, the Company or any of the Company\u2019s Subsidiaries as of the date of this Agreement. True, correct and complete copies of such insurance policies as in effect as of the date hereof have previously been made available to Acquiror. All such policies are in full force and effect, all premiums due have been paid, and no notice of cancellation or termination has been received by the Company or any of the Company\u2019s Subsidiaries with respect to any such policy. Except as disclosed on Section 4.17 of the Company Disclosure Letter, no insurer has denied or disputed coverage of any material claim under an insurance policy during the last twelve (12) months. Field: Page; Sequence: 47; Value: 33 Section 4.18. Licenses. The Company and its Subsidiaries have obtained, and maintain, all of the material Licenses reasonably required to permit the Company and its Subsidiaries to acquire, originate, own, operate, use and maintain their assets in the manner in which they are now operated and maintained and to conduct the business of the Company and its Subsidiaries as currently conducted. Each material License held by the Company or any of the Company\u2019s Subsidiaries is in full force and effect. Neither the Company nor any of its Subsidiaries (a) is in default or violation (and no event has occurred which, with notice or the lapse of time or both, would constitute a material default or violation) in any material respect of any term, condition or provision of any material License to which it is a party, (b) is or has been the subject of any pending or threatened Action by a Governmental Authority seeking the revocation, suspension, termination, modification, or impairment of any material License; or (c) has received any notice that any Governmental Authority that has issued any material License intends to cancel, terminate, or not renew any such material License, except to the extent such material License may be amended, replaced, or reissued as a result of and as necessary to reflect the transactions contemplated hereby, or as otherwise disclosed in Section 4.4 of the Company Disclosure Letter, provided such amendment, replacement, or reissuance does not materially adversely affect the continuous conduct of the business of the Company and its Subsidiaries as currently conducted from and after Closing. Section 4.18 of the Company Disclosure Letter sets forth a true, correct and complete list of material Licenses held by the Company or its Subsidiaries. Section 4.19. Equipment and Other Tangible Property. The Company or one of its Subsidiaries owns and has good title to, and has the legal and beneficial ownership of or a valid leasehold interest in or right to use by license or otherwise, all material machinery, equipment and other tangible property reflected on the books of the Company and its Subsidiaries as owned by the Company or one of its Subsidiaries, free and clear of all Liens other than Permitted Liens. All material personal property and leased personal property assets of the Company and its Subsidiaries are structurally sound and in good operating condition and repair (ordinary wear and tear expected) and are suitable for their present use. Section 4.20. Real Property. (a) Section 4.20(a) of the Company Disclosure Letter sets forth a true, correct and complete list as of the date of this Agreement of all Leased Real Property and all Real Property Leases (as hereinafter defined) pertaining to such Leased Real Property. With respect to each parcel of Leased Real Property: (i) The Company or one of its Subsidiaries holds a good and valid leasehold estate in such Leased Real Property, free and clear of all Liens, except for Permitted Liens. (ii) The Company and its Subsidiaries have delivered to Acquiror true, correct and complete copies of all leases, lease guaranties, subleases, agreements for the leasing, use or occupancy of, or otherwise granting a right in and to the Leased Real Property by or to the Company and its Subsidiaries, including all amendments, terminations and modifications thereof (collectively, the \u201cReal Property Leases\u201d), and none of such Real Property Leases have been modified in any material respect, except to the extent that such modifications have been disclosed by the copies delivered to Acquiror. Field: Page; Sequence: 48; Value: 33 (iii) The Company and its Subsidiaries\u2019, as applicable, possession and quiet enjoyment of the Leased Real Property under such Real Property Leases has not been materially disturbed and, to the knowledge of the Company, there are no material disputes with respect to such Real Property Leases. (iv) As of the date of this Agreement, no party, other than the Company or its Subsidiaries, has any right to use or occupy the Leased Real Property or any portion thereof. (v) Neither the Company nor any of its Subsidiaries have received written notice of any current condemnation proceeding or proposed similar Action or agreement for taking in lieu of condemnation with respect to any portion of the Leased Real Property. (b) The Company and its Subsidiaries have good and marketable fee simple title to the Owned Residential Properties as reflected in the balance sheet contained in the most recent Financial Statements (except for such Owned Residential Properties sold since the date of such Financial Statements in the ordinary course). All Owned Residential Properties are free and clear of all Liens (except for Permitted Liens). (i) Except as would not be material to the Company and its Subsidiaries, taken as a whole, to the knowledge of the Company, each Owned Residential Property is a single parcel of real property with a detached single-family residence erected thereon, or a two-to-four family dwelling, or an individual condominium unit in a low-rise or high-rise condominium project, or an individual townhome, or an individual unit in a planned unit development or a de minimis planned unit development located in the District of Columbia or in a state of the United States of America. (ii) Neither the Company nor any of its Subsidiaries have received any written notice of any: (i) material violations of building codes and/or zoning ordinances or other Laws affecting the Owned Residential Properties; (ii) existing, pending or threatened in writing condemnation proceedings affecting the Owned Residential Properties; or (iii) existing, pending or threatened in writing zoning, building code or other moratorium proceedings, or similar matters which, in each case, would reasonably be expected to materially and adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries. (iii) To the knowledge of the Company, neither the Company nor any of its Subsidiaries have received written notice of any material default under any restrictive covenants affecting any of the Owned Residential Properties, except for such defaults as would not be expected to materially or adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries, taken as a whole. Field: Page; Sequence: 49; Value: 33 (iv) Except for Permitted Liens, there are no leases, subleases, licenses or other similar occupancy agreements pursuant to which the Company or any of its Subsidiaries have granted to any party or parties the right of use or occupancy of any portion of the Owned Residential Properties and there is no Person (other than the Companies or its Subsidiaries) in possession of such Owned Residential Properties. (c) None of the Company or any of its Subsidiaries owns any Owned Real Property. Section 4.21. Intellectual Property. (a) Section 4.21(a) of the Company Disclosure Letter lists each item of Intellectual Property that is registered and applied-for with a Governmental Authority and is owned by the Company or any of the Company\u2019s Subsidiaries as of the date of this Agreement, whether applied for or registered in the United States or internationally as of the date of this Agreement (\u201cCompany Registered Intellectual Property\u201d). The Company or one of the Company\u2019s Subsidiaries is the sole and exclusive beneficial and record owner of all of the items of Company Registered Intellectual Property, and, to the knowledge of the Company, all such Company Registered Intellectual Property is subsisting and, (excluding any pending applications included in the Company Registered Intellectual Property) is valid and enforceable. (b) Except as would not be expected to be material to the Company and its Subsidiaries, taken as a whole, the Company or one of its Subsidiaries owns, free and clear of all Liens (other than Permitted Liens), or has a valid right to use, all Intellectual Property reasonably necessary for the continued conduct of the business of the Company and its Subsidiaries in substantially the same manner as such business has been operated during the twelve (12) months prior to the date hereof, provided that the foregoing shall not be deemed a representation or warranty regarding non-infringement, validity or enforceability of Intellectual Property. (c) The Company and its Subsidiaries (other than any Company Subsidiary or business unit, as applicable, that was acquired within the eighteen (18) month period prior to the date of this Agreement) have not, within the three (3) years preceding the date of this Agreement, infringed upon, misappropriated or otherwise violated and, as of the date of this Agreement, are not infringing upon, misappropriating or otherwise violating any Intellectual Property of any third Person. As of the date of this Agreement, there is no action pending to which the Company or such Subsidiary of the Company is a named party, or to the knowledge of the Company, that is threatened in writing, alleging the Company\u2019s or such Subsidiaries\u2019 infringement, misappropriation or other violation of any Intellectual Property of any third Person and there has not been, within the twelve (12) months preceding the date of this Agreement, any such action brought or threatened in writing. (d) Except as set forth on Section 4.21(d) of the Company Disclosure Letter, to the knowledge of the Company as of the date of this Agreement (i) no Person is infringing upon, misappropriating or otherwise violating any material Intellectual Property of the Company or any of the Company\u2019s Subsidiaries in any material respect, and (ii) the Company and its Subsidiaries have not sent to any Person within the three (3) years preceding the date of this Agreement (or, in the case of any Company Subsidiary or business unit, as applicable, that was acquired within the eighteen (18) period prior to the date of this Agreement, within the twelve (12) months preceding the date of this Agreement) any written notice, charge, complaint, claim or other written assertion against such third Person claiming infringement or violation by or misappropriation of any Intellectual Property of the Company or any of the Company\u2019s Subsidiaries. Field: Page; Sequence: 50; Value: 33 (e) The Company and its Subsidiaries take commercially reasonable measures to protect the confidentiality of trade secrets included in their Intellectual Property that are material to the business of the Company and its Subsidiaries. To the knowledge of the Company, there has not been any material unauthorized disclosure of or unauthorized access to any trade secrets of the Company or any of the Company\u2019s Subsidiaries to or by any Person in a manner that has resulted or may result in the misappropriation of, or loss of trade secret or other rights in and to such information. (f) No government funding, nor any facilities of a university, college, other educational institution or research center, was used in the development of the Intellectual Property owned by the Company or any of the Company\u2019s Subsidiaries and used in connection with the business. (g) With respect to the software used or held for use in the business of the Company and its Subsidiaries, to the knowledge of the Company, no such software contains any undisclosed or hidden device or feature designed to disrupt, disable, or otherwise impair the functioning of any software or any \u201cback door,\u201d \u201ctime bomb\u201d, \u201cTrojan horse,\u201d \u201cworm,\u201d \u201cdrop dead device,\u201d or other malicious code or routines that permit unauthorized access or the unauthorized disablement or erasure of such or other software or information or data (or any parts thereof) of the Company or its Subsidiaries or customers of the Company and its Subsidiaries. (h) The Company\u2019s and its Subsidiaries\u2019 use and distribution of (i) software developed by the Company or any Subsidiary, and (ii) Open Source Materials, is in material compliance with all Open Source Licenses applicable thereto. None of the Company or any Subsidiary of the Company has used any Open Source Materials in a manner that requires any software or Intellectual Property owned by the Company or any of the Company\u2019s Subsidiaries, to be subject to Copyleft Licenses. Section 4.22. Privacy and Cybersecurity. (a) The Company and its Subsidiaries maintain and are in compliance with, and during the three (3) years preceding the date of this Agreement have maintained and been in compliance with, (i) all applicable Laws relating to the privacy and/or security of personal information, (ii) the Company\u2019s and its Subsidiaries\u2019 posted or publicly facing privacy policies, and (iii) the Company\u2019s and its Subsidiaries\u2019 contractual obligations concerning cybersecurity, data security and the security of the Company\u2019s and each of its Subsidiaries\u2019 information technology systems, in each case of (i)-(iii) above, other than any non-compliance that, individually or in the aggregate, has not been and would not reasonably be expected to be material to the Company and its Subsidiaries. There are no Actions by any Person (including any Governmental Authority) pending to which the Company or any of the Company\u2019s Subsidiaries is a named party or, to the knowledge of the Company, threatened in writing against the Company or its Subsidiaries alleging a violation of any third Person\u2019s privacy or personal information rights. Field: Page; Sequence: 51; Value: 33 (b) During the three (3) years preceding the date of this Agreement (i) there have been, no material breaches of the security of the information technology systems of the Company and its Subsidiaries, and (ii) there have been no disruptions in any information technology systems that materially adversely affected the Company\u2019s and its Subsidiaries\u2019 business or operations. The Company and its Subsidiaries take commercially reasonable and legally compliant measures designed to protect confidential, sensitive or personally identifiable information in its possession or control against unauthorized access, use, modification, disclosure or other misuse, including through administrative, technical and physical safeguards. To the knowledge of the Company, neither the Company nor any Subsidiary of the Company has (A) experienced any incident in which such information was stolen or improperly accessed, including in connection with a breach of security, or (B) received any written notice or complaint from any Person with respect to any of the foregoing, nor has any such notice or complaint been threatened in writing against the Company or any of the Company\u2019s Subsidiaries. Section 4.23. Environmental Matters. (a) The Company and its Subsidiaries are and, except for matters which have been fully resolved, have been in material compliance with all Environmental Laws. (b) There has been no material release of any Hazardous Materials by the Company or its Subsidiaries (i) at, in, on or under any Owned Residential Properties or Leased Real Property or in connection with the Company\u2019s and its Subsidiaries\u2019 operations off-site of the Owned Residential Properties or the Leased Real Property or (ii) to the knowledge of the Company, at, in, on or under any formerly owned or Leased Real Property during the time that the Company owned or leased such property or at any other location where Hazardous Materials generated by the Company or any of the Company\u2019s Subsidiaries have been transported to, sent, placed or disposed of. (c) Neither the Company nor its Subsidiaries are subject to any current Governmental Order relating to any material non-compliance with Environmental Laws by the Company or its Subsidiaries or the investigation, sampling, monitoring, treatment, remediation, removal or cleanup of Hazardous Materials. (d) No material Legal Proceeding is pending or, to the knowledge of the Company, threatened with respect to the Company\u2019s and its Subsidiaries\u2019 compliance with or liability under Environmental Laws, and, to the knowledge of the Company, there are no facts or circumstances which could reasonably be expected to form the basis of such a Legal Proceeding. (e) The Company has made available to Acquiror all material environmental reports, assessments, audits and inspections and any material communications or notices from or to any Governmental Authority concerning any material non-compliance of the Company or any of the Company\u2019s Subsidiaries with, or liability of the Company or any of the Company\u2019s Subsidiaries under, Environmental Law. Section 4.24. Absence of Changes. From the date of the most recent balance sheet included in the Financial Statements to the date of this Agreement, there has not been any Company Material Adverse Effect. Field: Page; Sequence: 52; Value: 33 Section 4.25. Anti-Corruption Compliance. (a) For the past three (3) years, neither the Company nor any of its Subsidiaries, nor, to the knowledge of the Company, any director, officer, employee or agent acting on behalf of the Company or any of the Company\u2019s Subsidiaries, has offered or given anything of value to: (i) any official or employee of a Governmental Authority, any political party or official thereof, or any candidate for political office or (ii) any other Person, in any such case while knowing that all or a portion of such money or thing of value will be offered, given or promised, directly or indirectly, to any official or employee of a Governmental Authority or candidate for political office, in each case in violation of the Anti-Bribery Laws. (b) Each of the Company and its Subsidiaries, has instituted and maintains policies and procedures reasonably designed to ensure compliance in all material respects with the Anti-Bribery Laws. (c) To the knowledge of the Company, as of the date hereof, there are no current or pending internal investigations, third party investigations (including by any Governmental Authority), or internal or external audits that address any material allegations or information concerning possible material violations of the Anti-Bribery Laws related to the Company or any of the Company\u2019s Subsidiaries. Section 4.26. Sanctions and International Trade Compliance. (a) The Company and its Subsidiaries (i) are, and have been for the past five (5) years, in compliance in all material respects with all International Trade Laws and Sanctions Laws, and (ii) have obtained all required licenses, consents, notices, waivers, approvals, orders, registrations, declarations, or other authorizations from, and have made any material filings with, any applicable Governmental Authority for the import, export, re-export, deemed export, deemed re-export, or transfer required under the International Trade Laws and Sanctions Laws (the \u201cExport Approvals\u201d). There are no pending or, to the knowledge of the Company, threatened, claims, complaints, charges, investigations, voluntary disclosures or Legal Proceedings against the Company or any of the Company\u2019s Subsidiaries related to any International Trade Laws or Sanctions Laws or any Export Approvals. (b) Neither the Company nor any of its Subsidiaries nor any of their respective directors or officers, or to the knowledge of the Company, employees or any of the Company\u2019s or its Subsidiaries\u2019 respective agents, representatives or other Persons acting on behalf of the Company or any of the Company\u2019s Subsidiaries, (i) is, or has during the past five (5) years, been a Sanctioned Person or (ii) has transacted business directly or knowingly indirectly with any Sanctioned Person or in any Sanctioned Country in violation of Sanctions Laws. Section 4.27. Information Supplied. None of the information supplied or to be supplied by the Company or any of the Company\u2019s Subsidiaries specifically in writing for inclusion in the Registration Statement will, at the date on which the Proxy Statement/Registration Statement is first mailed to the Acquiror Shareholders or at the time of the Acquiror Shareholders\u2019 Meeting, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading. Field: Page; Sequence: 53; Value: 33 Section 4.28. Vendors. (a) Section 4.28(a) of the Company Disclosure Letter sets forth, as of the date of this Agreement, the top twenty (20) vendors based on the aggregate Dollar value of the Company\u2019s and its Subsidiaries\u2019 transaction volume with such counterparty during the trailing twelve months for the period ending December 31, 2019 (the \u201cTop Vendors\u201d). (b) Except as set forth on Section 4.28(b) of the Company Disclosure Letter, none of the Top Vendors has, as of the date of this Agreement, informed in writing any of the Company or any of the Company\u2019s Subsidiaries that it will, or, to the knowledge of the Company, has threatened to, terminate, cancel, or materially limit or materially and adversely modify any of its existing business with the Company or any of the Company\u2019s Subsidiaries (other than due to the expiration of an existing contractual arrangement), and to the knowledge of the Company, none of the Top Vendors is, as of the date of this Agreement, otherwise involved in or threatening a material dispute against the Company or its Subsidiaries or their respective businesses. Section 4.29. Government Contracts. The Company is not party to: (i) any Contract, including an individual task order, delivery order, purchase order, basic ordering agreement, letter Contract or blanket purchase agreement between the Company or any of its Subsidiaries, on one hand, and any Governmental Authority, on the other hand, or (ii) any subcontract or other Contract by which the Company or one of its Subsidiaries has agreed to provide goods or services through a prime contractor directly to a Governmental Authority that is expressly identified in such subcontract or other Contract as the ultimate consumer of such goods or services. None of the Company or any of its Subsidiaries have provided any offer, bid, quotation or proposal to sell products made or services provided by the Company or any of its Subsidiaries that, if accepted or awarded, would lead to any Contract or subcontract of the type described by the foregoing sentence. Section 4.30. Sufficiency of Assets. Except as would not be expected to be material to the Company and its Subsidiaries, taken as a whole, the tangible and intangible assets owned, licensed or leased by the Company and its Subsidiaries constitute all of the assets reasonably necessary for the continued conduct of the business of the Company and its Subsidiaries after the Closing in the ordinary course. Notwithstanding the foregoing, this Section 4.30 shall not be deemed a representation or warranty regarding non-infringement, validity or enforceability of Intellectual Property. Section 4.31. Mortgage Loans. (a) Each Mortgage Loan constitutes a legal, valid and binding obligation of the respective borrower(s) or obligor(s), enforceable, to the knowledge of Company, by the holder thereof in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors\u2019 rights generally and subject, as to enforceability, to general principles of equity. Each Mortgage Loan is evidenced by legal, valid and binding instruments executed by the respective borrower(s) or obligor(s). Field: Page; Sequence: 54; Value: 33 Field: Split-Segment; Name: 5 (b) The Company or a Subsidiary of the Company owns each Mortgage Loan free and clear of any Liens (except for Permitted Liens). (c) No consent of the respective borrower(s) or obligor(s) is required in connection with Acquiror\u2019s or Merger Sub\u2019s execution or delivery of this Agreement or the consummation of the transactions contemplated hereby. (d) Each Mortgage Loan was originated by the Company or a Subsidiary of the Company: (i) in the ordinary course of business and consistent with the Company\u2019s policies and procedures for Mortgage Loan origination and servicing in place at the time such Mortgage Loan was made in all material respects and (ii) in accordance with applicable Law, in all material respects. Each Mortgage Loan is secured by a valid, perfected and enforceable Lien on the secured property described in the applicable mortgage documents evidencing such Mortgage Loan. (e) Each Mortgage Loan has been serviced and administered in all material respects in accordance with (i) applicable Law; (ii) the Company\u2019s loan servicing and operating procedures as in effect from time to time; and (iii) the respective Contract governing each Mortgage Loan. Section 4.32. No Additional Representation or Warranties. 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Company Organization. Each of Acquiror and Merger Sub has been duly incorporated, organized or formed and is validly existing as a corporation or exempted company in good standing (or equivalent status, to the extent that such concept exists) under the Laws of its jurisdiction of incorporation, organization or formation, and has the requisite company power and authority to own, lease or operate all of its properties and assets and to conduct its business as it is now being conducted. The copies of Acquiror\u2019s Governing Documents and the Governing Documents of Merger Sub, in each case, as amended to the date of this Agreement, previously delivered by Acquiror to the Company, are true, correct and complete. Merger Sub has no assets or operations other than those required to effect the transactions contemplated hereby. All of the equity interests of Merger Sub are held directly by Acquiror. Each of Acquiror and Merger Sub is duly licensed or qualified and in good standing as a foreign corporation or company in all jurisdictions in which its ownership of property or the character of its activities is such as to require it to be so licensed or qualified, except where failure to be so licensed or qualified would not reasonably be expected to be, individually or in the aggregate, material to Acquiror. Field: Page; Sequence: 55; Options: NewSection; Value: 49 Section 5.2. Due Authorization. (a) Each of Acquiror and Merger Sub has all requisite corporate power and authority to (a) execute and deliver this Agreement and the documents contemplated hereby, and (b) consummate the transactions contemplated hereby and thereby and perform all obligations to be performed by it hereunder and thereunder. The execution and delivery of this Agreement and the documents contemplated hereby and the consummation of the transactions contemplated hereby and thereby have been (i) duly and validly authorized and approved by the Board of Directors of Acquiror and by Acquiror as the sole shareholder, as applicable, of Merger Sub and (ii) determined by the Board of Directors of Acquiror as advisable to Acquiror and the Acquiror Shareholders and recommended for approval by the Acquiror Shareholders. No other company proceeding on the part of Acquiror or Merger Sub is necessary to authorize this Agreement and the documents contemplated hereby (other than the Acquiror Shareholder Approval). This Agreement has been, and at or prior to the Closing, the other documents contemplated hereby will be, duly and validly executed and delivered by each of Acquiror and Merger Sub, and this Agreement constitutes, and at or prior to the Closing, the other documents contemplated hereby will constitute, a legal, valid and binding obligation of each of Acquiror and Merger Sub, enforceable against Acquiror and Merger Sub in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors\u2019 rights generally and subject, as to enforceability, to general principles of equity. (b) Assuming that a quorum (as determined pursuant to Acquiror\u2019s Governing Documents) is present: (i) each of those Transaction Proposals identified in clauses (A), (B) and (C) of Section 8.2(b) shall require approval by an affirmative vote of the holders of at least two-thirds of the outstanding Acquiror Common Shares entitled to vote, who attend and vote thereupon (as determined in accordance with Acquiror\u2019s Governing Documents) at a shareholders\u2019 meeting duly called by the Board of Directors of Acquiror and held for such purpose; (ii) each of those Transaction Proposals identified in clauses (D), (E), (F), (G), (H), (I), (J), and (K) of Section 8.2(b), in each case, shall require approval by an affirmative vote of the holders of at least a majority of the outstanding Acquiror Common Shares entitled to vote thereupon (as determined in accordance with Acquiror\u2019s Governing Documents) at a shareholders\u2019 meeting duly called by the Board of Directors of Acquiror and held for such purpose; Field: Page; Sequence: 56; Value: 49 (c) The foregoing votes are the only votes of any of Acquiror\u2019s share capital necessary in connection with entry into this Agreement by Acquiror and Merger Sub and the consummation of the transactions contemplated hereby, including the Closing. (d) At a meeting duly called and held, the Board of Directors of Acquiror has unanimously approved the transactions contemplated by this Agreement as a Business Combination. Section 5.3. No Conflict. Subject to the Acquiror Shareholder Approval, the execution and delivery of this Agreement by Acquiror and Merger Sub and the other documents contemplated hereby by Acquiror and Merger Sub and the consummation of the transactions contemplated hereby and thereby do not and will not (a) violate or conflict with any provision of, or result in the breach of or default under the Governing Documents of Acquiror or Merger Sub, (b) violate or conflict with any provision of, or result in the breach of, or default under any applicable Law or Governmental Order applicable to Acquiror or Merger Sub, (c) violate or conflict with any provision of, or result in the breach of, result in the loss of any right or benefit, or cause acceleration, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under any Contract to which Acquiror or Merger Sub is a party or by which Acquiror or Merger Sub may be bound, or terminate or result in the termination of any such Contract or (d) result in the creation of any Lien upon any of the properties or assets of Acquiror or Merger Sub, except, in the case of clauses (b) through (d), to the extent that the occurrence of the foregoing would not (i) have, or would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of Acquiror or Merger Sub to enter into and perform their obligations under this Agreement or (ii) be material to Acquiror. Section 5.4. Litigation and Proceedings. There are no pending or, to the knowledge of Acquiror, threatened Legal Proceedings against Acquiror or Merger Sub, their respective properties or assets, or, to the knowledge of Acquiror, any of their respective directors, managers, officers or employees (in their capacity as such). There are no investigations or other inquiries pending or, to the knowledge of Acquiror, threatened by any Governmental Authority, against Acquiror or Merger Sub, their respective properties or assets, or, to the knowledge of Acquiror, any of their respective directors, managers, officers or employees (in their capacity as such). There is no outstanding Governmental Order imposed upon Acquiror or Merger Sub, nor are any assets of Acquiror\u2019s or Merger Sub\u2019s respective businesses bound or subject to any Governmental Order the violation of which would, individually or in the aggregate, reasonably be expected to be material to Acquiror. As of the date hereof, each of Acquiror and Merger Sub is in compliance with all applicable Laws in all material respects. For the past three (3) years, Acquiror and Merger Sub have not received any written notice of or been charged with the violation of any Laws, except where such violation has not been, individually or in the aggregate, material to Acquiror. Field: Page; Sequence: 57; Value: 49 Section 5.5. SEC Filings. Acquiror has timely filed or furnished all statements, prospectuses, registration statements, forms, reports and documents required to be filed by it with the SEC since April 30, 2020, pursuant to the Exchange Act or the Securities Act (collectively, as they have been amended since the time of their filing through the date hereof, the \u201cAcquiror SEC Filings\u201d). Each of the Acquiror SEC Filings, as of the respective date of its filing, and as of the date of any amendment, complied in all material respects with the applicable requirements of the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and any rules and regulations promulgated thereunder applicable to the Acquiror SEC Filings. As of the respective date of its filing (or if amended or superseded by a filing prior to the date of this Agreement or the Closing Date, then on the date of such filing), the Acquiror SEC Filings did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading. As of the date hereof, there are no outstanding or unresolved comments in comment letters received from the SEC with respect to the Acquiror SEC Filings. To the knowledge of Acquiror, none of the Acquiror SEC Filings filed on or prior to the date hereof is subject to ongoing SEC review or investigation as of the date hereof. Section 5.6. Internal Controls; Listing; Financial Statements. (a) Except as not required in reliance on exemptions from various reporting requirements by virtue of Acquiror\u2019s status as an \u201cemerging growth company\u201d within the meaning of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (\u201cJOBS Act\u201d), Acquiror has established and maintains disclosure controls and procedures (as defined in Rule 13a-15 under the Exchange Act). Such disclosure controls and procedures are designed to ensure that material information relating to Acquiror, including its consolidated Subsidiaries, if any, is made known to Acquiror\u2019s principal executive officer and its principal financial officer by others within those entities, particularly during the periods in which the periodic reports required under the Exchange Act are being prepared. Such disclosure controls and procedures are effective in timely alerting Acquiror\u2019s principal executive officer and principal financial officer to material information required to be included in Acquiror\u2019s periodic reports required under the Exchange Act. Since April 30, 2020, Acquiror has established and maintained a system of internal controls over financial reporting (as defined in Rule 13a-15 under the Exchange Act) sufficient to provide reasonable assurance regarding the reliability of Acquiror\u2019s financial reporting and the preparation of Acquiror Financial Statements for external purposes in accordance with GAAP. (b) Each director and executive officer of Acquiror has filed with the SEC on a timely basis all statements required by Section 16(a) of the Exchange Act and the rules and regulations promulgated thereunder. Acquiror has not taken any action prohibited by Section 402 of the Sarbanes-Oxley Act. (c) Since April 30, 2020, Acquiror has complied in all material respects with the applicable listing and corporate governance rules and regulations of the New York Stock Exchange (the \u201cNYSE\u201d). The Acquiror Class A Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is listed for trading on the NYSE. There is no Legal Proceeding pending or, to the knowledge of Acquiror, threatened against Acquiror by the NYSE or the SEC with respect to any intention by such entity to deregister the Acquiror Class A Common Stock or prohibit or terminate the listing of Acquiror Class A Common Stock on the NYSE. Field: Page; Sequence: 58; Value: 49 (d) The Acquiror SEC Filings contain true and complete copies of the audited balance sheet as of December 31, 2019, and statement of operations, cash flow and shareholders\u2019 equity of Acquiror for the period from October 18, 2019 (inception) through December 31, 2019, together with the auditor\u2019s reports thereon (the \u201cAcquiror Financial Statements\u201d). Except as disclosed in the Acquiror SEC Filings, the Acquiror Financial Statements (i) fairly present in all material respects the financial position of Acquiror, as at the respective dates thereof, and the results of operations and consolidated cash flows for the respective periods then ended, (ii) were prepared in conformity with GAAP applied on a consistent basis during the periods involved (except as may be indicated therein or in the notes thereto), and (iii) comply in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act in effect as of the respective dates thereof. The books and records of Acquiror have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements. (e) There are no outstanding loans or other extensions of credit made by Acquiror to any executive officer (as defined in Rule 3b-7 under the Exchange Act) or director of Acquiror. Acquiror has not taken any action prohibited by Section 402 of the Sarbanes-Oxley Act. (f) Neither Acquiror (including any employee thereof) nor Acquiror\u2019s independent auditors has identified or been made aware of (i) any significant deficiency or material weakness in the system of internal accounting controls utilized by Acquiror, (ii) any fraud, whether or not material, that involves Acquiror\u2019s management or other employees who have a role in the preparation of financial statements or the internal accounting controls utilized by Acquiror or (iii) any claim or allegation regarding any of the foregoing. Section 5.7. Governmental Authorities; Consents. Assuming the truth and completeness of the representations and warranties of the Company contained in this Agreement, no consent, waiver, approval or authorization of, or designation, declaration or filing with, or notification to, any Governmental Authority or other Person is required on the part of Acquiror or Merger Sub with respect to Acquiror\u2019s or Merger Sub\u2019s execution or delivery of this Agreement or the consummation of the transactions contemplated hereby, except for (i) applicable requirements of the HSR Act, (ii) in connection with the Domestication, the applicable requirements and required approval of the Cayman Registrar, and (iii) as otherwise disclosed on Section 5.7 of the Acquiror Disclosure Letter. Section 5.8. Trust Account. As of the date of this Agreement, Acquiror has at least $414,000,000.00 in the Trust Account (including, if applicable, an aggregate of approximately $14,490,000.00 of deferred underwriting commissions and other fees being held in the Trust Account), such monies invested in United States government securities or money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act pursuant to the Investment Management Trust Agreement, dated as of April 27, 2020, between Acquiror and Continental Stock Transfer & Trust Company, as trustee (the \u201cTrustee\u201d) (the \u201cTrust Agreement\u201d). There are no separate Contracts, side letters or other arrangements or understandings (whether written or unwritten, express or implied) that would cause the description of the Trust Agreement in the Acquiror SEC Filings to be inaccurate or that would entitle any Person (other than shareholders of Acquiror holding Acquiror Common Shares sold in Acquiror\u2019s initial public offering who shall have elected to redeem their shares of Acquiror Common Stock pursuant to Acquiror\u2019s Governing Documents and the underwriters of Acquiror\u2019s initial public offering with respect to deferred underwriting commissions) to any portion of the proceeds in the Trust Account. Prior to the Closing, none of the funds held in the Trust Account may be released other than to pay Taxes and payments with respect to all Acquiror Share Redemptions. There are no claims or proceedings pending or, to the knowledge of Acquiror, threatened with respect to the Trust Account. Acquiror has performed all material obligations required to be performed by it to date under, and is not in default, breach or delinquent in performance or any other respect (claimed or actual) in connection with, the Trust Agreement, and no event has occurred which, with due notice or lapse of time or both, would constitute such a default or breach thereunder. As of the Effective Time, the obligations of Acquiror to dissolve or liquidate pursuant to Acquiror\u2019s Governing Documents shall terminate, and as of the Effective Time, Acquiror shall have no obligation whatsoever pursuant to Acquiror\u2019s Governing Documents to dissolve and liquidate the assets of Acquiror by reason of the consummation of the transactions contemplated hereby. To Acquiror\u2019s knowledge, as of the date hereof, following the Effective Time, no Acquiror Shareholder shall be entitled to receive any amount from the Trust Account except to the extent such Acquiror Shareholder is exercising an Acquiror Share Redemption. As of the date hereof, assuming the accuracy of the representations and warranties of the Company contained herein and the compliance by the Company with its obligations hereunder, neither Acquiror or Merger Sub have any reason to believe that any of the conditions to the use of funds in the Trust Account will not be satisfied or funds available in the Trust Account will not be available to Acquiror and Merger Sub on the Closing Date. Field: Page; Sequence: 59; Value: 49 Section 5.9. Investment Company Act; JOBS Act. Acquiror is not an \u201cinvestment company\u201d or a Person directly or indirectly \u201ccontrolled\u201d by or acting on behalf of an \u201cinvestment company\u201d, in each case within the meaning of the Investment Company Act. Acquiror constitutes an \u201cemerging growth company\u201d within the meaning of the JOBS Act. Section 5.10. Absence of Changes. Since April 30, 2020, (a) there has not been any event or occurrence that has had, or would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of Acquiror or Merger Sub to enter into and perform their obligations under this Agreement and (b) except as set forth in Section 5.10 of the Acquiror Disclosure Letter, Acquiror and Merger Sub have, in all material respects, conducted their business and operated their properties in the ordinary course of business consistent with past practice. Section 5.11. No Undisclosed Liabilities. Except for any fees and expenses payable by Acquiror or Merger Sub as a result of or in connection with the consummation of the transactions contemplated hereby, there is no liability, debt or obligation of or claim or judgment against Acquiror or Merger Sub (whether direct or indirect, absolute or contingent, accrued or unaccrued, known or unknown, liquidated or unliquidated, or due or to become due), except for liabilities and obligations (i) reflected or reserved for on the financial statements or disclosed in the notes thereto included in Acquiror SEC Filings, (ii) that have arisen since the date of the most recent balance sheet included in the Acquiror SEC Filings in the ordinary course of business of Acquiror and Merger Sub, or (iii) which would not be, or would not reasonably be expected to be, material to Acquiror. Field: Page; Sequence: 60; Value: 49 Section 5.12. Capitalization of Acquiror. (a) As of the date of this Agreement, the authorized share capital of Acquiror is $55,500.00 divided into (i) 500,000,000 shares of Acquiror Class A Common Stock, 41,400,000 of which are issued and outstanding as of the date of this Agreement, (ii) 50,000,000 shares of Acquiror Class B Common Stock, of which 10,350,000 shares are issued and outstanding as of the date of this Agreement, and (iii) 5,000,000 preferred shares of par value $0.0001 each, of which no shares are issued and outstanding as of the date of this Agreement ((i), (ii) and (iii) collectively, the \u201cAcquiror Securities\u201d). The foregoing represents all of the issued and outstanding Acquiror Securities as of the date of this Agreement. All issued and outstanding Acquiror Securities (i) have been duly authorized and validly issued and are fully paid and non-assessable; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) Acquiror\u2019s Governing Documents, and (2) any other applicable Contracts governing the issuance of such securities; and (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, Acquiror\u2019s Governing Documents or any Contract to which Acquiror is a party or otherwise bound. (b) Subject to the terms of conditions of the Warrant Agreement, the Acquiror Warrants will be exercisable after giving effect to the Merger for one share of Acquiror Common Stock at an exercise price of eleven Dollars fifty cents ($11.50) per share. As of the date of this Agreement, 10,689,119 Acquiror Common Warrants and 6,133,333 Acquiror Private Placement Warrants are issued and outstanding. The Acquiror Warrants are not exercisable until the later of (x) April 30, 2021 and (y) thirty (30) days after the Closing. All outstanding Acquiror Warrants (i) have been duly authorized and validly issued and constitute valid and binding obligations of Acquiror, enforceable against Acquiror in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors\u2019 rights generally and subject, as to enforceability, to general principles of equity; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) Acquiror\u2019s Governing Documents and (2) any other applicable Contracts governing the issuance of such securities; and (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, Acquiror\u2019s Governing Documents or any Contract to which Acquiror is a party or otherwise bound. Except for the Subscription Agreements, Acquiror\u2019s Governing Documents and this Agreement, there are no outstanding Contracts of Acquiror to repurchase, redeem or otherwise acquire any Acquiror Securities. (c) Except as set forth in this Section 5.12 or as contemplated by this Agreement or the other documents contemplated hereby, and other than in connection with the PIPE Investment, Acquiror has not granted any outstanding options, stock appreciation rights, warrants, rights or other securities convertible into or exchangeable or exercisable for Acquiror Securities, or any other commitments or agreements providing for the issuance of additional shares, the sale of treasury shares, for the repurchase or redemption of any Acquiror Securities or the value of which is determined by reference to the Acquiror Securities, and there are no Contracts of any kind which may obligate Acquiror to issue, purchase, redeem or otherwise acquire any of its Acquiror Securities. Field: Page; Sequence: 61; Value: 49 (d) The Aggregate Merger Consideration and the Acquiror Common Shares, when issued in accordance with the terms hereof, shall be duly authorized and validly issued, fully paid and non-assessable and issued in compliance with all applicable state and federal securities Laws and not subject to, and not issued in violation of, any Lien, purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of applicable Law, Acquiror\u2019s Governing Documents, or any Contract to which Acquiror is a party or otherwise bound. (e) On or prior to the date of this Agreement, Acquiror has entered into Subscription Agreements with PIPE Investors, true and correct copies of which have been provided to the Company on or prior to the date of this Agreement, pursuant to which, and on the terms and subject to the conditions of which, such PIPE Investors have agreed, in connection with the transactions contemplated hereby, to purchase from Acquiror, shares of Domesticated Acquiror Common Stock for a PIPE Investment Amount of at least $400,000,000 (such amount, the \u201cMinimum PIPE Investment Amount\u201d), (i) at least $100,000,000 of which is in respect of such shares to be so purchased by one or more SCH PIPE Investors, and (ii) up to $100,000,000 of which shall be in respect of such shares to be so purchased by one or more Company PIPE Investors. On or prior to the date of this Agreement, Acquiror has identified to the Company each of the PIPE Investors that are not also existing stockholders of the Company (or has caused the identification of each such PIPE Investor to the Company) and, to the knowledge of Acquiror, the Company has not exercised its right to reasonably object to any such PIPE Investor as of the date of this Agreement. Such Subscription Agreements are in full force and effect with respect to, and binding on, Acquiror and, to the knowledge of Acquiror, on each PIPE Investor party thereto, in accordance with their terms. (f) Acquiror has no Subsidiaries apart from Merger Sub, and does not own, directly or indirectly, any equity interests or other interests or investments (whether equity or debt) in any Person, whether incorporated or unincorporated. Acquiror is not party to any Contract that obligates Acquiror to invest money in, loan money to or make any capital contribution to any other Person. Section 5.13. Brokers\u2019 Fees. Except fees described on Section 5.13 of the Acquiror Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders\u2019 fee or other commission in connection with the transactions contemplated hereby based upon arrangements made by Acquiror or any of its Affiliates. Section 5.14. Indebtedness. Neither Acquiror nor Merger Sub have any Indebtedness. Section 5.15. Taxes. (a) All material Tax Returns required to be filed by or with respect to Acquiror or Merger Sub have been timely filed (taking into account any applicable extensions), all such Tax Returns (taking into account all amendments thereto) are true, complete and accurate in all material respects and all material Taxes due and payable (whether or not shown on any Tax Return) have been paid, other than Taxes being contested in good faith and for which adequate reserves have been established in accordance with GAAP. Field: Page; Sequence: 62; Value: 49 (b) The Acquiror and its Subsidiaries have withheld from amounts owing to any employee, creditor or other Person all material Taxes required by Law to be withheld, paid over to the proper Governmental Authority in a timely manner all such withheld amounts required to have been so paid over and otherwise complied in all material respects with all applicable withholding and related reporting requirements. (c) There are no Liens for any material Taxes (other than Permitted Liens) upon the property or assets of Acquiror or Merger Sub. (d) No claim, assessment, deficiency or proposed adjustment for any material amount of Tax has been asserted or assessed by any Governmental Authority against Acquiror or Merger Sub that remains unpaid except for claims, assessments, deficiencies or proposed adjustments being contested in good faith and for which adequate reserves have been established in accordance with GAAP. (e) There are no ongoing or pending Legal Proceedings with respect to any material Taxes of Acquiror or Merger Sub and there are no waivers, extensions or requests for any waivers or extensions of any statute of limitations currently in effect with respect to any material Taxes of Acquiror or Merger Sub. (f) No written claim has been made by any Governmental Authority where the Acquiror or Merger Sub does not file Tax Returns that it is or may be subject to taxation in that jurisdiction. (g) Neither the Acquiror nor Merger Sub is a party to any Tax indemnification or Tax sharing or similar agreement (other than any such agreement solely between the Acquiror and/or Merger Sub and customary commercial contracts not primarily related to Taxes that were entered into with persons who are not Affiliates or equity owners of Acquiror). (h) Neither the Acquiror nor Merger Sub has been a party to any transaction treated by the parties as a distribution of stock qualifying for tax-free treatment under Section 355 of the Code in the two years prior to the date of this Agreement. (i) Neither the Acquiror nor Merger Sub is liable for Taxes of any other Person (other than the Acquiror or Merger Sub) under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign Tax Law or as a transferee or successor or by contract (other than customary commercial contracts (or Contracts entered into in the ordinary course of business) not primarily related to Taxes). (j) Neither Acquiror nor Merger Sub has participated in a \u201clisted transaction\u201d within the meaning of Treasury Regulation 1.6011-4(b)(2). (k) Neither the Acquiror nor Merger Sub will be required to include any material amount in taxable income, exclude any material item of deduction or loss from taxable income, or make any adjustment under Section 481 of the Code (or any similar provision of state, local or foreign Law) for any taxable period (or portion thereof) ending after the Closing Date as a result of any (i) installment sale, intercompany transaction described in the Treasury Regulations under Section 1502 of the Code (or any similar provision of state, local or foreign Law) or open transaction disposition made on or prior to the Closing Date, (ii) prepaid amount received or deferred revenue recognized prior to the Closing outside the ordinary course of business, (iii) change in method of accounting for a taxable period ending on or prior to the Closing Date, (iv) \u201cclosing agreement\u201d as described in Section 7121 of the Code (or any similar provision of state, local or foreign Law) executed prior to the Closing, (v) by reason of Section 965(a) of the Code or election pursuant to Section 965(h) of the Code (or any similar provision of state, local or foreign Law), and to the knowledge of Acquiror, the IRS has not proposed any such adjustment or change in accounting method. Field: Page; Sequence: 63; Value: 49 (l) Acquiror and Merger Sub have not taken any action, nor to the knowledge of Acquiror are there any facts or circumstances, that would reasonably be expected to prevent the Merger from qualifying as a \u201creorganization\u201d within the meaning of Section 368(a) of the Code and the Treasury Regulations. Section 5.16. Business Activities. (a) Since formation, neither Acquiror or Merger Sub have conducted any business activities other than activities related to Acquiror\u2019s initial public offering or directed toward the accomplishment of a Business Combination. Except as set forth in Acquiror\u2019s Governing Documents or as otherwise contemplated by this Agreement or the Ancillary Agreements and the transactions contemplated hereby and thereby, there is no agreement, commitment, or Governmental Order binding upon Acquiror or Merger Sub or to which Acquiror or Merger Sub is a party which has or would reasonably be expected to have the effect of prohibiting or impairing any business practice of Acquiror or Merger Sub or any acquisition of property by Acquiror or Merger Sub or the conduct of business by Acquiror or Merger Sub as currently conducted or as contemplated to be conducted as of the Closing, other than such effects, individually or in the aggregate, which have not been and would not reasonably be expected to be material to Acquiror or Merger Sub. (b) Except for Merger Sub and the transactions contemplated by this Agreement and the Ancillary Agreements, Acquiror does not own or have a right to acquire, directly or indirectly, any interest or investment (whether equity or debt) in any corporation, partnership, joint venture, business, trust or other entity. Except for this Agreement and the Ancillary Agreements and the transactions contemplated hereby and thereby, Acquiror has no material interests, rights, obligations or liabilities with respect to, and is not party to, bound by or has its assets or property subject to, in each case whether directly or indirectly, any Contract or transaction which is, or would reasonably be interpreted as constituting, a Business Combination. Except for the transactions contemplated by this Agreement and the Ancillary Agreements, Merger Sub does not own or have a right to acquire, directly or indirectly, any interest or investment (whether equity or debt) in any corporation, partnership, joint venture, business, trust or other entity. (c) Merger Sub was formed solely for the purpose of effecting the transactions contemplated by this Agreement and has not engaged in any business activities or conducted any operations other than in connection with the transactions contemplated hereby and has no, and at all times prior to the Effective Time, except as expressly contemplated by this Agreement, the Ancillary Agreements and the other documents and transactions contemplated hereby and thereby, will have no, assets, liabilities or obligations of any kind or nature whatsoever other than those incident to its formation. Field: Page; Sequence: 64; Value: 49 (d) As of the date hereof and except for this Agreement, the Ancillary Agreements and the other documents and transactions contemplated hereby and thereby (including with respect to expenses and fees incurred in connection therewith), neither Acquiror nor Merger Sub are party to any Contract with any other Person that would require payments by Acquiror or any of its Subsidiaries after the date hereof in excess of $1,000,000 in the aggregate with respect to any individual Contract, other than Working Capital Loans. As of the date hereof, there are no amounts outstanding under any Working Capital Loans. Section 5.17. Stock Market Quotation. As of the date hereof, the Acquiror Class A Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is listed for trading on the NYSE under the symbol \u201cIPOB\u201d. As of the date hereof, the Acquiror Common Warrants are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the NYSE under the symbol \u201cIPOB WS\u201d. As of the Closing, after giving effect to the Domestication and the other transactions contemplated by this Agreement (and by the other agreements contemplated hereby) to occur prior to the Closing, the Domesticated Acquiror Common Stock and the Acquiror Common Warrants will be registered pursuant to Section 12(b) of the Exchange Act and listed for trading on the NYSE or Nasdaq. Acquiror is in compliance with the rules of the NYSE or Nasdaq, as applicable, and there is no Action or proceeding pending or, to the knowledge of Acquiror, threatened against Acquiror by the NYSE, Nasdaq or the SEC with respect to any intention by such entity to deregister the Acquiror Class A Common Stock or Acquiror Warrants or terminate the listing of Acquiror Class A Common Stock or Acquiror Warrants on the NYSE or Nasdaq, as applicable. None of Acquiror, Merger Sub or their respective Affiliates has taken any action in an attempt to terminate the registration of the Acquiror Class A Common Stock or Acquiror Warrants under the Exchange Act except as contemplated by this Agreement. Section 5.18. Registration Statement, Proxy Statement and Proxy Statement/Registration Statement. On the effective date of the Registration Statement, the Registration Statement, and when first filed in accordance with Rule 424(b) and/or filed pursuant to Section 14A, the Proxy Statement and the Proxy Statement/Registration Statement (or any amendment or supplement thereto), shall comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act. On the effective date of the Registration Statement, the Registration Statement will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein not misleading. On the date of any filing pursuant to Rule 424(b) and/or Section 14A, the date the Proxy Statement/Registration Statement and the Proxy Statement, as applicable, is first mailed to the Acquiror Shareholders and certain of the Company\u2019s stockholders, as applicable, and at the time of the Acquiror Shareholders\u2019 Meeting, the Proxy Statement/Registration Statement and the Proxy Statement, as applicable (together with any amendments or supplements thereto) will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that Acquiror makes no representations or warranties as to the information contained in or omitted from the Registration Statement, Proxy Statement or the Proxy Statement/Registration Statement in reliance upon and in conformity with information furnished in writing to Acquiror by or on behalf of the Company specifically for inclusion in the Registration Statement, Proxy Statement or the Proxy Statement/Registration Statement. Field: Page; Sequence: 65; Value: 49 Section 5.19. No Outside Reliance. Notwithstanding anything contained in this Article V or any other provision hereof, each of Acquiror and Merger Sub, and any of their respective directors, managers, officers, employees, equityholders, partners, members or representatives, acknowledge and agree that Acquiror has made its own investigation of the Company and that neither the Company nor any of its Affiliates, agents or representatives is making any representation or warranty whatsoever, express or implied, beyond those expressly given by the Company in Article IV, including any implied warranty or representation as to condition, merchantability, suitability or fitness for a particular purpose or trade as to any of the assets of the Company or its Subsidiaries. Without limiting the generality of the foregoing, it is understood that any cost estimates, financial or other projections or other predictions that may be contained or referred to in the Company Disclosure Letter or elsewhere, as well as any information, documents or other materials (including any such materials contained in any \u201cdata room\u201d (whether or not accessed by Acquiror or its representatives) or reviewed by Acquiror pursuant to the Confidentiality Agreement) or management presentations that have been or shall hereafter be provided to Acquiror or any of its Affiliates, agents or representatives are not and will not be deemed to be representations or warranties of the Company, and no representation or warranty is made as to the accuracy or completeness of any of the foregoing except as may be expressly set forth in Article IV of this Agreement. Except as otherwise expressly set forth in this Agreement, Acquiror understands and agrees that any assets, properties and business of the Company and its Subsidiaries are furnished \u201cas is\u201d, \u201cwhere is\u201d and subject to and except as otherwise provided in the representations and warranties contained in Article IV, with all faults and without any other representation or warranty of any nature whatsoever. Section 5.20. No Additional Representation or Warranties. Except as provided in this Article V, neither Acquiror nor Merger Sub nor any their respective Affiliates, nor any of their respective directors, managers, officers, employees, stockholders, partners, members or representatives has made, or is making, any representation or warranty whatsoever to the Company or its Affiliates and no such party shall be liable in respect of the accuracy or completeness of any information provided to the Company or its Affiliates. Without limiting the foregoing, the Company acknowledges that the Company and its advisors, have made their own investigation of Acquiror, Merger Sub and their respective Subsidiaries and, except as provided in this Article V, are not relying on any representation or warranty whatsoever as to the condition, merchantability, suitability or fitness for a particular purpose or trade as to any of the assets of Acquiror, Merger Sub or any of their respective Subsidiaries, the prospects (financial or otherwise) or the viability or likelihood of success of the business of Acquiror, Merger Sub and their respective Subsidiaries as conducted after the Closing, as contained in any materials provided by Acquiror, Merger Sub or any of their Affiliates or any of their respective directors, officers, employees, shareholders, partners, members or representatives or otherwise. 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Conduct of Business. From the date of this Agreement through the earlier of the Closing or valid termination of this Agreement pursuant to Article X (the \u201cInterim Period\u201d), the Company shall, and shall cause its Subsidiaries to, except as otherwise explicitly contemplated by this Agreement or the Ancillary Agreements or required by Law or as consented to by Acquiror in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied), use reasonable best efforts to operate the business of the Company in the ordinary course consistent with past practice. Without limiting the generality of the foregoing, except as set forth on Section 6.1 of the Company Disclosure Letter or as consented to by Acquiror in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied) the Company shall not, and the Company shall cause its Subsidiaries not to, except as otherwise contemplated by this Agreement (including the Pre-Closing Restructuring Plan) or the Ancillary Agreements or required by Law: (a) change or amend the Governing Documents of the Company or any of the Company\u2019s Subsidiaries or form or cause to be formed any new Subsidiary of the Company; (b) make or declare any dividend or distribution to the stockholders of the Company or make any other distributions in respect of any of the Company Capital Stock or equity interests; (c) split, combine, reclassify, recapitalize or otherwise amend any terms of any shares or series of the Company\u2019s or any of its Subsidiaries\u2019 capital stock or equity interests, except for any such transaction by a wholly owned Subsidiary of the Company that remains a wholly owned Subsidiary of the Company after consummation of such transaction; (d) purchase, repurchase, redeem or otherwise acquire any issued and outstanding share capital, outstanding shares of capital stock, membership interests or other equity interests of the Company or its Subsidiaries, except for (i) the acquisition by the Company or any of its Subsidiaries of any shares of capital stock, membership interests or other equity interests (other than Company Awards) of the Company or its Subsidiaries in connection with the forfeiture or cancellation of such interests and (ii) transactions between the Company and any wholly owned Subsidiary of the Company or between wholly owned Subsidiaries of the Company; (e) enter into, modify in any material respect or terminate (other than expiration in accordance with its terms) any Contract of a type required to be listed on Section 4.12(a) of the Company Disclosure Letter, or any Real Property Lease, in each case, other than in the ordinary course of business consistent with past practice or as required by Law; (f) sell, assign, transfer, convey, lease or otherwise dispose of any material tangible assets or properties of the Company or its Subsidiaries, except for (i) sale of Owned Residential Properties to customers in the ordinary course of business consistent with past practice, (ii) dispositions of obsolete or worthless equipment (iii) transactions among the Company and its wholly owned Subsidiaries or among its wholly owned Subsidiaries and (iv) transactions in the ordinary course of business consistent with past practice; Field: Page; Sequence: 67; Value: 49 (g) acquire any ownership interest in any real property (other than the acquisition of the Owned Residential Properties in the ordinary course of business consistent with past practice); (h) except as otherwise required by Law, existing Company Benefit Plans or the Contracts listed on Section 4.12 of the Company Disclosure Letter, (i) grant any severance, retention, change in control or termination or similar pay, except in connection with the promotion, hiring or termination of employment of any employee of the Company or its Subsidiaries (other than the Persons set forth in Section 6.1(h)(i) of the Company Disclosure Letter (the \u201cExcluded Employees\u201d)) in the ordinary course of business consistent with past practice, (ii) make any change in the key management structure of the Company or any of the Company\u2019s Subsidiaries with respect to any Excluded Employee, including the hiring of additional officers or the termination of existing officers, other than terminations for cause or due to death or disability, (iii) terminate, adopt, enter into or materially amend any Company Benefit Plan, (iv) increase the cash compensation or bonus opportunity of any employee, officer, director or other individual service provider, except in the ordinary course of business consistent with past practice, (v) establish any trust or take any other action to secure the payment of any compensation payable by the Company or any of the Company\u2019s Subsidiaries or (vi) take any action to amend or waive any performance or vesting criteria or to accelerate the time of payment or vesting of any compensation or benefit payable by the Company or any of the Company\u2019s Subsidiaries, except in the ordinary course of business consistent with past practice; (i) acquire by merger or consolidation with, or merge or consolidate with, or purchase substantially all or a material portion of the assets of, any corporation, partnership, association, joint venture or other business organization or division thereof; (j) (i) issue or sell any debt securities or warrants or other rights to acquire any debt securities of the Company or any Subsidiary of the Company or otherwise incur or assume any Indebtedness, or (ii) guarantee any Indebtedness of another Person, except (x) under the Inventory Financing Documents or (y) in the ordinary course of business consistent with past practice; (k) (i) make or change any material election in respect of material Taxes, (ii) materially amend, modify or otherwise change any filed material Tax Return, (iii) adopt or request permission of any taxing authority to change any accounting method in respect of material Taxes, (iv) enter into any closing agreement in respect of material Taxes executed on or prior to the Closing Date or enter into any Tax sharing or similar agreement, (v) settle any claim or assessment in respect of material Taxes, (vi) surrender or allow to expire any right to claim a refund of material Taxes or (vii) consent to any extension or waiver of the limitation period applicable to any claim or assessment in respect of material Taxes or in respect to any material Tax attribute that would give rise to any claim or assessment of Taxes; Field: Page; Sequence: 68; Value: 49 (l) take any action, or knowingly fail to take any action, where such action or failure to act could reasonably be expected to prevent the Merger from qualifying as a \u201creorganization\u201d within the meaning of Section 368(a) of the Code and the Treasury Regulations; (m) issue any additional shares of Company Capital Stock or securities exercisable for or convertible into Company Capital Stock, other than the issuance of Company Common Stock upon the exercise or settlement of Company Options or Restricted Stock Unit Awards in the ordinary course of business under Company Incentive Plan and applicable award agreement, in each case, outstanding on the date of this Agreement in accordance with their terms as in effect as of the date of this Agreement, or grant any additional Company Awards or other equity or equity-based compensation; (n) adopt a plan of, or otherwise enter into or effect a, complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization of the Company or its Subsidiaries (other than the Merger); (o) waive, release, settle, compromise or otherwise resolve any inquiry, investigation, claim, Action, litigation or other Legal Proceedings, except in the ordinary course of business or where such waivers, releases, settlements or compromises involve only the payment of monetary damages in an amount less than $1,000,000 in the aggregate; (p) grant to, or agree to grant to, any Person rights to any Intellectual Property that is material to the Company and its Subsidiaries, or dispose of, abandon or permit to lapse any rights to any Intellectual Property that is material to the Company and its Subsidiaries except for the expiration of Company Registered Intellectual Property in accordance with the applicable statutory term (or in the case of domain names, applicable registration period) or in the reasonable exercise of the Company\u2019s or any of its Subsidiaries\u2019 business judgment as to the costs and benefits of maintaining the item; (q) disclose or agree to disclose to any Person (other than Acquiror or any of its representatives) any trade secret or any other material confidential or proprietary information, know-how or process of the Company or any of its Subsidiaries other than in the ordinary course of business consistent with past practice and pursuant to obligations to maintain the confidentiality thereof; (r) make or commit to make capital expenditures other than in an amount not in excess of the amount set forth on Section 6.1(r) of the Company Disclosure Letter, in the aggregate; (s) manage the Company\u2019s and its Subsidiaries\u2019 working capital (including paying amounts payable in a timely manner when due and payable) in a manner other than in the ordinary course of business consistent with past practice; (t) enter into or extend any collective bargaining agreement or similar labor agreement, other than as required by applicable Law, or recognize or certify any labor union, labor organization, or group of employees of the Company or its Subsidiaries as the bargaining representative for any employees of the Company or its Subsidiaries; Field: Page; Sequence: 69; Value: 49 Field: Split-Segment; Name: 6 (u) terminate without replacement or fail to use reasonable efforts to maintain any License material to the conduct of the business of the Company and its Subsidiaries, taken as a whole; (v) waive the restrictive covenant obligations of any current employee of the Company or any of the Company\u2019s Subsidiaries; (w) (i) limit the right of the Company or any of the Company\u2019s Subsidiaries to engage in any line of business or in any geographic area, to develop, market or sell products or services, or to compete with any Person or (ii) grant any exclusive or similar rights to any Person, in each case, except where such limitation or grant does not, and would not be reasonably likely to, individually or in the aggregate, materially and adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries, taken as a whole; (x) terminate or amend in a manner materially detrimental to the Company or any of the Company\u2019s Subsidiaries any Inventory Financing Documents; (y) terminate without replacement or amend in a manner materially detrimental to the Company and its Subsidiaries, taken as a whole, any insurance policy insuring the business of the Company or any of the Company\u2019s Subsidiaries; or (z) enter into any agreement to do any action prohibited under this Section 6.1. Section 6.2. Inspection. Subject to confidentiality obligations that may be applicable to information furnished to the Company or any of the Company\u2019s Subsidiaries by third parties that may be in the Company\u2019s or any of its Subsidiaries\u2019 possession from time to time, and except for any information that is subject to attorney-client privilege (provided that, to the extent possible, the parties shall cooperate in good faith to permit disclosure of such information in a manner that preserves such privilege or compliance with such confidentiality obligation), and to the extent permitted by applicable Law, (a) the Company shall, and shall cause its Subsidiaries to, afford to Acquiror and its accountants, counsel and other representatives reasonable access during the Interim Period (including for the purpose of coordinating transition planning for employees), during normal business hours and with reasonable advance notice, in such manner as to not materially interfere with the ordinary course of business of the Company and its Subsidiaries, to all of their respective properties, books, Contracts, commitments, Tax Returns, records and appropriate officers and employees of the Company and its Subsidiaries, and shall furnish such representatives with all financial and operating data and other information concerning the affairs of the Company and its Subsidiaries as such representatives may reasonably request; provided, that such access shall not include any unreasonably invasive or intrusive investigations or other testing, sampling or analysis of any properties, facilities or equipment of the Company or its Subsidiaries without the prior written consent of the Company, and (b) the Company shall, and shall cause its Subsidiaries to, provide to Acquiror and, if applicable, its accountants, counsel or other representatives, (x) such information and such other materials and resources relating to any Legal Proceeding initiated, pending or threatened during the Interim Period, or to the compliance and risk management operations and activities of the Company and its Subsidiaries during the Interim Period, in each case, as Acquiror or such representative may reasonably request, (y) prompt written notice of any material status updates in connection with any such Legal Proceedings or otherwise relating to any compliance and risk management matters or decisions of the Company or its Subsidiaries, and (z) copies of any communications sent or received by the Company or its Subsidiaries in connection with such Legal Proceedings, matters and decisions (and, if any such communications occurred orally, the Company shall, and shall cause its Subsidiaries to, memorialize such communications in writing to Acquiror). All information obtained by Acquiror, Merger Sub or their respective representatives pursuant to this Section 6.2 shall be subject to the Confidentiality Agreement. Field: Page; Sequence: 70; Options: NewSection; Value: 64 Section 6.3. Preparation and Delivery of Additional Company Financial Statements. (a) The Company shall act in good faith to deliver to Acquiror, as soon as reasonably practicable following the date hereof, (i) audited consolidated balance sheets and statements of operations, comprehensive loss, stockholders\u2019 equity and cash flows of the Company and its Subsidiaries as of and for the years ended December 31, 2019 and December 31, 2018, together with the auditor\u2019s reports thereon, which comply in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant (the \u201cUpdated Financial Statements\u201d); provided, that upon delivery of such Updated Financial Statements, such financial statements shall be deemed \u201cAudited Financial Statements\u201d for the purposes of this Agreement and the representation and warranties set forth in Section 4.8 shall be deemed to apply to such Audited Financial Statements with the same force and effect as if made as of the date of this Agreement. (b) The Company shall act in good faith to deliver to Acquiror, as soon as reasonably practicable following the date hereof, the unaudited consolidated balance sheets and statements of operations, comprehensive loss, stockholders\u2019 equity, and cash flows of the Company and its Subsidiaries as of and for the six-month period ending June 30, 2020 (the \u201c1H Financial Statements\u201d), which comply with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant; provided, that upon delivery of such 1H Financial Statements, the representations and warranties set forth in Section 4.8 shall be deemed to apply to the 1H Financial Statements with the same force and effect as if made as of the date of this Agreement. (c) If the Effective Time has not occurred prior to November 12, 2020, as soon as reasonably practicable following November 12, 2020, the Company shall deliver to Acquiror the unaudited condensed consolidated balance sheets and statements of operations and comprehensive loss, stockholders\u2019 deficit, and cash flow of the Company and its Subsidiaries as of and for the three- and nine-month period ended September 30, 2020 (the \u201cQ3 Financial Statements\u201d), which comply with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant; provided, that upon delivery of such Q3 Financial Statements, the representations and warranties set forth in Section 4.8 shall be deemed to apply to the Q3 Financial Statements in the same manner as the 1H Financial Statements, mutatis mutandis, with the same force and effect as if made as of the date of this Agreement. (d) If the Effective Time has not occurred prior to March 30, 2021, and this Agreement has not been earlier terminated pursuant to Sections 10.1(e) or 10.1(g) then as soon as reasonably practicable following March 30, 2021, the Company shall deliver to Acquiror the audited consolidated balance sheets and statements of operations and comprehensive loss, cash flow and change in stockholders\u2019 equity of the Company and its Subsidiaries as of and for the years ended December 31, 2020, together with the auditor\u2019s reports thereon (the \u201c2020 Audited Financial Statements\u201d); provided, that upon delivery of such 2020 Audited Financial Statements, the representation and warranties set forth in Section 4.8 shall be deemed to apply to the Audited Financial Statements in the same manner as the Audited Financial Statements, mutatis mutandis, with the same force and effect as if made as of the date of this Agreement. Field: Page; Sequence: 71; Value: 64 Section 6.4. Affiliate Agreements. All Affiliate Agreements set forth on Section 6.4 of the Company Disclosure Letter shall be terminated or settled at or prior to the Closing without further liability to Acquiror, the Company or any of the Company\u2019s Subsidiaries, in each case, except as otherwise set forth on Section 6.4 of the Company Disclosure Letter. Section 6.5. Pre-Closing Restructuring. Prior to the Closing, the Company shall take all such actions as are reasonably necessary so that the Pre-Closing Restructuring shall have been be consummated prior to the Closing in accordance with the terms and subject to the conditions set forth on Section 6.5 of the Company Disclosure Letter (the \u201cPre-Closing Restructuring Plan\u201d). Section 6.6. Acquisition Proposals. From the date hereof until the Closing Date or, if earlier, the termination of this Agreement in accordance with Article X, the Company and its Subsidiaries shall not, and the Company shall instruct and use its reasonable best efforts to cause its representatives, not to (i) initiate any negotiations with any Person with respect to, or provide any non-public information or data concerning the Company or any of the Company\u2019s Subsidiaries to any Person relating to, an Acquisition Proposal or afford to any Person access to the business, properties, assets or personnel of the Company or any of the Company\u2019s Subsidiaries in connection with an Acquisition Proposal, (ii) enter into any acquisition agreement, merger agreement or similar definitive agreement, or any letter of intent, memorandum of understanding or agreement in principle, or any other agreement relating to an Acquisition Proposal, (iii) grant any waiver, amendment or release under any confidentiality agreement or the anti-takeover laws of any state, or (iv) otherwise knowingly facilitate any such inquiries, proposals, discussions, or negotiations or any effort or attempt by any Person to make an Acquisition Proposal." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b186", + "block_sequence": 186, + "block_sha256": "6da30057aeba4bdd7fd1e067c4e998128895958ff880be8b2b848c79c49a1795", + "block_type": "page_number", + "char_count": 63, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 186, + "char_end": 63, + "char_start": 0, + "fragment_sha256": "d20e79c9ee779e8743894ed093a996714de001b0c97b7c48eeff05728343883e", + "heading_path": [ + "TABLE OF CONTENTS", + "COVENANTS OF THE COMPANY" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s33", + "table": null, + "text": "Field: Sequence; 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Employee Matters. (a) Equity Plan. Prior to the Closing Date, Acquiror shall approve and adopt (x) an incentive equity plan in the form attached hereto as Exhibit D (with such changes as may be agreed in writing by Acquiror and the Company) (the \u201cIncentive Equity Plan\u201d), (y) the form Restricted Stock Unit Agreement attached hereto as Exhibit E, and (z) the form employee stock purchase plan attached hereto as Exhibit F (with such changes that may be agreed in writing by Acquiror and the Company) (the \u201cESPP\u201d). Within two (2) Business Days following the expiration of the sixty (60) day period following the date Acquiror has filed current Form 10 information with the SEC reflecting its status as an entity that is not a shell company, Acquiror shall file an effective registration statement on Form S-8 (or other applicable form, including Form S-3) with respect to the Acquiror Common Stock issuable under the Incentive Equity Plan and/or the ESPP, and Acquiror shall use reasonable best efforts to maintain the effectiveness of such registration statement(s) (and maintain the current status of the prospectus or prospectuses contained therein) for so long as awards granted pursuant to the Incentive Equity Plan or acquired under the ESPP remain outstanding. Field: Page; Sequence: 72; Value: 64 (b) No Third-Party Beneficiaries. Notwithstanding anything herein to the contrary, each of the parties to this Agreement acknowledges and agrees that all provisions contained in this Section 7.1 are included for the sole benefit of Acquiror and the Company, and that nothing in this Agreement, whether express or implied, (i) shall be construed to establish, amend, or modify any employee benefit plan, program, agreement or arrangement, (ii) shall limit the right of Acquiror, the Company or their respective Affiliates to amend, terminate or otherwise modify any Company Benefit Plan or other employee benefit plan, agreement or other arrangement following the Closing Date, or (iii) shall confer upon any Person who is not a party to this Agreement (including any equityholder, any current or former director, manager, officer, employee or independent contractor of the Company, or any participant in any Company Benefit Plan or other employee benefit plan, agreement or other arrangement (or any dependent or beneficiary thereof)), any right to continued or resumed employment or recall, any right to compensation or benefits, or any third-party beneficiary or other right of any kind or nature whatsoever. Section 7.2. Trust Account Proceeds and Related Available Equity. (a) If (i) the amount of cash available in the Trust Account following the Acquiror Shareholder Meeting, after deducting the amount required to satisfy the Acquiror Share Redemption Amount (but prior to payment of (x) any deferred underwriting commissions being held in the Trust Account, and (y) any Transaction Expenses or transaction expenses of Acquiror (including transaction expenses incurred, accrued, paid or payable by Acquiror\u2019s Affiliates on Acquiror\u2019s behalf), as contemplated by Section 12.6), (the \u201cTrust Amount\u201d), plus (ii) the PIPE Investment Amount actually received by Acquiror prior to or substantially concurrently with the Closing (the sum of (i) and (ii), the \u201cAvailable Acquiror Cash\u201d), is equal to or greater than $550,000,000 (the \u201cMinimum Available Acquiror Cash Amount\u201d), then the condition set forth in Section 9.3(d) shall be satisfied; provided, that, in each case, the parties to this Agreement do not have any intention as of the Effective Time to use, or to cause to be used, any amount of such Available Acquiror Cash to effect any additional repurchase, redemption or other acquisition of outstanding shares of Acquiror Common Stock within the six (6)-month period after the Closing. (b) Upon satisfaction or waiver of the conditions set forth in Article IX and provision of notice thereof to the Trustee (which notice Acquiror shall provide to the Trustee in accordance with the terms of the Trust Agreement), (i) in accordance with and pursuant to the Trust Agreement, at the Closing, Acquiror (a) shall cause any documents, opinions and notices required to be delivered to the Trustee pursuant to the Trust Agreement to be so delivered and (b) shall use its reasonable best efforts to cause the Trustee to, and the Trustee shall thereupon be obligated to (1) pay as and when due all amounts payable to Acquiror Shareholders pursuant to the Acquiror Share Redemptions, and (2) pay all remaining amounts then available in the Trust Account to Acquiror for immediate use, subject to this Agreement and the Trust Agreement, and (ii) thereafter, the Trust Account shall terminate, except as otherwise provided therein. Field: Page; Sequence: 73; Value: 64 Section 7.3. Listing. From the date hereof through the Effective Time, Acquiror shall ensure Acquiror remains listed as a public company on the NYSE, and shall prepare and submit to NYSE a listing application, if required under NYSE rules, covering the shares of Acquiror Common Stock issuable in the Merger and the Domestication, and shall obtain approval for the listing of such shares of Acquiror Common Stock and the Company shall reasonably cooperate with Acquiror with respect to such listing. Notwithstanding the foregoing, unless the Company otherwise requests in writing, at least three (3) Business Days prior to the initial filing of the Proxy Statement/Registration Statement with the SEC pursuant to Section 8.2(a), Acquiror will delist the Acquiror Common Stock from the NYSE, effective as of no later than the Effective Time, and shall prepare and submit to Nasdaq Capital Market (\u201cNasdaq\u201d) a listing application, in accordance with Nasdaq rules, covering the shares of Acquiror Common Stock issuable in the Merger and the Domestication, and shall obtain approval for the listing of the Acquiror Common Stock on Nasdaq from and after the Effective Time, and the Company shall reasonably cooperate with Acquiror with respect to such listing. Section 7.4. No Solicitation by Acquiror. From the date hereof until the Closing Date or, if earlier, the termination of this Agreement in accordance with Article X, Acquiror shall not, and shall cause its Subsidiaries not to, and Acquiror shall instruct its and their representatives, not to, (i) make any proposal or offer that constitutes a Business Combination Proposal, (ii) initiate any discussions or negotiations with any Person with respect to a Business Combination Proposal or (iii) enter into any acquisition agreement, business combination, merger agreement or similar definitive agreement, or any letter of intent, memorandum of understanding or agreement in principle, or any other agreement relating to a Business Combination Proposal, in each case, other than to or with the Company and its respective representatives. From and after the date hereof, Acquiror shall, and shall instruct its officers and directors to, and Acquiror shall instruct and cause its representatives, its Subsidiaries and their respective representatives to, immediately cease and terminate all discussions and negotiations with any Persons that may be ongoing with respect to a Business Combination Proposal (other than the Company and its representatives). Section 7.5. Acquiror Conduct of Business. (a) During the Interim Period, Acquiror shall, and shall cause Merger Sub to, except as contemplated by this Agreement (including as contemplated by the PIPE Investment), in connection with the Domestication or as consented to by the Company in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied), operate its business in the ordinary course and consistent with past practice. Without limiting the generality of the foregoing, except as consented to by the Company in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied), Acquiror shall not, and Acquiror shall cause Merger Sub not to, except as otherwise contemplated by this Agreement (including as contemplated by the PIPE Investment or in connection with the Domestication) or the Ancillary Agreements or as required by Law: (i) seek any approval from the Acquiror Shareholders, to change, modify or amend the Trust Agreement or the Governing Documents of Acquiror or Merger Sub, except as contemplated by the Transaction Proposals; Field: Page; Sequence: 74; Value: 64 (ii) (x) make or declare any dividend or distribution to the shareholders of Acquiror or make any other distributions in respect of any of Acquiror\u2019s or Merger Sub Capital Stock, share capital or equity interests, (y) split, combine, reclassify or otherwise amend any terms of any shares or series of Acquiror\u2019s or Merger Sub Capital Stock or equity interests, or (z) purchase, repurchase, redeem or otherwise acquire any issued and outstanding share capital, outstanding shares of capital stock, share capital or membership interests, warrants or other equity interests of Acquiror or Merger Sub, other than a redemption of shares of Acquiror Class A Common Stock made as part of the Acquiror Share Redemptions; (iii) make or change any material election in respect of material Taxes, (A) amend, modify or otherwise change any filed material Tax Return, (B) adopt or request permission of any taxing authority to change any accounting method in respect of material Taxes, (C) enter into any closing agreement in respect of material Taxes or enter into any Tax sharing or similar agreement, (D) settle any claim or assessment in respect of material Taxes, (E) surrender or allow to expire any right to claim a refund of material Taxes; or (F) consent to any extension or waiver of the limitation period applicable to any claim or assessment in respect of material Taxes or in respect to any material Tax attribute that would give rise to any claim or assessment of Taxes; (iv) take any action, or knowingly fail to take any action, where such action or failure to act could reasonably be expected to prevent the Merger from qualifying as a \u201creorganization\u201d within the meaning of Section 368(a) of the Code and the Treasury Regulations; (v) other than as expressly required by the Sponsor Support Agreement, enter into, renew or amend in any material respect, any transaction or Contract with an Affiliate of Acquiror or Merger Sub (including, for the avoidance of doubt, (x) the Sponsor and (y) any Person in which the Sponsor has a direct or indirect legal, contractual or beneficial ownership interest of 5% or greater); (vi) incur or assume any Indebtedness or guarantee any Indebtedness of another Person, issue or sell any debt securities or warrants or other rights to acquire any debt securities of the Company or any of the Company\u2019s Subsidiaries or guaranty any debt securities of another Person, other than any indebtedness for borrowed money or guarantee (x) incurred in the ordinary course of business consistent with past practice and in an aggregate amount not to exceed $100,000, (y) incurred between Acquiror and Merger Sub; (vii) incur, guarantee or otherwise become liable for (whether directly, contingently or otherwise) any Indebtedness or otherwise knowingly and purposefully incur, guarantee or otherwise become liable for (whether directly, contingently or otherwise) any other material liabilities, debts or obligations, other than fees and expenses for professional services incurred in support of the transactions contemplated by this Agreement and the Ancillary Agreements or in support of the ordinary course operations of Acquiror (which the parties agree shall include any Indebtedness in respect of any Working Capital Loan incurred in the ordinary course of business); Field: Page; Sequence: 75; Value: 64 (viii) (A) issue any Acquiror Securities or securities exercisable for or convertible into Acquiror Securities, other than the issuance of the Aggregate Merger Consideration, (B) grant any options, warrants or other equity-based awards with respect to Acquiror Securities not outstanding on the date hereof, or (C) amend, modify or waive any of the material terms or rights set forth in any Acquiror Warrant or the Warrant Agreement, including any amendment, modification or reduction of the warrant price set forth therein; or (ix) enter into any agreement to do any action prohibited under this Section 7.5. (b) During the Interim Period, Acquiror shall, and shall cause its Subsidiaries (including Merger Sub) to comply with, and continue performing under, as applicable, Acquiror\u2019s Governing Documents, the Trust Agreement and all other agreements or Contracts to which Acquiror or its Subsidiaries may be a party. Section 7.6. Post-Closing Directors and Officers of Acquiror. Subject to the terms of the Acquiror\u2019s Governing Documents, Acquiror shall take all such action within its power as may be necessary or appropriate such that immediately following the Effective Time: (a) the Board of Directors of Acquiror shall consist of up to seven (7) directors, which shall initially include: (i) one (1) director nominee to be mutually agreed by the parties; (ii) one (1) director nominee (the \u201cSCH Representative\u201d) to be designated by Acquiror pursuant to written notice to be delivered to the Company as soon as reasonably practicable following the date of this Agreement; and (iii) up to five (5) director nominees to be designated by the Company (including Eric Wu as the Chief Executive Officer of the Company) pursuant to written notice to Acquiror as soon as reasonably practicable following the date of this Agreement; (b) the Board of Directors of Acquiror shall have a majority of \u201cindependent\u201d directors for the purposes of NYSE or Nasdaq, as applicable, each of whom shall serve in such capacity in accordance with the terms of the Acquiror\u2019s Governing Documents following the Effective Time; and (c) the initial officers of Acquiror shall be as set forth on Section 2.6 of the Company Disclosure Letter, who shall serve in such capacity in accordance with the terms of Acquiror\u2019s Governing Documents following the Effective Time. Section 7.7. Domestication. Subject to receipt of the Acquiror Shareholder Approval, prior to the Effective Time, Acquiror shall cause the Domestication to become effective, including by (a) filing with the Delaware Secretary of State a Certificate of Domestication with respect to the Domestication, in form and substance reasonably acceptable to Acquiror and the Company, together with the Certificate of Incorporation of Acquiror in the form attached as Exhibit A to this Agreement (with such changes as may be agreed in writing by Acquiror and the Company), in each case, in accordance with the provisions thereof and applicable Law, (b) completing and making and procuring all those filings required to be made with the Cayman Registrar in connection with the Domestication, and (c) obtaining a certificate of de-registration from the Cayman Registrar. In accordance with applicable Law, the Domestication shall provide that at the effective time of the Domestication, by virtue of the Domestication, and without any action on the part of any Acquiror Shareholder, (i) each then issued and outstanding share of Acquiror Class A Common Stock shall convert automatically, on a one-for-one basis, into a share of Domesticated Acquiror Common Stock; (ii) each then issued and outstanding share of Acquiror Class B Common Stock shall convert automatically, on a one-for-one basis, into a share of Domesticated Acquiror Common Stock; (iii) each then issued and outstanding Cayman Acquiror Warrant shall convert automatically into a Domesticated Acquiror Warrant, pursuant to the Warrant Agreement; and (iv) each then issued and outstanding Cayman Acquiror Unit shall convert automatically into a Domesticated Acquiror Unit. Field: Page; Sequence: 76; Value: 64 Section 7.8. Indemnification and Insurance. (a) From and after the Effective Time, Acquiror agrees that it shall indemnify and hold harmless each present and former director and officer of the (x) Company and each of its Subsidiaries (in each case, solely to the extent acting in their capacity as such and to the extent such activities are related to the business of the Company being acquired under this Agreement) (the \u201cCompany Indemnified Parties\u201d) and (y) Acquiror and each of its Subsidiaries (the \u201cAcquiror Indemnified Parties\u201d together with the Company Indemnified Parties, the \u201cD&O Indemnified Parties\u201d) against any costs or expenses (including reasonable attorneys\u2019 fees), judgments, fines, losses, claims, damages or liabilities incurred in connection with any Legal Proceeding, whether civil, criminal, administrative or investigative, arising out of or pertaining to matters existing or occurring at or prior to the Effective Time, whether asserted or claimed prior to, at or after the Effective Time, to the fullest extent that the Company, Acquiror or their respective Subsidiaries, as the case may be, would have been permitted under applicable Law and its respective certificate of incorporation, certificate of formation, bylaws, limited liability company agreement or other organizational documents in effect on the date of this Agreement to indemnify such D&O Indemnified Parties (including the advancing of expenses as incurred to the fullest extent permitted under applicable Law). Without limiting the foregoing, Acquiror shall, and shall cause its Subsidiaries to (i) maintain for a period of not less than six (6) years from the Effective Time provisions in its Governing Documents concerning the indemnification and exoneration (including provisions relating to expense advancement) of Acquiror\u2019s and its Subsidiaries\u2019 former and current officers, directors, employees, and agents that are no less favorable to those Persons than the provisions of the Governing Documents of the Company, Acquiror or their respective Subsidiaries, as applicable, in each case, as of the date of this Agreement, and (ii) not amend, repeal or otherwise modify such provisions in any respect that would adversely affect the rights of those Persons thereunder, in each case, except as required by Law. Acquiror shall assume, and be liable for, each of the covenants in this Section 7.8. (b) For a period of six (6) years from the Effective Time, Acquiror shall maintain in effect directors\u2019 and officers\u2019 liability insurance covering those Persons who are currently covered by Acquiror\u2019s, the Company\u2019s or their respective Subsidiaries\u2019 directors\u2019 and officers\u2019 liability insurance policies (true, correct and complete copies of which have been heretofore made available to Acquiror or its agents or representatives) on terms not less favorable than the terms of such current insurance coverage, except that in no event shall Acquiror be required to pay an annual premium for such insurance in excess of three hundred percent (300%) of the aggregate annual premium payable by Acquiror or the Company, as applicable, for such insurance policy for the year ended December 31, 2019; provided, however, that (i) Acquiror may cause coverage to be extended under the current directors\u2019 and officers\u2019 liability insurance by obtaining a six (6) year \u201ctail\u201d policy containing terms not materially less favorable than the terms of such current insurance coverage with respect to claims existing or occurring at or prior to the Effective Time and (ii) if any claim is asserted or made within such six (6) year period, any insurance required to be maintained under this Section 7.8 shall be continued in respect of such claim until the final disposition thereof. Field: Page; Sequence: 77; Value: 64 (c) Notwithstanding anything contained in this Agreement to the contrary, this Section 7.8 shall survive the consummation of the Merger indefinitely and shall be binding, jointly and severally, on Acquiror and all successors and assigns of Acquiror. In the event that Acquiror or any of its successors or assigns consolidates with or merges into any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or transfers or conveys all or substantially all of its properties and assets to any Person, then, and in each such case, Acquiror shall ensure that proper provision shall be made so that the successors and assigns of Acquiror shall succeed to the obligations set forth in this Section 7.8. (d) On the Closing Date, Acquiror shall enter into customary indemnification agreements reasonably satisfactory to each of the Company and Acquiror with the post-Closing directors and officers of Acquiror, which indemnification agreements shall continue to be effective following the Closing. Section 7.9. Acquiror Public Filings. From the date hereof through the Effective Time, Acquiror will keep current and timely file all reports required to be filed or furnished with the SEC and otherwise comply in all material respects with its reporting obligations under applicable Laws. Section 7.10. PIPE Subscriptions. Unless otherwise approved in writing by the Company (which approval shall not be unreasonably withheld, conditioned or delayed), and except for any of the following actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, reduce the Minimum PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided, that, in the case of any such assignment or transfer, the initial party to such Subscription Agreement remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of shares of Domesticated Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, Acquiror shall use its reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Acquiror the applicable purchase price under each PIPE Investor\u2019s applicable Subscription Agreement in accordance with its terms. Field: Page; Sequence: 78; Value: 64 Section 7.11. Stockholder Litigation. In the event that any litigation related to this Agreement, any Ancillary Agreement or the transactions contemplated hereby or thereby is brought, or, to the knowledge of Acquiror, threatened in writing, against Acquiror or the Board of Directors of Acquiror by any of Acquiror\u2019s stockholders prior to the Closing, Acquiror shall promptly notify the Company of any such litigation and keep the Company reasonably informed with respect to the status thereof. Acquiror shall provide the Company the opportunity to participate in (subject to a customary joint defense agreement), but not control, the defense of any such litigation, shall give due consideration to the Company\u2019s advice with respect to such litigation and shall not settle any such litigation without prior written consent of the Company, such consent not to be unreasonably withheld, conditioned or delayed." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b199", + "block_sequence": 199, + "block_sha256": "14572722cfcf6b93192ff8d578a21bde3bbf2203c55c78c0ab987dcdc7708d93", + "block_type": "page_number", + "char_count": 63, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 199, + "char_end": 63, + "char_start": 0, + "fragment_sha256": "2c36ff77d641cf307ab42c0e2eb81d937cbb0e686572de392e8196bb9ffed732", + "heading_path": [ + "TABLE OF CONTENTS", + "COVENANTS OF ACQUIROR" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", + "table": null, + "text": "Field: Sequence; 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HSR Act; Other Filings. (a) In connection with the transactions contemplated hereby, each of the Company and Acquiror shall (and, to the extent required, shall cause its Affiliates to) comply promptly but in no event later than ten (10) Business Days after the date hereof with the notification and reporting requirements of the HSR Act. Each of the Company and Acquiror shall substantially comply with any Antitrust Information or Document Requests. (b) Each of the Company and Acquiror shall (and, to the extent required, shall cause its Affiliates to) request early termination of any waiting period under the HSR Act and exercise its reasonable best efforts to (i) obtain termination or expiration of the waiting period under the HSR Act and (ii) prevent the entry, in any Legal Proceeding brought by an Antitrust Authority or any other Person, of any Governmental Order which would prohibit, make unlawful or delay the consummation of the transactions contemplated hereby. (c) Acquiror shall cooperate in good faith with Governmental Authorities and undertake promptly any and all action required to complete lawfully the transactions contemplated hereby as soon as practicable (but in any event prior to the Agreement End Date) and any and all action necessary or advisable to avoid, prevent, eliminate or remove the actual or threatened commencement of any proceeding in any forum by or on behalf of any Governmental Authority or the issuance of any Governmental Order that would delay, enjoin, prevent, restrain or otherwise prohibit the consummation of the Merger, including, with the Company\u2019s prior written consent (which consent shall not be unreasonably withheld, conditioned, delayed or denied), (i) proffering and consenting and/or agreeing to a Governmental Order or other agreement providing for (A) the sale, licensing or other disposition, or the holding separate, of particular assets, categories of assets or lines of business of the Company or Acquiror or (B) the termination, amendment or assignment of existing relationships and contractual rights and obligations of the Company or Acquiror and (ii) promptly effecting the disposition, licensing or holding separate of assets or lines of business or the termination, amendment or assignment of existing relationships and contractual rights, in each case, at such time as may be necessary to permit the lawful consummation of the transactions contemplated hereby on or prior to the Agreement End Date. Field: Page; Sequence: 79; Value: 64 (d) With respect to each of the above filings, and any other requests, inquiries, Actions or other proceedings by or from Governmental Authorities, each of the Company and Acquiror shall (and, to the extent required, shall cause its controlled Affiliates to) (i) diligently and expeditiously defend and use reasonable best efforts to obtain any necessary clearance, approval, consent, or Governmental Authorization under Laws prescribed or enforceable by any Governmental Authority for the transactions contemplated by this Agreement and to resolve any objections as may be asserted by any Governmental Authority with respect to the transactions contemplated by this Agreement; and (ii) cooperate fully with each other in the defense of such matters. To the extent not prohibited by Law, the Company shall promptly furnish to Acquiror, and Acquiror shall promptly furnish to the Company, copies of any notices or written communications received by such party or any of its Affiliates from any third party or any Governmental Authority with respect to the transactions contemplated hereby, and each party shall permit counsel to the other parties an opportunity to review in advance, and each party shall consider in good faith the views of such counsel in connection with, any proposed written communications by such party and/or its Affiliates to any Governmental Authority concerning the transactions contemplated hereby; provided, that none of the parties shall extend any waiting period or comparable period under the HSR Act or enter into any agreement with any Governmental Authority without the written consent of the other parties. To the extent not prohibited by Law, the Company agrees to provide Acquiror and its counsel, and Acquiror agrees to provide the Company and its counsel, the opportunity, on reasonable advance notice, to participate in any substantive meetings or discussions, either in person or by telephone, between such party and/or any of its Affiliates, agents or advisors, on the one hand, and any Governmental Authority, on the other hand, concerning or in connection with the transactions contemplated hereby. (e) Each of the Company, on the one hand, and Acquiror, on the other, shall be responsible for and pay one-half of the filing fees payable to the Antitrust Authorities in connection with the transactions contemplated hereby. Field: Page; Sequence: 80; Value: 64 Section 8.2. Preparation of Proxy Statement/Registration Statement; Shareholders\u2019 Meeting and Approvals. (a) Registration Statement and Prospectus. (i) As promptly as practicable after the execution of this Agreement, (x) Acquiror and the Company shall jointly prepare and Acquiror shall file with the SEC, mutually acceptable materials which shall include the proxy statement to be filed with the SEC as part of the Registration Statement and sent to the Acquiror Shareholders relating to the Acquiror Shareholders\u2019 Meeting (such proxy statement, together with any amendments or supplements thereto, the \u201cProxy Statement\u201d), and (y) Acquiror shall prepare (with the Company\u2019s reasonable cooperation (including causing its Subsidiaries and representatives to cooperate)) and file with the SEC the Registration Statement, in which the Proxy Statement will be included as a prospectus (the \u201cProxy Statement/Registration Statement\u201d), in connection with the registration under the Securities Act of (A) the shares of Domesticated Acquiror Common Stock, Domesticated Acquiror Warrants and units comprising such to be issued in exchange for the issued and outstanding shares of Acquiror Class A Common Stock and Acquiror Common Warrants and units comprising such, respectively, in the Domestication, and (B) the shares of Domesticated Acquiror Common Stock that constitute the Aggregate Merger Consideration (collectively, the \u201cRegistration Statement Securities\u201d). Each of Acquiror and the Company shall use its reasonable best efforts to cause the Proxy Statement/Registration Statement to comply with the rules and regulations promulgated by the SEC, to have the Registration Statement declared effective under the Securities Act as promptly as practicable after such filing and to keep the Registration Statement effective as long as is necessary to consummate the transactions contemplated hereby. Acquiror also agrees to use its reasonable best efforts to obtain all necessary state securities law or \u201cBlue Sky\u201d permits and approvals required to carry out the transactions contemplated hereby, and the Company shall furnish all information concerning the Company, its Subsidiaries and any of their respective members or stockholders as may be reasonably requested in connection with any such action. Each of Acquiror and the Company agrees to furnish to the other party all information concerning itself, its Subsidiaries, officers, directors, managers, stockholders, and other equityholders and information regarding such other matters as may be reasonably necessary or advisable or as may be reasonably requested in connection with the Proxy Statement/Registration Statement, a Current Report on Form 8-K pursuant to the Exchange Act in connection with the transactions contemplated by this Agreement, or any other statement, filing, notice or application made by or on behalf of Acquiror, the Company or their respective Subsidiaries to any regulatory authority (including the NYSE or Nasdaq, as applicable) in connection with the Merger and the other transactions contemplated hereby (the \u201cOffer Documents\u201d). Acquiror will cause the Proxy Statement/Registration Statement to be mailed to the Acquiror Shareholders in each case promptly after the Registration Statement is declared effective under the Securities Act. (ii) To the extent not prohibited by Law, Acquiror will advise the Company, reasonably promptly after Acquiror receives notice thereof, of the time when the Proxy Statement/Registration Statement has become effective or any supplement or amendment has been filed, of the issuance of any stop order or the suspension of the qualification of the Acquiror Common Stock for offering or sale in any jurisdiction, of the initiation or written threat of any proceeding for any such purpose, or of any request by the SEC for the amendment or supplement of the Proxy Statement/Registration Statement or for additional information. To the extent not prohibited by Law, the Company and their counsel shall be given a reasonable opportunity to review and comment on the Proxy Statement/Registration Statement and any Offer Document each time before any such document is filed with the SEC, and Acquiror shall give reasonable and good faith consideration to any comments made by the Company and its counsel. To the extent not prohibited by Law, Acquiror shall provide the Company and their counsel with (i) any comments or other communications, whether written or oral, that Acquiror or its counsel may receive from time to time from the SEC or its staff with respect to the Proxy Statement/Registration Statement or Offer Documents promptly after receipt of those comments or other communications and (ii) a reasonable opportunity to participate in the response of Acquiror to those comments and to provide comments on that response (to which reasonable and good faith consideration shall be given), including by participating with the Company or its counsel in any discussions or meetings with the SEC. Field: Page; Sequence: 81; Value: 64 (iii) Each of Acquiror and the Company shall ensure that none of the information supplied by or on its behalf for inclusion or incorporation by reference in (A) the Registration Statement will, at the time the Registration Statement is filed with the SEC, at each time at which it is amended and at the time it becomes effective under the Securities Act, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading or (B) the Proxy Statement will, at the date it is first mailed to the Acquiror Shareholders and at the time of the Acquiror Shareholders\u2019 Meeting, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading. (iv) If at any time prior to the Effective Time any information relating to the Company, Acquiror or any of their respective Subsidiaries, Affiliates, directors or officers is discovered by the Company or Acquiror, which is required to be set forth in an amendment or supplement to the Proxy Statement or the Registration Statement, so that neither of such documents would include any misstatement of a material fact or omit to state any material fact necessary to make the statements therein, with respect to the Proxy Statement, in light of the circumstances under which they were made, not misleading, the party which discovers such information shall promptly notify the other parties and an appropriate amendment or supplement describing such information shall be promptly filed with the SEC and, to the extent required by Law, disseminated to the Acquiror Shareholders. (v) The Registration Statement, to the extent permitted by applicable rules and regulations of the SEC, also will register the resale of the shares of Acquiror Common Stock that constitute the Aggregate Merger Consideration, other than certain equity securities issuable under the Incentive Equity Plan that are based on Acquiror Common Stock and constitute a portion of the Aggregate Merger Consideration, which shall instead be registered pursuant to an effective registration statement on Form S-8 (or other applicable form, including Form S-1 or Form S-3) in accordance with Section 7.1(a). Field: Page; Sequence: 82; Value: 64 (b) Acquiror Shareholder Approval. Acquiror shall (a) as promptly as practicable after the Registration Statement is declared effective under the Securities Act, (i) cause the Proxy Statement to be disseminated to Acquiror Shareholders in compliance with applicable Law, (ii) solely with respect to the following clause (1), duly (1) give notice of and (2) convene and hold a meeting of its shareholders (the \u201cAcquiror Shareholders\u2019 Meeting\u201d) in accordance with Acquiror\u2019s Governing Documents and Section 710 of the NYSE Listing Rules or Nasdaq Listing Rule 5620(b), as applicable, for a date no later than thirty (30) Business Days following the date the Registration Statement is declared effective, and (iii) solicit proxies from the holders of Acquiror Common Stock to vote in favor of each of the Transaction Proposals, and (b) provide its shareholders with the opportunity to elect to effect an Acquiror Share Redemption. Acquiror shall, through its Board of Directors, recommend to its shareholders the (A) approval of the change in the jurisdiction of incorporation of Acquiror to the State of Delaware, (B) approval of the change of Acquiror\u2019s name to \u201cOpendoor Technologies Inc.\u201d, (C) amendment and restatement of Acquiror\u2019s Governing Documents, in the form attached as Exhibits A and B to this Agreement (with such changes as may be agreed in writing by Acquiror and the Company) (as may be subsequently amended by mutual written agreement of the Company and Acquiror at any time before the effectiveness of the Registration Statement) in connection with the Domestication, including any separate or unbundled proposals as are required to implement the foregoing, (D) the adoption and approval of this Agreement in accordance with applicable Law and exchange rules and regulations, (E) approval of the issuance of shares of Acquiror Common Stock in connection with the Domestication and Merger, (F) approval of the issuance of more than one percent (1%) of Acquiror\u2019s outstanding common stock to a \u201crelated party\u201d pursuant to the rules of the NYSE or Nasdaq, as applicable, as contemplated by the Subscription Agreements with the applicable PIPE Investors, (G) approval of the adoption by Acquiror of the equity plans described in Section 7.1, (H) the election of directors effective as of the Closing as contemplated by Section 7.6, (I) adoption and approval of any other proposals as the SEC (or staff member thereof) may indicate are necessary in its comments to the Registration Statement or correspondence related thereto, (J) adoption and approval of any other proposals as reasonably agreed by Acquiror and the Company to be necessary or appropriate in connection with the transactions contemplated hereby, and (K) adjournment of the Acquiror Shareholders\u2019 Meeting, if necessary, to permit further solicitation of proxies because there are not sufficient votes to approve and adopt any of the foregoing (such proposals in (A) through (K), together, the \u201cTransaction Proposals\u201d), and include such recommendation in the Proxy Statement. The Board of Directors of Acquiror shall not withdraw, amend, qualify or modify its recommendation to the shareholders of Acquiror that they vote in favor of the Transaction Proposals (together with any withdrawal, amendment, qualification or modification of its recommendation to the shareholders of Acquiror described in the Recitals hereto, a \u201cModification in Recommendation\u201d). To the fullest extent permitted by applicable Law, (x) Acquiror\u2019s obligations to establish a record date for, duly call, give notice of, convene and hold the Acquiror Shareholders\u2019 Meeting shall not be affected by any Modification in Recommendation, (y) Acquiror agrees to establish a record date for, duly call, give notice of, convene and hold the Acquiror Shareholders\u2019 Meeting and submit for approval the Transaction Proposals and (z) Acquiror agrees that if the Acquiror Shareholder Approval shall not have been obtained at any such Acquiror Shareholders\u2019 Meeting, then Acquiror shall promptly continue to take all such necessary actions, including the actions required by this Section 8.2(b), and hold additional Acquiror Shareholders\u2019 Meetings in order to obtain the Acquiror Shareholder Approval. Acquiror may only adjourn the Acquiror Shareholders\u2019 Meeting (i) to solicit additional proxies for the purpose of obtaining the Acquiror Shareholder Approval, (ii) for the absence of a quorum and (iii) to allow reasonable additional time for the filing or mailing of any supplemental or amended disclosure that Acquiror has determined in good faith after consultation with outside legal counsel is required under applicable Law and for such supplemental or amended disclosure to be disseminated and reviewed by Acquiror Shareholders prior to the Acquiror Shareholders\u2019 Meeting; provided, that the Acquiror Shareholders\u2019 Meeting (x) may not be adjourned to a date that is more than fifteen (15) days after the date for which the Acquiror Shareholders\u2019 Meeting was originally scheduled (excluding any adjournments required by applicable Law) and (y) shall not be held later than three (3) Business Days prior to the Agreement End Date. Acquiror agrees that it shall provide the holders of shares of Acquiror Class A Common Stock the opportunity to elect redemption of such shares of Acquiror Class A Common Stock in connection with the Acquiror Shareholders\u2019 Meeting, as required by Acquiror\u2019s Governing Documents. Field: Page; Sequence: 83; Value: 64 (c) Company Stockholder Approvals. Upon the terms set forth in this Agreement, the Company shall (i) use its reasonable best efforts to solicit and obtain the Company Stockholder Approvals in the form of an irrevocable written consent (the \u201cWritten Consent\u201d) of each of the Requisite Company Stockholders (pursuant to the Company Holders Support Agreement) promptly following the time at which the Registration Statement shall have been declared effective under the Securities Act and delivered or otherwise made available to stockholders, or (ii) in the event the Company is not able to obtain the Written Consent, the Company shall duly convene a meeting of the stockholders of the Company for the purpose of voting solely upon the adoption of this Agreement, the other agreements contemplated hereby and the transactions contemplated hereby and thereby, including the Merger, as soon as reasonably practicable after the Registration Statement is declared effective. The Company shall obtain the Company Stockholder Approvals at such meeting of the stockholders of the Company and shall take all other action necessary or advisable to secure the Company Stockholder Approvals as soon as reasonably practicable after the Registration Statement is declared effective. Section 8.3. Support of Transaction. Without limiting any covenant contained in Article VI, or Article VII Acquiror and the Company shall each, and each shall cause its Subsidiaries to (a) use reasonable best efforts to obtain all material consents and approvals of third parties that any of Acquiror, or the Company or their respective Affiliates are required to obtain in order to consummate the Merger, and (b) take such other action as may be reasonably necessary or as another party hereto may reasonably request to satisfy the conditions of Article IX or otherwise to comply with this Agreement and to consummate the transactions contemplated hereby as soon as practicable. Notwithstanding anything to the contrary contained herein, no action taken by the Company under this Section 8.3 will constitute a breach of Section 6.1. Section 8.4. Tax Matters. All transfer, documentary, sales, use, real property, stamp, registration and other similar Taxes, fees and costs (including any associated penalties and interest) (\u201cTransfer Taxes\u201d) incurred in connection with this Agreement shall constitute Transaction Expenses. Section 8.5. Section 16 Matters. Prior to the Effective Time, each of the Company and Acquiror shall take all such steps as may be required (to the extent permitted under applicable Law) to cause any dispositions of shares of the Company Capital Stock or acquisitions of Acquiror Common Shares (including, in each case, securities deliverable upon exercise, vesting or settlement of any derivative securities) resulting from the transactions contemplated hereby by each individual who may become subject to the reporting requirements of Section 16(a) of the Exchange Act in connection with the transactions contemplated hereby to be exempt under Rule B-3 promulgated under the Exchange Act. Field: Page; Sequence: 84; Value: 64 Section 8.6. Cooperation; Consultation. (a) Prior to Closing, each of the Company and Acquiror shall, and each of them shall cause its respective Subsidiaries (as applicable) and its and their officers, directors, managers, employees, consultants, counsel, accounts, agents and other representatives to, reasonably cooperate in a timely manner in connection with any financing arrangement the parties mutually agree to seek in connection with the transactions contemplated by this Agreement (it being understood and agreed that the consummation of any such financing by the Company or Acquiror shall be subject to the parties\u2019 mutual agreement), including (if mutually agreed by the parties) (a) by providing such information and assistance as the other party may reasonably request, (b) granting such access to the other party and its representatives as may be reasonably necessary for their due diligence, and (c) participating in a reasonable number of meetings, presentations, road shows, drafting sessions, due diligence sessions with respect to such financing efforts (including direct contact between senior management and other representatives of the Company and its Subsidiaries at reasonable times and locations). All such cooperation, assistance and access shall be granted during normal business hours and shall be granted under conditions that shall not unreasonably interfere with the business and operations of the Company, Acquiror, or their respective auditors. (b) From the date of the announcement of this Agreement or the transactions contemplated hereby (pursuant to any applicable public communication made in compliance with Section 12.12), until the Closing Date, Acquiror shall use its reasonable best efforts to, and shall instruct its financial advisors to, keep the Company and its financial advisors reasonably informed with respect to the PIPE Investment and the rotation of the Acquiror Common Shares during such period, including by (i) providing regular updates and (ii) consulting and cooperating with, and considering in good faith any feedback from, the Company or its financial advisors with respect to such matters; provided, that each of Acquiror and the Company acknowledges and agrees that none of their respective financial advisors shall be entitled to any fees with respect to the PIPE Investment unless otherwise mutually agreed by the Company and Acquiror in writing; provided, further, that the Company\u2019s financial advisors shall, at the option of such financial advisors, be credited as a placement agent with respect to the PIPE Investment." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b216", + "block_sequence": 216, + "block_sha256": "d85f76d88b39dc5b6da424df90bbde54d8d8d5d100cadf596b3e5a926bd3a3d7", + "block_type": "page_number", + "char_count": 63, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 216, + "char_end": 63, + "char_start": 0, + "fragment_sha256": "19d985bce6317e2b8889ba8c66033f637656020762d56faa1e5a30b9a6b55412", + "heading_path": [ + "TABLE OF CONTENTS", + "JOINT COVENANTS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", + "table": null, + "text": "Field: Sequence; 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Conditions to Obligations of Acquiror, Merger Sub, and the Company. The obligations of Acquiror, Merger Sub, and the Company to consummate, or cause to be consummated, the Merger is subject to the satisfaction of the following conditions, any one or more of which may be waived in writing by all of such parties: (a) The Acquiror Shareholder Approval shall have been obtained; (b) The Company Stockholder Approvals shall have been obtained; (c) The Registration Statement shall have become effective under the Securities Act and no stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the SEC and not withdrawn; Field: Page; Sequence: 85 Field: Split-Segment; Name: 7 (d) The waiting period or periods under the HSR Act applicable to the transactions contemplated by this Agreement and the Ancillary Agreements shall have expired or been terminated; (e) There shall not be in force any Governmental Order, statute, rule or regulation enjoining or prohibiting the consummation of the Merger; provided, that the Governmental Authority issuing such Governmental Order has jurisdiction over the parties hereto with respect to the transactions contemplated hereby; (f) Acquiror shall have at least $5,000,001 of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act); (g) The shares of Domesticated Acquiror Common Stock to be issued in connection with the Merger shall have been approved for listing on the Nasdaq or, if requested by the Company pursuant to Section 7.3, NYSE; and (h) The sum of (x) the Trust Amount plus (y) the Third-Party PIPE Investment Amount, is equal to or greater than $200,000,000. Section 9.2. Conditions to Obligations of Acquiror and Merger Sub. The obligations of Acquiror and Merger Sub to consummate, or cause to be consummated, the Merger are subject to the satisfaction of the following additional conditions, any one or more of which may be waived in writing by Acquiror and Merger Sub: (a) (i) The representations and warranties of the Company contained in the first sentence of Section 4.6(a) shall be true and correct in all but de minimis respects as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all but de minimis respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement or the Ancillary Agreements, (ii) the Company Fundamental Representations (other than the first sentence of Section 4.6(a)) shall be true and correct in all material respects, in each case as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all material respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement or the Ancillary Agreements, and (iii) each of the representations and warranties of the Company contained in this Agreement other than the Company Fundamental Representations (disregarding any qualifications and exceptions contained therein relating to materiality, material adverse effect and Company Material Adverse Effect or any similar qualification or exception) shall be true and correct as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct at and as of such date, except for, in each case, inaccuracies or omissions that would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect; provided, that, for purposes of this Section 9.2(a) only, the representations and warranties set forth in Section 4.8(c) and Section 4.9 shall be true and correct solely as of the date of this Agreement, except for, in each case, inaccuracies or omissions that would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect; provided, further, that for purposes of this Section 9.2(a), no Event that is contemplated by the Pre-Closing Restructuring Plan shall be deemed to constitute an inaccuracy in or breach of any such representations and warranties; Field: Page; Sequence: 86; Options: NewSection; Value: 80 (b) Each of the covenants of the Company to be performed as of or prior to the Closing shall have been performed in all material respects; provided, that for purposes of this Section 9.2(b), a covenant of the Company shall only be deemed to have not been performed if the Company has materially breached such material covenant and failed to cure within twenty (20) days after notice (or if earlier, the Agreement End Date); provided, further, that no action that is contemplated by the Pre-Closing Restructuring Plan may be deemed to constitute nonperformance of such material covenant; and (c) The Pre-Closing Restructuring shall have been completed as of immediately prior to the Closing in accordance with the Pre-Closing Restructuring Plan. Section 9.3. Conditions to the Obligations of the Company. The obligation of the Company to consummate, or cause to be consummated, the Merger is subject to the satisfaction of the following additional conditions, any one or more of which may be waived in writing by the Company: (a) (i) The representations and warranties of Acquiror contained in Section 5.12 shall be true and correct in all but de minimis respects as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all but de minimis respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement and (ii) each of the representations and warranties of Acquiror contained in this Agreement (other than Section 5.12) (disregarding any qualifications and exceptions contained therein relating to materiality, material adverse effect or any similar qualification or exception) shall be true and correct in all material respects, in each case as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all material respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement or the Ancillary Agreements; (b) Each of the covenants of Acquiror to be performed as of or prior to the Closing shall have been performed in all material respects; (c) The Domestication shall have been completed as provided in Section 7.7 and a time-stamped copy of the certificate issued by the Secretary of State of the State of Delaware in relation thereto shall have been delivered to the Company; and (d) The Available Acquiror Cash shall be no less than the Minimum Available Acquiror Cash Amount. 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Termination. This Agreement may be terminated and the transactions contemplated hereby abandoned: (a) by written consent of the Company and Acquiror; (b) by the Company or Acquiror if any Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Governmental Order which has become final and nonappealable and has the effect of making consummation of the Merger illegal or otherwise preventing or prohibiting consummation of the Merger; (c) by the Company if the Acquiror Shareholder Approval shall not have been obtained by reason of the failure to obtain the required vote at the Acquiror Shareholders\u2019 Meeting duly convened therefor or at any adjournment or postponement thereof; (d) by the Company if there has been a Modification in Recommendation; (e) prior to the Closing by written notice to the Company from Acquiror if (i) there is any breach of any representation, warranty, covenant or agreement on the part of the Company set forth in this Agreement, such that the conditions specified in Section 9.2(a) or Section 9.2(b) would not be satisfied at the Closing (a \u201cTerminating Company Breach\u201d), except that, if such Terminating Company Breach is curable by the Company through the exercise of its reasonable best efforts, then, for a period of up to thirty (30) days after receipt by the Company of notice from Acquiror of such breach, but only as long as the Company continues to use its respective reasonable best efforts to cure such Terminating Company Breach (the \u201cCompany Cure Period\u201d), such termination shall not be effective, and such termination shall become effective only if the Terminating Company Breach is not cured within the Company Cure Period, or (ii) the Closing has not occurred on or before the date that is one hundred eighty (180) days after the date of this Agreement (the \u201cAgreement End Date\u201d), unless Acquiror is in material breach hereof; (f) by Acquiror if the Company Stockholder Approvals shall not have been obtained within five (5) Business Days after the Registration Statement has been declared effective by the SEC and delivered or otherwise made available to stockholders; or (g) prior to the Closing, by written notice to Acquiror from the Company if (i) there is any breach of any representation, warranty, covenant or agreement on the part of Acquiror or Merger Sub set forth in this Agreement, such that the conditions specified in Section 9.3(a) and Section 9.3(b) would not be satisfied at the Closing (a \u201cTerminating Acquiror Breach\u201d), except that, if any such Terminating Acquiror Breach is curable by Acquiror through the exercise of its reasonable best efforts, then, for a period of up to thirty (30) days after receipt by Acquiror of notice from the Company of such breach, but only as long as Acquiror continues to exercise such reasonable best efforts to cure such Terminating Acquiror Breach (the \u201cAcquiror Cure Period\u201d), such termination shall not be effective, and such termination shall become effective only if the Terminating Acquiror Breach is not cured within the Acquiror Cure Period or (ii) the Closing has not occurred on or before the Agreement End Date, unless the Company is in material breach hereof. Field: Page; Sequence: 88; Value: 80 Section 10.2. Effect of Termination. In the event of the termination of this Agreement pursuant to Section 10.1, this Agreement shall forthwith become void and have no effect, without any liability on the part of any party hereto or its respective Affiliates, officers, directors or stockholders, other than liability of the Company, Acquiror or Merger Sub, as the case may be, for any willful and material breach of this Agreement occurring prior to such termination, except that the provisions of this Section 10.2 and Article XII and the Confidentiality Agreement shall survive any termination of this Agreement." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b240", + "block_sequence": 240, + "block_sha256": "9ece3f856e54396b5c9ca2330221166c794e6dee87399331d2829eb6ed18e876", + "block_type": "page_number", + "char_count": 63, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 240, + "char_end": 63, + "char_start": 0, + "fragment_sha256": "c0dee826efbd660713e8c42cc02bef6156e1b8c12fe751e10ec4baec43701146", + "heading_path": [ + "TABLE OF CONTENTS", + "TERMINATION/EFFECTIVENESS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s41", + "table": null, + "text": "Field: Sequence; Type: Arabic; Name: PageNo 82 Field: /Sequence" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b241", + "block_sequence": 241, + "block_sha256": "a4a0da7ffa20880ba8536f6d36a8e31f3a6c65cea9d52b164b3cfb34a70d2ed7", + "block_type": "page_header", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 241, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "f87e94434c8ecfa5261f62dc4b4f350bdc99a3e8d6f1f5e359ecec8489223103", + "heading_path": [ + "TABLE OF CONTENTS", + "TERMINATION/EFFECTIVENESS" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s41", + "table": null, + "text": "Field: /Page" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b242", + "block_sequence": 242, + "block_sha256": "c00610247b20d6897f9e43b32ee22c3ce56f7f30769dcb56c61b29e026f61d0e", + "block_type": "heading", + "char_count": 10, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 242, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "d6dd334dd04a8b129f622cc29116cbb7c162bb24a5fc543c1abde852eb0d00ef", + "heading_path": [ + "TABLE OF CONTENTS", + "TERMINATION/EFFECTIVENESS", + "Article XI" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s42", + "table": null, + "text": "Article XI" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b243", + "block_sequence": 243, + "block_sha256": "00a5a44e8028c61228d5912458e2f8e789a054925e27b81b66cd4fa2f1866cd2", + "block_type": "heading", + "char_count": 37, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 243, + "char_end": 37, + "char_start": 0, + "fragment_sha256": "1031915c49dd9a7bf342c783e9b4e3254f403b537f2e4d2ca148acbde20c1ca6", + "heading_path": [ + "TABLE OF CONTENTS", + "REPRESENTATION AND WARRANTY INSURANCE" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s43", + "table": null, + "text": "REPRESENTATION AND WARRANTY INSURANCE" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b244", + "block_sequence": 244, + "block_sha256": "16326ebbfbf2d739c2dc8536cbcc8a6078c6cdf469544f320b1744715cc2f327", + "block_type": "paragraph", + "char_count": 1663, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 244, + "char_end": 1663, + "char_start": 0, + "fragment_sha256": "289c079c99fdd24aadef6988e936c37d39d08308516e4bb33f874318e6c47026", + "heading_path": [ + "TABLE OF CONTENTS", + "REPRESENTATION AND WARRANTY INSURANCE" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s43", + "table": null, + "text": "Section 11.1. R&W Insurance Policy. (a) Prior to the Closing, Acquiror may, in its sole discretion, obtain and bind a representation and warranty insurance policy (the \u201cR&W Insurance Policy\u201d) with respect to the representations and warranties of the Company set forth in this Agreement. The Company and its Subsidiaries\u2019 shall cooperate with, and provide assistance to, Acquiror in its efforts to obtain the R&W Insurance Policy. All of the costs to obtain the R&W Insurance Policy shall be paid as contemplated by Section 12.6. (b) In the event that the R&W Insurance Policy that Acquiror decides, in its sole discretion, to purchase only covers the pro rata portion of losses attributable to Acquiror Shareholders, the Company agrees that it will take such actions requested by Acquiror as are reasonably necessary to ensure that any proceeds paid pursuant to the R&W Insurance Policy are paid only to the Acquiror Shareholders, including by agreeing to amendments to this Agreement to provide the Acquiror Shareholders a non-transferrable, contractual contingent value right to such proceeds, and ensuring that the Surviving Corporation pays any such proceeds received pursuant to the R&W Insurance Policy to the Acquiror Shareholders in accordance with such contingent value right. (c) The SCH Representative shall serve as representative of the Acquiror Shareholders from and after the Effective Time and shall act on behalf of the Acquiror Shareholders to take all necessary actions and make all decisions and direct all actions of Acquiror related to the rights of the Acquiror Shareholders pursuant to this Article XI. 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Trust Account Waiver. The Company acknowledges that Acquiror is a blank check company with the powers and privileges to effect a Business Combination. The Company further acknowledges that, as described in the prospectus dated April 27, 2020 (the \u201cProspectus\u201d) available at www.sec.gov, substantially all of Acquiror assets consist of the cash proceeds of Acquiror\u2019s initial public offering and private placements of its securities and substantially all of those proceeds have been deposited in a the trust account for the benefit of Acquiror, certain of its public stockholders and the underwriters of Acquiror\u2019s initial public offering (the \u201cTrust Account\u201d). The Company acknowledges that it has been advised by Acquiror that, except with respect to interest earned on the funds held in the Trust Account that may be released to Acquiror to pay its franchise Tax, income Tax and similar obligations, the Trust Agreement provides that cash in the Trust Account may be disbursed only (i) if Acquiror completes the transactions which constitute a Business Combination, then to those Persons and in such amounts as described in the Prospectus; (ii) if Acquiror fails to complete a Business Combination within the allotted time period and liquidates, subject to the terms of the Trust Agreement, to Acquiror in limited amounts to permit Acquiror to pay the costs and expenses of its liquidation and dissolution, and then to Acquiror\u2019s public stockholders; and (iii) if Acquiror holds a shareholder vote to amend Acquiror\u2019s amended and restated memorandum and articles of association to modify the substance or timing of the obligation to redeem 100% of Acquiror Common Shares if Acquiror fails to complete a Business Combination within the allotted time period, then for the redemption of any Acquiror Common Shares properly tendered in connection with such vote. For and in consideration of Acquiror entering into this Agreement, the receipt and sufficiency of which are hereby acknowledged, the Company hereby irrevocably waives any right, title, interest or claim of any kind they have or may have in the future in or to any monies in the Trust Account and agree not to seek recourse against the Trust Account or any funds distributed therefrom as a result of, or arising out of, this Agreement and any negotiations, Contracts or agreements with Acquiror; provided, that (x) nothing herein shall serve to limit or prohibit the Company\u2019s right to pursue a claim against Acquiror for legal relief against monies or other assets held outside the Trust Account, for specific performance or other equitable relief in connection with the consummation of the transactions (including a claim for Acquiror to specifically perform its obligations under this Agreement and cause the disbursement of the balance of the cash remaining in the Trust Account (after giving effect to the Acquiror Share Redemptions) to the Company in accordance with the terms of this Agreement and the Trust Agreement) so long as such claim would not affect Acquiror\u2019s ability to fulfill its obligation to effectuate the Acquiror Share Redemptions, or for fraud and (y) nothing herein shall serve to limit or prohibit any claims that the Company may have in the future against Acquiror\u2019s assets or funds that are not held in the Trust Account (including any funds that have been released from the Trust Account and any assets that have been purchased or acquired with any such funds). Section 12.2. Waiver. Any party to this Agreement may, at any time prior to the Closing, by action taken by its Board of Directors, Board of Managers, Managing Member or other officers or Persons thereunto duly authorized, (a) extend the time for the performance of the obligations or acts of the other parties hereto, (b) waive any inaccuracies in the representations and warranties (of another party hereto) that are contained in this Agreement or (c) waive compliance by the other parties hereto with any of the agreements or conditions contained in this Agreement, but such extension or waiver shall be valid only if set forth in an instrument in writing signed by the party granting such extension or waiver. Section 12.3. Notices. 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Hamill |\n| | Joshua M. Dubofsky |\n| | Kristen Grannis |\n| Email: | justin.hamill@lw.com |\n| | josh.dubofsky@lw.com |\n| | kristen.grannis@lw.com |", + "n_cols": 2, + "n_rows": 9, + "plain_text": "Latham & Watkins LLP | \n885 Third Avenue | \nNew York, New York 10022 | \nAttention: | Justin G. Hamill\n | Joshua M. Dubofsky\n | Kristen Grannis\nEmail: | justin.hamill@lw.com\n | josh.dubofsky@lw.com\n | kristen.grannis@lw.com", + "rows": [ + [ + "Latham & Watkins LLP", + "" + ], + [ + "885 Third Avenue", + "" + ], + [ + "New York, New York 10022", + "" + ], + [ + "Attention:", + "Justin G. Hamill" + ], + [ + "", + "Joshua M. Dubofsky" + ], + [ + "", + "Kristen Grannis" + ], + [ + "Email:", + "justin.hamill@lw.com" + ], + [ + "", + "josh.dubofsky@lw.com" + ], + [ + "", + "kristen.grannis@lw.com" + ] + ], + "table_index": 5, + "table_kind": "data" + }, + "text": "Latham & Watkins LLP | \n885 Third Avenue | \nNew York, New York 10022 | \nAttention: | Justin G. Hamill\n | Joshua M. Dubofsky\n | Kristen Grannis\nEmail: | justin.hamill@lw.com\n | josh.dubofsky@lw.com\n | kristen.grannis@lw.com" + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b259", + "block_sequence": 259, + "block_sha256": "f429b16f351c5985ba01f871f9af1e4c635057dd4bcf1de08b75624ac811da8b", + "block_type": "paragraph", + "char_count": 9085, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 259, + "char_end": 9085, + "char_start": 0, + "fragment_sha256": "4b4eb44ea8561655a4db9a4720f5829d7a6ed9f9598390d4a2fc19fd1ea3a7c6", + "heading_path": [ + "TABLE OF CONTENTS", + "MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", + "table": null, + "text": "or to such other address or addresses as the parties may from time to time designate in writing. Copies delivered solely to outside counsel shall not constitute notice. Field: Page; Sequence: 91; Value: 80 Section 12.4. Assignment. No party hereto shall assign this Agreement or any part hereof without the prior written consent of the other parties and any such transfer without prior written consent shall be void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. Section 12.5. Rights of Third Parties. Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the parties hereto, any right or remedies under or by reason of this Agreement; provided, however, that the D&O Indemnified Parties and the past, present and future directors, managers, officers, employees, incorporators, members, partners, stockholders, Affiliates, agents, attorneys, advisors and representatives of the parties, and any Affiliate of any of the foregoing (and their successors, heirs and representatives), are intended third-party beneficiaries of, and may enforce, Section 12.16. Section 12.6. Expenses. Except as otherwise set forth in this Agreement, each party hereto shall be responsible for and pay its own expenses incurred in connection with this Agreement and the transactions contemplated hereby, including all fees of its legal counsel, financial advisers and accountants; provided, that if the Closing shall occur, Acquiror shall (x) pay or cause to be paid, the Unpaid Transaction Expenses, and (y) pay or cause to be paid, any transaction expenses of Acquiror (including transaction expenses incurred, accrued, paid or payable by Acquiror\u2019s Affiliates on Acquiror\u2019s behalf), in each of case (x) and (y), in accordance with Section 2.4(c). For the avoidance of doubt, any payments to be made (or to cause to be made) by Acquiror pursuant to this Section 12.6 shall be paid upon consummation of the Merger and release of proceeds from the Trust Account. Section 12.7. Governing Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby, shall be governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to principles or rules of conflict of Laws to the extent such principles or rules would require or permit the application of Laws of another jurisdiction. Section 12.8. Headings; Counterparts. The headings in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Section 12.9. Company and Acquiror Disclosure Letters. The Company Disclosure Letter and the Acquiror Disclosure Letter (including, in each case, any section thereof) referenced herein are a part of this Agreement as if fully set forth herein. All references herein to the Company Disclosure Letter and/or the Acquiror Disclosure Letter (including, in each case, any section thereof) shall be deemed references to such parts of this Agreement, unless the context shall otherwise require. Any disclosure made by a party in the applicable Disclosure Letter, or any section thereof, with reference to any section of this Agreement or section of the applicable Disclosure Letter shall be deemed to be a disclosure with respect to such other applicable sections of this Agreement or sections of applicable Disclosure Letter if it is reasonably apparent on the face of such disclosure that such disclosure is responsive to such other section of this Agreement or section of the applicable Disclosure Letter. Certain information set forth in the Disclosure Letters is included solely for informational purposes and may not be required to be disclosed pursuant to this Agreement. The disclosure of any information shall not be deemed to constitute an acknowledgment that such information is required to be disclosed in connection with the representations and warranties made in this Agreement, nor shall such information be deemed to establish a standard of materiality. Field: Page; Sequence: 92; Value: 80 Section 12.10. Entire Agreement. (i) This Agreement (together with the Company Disclosure Letter and the Acquiror Disclosure Letter), (ii) the Sponsor Support Agreement and Company Holders Support Agreement and (iii) the Mutual Nondisclosure Agreement, dated as of July 30, 2020, between Acquiror and the Company or its Affiliate (the \u201cConfidentiality Agreement\u201d) (clause (ii), (iii) and (iv), collectively, the \u201cAncillary Agreements\u201d) constitute the entire agreement among the parties to this Agreement relating to the transactions contemplated hereby and supersede any other agreements, whether written or oral, that may have been made or entered into by or among any of the parties hereto or any of their respective Subsidiaries relating to the transactions contemplated hereby. No representations, warranties, covenants, understandings, agreements, oral or otherwise, relating to the transactions contemplated hereby exist between such parties except as expressly set forth in this Agreement and the Ancillary Agreements. Section 12.11. Amendments. This Agreement may be amended or modified in whole or in part, only by a duly authorized agreement in writing executed in the same manner as this Agreement and which makes reference to this Agreement. Section 12.12. Publicity. (a) All press releases or other public communications relating to the transactions contemplated hereby, and the method of the release for publication thereof, shall prior to the Closing be subject to the prior mutual approval of Acquiror and the Company, which approval shall not be unreasonably withheld by any party; provided, that no party shall be required to obtain consent pursuant to this Section 12.12(a) to the extent any proposed release or statement is substantially equivalent to the information that has previously been made public without breach of the obligation under this Section 12.12(a). (b) The restriction in Section 12.12(a) shall not apply to the extent the public announcement is required by applicable securities Law, any Governmental Authority or stock exchange rule; provided, however, that in such an event, the party making the announcement shall use its commercially reasonable efforts to consult with the other party in advance as to its form, content and timing. Disclosures resulting from the parties\u2019 efforts to obtain approval or early termination under the HSR Act and to make any relating filing shall be deemed not to violate this Section 12.12. Section 12.13. Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect. The parties further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect under the Laws governing this Agreement, they shall take any actions necessary to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by Law and, to the extent necessary, shall amend or otherwise modify this Agreement to replace any provision contained herein that is held invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the parties. Field: Page; Sequence: 93; Value: 80 Section 12.14. Jurisdiction; Waiver of Jury Trial. (a) Any proceeding or Action based upon, arising out of or related to this Agreement or the transactions contemplated hereby must be brought in the Court of Chancery of the State of Delaware (or, to the extent such court does not have subject matter jurisdiction, the Superior Court of the State of Delaware), or, if it has or can acquire jurisdiction, in the United States District Court for the District of Delaware, and each of the parties irrevocably (i) submits to the exclusive jurisdiction of each such court in any such proceeding or Action, (ii) waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, (iii) agrees that all claims in respect of the proceeding or Action shall be heard and determined only in any such court, and (iv) agrees not to bring any proceeding or Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court. Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by Law or to commence Legal Proceedings or otherwise proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action, suit or proceeding brought pursuant to this Section 12.14." + }, + { + "block_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b260", + "block_sequence": 260, + "block_sha256": "b91d7ecf5dc82c38fd060e27770fa6a9331a9a264a34b4a1a5b9876714629afe", + "block_type": "page_number", + "char_count": 63, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", + "block_sequence": 260, + "char_end": 63, + "char_start": 0, + "fragment_sha256": "85cf6c07f1608664e26573818c5970174e61e2a2b03914d529a8d236860c27af", + "heading_path": [ + "TABLE OF CONTENTS", + "MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", + "table": null, + "text": "Field: Sequence; 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Enforcement. The parties hereto agree that irreparable damage could occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to specific enforcement of the terms and provisions of this Agreement, in addition to any other remedy to which any party is entitled at law or in equity. In the event that any Action shall be brought in equity to enforce the provisions of this Agreement, no party shall allege, and each party hereby waives the defense, that there is an adequate remedy at law, and each party agrees to waive any requirement for the securing or posting of any bond in connection therewith. Section 12.16. Non-Recourse. Except (x) as otherwise contemplated by Article XI and (y) in the case of claims against a Person in respect of such Person\u2019s actual fraud: (a) Solely with respect to the Company, Acquiror and Merger Sub, this Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby may only be brought against, the Company, Acquiror and Merger Sub as named parties hereto; and Field: Page; Sequence: 94; Value: 80 (b) except to the extent a party hereto (and then only to the extent of the specific obligations undertaken by such party hereto), (i) no past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of the Company, Acquiror or Merger Sub and (ii) no past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of any of the foregoing shall have any liability (whether in Contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other obligations or liabilities of any one or more of the Company, Acquiror or Merger Sub under this Agreement for any claim based on, arising out of, or related to this Agreement or the transactions contemplated hereby. Section 12.17. Non-Survival of Representations, Warranties and Covenants. Except (x) as otherwise contemplated by Section 10.2 or, solely for purposes of any claims made under the R&W Insurance Policy, by Article XI, or (y) in the case of claims against a Person in respect of such Person\u2019s actual fraud, none of the representations, warranties, covenants, obligations or other agreements in this Agreement or in any certificate, statement or instrument delivered pursuant to this Agreement, including any rights arising out of any breach of such representations, warranties, covenants, obligations, agreements and other provisions, shall survive the Closing and shall terminate and expire upon the occurrence of the Effective Time (and there shall be no liability after the Closing in respect thereof), except for (a) those covenants and agreements contained herein that by their terms expressly apply in whole or in part after the Closing and then only with respect to any breaches occurring after the Closing and (b) this Article XII. Section 12.18. Conflicts and Privilege. (a) Acquiror and the Company, on behalf of their respective successors and assigns (including, after the Closing, the Surviving Corporation), hereby agree that, in the event a dispute with respect to this Agreement or the transactions contemplated hereby arises after the Closing between or among (x) the Sponsor, the stockholders or holders of other equity interests of Acquiror or the Sponsor and/or any of their respective directors, members, partners, officers, employees or Affiliates (other than the Surviving Corporation) (collectively, the \u201cSCH Group\u201d), on the one hand, and (y) the Surviving Corporation and/or any member of the Opendoor Group, on the other hand, any legal counsel, including Skadden, Arps, Slate, Meagher & Flom LLP (\u201cSkadden\u201d), that represented Acquiror and/or the Sponsor prior to the Closing may represent the Sponsor and/or any other member of the SCH Group, in such dispute even though the interests of such Persons may be directly adverse to the Surviving Corporation, and even though such counsel may have represented Acquiror in a matter substantially related to such dispute, or may be handling ongoing matters for the Surviving Corporation and/or the Sponsor. Acquiror and the Company, on behalf of their respective successors and assigns (including, after the Closing, the Surviving Corporation), further agree that, as to all legally privileged communications prior to the Closing (made in connection with the negotiation, preparation, execution, delivery and performance under, or any dispute or Action arising out of or relating to, this Agreement, any Ancillary Agreements or the transactions contemplated hereby or thereby) between or among Acquiror, the Sponsor and/or any other member of the SCH Group, on the one hand, and Skadden, on the other hand, the attorney/client privilege and the expectation of client confidence shall survive the Merger and belong to the SCH Group after the Closing, and shall not pass to or be claimed or controlled by the Surviving Corporation. Notwithstanding the foregoing, any privileged communications or information shared by the Company prior to the Closing with Acquiror or the Sponsor under a common interest agreement shall remain the privileged communications or information of the Surviving Corporation. Field: Page; Sequence: 95; Value: 80 (b) Acquiror and the Company, on behalf of their respective successors and assigns (including, after the Closing, the Surviving Corporation), hereby agree that, in the event a dispute with respect to this Agreement or the transactions contemplated hereby arises after the Closing between or among (x) the stockholders or holders of other equity interests of the Company and any of their respective directors, members, partners, officers, employees or Affiliates (other than the Surviving Corporation) (collectively, the \u201cOpendoor Group\u201d), on the one hand, and (y) the Surviving Corporation and/or any member of the SCH Group, on the other hand, any legal counsel, including Latham & Watkins LLP (\u201cLatham\u201d) that represented the Company prior to the Closing may represent any member of the Opendoor Group in such dispute even though the interests of such Persons may be directly adverse to the Surviving Corporation, and even though such counsel may have represented Acquiror and/or the Company in a matter substantially related to such dispute, or may be handling ongoing matters for the Surviving Corporation, further agree that, as to all legally privileged communications prior to the Closing (made in connection with the negotiation, preparation, execution, delivery and performance under, or any dispute or Action arising out of or relating to, this Agreement, any Ancillary Agreements or the transactions contemplated hereby or thereby) between or among the Company and/or any member of the Opendoor Group, on the one hand, and Latham, on the other hand, the attorney/client privilege and the expectation of client confidence shall survive the Merger and belong to the Opendoor Group after the Closing, and shall not pass to or be claimed or controlled by the Surviving Corporation. 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Undisclosed Liabilities 33 Section 4.10. Litigation and Proceedings 33 Section 4.11. Legal Compliance 33 Section 4.12. Contracts; No Defaults 34 Section 4.13. Company Benefit Plans 36 Section 4.14. Labor Relations; Employees 38 Section 4.15. Taxes 39 Section 4.16. Brokers’ Fees 41 Section 4.17. Insurance 41 Section 4.18. Licenses 42 Section 4.19. Equipment and Other Tangible Property 42 Section 4.20. Real Property 42 Section 4.21. Intellectual Property 44 Section 4.22. Privacy and Cybersecurity 45 Section 4.23. Environmental Matters 46 Section 4.24. Absence of Changes 46 Section 4.25. Anti-Corruption Compliance 47 Section 4.26. Sanctions and International Trade Compliance 47 Section 4.27. Information Supplied 47 Section 4.28. Vendors 48 Section 4.29. Government Contracts 48 Section 4.30. Sufficiency of Assets 48 Section 4.31. Mortgage Loans 48 Section 4.32. No Additional Representation or Warranties 49 Article V REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB Section 5.1. Company Organization 49 Section 5.2. Due Authorization 50 Section 5.3. No Conflict 51 Section 5.4. Litigation and Proceedings 51 Section 5.5. SEC Filings 52 Section 5.6. Internal Controls; Listing; Financial Statements 52 Section 5.7. Governmental Authorities; Consents 53 Section 5.8. Trust Account 53 Section 5.9. Investment Company Act; JOBS Act 54 Section 5.10. Absence of Changes 54 Section 5.11. No Undisclosed Liabilities 54 Section 5.12. Capitalization of Acquiror 55 Section 5.13. 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Indebtedness 56 Section 5.15. Taxes 56 Section 5.16. Business Activities 58 Section 5.17. Stock Market Quotation 59 Section 5.18. Registration Statement, Proxy Statement and Proxy Statement/Registration Statement 59 Section 5.19. No Outside Reliance 60 Section 5.20. No Additional Representation or Warranties 60 Article VI COVENANTS OF THE COMPANY Section 6.1. Conduct of Business 61 Section 6.2. Inspection 64 Section 6.3. Preparation and Delivery of Additional Company Financial Statements 65 Section 6.4. Affiliate Agreements 66 Section 6.5. Pre-Closing Restructuring 66 Section 6.6. Acquisition Proposals 66 Article VII COVENANTS OF ACQUIROR Section 7.1. Employee Matters 66 Section 7.2. Trust Account Proceeds and Related Available Equity 67 Section 7.3. Listing 68 Section 7.4. No Solicitation by Acquiror 68 Section 7.5. Acquiror Conduct of Business 68 Section 7.6. Post-Closing Directors and Officers of Acquiror 70 Section 7.7. Domestication 70 Section 7.8. Indemnification and Insurance 71 Section 7.9. Acquiror Public Filings 72 Section 7.10. PIPE Subscriptions 72 Section 7.11. Stockholder Litigation 73 Article VIII JOINT COVENANTS Section 8.1. HSR Act; Other Filings 73 Section 8.2. 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Support of Transaction 78 Section 8.4. Tax Matters 78 Section 8.5. Section 16 Matters 78 Section 8.6. Cooperation; Consultation 79 Article IX CONDITIONS TO OBLIGATIONS Section 9.1. Conditions to Obligations of Acquiror, Merger Sub, and the Company 79 Section 9.2. Conditions to Obligations of Acquiror and Merger Sub 80 Section 9.3. Conditions to the Obligations of the Company 81 Article X TERMINATION/EFFECTIVENESS Section 10.1. Termination 82 Section 10.2. Effect of Termination 83 Article XI REPRESENTATION AND WARRANTY INSURANCE Section 11.1. R&W Insurance Policy 83 Article XII MISCELLANEOUS Section 12.1. Trust Account Waiver 83 Section 12.2. Waiver 84 Section 12.3. Notices 84 Section 12.4. Assignment 86 Section 12.5. Rights of Third Parties 86 Section 12.6. Expenses 86 Section 12.7. Governing Law 86 Section 12.8. Headings; Counterparts 86 Section 12.9. Company and Acquiror Disclosure Letters 86 Section 12.10. Entire Agreement 87 Section 12.11. Amendments 87 Section 12.12. Publicity 87 Section 12.13. 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"sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "AGREEMENT AND PLAN OF MERGER"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 46, "char_end": 516, "char_start": 0, "fragment_sha256": "b7aae6466600b9c06a51ba3c8a07af4a9a1e3ee2132cbbbe9464ceb2a87b7a6e", "heading_path": ["TABLE OF CONTENTS", "AGREEMENT AND PLAN OF MERGER"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s20", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "This Agreement and Plan of Merger, dated as of September 15, 2020 (this “Agreement”), is made and entered into by and among Social Capital Hedosophia Holdings Corp. II, a Cayman Islands exempted company limited by shares (which shall migrate to and domesticate as a Delaware corporation prior to the Closing (as defined below)) (“Acquiror”), Hestia Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of Acquiror (“Merger Sub”) and Opendoor Labs Inc., a Delaware corporation (the “Company”)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b48"], "char_count": 8037, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e06891e4569c944b3afe8b8f11d6a467ca46a0e40ef36f0ea2a318a5c54fbde8", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "RECITALS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 48, "char_end": 8037, "char_start": 0, "fragment_sha256": "1edc14d67e9cfed04a3465f0a419c314f68a9e9515d82033d11f0a455c9d5018", "heading_path": ["TABLE OF CONTENTS", "RECITALS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s21", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "WHEREAS, Acquiror is a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses; WHEREAS, prior to the Effective Time (as defined below) and subject to the conditions of this Agreement, Acquiror shall migrate to and domesticate as a Delaware corporation in accordance with Section 388 of the Delaware General Corporation Law, as amended (the “DGCL”) and the Cayman Islands Companies Law (2020 Revision) (the “Domestication”); WHEREAS, concurrently with the Domestication, Acquiror shall file a certificate of incorporation with the Secretary of State of Delaware and adopt bylaws (in the forms attached as Exhibits A and B hereto, with such changes as may be agreed in writing by Acquiror and the Company); WHEREAS, in connection with the Domestication, (i) each then issued and outstanding share of Acquiror Class A Common Stock (as defined below) shall convert automatically, on a one-for-one basis, into a share of common stock, par value $0.0001, per share of Acquiror (after its domestication as a corporation incorporated in the State of Delaware) (the “Domesticated Acquiror Common Stock”); (ii) each then issued and outstanding share of Acquiror Class B Common Stock (as defined below) shall convert automatically, on a one-for-one basis, into a share of Domesticated Acquiror Common Stock; (iii) each then issued and outstanding warrant of Acquiror (“Cayman Acquiror Warrant”) shall convert automatically into a warrant to acquire one share of Domesticated Acquiror Common Stock (“Domesticated Acquiror Warrant”), pursuant to the Warrant Agreement; and (iv) each then issued and outstanding unit of Acquiror (the “Cayman Acquiror Units”) shall convert automatically into a unit of Acquiror (after its domestication as a corporation incorporated in the State of Delaware) (the “Domesticated Acquiror Units”), with each Domesticated Acquiror Unit representing one share of Domesticated Acquiror Common Stock and one-third of one Domesticated Acquiror Warrant; WHEREAS, upon the terms and subject to the conditions of this Agreement, and in accordance with the DGCL, (x) Merger Sub will merge with and into the Company, the separate corporate existence of Merger Sub will cease and the Company will be the surviving corporation and a wholly owned subsidiary of Acquiror (the “Merger”) and (y) Acquiror will change its name to “Opendoor Technologies Inc.”; Field: Page; Sequence: 7 WHEREAS, prior to the Effective Time (as defined below), (i) all of the Company Warrants (as defined below) will be exercised in full on a cash or cashless basis or terminated without exercise, as applicable, in accordance with their respective terms (the “Company Warrant Settlement”) and (ii) each share of Company Preferred Stock (as defined below) will be converted into one share of Company Common Stock (as defined below) (the “Company Preferred Conversion”); WHEREAS, upon the Effective Time and following the Company Warrant Settlement and Company Preferred Conversion, all shares of the Company’s Capital Stock (as defined below) and Company Awards will be converted into the right to receive (in the case of the Company Awards, if and to the extent earned and subject to their respective terms) the Aggregate Merger Consideration as set forth in this Agreement; WHEREAS, each of the parties intends that, for United States federal income tax purposes, the Merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations, to which each of Acquiror and the Company are to be parties under Section 368(b) of the Code, and this Agreement is intended to constitute a “plan of reorganization” within the meaning of Section 368 of the Code and the Treasury Regulations; WHEREAS, the Board of Directors of the Company has approved this Agreement and the documents contemplated hereby and the transactions contemplated hereby and thereby, declared it advisable for the Company to enter into this Agreement and the other documents contemplated hereby and recommended the approval of this agreement by the Company’s stockholders; WHEREAS, as a condition and inducement to Acquiror’s willingness to enter into this Agreement, simultaneously with the execution and delivery of this Agreement, the Requisite Company Stockholders (as defined below) have each executed and delivered to Acquiror a Company Holders Support Agreement (as defined below) pursuant to which the Requisite Company Stockholders have agreed, among other things, to vote (whether pursuant to a duly convened meeting of the stockholders of the Company or pursuant to an action by written consent of the stockholders of the Company) in favor of the adoption and approval, promptly following the time at which the Registration Statement shall have been declared effective and delivered or otherwise made available to stockholders, of this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby (including the Pre-Closing Restructuring); WHEREAS, the Board of Directors of Acquiror has (i) determined that it is advisable for Acquiror to enter into this Agreement and the documents contemplated hereby, (ii) approved the execution and delivery of this Agreement and the documents contemplated hereby and the transactions contemplated hereby and thereby, and (iii) recommended the adoption and approval of this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby by the Acquiror Shareholders; WHEREAS, Acquiror, as sole shareholder of Merger Sub has approved and adopted this Agreement and the documents contemplated hereby and the transactions contemplated hereby and thereby; Field: Page; Sequence: 8; Options: NewSection; Value: 2 WHEREAS, in furtherance of the Merger and in accordance with the terms hereof, Acquiror shall provide an opportunity to its shareholders to have their outstanding shares of Acquiror Common Stock redeemed on the terms and subject to the conditions set forth in this Agreement and Acquiror’s Governing Documents (as defined below) in connection with obtaining the Acquiror Shareholder Approval (as defined below); WHEREAS, as a condition and inducement to the Company’s willingness to enter into this Agreement, simultaneously with the execution and delivery of this Agreement, the Sponsor has executed and delivered to the Company the Sponsor Support Agreement (as defined below) pursuant to which the Sponsor has agreed to, among other things, vote to adopt and approve this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby; WHEREAS, on or prior to the date hereof, Acquiror entered into Subscription Agreements (as defined below) with PIPE Investors (as defined below) pursuant to which, and on the terms and subject to the conditions of which, such PIPE Investors agreed to purchase from Acquiror shares of Domesticated Acquiror Common Stock for an aggregate purchase price equal to the Minimum PIPE Investment Amount (as defined below), such purchases to be consummated prior to or substantially concurrently with the Closing; WHEREAS, at the Closing, Acquiror, the Sponsor, the Major Company Stockholders (as defined below), and certain of their respective Affiliates, as applicable, shall enter into a Registration Rights Agreement (the “Registration Rights Agreement”) in the form attached hereto as Exhibit C (with such changes as may be agreed in writing by Acquiror and the Company), which shall be effective as of the Closing; and NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in this Agreement and intending to be legally bound hereby, Acquiror, Merger Sub and the Company agree as follows:"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3762, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "39c8dc5070beb3938d06b0a0f2efc2ecb688a0290e9e3a46b8dead027824c7f3", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 3762, "char_start": 0, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 1.1. Definitions. As used herein, the following terms shall have the following meanings: “1H Financial Statements” has the meaning specified in Section 6.3(b). “2020 Audited Financial Statements” has the meaning specified in Section 6.3(d). “Acquiror” has the meaning specified in the Preamble hereto. “Acquiror Class A Common Stock” means prior to the Domestication, Class A ordinary shares, par value $0.0001 per share, of Acquiror. “Acquiror Class B Common Stock” means prior to the Domestication, Class B ordinary shares, par value $0.0001 per share, of Acquiror. Field: Page; Sequence: 9; Value: 2 “Acquiror Common Share” means a share of Acquiror Common Stock. “Acquiror Common Stock” means (a) prior to the Domestication, Acquiror Class A Common Stock and Acquiror Class B Common Stock, and (b) from and following the Domestication, Domesticated Acquiror Common Stock. “Acquiror Common Warrant” means a warrant to purchase one (1) share of Acquiror Common Stock at an exercise price of eleven Dollars fifty cents ($11.50) that was included in the units sold as part of Acquiror’s initial public offering. “Acquiror Cure Period” has the meaning specified in Section 10.1(g). “Acquiror Disclosure Letter” has the meaning specified in the introduction to Article V. “Acquiror Financial Statements” has the meaning specified in Section 5.6(d). “Acquiror Indemnified Parties” has the meaning specified in Section 7.8(a). “Acquiror Option” has the meaning specified in Section 3.3(a). “Acquiror Private Placement Warrant” means a warrant to purchase one (1) share of Acquiror Class A Common Stock at an exercise price of eleven Dollars fifty cents ($11.50) issued to the Sponsor. “Acquiror SEC Filings” has the meaning specified in Section 5.5. “Acquiror Securities” has the meaning specified in Section 5.12(a). “Acquiror Share Redemption” means the election of an eligible (as determined in accordance with Acquiror’s Governing Documents) holder of Acquiror Class A Common Stock to redeem all or a portion of the shares of Acquiror Class A Common Stock held by such holder at a per-share price, payable in cash, equal to a pro rata share of the aggregate amount on deposit in the Trust Account (including any interest earned on the funds held in the Trust Account) (as determined in accordance with Acquiror’s Governing Documents) in connection with the Transaction Proposals. “Acquiror Share Redemption Amount” means the aggregate amount payable with respect to all Acquiror Share Redemptions. “Acquiror Shareholder Approval” means the approval of (1) those Transaction Proposals identified in clauses (A), (B) and (C) of Section 8.2(b), in each case, by an affirmative vote of the holders of at least two-thirds of the outstanding Acquiror Common Shares entitled to vote, who attend and vote thereupon (as determined in accordance with Acquiror’s Governing Documents) at a shareholders’ meeting duly called by the Board of Directors of Acquiror and held for such purpose and (2) those Transaction Proposals identified in clauses (D), (E), (F), (G), (H), (I), (J), and (K) of Section 8.2(b), in each case, by an affirmative vote of the holders of at least a majority of the outstanding Acquiror Common Shares entitled to vote thereupon (as determined in accordance with Acquiror’s Governing Documents), in each case, at an Acquiror Shareholders’ Meeting duly called by the Board of Directors of Acquiror and held for such purpose. Field: Page; Sequence: 10; Value: 2 “Acquiror Shareholders” means the shareholders of Acquiror as of immediately prior to the Effective Time. “Acquiror Shareholders’ Meeting” has the meaning specified in Section 8.2(b). “Acquiror Warrants” means the Acquiror Common Warrants and the Acquiror Private Placement Warrants."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3930, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d70cffba9ceb1c01151e9f22e4f61d11e4bd550d7e54ab9e2aca8bdf0f388446", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 7692, "char_start": 3762, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Acquisition Proposal” means, with respect to the Company and its Subsidiaries, other than the transactions contemplated hereby and other than the acquisition or disposition of Owned Residential Properties, equipment or other tangible personal property in the ordinary course of business, any offer or proposal relating to: (a) any acquisition or purchase, direct or indirect, of (i) 15% or more of the consolidated assets of the Company and its Subsidiaries or (ii) 15% or more of any class of equity or voting securities of (x) the Company or (y) one or more Subsidiaries of the Company holding assets constituting, individually or in the aggregate, 15% or more of the consolidated assets of the Company and its Subsidiaries; (b) any tender offer (including a self-tender offer) or exchange offer that, if consummated, would result in any Person beneficially owning 15% or more of any class of equity or voting securities of (i) the Company or (ii) one or more Subsidiaries of the Company holding assets constituting, individually or in the aggregate, 15% or more of the consolidated assets of the Company and its Subsidiaries; or (c) a merger, consolidation, share exchange, business combination, sale of substantially all the assets, reorganization, recapitalization, liquidation, dissolution or other similar transaction involving the sale or disposition of (i) the Company or (ii) one or more Subsidiaries of the Company holding assets constituting, individually or in the aggregate, 15% or more of the consolidated assets of the Company and its Subsidiaries. “Action” means any claim, action, suit, audit, examination, assessment, arbitration, mediation or inquiry, or any proceeding or investigation, by or before any Governmental Authority. “Adjusted Restricted Stock Award” has the meaning specified in Section 3.3(b). “Adjusted Restricted Stock Unit Award” has the meaning specified in Section 3.3(c). “Affiliate” means, with respect to any specified Person, any Person that, directly or indirectly, controls, is controlled by, or is under common control with, such specified Person, whether through one or more intermediaries or otherwise. The term “control” (including the terms “controlling”, “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by Contract or otherwise. “Affiliate Agreements” has the meaning specified in Section 4.12(a)(vi). Field: Page; Sequence: 11; Value: 2 “Aggregate Fully Diluted Company Common Shares” means, without duplication, (a) the aggregate number of shares of Company Common Stock that are (i) issued and outstanding immediately prior to the Effective Time after giving effect to the Pre-Closing Restructuring or (ii) issuable upon, or subject to, the settlement of Company Options (whether or not then vested or exercisable), Restricted Stock Awards, and Restricted Stock Unit Awards, in each case, that are outstanding immediately prior to the Effective Time, minus (b) the Treasury Shares outstanding immediately prior to the Effective Time, minus (c) a number of shares equal to the aggregate exercise price of the Company Options described in clause (ii) above divided by the Per Share Merger Consideration; provided, that any Company Option with an exercise price equal to or greater than the Per Share Merger Consideration shall not be counted for purposes of determining the number of Aggregate Fully Diluted Company Common Shares; “Aggregate Merger Consideration” means a number of Acquiror Common Shares equal to the quotient obtained by dividing (i) the Base Purchase Price, by (ii) $10.00. “Agreement” has the meaning specified in the Preamble hereto. “Agreement End Date” has the meaning specified in Section 10.1(e). “Ancillary Agreements” has the meaning specified in Section 12.10."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3871, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "34cceb2e1513e71550e5084759fb074e2c9b68080758a8ce09e28ce115db09e5", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 11563, "char_start": 7692, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p18", "passage_kind": "narrative", "passage_sequence": 18, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Anti-Bribery Laws” means the anti-bribery provisions of the Foreign Corrupt Practices Act of 1977, as amended, and all other applicable anti-corruption and bribery Laws (including the U.K. Bribery Act 2010, and any rules or regulations promulgated thereunder or other Laws of other countries implementing the OECD Convention on Combating Bribery of Foreign Officials). “Antitrust Authorities” means the Antitrust Division of the United States Department of Justice, the United States Federal Trade Commission or the antitrust or competition Law authorities of any other jurisdiction (whether United States, foreign or multinational). “Antitrust Information or Document Request” means any request or demand for the production, delivery or disclosure of documents or other evidence, or any request or demand for the production of witnesses for interviews or depositions or other oral or written testimony, by any Antitrust Authorities relating to the transactions contemplated hereby or by any third party challenging the transactions contemplated hereby, including any so called “second request” for additional information or documentary material or any civil investigative demand made or issued by any Antitrust Authority or any subpoena, interrogatory or deposition. “Audited Financial Statements” has the meaning specified in Section 4.8(a). “Available Acquiror Cash” has the meaning specified in Section 7.2(a). “Base Purchase Price” means $5,000,000,000. “Business Combination” has the meaning set forth in Article 1.1 of Acquiror’s Governing Documents as in effect on the date hereof. “Business Combination Proposal” means any offer, inquiry, proposal or indication of interest (whether written or oral, binding or non-binding, and other than an offer, inquiry, proposal or indication of interest with respect to the transactions contemplated hereby), relating to a Business Combination. Field: Page; Sequence: 12; Value: 2 “Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York, New York or Governmental Authorities in the Cayman Islands (for so long as Acquiror remains domiciled in Cayman Islands) are authorized or required by Law to close. “Cayman Acquiror Unit” has the meaning specified in the Recitals hereto. “Cayman Acquiror Warrant” has the meaning specified in the Recitals hereto. “Cayman Registrar” means the Cayman Registrar under the Companies Law (2018 Revision). “Closing” has the meaning specified in Section 2.3(a). “Closing Date” has the meaning specified in Section 2.3(a). “Code” means the Internal Revenue Code of 1986, as amended. “Common 1 Warrants” has the meaning specified in Section 4.6(b). “Common 2 Warrants” has the meaning specified in Section 4.6(b). “Common 3 Warrants” has the meaning specified in Section 4.6(b). “Common 4 Warrants” has the meaning specified in Section 4.6(b). “Common 5 Warrants” has the meaning specified in Section 4.6(b). “Common 6 Warrants” has the meaning specified in Section 4.6(b). “Company” has the meaning specified in the Preamble hereto. “Company Award” shall mean a Company Option, a Restricted Stock Award, or a Restricted Stock Unit Award. “Company Benefit Plan” has the meaning specified in Section 4.13(a). “Company Capital Stock” means the shares of the Company Common Stock and the Company Preferred Stock. “Company Common Shares” means shares of Company Common Stock. “Company Common Stock” means the shares of common stock, par value $0.00001 per share, of the Company. Field: Page; Sequence: 13; Value: 2 “Company Common Warrants” means the Common 1 Warrants, the Common 2 Warrants, the Common 3 Warrants, the Common 4 Warrants, the Common 5 Warrants and the Common 6 Warrants. “Company Cure Period” has the meaning specified in Section 10.1(e). “Company Disclosure Letter” has the meaning specified in the introduction to Article IV."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 788, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3e0013968786b872eb8867952906536b26f10df48f92fc0c5292892e46ab0592", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE 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"https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Company Fundamental Representations” means the representations and warranties made pursuant to the first and second sentences of Section 4.1 (Company Organization), the first and second sentences of Section 4.2 (Subsidiaries), Section 4.3 (Due Authorization), Section 4.6 (Capitalization of the Company), Section 4.7 (Capitalization of Subsidiaries) and Section 4.16 (Brokers’ Fees). “Company Holders Support Agreement” means that certain Support Agreement, dated as of the date hereof, by and among each of the Requisite Company Stockholders, Acquiror and the Company, as amended or modified from time to time. “Company Incentive Plan” means the Opendoor Labs, Inc. 2014 Stock Plan as amended from time to time. “Company Indemnified Parties” has the meaning specified in Section 7.8(a)."} +{"artifact_role": "ex2-01", "block_ids": 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"sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p20", "passage_kind": "narrative", "passage_sequence": 20, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Company Material Adverse Effect” means any event, state of facts, development, circumstance, occurrence or effect (collectively, “Events”) that (i) has had, or would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the business, assets, results of operations or financial condition of the Company and its Subsidiaries, taken as a whole or (ii) does or would reasonably be expected to, individually or in the aggregate, prevent the ability of the Company to consummate the Merger; provided, however, that in no event would any of the following, alone or in combination, be deemed to constitute, or be taken into account in determining whether there has been or will be, a “Company Material Adverse Effect”: (a) any change in applicable Laws or GAAP or any interpretation thereof following the date of this Agreement, (b) any change in interest rates or economic, political, business or financial market conditions generally, (c) the taking of any action required by this Agreement, (d) any natural disaster (including hurricanes, storms, tornados, flooding, earthquakes, volcanic eruptions or similar occurrences), pandemic or change in climate, (e) any acts of terrorism or war, the outbreak or escalation of hostilities, geopolitical conditions, local, national or international political conditions, (f) any failure of the Company to meet any projections or forecasts (provided that clause (f) shall not prevent a determination that any Event not otherwise excluded from this definition of Company Material Adverse Effect underlying such failure to meet projections or forecasts has resulted in a Company Material Adverse Effect), (g) any Events generally applicable to the industries or markets in which the Company and its Subsidiaries operate (including increases in the cost of products, supplies, materials or other goods purchased from third party suppliers), (h) the announcement of this Agreement and consummation of the transactions contemplated hereby, including any termination of, reduction in or similar adverse impact (but in each case only to the extent attributable to such announcement or consummation) on relationships, contractual or otherwise, with any landlords, customers, suppliers, distributors, partners or employees of the Company and its Subsidiaries (it being understood that this clause (h) shall be disregarded for purposes of the representation and warranty set forth in Section 4.4 and the condition to Closing with respect thereto), (i) any matter set forth on the Company Disclosure Letter, (j) any Events to the extent actually known by those individuals set forth on Section 1.3 of the Acquiror Disclosure Letter on or prior to the date hereof, or (k) any action taken by, or at the request of, Acquiror or Merger Sub; provided, further, that any Event referred to in clauses (a), (b), (d), (e) or (g) above may be taken into account in determining if a Company Material Adverse Effect has occurred to the extent it has a disproportionate and adverse effect on the business, assets, results of operations or condition (financial or otherwise) of the Company and its Subsidiaries, taken as a whole, relative to similarly situated companies in the industry in which the Company and its Subsidiaries conduct their respective operations (which shall include the real estate and real estate technology industries generally), but only to the extent of the incremental disproportionate effect on the Company and its Subsidiaries, taken as a whole, relative to similarly situated companies in the industry in which the Company and its Subsidiaries conduct their respective operations. Field: Page; Sequence: 14; Value: 2 “Company Option” means an option to purchase shares of Company Common Stock granted under the Company Incentive Plan."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3997, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "32de7e1062e7514d62e54f7745351578036a9f7e21cea6c201cce2f6ebccf94e", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 20163, "char_start": 16166, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p21", "passage_kind": "narrative", "passage_sequence": 21, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Company PIPE Investor” means a PIPE Investor that is (x) a holder of shares of Company Capital Stock or securities exercisable for or convertible into Company Capital Stock as of the date of this Agreement, and (y) not a SCH PIPE Investor. “Company Preferred Conversion” has the meaning specified in the Recitals hereto. “Company Preferred Stock” means the shares of the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series C-1 Preferred Stock, the Series D Preferred Stock, the Series D-1 Preferred Stock, the Series E Preferred Stock, the Series E-1 Preferred Stock and the Series E-2 Preferred Stock. “Company Preferred Warrants” means the Series D Preferred Warrants and the Series E Preferred Warrants. “Company Registered Intellectual Property” has the meaning specified in Section 4.21(a). “Company Stockholder Approvals” means the approval of this Agreement and the transactions contemplated hereby, including the Merger and the transactions contemplated thereby, by the (i) affirmative vote or written consent of the holders of at least a majority of the voting power of the outstanding Company Capital Stock voting as a single class and on an as-converted basis and (ii) the affirmative vote or written consent of the holders of at least a majority of the voting power of the outstanding Company Preferred Stock, voting as a single class and on an as-converted basis, in each case, pursuant to the terms and subject to the conditions of the Company’s Governing Documents and applicable Law. “Company Warrant Settlement” has the meaning specified in the Recitals hereto. “Company Warrants” means the Company Common Warrants and the Company Preferred Warrants. Field: Page; Sequence: 15; Value: 2 “Confidentiality Agreement” has the meaning specified in Section 12.10. “Constituent Corporations” has the meaning specified in Section 2.1(a). “Contracts” means any legally binding contracts, agreements, subcontracts, leases, and purchase orders. “Copyleft License” means any license that requires, as a condition of use, modification and/or distribution of software subject to such license, that such software subject to such license, or other software incorporated into, derived from, or used or distributed with such software subject to such license (i) in the case of software, be made available or distributed in a form other than binary (e.g., source code form), (ii) be licensed for the purpose of preparing derivative works, (iii) be licensed under terms that allow the Company’s or any Subsidiary of the Company’s products or portions thereof or interfaces therefor to be reverse engineered, reverse assembled or disassembled (other than by operation of Law) or (iv) be redistributable at no license fee. Copyleft Licenses include the GNU General Public License, the GNU Lesser General Public License, the Mozilla Public License, the Common Development and Distribution License, the Eclipse Public License and all Creative Commons “sharealike” licenses. “D&O Indemnified Parties” has the meaning specified in Section 7.8(a). “DGCL” has the meaning specified in the Recitals hereto. “Disclosure Letter” means, as applicable, the Company Disclosure Letter or the Acquiror Disclosure Letter. “Dissenting Shares” has the meaning specified in Section 3.5. “Dollars” or “$” means lawful money of the United States. “Domesticated Acquiror Common Stock” has the meaning specified in the Recitals hereto. “Domesticated Acquiror Unit” has the meaning specified in the Recitals hereto. “Domesticated Acquiror Warrant” has the meaning specified in the Recitals hereto. “Domestication” has the meaning specified in the Recitals hereto. “Effective Time” has the meaning specified in Section 2.3(b). “Environmental Laws” means any and all applicable Laws relating to Hazardous Materials, pollution, or the protection or management of the environment or natural resources, or protection of human health (with respect to exposure to Hazardous Materials)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 2858, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e464c87016b2c0434c20264415131d41c70ef02daad9158627297209f0a12926", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 23021, "char_start": 20163, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p22", "passage_kind": "narrative", "passage_sequence": 22, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“ERISA” has the meaning specified in Section 4.13(a). Field: Page; Sequence: 16; Value: 2 “ERISA Affiliate” means any Affiliate or business, whether or not incorporated, that together with the Company would be deemed to be a “single employer” within the meaning of Section 414(b), (c), (m) or (o) of the Code. “ESPP” has the meaning specified in Section 7.1(a). “Exchange Act” means the Securities Exchange Act of 1934, as amended. “Exchange Agent” has the meaning specified in Section 3.2(a). “Exchange Ratio” means the quotient obtained by dividing (a) the number of shares constituting the Aggregate Merger Consideration, by (b) the number of Aggregate Fully Diluted Company Common Shares. “Excluded Employee” has the meaning specified in Section 6.1(h). “Export Approvals” has the meaning specified in Section 4.26(a). “Financial Statements” has the meaning specified in Section 4.8(a). “GAAP” means generally accepted accounting principles in the United States as in effect from time to time. “Governing Documents” means the legal document(s) by which any Person (other than an individual) establishes its legal existence or which govern its internal affairs. For example, the “Governing Documents” of a corporation are its certificate of incorporation and by-laws, the “Governing Documents” of a limited partnership are its limited partnership agreement and certificate of limited partnership, the “Governing Documents” of a limited liability company are its operating agreement and certificate of formation and the “Governing Documents” of an exempted company are its memorandum and articles of association. “Governmental Authority” means any federal, state, provincial, municipal, local or foreign government, governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court or tribunal. “Governmental Authorization” has the meaning specified in Section 4.5. “Governmental Order” means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by or with any Governmental Authority. “Hazardous Material” means any (i) pollutant, contaminant, chemical, (ii) industrial, solid, liquid or gaseous toxic or hazardous substance, material or waste, (iii) petroleum or any fraction or product thereof, (iv) asbestos or asbestos-containing material, (v) polychlorinated biphenyl, (vi) chlorofluorocarbons, and (vii) other substance, material or waste, in each case, which are regulated under any Environmental Law or as to which liability may be imposed pursuant to Environmental Law. Field: Page; Sequence: 17; Value: 2 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder. “Incentive Equity Plan” has the meaning specified in Section 7.1(a)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3900, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9344b0ccbba48b5a60e05bcad3671e8e5530cf0a96f0a2f098293c1efb282f43", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 26921, "char_start": 23021, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Indebtedness” means with respect to any Person, without duplication, any obligations, contingent or otherwise, in respect of (a) the principal of and premium (if any) in respect of all indebtedness for borrowed money, including accrued interest and any per diem interest accruals, (b) the principal and interest components of capitalized lease obligations under GAAP, (c) amounts drawn (including any accrued and unpaid interest) on letters of credit, bank guarantees, bankers’ acceptances and other similar instruments (solely to the extent such amounts have actually been drawn), (d) the principal of and premium (if any) in respect of obligations evidenced by bonds, debentures, notes and similar instruments, (e) the termination value of interest rate protection agreements and currency obligation swaps, hedges or similar arrangements (without duplication of other indebtedness supported or guaranteed thereby), (f) the principal component of all obligations to pay the deferred and unpaid purchase price of property and equipment which have been delivered, including “earn outs” and “seller notes” and (g) breakage costs, prepayment or early termination premiums, penalties, or other fees or expenses payable as a result of the consummation of the transactions contemplated hereby in respect of any of the items in the foregoing clauses (a) through (f), and (h) all Indebtedness of another Person referred to in clauses (a) through (g) above guaranteed directly or indirectly, jointly or severally. “Intellectual Property” means any rights in or to the following, throughout the world, including all U.S. and foreign: (i) patents, patent applications, invention disclosures, and all related continuations, continuations-in-part, divisionals, reissues, re-examinations, substitutions, and extensions thereof; (ii) registered and unregistered trademarks, logos, service marks, trade dress and trade names, slogans, pending applications therefor, and internet domain names, together with the goodwill of the Company or any of its Subsidiaries or their respective businesses symbolized by or associated with any of the foregoing; (iii) registered and unregistered copyrights, and applications for registration of copyright, including such corresponding rights in software and other works of authorship; and (iv) trade secrets, know-how, processes, and other confidential information or proprietary rights. “Interim Period” has the meaning specified in Section 6.1. “International Trade Laws” means all Laws relating to the import, export, re-export, deemed export, deemed re-export, or transfer of information, data, goods, and technology, including but not limited to the Export Administration Regulations administered by the United States Department of Commerce, the International Traffic in Arms Regulations administered by the United States Department of State, customs and import Laws administered by United States Customs and Border Protection, any other export or import controls administered by an agency of the United States government, the anti-boycott regulations administered by the United States Department of Commerce and the United States Department of the Treasury, and other Laws adopted by Governmental Authorities of other countries relating to the same subject matter as the United States Laws described above. Field: Page; Sequence: 18; Value: 2 “Inventory Financing Documents” means any instruments or agreements pursuant to which the Company or any of its Subsidiaries is a borrower or guarantor for purposes of financing Mortgage Loans or the acquisition of Owned Residential Properties, together with all transaction documents related thereto. “Investment Company Act” means the Investment Company Act of 1940, as amended. “IRS” means Internal Revenue Service. “JOBS Act” has the meaning specified in Section 5.6(a). “Latham” has the meaning specified in Section 12.18(b)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3503, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dfdf8b8b1943ccb473ae471bd4fb440e5f0e06add567c16e4d3c6d921e4d514e", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 30424, "char_start": 26921, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p24", "passage_kind": "narrative", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Law” means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority. “Leased Real Property” means all real property leased, licensed, subleased or otherwise used or occupied by the Company or any of its Subsidiaries. “Legal Proceedings” has the meaning specified in Section 4.10. “Letter of Transmittal” has the meaning specified in Section 3.2(b). “Licenses” means any approvals, authorizations, consents, licenses, registrations, permits or certificates of a Governmental Authority (other than any work permits for construction, maintenance, inspection, survey or other site-specific work on the Owned Residential Properties). “Lien” means all liens, mortgages, deeds of trust, pledges, hypothecations, encumbrances, security interests, adverse claim, options, restrictions, claims or other liens of any kind whether consensual, statutory or otherwise. “Major Company Stockholder” means each of the holders of Company Capital Stock set forth on Section 8.2(a)(v) of the Company Disclosure Letter. “Management Grants” has the meaning specified in Section 7.1(a). “Merger” has the meaning specified in the Recitals hereto. “Merger Certificate” has the meaning specified in Section 2.1(a). “Merger Sub” has the meaning specified in the Preamble hereto. “Merger Sub Capital Stock” means the shares of the common stock, par value $0.0001 per share, of Merger Sub. “Minimum Available Acquiror Cash Amount” has the meaning specified in Section 7.2(a). “Minimum PIPE Investment Amount” has the meaning specified in Section 5.12(e). Field: Page; Sequence: 19; Value: 2 “Modification in Recommendation” has the meaning specified in Section 8.2(b). “Mortgage Loans” means all loans or other extensions of credit as well as legally binding commitments and obligations to extend credit to consumers made by the Company or a Subsidiary of the Company to finance or refinance the purchase of real estate in the ordinary course of the Company’s business, together with all Contracts evidencing or executed and delivered in connection with such loans and including all obligations to make additional extensions of credit thereunder and all related collateral. “Multiemployer Plan” has the meaning specified in Section 4.13(c). “Nasdaq” has the meaning specified in Section 7.3. “NYSE” has the meaning specified in Section 5.6(c). “Offer Documents” has the meaning specified in Section 8.2(a)(i). “Open Source License” means any license meeting the Open Source Definition (as promulgated by the Open Source Initiative) or the Free Software Definition (as promulgated by the Free Software Foundation), or any substantially similar license, including any license approved by the Open Source Initiative or any Creative Commons License. “Open Source Licenses” shall include Copyleft Licenses. “Open Source Materials” means any software subject to an Open Source License. “Opendoor Group” has the meaning specified in Section 12.18(b). “Owned Real Property” means all real property owned in fee simple by the Companies or any of their Subsidiaries other than the Owned Residential Properties. “Owned Residential Properties” means the residential properties acquired from time to time by the Company or its Subsidiaries for purpose of re-sale, including any residential properties which are owned by the Company or its Subsidiaries as of the date hereof. “Per Share Merger Consideration” means the product obtained by multiplying (i) the Exchange Ratio by (ii) $10.00."} +{"artifact_role": "ex2-01", "block_ids": 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"sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 20; Value: 2 “Permitted Liens” means (i) mechanic’s, materialmen’s and similar Liens arising in the ordinary course of business with respect to any amounts (A) not yet due and payable or which are being contested in good faith through appropriate proceedings and (B) for which adequate accruals or reserves have been established in accordance with GAAP, (ii) Liens for Taxes (A) not yet due and payable or (B) which are being contested in good faith through appropriate proceedings and for which adequate accruals or reserves have been established in accordance with GAAP, (iii) defects or imperfections of title, easements, encroachments, covenants, rights-of-way, conditions, matters that would be apparent from a physical inspection or current, accurate survey of such real property, restrictions and other similar charges or encumbrances that do not, in the aggregate, materially impair the value or materially interfere with the present use of the Owned Real Property, Owned Residential Properties or Leased Real Property, (iv) with respect to any Leased Real Property (A) the interests and rights of the respective lessors with respect thereto, including any statutory landlord liens and any Lien thereon, (B) any Lien permitted under a Real Property Lease, and (C) any Liens encumbering the underlying fee title of the real property of which the Leased Real Property is a part, (v) zoning, building, entitlement and other land use and environmental regulations promulgated by any Governmental Authority that do not, in the aggregate, materially interfere with the current use of, or materially impair the value of, the Owned Real Property, the Owned Residential Properties or Leased Real Property, (vi) non-exclusive licenses of Intellectual Property entered into in the ordinary course of business consistent with past practice, (vii) ordinary course purchase money Liens and Liens securing rental payments under operating or capital lease arrangements for amounts not yet due or payable, (viii) other Liens arising in the ordinary course of business and not incurred in connection with the borrowing of money in connection with workers’ compensation, unemployment insurance or other types of social security, (ix) reversionary rights in favor of landlords under any Real Property Leases with respect to any of the buildings or other improvements owned by the Company or any of its Subsidiaries, (x) Liens granted under the Inventory Financing Documents, (xi) with respect to the Owned Residential Properties, any Lien granted to a customer in the ordinary course of business of the Company or its Subsidiaries, in connection with such customer’s sale or acquisition of an individual Owned Residential Property, and (xii) Liens that do not, individually or in the aggregate, materially and adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries, taken as a whole. “Person” means any individual, firm, corporation, partnership, limited liability company, incorporated or unincorporated association, joint venture, joint stock company, Governmental Authority or instrumentality or other entity of any kind. “PIPE Investment” means the purchase of shares of Domesticated Acquiror Common Stock pursuant to the Subscription Agreements. “PIPE Investment Amount” means the aggregate gross purchase price received by Acquiror prior to or substantially concurrently with Closing for the shares in the PIPE Investment. “PIPE Investors” means those certain investors participating in the PIPE Investment pursuant to the Subscription Agreements. “Pre-Closing Restructuring” has the meaning specified in Section 6.5 of the Company Disclosure Letter. “Pre-Closing Restructuring Plan” has the meaning specified in Section 6.5. “Prospectus” has the meaning specified in Section 12.1. “Proxy Statement” has the meaning specified in Section 8.2(a)(i)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3974, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2c4ffcf1aa3b272719b92d4a17675e3c27216a6d42e9c6fcaf99bc58e1c85648", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 38332, "char_start": 34358, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p26", "passage_kind": "narrative", "passage_sequence": 26, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Proxy Statement/Registration Statement” has the meaning specified in Section 8.2(a)(i). “Q3 Financial Statements” has the meaning specified in Section 6.3(c). “R&W Insurance Policy” has the meaning specified in Section 11.1(a). Field: Page; Sequence: 21; Value: 2 Field: Split-Segment; Name: 3 “Real Property Leases” has the meaning specified in Section 4.20(a)(ii). “Registration Rights Agreement” has the meaning specified in the Recitals hereto. “Registration Statement” means the Registration Statement on Form S-4, or other appropriate form, including any pre-effective or post-effective amendments or supplements thereto, to be filed with the SEC by Acquiror under the Securities Act with respect to the Registration Statement Securities. “Registration Statement Securities” has the meaning specified in Section 8.2(a)(i). “Requisite Company Stockholders” means each of the holders of Company Capital Stock set forth on Section 8.2(c) of the Company Disclosure Letter. “Restricted Stock Award” means an award of restricted shares of Company Common Stock granted under the Company Incentive Plan, which includes any shares of Company Common Stock issued pursuant to early-exercised Company Options that remain subject to vesting conditions. “Restricted Stock Unit Award” means an award of restricted stock units based on shares of Company Common Stock (whether to be settled in cash or shares), granted under the Company Incentive Plan. “Sanctioned Country” means at any time, a country or territory which is itself the subject or target of any country-wide or territory-wide Sanctions Laws (at the time of this Agreement, the Crimea region, Cuba, Iran, North Korea and Syria). “Sanctioned Person” means (i) any Person identified in any sanctions-related list of designated Persons maintained by (a) the United States Department of the Treasury’s Office of Foreign Assets Control, the United States Department of Commerce, Bureau of Industry and Security, or the United States Department of State; (b) Her Majesty’s Treasury of the United Kingdom; (c) any committee of the United Nations Security Council; or (d) the European Union; (ii) any Person located, organized, or resident in, organized in, or a Governmental Authority or government instrumentality of, any Sanctioned Country; and (iii) any Person directly or indirectly owned or controlled by, or acting for the benefit or on behalf of, a Person described in clause (i) or (ii), either individually or in the aggregate. “Sanctions Laws” means those trade, economic and financial sanctions Laws administered, enacted or enforced from time to time by (i) the United States (including the Department of the Treasury’s Office of Foreign Assets Control), (ii) the European Union and enforced by its member states, (iii) the United Nations, or (iv) Her Majesty’s Treasury of the United Kingdom. “Sarbanes-Oxley Act” means the Sarbanes-Oxley Act of 2002. “SCH Group” has the meaning specified in Section 12.18(a). “SCH PIPE Investor” means a PIPE Investor that is set forth on Annex I to Section 5.12(e) of the Acquiror Disclosure Letter or an Affiliate of any such PIPE Investor to whom the applicable Subscription Agreement with such PIPE Investor is assigned in accordance with its terms after the date of this Agreement. Field: Page; Sequence: 22; Options: NewSection; Value: 16 “SCH Representative” has the meaning specific in Section 7.6(a)(ii). “SEC” means the United States Securities and Exchange Commission. “Securities Act” means the Securities Act of 1933, as amended. “Series A Preferred Stock” has the meaning specified in Section 4.6(a). “Series B Preferred Stock” has the meaning specified in Section 4.6(a). “Series C-1 Preferred Stock” has the meaning specified in Section 4.6(a). “Series C Preferred Stock” has the meaning specified in Section 4.6(a). “Series D-1 Preferred Stock” has the meaning specified in Section 4.6(a). “Series D Preferred Stock” has the meaning specified in Section 4.6(a)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 2945, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3ba18da50edd903a1017479c3d31fc817da73dea8f9d726da3f643ca44dc19dc", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 41277, "char_start": 38332, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Series D Preferred Warrants” has the meaning specified in Section 4.6(b). “Series E-1 Preferred Stock” has the meaning specified in Section 4.6(a). “Series E-2 Preferred Stock” has the meaning specified in Section 4.6(a). “Series E Preferred Stock” has the meaning specified in Section 4.6(a). “Series E Preferred Warrants” has the meaning specified in Section 4.6(b). “Shelf Registration” has the meaning set forth in Section 1.1 of the Registration Rights Agreement. “Skadden” has the meaning specified in Section 12.18(a). “Sponsor” means SCH Sponsor II LLC, a Cayman Islands limited liability company. “Sponsor Support Agreement” means that certain Support Agreement, dated as of the date hereof, by and among the Sponsor, Acquiror and the Company, as amended or modified from time to time. “Subscription Agreements” means the subscription agreements pursuant to which the PIPE Investment will be consummated. “Subsidiary” means, with respect to a Person, a corporation or other entity of which more than 50% of the voting power of the equity securities or equity interests is owned, directly or indirectly, by such Person. Field: Page; Sequence: 23; Value: 16 “Surviving Corporation” has the meaning specified in Section 2.1(b). “Tax Return” means any return, declaration, report, statement, information statement or other document filed or required to be filed with any Governmental Authority with respect to Taxes, including any claims for refunds of Taxes, any information returns and any schedules, attachments, amendments or supplements of any of the foregoing. “Taxes” means any and all federal, state, local, foreign or other taxes imposed by any Governmental Authority, including all income, gross receipts, license, payroll, recapture, net worth, employment, escheat and unclaimed property obligations, excise, severance, stamp, occupation, premium, windfall profits, environmental, customs duties, capital stock, ad valorem, value added, inventory, franchise, profits, withholding, social security (or similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, governmental charges, duties, levies and other similar charges imposed by a Governmental Authority in the nature of a tax, alternative or add-on minimum, or estimated taxes, and including any interest, penalty, or addition thereto. “Terminating Acquiror Breach” has the meaning specified in Section 10.1(g). “Terminating Company Breach” has the meaning specified in Section 10.1(e). “Third-Party PIPE Investment Amount” means the aggregate gross purchase price for all of the shares in the PIPE Investment that are to be purchased by a Third-Party PIPE Investor. “Third-Party PIPE Investor” means any PIPE Investor that is not (i) a SCH PIPE Investor or the Sponsor, or (ii) a Company PIPE Investor. “Title IV Plan” has the meaning specified in Section 4.13(c). “Top Vendors” has the meaning specified in Section 4.28(a)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 3974, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7fabd8ab64056cc6618857dca0412ade1c3cba61ecb4d995a90aae9220930932", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 45251, "char_start": 41277, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "“Transaction Expenses” means the following out-of-pocket fees and expenses paid or payable by the Company or any of its Subsidiaries (whether or not billed or accrued for) as a result of or in connection with the negotiation, documentation and consummation of the transactions contemplated hereby: (i) all fees, costs, expenses, brokerage fees, commissions, finders’ fees and disbursements of financial advisors, investment banks, data room administrators, attorneys, accountants and other advisors and service providers, (ii) change-in-control payments, transaction bonuses, retention payments, severance or similar compensatory payments payable by the Company or any of its Subsidiaries to any current or former employee (including any amounts due under any consulting agreement with any such former employee), independent contractor, officer, or director of the Company or any of its Subsidiaries as a result of the transactions contemplated hereby (and not tied to any subsequent event or condition, such as a termination of employment), including the employer portion of payroll Taxes arising therefrom, (iii) Transfer Taxes (other than any amounts constituting Transfer Taxes arising as result of the Pre-Closing Restructuring), (iv) any and all filing fees payable by the Company or any of its Subsidiaries to the Antitrust Authorities in connection with the transactions contemplated hereby, and (v) amounts owing or that may become owed, payable or otherwise due, directly or indirectly, by the Company or any of its Subsidiaries to any Affiliate of the Company or any of its Subsidiaries in connection with the consummation of the transactions contemplated hereby, including fees, costs and expenses related to the termination of any Affiliate Agreement. Field: Page; Sequence: 24; Value: 16 “Transaction Proposals” has the meaning specified in Section 8.2(b). “Transfer Taxes” has the meaning specified in Section 8.4. “Treasury Regulations” means the regulations promulgated under the Code by the United States Department of the Treasury (whether in final, proposed or temporary form), as the same may be amended from time to time. “Treasury Share” has the meaning specified in Section 3.1(a) “Trust Account” has the meaning specified in Section 12.1. “Trust Agreement” has the meaning specified in Section 5.8. “Trust Amount” has the meaning specified in Section 7.2(a). “Trustee” has the meaning specified in Section 5.8. “Unpaid Transaction Expenses” has the meaning specified in Section 2.4(c). “Updated Financial Statements” has the meaning specified in Section 6.3(a). “Warrant Agreement” means the Warrant Agreement, dated as of April 27, 2020, between Acquiror and Continental Stock Transfer & Trust Company. “Working Capital Loans” means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror’s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination. “Written Consent” has the meaning specified in Section 8.2(c). Section 1.2. Construction. (a) Unless the context of this Agreement otherwise requires, (i) words of any gender include each other gender; (ii) words using the singular or plural number also include the plural or singular number, respectively; (iii) the terms “hereof,” “herein,” “hereby,” “hereto” and derivative or similar words refer to this entire Agreement; (iv) the terms “Article” or “Section” refer to the specified Article or Section of this Agreement; (v) the word “including” shall mean “including, without limitation” and (vi) the word “or” shall be disjunctive but not exclusive. (b) Unless the context of this Agreement otherwise requires, references to statutes shall include all regulations promulgated thereunder and references to statutes or regulations shall be construed as including all statutory and regulatory provisions consolidating, amending or replacing the statute or regulation."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b54"], "char_count": 1905, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f81bd28fa898e3aceac525d126494d9078c38633a4be275451619cd92cf94f44", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 54, "char_end": 47156, "char_start": 45251, "fragment_sha256": "a452b27eb911e22e56a6d6f3cf437ff7918503b01d71f770c08bade592a5479b", "heading_path": ["TABLE OF CONTENTS", "CERTAIN DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p29", "passage_kind": "narrative", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s23", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 25; Value: 16 (c) Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified. (d) All accounting terms used herein and not expressly defined herein shall have the meanings given to them under GAAP. (e) The term “actual fraud” means, with respect to a party to this Agreement, an actual and intentional fraud with respect to the making of the representations and warranties pursuant to Article IV or Article V (as applicable), provided, that such actual and intentional fraud of such Person shall only be deemed to exist if any of the individuals included on Section 1.3 of the Company Disclosure Letter (in the case of the Company) or Section 1.3 of the Acquiror Disclosure Letter (in the case of Acquiror) had actual knowledge (as opposed to imputed or constructive knowledge) that the representations and warranties made by such Person pursuant to, in the case of the Company, Article IV as qualified by the Company Disclosure Letter, or, in the case of Acquiror, Article V as qualified by the Acquiror Disclosure Letter, were actually breached when made, with the express intention that the other party to this Agreement rely thereon to its detriment. (f) All references to the “wholly owned Subsidiaries” or any “wholly owned Subsidiary” of the Company shall be deemed to include Opendoor Property Acquisition Fund LP and Opendoor Property Trust I. Section 1.3. Knowledge. As used herein, (i) the phrase “to the knowledge” of the Company shall mean the knowledge of the individuals identified on Section 1.3 of the Company Disclosure Letter and (ii) the phrase “to the knowledge” of Acquiror shall mean the knowledge of the individuals identified on Section 1.3 of the Acquiror Disclosure Letter, in each case, as such individuals would have acquired in the exercise of a reasonable inquiry of direct reports."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b91"], "char_count": 3760, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ae0593e31dad83215768347b35dac7994e24d3c83d14215af1ecddf2f7954994", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "THE MERGER; CLOSING"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 91, "char_end": 3760, "char_start": 0, "fragment_sha256": "8c3df88fb78ac7ad289835cd1bae912c3f7f934d10a987a706f6a1060c722c94", "heading_path": ["TABLE OF CONTENTS", "THE MERGER; CLOSING"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s25", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 2.1. The Merger. (a) Upon the terms and subject to the conditions set forth in this Agreement, and following the Domestication, Acquiror, Merger Sub and the Company (Merger Sub and the Company sometimes being referred to herein as the “Constituent Corporations”) shall cause Merger Sub to be merged with and into the Company, with the Company being the surviving corporation in the Merger. The Merger shall be consummated in accordance with this Agreement and shall be evidenced by a certificate of merger with respect to the Merger (as so filed, the “Merger Certificate”), executed by the Constituent Corporations in accordance with the relevant provisions of the DGCL, such Merger to be effective as of the Effective Time. (b) Upon consummation of the Merger, the separate corporate existence of Merger Sub shall cease and the Company, as the surviving corporation of the Merger (hereinafter referred to for the periods at and after the Effective Time as the “Surviving Corporation”), shall continue its corporate existence under the DGCL, as a wholly owned subsidiary of Acquiror. Field: Page; Sequence: 26; Value: 16 Section 2.2. Effects of the Merger. At and after the Effective Time, the Surviving Corporation shall thereupon and thereafter possess all of the rights, privileges, powers and franchises, of a public as well as a private nature, of the Constituent Corporations, and shall become subject to all the restrictions, disabilities and duties of each of the Constituent Corporations; and all rights, privileges, powers and franchises of each Constituent Corporation, and all property, real, personal and mixed, and all debts due to each such Constituent Corporation, on whatever account, shall become vested in the Surviving Corporation; and all property, rights, privileges, powers and franchises, and all and every other interest shall become thereafter the property of the Surviving Corporation as they are of the Constituent Corporations; and the title to any real property vested by deed or otherwise or any other interest in real estate vested by any instrument or otherwise in either of such Constituent Corporations shall not revert or become in any way impaired by reason of the Merger; but all Liens upon any property of a Constituent Corporation shall thereafter attach to the Surviving Corporation and shall be enforceable against it to the same extent as if said debts, liabilities and duties had been incurred or contracted by it; all of the foregoing in accordance with the applicable provisions of the DGCL. Section 2.3. Closing; Effective Time. (a) In accordance with the terms and subject to the conditions of this Agreement, the closing of the Merger (the “Closing”) shall take place at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, One Manhattan West, New York, New York 10001, at 10:00 a.m. (New York time) on the date which is two (2) Business Days after the first date on which all conditions set forth in Article IX shall have been satisfied or waived (other than those conditions that by their terms are to be satisfied at the Closing, but subject to the satisfaction or waiver thereof) or such other time and place as Acquiror and the Company may mutually agree in writing. The date on which the Closing actually occurs is referred to in this Agreement as the “Closing Date”. (b) Subject to the satisfaction or waiver of all of the conditions set forth in Article IX of this Agreement, and provided this Agreement has not theretofore been terminated pursuant to its terms, Acquiror, Merger Sub, and the Company shall cause the Merger Certificate to be executed and duly submitted for filing with the Secretary of State of the State of Delaware in accordance with the applicable provisions of the DGCL."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b91"], "char_count": 3972, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "121097f3b07cc19a669ef5468903e0e516cac6c438deec4033536872d71778fa", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "THE MERGER; CLOSING"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 91, "char_end": 7732, "char_start": 3760, "fragment_sha256": "8c3df88fb78ac7ad289835cd1bae912c3f7f934d10a987a706f6a1060c722c94", "heading_path": ["TABLE OF CONTENTS", "THE MERGER; CLOSING"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s25", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "The Merger shall become effective at the time when the Merger Certificate has been accepted for filing by the Secretary of State of the State of Delaware, or at such later time as may be agreed by Acquiror and the Company in writing and specified in each of the Merger Certificate (the “Effective Time”). (c) For the avoidance of doubt, the Closing and the Effective Time shall occur after the completion of the Domestication. Section 2.4. Closing Deliverables. (a) At the Closing, the Company will deliver or cause to be delivered: (i) to Acquiror, a certificate signed by an officer of the Company, dated as of the Closing Date, certifying that, to the knowledge and belief of such officer, the conditions specified in Section 9.2(a) and Section 9.2(b) have been fulfilled; Field: Page; Sequence: 27; Value: 16 (ii) to Acquiror, the written resignations of all of the directors of the Company (other than any such Persons identified as initial directors of the Surviving Corporation, in accordance with Section 2.6), effective as of the Effective Time; (iii) to Acquiror, the Registration Rights Agreement, duly executed by the Major Company Stockholders who have elected to execute the Registration Rights Agreement; and (iv) to Acquiror, a certificate on behalf of the Company, prepared in a manner consistent and in accordance with the requirements of Treasury Regulation Sections 1.897-2(g), (h) and 1.1445-2(c)(3), certifying that no interest in the Company is, or has been during the relevant period specified in Section 897(c)(1)(A)(ii) of the Code, a “U.S. real property interest” within the meaning of Section 897(c) of the Code, and a form of notice to the Internal Revenue Service prepared in accordance with the provisions of Treasury Regulations Section 1.897-2(h)(2). (b) At the Closing, Acquiror will deliver or cause to be delivered: (i) to the Exchange Agent, the Aggregate Merger Consideration for further distribution to the Company’s stockholders pursuant to Section 3.2; (ii) to the Company, a certificate signed by an officer of Acquiror, dated the Closing Date, certifying that, to the knowledge and belief of such officer, the conditions specified in Section 9.3(a) and Section 9.3(b) have been fulfilled; (iii) to the Company, the Registration Rights Agreement, duly executed by duly authorized representatives of Acquiror and the Sponsor; and (iv) to the Company, the written resignations of all of the directors and officers of Acquiror and Merger Sub (other than those Persons identified as the initial directors and officers, respectively, of Acquiror after the Effective Time, in accordance with the provisions of Section 2.6 and Section 7.6), effective as of the Effective Time. (c) On the Closing Date, concurrently with the Effective Time, Acquiror shall pay or cause to be paid by wire transfer of immediately available funds, (i) all accrued transaction expenses of Acquiror and those incurred, accrued, paid or payable by Acquiror’s Affiliates on Acquiror’s behalf (which shall include any outstanding amounts under any Working Capital Loans) as set forth on a written statement to be delivered to the Company not less than two (2) Business Days prior to the Closing Date and (ii) all accrued and unpaid Transaction Expenses (“Unpaid Transaction Expenses”) as set forth on a written statement to be delivered to Acquiror by or on behalf of the Company not less than two (2) Business Days prior to the Closing Date, which shall include the respective amounts and wire transfer instructions for the payment thereof, together with corresponding invoices for the foregoing; provided, that any Unpaid Transaction Expenses due to current or former employees, independent contractors, officers, or directors of the Company or any of its Subsidiaries shall be paid to the Company for further payment to such employee, independent contractor, officer or director through the Company’s payroll. Field: Page; Sequence: 28; Value: 16 Section 2.5."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b91"], "char_count": 3184, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "709a57bcc068bbd36ab853dda187e98adf0872cace85cb9c214c606ef5adcfa3", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "THE MERGER; CLOSING"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 91, "char_end": 10916, "char_start": 7732, "fragment_sha256": "8c3df88fb78ac7ad289835cd1bae912c3f7f934d10a987a706f6a1060c722c94", "heading_path": ["TABLE OF CONTENTS", "THE MERGER; CLOSING"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s25", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Governing Documents. (a) The certificate of incorporation and bylaws of the Company in effect immediately prior to the Effective Time, shall be the certificate of incorporation and bylaws of the Surviving Corporation until thereafter amended as provided therein and under the DGCL. (b) The certificate of incorporation and bylaws of Acquiror as of immediately prior to the Effective Time (which shall be in the form attached as Exhibits A and B hereto (with such changes as may be agreed in writing by Acquiror and the Company) upon effectiveness of the Domestication), shall be the certificate of incorporation and bylaws of Acquiror from and after the Effective Time, until thereafter amended as provided therein and under the DGCL. Section 2.6. Directors and Officers. (a) The (i) officers of the Company as of immediately prior to the Effective Time, shall be the officers of the Surviving Corporation from and after the Effective Time, and (ii) the directors of Acquiror as of immediately after the Effective Time shall be the directors of the Surviving Corporation from and after the Effective Time, in each case, each to hold office in accordance with the Governing Documents of the Surviving Corporation. (b) The parties shall take all actions necessary to ensure that, from and after the Effective Time, the Persons identified as the initial post-Closing directors and officers of Acquiror in accordance with the provisions of Section 7.6 shall be the directors and officers (and in the case of such officers, holding such positions as are set forth on Section 2.6(b) of the Company Disclosure Letter), respectively, of Acquiror, each to hold office in accordance with the Governing Documents of Acquiror. Section 2.7. Tax Free Reorganization Matters. The parties intend that, for United States federal income tax purposes, the Merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code and the Treasury Regulations to which each of Acquiror and the Company are to be parties under Section 368(b) of the Code and the Treasury Regulations and this Agreement is intended to be, and is adopted as, a plan of reorganization for purposes of Sections 354, 361 and the 368 of the Code and within the meaning of Treasury Regulations Section 1.368-2(g). None of the parties knows of any fact or circumstance (without conducting independent inquiry or diligence of the other relevant party), or has taken or will take any action, if such fact, circumstance or action would be reasonably expected to cause the Merger to fail to qualify as a reorganization within the meaning of Section 368(a) of the Code and the Treasury Regulations. The Merger shall be reported by the parties for all Tax purposes in accordance with the foregoing, unless otherwise required by a Governmental Authority as a result of a “determination” within the meaning of Section 1313(a) of the Code. The parties shall cooperate with each other and their respective counsel to document and support the Tax treatment of the Merger as a “reorganization” within the meaning of Section 368(a) of the Code, including providing factual support letters. Field: Page; Sequence: 29; Value: 16"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b102"], "char_count": 3951, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "085984d7054afac7f1cf7c36a431571e12614a61e6b6851ddd7a7318a114f3a3", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 102, "char_end": 3951, "char_start": 0, "fragment_sha256": "6c2091f41e42424716cd27f51f2eecfbc65c423a63be8282063bfa17c71e3f8f", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s27", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 3.1. Conversion of Securities. (a) At the Effective Time (after giving effect to the consummation of the Pre-Closing Restructuring), by virtue of the Merger and without any action on the part of any holder of Company Common Stock, each share of Company Common Stock, in each case, that is issued and outstanding immediately prior to the Effective Time (other than (i) any shares of Company Common Stock subject to Company Awards (which shall be respectively subject to Section 3.3), (ii) any shares of Company Common Stock held in the treasury of the Company, which treasury shares shall be canceled as part of the Merger and shall not constitute “Company Capital Stock” hereunder (each such share, a “Treasury Share”), and (iii) any shares of Company Common Stock held by stockholders of the Company who have perfected and not withdrawn a demand for appraisal rights pursuant to the applicable provisions of the DGCL), shall be canceled and converted into the right to receive the applicable portion of the Aggregate Merger Consideration as determined pursuant to Section 3.1(c). (b) At the Effective Time, by virtue of the Merger and without any action on the part of Acquiror or Merger Sub, each share of Merger Sub Capital Stock, shall be converted into a share of common stock, par value $0.0001 of the Surviving Corporation. (c) Each holder of shares of Company Common Stock (after giving effect to the consummation of the Pre-Closing Restructuring) as of immediately prior to the Effective Time (other than in respect of (x) Treasury Shares, (y) Dissenting Shares, and (z) any shares of Company Common Stock subject to Company Awards (which shall be subject to Section 3.3)) shall be entitled to receive a portion of the Aggregate Merger Consideration equal to (i) the Exchange Ratio, multiplied by (ii) the number of shares of Company Common Stock held by such holder as of immediately prior to the Effective Time, with fractional shares rounded down to the nearest whole share. (d) Notwithstanding anything in this Agreement to the contrary, no fractional shares of Acquiror Common Stock shall be issued in the Merger. Section 3.2. Exchange Procedures (a) Prior to the Closing, Acquiror shall appoint an exchange agent (the “Exchange Agent”) to act as the agent for the purpose of paying the Aggregate Merger Consideration to the Company’s stockholders. At or before the Effective Time, Acquiror shall deposit with the Exchange Agent the number of shares of Acquiror Common Stock equal to the portion of the Aggregate Merger Consideration to be paid in shares of Acquiror Common Stock. (b) Reasonably promptly after the Effective Time, Acquiror shall send or shall cause the Exchange Agent to send, to each record holder of shares of Company Common Stock as of immediately prior to the Effective Time, whose Company Common Stock was converted pursuant to Section 3.1(a) into the right to receive a portion of the Aggregate Merger Consideration, a letter of transmittal and instructions (which shall specify that the delivery shall be effected, and the risk of loss and title shall pass, only upon proper transfer of each share to the Exchange Agent, and which letter of transmittal will be in customary form and have such other provisions as Acquiror may reasonably specify) for use in such exchange (each, a “Letter of Transmittal”). Field: Page; Sequence: 30; Value: 16 (c) Each holder of shares of Company Common Stock that have been converted into the right to receive a portion of the Aggregate Merger Consideration, pursuant to Section 3.1(a), shall be entitled to receive such portion of the Aggregate Merger Consideration, upon receipt of an “agent’s message” by the Exchange Agent (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request), together with a duly completed and validly executed Letter of Transmittal and such other documents as may reasonably be requested by the Exchange Agent."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b102"], "char_count": 3215, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cb13f4ea55899fe9465d35028527a4c3cf9dcbe6ac1bdb47614a086a8856955d", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 102, "char_end": 7166, "char_start": 3951, "fragment_sha256": "6c2091f41e42424716cd27f51f2eecfbc65c423a63be8282063bfa17c71e3f8f", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s27", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "No interest shall be paid or accrued upon the transfer of any share. (d) Promptly following the date that is one (1) year after the Effective Time, Acquiror shall instruct the Exchange Agent to deliver to Acquiror all documents in its possession relating to the transactions contemplated hereby, and the Exchange Agent’s duties shall terminate. Thereafter, any portion of the Aggregate Merger Consideration that remains unclaimed shall be returned to Acquiror, and any Person that was a holder of shares of Company Common Stock as of immediately prior to the Effective Time that has not exchanged such shares of Company Common Stock for an applicable portion of the Aggregate Merger Consideration in accordance with this Section 3.2 prior to the date that is one (1) year after the Effective Time, may transfer such shares of Company Common Stock to Acquiror and (subject to applicable abandoned property, escheat and similar Laws) receive in consideration therefor, and Acquiror shall promptly deliver, such applicable portion of the Aggregate Merger Consideration without any interest thereupon. None of Acquiror, Merger Sub, the Company, the Surviving Corporation or the Exchange Agent shall be liable to any Person in respect of any of the Aggregate Merger Consideration delivered to a public official pursuant to and in accordance with any applicable abandoned property, escheat or similar Laws. If any such shares shall not have not been transferred immediately prior to such date on which any amounts payable pursuant to this Article III would otherwise escheat to or become the property of any Governmental Authority, any such amounts shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation, free and clear of all claims or interest of any Person previously entitled thereto. Section 3.3. Treatment of Company Options, Restricted Stock Awards and Restricted Stock Unit Awards. (a) As of the Effective Time, each Company Option that is then outstanding shall be converted into the right to receive, an option relating to shares of Domesticated Acquiror Common Stock upon substantially the same terms and conditions as are in effect with respect to such option immediately prior to the Effective Time, including with respect to vesting and termination-related provisions (each, an “Acquiror Option”) except that (a) such Acquiror Option shall relate to that whole number of shares of Domesticated Acquiror Common Stock (rounded down to the nearest whole share) equal to the number of Company Common Shares subject to such Company Option, multiplied by the Exchange Ratio, and (b) the exercise price per share for each such Acquiror Option shall be equal to the exercise price per share of such Company Option in effect immediately prior to the Effective Time, divided by the Exchange Ratio (the exercise price per share, as so determined, being rounded up to the nearest full cent); provided, however, that the conversion of the Company Options will be made in a manner consistent with Treasury Regulation Section 1.424-1, such that such conversion will not constitute a “modification” of such Company Options for purposes of Section 409A or Section 424 of the Code."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b102"], "char_count": 3965, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d1e8a0e1212cf608ea88f84988a5ff4efddb3911d6c1e815d32d1e65df27a317", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 102, "char_end": 11131, "char_start": 7166, "fragment_sha256": "6c2091f41e42424716cd27f51f2eecfbc65c423a63be8282063bfa17c71e3f8f", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p35", "passage_kind": "narrative", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s27", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 31; Value: 16 (b) As of the Effective Time, each Restricted Stock Award that is outstanding immediately prior to the Effective Time shall be converted into the right to receive, restricted shares of Domesticated Acquiror Common Stock (each, an “Adjusted Restricted Stock Award”) with substantially the same terms and conditions as were applicable to such Restricted Stock Award immediately prior to the Effective Time (including with respect to vesting and termination-related provisions), except that such Adjusted Restricted Stock Award shall relate to such number of shares of Domesticated Acquiror Common Stock as is equal to the product of (i) the number of Company Common Shares subject to such Restricted Stock Award immediately prior to the Effective Time, multiplied by (ii) the Exchange Ratio, with any fractional shares rounded down to the nearest whole share. (c) As of the Effective Time, each Restricted Stock Unit Award that is outstanding immediately prior to the Effective Time shall be converted into the right to receive restricted stock units based on shares of Domesticated Acquiror Common Stock (each, an “Adjusted Restricted Stock Unit Award”) with substantially the same terms and conditions as were applicable to such Restricted Stock Unit Award immediately prior to the Effective Time (including with respect to vesting and termination-related provisions), except that such Adjusted Restricted Stock Unit Award shall relate to such number of shares of Domesticated Acquiror Common Stock as is equal to the product of (i) the number of shares of Company Common Stock subject to such Restricted Stock Unit Award immediately prior to the Effective Time, multiplied by (ii) the Exchange Ratio, with any fractional shares rounded down to the nearest whole share. (d) The Company shall take all necessary actions to effect the treatment of Company Options, Restricted Stock Awards and Restricted Stock Unit Awards pursuant to Sections 3.3(a), 3.3(b) and 3.3(c) in accordance with the Company Incentive Plan and the applicable award agreements and to ensure that no Acquiror Option may be exercised prior to the effective date of an applicable Form S-8 (or other applicable form, including Form S-1 or Form S-3) of Acquiror. The Board of Directors of the Company shall amend the Company Incentive Plan and take all other necessary actions, effective as of immediately prior to the Closing, in order to (i) cancel the remaining unallocated share reserve under the Company Incentive Plan and provide that shares in respect of Company Awards that for any reason become re-eligible for future issuance, shall be cancelled, (ii) provide that no new Company Awards will be granted under the Company Incentive Plan, and (iii) provide that no Company Options shall be subject to the Option Exchange Program, as defined therein. Section 3.4. Withholding. Notwithstanding any other provision to this Agreement, Acquiror, the Company and the Exchange Agent, as applicable, shall be entitled to deduct and withhold from any amount payable pursuant to this Agreement such Taxes that are required to be deducted and withheld from such amounts under the Code or any other applicable Law (as reasonably determined by Acquiror, the Company, or the Exchange Agent, respectively); provided, that Acquiror shall use commercially reasonable efforts to provide the Company with at least ten (10) days prior written notice of any amounts that it intends to withhold in connection with the payment of the Aggregate Merger Consideration and will reasonably cooperate with the Company to reduce or eliminate any applicable withholding. To the extent that any amounts are so deducted and withheld, such deducted and withheld amounts shall be (i) timely remitted to the appropriate Governmental Authority and (ii) treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction and withholding was made."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b102"], "char_count": 2050, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ff3fa9b23bdb6a2785f000371cccff6dce7264ab89cb88c319d908e162f932b5", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 102, "char_end": 13181, "char_start": 11131, "fragment_sha256": "6c2091f41e42424716cd27f51f2eecfbc65c423a63be8282063bfa17c71e3f8f", "heading_path": ["TABLE OF CONTENTS", "EFFECTS OF THE MERGER ON THE COMPANY CAPITAL STOCK AND EQUITY AWARDS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s27", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 32; Value: 16 Section 3.5. Dissenting Shares. Notwithstanding any provision of this Agreement to the contrary, shares of Company Common Stock issued and outstanding immediately prior to the Effective Time and held by a holder who has not voted in favor of adoption of this Agreement or consented thereto in writing and who is entitled to demand and has properly exercised appraisal rights of such shares in accordance with Section 262 of the DGCL (such shares of Company Common Stock being referred to collectively as the “Dissenting Shares” until such time as such holder fails to perfect or otherwise waives, withdraws, or loses such holder’s appraisal rights under the DGCL with respect to such shares) shall not be converted into a right to receive a portion of the Aggregate Merger Consideration, but instead shall be entitled to only such rights as are granted by Section 262 of the DGCL; provided, however, that if, after the Effective Time, such holder fails to perfect, waives, withdraws, or loses such holder’s right to appraisal pursuant to Section 262 of the DGCL, or if a court of competent jurisdiction shall determine that such holder is not entitled to the relief provided by Section 262 of the DGCL, such shares of Company Common Stock shall be treated as if they had been converted as of the Effective Time into the right to receive the Aggregate Merger Consideration in accordance with Section 3.1 without interest thereon, upon transfer of such shares. The Company shall provide Acquiror prompt written notice of any demands received by the Company for appraisal of shares of Company Common Stock, any waiver or withdrawal of any such demand, and any other demand, notice, or instrument delivered to the Company prior to the Effective Time that relates to such demand. Except with the prior written consent of Acquiror (which consent shall not be unreasonably conditioned, withheld, delayed or denied), the Company shall not make any payment with respect to, or settle, or offer to settle, any such demands."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3847, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "da9a07409aa8eb3e6f24710e8e93b68137c6850def75254a1f6d5ee2c7be3f1d", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 3847, "char_start": 0, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Except (i) as set forth in the disclosure letter delivered to Acquiror and Merger Sub by the Company on the date of this Agreement (the “Company Disclosure Letter”) (each section of which, subject to Section 12.9, qualifies the correspondingly numbered and lettered representations in this Article IV) and (ii) as otherwise explicitly contemplated by the Pre-Closing Restructuring Plan, in each case, the Company represents and warrants to Acquiror and Merger Sub as follows: Section 4.1. Company Organization. The Company has been duly formed or organized and is validly existing under the Laws of its jurisdiction of incorporation or organization, and has the requisite company or corporate power, as applicable, and authority to own, lease or operate all of its properties and assets and to conduct its business as it is now being conducted. The Governing Documents of the Company, as amended to the date of this Agreement and as previously made available by or on behalf of the Company to Acquiror, are true, correct and complete. The Company is duly licensed or qualified and in good standing as a foreign or extra-provincial corporation (or other entity, if applicable) in each jurisdiction in which its ownership of property or the character of its activities is such as to require it to be so licensed or qualified or in good standing, as applicable, except where the failure to be so licensed or qualified or in good standing would not be material to the business of the Company and its Subsidiaries, taken as a whole. Field: Page; Sequence: 33; Value: 16 Section 4.2. Subsidiaries. A complete list of each Subsidiary of the Company and its jurisdiction of incorporation, formation or organization, as applicable, is set forth on Section 4.2 of the Company Disclosure Letter. The Subsidiaries of the Company have been duly formed or organized and are validly existing under the Laws of their jurisdiction of incorporation or organization and have the requisite power and authority to own, lease or operate all of their respective properties and assets and to conduct their respective businesses as they are now being conducted. True, correct and complete copies of the Governing Documents of the Company’s Subsidiaries, in each case, as amended to the date of this Agreement, have been previously made available to Acquiror by or on behalf of the Company. Each Subsidiary of the Company is duly licensed or qualified and in good standing as a foreign or extra-provincial corporation (or other entity, if applicable) in each jurisdiction in which its ownership of property or the character of its activities is such as to require it to be so licensed or qualified or in good standing, as applicable, except where the failure to be so licensed or qualified or in good standing would not have, or would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. Section 4.3. Due Authorization. (a) Other than the Company Stockholder Approvals, the Company has all requisite company or corporate power, as applicable, and authority to execute and deliver this Agreement and the other documents to which it is a party contemplated hereby and (subject to the approvals described in Section 4.5) to consummate the transactions contemplated hereby and thereby and to perform all of its obligations hereunder and thereunder. The execution and delivery of this Agreement and the other documents to which the Company is a party contemplated hereby and the consummation of the transactions contemplated hereby and thereby have been duly and validly authorized and approved by the Board of Directors of the Company, and no other company or corporate proceeding on the part of the Company is necessary to authorize this Agreement and the other documents to which the Company is a party contemplated hereby."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3545, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dd96dd77fbfbbcecb7098bdcf71b67bc0dacdbd4ae1f1c0c91ca3c8cfa924943", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 7392, "char_start": 3847, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "This Agreement has been, and on or prior to the Closing, the other documents to which the Company is a party contemplated hereby will be, duly and validly executed and delivered by the Company and this Agreement constitutes, and on or prior to the Closing, the other documents to which the Company is a party contemplated hereby will constitute, a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity. (b) On or prior to the date of this Agreement, the Board of Directors of the Company has duly adopted resolutions (i) determining that this Agreement and the other documents to which the Company is a party contemplated hereby and the transactions contemplated hereby and thereby are advisable and fair to, and in the best interests of, the Company and its stockholders, as applicable, and (ii) authorizing and approving the execution, delivery and performance by the Company of this Agreement and the other documents to which the Company is a party contemplated hereby and the transactions contemplated hereby and thereby. No other corporate action is required on the part of the Company or any of its stockholders to enter into this Agreement or the documents to which the Company is a party contemplated hereby or to approve the Merger other than the Company Stockholder Approvals. Field: Page; Sequence: 34; Value: 16 Section 4.4. No Conflict. Subject to the receipt of the consents, approvals, authorizations and other requirements set forth in Section 4.5 and except as set forth on Section 4.4 of the Company Disclosure Letter, the execution and delivery by the Company of this Agreement and the documents to which the Company is a party contemplated hereby and the consummation of the transactions contemplated hereby and thereby do not and will not (a) violate or conflict with any provision of, or result in the breach of, or default under the Governing Documents of the Company, (b) violate or conflict with any provision of, or result in the breach of, or default under any Law or Governmental Order applicable to the Company or any of the Company’s Subsidiaries, (c) violate or conflict with any provision of, or result in the breach of, result in the loss of any right or benefit, or cause acceleration, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under any Contract of the type described in Section 4.12(a) to which the Company or any of the Company’s Subsidiaries is a party or by which the Company or any of the Company’s Subsidiaries may be bound, or terminate or result in the termination of any such foregoing Contract or (d) result in the creation of any Lien (other than Permitted Liens) upon any of the properties or assets of the Company or any of the Company’s Subsidiaries, except, in the case of clauses (b) through (d), to the extent that the occurrence of the foregoing would not (i) have, or would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of the Company to enter into and perform their obligations under this Agreement or (ii) be material to the business of the Company and its Subsidiaries, taken as a whole. Section 4.5. Governmental Authorities; Consents."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3359, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "059ef058e1b32ffb852ee2739686e0df767fd2afd7f359bbb3462b28f3c47c62", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 10751, "char_start": 7392, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p39", "passage_kind": "narrative", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Assuming the truth and completeness of the representations and warranties of Acquiror contained in this Agreement, no consent, waiver, approval or authorization of, or designation, declaration or filing with, or notification to, any Governmental Authority (each, a “Governmental Authorization”) is required on the part of the Company or its Subsidiaries with respect to the Company’s execution or delivery of this Agreement or the consummation by the Company of the transactions contemplated hereby, except for (i) applicable requirements of the HSR Act; (ii) any consents, approvals, authorizations, designations, declarations, waivers or filings, the absence of which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Company to perform or comply with on a timely basis any material obligation of the Company under this Agreement or to consummate the transactions contemplated hereby and (iii) the filing of the Merger Certificate in accordance with the DGCL. Field: Page; Sequence: 35; Value: 16 Section 4.6. Capitalization of the Company. (a) As of the date of this Agreement, the authorized capital stock of the Company consists of (x) 300,000,000 shares of Company Common Stock, of which 55,294,978 shares are issued and outstanding as of the date of this Agreement, and (y) 199,623,002 shares of Company Preferred Stock (of which (i) 24,784,202 shares are designated Series A Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the “Series A Preferred Stock”), (ii) 14,738,907 shares are designated Series B Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the “Series B Preferred Stock”), (iii) 14,120,082 shares are designated Series C Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the “Series C Preferred Stock”), (iv) 3,852,052 shares are designated Series C-1 Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the “Series C-1 Preferred Stock”), (v) 24,618,212 shares are designated Series D Preferred Stock, par value $0.00001 per share, 24,318,212 of which are issued and outstanding as of the date of this Agreement (the “Series D Preferred Stock”), (vi) 14,920,858 shares are designated Series D-1 Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the “Series D-1 Preferred Stock”), (vii) 77,594,477 shares are designated Series E Preferred Stock, par value $0.00001 per share, 73,940,269 of which are issued and outstanding as of the date of this Agreement (the “Series E Preferred Stock”), (viii) 2,486,560 shares are designated Series E-1 Preferred Stock, par value $0.00001 per share, all of which are issued and outstanding as of the date of this Agreement (the “Series E-1 Preferred Stock”) and (ix) 22,507,652 shares are designated Series E-2 Preferred Stock, par value $0.00001 per share, 21,222,829 of which are issued and outstanding as of the date of this Agreement (the “Series E-2 Preferred Stock”)), and there are no other authorized equity interests of the Company that are issued and outstanding."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3810, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "eee407c7eef4e4cfa56a791fd83c2eeb657c0ced5223afa08db2b747e9996c55", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 14561, "char_start": 10751, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p40", "passage_kind": "narrative", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "All of the issued and outstanding shares of Company Capital Stock (i) have been duly authorized and validly issued and are fully paid and non-assessable; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) the Governing Documents of the Company and (2) any other applicable Contracts governing the issuance of such securities; (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, the Governing Documents of the Company or any Contract to which the Company is a party or otherwise bound; and (iv) are free and clear of any Liens. All shares of Company Common Stock are uncertificated, book-entry shares. (b) As of the date of this Agreement, (x) Company Common Warrants to purchase 2,083,749 shares of Company Common Stock are authorized and outstanding (of which (i) 758,246 warrant shares are designated Common 1 Warrants (the “Common 1 Warrants”), (ii) 44,586 warrant shares are designated Common 2 Warrants (the “Common 2 Warrants”), (iii) 50,000 warrant shares are designated Common 3 Warrants (the “Common 3 Warrants”), (iv) 1,228,305 warrant shares are designated Common 4 Warrants (the “Common 4 Warrants”) and (v) 2,612 warrant shares are designated Common 5 Warrants (the “Common 5 Warrants”)), (y) Company Common Warrants to purchase 750,255 shares of Company Common Stock are authorized, but not outstanding, which warrant shares are designated Common 6 Warrants (the “Common 6 Warrants”), and (z) Company Preferred Warrants to purchase 525,076 shares of Company Preferred Stock are authorized and outstanding (of which (i) 300,000 warrant shares are designated Series D Preferred Warrants (the “Series D Preferred Warrants”), and (ii) 225,076 warrant shares are designated Series E Preferred Warrants (the “Series E Preferred Warrants”)). All outstanding Company Warrants (i) have been duly authorized and validly issued and constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) the Governing Documents of the Company and (2) any other applicable Contracts governing the issuance of such securities; and (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, the Governing Documents of the Company or any Contract to which the Company is a party or otherwise bound; and (iv) are free and clear of any Liens. Field: Page; Sequence: 36; Value: 16 (c) As of the date of this Agreement, (i) Company Options to purchase 17,888,078 shares of Company Common Stock, with an aggregate exercise price equal to $52,820,445.34, of which 8,367,102 Company Options that have not been exercised have early exercise features, (ii) Restricted Stock Awards with respect to 48,865 shares of Company Common Stock, of which 48,865 shares of restricted Company Common Stock have been received upon the early exercise of Company Options and are subject to vesting conditions as of the date of this Agreement, and (iii) Restricted Stock Unit Awards with respect to 19,686,314 shares of Company Common Stock, are outstanding."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 2945, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "12901be06a709e32c1326b23e562f33df97fc535604d69608232088a947f9bf6", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 17506, "char_start": 14561, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "The Company has provided to Acquiror, prior to the date of this Agreement, a true and complete list of each current or former employee, consultant or director of the Company or any of its Subsidiaries who, as of the date of this Agreement, holds a Company Award, including the type of Company Award, the number of shares of Company Common Stock subject thereto, vesting schedule and, if applicable, the exercise price thereof. All Company Options, Restricted Stock Awards and Restricted Stock Unit Awards are evidenced by award agreements in substantially the forms previously made available to Acquiror, and no Company Option, Restricted Stock Award or Restricted Stock Unit Award, is subject to terms that are materially different from those set forth in such forms. Each Company Option, each Restricted Stock Award, and each Restricted Stock Unit Award, was validly issued and properly approved by, the Board of Directors of the Company (or appropriate committee thereof). (d) Except as otherwise set forth in this Section 4.6 or on Section 4.6(d) of the Company Disclosure Letter, the Company has not granted any outstanding subscriptions, options, stock appreciation rights, warrants, rights or other securities (including debt securities) convertible into or exchangeable or exercisable for shares of Company Capital Stock, any other commitments, calls, conversion rights, rights of exchange or privilege (whether pre-emptive, contractual or by matter of Law), plans or other agreements of any character providing for the issuance of additional shares, the sale of treasury shares or other equity interests, or for the repurchase or redemption of shares or other equity interests of the Company or the value of which is determined by reference to shares or other equity interests of the Company, and there are no voting trusts, proxies or agreements of any kind which may obligate the Company to issue, purchase, register for sale, redeem or otherwise acquire any shares of Company Capital Stock. Section 4.7. Capitalization of Subsidiaries. (a) The outstanding shares of capital stock or equity interests of each of the Company’s Subsidiaries (i) have been duly authorized and validly issued, are, to the extent applicable, fully paid and non-assessable; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) the Governing Documents of each such Subsidiary, and (2) any other applicable Contracts governing the issuance of such securities; (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, the Governing Documents of each such Subsidiary or any Contract to which each such Subsidiary is a party or otherwise bound; and (iv) are free and clear of any Liens."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3401, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "acddba37adb9593487fbe5f205d989346a8d7dc35289083e37598eac978d4840", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 20907, "char_start": 17506, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p42", "passage_kind": "narrative", "passage_sequence": 42, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 37; Value: 16 (b) The Company owns of record and beneficially all the issued and outstanding shares of capital stock or equity interests of such Subsidiaries free and clear of any Liens other than Permitted Liens. (c) Except as set forth on Section 4.7(c) of the Company Disclosure Letter, there are no outstanding subscriptions, options, warrants, rights or other securities (including debt securities) exercisable or exchangeable for any capital stock of such Subsidiaries, any other commitments, calls, conversion rights, rights of exchange or privilege (whether pre-emptive, contractual or by matter of Law), plans or other agreements of any character providing for the issuance of additional shares, the sale of treasury shares or other equity interests, or for the repurchase or redemption of shares or other equity interests of such Subsidiaries or the value of which is determined by reference to shares or other equity interests of the Subsidiaries, and there are no voting trusts, proxies or agreements of any kind which may obligate any Subsidiary of the Company to issue, purchase, register for sale, redeem or otherwise acquire any of its capital stock. Section 4.8. Financial Statements. (a) Attached as Section 4.8(a) of the Company Disclosure Letter are: true and complete copies of the audited consolidated balance sheets and statements of operations, comprehensive loss, stockholders’ equity and cash flows of the Company and its Subsidiaries as of and for the years ended December 31, 2019 and December 31, 2018, together with the auditor’s reports thereon (together with the Updated Financial Statements, when delivered pursuant to Section 6.3(a), the “Audited Financial Statements” and, together with the 1H Financial Statements, when delivered pursuant to Section 6.3(b), the “Financial Statements”). (b) Except as set forth on Section 4.8(b) of the Company Disclosure Letter, the Audited Financial Statements and, when delivered pursuant to Section 6.3(b), the 1H Financial Statements (i) fairly present in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries, as at the respective dates thereof, and the consolidated results of their operations, their consolidated incomes, their consolidated changes in stockholders’ equity (with respect to the Audited Financial Statements only) and their consolidated cash flows for the respective periods then ended (subject, in the case of the 1H Financial Statements, to normal year-end adjustments and the absence of footnotes), (ii) were prepared in conformity with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto and, in the case of the 1H Financial Statements, the absence of footnotes or the inclusion of limited footnotes), (iii) were prepared from, and are in accordance in all material respects with, the books and records of the Company and its consolidated Subsidiaries and (iv) when delivered by the Company for inclusion in the Registration Statement for filing with the SEC following the date of this Agreement in accordance with Section 6.3, will comply in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant, in effect as of the respective dates thereof."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3800, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "427f489398cefdde067a9eca78c95d126c17311bc599221434ff49616a1e5dcf", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 24707, "char_start": 20907, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 38; Value: 16 Field: Split-Segment; Name: 4 (c) Neither the Company (including, to the knowledge of the Company, any employee thereof) nor any independent auditor of the Company has identified or been made aware of (i) any significant deficiency or material weakness in the system of internal accounting controls utilized by the Company, (ii) any fraud, whether or not material, that involves the Company’s management or other employees who have a role in the preparation of financial statements or the internal accounting controls utilized by the Company or (iii) any claim or allegation regarding any of the foregoing. Section 4.9. Undisclosed Liabilities. Except as set forth on Section 4.9 of the Company Disclosure Letter, there is no other liability, debt (including Indebtedness) or obligation of, or claim or judgment against, the Company or any of the Company’s Subsidiaries (whether direct or indirect, absolute or contingent, accrued or unaccrued, known or unknown, liquidated or unliquidated, or due or to become due), except for liabilities, debts, obligations, claims or judgments (a) reflected or reserved for on the Financial Statements or disclosed in the notes thereto, (b) that have arisen since the date of the most recent balance sheet included in the Financial Statements in the ordinary course of business, consistent with past practice, of the Company and its Subsidiaries or (c) that will be discharged or paid off prior to or at the Closing. Section 4.10. Litigation and Proceedings. Except as set forth on Section 4.10 of the Company Disclosure Letter, as of the date hereof (a) there are no pending or, to the knowledge of the Company, threatened, lawsuits, actions, suits, judgments, claims, proceedings or any other Actions (including any investigations or inquiries initiated, pending or threatened by any Governmental Authority), or other proceedings at law or in equity (collectively, “Legal Proceedings”), against the Company or any of the Company’s Subsidiaries or their respective properties or assets; and (b) there is no outstanding Governmental Order imposed upon the Company or any of the Company’s Subsidiaries; nor are any properties or assets of the Company or any of the Company’s Subsidiaries’ respective businesses bound or subject to any Governmental Order, except, in each case, as would not be, or would not reasonably be expected to be, material to the business of the Company and its Subsidiaries, taken as a whole. Section 4.11. Legal Compliance. (a) As of the date hereof, each of the Company and its Subsidiaries is in compliance with all applicable Laws in all material respects. (b) For the past three (3) years, none of the Company or any of its Subsidiaries has received any written notice of, or been charged with, the violation of any Laws, except where such violation has not been material to the business of the Company and its Subsidiaries, taken as a whole. (c) The Company and its Subsidiaries maintain a program of policies, procedures and internal controls reasonably designed and implemented to provide reasonable assurance that violation of applicable Law by any of the Company’s or its Subsidiaries’ directors, officers, employees or its or their respective agents, representatives or other Persons, acting on behalf of the Company or any of the Company’s Subsidiaries, will be prevented, detected and deterred. Field: Page; Sequence: 39; Options: NewSection; Value: 33 Section 4.12. Contracts; No Defaults. (a) Section 4.12(a) of the Company Disclosure Letter contains a listing of all Contracts described in clauses (i) through (xv) below to which, as of the date of this Agreement, the Company or any of the Company’s Subsidiaries is a party or by which they are bound, other than a Company Benefit Plan."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 5360, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e99f1c7a844309ac6f8b5accfbd41945acb7f4760defaa51f81e9038baa67e1f", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 30067, "char_start": 24707, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p44", "passage_kind": "narrative", "passage_sequence": 44, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "True, correct and complete copies of the Contracts listed on Section 4.12(a) of the Company Disclosure Letter have previously been delivered to or made available to Acquiror or its agents or representatives, together with all amendments thereto. (i) Any Contract with any of the Top Vendors; (ii) Each note, debenture, other evidence of Indebtedness, guarantee, loan, credit or financing agreement or instrument or other Contract for money borrowed by the Company or any of the Company’s Subsidiaries, including (A) the Inventory Financing Documents, and (B) any other agreement or commitment for future loans, credit or financing, in each case, in excess of $1,000,000; (iii) Each Contract for the acquisition of any Person or any business unit thereof or the disposition of any material assets of the Company or any of its Subsidiaries in the last two (2) years, in each case, involving payments in excess of $1,000,000 other than Contracts (A) in which the applicable acquisition or disposition has been consummated and there are no material obligations ongoing, or (B) between the Company and its wholly owned Subsidiaries; (iv) Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Contract that provides for the ownership of, leasing of, title to, use of, or any leasehold or other interest in any real or personal property that involves aggregate payments in excess of $1,000,000 in any calendar year, other than Contracts for the purchase or sale of the Owned Residential Properties; (v) Each Contract involving the formation of a (A) joint venture, (B) partnership, or (C) limited liability company (excluding, in the case of clauses (B) and (C), any wholly owned Subsidiary of the Company); (vi) Contracts (other than employment agreements, employee confidentiality and invention assignment agreements, equity or incentive equity documents and Governing Documents) between the Company and its Subsidiaries, on the one hand, and Affiliates of the Company or any of the Company’s Subsidiaries (other than the Company or any of the Company’s Subsidiaries), the officers and managers (or equivalents) of the Company or any of the Company’s Subsidiaries, the members or stockholders of the Company or any of the Company’s Subsidiaries, any employee of the Company or any of the Company’s Subsidiaries or a member of the immediate family of the foregoing Persons, on the other hand (collectively, “Affiliate Agreements”); Field: Page; Sequence: 40; Value: 33 (vii) Contracts with each current executive, officer, director or current employee of the Company or its Subsidiaries with a title of Vice President or higher; (viii) Contracts with any employee or consultant of the Company or any of the Company’s Subsidiaries that provide for change in control, retention or similar payments or benefits contingent upon, accelerated by or triggered by the consummation of the transactions contemplated hereby; (ix) Contracts containing covenants of the Company or any of the Company’s Subsidiaries (A) prohibiting or limiting the right of the Company or any of the Company’s Subsidiaries to engage in or compete with any Person in any line of business in any material respect or (B) prohibiting or restricting the Company’s and the Company’s Subsidiaries’ ability to conduct their business with any Person in any geographic area in any material respect; (x) Any collective bargaining (or similar) agreement or Contract between the Company or any of the Company’s Subsidiaries, on one hand, and any labor union or other body representing employees of the Company or any of the Company’s Subsidiaries, on the other hand; (xi) Each Contract (including license agreements, coexistence agreements, and agreements with covenants not to sue, but not including non-disclosure agreements, contractor services agreements, consulting services agreements, incidental trademark licenses incident to marketing, printing or advertising Contracts) pursuant to which the Company or any of the Company’s Subsidiaries (i) grants to a third Person the right to use material Intellectual Property of the Company and its Subsidiaries or (ii) is granted by a third Person the right to use Intellectual Property that is material to the business of the Company and its Subsidiaries (other than Contracts granting nonexclusive rights to use commercially available off-the-shelf software and Open Source Licenses); (xii) Each Contract requiring capital expenditures by the Company or any of the Company’s Subsidiaries after the date of this Agreement in an amount in excess of $1,000,000 in any calendar year; (xiii) Any Contract that (A) grants to any third Person any “most favored nation rights” or (B) grants to any third Person price guarantees for a period greater than one (1) year from the date of this Agreement and requires aggregate future payments to the Company and its Subsidiaries in excess of $1,000,000 in any calendar year; (xiv) Contracts granting to any Person (other than the Company or its Subsidiaries) a right of first refusal, first offer or similar preferential right to purchase or acquire equity interests in the Company or any of the Company’s Subsidiaries; and (xv) Any outstanding written commitment to enter into any Contract of the type described in subsections (i) through (xiv) of this Section 4.12(a)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 2900, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8eafeee0cb4f12c65aa505f1f07b9b76a2abccb2b1fab08e7b9d315be8131639", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 32967, "char_start": 30067, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p45", "passage_kind": "narrative", "passage_sequence": 45, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 41; Value: 33 (b) Except for any Contract that will terminate upon the expiration of the stated term thereof prior to the Closing Date, all of the Contracts listed pursuant to Section 4.12(a) in the Company Disclosure Letter are (i) in full force and effect and (ii) represent the legal, valid and binding obligations of the Company or the Subsidiary of the Company party thereto and, to the knowledge of the Company, represent the legal, valid and binding obligations of the counterparties thereto. Except, in each case, where the occurrence of such breach or default or failure to perform would not be material to the Company and its Subsidiaries, taken as a whole, (x) the Company and its Subsidiaries have performed in all respects all respective obligations required to be performed by them to date under such Contracts listed pursuant to Section 4.12(a) and neither the Company, the Company’s Subsidiaries, nor, to the knowledge of the Company, any other party thereto is in breach of or default under any such Contract, (y) during the last twelve (12) months, neither the Company nor any of its Subsidiaries has received any written claim or written notice of termination or breach of or default under any such Contract, and (z) to the knowledge of the Company, no event has occurred which individually or together with other events, would reasonably be expected to result in a breach of or a default under any such Contract by the Company or its Subsidiaries or, to the knowledge of the Company, any other party thereto (in each case, with or without notice or lapse of time or both). Section 4.13. Company Benefit Plans. (a) Section 4.13(a) of the Company Disclosure Letter sets forth a complete list, as of the date hereof, of each material Company Benefit Plan. For purposes of this Agreement, a “Company Benefit Plan” means an “employee benefit plan” as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, (“ERISA”) or any other plan, policy, program or agreement (including any employment, bonus, incentive or deferred compensation, employee loan, note or pledge agreement, equity or equity-based compensation, severance, retention, supplemental retirement, change in control or similar plan, policy, program or agreement) providing compensation or other benefits to any current or former director, officer, individual consultant, worker or employee, which are maintained, sponsored or contributed to by the Company or any of the Company’s Subsidiaries, or to which the Company or any of the Company’s Subsidiaries is a party or has or may have any liability, and in each case whether or not (i) subject to the Laws of the United States, (ii) in writing or (iii) funded, but excluding in each case any statutory plan, program or arrangement that is required under applicable law and maintained by any Governmental Authority."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 2501, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7d23226c5fe815c9e3d7f57a39bf324eb601ec2f2c74eeeabafa5cb34d04a382", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 35468, "char_start": 32967, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "With respect to each material Company Benefit Plan, the Company has made available to Acquiror, to the extent applicable, true, complete and correct copies of (A) such Company Benefit Plan (or, if not written a written summary of its material terms) and all plan documents, trust agreements, insurance Contracts or other funding vehicles and all amendments thereto, (B) the most recent summary plan descriptions, including any summary of material modifications, (C) the most recent annual reports (Form 5500 series) filed with the IRS with respect to such Company Benefit Plan, (D) the most recent actuarial report or other financial statement relating to such Company Benefit Plan, and (E) the most recent determination or opinion letter, if any, issued by the IRS with respect to any Company Benefit Plan and any pending request for such a determination letter. (b) Except as set forth on Section 4.13(b) of the Company Disclosure Letter, (i) each Company Benefit Plan has been operated and administered in compliance with its terms and all applicable Laws, including ERISA and the Code, except where the failure to comply would not reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole; (ii) in all material respects, all contributions required to be made with respect to any Company Benefit Plan on or before the date hereof have been made and all obligations in respect of each Company Benefit Plan as of the date hereof have been accrued and reflected in the Company’s financial statements to the extent required by GAAP; (iii) each Company Benefit Plan which is intended to be qualified within the meaning of Section 401(a) of the Code has received a favorable determination or opinion letter from the IRS as to its qualification or may rely upon an opinion letter for a prototype plan and, to the knowledge of the Company, no fact or event has occurred that would reasonably be expected to adversely affect the qualified status of any such Company Benefit Plan. Field: Page; Sequence: 42; Value: 33 (c) No Company Benefit Plan is a multiemployer pension plan (as defined in Section 3(37) of ERISA) (a “Multiemployer Plan”) or other pension plan that is subject to Title IV of ERISA (“Title IV Plan”), and neither the Company nor any of its ERISA Affiliates has sponsored or contributed to, been required to contribute to, or had any actual or contingent liability under, a Multiemployer Plan or Title IV Plan at any time within the previous six (6) years."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3560, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "aa55937c7920a477962553860ee14e7707b72de79d0dab31f367ca5c188b0f55", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 39028, "char_start": 35468, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p47", "passage_kind": "narrative", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Neither the Company nor any of its ERISA Affiliates has incurred any withdrawal liability under Section 4201 of ERISA that has not been fully satisfied. (d) With respect to each Company Benefit Plan, no material actions, suits or claims (other than routine claims for benefits in the ordinary course) are pending or, to the knowledge of the Company, threatened, and to the knowledge of the Company, no facts or circumstances exist that would reasonably be expected to give rise to any such actions, suits or claims. (e) No Company Benefit Plan provides medical, surgical, hospitalization, death or similar benefits (whether or not insured) for employees or former employees of the Company or any Subsidiary for periods extending beyond their retirement or other termination of service, other than (i) coverage mandated by applicable Law, (ii) death benefits under any “pension plan,” or (iii) benefits the full cost of which is borne by the current or former employee (or his or her beneficiary). (f) Except as set forth on Section 4.13(f) of the Company Disclosure Letter, the consummation of the transactions contemplated hereby will not, either alone or in combination with another event (such as termination following the consummation of the transactions contemplated hereby), (i) entitle any current or former employee, officer or other service provider of the Company or any Subsidiary of the Company to any severance pay or any other compensation or benefits payable or to be provided by the Company or any Subsidiary of the Company, except for the Management Grants, as expressly provided in this Agreement, (ii) accelerate the time of payment, funding or vesting, or increase the amount of compensation or benefits due any such employee, officer or other individual service provider by the Company or a Subsidiary of the Company, or (iii) accelerate the vesting and/or settlement of any Company Award. The consummation of the transactions contemplated hereby will not, either alone or in combination with another event, result in any “excess parachute payment” under Section 280G of the Code. No Company Benefit Plan provides for a Tax gross-up, make whole or similar payment with respect to the Taxes imposed under Sections 409A or 4999 of the Code. Field: Page; Sequence: 43; Value: 33 (g) All Company Options have been granted in accordance with the terms of the Company Incentive Plan. Each Company Option has been granted with an exercise price that is no less than the fair market value of the underlying Company Common Stock on the date of grant, as determined in accordance with Section 409A of the Code or Section 422 of the Code, if applicable. Each Company Option is intended to either qualify as an “incentive stock option” under Section 422 of the Code or to be exempt under Section 409A of the Code. The Company has made available to Acquiror, accurate and complete copies of (i) the Company Incentive Plan, (ii) the forms of standard award agreement under the Company Incentive Plan, (iii) copies of any award agreements that materially deviate from such forms and (iv) a list of all outstanding equity and equity-based awards granted under any Company Incentive Plan, together with the material terms thereof (including but not limited to grant date, exercise price, vesting terms, form of award, expiration date, and number of shares underlying such award). The treatment of Company Options under this Agreement does not violate the terms of the Company Incentive Plan or any Contract governing the terms of such awards. Section 4.14."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3305, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "665401a327947ca809731ff90e57ebab5f5ed033eec7dce9ebf3baf2226129b9", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 42333, "char_start": 39028, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Labor Relations; Employees. (a) Except as set forth on Section 4.14(a) of the Company Disclosure Letter, (i) neither the Company nor any of its Subsidiaries is a party to or bound by any collective bargaining agreement, or any similar agreement, (ii) no such agreement is being negotiated by the Company or any of the Company’s Subsidiaries, and (iii) no labor union or any other employee representative body has requested or, to the knowledge of the Company, has sought to represent any of the employees of the Company or its Subsidiaries. To the knowledge of the Company, there has been no labor organization activity involving any employees of the Company or any of its Subsidiaries. In the past three (3) years, there has been no actual or, to the knowledge of the Company, threatened strike, slowdown, work stoppage, lockout or other material labor dispute against or affecting the Company or any Subsidiary of the Company. (b) Each of the Company and its Subsidiaries are, and have been for the past three (3) years, in compliance with all applicable Laws respecting labor and employment including, but not limited to, all Laws respecting terms and conditions of employment, health and safety, wages and hours, holiday pay and the calculation of holiday pay, working time, employee classification (with respect to both exempt vs. non-exempt status and employee vs. independent contractor and worker status), child labor, immigration, employment discrimination, disability rights or benefits, equal opportunity and equal pay, plant closures and layoffs, affirmative action, workers’ compensation, labor relations, employee leave issues and unemployment insurance, except where the failure to comply would not reasonably be expected to be, individually or in the aggregate, material to the business of the Company and its Subsidiaries. (c) In the past three (3) years, the Company and its Subsidiaries have not received (i) notice of any unfair labor practice charge or material complaint pending or threatened before the National Labor Relations Board or any other Governmental Authority against them, (ii) notice of any complaints, grievances or arbitrations arising out of any collective bargaining agreement or any other complaints, grievances or arbitration procedures against them, (iii) notice of any material charge or complaint with respect to or relating to them pending before the Equal Employment Opportunity Commission or any other Governmental Authority responsible for the prevention of unlawful employment practices, (iv) notice of the intent of any Governmental Authority responsible for the enforcement of labor, employment, wages and hours of work, child labor, immigration, or occupational safety and health Laws to conduct an investigation with respect to or relating to them or notice that such investigation is in progress, or (v) notice of any complaint, lawsuit or other proceeding pending or threatened in any forum by or on behalf of any present or former employee of such entities, any applicant for employment or classes of the foregoing alleging breach of any express or implied Contract of employment, any applicable Law governing employment or the termination thereof or other discriminatory, wrongful or tortious conduct in connection with the employment relationship."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3231, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f959d50fed76ac8f2558e63b99ca03287cb21bd5b6ea62f4de7134472f0b1c88", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 45564, "char_start": 42333, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p49", "passage_kind": "narrative", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 44; Value: 33 (d) To the knowledge of the Company, no present or former employee, worker or independent contractor of the Company or any of the Company’s Subsidiaries’ is in material violation of (i) any restrictive covenant, nondisclosure obligation or fiduciary duty to the Company or any of the Company’s Subsidiaries or (ii) any restrictive covenant or nondisclosure obligation to a former employer or engager of any such individual relating to (A) the right of any such individual to work for or provide services to the Company or any of the Company’s Subsidiaries’ or (B) the knowledge or use of trade secrets or proprietary information. (e) Neither the Company nor any of the Company’s Subsidiaries is party to a settlement agreement with a current or former officer, employee or independent contractor of the Company or any of the Company’s Subsidiaries that involves allegations relating to sexual harassment, sexual misconduct or discrimination by either (i) an officer of the Company or any of the Company’s Subsidiaries or (ii) an employee of the Company or any of the Company’s Subsidiaries at the level of Vice President or above. To the knowledge of the Company, in the last five (5) years, no allegations of sexual harassment, sexual misconduct or discrimination have been made against (i) an officer of the Company or any of the Company’s Subsidiaries or (ii) an employee of the Company or any of the Company’s Subsidiaries at the level of Vice President or above. (f) In the past three (3) years, the Company and its Subsidiaries have not engaged in layoffs, furloughs or employment terminations sufficient to trigger application of the Workers’ Adjustment and Retraining Notification Act or any similar state or local law relating to group terminations. The Company and its Subsidiaries have not engaged in layoffs, furloughs, employment terminations (other than for cause) or effected any broad-based salary or other compensation or benefits reductions, in each case, whether temporary or permanent, since January 1, 2020 through the date hereof. The Company, taken as a whole with its Subsidiaries, has sufficient employees to operate the business of the Company and its Subsidiaries as currently conducted. Section 4.15. Taxes. (a) All material Tax Returns required to be filed by or with respect to the Company or any of its Subsidiaries have been timely filed (taking into account any applicable extensions), all such Tax Returns (taking into account all amendments thereto) are true, complete and accurate in all material respects and all material Taxes due and payable (whether or not shown on any Tax Return) have been paid, other than Taxes being contested in good faith and for which adequate reserves have been established in accordance with GAAP. (b) The Company and each of its Subsidiaries have withheld from amounts owing to any employee, creditor or other Person all material Taxes required by Law to be withheld, paid over to the proper Governmental Authority in a timely manner all such withheld amounts required to have been so paid over and complied in all material respects with all applicable withholding and related reporting requirements with respect to such Taxes."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 2822, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5115d1396a1788b3b9fb37946b99480fa488a4619dc473e22c4ed4f761ef7a51", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 48386, "char_start": 45564, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 45; Value: 33 (c) There are no Liens for Taxes (other than Permitted Liens) upon the property or assets of the Company or any of its Subsidiaries. (d) No claim, assessment, deficiency or proposed adjustment for any material amount of Tax has been asserted or assessed by any Governmental Authority against the Company or any of its Subsidiaries that remains unresolved or unpaid except for claims, assessments, deficiencies or proposed adjustments being contested in good faith and for which adequate reserves have been established in accordance with GAAP. (e) There are no material Tax audit or other examination of the Company or any of its Subsidiaries presently in progress, and there are no waivers, extensions or requests for any waivers or extensions of any statute of limitations currently in effect with respect to any material Taxes of the Company or any of its Subsidiaries. (f) Neither the Company nor any of its Subsidiaries has made a request for an advance tax ruling, request for technical advice, a request for a change of any method of accounting or any similar request that is in progress or pending with any Governmental Authority with respect to any Taxes that would reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole. (g) Neither the Company nor any of its Subsidiaries is a party to any Tax indemnification or Tax sharing or similar agreement (other than any such agreement solely between the Company and its existing Subsidiaries and customary commercial Contracts (or Contracts entered into in the ordinary course of business) not primarily related to Taxes). (h) Neither the Company nor any of its Subsidiaries has been a party to any transaction treated by the parties as a distribution of stock qualifying for Tax-free treatment under Section 355 of the Code in the two (2) years prior to the date of this Agreement. (i) Neither the Company nor any of its Subsidiaries (i) is liable for Taxes of any other Person (other than the Company and its Subsidiaries) under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign Tax Law or as a transferee or successor or by Contract (other than customary commercial Contracts (or Contracts entered into in the ordinary course of business) not primarily related to Taxes) or (ii) has ever been a member of an affiliated, consolidated, combined or unitary group filing for U.S. federal, state or local income Tax purposes, other than a group the common parent of which was or is the Company or any of its Subsidiaries. (j) No written claim has been made by any Governmental Authority within the last thirty-six (36) months where the Company or any of its Subsidiaries does not file Tax Returns that it is or may be subject to taxation in that jurisdiction."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3764, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c6a6b12ac22281c3de87d111d3f138e91b8fadedacdd10ead1239461eda59a9a", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 52150, "char_start": 48386, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 46; Value: 33 (k) Neither the Company nor any of its Subsidiaries has, or has ever had, a permanent establishment in any country other than the country of its organization, or is, or has ever been, subject to income Tax in a jurisdiction outside the country of its organization. (l) Neither the Company nor any of its Subsidiaries has participated in a “listed transaction” within the meaning of Treasury Regulation 1.6011-4(b)(2). (m) Neither the Company nor any of its Subsidiaries will be required to include any material amount in taxable income, exclude any material item of deduction or loss from taxable income, or make any adjustment under Section 481 of the Code (or any similar provision of state, local or foreign Law) for any taxable period (or portion thereof) ending after the Closing Date as a result of any (i) installment sale, excess loss account or deferred intercompany transaction described in the Treasury Regulations under Section 1502 of the Code (or any similar provision of state, local or foreign Law) or open transaction disposition made prior to the Closing outside the ordinary course of business, (ii) prepaid amount received or deferred revenue recognized prior to the Closing outside the ordinary course of business, (iii) change in method of accounting for a taxable period ending on or prior to the Closing Date, (iv) “closing agreements” described in Section 7121 of the Code (or any similar provision of state, local or foreign Law) executed prior to the Closing, or (v) by reason of Section 965(a) of the Code or election pursuant to Section 965(h) of the Code (or any similar provision of state, local or foreign Law), and to the knowledge of the Company, the IRS has not proposed any such adjustment or change in accounting method. (n) The Company has not been, is not, and immediately prior to the Effective Time will not be, treated as an “investment company” within the meaning of Section 368(a)(2)(F) of the Code. (o) The Company has not taken any action, nor to the knowledge of the Company or any of its Subsidiaries are there any facts or circumstances, that could reasonably be expected to prevent the Merger from qualifying as a “reorganization” within the meaning of Section 368(a) of the Code and the Treasury Regulations. Section 4.16. Brokers’ Fees. Except as set forth on Section 4.16 of the Company Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated hereby based upon arrangements made by the Company, any of the Company’s Subsidiaries’ or any of their Affiliates for which Acquiror, the Company or any of the Company’s Subsidiaries has any obligation. Section 4.17. Insurance. Section 4.17 of the Company Disclosure Letter contains a list of, as of the date hereof, all material policies or binders of property, fire and casualty, product liability, workers’ compensation, and other forms of insurance held by, or for the benefit of, the Company or any of the Company’s Subsidiaries as of the date of this Agreement. True, correct and complete copies of such insurance policies as in effect as of the date hereof have previously been made available to Acquiror. All such policies are in full force and effect, all premiums due have been paid, and no notice of cancellation or termination has been received by the Company or any of the Company’s Subsidiaries with respect to any such policy. Except as disclosed on Section 4.17 of the Company Disclosure Letter, no insurer has denied or disputed coverage of any material claim under an insurance policy during the last twelve (12) months. Field: Page; Sequence: 47; Value: 33 Section 4.18. Licenses."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3568, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d800c769c70f650e30e3c59c72211161f199c428559605794c9f7580268308bd", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 55718, "char_start": 52150, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "The Company and its Subsidiaries have obtained, and maintain, all of the material Licenses reasonably required to permit the Company and its Subsidiaries to acquire, originate, own, operate, use and maintain their assets in the manner in which they are now operated and maintained and to conduct the business of the Company and its Subsidiaries as currently conducted. Each material License held by the Company or any of the Company’s Subsidiaries is in full force and effect. Neither the Company nor any of its Subsidiaries (a) is in default or violation (and no event has occurred which, with notice or the lapse of time or both, would constitute a material default or violation) in any material respect of any term, condition or provision of any material License to which it is a party, (b) is or has been the subject of any pending or threatened Action by a Governmental Authority seeking the revocation, suspension, termination, modification, or impairment of any material License; or (c) has received any notice that any Governmental Authority that has issued any material License intends to cancel, terminate, or not renew any such material License, except to the extent such material License may be amended, replaced, or reissued as a result of and as necessary to reflect the transactions contemplated hereby, or as otherwise disclosed in Section 4.4 of the Company Disclosure Letter, provided such amendment, replacement, or reissuance does not materially adversely affect the continuous conduct of the business of the Company and its Subsidiaries as currently conducted from and after Closing. Section 4.18 of the Company Disclosure Letter sets forth a true, correct and complete list of material Licenses held by the Company or its Subsidiaries. Section 4.19. Equipment and Other Tangible Property. The Company or one of its Subsidiaries owns and has good title to, and has the legal and beneficial ownership of or a valid leasehold interest in or right to use by license or otherwise, all material machinery, equipment and other tangible property reflected on the books of the Company and its Subsidiaries as owned by the Company or one of its Subsidiaries, free and clear of all Liens other than Permitted Liens. All material personal property and leased personal property assets of the Company and its Subsidiaries are structurally sound and in good operating condition and repair (ordinary wear and tear expected) and are suitable for their present use. Section 4.20. Real Property. (a) Section 4.20(a) of the Company Disclosure Letter sets forth a true, correct and complete list as of the date of this Agreement of all Leased Real Property and all Real Property Leases (as hereinafter defined) pertaining to such Leased Real Property. With respect to each parcel of Leased Real Property: (i) The Company or one of its Subsidiaries holds a good and valid leasehold estate in such Leased Real Property, free and clear of all Liens, except for Permitted Liens. (ii) The Company and its Subsidiaries have delivered to Acquiror true, correct and complete copies of all leases, lease guaranties, subleases, agreements for the leasing, use or occupancy of, or otherwise granting a right in and to the Leased Real Property by or to the Company and its Subsidiaries, including all amendments, terminations and modifications thereof (collectively, the “Real Property Leases”), and none of such Real Property Leases have been modified in any material respect, except to the extent that such modifications have been disclosed by the copies delivered to Acquiror."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3801, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "636131caa9c1760a7bac9d636366e4cde9acb4023b8a8a508ff09a22ce31fe76", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 59519, "char_start": 55718, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 48; Value: 33 (iii) The Company and its Subsidiaries’, as applicable, possession and quiet enjoyment of the Leased Real Property under such Real Property Leases has not been materially disturbed and, to the knowledge of the Company, there are no material disputes with respect to such Real Property Leases. (iv) As of the date of this Agreement, no party, other than the Company or its Subsidiaries, has any right to use or occupy the Leased Real Property or any portion thereof. (v) Neither the Company nor any of its Subsidiaries have received written notice of any current condemnation proceeding or proposed similar Action or agreement for taking in lieu of condemnation with respect to any portion of the Leased Real Property. (b) The Company and its Subsidiaries have good and marketable fee simple title to the Owned Residential Properties as reflected in the balance sheet contained in the most recent Financial Statements (except for such Owned Residential Properties sold since the date of such Financial Statements in the ordinary course). All Owned Residential Properties are free and clear of all Liens (except for Permitted Liens). (i) Except as would not be material to the Company and its Subsidiaries, taken as a whole, to the knowledge of the Company, each Owned Residential Property is a single parcel of real property with a detached single-family residence erected thereon, or a two-to-four family dwelling, or an individual condominium unit in a low-rise or high-rise condominium project, or an individual townhome, or an individual unit in a planned unit development or a de minimis planned unit development located in the District of Columbia or in a state of the United States of America. (ii) Neither the Company nor any of its Subsidiaries have received any written notice of any: (i) material violations of building codes and/or zoning ordinances or other Laws affecting the Owned Residential Properties; (ii) existing, pending or threatened in writing condemnation proceedings affecting the Owned Residential Properties; or (iii) existing, pending or threatened in writing zoning, building code or other moratorium proceedings, or similar matters which, in each case, would reasonably be expected to materially and adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries. (iii) To the knowledge of the Company, neither the Company nor any of its Subsidiaries have received written notice of any material default under any restrictive covenants affecting any of the Owned Residential Properties, except for such defaults as would not be expected to materially or adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries, taken as a whole. Field: Page; Sequence: 49; Value: 33 (iv) Except for Permitted Liens, there are no leases, subleases, licenses or other similar occupancy agreements pursuant to which the Company or any of its Subsidiaries have granted to any party or parties the right of use or occupancy of any portion of the Owned Residential Properties and there is no Person (other than the Companies or its Subsidiaries) in possession of such Owned Residential Properties. (c) None of the Company or any of its Subsidiaries owns any Owned Real Property. Section 4.21. Intellectual Property. (a) Section 4.21(a) of the Company Disclosure Letter lists each item of Intellectual Property that is registered and applied-for with a Governmental Authority and is owned by the Company or any of the Company’s Subsidiaries as of the date of this Agreement, whether applied for or registered in the United States or internationally as of the date of this Agreement (“Company Registered Intellectual Property”)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3206, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2de17f0b455d2e8cfb60f8eb90aa2e2a6f9526116d661d927207d6fab106b807", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 62725, "char_start": 59519, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "The Company or one of the Company’s Subsidiaries is the sole and exclusive beneficial and record owner of all of the items of Company Registered Intellectual Property, and, to the knowledge of the Company, all such Company Registered Intellectual Property is subsisting and, (excluding any pending applications included in the Company Registered Intellectual Property) is valid and enforceable. (b) Except as would not be expected to be material to the Company and its Subsidiaries, taken as a whole, the Company or one of its Subsidiaries owns, free and clear of all Liens (other than Permitted Liens), or has a valid right to use, all Intellectual Property reasonably necessary for the continued conduct of the business of the Company and its Subsidiaries in substantially the same manner as such business has been operated during the twelve (12) months prior to the date hereof, provided that the foregoing shall not be deemed a representation or warranty regarding non-infringement, validity or enforceability of Intellectual Property. (c) The Company and its Subsidiaries (other than any Company Subsidiary or business unit, as applicable, that was acquired within the eighteen (18) month period prior to the date of this Agreement) have not, within the three (3) years preceding the date of this Agreement, infringed upon, misappropriated or otherwise violated and, as of the date of this Agreement, are not infringing upon, misappropriating or otherwise violating any Intellectual Property of any third Person. As of the date of this Agreement, there is no action pending to which the Company or such Subsidiary of the Company is a named party, or to the knowledge of the Company, that is threatened in writing, alleging the Company’s or such Subsidiaries’ infringement, misappropriation or other violation of any Intellectual Property of any third Person and there has not been, within the twelve (12) months preceding the date of this Agreement, any such action brought or threatened in writing. (d) Except as set forth on Section 4.21(d) of the Company Disclosure Letter, to the knowledge of the Company as of the date of this Agreement (i) no Person is infringing upon, misappropriating or otherwise violating any material Intellectual Property of the Company or any of the Company’s Subsidiaries in any material respect, and (ii) the Company and its Subsidiaries have not sent to any Person within the three (3) years preceding the date of this Agreement (or, in the case of any Company Subsidiary or business unit, as applicable, that was acquired within the eighteen (18) period prior to the date of this Agreement, within the twelve (12) months preceding the date of this Agreement) any written notice, charge, complaint, claim or other written assertion against such third Person claiming infringement or violation by or misappropriation of any Intellectual Property of the Company or any of the Company’s Subsidiaries. Field: Page; Sequence: 50; Value: 33 (e) The Company and its Subsidiaries take commercially reasonable measures to protect the confidentiality of trade secrets included in their Intellectual Property that are material to the business of the Company and its Subsidiaries."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3652, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d30b0c3f6f7d7b6d5c51e99331825031254079c49af5e0db0673f12739845684", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 66377, "char_start": 62725, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p55", "passage_kind": "narrative", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "To the knowledge of the Company, there has not been any material unauthorized disclosure of or unauthorized access to any trade secrets of the Company or any of the Company’s Subsidiaries to or by any Person in a manner that has resulted or may result in the misappropriation of, or loss of trade secret or other rights in and to such information. (f) No government funding, nor any facilities of a university, college, other educational institution or research center, was used in the development of the Intellectual Property owned by the Company or any of the Company’s Subsidiaries and used in connection with the business. (g) With respect to the software used or held for use in the business of the Company and its Subsidiaries, to the knowledge of the Company, no such software contains any undisclosed or hidden device or feature designed to disrupt, disable, or otherwise impair the functioning of any software or any “back door,” “time bomb”, “Trojan horse,” “worm,” “drop dead device,” or other malicious code or routines that permit unauthorized access or the unauthorized disablement or erasure of such or other software or information or data (or any parts thereof) of the Company or its Subsidiaries or customers of the Company and its Subsidiaries. (h) The Company’s and its Subsidiaries’ use and distribution of (i) software developed by the Company or any Subsidiary, and (ii) Open Source Materials, is in material compliance with all Open Source Licenses applicable thereto. None of the Company or any Subsidiary of the Company has used any Open Source Materials in a manner that requires any software or Intellectual Property owned by the Company or any of the Company’s Subsidiaries, to be subject to Copyleft Licenses. Section 4.22. Privacy and Cybersecurity. (a) The Company and its Subsidiaries maintain and are in compliance with, and during the three (3) years preceding the date of this Agreement have maintained and been in compliance with, (i) all applicable Laws relating to the privacy and/or security of personal information, (ii) the Company’s and its Subsidiaries’ posted or publicly facing privacy policies, and (iii) the Company’s and its Subsidiaries’ contractual obligations concerning cybersecurity, data security and the security of the Company’s and each of its Subsidiaries’ information technology systems, in each case of (i)-(iii) above, other than any non-compliance that, individually or in the aggregate, has not been and would not reasonably be expected to be material to the Company and its Subsidiaries. There are no Actions by any Person (including any Governmental Authority) pending to which the Company or any of the Company’s Subsidiaries is a named party or, to the knowledge of the Company, threatened in writing against the Company or its Subsidiaries alleging a violation of any third Person’s privacy or personal information rights. Field: Page; Sequence: 51; Value: 33 (b) During the three (3) years preceding the date of this Agreement (i) there have been, no material breaches of the security of the information technology systems of the Company and its Subsidiaries, and (ii) there have been no disruptions in any information technology systems that materially adversely affected the Company’s and its Subsidiaries’ business or operations. The Company and its Subsidiaries take commercially reasonable and legally compliant measures designed to protect confidential, sensitive or personally identifiable information in its possession or control against unauthorized access, use, modification, disclosure or other misuse, including through administrative, technical and physical safeguards."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3967, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5e54fa1ee23d9cddb4312ae459451cb05cb6913d56b78606b4df3a3011524188", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 70344, "char_start": 66377, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p56", "passage_kind": "narrative", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "To the knowledge of the Company, neither the Company nor any Subsidiary of the Company has (A) experienced any incident in which such information was stolen or improperly accessed, including in connection with a breach of security, or (B) received any written notice or complaint from any Person with respect to any of the foregoing, nor has any such notice or complaint been threatened in writing against the Company or any of the Company’s Subsidiaries. Section 4.23. Environmental Matters. (a) The Company and its Subsidiaries are and, except for matters which have been fully resolved, have been in material compliance with all Environmental Laws. (b) There has been no material release of any Hazardous Materials by the Company or its Subsidiaries (i) at, in, on or under any Owned Residential Properties or Leased Real Property or in connection with the Company’s and its Subsidiaries’ operations off-site of the Owned Residential Properties or the Leased Real Property or (ii) to the knowledge of the Company, at, in, on or under any formerly owned or Leased Real Property during the time that the Company owned or leased such property or at any other location where Hazardous Materials generated by the Company or any of the Company’s Subsidiaries have been transported to, sent, placed or disposed of. (c) Neither the Company nor its Subsidiaries are subject to any current Governmental Order relating to any material non-compliance with Environmental Laws by the Company or its Subsidiaries or the investigation, sampling, monitoring, treatment, remediation, removal or cleanup of Hazardous Materials. (d) No material Legal Proceeding is pending or, to the knowledge of the Company, threatened with respect to the Company’s and its Subsidiaries’ compliance with or liability under Environmental Laws, and, to the knowledge of the Company, there are no facts or circumstances which could reasonably be expected to form the basis of such a Legal Proceeding. (e) The Company has made available to Acquiror all material environmental reports, assessments, audits and inspections and any material communications or notices from or to any Governmental Authority concerning any material non-compliance of the Company or any of the Company’s Subsidiaries with, or liability of the Company or any of the Company’s Subsidiaries under, Environmental Law. Section 4.24. Absence of Changes. From the date of the most recent balance sheet included in the Financial Statements to the date of this Agreement, there has not been any Company Material Adverse Effect. Field: Page; Sequence: 52; Value: 33 Section 4.25. Anti-Corruption Compliance. (a) For the past three (3) years, neither the Company nor any of its Subsidiaries, nor, to the knowledge of the Company, any director, officer, employee or agent acting on behalf of the Company or any of the Company’s Subsidiaries, has offered or given anything of value to: (i) any official or employee of a Governmental Authority, any political party or official thereof, or any candidate for political office or (ii) any other Person, in any such case while knowing that all or a portion of such money or thing of value will be offered, given or promised, directly or indirectly, to any official or employee of a Governmental Authority or candidate for political office, in each case in violation of the Anti-Bribery Laws. (b) Each of the Company and its Subsidiaries, has instituted and maintains policies and procedures reasonably designed to ensure compliance in all material respects with the Anti-Bribery Laws. (c) To the knowledge of the Company, as of the date hereof, there are no current or pending internal investigations, third party investigations (including by any Governmental Authority), or internal or external audits that address any material allegations or information concerning possible material violations of the Anti-Bribery Laws related to the Company or any of the Company’s Subsidiaries. Section 4.26."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3874, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a811cf057878e2da8d67c28e2e0126531ab0ad6d618deae58baef8ff534c191b", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 74218, "char_start": 70344, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p57", "passage_kind": "narrative", "passage_sequence": 57, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Sanctions and International Trade Compliance. (a) The Company and its Subsidiaries (i) are, and have been for the past five (5) years, in compliance in all material respects with all International Trade Laws and Sanctions Laws, and (ii) have obtained all required licenses, consents, notices, waivers, approvals, orders, registrations, declarations, or other authorizations from, and have made any material filings with, any applicable Governmental Authority for the import, export, re-export, deemed export, deemed re-export, or transfer required under the International Trade Laws and Sanctions Laws (the “Export Approvals”). There are no pending or, to the knowledge of the Company, threatened, claims, complaints, charges, investigations, voluntary disclosures or Legal Proceedings against the Company or any of the Company’s Subsidiaries related to any International Trade Laws or Sanctions Laws or any Export Approvals. (b) Neither the Company nor any of its Subsidiaries nor any of their respective directors or officers, or to the knowledge of the Company, employees or any of the Company’s or its Subsidiaries’ respective agents, representatives or other Persons acting on behalf of the Company or any of the Company’s Subsidiaries, (i) is, or has during the past five (5) years, been a Sanctioned Person or (ii) has transacted business directly or knowingly indirectly with any Sanctioned Person or in any Sanctioned Country in violation of Sanctions Laws. Section 4.27. Information Supplied. None of the information supplied or to be supplied by the Company or any of the Company’s Subsidiaries specifically in writing for inclusion in the Registration Statement will, at the date on which the Proxy Statement/Registration Statement is first mailed to the Acquiror Shareholders or at the time of the Acquiror Shareholders’ Meeting, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading. Field: Page; Sequence: 53; Value: 33 Section 4.28. Vendors. (a) Section 4.28(a) of the Company Disclosure Letter sets forth, as of the date of this Agreement, the top twenty (20) vendors based on the aggregate Dollar value of the Company’s and its Subsidiaries’ transaction volume with such counterparty during the trailing twelve months for the period ending December 31, 2019 (the “Top Vendors”). (b) Except as set forth on Section 4.28(b) of the Company Disclosure Letter, none of the Top Vendors has, as of the date of this Agreement, informed in writing any of the Company or any of the Company’s Subsidiaries that it will, or, to the knowledge of the Company, has threatened to, terminate, cancel, or materially limit or materially and adversely modify any of its existing business with the Company or any of the Company’s Subsidiaries (other than due to the expiration of an existing contractual arrangement), and to the knowledge of the Company, none of the Top Vendors is, as of the date of this Agreement, otherwise involved in or threatening a material dispute against the Company or its Subsidiaries or their respective businesses. Section 4.29. Government Contracts. The Company is not party to: (i) any Contract, including an individual task order, delivery order, purchase order, basic ordering agreement, letter Contract or blanket purchase agreement between the Company or any of its Subsidiaries, on one hand, and any Governmental Authority, on the other hand, or (ii) any subcontract or other Contract by which the Company or one of its Subsidiaries has agreed to provide goods or services through a prime contractor directly to a Governmental Authority that is expressly identified in such subcontract or other Contract as the ultimate consumer of such goods or services."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b111"], "char_count": 3246, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "03d154055ac8cf878a43042865994801ca008e1b6db927129dbe76aca3e20c7d", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 111, "char_end": 77464, "char_start": 74218, "fragment_sha256": "7b7dd39fbf1873467012e3288b0ff563c78965ab882b77fa7ec4f62a82a82f74", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p58", "passage_kind": "narrative", "passage_sequence": 58, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "None of the Company or any of its Subsidiaries have provided any offer, bid, quotation or proposal to sell products made or services provided by the Company or any of its Subsidiaries that, if accepted or awarded, would lead to any Contract or subcontract of the type described by the foregoing sentence. Section 4.30. Sufficiency of Assets. Except as would not be expected to be material to the Company and its Subsidiaries, taken as a whole, the tangible and intangible assets owned, licensed or leased by the Company and its Subsidiaries constitute all of the assets reasonably necessary for the continued conduct of the business of the Company and its Subsidiaries after the Closing in the ordinary course. Notwithstanding the foregoing, this Section 4.30 shall not be deemed a representation or warranty regarding non-infringement, validity or enforceability of Intellectual Property. Section 4.31. Mortgage Loans. (a) Each Mortgage Loan constitutes a legal, valid and binding obligation of the respective borrower(s) or obligor(s), enforceable, to the knowledge of Company, by the holder thereof in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity. Each Mortgage Loan is evidenced by legal, valid and binding instruments executed by the respective borrower(s) or obligor(s). Field: Page; Sequence: 54; Value: 33 Field: Split-Segment; Name: 5 (b) The Company or a Subsidiary of the Company owns each Mortgage Loan free and clear of any Liens (except for Permitted Liens). (c) No consent of the respective borrower(s) or obligor(s) is required in connection with Acquiror’s or Merger Sub’s execution or delivery of this Agreement or the consummation of the transactions contemplated hereby. (d) Each Mortgage Loan was originated by the Company or a Subsidiary of the Company: (i) in the ordinary course of business and consistent with the Company’s policies and procedures for Mortgage Loan origination and servicing in place at the time such Mortgage Loan was made in all material respects and (ii) in accordance with applicable Law, in all material respects. Each Mortgage Loan is secured by a valid, perfected and enforceable Lien on the secured property described in the applicable mortgage documents evidencing such Mortgage Loan. (e) Each Mortgage Loan has been serviced and administered in all material respects in accordance with (i) applicable Law; (ii) the Company’s loan servicing and operating procedures as in effect from time to time; and (iii) the respective Contract governing each Mortgage Loan. Section 4.32. No Additional Representation or Warranties. Except as provided in and this Article IV, neither the Company nor any of its Affiliates, nor any of their respective directors, managers, officers, employees, equityholders, partners, members or representatives has made, or is making, any representation or warranty whatsoever to Acquiror or Merger Sub or their Affiliates and no such party shall be liable in respect of the accuracy or completeness of any information provided to Acquiror or Merger Sub or their Affiliates."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3451, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "32017bbcec699dfaeeb18caf3c806da6b13395b57aa4706fcc4bb73f01487845", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 3451, "char_start": 0, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p59", "passage_kind": "narrative", "passage_sequence": 59, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Except as set forth in (i) in the case of Acquiror, any Acquiror SEC Filings filed or submitted on or prior to the date hereof (excluding (a) any disclosures in any risk factors section that do not constitute statements of fact, disclosures in any forward-looking statements disclaimer and other disclosures that are generally cautionary, predictive or forward-looking in nature and (b) any exhibits or other documents appended thereto) (it being acknowledged that nothing disclosed in such Acquiror SEC Filings will be deemed to modify or qualify the representations and warranties set forth in Section 5.8, Section 5.12 and Section 5.15), or (ii) in the case of Acquiror and Merger Sub, in the disclosure letter delivered by Acquiror and Merger Sub to the Company (the “Acquiror Disclosure Letter”) on the date of this Agreement (each section of which, subject to Section 12.9, qualifies the correspondingly numbered and lettered representations in this Article V), Acquiror and Merger Sub represent and warrant to the Company as follows: Section 5.1. Company Organization. Each of Acquiror and Merger Sub has been duly incorporated, organized or formed and is validly existing as a corporation or exempted company in good standing (or equivalent status, to the extent that such concept exists) under the Laws of its jurisdiction of incorporation, organization or formation, and has the requisite company power and authority to own, lease or operate all of its properties and assets and to conduct its business as it is now being conducted. The copies of Acquiror’s Governing Documents and the Governing Documents of Merger Sub, in each case, as amended to the date of this Agreement, previously delivered by Acquiror to the Company, are true, correct and complete. Merger Sub has no assets or operations other than those required to effect the transactions contemplated hereby. All of the equity interests of Merger Sub are held directly by Acquiror. Each of Acquiror and Merger Sub is duly licensed or qualified and in good standing as a foreign corporation or company in all jurisdictions in which its ownership of property or the character of its activities is such as to require it to be so licensed or qualified, except where failure to be so licensed or qualified would not reasonably be expected to be, individually or in the aggregate, material to Acquiror. Field: Page; Sequence: 55; Options: NewSection; Value: 49 Section 5.2. Due Authorization. (a) Each of Acquiror and Merger Sub has all requisite corporate power and authority to (a) execute and deliver this Agreement and the documents contemplated hereby, and (b) consummate the transactions contemplated hereby and thereby and perform all obligations to be performed by it hereunder and thereunder. The execution and delivery of this Agreement and the documents contemplated hereby and the consummation of the transactions contemplated hereby and thereby have been (i) duly and validly authorized and approved by the Board of Directors of Acquiror and by Acquiror as the sole shareholder, as applicable, of Merger Sub and (ii) determined by the Board of Directors of Acquiror as advisable to Acquiror and the Acquiror Shareholders and recommended for approval by the Acquiror Shareholders. No other company proceeding on the part of Acquiror or Merger Sub is necessary to authorize this Agreement and the documents contemplated hereby (other than the Acquiror Shareholder Approval)."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3724, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ed2637331d1412ab1a803fb92683b239252df7fa29b0a32d161ec60b971addb7", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 7175, "char_start": 3451, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p60", "passage_kind": "narrative", "passage_sequence": 60, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "This Agreement has been, and at or prior to the Closing, the other documents contemplated hereby will be, duly and validly executed and delivered by each of Acquiror and Merger Sub, and this Agreement constitutes, and at or prior to the Closing, the other documents contemplated hereby will constitute, a legal, valid and binding obligation of each of Acquiror and Merger Sub, enforceable against Acquiror and Merger Sub in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity. (b) Assuming that a quorum (as determined pursuant to Acquiror’s Governing Documents) is present: (i) each of those Transaction Proposals identified in clauses (A), (B) and (C) of Section 8.2(b) shall require approval by an affirmative vote of the holders of at least two-thirds of the outstanding Acquiror Common Shares entitled to vote, who attend and vote thereupon (as determined in accordance with Acquiror’s Governing Documents) at a shareholders’ meeting duly called by the Board of Directors of Acquiror and held for such purpose; (ii) each of those Transaction Proposals identified in clauses (D), (E), (F), (G), (H), (I), (J), and (K) of Section 8.2(b), in each case, shall require approval by an affirmative vote of the holders of at least a majority of the outstanding Acquiror Common Shares entitled to vote thereupon (as determined in accordance with Acquiror’s Governing Documents) at a shareholders’ meeting duly called by the Board of Directors of Acquiror and held for such purpose; Field: Page; Sequence: 56; Value: 49 (c) The foregoing votes are the only votes of any of Acquiror’s share capital necessary in connection with entry into this Agreement by Acquiror and Merger Sub and the consummation of the transactions contemplated hereby, including the Closing. (d) At a meeting duly called and held, the Board of Directors of Acquiror has unanimously approved the transactions contemplated by this Agreement as a Business Combination. Section 5.3. No Conflict. Subject to the Acquiror Shareholder Approval, the execution and delivery of this Agreement by Acquiror and Merger Sub and the other documents contemplated hereby by Acquiror and Merger Sub and the consummation of the transactions contemplated hereby and thereby do not and will not (a) violate or conflict with any provision of, or result in the breach of or default under the Governing Documents of Acquiror or Merger Sub, (b) violate or conflict with any provision of, or result in the breach of, or default under any applicable Law or Governmental Order applicable to Acquiror or Merger Sub, (c) violate or conflict with any provision of, or result in the breach of, result in the loss of any right or benefit, or cause acceleration, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under any Contract to which Acquiror or Merger Sub is a party or by which Acquiror or Merger Sub may be bound, or terminate or result in the termination of any such Contract or (d) result in the creation of any Lien upon any of the properties or assets of Acquiror or Merger Sub, except, in the case of clauses (b) through (d), to the extent that the occurrence of the foregoing would not (i) have, or would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of Acquiror or Merger Sub to enter into and perform their obligations under this Agreement or (ii) be material to Acquiror. Section 5.4. Litigation and Proceedings."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3931, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "009499cd85df9cb3308073bc3f109d4edadcc78102ecc5cf728f566621e24cfa", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 11106, "char_start": 7175, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p61", "passage_kind": "narrative", "passage_sequence": 61, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "There are no pending or, to the knowledge of Acquiror, threatened Legal Proceedings against Acquiror or Merger Sub, their respective properties or assets, or, to the knowledge of Acquiror, any of their respective directors, managers, officers or employees (in their capacity as such). There are no investigations or other inquiries pending or, to the knowledge of Acquiror, threatened by any Governmental Authority, against Acquiror or Merger Sub, their respective properties or assets, or, to the knowledge of Acquiror, any of their respective directors, managers, officers or employees (in their capacity as such). There is no outstanding Governmental Order imposed upon Acquiror or Merger Sub, nor are any assets of Acquiror’s or Merger Sub’s respective businesses bound or subject to any Governmental Order the violation of which would, individually or in the aggregate, reasonably be expected to be material to Acquiror. As of the date hereof, each of Acquiror and Merger Sub is in compliance with all applicable Laws in all material respects. For the past three (3) years, Acquiror and Merger Sub have not received any written notice of or been charged with the violation of any Laws, except where such violation has not been, individually or in the aggregate, material to Acquiror. Field: Page; Sequence: 57; Value: 49 Section 5.5. SEC Filings. Acquiror has timely filed or furnished all statements, prospectuses, registration statements, forms, reports and documents required to be filed by it with the SEC since April 30, 2020, pursuant to the Exchange Act or the Securities Act (collectively, as they have been amended since the time of their filing through the date hereof, the “Acquiror SEC Filings”). Each of the Acquiror SEC Filings, as of the respective date of its filing, and as of the date of any amendment, complied in all material respects with the applicable requirements of the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and any rules and regulations promulgated thereunder applicable to the Acquiror SEC Filings. As of the respective date of its filing (or if amended or superseded by a filing prior to the date of this Agreement or the Closing Date, then on the date of such filing), the Acquiror SEC Filings did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading. As of the date hereof, there are no outstanding or unresolved comments in comment letters received from the SEC with respect to the Acquiror SEC Filings. To the knowledge of Acquiror, none of the Acquiror SEC Filings filed on or prior to the date hereof is subject to ongoing SEC review or investigation as of the date hereof. Section 5.6. Internal Controls; Listing; Financial Statements. (a) Except as not required in reliance on exemptions from various reporting requirements by virtue of Acquiror’s status as an “emerging growth company” within the meaning of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”), Acquiror has established and maintains disclosure controls and procedures (as defined in Rule 13a-15 under the Exchange Act). Such disclosure controls and procedures are designed to ensure that material information relating to Acquiror, including its consolidated Subsidiaries, if any, is made known to Acquiror’s principal executive officer and its principal financial officer by others within those entities, particularly during the periods in which the periodic reports required under the Exchange Act are being prepared. Such disclosure controls and procedures are effective in timely alerting Acquiror’s principal executive officer and principal financial officer to material information required to be included in Acquiror’s periodic reports required under the Exchange Act."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3376, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "819e462bc19eab57241d32291cb79b847cb71e2dd4c8473e0e64212acc4b6b90", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 14482, "char_start": 11106, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p62", "passage_kind": "narrative", "passage_sequence": 62, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Since April 30, 2020, Acquiror has established and maintained a system of internal controls over financial reporting (as defined in Rule 13a-15 under the Exchange Act) sufficient to provide reasonable assurance regarding the reliability of Acquiror’s financial reporting and the preparation of Acquiror Financial Statements for external purposes in accordance with GAAP. (b) Each director and executive officer of Acquiror has filed with the SEC on a timely basis all statements required by Section 16(a) of the Exchange Act and the rules and regulations promulgated thereunder. Acquiror has not taken any action prohibited by Section 402 of the Sarbanes-Oxley Act. (c) Since April 30, 2020, Acquiror has complied in all material respects with the applicable listing and corporate governance rules and regulations of the New York Stock Exchange (the “NYSE”). The Acquiror Class A Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is listed for trading on the NYSE. There is no Legal Proceeding pending or, to the knowledge of Acquiror, threatened against Acquiror by the NYSE or the SEC with respect to any intention by such entity to deregister the Acquiror Class A Common Stock or prohibit or terminate the listing of Acquiror Class A Common Stock on the NYSE. Field: Page; Sequence: 58; Value: 49 (d) The Acquiror SEC Filings contain true and complete copies of the audited balance sheet as of December 31, 2019, and statement of operations, cash flow and shareholders’ equity of Acquiror for the period from October 18, 2019 (inception) through December 31, 2019, together with the auditor’s reports thereon (the “Acquiror Financial Statements”). Except as disclosed in the Acquiror SEC Filings, the Acquiror Financial Statements (i) fairly present in all material respects the financial position of Acquiror, as at the respective dates thereof, and the results of operations and consolidated cash flows for the respective periods then ended, (ii) were prepared in conformity with GAAP applied on a consistent basis during the periods involved (except as may be indicated therein or in the notes thereto), and (iii) comply in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act in effect as of the respective dates thereof. The books and records of Acquiror have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements. (e) There are no outstanding loans or other extensions of credit made by Acquiror to any executive officer (as defined in Rule 3b-7 under the Exchange Act) or director of Acquiror. Acquiror has not taken any action prohibited by Section 402 of the Sarbanes-Oxley Act. (f) Neither Acquiror (including any employee thereof) nor Acquiror’s independent auditors has identified or been made aware of (i) any significant deficiency or material weakness in the system of internal accounting controls utilized by Acquiror, (ii) any fraud, whether or not material, that involves Acquiror’s management or other employees who have a role in the preparation of financial statements or the internal accounting controls utilized by Acquiror or (iii) any claim or allegation regarding any of the foregoing. Section 5.7. Governmental Authorities; Consents."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3842, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "16471e7b3a1f4e390df853f3b1afdd94f3527e18b11d120364e4d420d30bdf30", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 18324, "char_start": 14482, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p63", "passage_kind": "narrative", "passage_sequence": 63, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Assuming the truth and completeness of the representations and warranties of the Company contained in this Agreement, no consent, waiver, approval or authorization of, or designation, declaration or filing with, or notification to, any Governmental Authority or other Person is required on the part of Acquiror or Merger Sub with respect to Acquiror’s or Merger Sub’s execution or delivery of this Agreement or the consummation of the transactions contemplated hereby, except for (i) applicable requirements of the HSR Act, (ii) in connection with the Domestication, the applicable requirements and required approval of the Cayman Registrar, and (iii) as otherwise disclosed on Section 5.7 of the Acquiror Disclosure Letter. Section 5.8. Trust Account. As of the date of this Agreement, Acquiror has at least $414,000,000.00 in the Trust Account (including, if applicable, an aggregate of approximately $14,490,000.00 of deferred underwriting commissions and other fees being held in the Trust Account), such monies invested in United States government securities or money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act pursuant to the Investment Management Trust Agreement, dated as of April 27, 2020, between Acquiror and Continental Stock Transfer & Trust Company, as trustee (the “Trustee”) (the “Trust Agreement”). There are no separate Contracts, side letters or other arrangements or understandings (whether written or unwritten, express or implied) that would cause the description of the Trust Agreement in the Acquiror SEC Filings to be inaccurate or that would entitle any Person (other than shareholders of Acquiror holding Acquiror Common Shares sold in Acquiror’s initial public offering who shall have elected to redeem their shares of Acquiror Common Stock pursuant to Acquiror’s Governing Documents and the underwriters of Acquiror’s initial public offering with respect to deferred underwriting commissions) to any portion of the proceeds in the Trust Account. Prior to the Closing, none of the funds held in the Trust Account may be released other than to pay Taxes and payments with respect to all Acquiror Share Redemptions. There are no claims or proceedings pending or, to the knowledge of Acquiror, threatened with respect to the Trust Account. Acquiror has performed all material obligations required to be performed by it to date under, and is not in default, breach or delinquent in performance or any other respect (claimed or actual) in connection with, the Trust Agreement, and no event has occurred which, with due notice or lapse of time or both, would constitute such a default or breach thereunder. As of the Effective Time, the obligations of Acquiror to dissolve or liquidate pursuant to Acquiror’s Governing Documents shall terminate, and as of the Effective Time, Acquiror shall have no obligation whatsoever pursuant to Acquiror’s Governing Documents to dissolve and liquidate the assets of Acquiror by reason of the consummation of the transactions contemplated hereby. To Acquiror’s knowledge, as of the date hereof, following the Effective Time, no Acquiror Shareholder shall be entitled to receive any amount from the Trust Account except to the extent such Acquiror Shareholder is exercising an Acquiror Share Redemption. As of the date hereof, assuming the accuracy of the representations and warranties of the Company contained herein and the compliance by the Company with its obligations hereunder, neither Acquiror or Merger Sub have any reason to believe that any of the conditions to the use of funds in the Trust Account will not be satisfied or funds available in the Trust Account will not be available to Acquiror and Merger Sub on the Closing Date. Field: Page; Sequence: 59; Value: 49 Section 5.9. Investment Company Act; JOBS Act."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3793, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "287394da422b2a3e12d197921fbcc2179ab0fd6c2a9df791b53bb257837b130c", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 22117, "char_start": 18324, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p64", "passage_kind": "narrative", "passage_sequence": 64, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Acquiror is not an “investment company” or a Person directly or indirectly “controlled” by or acting on behalf of an “investment company”, in each case within the meaning of the Investment Company Act. Acquiror constitutes an “emerging growth company” within the meaning of the JOBS Act. Section 5.10. Absence of Changes. Since April 30, 2020, (a) there has not been any event or occurrence that has had, or would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of Acquiror or Merger Sub to enter into and perform their obligations under this Agreement and (b) except as set forth in Section 5.10 of the Acquiror Disclosure Letter, Acquiror and Merger Sub have, in all material respects, conducted their business and operated their properties in the ordinary course of business consistent with past practice. Section 5.11. No Undisclosed Liabilities. Except for any fees and expenses payable by Acquiror or Merger Sub as a result of or in connection with the consummation of the transactions contemplated hereby, there is no liability, debt or obligation of or claim or judgment against Acquiror or Merger Sub (whether direct or indirect, absolute or contingent, accrued or unaccrued, known or unknown, liquidated or unliquidated, or due or to become due), except for liabilities and obligations (i) reflected or reserved for on the financial statements or disclosed in the notes thereto included in Acquiror SEC Filings, (ii) that have arisen since the date of the most recent balance sheet included in the Acquiror SEC Filings in the ordinary course of business of Acquiror and Merger Sub, or (iii) which would not be, or would not reasonably be expected to be, material to Acquiror. Field: Page; Sequence: 60; Value: 49 Section 5.12. Capitalization of Acquiror. (a) As of the date of this Agreement, the authorized share capital of Acquiror is $55,500.00 divided into (i) 500,000,000 shares of Acquiror Class A Common Stock, 41,400,000 of which are issued and outstanding as of the date of this Agreement, (ii) 50,000,000 shares of Acquiror Class B Common Stock, of which 10,350,000 shares are issued and outstanding as of the date of this Agreement, and (iii) 5,000,000 preferred shares of par value $0.0001 each, of which no shares are issued and outstanding as of the date of this Agreement ((i), (ii) and (iii) collectively, the “Acquiror Securities”). The foregoing represents all of the issued and outstanding Acquiror Securities as of the date of this Agreement. All issued and outstanding Acquiror Securities (i) have been duly authorized and validly issued and are fully paid and non-assessable; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) Acquiror’s Governing Documents, and (2) any other applicable Contracts governing the issuance of such securities; and (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, Acquiror’s Governing Documents or any Contract to which Acquiror is a party or otherwise bound. (b) Subject to the terms of conditions of the Warrant Agreement, the Acquiror Warrants will be exercisable after giving effect to the Merger for one share of Acquiror Common Stock at an exercise price of eleven Dollars fifty cents ($11.50) per share. As of the date of this Agreement, 10,689,119 Acquiror Common Warrants and 6,133,333 Acquiror Private Placement Warrants are issued and outstanding. The Acquiror Warrants are not exercisable until the later of (x) April 30, 2021 and (y) thirty (30) days after the Closing."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3833, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b10d84dbb1cb0bfcfe8f0bbc79b1729e0f26c1229c6e418f0626dd2dec2c500d", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 25950, "char_start": 22117, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p65", "passage_kind": "narrative", "passage_sequence": 65, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "All outstanding Acquiror Warrants (i) have been duly authorized and validly issued and constitute valid and binding obligations of Acquiror, enforceable against Acquiror in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity; (ii) have been offered, sold and issued in compliance with applicable Law, including federal and state securities Laws, and all requirements set forth in (1) Acquiror’s Governing Documents and (2) any other applicable Contracts governing the issuance of such securities; and (iii) are not subject to, nor have they been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of any applicable Law, Acquiror’s Governing Documents or any Contract to which Acquiror is a party or otherwise bound. Except for the Subscription Agreements, Acquiror’s Governing Documents and this Agreement, there are no outstanding Contracts of Acquiror to repurchase, redeem or otherwise acquire any Acquiror Securities. (c) Except as set forth in this Section 5.12 or as contemplated by this Agreement or the other documents contemplated hereby, and other than in connection with the PIPE Investment, Acquiror has not granted any outstanding options, stock appreciation rights, warrants, rights or other securities convertible into or exchangeable or exercisable for Acquiror Securities, or any other commitments or agreements providing for the issuance of additional shares, the sale of treasury shares, for the repurchase or redemption of any Acquiror Securities or the value of which is determined by reference to the Acquiror Securities, and there are no Contracts of any kind which may obligate Acquiror to issue, purchase, redeem or otherwise acquire any of its Acquiror Securities. Field: Page; Sequence: 61; Value: 49 (d) The Aggregate Merger Consideration and the Acquiror Common Shares, when issued in accordance with the terms hereof, shall be duly authorized and validly issued, fully paid and non-assessable and issued in compliance with all applicable state and federal securities Laws and not subject to, and not issued in violation of, any Lien, purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of applicable Law, Acquiror’s Governing Documents, or any Contract to which Acquiror is a party or otherwise bound. (e) On or prior to the date of this Agreement, Acquiror has entered into Subscription Agreements with PIPE Investors, true and correct copies of which have been provided to the Company on or prior to the date of this Agreement, pursuant to which, and on the terms and subject to the conditions of which, such PIPE Investors have agreed, in connection with the transactions contemplated hereby, to purchase from Acquiror, shares of Domesticated Acquiror Common Stock for a PIPE Investment Amount of at least $400,000,000 (such amount, the “Minimum PIPE Investment Amount”), (i) at least $100,000,000 of which is in respect of such shares to be so purchased by one or more SCH PIPE Investors, and (ii) up to $100,000,000 of which shall be in respect of such shares to be so purchased by one or more Company PIPE Investors. On or prior to the date of this Agreement, Acquiror has identified to the Company each of the PIPE Investors that are not also existing stockholders of the Company (or has caused the identification of each such PIPE Investor to the Company) and, to the knowledge of Acquiror, the Company has not exercised its right to reasonably object to any such PIPE Investor as of the date of this Agreement."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 1547, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ad834d8345af73ac0b2b3d4944b97db1a5add84c24dbb101f6332fb855acb491", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 27497, "char_start": 25950, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p66", "passage_kind": "narrative", "passage_sequence": 66, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Such Subscription Agreements are in full force and effect with respect to, and binding on, Acquiror and, to the knowledge of Acquiror, on each PIPE Investor party thereto, in accordance with their terms. (f) Acquiror has no Subsidiaries apart from Merger Sub, and does not own, directly or indirectly, any equity interests or other interests or investments (whether equity or debt) in any Person, whether incorporated or unincorporated. Acquiror is not party to any Contract that obligates Acquiror to invest money in, loan money to or make any capital contribution to any other Person. Section 5.13. Brokers’ Fees. Except fees described on Section 5.13 of the Acquiror Disclosure Letter, no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated hereby based upon arrangements made by Acquiror or any of its Affiliates. Section 5.14. Indebtedness. Neither Acquiror nor Merger Sub have any Indebtedness. Section 5.15. Taxes. (a) All material Tax Returns required to be filed by or with respect to Acquiror or Merger Sub have been timely filed (taking into account any applicable extensions), all such Tax Returns (taking into account all amendments thereto) are true, complete and accurate in all material respects and all material Taxes due and payable (whether or not shown on any Tax Return) have been paid, other than Taxes being contested in good faith and for which adequate reserves have been established in accordance with GAAP."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3846, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bd9c2a60d5934deb5b633422a7d596105ba5ff8a359c3271accf61e2bd985b5c", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 31343, "char_start": 27497, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p67", "passage_kind": "narrative", "passage_sequence": 67, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 62; Value: 49 (b) The Acquiror and its Subsidiaries have withheld from amounts owing to any employee, creditor or other Person all material Taxes required by Law to be withheld, paid over to the proper Governmental Authority in a timely manner all such withheld amounts required to have been so paid over and otherwise complied in all material respects with all applicable withholding and related reporting requirements. (c) There are no Liens for any material Taxes (other than Permitted Liens) upon the property or assets of Acquiror or Merger Sub. (d) No claim, assessment, deficiency or proposed adjustment for any material amount of Tax has been asserted or assessed by any Governmental Authority against Acquiror or Merger Sub that remains unpaid except for claims, assessments, deficiencies or proposed adjustments being contested in good faith and for which adequate reserves have been established in accordance with GAAP. (e) There are no ongoing or pending Legal Proceedings with respect to any material Taxes of Acquiror or Merger Sub and there are no waivers, extensions or requests for any waivers or extensions of any statute of limitations currently in effect with respect to any material Taxes of Acquiror or Merger Sub. (f) No written claim has been made by any Governmental Authority where the Acquiror or Merger Sub does not file Tax Returns that it is or may be subject to taxation in that jurisdiction. (g) Neither the Acquiror nor Merger Sub is a party to any Tax indemnification or Tax sharing or similar agreement (other than any such agreement solely between the Acquiror and/or Merger Sub and customary commercial contracts not primarily related to Taxes that were entered into with persons who are not Affiliates or equity owners of Acquiror). (h) Neither the Acquiror nor Merger Sub has been a party to any transaction treated by the parties as a distribution of stock qualifying for tax-free treatment under Section 355 of the Code in the two years prior to the date of this Agreement. (i) Neither the Acquiror nor Merger Sub is liable for Taxes of any other Person (other than the Acquiror or Merger Sub) under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign Tax Law or as a transferee or successor or by contract (other than customary commercial contracts (or Contracts entered into in the ordinary course of business) not primarily related to Taxes). (j) Neither Acquiror nor Merger Sub has participated in a “listed transaction” within the meaning of Treasury Regulation 1.6011-4(b)(2). (k) Neither the Acquiror nor Merger Sub will be required to include any material amount in taxable income, exclude any material item of deduction or loss from taxable income, or make any adjustment under Section 481 of the Code (or any similar provision of state, local or foreign Law) for any taxable period (or portion thereof) ending after the Closing Date as a result of any (i) installment sale, intercompany transaction described in the Treasury Regulations under Section 1502 of the Code (or any similar provision of state, local or foreign Law) or open transaction disposition made on or prior to the Closing Date, (ii) prepaid amount received or deferred revenue recognized prior to the Closing outside the ordinary course of business, (iii) change in method of accounting for a taxable period ending on or prior to the Closing Date, (iv) “closing agreement” as described in Section 7121 of the Code (or any similar provision of state, local or foreign Law) executed prior to the Closing, (v) by reason of Section 965(a) of the Code or election pursuant to Section 965(h) of the Code (or any similar provision of state, local or foreign Law), and to the knowledge of Acquiror, the IRS has not proposed any such adjustment or change in accounting method."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3890, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "79441f583016e0332c934f1a26d44f65fa05eae08076a35aaaa6081189af5979", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 35233, "char_start": 31343, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p68", "passage_kind": "narrative", "passage_sequence": 68, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 63; Value: 49 (l) Acquiror and Merger Sub have not taken any action, nor to the knowledge of Acquiror are there any facts or circumstances, that would reasonably be expected to prevent the Merger from qualifying as a “reorganization” within the meaning of Section 368(a) of the Code and the Treasury Regulations. Section 5.16. Business Activities. (a) Since formation, neither Acquiror or Merger Sub have conducted any business activities other than activities related to Acquiror’s initial public offering or directed toward the accomplishment of a Business Combination. Except as set forth in Acquiror’s Governing Documents or as otherwise contemplated by this Agreement or the Ancillary Agreements and the transactions contemplated hereby and thereby, there is no agreement, commitment, or Governmental Order binding upon Acquiror or Merger Sub or to which Acquiror or Merger Sub is a party which has or would reasonably be expected to have the effect of prohibiting or impairing any business practice of Acquiror or Merger Sub or any acquisition of property by Acquiror or Merger Sub or the conduct of business by Acquiror or Merger Sub as currently conducted or as contemplated to be conducted as of the Closing, other than such effects, individually or in the aggregate, which have not been and would not reasonably be expected to be material to Acquiror or Merger Sub. (b) Except for Merger Sub and the transactions contemplated by this Agreement and the Ancillary Agreements, Acquiror does not own or have a right to acquire, directly or indirectly, any interest or investment (whether equity or debt) in any corporation, partnership, joint venture, business, trust or other entity. Except for this Agreement and the Ancillary Agreements and the transactions contemplated hereby and thereby, Acquiror has no material interests, rights, obligations or liabilities with respect to, and is not party to, bound by or has its assets or property subject to, in each case whether directly or indirectly, any Contract or transaction which is, or would reasonably be interpreted as constituting, a Business Combination. Except for the transactions contemplated by this Agreement and the Ancillary Agreements, Merger Sub does not own or have a right to acquire, directly or indirectly, any interest or investment (whether equity or debt) in any corporation, partnership, joint venture, business, trust or other entity. (c) Merger Sub was formed solely for the purpose of effecting the transactions contemplated by this Agreement and has not engaged in any business activities or conducted any operations other than in connection with the transactions contemplated hereby and has no, and at all times prior to the Effective Time, except as expressly contemplated by this Agreement, the Ancillary Agreements and the other documents and transactions contemplated hereby and thereby, will have no, assets, liabilities or obligations of any kind or nature whatsoever other than those incident to its formation. Field: Page; Sequence: 64; Value: 49 (d) As of the date hereof and except for this Agreement, the Ancillary Agreements and the other documents and transactions contemplated hereby and thereby (including with respect to expenses and fees incurred in connection therewith), neither Acquiror nor Merger Sub are party to any Contract with any other Person that would require payments by Acquiror or any of its Subsidiaries after the date hereof in excess of $1,000,000 in the aggregate with respect to any individual Contract, other than Working Capital Loans. As of the date hereof, there are no amounts outstanding under any Working Capital Loans. Section 5.17. Stock Market Quotation. As of the date hereof, the Acquiror Class A Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is listed for trading on the NYSE under the symbol “IPOB”."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 3954, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0de5fb9311c5667af120d828b36dc2c896bf440212d6072df91e77ac1de8729f", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 39187, "char_start": 35233, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p69", "passage_kind": "narrative", "passage_sequence": 69, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "As of the date hereof, the Acquiror Common Warrants are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the NYSE under the symbol “IPOB WS”. As of the Closing, after giving effect to the Domestication and the other transactions contemplated by this Agreement (and by the other agreements contemplated hereby) to occur prior to the Closing, the Domesticated Acquiror Common Stock and the Acquiror Common Warrants will be registered pursuant to Section 12(b) of the Exchange Act and listed for trading on the NYSE or Nasdaq. Acquiror is in compliance with the rules of the NYSE or Nasdaq, as applicable, and there is no Action or proceeding pending or, to the knowledge of Acquiror, threatened against Acquiror by the NYSE, Nasdaq or the SEC with respect to any intention by such entity to deregister the Acquiror Class A Common Stock or Acquiror Warrants or terminate the listing of Acquiror Class A Common Stock or Acquiror Warrants on the NYSE or Nasdaq, as applicable. None of Acquiror, Merger Sub or their respective Affiliates has taken any action in an attempt to terminate the registration of the Acquiror Class A Common Stock or Acquiror Warrants under the Exchange Act except as contemplated by this Agreement. Section 5.18. Registration Statement, Proxy Statement and Proxy Statement/Registration Statement. On the effective date of the Registration Statement, the Registration Statement, and when first filed in accordance with Rule 424(b) and/or filed pursuant to Section 14A, the Proxy Statement and the Proxy Statement/Registration Statement (or any amendment or supplement thereto), shall comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act. On the effective date of the Registration Statement, the Registration Statement will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein not misleading. On the date of any filing pursuant to Rule 424(b) and/or Section 14A, the date the Proxy Statement/Registration Statement and the Proxy Statement, as applicable, is first mailed to the Acquiror Shareholders and certain of the Company’s stockholders, as applicable, and at the time of the Acquiror Shareholders’ Meeting, the Proxy Statement/Registration Statement and the Proxy Statement, as applicable (together with any amendments or supplements thereto) will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that Acquiror makes no representations or warranties as to the information contained in or omitted from the Registration Statement, Proxy Statement or the Proxy Statement/Registration Statement in reliance upon and in conformity with information furnished in writing to Acquiror by or on behalf of the Company specifically for inclusion in the Registration Statement, Proxy Statement or the Proxy Statement/Registration Statement. Field: Page; Sequence: 65; Value: 49 Section 5.19. No Outside Reliance. Notwithstanding anything contained in this Article V or any other provision hereof, each of Acquiror and Merger Sub, and any of their respective directors, managers, officers, employees, equityholders, partners, members or representatives, acknowledge and agree that Acquiror has made its own investigation of the Company and that neither the Company nor any of its Affiliates, agents or representatives is making any representation or warranty whatsoever, express or implied, beyond those expressly given by the Company in Article IV, including any implied warranty or representation as to condition, merchantability, suitability or fitness for a particular purpose or trade as to any of the assets of the Company or its Subsidiaries."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b158"], "char_count": 2701, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "545c74060aa3c634fed14c49df79f1f617104a93c4a63c7c998d7bdbcf1636e6", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 158, "char_end": 41888, "char_start": 39187, "fragment_sha256": "b5ea2dffa9937c9cd8661254027f2b44d000ab06f4037d411d9742cfcce8f4b3", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND MERGER SUB"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p70", "passage_kind": "narrative", "passage_sequence": 70, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Without limiting the generality of the foregoing, it is understood that any cost estimates, financial or other projections or other predictions that may be contained or referred to in the Company Disclosure Letter or elsewhere, as well as any information, documents or other materials (including any such materials contained in any “data room” (whether or not accessed by Acquiror or its representatives) or reviewed by Acquiror pursuant to the Confidentiality Agreement) or management presentations that have been or shall hereafter be provided to Acquiror or any of its Affiliates, agents or representatives are not and will not be deemed to be representations or warranties of the Company, and no representation or warranty is made as to the accuracy or completeness of any of the foregoing except as may be expressly set forth in Article IV of this Agreement. Except as otherwise expressly set forth in this Agreement, Acquiror understands and agrees that any assets, properties and business of the Company and its Subsidiaries are furnished “as is”, “where is” and subject to and except as otherwise provided in the representations and warranties contained in Article IV, with all faults and without any other representation or warranty of any nature whatsoever. Section 5.20. No Additional Representation or Warranties. Except as provided in this Article V, neither Acquiror nor Merger Sub nor any their respective Affiliates, nor any of their respective directors, managers, officers, employees, stockholders, partners, members or representatives has made, or is making, any representation or warranty whatsoever to the Company or its Affiliates and no such party shall be liable in respect of the accuracy or completeness of any information provided to the Company or its Affiliates. Without limiting the foregoing, the Company acknowledges that the Company and its advisors, have made their own investigation of Acquiror, Merger Sub and their respective Subsidiaries and, except as provided in this Article V, are not relying on any representation or warranty whatsoever as to the condition, merchantability, suitability or fitness for a particular purpose or trade as to any of the assets of Acquiror, Merger Sub or any of their respective Subsidiaries, the prospects (financial or otherwise) or the viability or likelihood of success of the business of Acquiror, Merger Sub and their respective Subsidiaries as conducted after the Closing, as contained in any materials provided by Acquiror, Merger Sub or any of their Affiliates or any of their respective directors, officers, employees, shareholders, partners, members or representatives or otherwise. Field: Page; Sequence: 66; Value: 49"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b185"], "char_count": 597, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0c8c5ef421f3a5d680db7debb20dd8d59b0eb4031ebbfdd90d5fbd7265f1e039", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 185, "char_end": 597, "char_start": 0, "fragment_sha256": "2bb028450a9c7627a387e0c2a8045c82c43db5972ad8bac1fcf33245a8d68c3b", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p71", "passage_kind": "narrative", "passage_sequence": 71, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s33", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 6.1. Conduct of Business. From the date of this Agreement through the earlier of the Closing or valid termination of this Agreement pursuant to Article X (the “Interim Period”), the Company shall, and shall cause its Subsidiaries to, except as otherwise explicitly contemplated by this Agreement or the Ancillary Agreements or required by Law or as consented to by Acquiror in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied), use reasonable best efforts to operate the business of the Company in the ordinary course consistent with past practice."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b185"], "char_count": 10486, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e3c7597da53f1d67dce94386fff5598d7f740c055420d4a3650d2c44caf6e7ae", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 185, "char_end": 11083, "char_start": 597, "fragment_sha256": "2bb028450a9c7627a387e0c2a8045c82c43db5972ad8bac1fcf33245a8d68c3b", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p72", "passage_kind": "narrative", "passage_sequence": 72, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s33", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Without limiting the generality of the foregoing, except as set forth on Section 6.1 of the Company Disclosure Letter or as consented to by Acquiror in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied) the Company shall not, and the Company shall cause its Subsidiaries not to, except as otherwise contemplated by this Agreement (including the Pre-Closing Restructuring Plan) or the Ancillary Agreements or required by Law: (a) change or amend the Governing Documents of the Company or any of the Company’s Subsidiaries or form or cause to be formed any new Subsidiary of the Company; (b) make or declare any dividend or distribution to the stockholders of the Company or make any other distributions in respect of any of the Company Capital Stock or equity interests; (c) split, combine, reclassify, recapitalize or otherwise amend any terms of any shares or series of the Company’s or any of its Subsidiaries’ capital stock or equity interests, except for any such transaction by a wholly owned Subsidiary of the Company that remains a wholly owned Subsidiary of the Company after consummation of such transaction; (d) purchase, repurchase, redeem or otherwise acquire any issued and outstanding share capital, outstanding shares of capital stock, membership interests or other equity interests of the Company or its Subsidiaries, except for (i) the acquisition by the Company or any of its Subsidiaries of any shares of capital stock, membership interests or other equity interests (other than Company Awards) of the Company or its Subsidiaries in connection with the forfeiture or cancellation of such interests and (ii) transactions between the Company and any wholly owned Subsidiary of the Company or between wholly owned Subsidiaries of the Company; (e) enter into, modify in any material respect or terminate (other than expiration in accordance with its terms) any Contract of a type required to be listed on Section 4.12(a) of the Company Disclosure Letter, or any Real Property Lease, in each case, other than in the ordinary course of business consistent with past practice or as required by Law; (f) sell, assign, transfer, convey, lease or otherwise dispose of any material tangible assets or properties of the Company or its Subsidiaries, except for (i) sale of Owned Residential Properties to customers in the ordinary course of business consistent with past practice, (ii) dispositions of obsolete or worthless equipment (iii) transactions among the Company and its wholly owned Subsidiaries or among its wholly owned Subsidiaries and (iv) transactions in the ordinary course of business consistent with past practice; Field: Page; Sequence: 67; Value: 49 (g) acquire any ownership interest in any real property (other than the acquisition of the Owned Residential Properties in the ordinary course of business consistent with past practice); (h) except as otherwise required by Law, existing Company Benefit Plans or the Contracts listed on Section 4.12 of the Company Disclosure Letter, (i) grant any severance, retention, change in control or termination or similar pay, except in connection with the promotion, hiring or termination of employment of any employee of the Company or its Subsidiaries (other than the Persons set forth in Section 6.1(h)(i) of the Company Disclosure Letter (the “Excluded Employees”)) in the ordinary course of business consistent with past practice, (ii) make any change in the key management structure of the Company or any of the Company’s Subsidiaries with respect to any Excluded Employee, including the hiring of additional officers or the termination of existing officers, other than terminations for cause or due to death or disability, (iii) terminate, adopt, enter into or materially amend any Company Benefit Plan, (iv) increase the cash compensation or bonus opportunity of any employee, officer, director or other individual service provider, except in the ordinary course of business consistent with past practice, (v) establish any trust or take any other action to secure the payment of any compensation payable by the Company or any of the Company’s Subsidiaries or (vi) take any action to amend or waive any performance or vesting criteria or to accelerate the time of payment or vesting of any compensation or benefit payable by the Company or any of the Company’s Subsidiaries, except in the ordinary course of business consistent with past practice; (i) acquire by merger or consolidation with, or merge or consolidate with, or purchase substantially all or a material portion of the assets of, any corporation, partnership, association, joint venture or other business organization or division thereof; (j) (i) issue or sell any debt securities or warrants or other rights to acquire any debt securities of the Company or any Subsidiary of the Company or otherwise incur or assume any Indebtedness, or (ii) guarantee any Indebtedness of another Person, except (x) under the Inventory Financing Documents or (y) in the ordinary course of business consistent with past practice; (k) (i) make or change any material election in respect of material Taxes, (ii) materially amend, modify or otherwise change any filed material Tax Return, (iii) adopt or request permission of any taxing authority to change any accounting method in respect of material Taxes, (iv) enter into any closing agreement in respect of material Taxes executed on or prior to the Closing Date or enter into any Tax sharing or similar agreement, (v) settle any claim or assessment in respect of material Taxes, (vi) surrender or allow to expire any right to claim a refund of material Taxes or (vii) consent to any extension or waiver of the limitation period applicable to any claim or assessment in respect of material Taxes or in respect to any material Tax attribute that would give rise to any claim or assessment of Taxes; Field: Page; Sequence: 68; Value: 49 (l) take any action, or knowingly fail to take any action, where such action or failure to act could reasonably be expected to prevent the Merger from qualifying as a “reorganization” within the meaning of Section 368(a) of the Code and the Treasury Regulations; (m) issue any additional shares of Company Capital Stock or securities exercisable for or convertible into Company Capital Stock, other than the issuance of Company Common Stock upon the exercise or settlement of Company Options or Restricted Stock Unit Awards in the ordinary course of business under Company Incentive Plan and applicable award agreement, in each case, outstanding on the date of this Agreement in accordance with their terms as in effect as of the date of this Agreement, or grant any additional Company Awards or other equity or equity-based compensation; (n) adopt a plan of, or otherwise enter into or effect a, complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization of the Company or its Subsidiaries (other than the Merger); (o) waive, release, settle, compromise or otherwise resolve any inquiry, investigation, claim, Action, litigation or other Legal Proceedings, except in the ordinary course of business or where such waivers, releases, settlements or compromises involve only the payment of monetary damages in an amount less than $1,000,000 in the aggregate; (p) grant to, or agree to grant to, any Person rights to any Intellectual Property that is material to the Company and its Subsidiaries, or dispose of, abandon or permit to lapse any rights to any Intellectual Property that is material to the Company and its Subsidiaries except for the expiration of Company Registered Intellectual Property in accordance with the applicable statutory term (or in the case of domain names, applicable registration period) or in the reasonable exercise of the Company’s or any of its Subsidiaries’ business judgment as to the costs and benefits of maintaining the item; (q) disclose or agree to disclose to any Person (other than Acquiror or any of its representatives) any trade secret or any other material confidential or proprietary information, know-how or process of the Company or any of its Subsidiaries other than in the ordinary course of business consistent with past practice and pursuant to obligations to maintain the confidentiality thereof; (r) make or commit to make capital expenditures other than in an amount not in excess of the amount set forth on Section 6.1(r) of the Company Disclosure Letter, in the aggregate; (s) manage the Company’s and its Subsidiaries’ working capital (including paying amounts payable in a timely manner when due and payable) in a manner other than in the ordinary course of business consistent with past practice; (t) enter into or extend any collective bargaining agreement or similar labor agreement, other than as required by applicable Law, or recognize or certify any labor union, labor organization, or group of employees of the Company or its Subsidiaries as the bargaining representative for any employees of the Company or its Subsidiaries; Field: Page; Sequence: 69; Value: 49 Field: Split-Segment; Name: 6 (u) terminate without replacement or fail to use reasonable efforts to maintain any License material to the conduct of the business of the Company and its Subsidiaries, taken as a whole; (v) waive the restrictive covenant obligations of any current employee of the Company or any of the Company’s Subsidiaries; (w) (i) limit the right of the Company or any of the Company’s Subsidiaries to engage in any line of business or in any geographic area, to develop, market or sell products or services, or to compete with any Person or (ii) grant any exclusive or similar rights to any Person, in each case, except where such limitation or grant does not, and would not be reasonably likely to, individually or in the aggregate, materially and adversely affect, or materially disrupt, the ordinary course operation of the businesses of the Company and its Subsidiaries, taken as a whole; (x) terminate or amend in a manner materially detrimental to the Company or any of the Company’s Subsidiaries any Inventory Financing Documents; (y) terminate without replacement or amend in a manner materially detrimental to the Company and its Subsidiaries, taken as a whole, any insurance policy insuring the business of the Company or any of the Company’s Subsidiaries; or (z) enter into any agreement to do any action prohibited under this Section 6.1."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b185"], "char_count": 2973, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5296e3be920beeb34e46fe55f78a828cd2763f0e66b192c3e47f7058fc65ae51", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 185, "char_end": 14056, "char_start": 11083, "fragment_sha256": "2bb028450a9c7627a387e0c2a8045c82c43db5972ad8bac1fcf33245a8d68c3b", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p73", "passage_kind": "narrative", "passage_sequence": 73, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s33", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 6.2. Inspection. Subject to confidentiality obligations that may be applicable to information furnished to the Company or any of the Company’s Subsidiaries by third parties that may be in the Company’s or any of its Subsidiaries’ possession from time to time, and except for any information that is subject to attorney-client privilege (provided that, to the extent possible, the parties shall cooperate in good faith to permit disclosure of such information in a manner that preserves such privilege or compliance with such confidentiality obligation), and to the extent permitted by applicable Law, (a) the Company shall, and shall cause its Subsidiaries to, afford to Acquiror and its accountants, counsel and other representatives reasonable access during the Interim Period (including for the purpose of coordinating transition planning for employees), during normal business hours and with reasonable advance notice, in such manner as to not materially interfere with the ordinary course of business of the Company and its Subsidiaries, to all of their respective properties, books, Contracts, commitments, Tax Returns, records and appropriate officers and employees of the Company and its Subsidiaries, and shall furnish such representatives with all financial and operating data and other information concerning the affairs of the Company and its Subsidiaries as such representatives may reasonably request; provided, that such access shall not include any unreasonably invasive or intrusive investigations or other testing, sampling or analysis of any properties, facilities or equipment of the Company or its Subsidiaries without the prior written consent of the Company, and (b) the Company shall, and shall cause its Subsidiaries to, provide to Acquiror and, if applicable, its accountants, counsel or other representatives, (x) such information and such other materials and resources relating to any Legal Proceeding initiated, pending or threatened during the Interim Period, or to the compliance and risk management operations and activities of the Company and its Subsidiaries during the Interim Period, in each case, as Acquiror or such representative may reasonably request, (y) prompt written notice of any material status updates in connection with any such Legal Proceedings or otherwise relating to any compliance and risk management matters or decisions of the Company or its Subsidiaries, and (z) copies of any communications sent or received by the Company or its Subsidiaries in connection with such Legal Proceedings, matters and decisions (and, if any such communications occurred orally, the Company shall, and shall cause its Subsidiaries to, memorialize such communications in writing to Acquiror). All information obtained by Acquiror, Merger Sub or their respective representatives pursuant to this Section 6.2 shall be subject to the Confidentiality Agreement. Field: Page; Sequence: 70; Options: NewSection; Value: 64 Section 6.3."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b185"], "char_count": 3822, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fd1e41557e71991d8603b1bca70c93344a363437adb091aa9be2553b2c5ea481", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 185, "char_end": 17878, "char_start": 14056, "fragment_sha256": "2bb028450a9c7627a387e0c2a8045c82c43db5972ad8bac1fcf33245a8d68c3b", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p74", "passage_kind": "narrative", "passage_sequence": 74, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s33", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Preparation and Delivery of Additional Company Financial Statements. (a) The Company shall act in good faith to deliver to Acquiror, as soon as reasonably practicable following the date hereof, (i) audited consolidated balance sheets and statements of operations, comprehensive loss, stockholders’ equity and cash flows of the Company and its Subsidiaries as of and for the years ended December 31, 2019 and December 31, 2018, together with the auditor’s reports thereon, which comply in all material respects with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant (the “Updated Financial Statements”); provided, that upon delivery of such Updated Financial Statements, such financial statements shall be deemed “Audited Financial Statements” for the purposes of this Agreement and the representation and warranties set forth in Section 4.8 shall be deemed to apply to such Audited Financial Statements with the same force and effect as if made as of the date of this Agreement. (b) The Company shall act in good faith to deliver to Acquiror, as soon as reasonably practicable following the date hereof, the unaudited consolidated balance sheets and statements of operations, comprehensive loss, stockholders’ equity, and cash flows of the Company and its Subsidiaries as of and for the six-month period ending June 30, 2020 (the “1H Financial Statements”), which comply with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant; provided, that upon delivery of such 1H Financial Statements, the representations and warranties set forth in Section 4.8 shall be deemed to apply to the 1H Financial Statements with the same force and effect as if made as of the date of this Agreement. (c) If the Effective Time has not occurred prior to November 12, 2020, as soon as reasonably practicable following November 12, 2020, the Company shall deliver to Acquiror the unaudited condensed consolidated balance sheets and statements of operations and comprehensive loss, stockholders’ deficit, and cash flow of the Company and its Subsidiaries as of and for the three- and nine-month period ended September 30, 2020 (the “Q3 Financial Statements”), which comply with the applicable accounting requirements and with the rules and regulations of the SEC, the Exchange Act and the Securities Act applicable to a registrant; provided, that upon delivery of such Q3 Financial Statements, the representations and warranties set forth in Section 4.8 shall be deemed to apply to the Q3 Financial Statements in the same manner as the 1H Financial Statements, mutatis mutandis, with the same force and effect as if made as of the date of this Agreement. (d) If the Effective Time has not occurred prior to March 30, 2021, and this Agreement has not been earlier terminated pursuant to Sections 10.1(e) or 10.1(g) then as soon as reasonably practicable following March 30, 2021, the Company shall deliver to Acquiror the audited consolidated balance sheets and statements of operations and comprehensive loss, cash flow and change in stockholders’ equity of the Company and its Subsidiaries as of and for the years ended December 31, 2020, together with the auditor’s reports thereon (the “2020 Audited Financial Statements”); provided, that upon delivery of such 2020 Audited Financial Statements, the representation and warranties set forth in Section 4.8 shall be deemed to apply to the Audited Financial Statements in the same manner as the Audited Financial Statements, mutatis mutandis, with the same force and effect as if made as of the date of this Agreement. Field: Page; Sequence: 71; Value: 64 Section 6.4. Affiliate Agreements."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b185"], "char_count": 1928, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "67071f9fc7252ffd92c76ea7b22386641827041aef927a06d11135e39d813550", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 185, "char_end": 19806, "char_start": 17878, "fragment_sha256": "2bb028450a9c7627a387e0c2a8045c82c43db5972ad8bac1fcf33245a8d68c3b", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF THE COMPANY"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p75", "passage_kind": "narrative", "passage_sequence": 75, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s33", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "All Affiliate Agreements set forth on Section 6.4 of the Company Disclosure Letter shall be terminated or settled at or prior to the Closing without further liability to Acquiror, the Company or any of the Company’s Subsidiaries, in each case, except as otherwise set forth on Section 6.4 of the Company Disclosure Letter. Section 6.5. Pre-Closing Restructuring. Prior to the Closing, the Company shall take all such actions as are reasonably necessary so that the Pre-Closing Restructuring shall have been be consummated prior to the Closing in accordance with the terms and subject to the conditions set forth on Section 6.5 of the Company Disclosure Letter (the “Pre-Closing Restructuring Plan”). Section 6.6. Acquisition Proposals. From the date hereof until the Closing Date or, if earlier, the termination of this Agreement in accordance with Article X, the Company and its Subsidiaries shall not, and the Company shall instruct and use its reasonable best efforts to cause its representatives, not to (i) initiate any negotiations with any Person with respect to, or provide any non-public information or data concerning the Company or any of the Company’s Subsidiaries to any Person relating to, an Acquisition Proposal or afford to any Person access to the business, properties, assets or personnel of the Company or any of the Company’s Subsidiaries in connection with an Acquisition Proposal, (ii) enter into any acquisition agreement, merger agreement or similar definitive agreement, or any letter of intent, memorandum of understanding or agreement in principle, or any other agreement relating to an Acquisition Proposal, (iii) grant any waiver, amendment or release under any confidentiality agreement or the anti-takeover laws of any state, or (iv) otherwise knowingly facilitate any such inquiries, proposals, discussions, or negotiations or any effort or attempt by any Person to make an Acquisition Proposal."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 2540, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e3acfec2f2cead567c402d29003c27d4b6886786ee0a32218aa5aa565ef22a5f", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 2540, "char_start": 0, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p76", "passage_kind": "narrative", "passage_sequence": 76, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 7.1. Employee Matters. (a) Equity Plan. Prior to the Closing Date, Acquiror shall approve and adopt (x) an incentive equity plan in the form attached hereto as Exhibit D (with such changes as may be agreed in writing by Acquiror and the Company) (the “Incentive Equity Plan”), (y) the form Restricted Stock Unit Agreement attached hereto as Exhibit E, and (z) the form employee stock purchase plan attached hereto as Exhibit F (with such changes that may be agreed in writing by Acquiror and the Company) (the “ESPP”). Within two (2) Business Days following the expiration of the sixty (60) day period following the date Acquiror has filed current Form 10 information with the SEC reflecting its status as an entity that is not a shell company, Acquiror shall file an effective registration statement on Form S-8 (or other applicable form, including Form S-3) with respect to the Acquiror Common Stock issuable under the Incentive Equity Plan and/or the ESPP, and Acquiror shall use reasonable best efforts to maintain the effectiveness of such registration statement(s) (and maintain the current status of the prospectus or prospectuses contained therein) for so long as awards granted pursuant to the Incentive Equity Plan or acquired under the ESPP remain outstanding. Field: Page; Sequence: 72; Value: 64 (b) No Third-Party Beneficiaries. Notwithstanding anything herein to the contrary, each of the parties to this Agreement acknowledges and agrees that all provisions contained in this Section 7.1 are included for the sole benefit of Acquiror and the Company, and that nothing in this Agreement, whether express or implied, (i) shall be construed to establish, amend, or modify any employee benefit plan, program, agreement or arrangement, (ii) shall limit the right of Acquiror, the Company or their respective Affiliates to amend, terminate or otherwise modify any Company Benefit Plan or other employee benefit plan, agreement or other arrangement following the Closing Date, or (iii) shall confer upon any Person who is not a party to this Agreement (including any equityholder, any current or former director, manager, officer, employee or independent contractor of the Company, or any participant in any Company Benefit Plan or other employee benefit plan, agreement or other arrangement (or any dependent or beneficiary thereof)), any right to continued or resumed employment or recall, any right to compensation or benefits, or any third-party beneficiary or other right of any kind or nature whatsoever. Section 7.2."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 3539, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ea818d488400206e6674fb9e02de7859b936faba4a7d6879aac1e0ba706f7796", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 6079, "char_start": 2540, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p77", "passage_kind": "narrative", "passage_sequence": 77, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Trust Account Proceeds and Related Available Equity. (a) If (i) the amount of cash available in the Trust Account following the Acquiror Shareholder Meeting, after deducting the amount required to satisfy the Acquiror Share Redemption Amount (but prior to payment of (x) any deferred underwriting commissions being held in the Trust Account, and (y) any Transaction Expenses or transaction expenses of Acquiror (including transaction expenses incurred, accrued, paid or payable by Acquiror’s Affiliates on Acquiror’s behalf), as contemplated by Section 12.6), (the “Trust Amount”), plus (ii) the PIPE Investment Amount actually received by Acquiror prior to or substantially concurrently with the Closing (the sum of (i) and (ii), the “Available Acquiror Cash”), is equal to or greater than $550,000,000 (the “Minimum Available Acquiror Cash Amount”), then the condition set forth in Section 9.3(d) shall be satisfied; provided, that, in each case, the parties to this Agreement do not have any intention as of the Effective Time to use, or to cause to be used, any amount of such Available Acquiror Cash to effect any additional repurchase, redemption or other acquisition of outstanding shares of Acquiror Common Stock within the six (6)-month period after the Closing. (b) Upon satisfaction or waiver of the conditions set forth in Article IX and provision of notice thereof to the Trustee (which notice Acquiror shall provide to the Trustee in accordance with the terms of the Trust Agreement), (i) in accordance with and pursuant to the Trust Agreement, at the Closing, Acquiror (a) shall cause any documents, opinions and notices required to be delivered to the Trustee pursuant to the Trust Agreement to be so delivered and (b) shall use its reasonable best efforts to cause the Trustee to, and the Trustee shall thereupon be obligated to (1) pay as and when due all amounts payable to Acquiror Shareholders pursuant to the Acquiror Share Redemptions, and (2) pay all remaining amounts then available in the Trust Account to Acquiror for immediate use, subject to this Agreement and the Trust Agreement, and (ii) thereafter, the Trust Account shall terminate, except as otherwise provided therein. Field: Page; Sequence: 73; Value: 64 Section 7.3. Listing. From the date hereof through the Effective Time, Acquiror shall ensure Acquiror remains listed as a public company on the NYSE, and shall prepare and submit to NYSE a listing application, if required under NYSE rules, covering the shares of Acquiror Common Stock issuable in the Merger and the Domestication, and shall obtain approval for the listing of such shares of Acquiror Common Stock and the Company shall reasonably cooperate with Acquiror with respect to such listing. Notwithstanding the foregoing, unless the Company otherwise requests in writing, at least three (3) Business Days prior to the initial filing of the Proxy Statement/Registration Statement with the SEC pursuant to Section 8.2(a), Acquiror will delist the Acquiror Common Stock from the NYSE, effective as of no later than the Effective Time, and shall prepare and submit to Nasdaq Capital Market (“Nasdaq”) a listing application, in accordance with Nasdaq rules, covering the shares of Acquiror Common Stock issuable in the Merger and the Domestication, and shall obtain approval for the listing of the Acquiror Common Stock on Nasdaq from and after the Effective Time, and the Company shall reasonably cooperate with Acquiror with respect to such listing. Section 7.4. No Solicitation by Acquiror."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 1667, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "abbb19b27801373ce517e5848bc8f4f76fb88dc93edef5cc44053e35f2bec3f7", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 7746, "char_start": 6079, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p78", "passage_kind": "narrative", "passage_sequence": 78, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "From the date hereof until the Closing Date or, if earlier, the termination of this Agreement in accordance with Article X, Acquiror shall not, and shall cause its Subsidiaries not to, and Acquiror shall instruct its and their representatives, not to, (i) make any proposal or offer that constitutes a Business Combination Proposal, (ii) initiate any discussions or negotiations with any Person with respect to a Business Combination Proposal or (iii) enter into any acquisition agreement, business combination, merger agreement or similar definitive agreement, or any letter of intent, memorandum of understanding or agreement in principle, or any other agreement relating to a Business Combination Proposal, in each case, other than to or with the Company and its respective representatives. From and after the date hereof, Acquiror shall, and shall instruct its officers and directors to, and Acquiror shall instruct and cause its representatives, its Subsidiaries and their respective representatives to, immediately cease and terminate all discussions and negotiations with any Persons that may be ongoing with respect to a Business Combination Proposal (other than the Company and its representatives). Section 7.5. Acquiror Conduct of Business. (a) During the Interim Period, Acquiror shall, and shall cause Merger Sub to, except as contemplated by this Agreement (including as contemplated by the PIPE Investment), in connection with the Domestication or as consented to by the Company in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied), operate its business in the ordinary course and consistent with past practice."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 4942, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "188ba683bb535a9b548c88271c32ac079234821d649f53c50896bd165f896a1c", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 12688, "char_start": 7746, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p79", "passage_kind": "narrative", "passage_sequence": 79, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Without limiting the generality of the foregoing, except as consented to by the Company in writing (which consent shall not be unreasonably conditioned, withheld, delayed or denied), Acquiror shall not, and Acquiror shall cause Merger Sub not to, except as otherwise contemplated by this Agreement (including as contemplated by the PIPE Investment or in connection with the Domestication) or the Ancillary Agreements or as required by Law: (i) seek any approval from the Acquiror Shareholders, to change, modify or amend the Trust Agreement or the Governing Documents of Acquiror or Merger Sub, except as contemplated by the Transaction Proposals; Field: Page; Sequence: 74; Value: 64 (ii) (x) make or declare any dividend or distribution to the shareholders of Acquiror or make any other distributions in respect of any of Acquiror’s or Merger Sub Capital Stock, share capital or equity interests, (y) split, combine, reclassify or otherwise amend any terms of any shares or series of Acquiror’s or Merger Sub Capital Stock or equity interests, or (z) purchase, repurchase, redeem or otherwise acquire any issued and outstanding share capital, outstanding shares of capital stock, share capital or membership interests, warrants or other equity interests of Acquiror or Merger Sub, other than a redemption of shares of Acquiror Class A Common Stock made as part of the Acquiror Share Redemptions; (iii) make or change any material election in respect of material Taxes, (A) amend, modify or otherwise change any filed material Tax Return, (B) adopt or request permission of any taxing authority to change any accounting method in respect of material Taxes, (C) enter into any closing agreement in respect of material Taxes or enter into any Tax sharing or similar agreement, (D) settle any claim or assessment in respect of material Taxes, (E) surrender or allow to expire any right to claim a refund of material Taxes; or (F) consent to any extension or waiver of the limitation period applicable to any claim or assessment in respect of material Taxes or in respect to any material Tax attribute that would give rise to any claim or assessment of Taxes; (iv) take any action, or knowingly fail to take any action, where such action or failure to act could reasonably be expected to prevent the Merger from qualifying as a “reorganization” within the meaning of Section 368(a) of the Code and the Treasury Regulations; (v) other than as expressly required by the Sponsor Support Agreement, enter into, renew or amend in any material respect, any transaction or Contract with an Affiliate of Acquiror or Merger Sub (including, for the avoidance of doubt, (x) the Sponsor and (y) any Person in which the Sponsor has a direct or indirect legal, contractual or beneficial ownership interest of 5% or greater); (vi) incur or assume any Indebtedness or guarantee any Indebtedness of another Person, issue or sell any debt securities or warrants or other rights to acquire any debt securities of the Company or any of the Company’s Subsidiaries or guaranty any debt securities of another Person, other than any indebtedness for borrowed money or guarantee (x) incurred in the ordinary course of business consistent with past practice and in an aggregate amount not to exceed $100,000, (y) incurred between Acquiror and Merger Sub; (vii) incur, guarantee or otherwise become liable for (whether directly, contingently or otherwise) any Indebtedness or otherwise knowingly and purposefully incur, guarantee or otherwise become liable for (whether directly, contingently or otherwise) any other material liabilities, debts or obligations, other than fees and expenses for professional services incurred in support of the transactions contemplated by this Agreement and the Ancillary Agreements or in support of the ordinary course operations of Acquiror (which the parties agree shall include any Indebtedness in respect of any Working Capital Loan incurred in the ordinary course of business); Field: Page; Sequence: 75; Value: 64 (viii) (A) issue any Acquiror Securities or securities exercisable for or convertible into Acquiror Securities, other than the issuance of the Aggregate Merger Consideration, (B) grant any options, warrants or other equity-based awards with respect to Acquiror Securities not outstanding on the date hereof, or (C) amend, modify or waive any of the material terms or rights set forth in any Acquiror Warrant or the Warrant Agreement, including any amendment, modification or reduction of the warrant price set forth therein; or (ix) enter into any agreement to do any action prohibited under this Section 7.5. (b) During the Interim Period, Acquiror shall, and shall cause its Subsidiaries (including Merger Sub) to comply with, and continue performing under, as applicable, Acquiror’s Governing Documents, the Trust Agreement and all other agreements or Contracts to which Acquiror or its Subsidiaries may be a party."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 3199, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c6ffaedeb2e7ebc89f11567403a77e0b6f0aec7ae09a4ef2080ab2ea1ba39bbd", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 15887, "char_start": 12688, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p80", "passage_kind": "narrative", "passage_sequence": 80, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 7.6. Post-Closing Directors and Officers of Acquiror. Subject to the terms of the Acquiror’s Governing Documents, Acquiror shall take all such action within its power as may be necessary or appropriate such that immediately following the Effective Time: (a) the Board of Directors of Acquiror shall consist of up to seven (7) directors, which shall initially include: (i) one (1) director nominee to be mutually agreed by the parties; (ii) one (1) director nominee (the “SCH Representative”) to be designated by Acquiror pursuant to written notice to be delivered to the Company as soon as reasonably practicable following the date of this Agreement; and (iii) up to five (5) director nominees to be designated by the Company (including Eric Wu as the Chief Executive Officer of the Company) pursuant to written notice to Acquiror as soon as reasonably practicable following the date of this Agreement; (b) the Board of Directors of Acquiror shall have a majority of “independent” directors for the purposes of NYSE or Nasdaq, as applicable, each of whom shall serve in such capacity in accordance with the terms of the Acquiror’s Governing Documents following the Effective Time; and (c) the initial officers of Acquiror shall be as set forth on Section 2.6 of the Company Disclosure Letter, who shall serve in such capacity in accordance with the terms of Acquiror’s Governing Documents following the Effective Time. Section 7.7. Domestication. Subject to receipt of the Acquiror Shareholder Approval, prior to the Effective Time, Acquiror shall cause the Domestication to become effective, including by (a) filing with the Delaware Secretary of State a Certificate of Domestication with respect to the Domestication, in form and substance reasonably acceptable to Acquiror and the Company, together with the Certificate of Incorporation of Acquiror in the form attached as Exhibit A to this Agreement (with such changes as may be agreed in writing by Acquiror and the Company), in each case, in accordance with the provisions thereof and applicable Law, (b) completing and making and procuring all those filings required to be made with the Cayman Registrar in connection with the Domestication, and (c) obtaining a certificate of de-registration from the Cayman Registrar. In accordance with applicable Law, the Domestication shall provide that at the effective time of the Domestication, by virtue of the Domestication, and without any action on the part of any Acquiror Shareholder, (i) each then issued and outstanding share of Acquiror Class A Common Stock shall convert automatically, on a one-for-one basis, into a share of Domesticated Acquiror Common Stock; (ii) each then issued and outstanding share of Acquiror Class B Common Stock shall convert automatically, on a one-for-one basis, into a share of Domesticated Acquiror Common Stock; (iii) each then issued and outstanding Cayman Acquiror Warrant shall convert automatically into a Domesticated Acquiror Warrant, pursuant to the Warrant Agreement; and (iv) each then issued and outstanding Cayman Acquiror Unit shall convert automatically into a Domesticated Acquiror Unit. Field: Page; Sequence: 76; Value: 64 Section 7.8."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 3742, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "faabfc0130c54db8f9e594e084ca2e705b35d7d55301436b088ca82012c304f0", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 19629, "char_start": 15887, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p81", "passage_kind": "narrative", "passage_sequence": 81, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Indemnification and Insurance. (a) From and after the Effective Time, Acquiror agrees that it shall indemnify and hold harmless each present and former director and officer of the (x) Company and each of its Subsidiaries (in each case, solely to the extent acting in their capacity as such and to the extent such activities are related to the business of the Company being acquired under this Agreement) (the “Company Indemnified Parties”) and (y) Acquiror and each of its Subsidiaries (the “Acquiror Indemnified Parties” together with the Company Indemnified Parties, the “D&O Indemnified Parties”) against any costs or expenses (including reasonable attorneys’ fees), judgments, fines, losses, claims, damages or liabilities incurred in connection with any Legal Proceeding, whether civil, criminal, administrative or investigative, arising out of or pertaining to matters existing or occurring at or prior to the Effective Time, whether asserted or claimed prior to, at or after the Effective Time, to the fullest extent that the Company, Acquiror or their respective Subsidiaries, as the case may be, would have been permitted under applicable Law and its respective certificate of incorporation, certificate of formation, bylaws, limited liability company agreement or other organizational documents in effect on the date of this Agreement to indemnify such D&O Indemnified Parties (including the advancing of expenses as incurred to the fullest extent permitted under applicable Law). Without limiting the foregoing, Acquiror shall, and shall cause its Subsidiaries to (i) maintain for a period of not less than six (6) years from the Effective Time provisions in its Governing Documents concerning the indemnification and exoneration (including provisions relating to expense advancement) of Acquiror’s and its Subsidiaries’ former and current officers, directors, employees, and agents that are no less favorable to those Persons than the provisions of the Governing Documents of the Company, Acquiror or their respective Subsidiaries, as applicable, in each case, as of the date of this Agreement, and (ii) not amend, repeal or otherwise modify such provisions in any respect that would adversely affect the rights of those Persons thereunder, in each case, except as required by Law. Acquiror shall assume, and be liable for, each of the covenants in this Section 7.8. (b) For a period of six (6) years from the Effective Time, Acquiror shall maintain in effect directors’ and officers’ liability insurance covering those Persons who are currently covered by Acquiror’s, the Company’s or their respective Subsidiaries’ directors’ and officers’ liability insurance policies (true, correct and complete copies of which have been heretofore made available to Acquiror or its agents or representatives) on terms not less favorable than the terms of such current insurance coverage, except that in no event shall Acquiror be required to pay an annual premium for such insurance in excess of three hundred percent (300%) of the aggregate annual premium payable by Acquiror or the Company, as applicable, for such insurance policy for the year ended December 31, 2019; provided, however, that (i) Acquiror may cause coverage to be extended under the current directors’ and officers’ liability insurance by obtaining a six (6) year “tail” policy containing terms not materially less favorable than the terms of such current insurance coverage with respect to claims existing or occurring at or prior to the Effective Time and (ii) if any claim is asserted or made within such six (6) year period, any insurance required to be maintained under this Section 7.8 shall be continued in respect of such claim until the final disposition thereof."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 3908, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bb64c5df1d174096a8f022655069d942c1820d34e136aef862340d43280721cd", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 23537, "char_start": 19629, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p82", "passage_kind": "narrative", "passage_sequence": 82, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 77; Value: 64 (c) Notwithstanding anything contained in this Agreement to the contrary, this Section 7.8 shall survive the consummation of the Merger indefinitely and shall be binding, jointly and severally, on Acquiror and all successors and assigns of Acquiror. In the event that Acquiror or any of its successors or assigns consolidates with or merges into any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or transfers or conveys all or substantially all of its properties and assets to any Person, then, and in each such case, Acquiror shall ensure that proper provision shall be made so that the successors and assigns of Acquiror shall succeed to the obligations set forth in this Section 7.8. (d) On the Closing Date, Acquiror shall enter into customary indemnification agreements reasonably satisfactory to each of the Company and Acquiror with the post-Closing directors and officers of Acquiror, which indemnification agreements shall continue to be effective following the Closing. Section 7.9. Acquiror Public Filings. From the date hereof through the Effective Time, Acquiror will keep current and timely file all reports required to be filed or furnished with the SEC and otherwise comply in all material respects with its reporting obligations under applicable Laws. Section 7.10. PIPE Subscriptions. Unless otherwise approved in writing by the Company (which approval shall not be unreasonably withheld, conditioned or delayed), and except for any of the following actions that would not increase conditionality or impose any new obligation on the Company or Acquiror, reduce the Minimum PIPE Investment Amount or the subscription amount under any Subscription Agreement or reduce or impair the rights of Acquiror under any Subscription Agreement, Acquiror shall not permit any amendment or modification to be made to, any waiver (in whole or in part) of, or provide consent to modify (including consent to terminate), any provision or remedy under, or any replacements of, any of the Subscription Agreements, in each case, other than any assignment or transfer contemplated therein or expressly permitted thereby (without any further amendment, modification or waiver to such assignment or transfer provision); provided, that, in the case of any such assignment or transfer, the initial party to such Subscription Agreement remains bound by its obligations with respect thereto in the event that the transferee or assignee, as applicable, does not comply with its obligations to consummate the purchase of shares of Domesticated Acquiror Common Stock contemplated thereby. Subject to the immediately preceding sentence and in the event that all conditions in the Subscription Agreements have been satisfied, Acquiror shall use its reasonable best efforts to take, or to cause to be taken, all actions required, necessary or that it otherwise deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including using its reasonable best efforts to enforce its rights under the Subscription Agreements to cause the PIPE Investors to pay to (or as directed by) Acquiror the applicable purchase price under each PIPE Investor’s applicable Subscription Agreement in accordance with its terms. Field: Page; Sequence: 78; Value: 64 Section 7.11. Stockholder Litigation. In the event that any litigation related to this Agreement, any Ancillary Agreement or the transactions contemplated hereby or thereby is brought, or, to the knowledge of Acquiror, threatened in writing, against Acquiror or the Board of Directors of Acquiror by any of Acquiror’s stockholders prior to the Closing, Acquiror shall promptly notify the Company of any such litigation and keep the Company reasonably informed with respect to the status thereof."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b198"], "char_count": 413, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7d7afc5935a5dbf0a3b4e6d7cf47aae7a0c5893227c84af3a9dae5392429ec2a", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 198, "char_end": 23950, "char_start": 23537, "fragment_sha256": "b30cc02e76b99d1f1ea17de89b266155c7e9b2fa7407d33b78146d6860714f36", "heading_path": ["TABLE OF CONTENTS", "COVENANTS OF ACQUIROR"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p83", "passage_kind": "narrative", "passage_sequence": 83, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Acquiror shall provide the Company the opportunity to participate in (subject to a customary joint defense agreement), but not control, the defense of any such litigation, shall give due consideration to the Company’s advice with respect to such litigation and shall not settle any such litigation without prior written consent of the Company, such consent not to be unreasonably withheld, conditioned or delayed."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 3275, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "66e02d677e714874b192eac2de8b0d30cfad06d5e76bce401f89f7656c202a1d", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 3275, "char_start": 0, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p84", "passage_kind": "narrative", "passage_sequence": 84, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 8.1. HSR Act; Other Filings. (a) In connection with the transactions contemplated hereby, each of the Company and Acquiror shall (and, to the extent required, shall cause its Affiliates to) comply promptly but in no event later than ten (10) Business Days after the date hereof with the notification and reporting requirements of the HSR Act. Each of the Company and Acquiror shall substantially comply with any Antitrust Information or Document Requests. (b) Each of the Company and Acquiror shall (and, to the extent required, shall cause its Affiliates to) request early termination of any waiting period under the HSR Act and exercise its reasonable best efforts to (i) obtain termination or expiration of the waiting period under the HSR Act and (ii) prevent the entry, in any Legal Proceeding brought by an Antitrust Authority or any other Person, of any Governmental Order which would prohibit, make unlawful or delay the consummation of the transactions contemplated hereby. (c) Acquiror shall cooperate in good faith with Governmental Authorities and undertake promptly any and all action required to complete lawfully the transactions contemplated hereby as soon as practicable (but in any event prior to the Agreement End Date) and any and all action necessary or advisable to avoid, prevent, eliminate or remove the actual or threatened commencement of any proceeding in any forum by or on behalf of any Governmental Authority or the issuance of any Governmental Order that would delay, enjoin, prevent, restrain or otherwise prohibit the consummation of the Merger, including, with the Company’s prior written consent (which consent shall not be unreasonably withheld, conditioned, delayed or denied), (i) proffering and consenting and/or agreeing to a Governmental Order or other agreement providing for (A) the sale, licensing or other disposition, or the holding separate, of particular assets, categories of assets or lines of business of the Company or Acquiror or (B) the termination, amendment or assignment of existing relationships and contractual rights and obligations of the Company or Acquiror and (ii) promptly effecting the disposition, licensing or holding separate of assets or lines of business or the termination, amendment or assignment of existing relationships and contractual rights, in each case, at such time as may be necessary to permit the lawful consummation of the transactions contemplated hereby on or prior to the Agreement End Date. Field: Page; Sequence: 79; Value: 64 (d) With respect to each of the above filings, and any other requests, inquiries, Actions or other proceedings by or from Governmental Authorities, each of the Company and Acquiror shall (and, to the extent required, shall cause its controlled Affiliates to) (i) diligently and expeditiously defend and use reasonable best efforts to obtain any necessary clearance, approval, consent, or Governmental Authorization under Laws prescribed or enforceable by any Governmental Authority for the transactions contemplated by this Agreement and to resolve any objections as may be asserted by any Governmental Authority with respect to the transactions contemplated by this Agreement; and (ii) cooperate fully with each other in the defense of such matters."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 3949, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e0a7859871d2de784bbc66124f872b83c13bcedaf91d4cd059817f460e0f24a2", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 7224, "char_start": 3275, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p85", "passage_kind": "narrative", "passage_sequence": 85, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "To the extent not prohibited by Law, the Company shall promptly furnish to Acquiror, and Acquiror shall promptly furnish to the Company, copies of any notices or written communications received by such party or any of its Affiliates from any third party or any Governmental Authority with respect to the transactions contemplated hereby, and each party shall permit counsel to the other parties an opportunity to review in advance, and each party shall consider in good faith the views of such counsel in connection with, any proposed written communications by such party and/or its Affiliates to any Governmental Authority concerning the transactions contemplated hereby; provided, that none of the parties shall extend any waiting period or comparable period under the HSR Act or enter into any agreement with any Governmental Authority without the written consent of the other parties. To the extent not prohibited by Law, the Company agrees to provide Acquiror and its counsel, and Acquiror agrees to provide the Company and its counsel, the opportunity, on reasonable advance notice, to participate in any substantive meetings or discussions, either in person or by telephone, between such party and/or any of its Affiliates, agents or advisors, on the one hand, and any Governmental Authority, on the other hand, concerning or in connection with the transactions contemplated hereby. (e) Each of the Company, on the one hand, and Acquiror, on the other, shall be responsible for and pay one-half of the filing fees payable to the Antitrust Authorities in connection with the transactions contemplated hereby. Field: Page; Sequence: 80; Value: 64 Section 8.2. Preparation of Proxy Statement/Registration Statement; Shareholders’ Meeting and Approvals. (a) Registration Statement and Prospectus. (i) As promptly as practicable after the execution of this Agreement, (x) Acquiror and the Company shall jointly prepare and Acquiror shall file with the SEC, mutually acceptable materials which shall include the proxy statement to be filed with the SEC as part of the Registration Statement and sent to the Acquiror Shareholders relating to the Acquiror Shareholders’ Meeting (such proxy statement, together with any amendments or supplements thereto, the “Proxy Statement”), and (y) Acquiror shall prepare (with the Company’s reasonable cooperation (including causing its Subsidiaries and representatives to cooperate)) and file with the SEC the Registration Statement, in which the Proxy Statement will be included as a prospectus (the “Proxy Statement/Registration Statement”), in connection with the registration under the Securities Act of (A) the shares of Domesticated Acquiror Common Stock, Domesticated Acquiror Warrants and units comprising such to be issued in exchange for the issued and outstanding shares of Acquiror Class A Common Stock and Acquiror Common Warrants and units comprising such, respectively, in the Domestication, and (B) the shares of Domesticated Acquiror Common Stock that constitute the Aggregate Merger Consideration (collectively, the “Registration Statement Securities”). Each of Acquiror and the Company shall use its reasonable best efforts to cause the Proxy Statement/Registration Statement to comply with the rules and regulations promulgated by the SEC, to have the Registration Statement declared effective under the Securities Act as promptly as practicable after such filing and to keep the Registration Statement effective as long as is necessary to consummate the transactions contemplated hereby. Acquiror also agrees to use its reasonable best efforts to obtain all necessary state securities law or “Blue Sky” permits and approvals required to carry out the transactions contemplated hereby, and the Company shall furnish all information concerning the Company, its Subsidiaries and any of their respective members or stockholders as may be reasonably requested in connection with any such action."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 2712, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b704bdfdedbec3f4ab44ecd6f69bd67b7e4121c2f5fc9a86e1f3205a569e47f7", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 9936, "char_start": 7224, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p86", "passage_kind": "narrative", "passage_sequence": 86, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Each of Acquiror and the Company agrees to furnish to the other party all information concerning itself, its Subsidiaries, officers, directors, managers, stockholders, and other equityholders and information regarding such other matters as may be reasonably necessary or advisable or as may be reasonably requested in connection with the Proxy Statement/Registration Statement, a Current Report on Form 8-K pursuant to the Exchange Act in connection with the transactions contemplated by this Agreement, or any other statement, filing, notice or application made by or on behalf of Acquiror, the Company or their respective Subsidiaries to any regulatory authority (including the NYSE or Nasdaq, as applicable) in connection with the Merger and the other transactions contemplated hereby (the “Offer Documents”). Acquiror will cause the Proxy Statement/Registration Statement to be mailed to the Acquiror Shareholders in each case promptly after the Registration Statement is declared effective under the Securities Act. (ii) To the extent not prohibited by Law, Acquiror will advise the Company, reasonably promptly after Acquiror receives notice thereof, of the time when the Proxy Statement/Registration Statement has become effective or any supplement or amendment has been filed, of the issuance of any stop order or the suspension of the qualification of the Acquiror Common Stock for offering or sale in any jurisdiction, of the initiation or written threat of any proceeding for any such purpose, or of any request by the SEC for the amendment or supplement of the Proxy Statement/Registration Statement or for additional information. To the extent not prohibited by Law, the Company and their counsel shall be given a reasonable opportunity to review and comment on the Proxy Statement/Registration Statement and any Offer Document each time before any such document is filed with the SEC, and Acquiror shall give reasonable and good faith consideration to any comments made by the Company and its counsel. To the extent not prohibited by Law, Acquiror shall provide the Company and their counsel with (i) any comments or other communications, whether written or oral, that Acquiror or its counsel may receive from time to time from the SEC or its staff with respect to the Proxy Statement/Registration Statement or Offer Documents promptly after receipt of those comments or other communications and (ii) a reasonable opportunity to participate in the response of Acquiror to those comments and to provide comments on that response (to which reasonable and good faith consideration shall be given), including by participating with the Company or its counsel in any discussions or meetings with the SEC."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 3387, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9e731ae2bef4e29f28a49d78b75edd9312291f21eeb54e7b99d61542940b4a7c", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 13323, "char_start": 9936, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p87", "passage_kind": "narrative", "passage_sequence": 87, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Field: Page; Sequence: 81; Value: 64 (iii) Each of Acquiror and the Company shall ensure that none of the information supplied by or on its behalf for inclusion or incorporation by reference in (A) the Registration Statement will, at the time the Registration Statement is filed with the SEC, at each time at which it is amended and at the time it becomes effective under the Securities Act, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading or (B) the Proxy Statement will, at the date it is first mailed to the Acquiror Shareholders and at the time of the Acquiror Shareholders’ Meeting, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading. (iv) If at any time prior to the Effective Time any information relating to the Company, Acquiror or any of their respective Subsidiaries, Affiliates, directors or officers is discovered by the Company or Acquiror, which is required to be set forth in an amendment or supplement to the Proxy Statement or the Registration Statement, so that neither of such documents would include any misstatement of a material fact or omit to state any material fact necessary to make the statements therein, with respect to the Proxy Statement, in light of the circumstances under which they were made, not misleading, the party which discovers such information shall promptly notify the other parties and an appropriate amendment or supplement describing such information shall be promptly filed with the SEC and, to the extent required by Law, disseminated to the Acquiror Shareholders. (v) The Registration Statement, to the extent permitted by applicable rules and regulations of the SEC, also will register the resale of the shares of Acquiror Common Stock that constitute the Aggregate Merger Consideration, other than certain equity securities issuable under the Incentive Equity Plan that are based on Acquiror Common Stock and constitute a portion of the Aggregate Merger Consideration, which shall instead be registered pursuant to an effective registration statement on Form S-8 (or other applicable form, including Form S-1 or Form S-3) in accordance with Section 7.1(a). Field: Page; Sequence: 82; Value: 64 (b) Acquiror Shareholder Approval. Acquiror shall (a) as promptly as practicable after the Registration Statement is declared effective under the Securities Act, (i) cause the Proxy Statement to be disseminated to Acquiror Shareholders in compliance with applicable Law, (ii) solely with respect to the following clause (1), duly (1) give notice of and (2) convene and hold a meeting of its shareholders (the “Acquiror Shareholders’ Meeting”) in accordance with Acquiror’s Governing Documents and Section 710 of the NYSE Listing Rules or Nasdaq Listing Rule 5620(b), as applicable, for a date no later than thirty (30) Business Days following the date the Registration Statement is declared effective, and (iii) solicit proxies from the holders of Acquiror Common Stock to vote in favor of each of the Transaction Proposals, and (b) provide its shareholders with the opportunity to elect to effect an Acquiror Share Redemption."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 3310, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0991c40bee075d2777f1a4176b3ff682ed6f606430c1ecc86a33b0a4ef05502b", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 16633, "char_start": 13323, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p88", "passage_kind": "narrative", "passage_sequence": 88, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Acquiror shall, through its Board of Directors, recommend to its shareholders the (A) approval of the change in the jurisdiction of incorporation of Acquiror to the State of Delaware, (B) approval of the change of Acquiror’s name to “Opendoor Technologies Inc.”, (C) amendment and restatement of Acquiror’s Governing Documents, in the form attached as Exhibits A and B to this Agreement (with such changes as may be agreed in writing by Acquiror and the Company) (as may be subsequently amended by mutual written agreement of the Company and Acquiror at any time before the effectiveness of the Registration Statement) in connection with the Domestication, including any separate or unbundled proposals as are required to implement the foregoing, (D) the adoption and approval of this Agreement in accordance with applicable Law and exchange rules and regulations, (E) approval of the issuance of shares of Acquiror Common Stock in connection with the Domestication and Merger, (F) approval of the issuance of more than one percent (1%) of Acquiror’s outstanding common stock to a “related party” pursuant to the rules of the NYSE or Nasdaq, as applicable, as contemplated by the Subscription Agreements with the applicable PIPE Investors, (G) approval of the adoption by Acquiror of the equity plans described in Section 7.1, (H) the election of directors effective as of the Closing as contemplated by Section 7.6, (I) adoption and approval of any other proposals as the SEC (or staff member thereof) may indicate are necessary in its comments to the Registration Statement or correspondence related thereto, (J) adoption and approval of any other proposals as reasonably agreed by Acquiror and the Company to be necessary or appropriate in connection with the transactions contemplated hereby, and (K) adjournment of the Acquiror Shareholders’ Meeting, if necessary, to permit further solicitation of proxies because there are not sufficient votes to approve and adopt any of the foregoing (such proposals in (A) through (K), together, the “Transaction Proposals”), and include such recommendation in the Proxy Statement. The Board of Directors of Acquiror shall not withdraw, amend, qualify or modify its recommendation to the shareholders of Acquiror that they vote in favor of the Transaction Proposals (together with any withdrawal, amendment, qualification or modification of its recommendation to the shareholders of Acquiror described in the Recitals hereto, a “Modification in Recommendation”). To the fullest extent permitted by applicable Law, (x) Acquiror’s obligations to establish a record date for, duly call, give notice of, convene and hold the Acquiror Shareholders’ Meeting shall not be affected by any Modification in Recommendation, (y) Acquiror agrees to establish a record date for, duly call, give notice of, convene and hold the Acquiror Shareholders’ Meeting and submit for approval the Transaction Proposals and (z) Acquiror agrees that if the Acquiror Shareholder Approval shall not have been obtained at any such Acquiror Shareholders’ Meeting, then Acquiror shall promptly continue to take all such necessary actions, including the actions required by this Section 8.2(b), and hold additional Acquiror Shareholders’ Meetings in order to obtain the Acquiror Shareholder Approval."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 3675, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b7398c064eeb1de69d87dfd425f76a59150d82642cf56ea62323e1a73e34146f", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 20308, "char_start": 16633, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p89", "passage_kind": "narrative", "passage_sequence": 89, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Acquiror may only adjourn the Acquiror Shareholders’ Meeting (i) to solicit additional proxies for the purpose of obtaining the Acquiror Shareholder Approval, (ii) for the absence of a quorum and (iii) to allow reasonable additional time for the filing or mailing of any supplemental or amended disclosure that Acquiror has determined in good faith after consultation with outside legal counsel is required under applicable Law and for such supplemental or amended disclosure to be disseminated and reviewed by Acquiror Shareholders prior to the Acquiror Shareholders’ Meeting; provided, that the Acquiror Shareholders’ Meeting (x) may not be adjourned to a date that is more than fifteen (15) days after the date for which the Acquiror Shareholders’ Meeting was originally scheduled (excluding any adjournments required by applicable Law) and (y) shall not be held later than three (3) Business Days prior to the Agreement End Date. Acquiror agrees that it shall provide the holders of shares of Acquiror Class A Common Stock the opportunity to elect redemption of such shares of Acquiror Class A Common Stock in connection with the Acquiror Shareholders’ Meeting, as required by Acquiror’s Governing Documents. Field: Page; Sequence: 83; Value: 64 (c) Company Stockholder Approvals. Upon the terms set forth in this Agreement, the Company shall (i) use its reasonable best efforts to solicit and obtain the Company Stockholder Approvals in the form of an irrevocable written consent (the “Written Consent”) of each of the Requisite Company Stockholders (pursuant to the Company Holders Support Agreement) promptly following the time at which the Registration Statement shall have been declared effective under the Securities Act and delivered or otherwise made available to stockholders, or (ii) in the event the Company is not able to obtain the Written Consent, the Company shall duly convene a meeting of the stockholders of the Company for the purpose of voting solely upon the adoption of this Agreement, the other agreements contemplated hereby and the transactions contemplated hereby and thereby, including the Merger, as soon as reasonably practicable after the Registration Statement is declared effective. The Company shall obtain the Company Stockholder Approvals at such meeting of the stockholders of the Company and shall take all other action necessary or advisable to secure the Company Stockholder Approvals as soon as reasonably practicable after the Registration Statement is declared effective. Section 8.3. Support of Transaction. Without limiting any covenant contained in Article VI, or Article VII Acquiror and the Company shall each, and each shall cause its Subsidiaries to (a) use reasonable best efforts to obtain all material consents and approvals of third parties that any of Acquiror, or the Company or their respective Affiliates are required to obtain in order to consummate the Merger, and (b) take such other action as may be reasonably necessary or as another party hereto may reasonably request to satisfy the conditions of Article IX or otherwise to comply with this Agreement and to consummate the transactions contemplated hereby as soon as practicable. Notwithstanding anything to the contrary contained herein, no action taken by the Company under this Section 8.3 will constitute a breach of Section 6.1. Section 8.4. Tax Matters. All transfer, documentary, sales, use, real property, stamp, registration and other similar Taxes, fees and costs (including any associated penalties and interest) (“Transfer Taxes”) incurred in connection with this Agreement shall constitute Transaction Expenses. Section 8.5. Section 16 Matters."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b215"], "char_count": 3284, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f1cef65417a24c1989a7f7ccdf7e3aaa0cb1e01b94692ec4809132e34f5596d5", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 215, "char_end": 23592, "char_start": 20308, "fragment_sha256": "8144ce418b5e87f3c9ebbc07bf9bde34f4f91fcb2d1e1e379a41a85bf3908ce6", "heading_path": ["TABLE OF CONTENTS", "JOINT COVENANTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p90", "passage_kind": "narrative", "passage_sequence": 90, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Prior to the Effective Time, each of the Company and Acquiror shall take all such steps as may be required (to the extent permitted under applicable Law) to cause any dispositions of shares of the Company Capital Stock or acquisitions of Acquiror Common Shares (including, in each case, securities deliverable upon exercise, vesting or settlement of any derivative securities) resulting from the transactions contemplated hereby by each individual who may become subject to the reporting requirements of Section 16(a) of the Exchange Act in connection with the transactions contemplated hereby to be exempt under Rule B-3 promulgated under the Exchange Act. Field: Page; Sequence: 84; Value: 64 Section 8.6. Cooperation; Consultation. (a) Prior to Closing, each of the Company and Acquiror shall, and each of them shall cause its respective Subsidiaries (as applicable) and its and their officers, directors, managers, employees, consultants, counsel, accounts, agents and other representatives to, reasonably cooperate in a timely manner in connection with any financing arrangement the parties mutually agree to seek in connection with the transactions contemplated by this Agreement (it being understood and agreed that the consummation of any such financing by the Company or Acquiror shall be subject to the parties’ mutual agreement), including (if mutually agreed by the parties) (a) by providing such information and assistance as the other party may reasonably request, (b) granting such access to the other party and its representatives as may be reasonably necessary for their due diligence, and (c) participating in a reasonable number of meetings, presentations, road shows, drafting sessions, due diligence sessions with respect to such financing efforts (including direct contact between senior management and other representatives of the Company and its Subsidiaries at reasonable times and locations). All such cooperation, assistance and access shall be granted during normal business hours and shall be granted under conditions that shall not unreasonably interfere with the business and operations of the Company, Acquiror, or their respective auditors. (b) From the date of the announcement of this Agreement or the transactions contemplated hereby (pursuant to any applicable public communication made in compliance with Section 12.12), until the Closing Date, Acquiror shall use its reasonable best efforts to, and shall instruct its financial advisors to, keep the Company and its financial advisors reasonably informed with respect to the PIPE Investment and the rotation of the Acquiror Common Shares during such period, including by (i) providing regular updates and (ii) consulting and cooperating with, and considering in good faith any feedback from, the Company or its financial advisors with respect to such matters; provided, that each of Acquiror and the Company acknowledges and agrees that none of their respective financial advisors shall be entitled to any fees with respect to the PIPE Investment unless otherwise mutually agreed by the Company and Acquiror in writing; provided, further, that the Company’s financial advisors shall, at the option of such financial advisors, be credited as a placement agent with respect to the PIPE Investment."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b230"], "char_count": 1840, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7867a5998144dc9a813c4f4d64774a3bc32b42ef33e48e0c23e488a984909988", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CONDITIONS TO OBLIGATIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 230, "char_end": 1840, "char_start": 0, "fragment_sha256": "ea4160f4e21d22ba1019653b00778b68f7c90aadbe4271ab1134d3bf4e8ec2fd", "heading_path": ["TABLE OF CONTENTS", "CONDITIONS TO OBLIGATIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p91", "passage_kind": "narrative", "passage_sequence": 91, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s39", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 9.1. Conditions to Obligations of Acquiror, Merger Sub, and the Company. The obligations of Acquiror, Merger Sub, and the Company to consummate, or cause to be consummated, the Merger is subject to the satisfaction of the following conditions, any one or more of which may be waived in writing by all of such parties: (a) The Acquiror Shareholder Approval shall have been obtained; (b) The Company Stockholder Approvals shall have been obtained; (c) The Registration Statement shall have become effective under the Securities Act and no stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the SEC and not withdrawn; Field: Page; Sequence: 85 Field: Split-Segment; Name: 7 (d) The waiting period or periods under the HSR Act applicable to the transactions contemplated by this Agreement and the Ancillary Agreements shall have expired or been terminated; (e) There shall not be in force any Governmental Order, statute, rule or regulation enjoining or prohibiting the consummation of the Merger; provided, that the Governmental Authority issuing such Governmental Order has jurisdiction over the parties hereto with respect to the transactions contemplated hereby; (f) Acquiror shall have at least $5,000,001 of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act); (g) The shares of Domesticated Acquiror Common Stock to be issued in connection with the Merger shall have been approved for listing on the Nasdaq or, if requested by the Company pursuant to Section 7.3, NYSE; and (h) The sum of (x) the Trust Amount plus (y) the Third-Party PIPE Investment Amount, is equal to or greater than $200,000,000. Section 9.2. Conditions to Obligations of Acquiror and Merger Sub."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b230"], "char_count": 3531, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b16ee50204322b519b1b2343c0c7c48e2b0a635eddcb6d1264d5d253a5f174d1", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CONDITIONS TO OBLIGATIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 230, "char_end": 5371, "char_start": 1840, "fragment_sha256": "ea4160f4e21d22ba1019653b00778b68f7c90aadbe4271ab1134d3bf4e8ec2fd", "heading_path": ["TABLE OF CONTENTS", "CONDITIONS TO OBLIGATIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p92", "passage_kind": "narrative", "passage_sequence": 92, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s39", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "The obligations of Acquiror and Merger Sub to consummate, or cause to be consummated, the Merger are subject to the satisfaction of the following additional conditions, any one or more of which may be waived in writing by Acquiror and Merger Sub: (a) (i) The representations and warranties of the Company contained in the first sentence of Section 4.6(a) shall be true and correct in all but de minimis respects as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all but de minimis respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement or the Ancillary Agreements, (ii) the Company Fundamental Representations (other than the first sentence of Section 4.6(a)) shall be true and correct in all material respects, in each case as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all material respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement or the Ancillary Agreements, and (iii) each of the representations and warranties of the Company contained in this Agreement other than the Company Fundamental Representations (disregarding any qualifications and exceptions contained therein relating to materiality, material adverse effect and Company Material Adverse Effect or any similar qualification or exception) shall be true and correct as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct at and as of such date, except for, in each case, inaccuracies or omissions that would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect; provided, that, for purposes of this Section 9.2(a) only, the representations and warranties set forth in Section 4.8(c) and Section 4.9 shall be true and correct solely as of the date of this Agreement, except for, in each case, inaccuracies or omissions that would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect; provided, further, that for purposes of this Section 9.2(a), no Event that is contemplated by the Pre-Closing Restructuring Plan shall be deemed to constitute an inaccuracy in or breach of any such representations and warranties; Field: Page; Sequence: 86; Options: NewSection; Value: 80 (b) Each of the covenants of the Company to be performed as of or prior to the Closing shall have been performed in all material respects; provided, that for purposes of this Section 9.2(b), a covenant of the Company shall only be deemed to have not been performed if the Company has materially breached such material covenant and failed to cure within twenty (20) days after notice (or if earlier, the Agreement End Date); provided, further, that no action that is contemplated by the Pre-Closing Restructuring Plan may be deemed to constitute nonperformance of such material covenant; and (c) The Pre-Closing Restructuring shall have been completed as of immediately prior to the Closing in accordance with the Pre-Closing Restructuring Plan. Section 9.3. Conditions to the Obligations of the Company."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b230"], "char_count": 1939, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "18f759e7be1d013d75ee33b8fe422ddf7dcea1ea4164c363a25bee571caa6c52", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "CONDITIONS TO OBLIGATIONS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 230, "char_end": 7310, "char_start": 5371, "fragment_sha256": "ea4160f4e21d22ba1019653b00778b68f7c90aadbe4271ab1134d3bf4e8ec2fd", "heading_path": ["TABLE OF CONTENTS", "CONDITIONS TO OBLIGATIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p93", "passage_kind": "narrative", "passage_sequence": 93, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s39", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "The obligation of the Company to consummate, or cause to be consummated, the Merger is subject to the satisfaction of the following additional conditions, any one or more of which may be waived in writing by the Company: (a) (i) The representations and warranties of Acquiror contained in Section 5.12 shall be true and correct in all but de minimis respects as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all but de minimis respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement and (ii) each of the representations and warranties of Acquiror contained in this Agreement (other than Section 5.12) (disregarding any qualifications and exceptions contained therein relating to materiality, material adverse effect or any similar qualification or exception) shall be true and correct in all material respects, in each case as of the Closing Date, except with respect to such representations and warranties which speak as to an earlier date, which representations and warranties shall be true and correct in all material respects at and as of such date, except for changes after the date of this Agreement which are contemplated or expressly permitted by this Agreement or the Ancillary Agreements; (b) Each of the covenants of Acquiror to be performed as of or prior to the Closing shall have been performed in all material respects; (c) The Domestication shall have been completed as provided in Section 7.7 and a time-stamped copy of the certificate issued by the Secretary of State of the State of Delaware in relation thereto shall have been delivered to the Company; and (d) The Available Acquiror Cash shall be no less than the Minimum Available Acquiror Cash Amount. Field: Page; Sequence: 87; Value: 80"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b239"], "char_count": 3874, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "26b9103fce0900c7dea936b8596627fab2cdaaa60ae3896bef1c90021906724a", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "TERMINATION/EFFECTIVENESS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 239, "char_end": 3874, "char_start": 0, "fragment_sha256": "09294101c5a26e3f7e1a80274e498b93d9d1470b72da7b37c313c694f2ad1722", "heading_path": ["TABLE OF CONTENTS", "TERMINATION/EFFECTIVENESS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p94", "passage_kind": "narrative", "passage_sequence": 94, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s41", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 10.1. Termination. This Agreement may be terminated and the transactions contemplated hereby abandoned: (a) by written consent of the Company and Acquiror; (b) by the Company or Acquiror if any Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Governmental Order which has become final and nonappealable and has the effect of making consummation of the Merger illegal or otherwise preventing or prohibiting consummation of the Merger; (c) by the Company if the Acquiror Shareholder Approval shall not have been obtained by reason of the failure to obtain the required vote at the Acquiror Shareholders’ Meeting duly convened therefor or at any adjournment or postponement thereof; (d) by the Company if there has been a Modification in Recommendation; (e) prior to the Closing by written notice to the Company from Acquiror if (i) there is any breach of any representation, warranty, covenant or agreement on the part of the Company set forth in this Agreement, such that the conditions specified in Section 9.2(a) or Section 9.2(b) would not be satisfied at the Closing (a “Terminating Company Breach”), except that, if such Terminating Company Breach is curable by the Company through the exercise of its reasonable best efforts, then, for a period of up to thirty (30) days after receipt by the Company of notice from Acquiror of such breach, but only as long as the Company continues to use its respective reasonable best efforts to cure such Terminating Company Breach (the “Company Cure Period”), such termination shall not be effective, and such termination shall become effective only if the Terminating Company Breach is not cured within the Company Cure Period, or (ii) the Closing has not occurred on or before the date that is one hundred eighty (180) days after the date of this Agreement (the “Agreement End Date”), unless Acquiror is in material breach hereof; (f) by Acquiror if the Company Stockholder Approvals shall not have been obtained within five (5) Business Days after the Registration Statement has been declared effective by the SEC and delivered or otherwise made available to stockholders; or (g) prior to the Closing, by written notice to Acquiror from the Company if (i) there is any breach of any representation, warranty, covenant or agreement on the part of Acquiror or Merger Sub set forth in this Agreement, such that the conditions specified in Section 9.3(a) and Section 9.3(b) would not be satisfied at the Closing (a “Terminating Acquiror Breach”), except that, if any such Terminating Acquiror Breach is curable by Acquiror through the exercise of its reasonable best efforts, then, for a period of up to thirty (30) days after receipt by Acquiror of notice from the Company of such breach, but only as long as Acquiror continues to exercise such reasonable best efforts to cure such Terminating Acquiror Breach (the “Acquiror Cure Period”), such termination shall not be effective, and such termination shall become effective only if the Terminating Acquiror Breach is not cured within the Acquiror Cure Period or (ii) the Closing has not occurred on or before the Agreement End Date, unless the Company is in material breach hereof. Field: Page; Sequence: 88; Value: 80 Section 10.2. Effect of Termination. In the event of the termination of this Agreement pursuant to Section 10.1, this Agreement shall forthwith become void and have no effect, without any liability on the part of any party hereto or its respective Affiliates, officers, directors or stockholders, other than liability of the Company, Acquiror or Merger Sub, as the case may be, for any willful and material breach of this Agreement occurring prior to such termination, except that the provisions of this Section 10.2 and Article XII and the Confidentiality Agreement shall survive any termination of this Agreement."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b244"], "char_count": 1663, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "16326ebbfbf2d739c2dc8536cbcc8a6078c6cdf469544f320b1744715cc2f327", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATION AND WARRANTY INSURANCE"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 244, "char_end": 1663, "char_start": 0, "fragment_sha256": "289c079c99fdd24aadef6988e936c37d39d08308516e4bb33f874318e6c47026", "heading_path": ["TABLE OF CONTENTS", "REPRESENTATION AND WARRANTY INSURANCE"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p95", "passage_kind": "narrative", "passage_sequence": 95, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s43", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 11.1. R&W Insurance Policy. (a) Prior to the Closing, Acquiror may, in its sole discretion, obtain and bind a representation and warranty insurance policy (the “R&W Insurance Policy”) with respect to the representations and warranties of the Company set forth in this Agreement. The Company and its Subsidiaries’ shall cooperate with, and provide assistance to, Acquiror in its efforts to obtain the R&W Insurance Policy. All of the costs to obtain the R&W Insurance Policy shall be paid as contemplated by Section 12.6. (b) In the event that the R&W Insurance Policy that Acquiror decides, in its sole discretion, to purchase only covers the pro rata portion of losses attributable to Acquiror Shareholders, the Company agrees that it will take such actions requested by Acquiror as are reasonably necessary to ensure that any proceeds paid pursuant to the R&W Insurance Policy are paid only to the Acquiror Shareholders, including by agreeing to amendments to this Agreement to provide the Acquiror Shareholders a non-transferrable, contractual contingent value right to such proceeds, and ensuring that the Surviving Corporation pays any such proceeds received pursuant to the R&W Insurance Policy to the Acquiror Shareholders in accordance with such contingent value right. (c) The SCH Representative shall serve as representative of the Acquiror Shareholders from and after the Effective Time and shall act on behalf of the Acquiror Shareholders to take all necessary actions and make all decisions and direct all actions of Acquiror related to the rights of the Acquiror Shareholders pursuant to this Article XI. Field: Page; Sequence: 89; Value: 80"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b249"], "char_count": 3487, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d5c1896ad953e7be9e5f725689aea399ea3c74ba9cb1d4b14615cdfc50ad69d0", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 249, "char_end": 3487, "char_start": 0, "fragment_sha256": "e0e2b3b424644f330437bc672edabbeba5945b0bbc962f1849bda2f12166bc43", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p96", "passage_kind": "narrative", "passage_sequence": 96, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 12.1. Trust Account Waiver. The Company acknowledges that Acquiror is a blank check company with the powers and privileges to effect a Business Combination. The Company further acknowledges that, as described in the prospectus dated April 27, 2020 (the “Prospectus”) available at www.sec.gov, substantially all of Acquiror assets consist of the cash proceeds of Acquiror’s initial public offering and private placements of its securities and substantially all of those proceeds have been deposited in a the trust account for the benefit of Acquiror, certain of its public stockholders and the underwriters of Acquiror’s initial public offering (the “Trust Account”). The Company acknowledges that it has been advised by Acquiror that, except with respect to interest earned on the funds held in the Trust Account that may be released to Acquiror to pay its franchise Tax, income Tax and similar obligations, the Trust Agreement provides that cash in the Trust Account may be disbursed only (i) if Acquiror completes the transactions which constitute a Business Combination, then to those Persons and in such amounts as described in the Prospectus; (ii) if Acquiror fails to complete a Business Combination within the allotted time period and liquidates, subject to the terms of the Trust Agreement, to Acquiror in limited amounts to permit Acquiror to pay the costs and expenses of its liquidation and dissolution, and then to Acquiror’s public stockholders; and (iii) if Acquiror holds a shareholder vote to amend Acquiror’s amended and restated memorandum and articles of association to modify the substance or timing of the obligation to redeem 100% of Acquiror Common Shares if Acquiror fails to complete a Business Combination within the allotted time period, then for the redemption of any Acquiror Common Shares properly tendered in connection with such vote. For and in consideration of Acquiror entering into this Agreement, the receipt and sufficiency of which are hereby acknowledged, the Company hereby irrevocably waives any right, title, interest or claim of any kind they have or may have in the future in or to any monies in the Trust Account and agree not to seek recourse against the Trust Account or any funds distributed therefrom as a result of, or arising out of, this Agreement and any negotiations, Contracts or agreements with Acquiror; provided, that (x) nothing herein shall serve to limit or prohibit the Company’s right to pursue a claim against Acquiror for legal relief against monies or other assets held outside the Trust Account, for specific performance or other equitable relief in connection with the consummation of the transactions (including a claim for Acquiror to specifically perform its obligations under this Agreement and cause the disbursement of the balance of the cash remaining in the Trust Account (after giving effect to the Acquiror Share Redemptions) to the Company in accordance with the terms of this Agreement and the Trust Agreement) so long as such claim would not affect Acquiror’s ability to fulfill its obligation to effectuate the Acquiror Share Redemptions, or for fraud and (y) nothing herein shall serve to limit or prohibit any claims that the Company may have in the future against Acquiror’s assets or funds that are not held in the Trust Account (including any funds that have been released from the Trust Account and any assets that have been purchased or acquired with any such funds). Section 12.2. Waiver."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b249"], "char_count": 1434, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d7628a7c3b19c79cd0e8832f011181a84b0cd70647216675bd1915dcbe3608e9", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 249, "char_end": 4921, "char_start": 3487, "fragment_sha256": "e0e2b3b424644f330437bc672edabbeba5945b0bbc962f1849bda2f12166bc43", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p97", "passage_kind": "narrative", "passage_sequence": 97, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Any party to this Agreement may, at any time prior to the Closing, by action taken by its Board of Directors, Board of Managers, Managing Member or other officers or Persons thereunto duly authorized, (a) extend the time for the performance of the obligations or acts of the other parties hereto, (b) waive any inaccuracies in the representations and warranties (of another party hereto) that are contained in this Agreement or (c) waive compliance by the other parties hereto with any of the agreements or conditions contained in this Agreement, but such extension or waiver shall be valid only if set forth in an instrument in writing signed by the party granting such extension or waiver. Section 12.3. Notices. All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight delivery service, or (iv) when delivered by email (in each case in this clause (iv), solely if receipt is confirmed, but excluding any automated reply, such as an out-of-office notification), addressed as follows: Field: Page; Sequence: 90; Value: 80 (a) If to Acquiror or Merger Sub prior to the Closing, or to Acquiror after the Effective Time, to:"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b252"], "char_count": 227, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "11c5481818ae0b096ed25ad040fe4d637b9b96b12dc9727b643828dcbcb03248", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 252, "char_end": 185, "char_start": 0, "fragment_sha256": "fcc74fa5cd6c6ce91152c8663beccc7f5e572c0196ea5b60affa4541307b0f85", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": 2, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p98", "passage_kind": "table", "passage_sequence": 98, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b252", "text": "| | |\n| --- | --- |\n| Social Capital Hedosophia Holdings Corp. II | |\n| 317 University Avenue | |\n| Palo Alto, California 94301 | |\n| Attention: | Steve Trieu, Chief Financial Officer |\n| Email: | steve@socialcapital.com |"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b253"], "char_count": 51, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "16f81907fbb107104dad65d68e97e82df0614b9acae35d9bad2868e991958d07", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 253, "char_end": 51, "char_start": 0, "fragment_sha256": "c36f688bc0712f062f1ec025d500979ec49961de78a5db37f330708cceed7d3b", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p99", "passage_kind": "narrative", "passage_sequence": 99, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "with copies to (which shall not constitute notice):"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b254"], "char_count": 265, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f7ff354e6956e50ec2db7d460ac0485253f2f52496c4fdfd0e6eff3ab2d2ed46", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 254, "char_end": 215, "char_start": 0, "fragment_sha256": "0451fdef8de83cbf7d75f96ac4dfe793d549669ee97f8d4fa363c370b410033b", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": 3, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p100", "passage_kind": "table", "passage_sequence": 100, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b254", "text": "| | |\n| --- | --- |\n| Skadden, Arps, Slate, Meagher & Flom LLP | |\n| One Manhattan West | |\n| New York, New York 10001 | |\n| Attention: | Howard L. Ellin |\n| | Christopher M. Barlow |\n| Email: | howard.ellin@skadden.com |\n| | christopher.barlow@skadden.com |"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b255"], "char_count": 105, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "95c6f061a8a33568dc3bcfb7ac2dcf326f875ed5c94886fb5ddb58511d6e248e", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 255, "char_end": 105, "char_start": 0, "fragment_sha256": "717faa29a4de83b746d3239d9985a3a8e0d81ea917eb35a16f944df912ba920d", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p101", "passage_kind": "narrative", "passage_sequence": 101, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "(b) If to the Company prior to the Closing, or to the Surviving Corporation after the Effective Time, to:"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b256"], "char_count": 175, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1ae564e2e9e01911f3118754495c920e8779d0d27cf4f77f6215790f3813133a", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": ["short_passage"], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 256, "char_end": 133, "char_start": 0, "fragment_sha256": "70d4e4bc673e7e8457719bc608b6edfd419e6420b3d2ff2e30dc0e357cd78d3a", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": 4, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p102", "passage_kind": "table", "passage_sequence": 102, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b256", "text": "| | |\n| --- | --- |\n| Opendoor Labs Inc. | |\n| 1 Post Street, Floor 11 | |\n| San Francisco, CA 94104 | |\n| Attention: | Legal Department |\n| Email: | legal@opendoor.com |"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b257"], "char_count": 51, 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"norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 258, "char_end": 222, "char_start": 0, "fragment_sha256": "2e247d1e450da47da287f9c4e68499f12f248e04da08c2e1dc889cca35168a00", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": 5, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p104", "passage_kind": "table", "passage_sequence": 104, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b258", "text": "| | |\n| --- | --- |\n| Latham & Watkins LLP | |\n| 885 Third Avenue | |\n| New York, New York 10022 | |\n| Attention: | Justin G. Hamill |\n| | Joshua M. Dubofsky |\n| | Kristen Grannis |\n| Email: | justin.hamill@lw.com |\n| | josh.dubofsky@lw.com |\n| | kristen.grannis@lw.com |"} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b259"], "char_count": 3967, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c2d4d3626fc2fd326903ac7f483727d0c07254ff56e3e8ddf248cbd3028d9ebb", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 259, "char_end": 3967, "char_start": 0, "fragment_sha256": "4b4eb44ea8561655a4db9a4720f5829d7a6ed9f9598390d4a2fc19fd1ea3a7c6", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p105", "passage_kind": "narrative", "passage_sequence": 105, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "or to such other address or addresses as the parties may from time to time designate in writing. Copies delivered solely to outside counsel shall not constitute notice. Field: Page; Sequence: 91; Value: 80 Section 12.4. Assignment. No party hereto shall assign this Agreement or any part hereof without the prior written consent of the other parties and any such transfer without prior written consent shall be void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. Section 12.5. Rights of Third Parties. Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the parties hereto, any right or remedies under or by reason of this Agreement; provided, however, that the D&O Indemnified Parties and the past, present and future directors, managers, officers, employees, incorporators, members, partners, stockholders, Affiliates, agents, attorneys, advisors and representatives of the parties, and any Affiliate of any of the foregoing (and their successors, heirs and representatives), are intended third-party beneficiaries of, and may enforce, Section 12.16. Section 12.6. Expenses. Except as otherwise set forth in this Agreement, each party hereto shall be responsible for and pay its own expenses incurred in connection with this Agreement and the transactions contemplated hereby, including all fees of its legal counsel, financial advisers and accountants; provided, that if the Closing shall occur, Acquiror shall (x) pay or cause to be paid, the Unpaid Transaction Expenses, and (y) pay or cause to be paid, any transaction expenses of Acquiror (including transaction expenses incurred, accrued, paid or payable by Acquiror’s Affiliates on Acquiror’s behalf), in each of case (x) and (y), in accordance with Section 2.4(c). For the avoidance of doubt, any payments to be made (or to cause to be made) by Acquiror pursuant to this Section 12.6 shall be paid upon consummation of the Merger and release of proceeds from the Trust Account. Section 12.7. Governing Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby, shall be governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to principles or rules of conflict of Laws to the extent such principles or rules would require or permit the application of Laws of another jurisdiction. Section 12.8. Headings; Counterparts. The headings in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Section 12.9. Company and Acquiror Disclosure Letters. The Company Disclosure Letter and the Acquiror Disclosure Letter (including, in each case, any section thereof) referenced herein are a part of this Agreement as if fully set forth herein. All references herein to the Company Disclosure Letter and/or the Acquiror Disclosure Letter (including, in each case, any section thereof) shall be deemed references to such parts of this Agreement, unless the context shall otherwise require. Any disclosure made by a party in the applicable Disclosure Letter, or any section thereof, with reference to any section of this Agreement or section of the applicable Disclosure Letter shall be deemed to be a disclosure with respect to such other applicable sections of this Agreement or sections of applicable Disclosure Letter if it is reasonably apparent on the face of such disclosure that such disclosure is responsive to such other section of this Agreement or section of the applicable Disclosure Letter."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b259"], "char_count": 3790, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f4dad1ddce655903cd5bd9d6eb5b3a36f8b94e4afd831a596be91f2fe60dc0fa", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 259, "char_end": 7757, "char_start": 3967, "fragment_sha256": "4b4eb44ea8561655a4db9a4720f5829d7a6ed9f9598390d4a2fc19fd1ea3a7c6", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p106", "passage_kind": "narrative", "passage_sequence": 106, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Certain information set forth in the Disclosure Letters is included solely for informational purposes and may not be required to be disclosed pursuant to this Agreement. The disclosure of any information shall not be deemed to constitute an acknowledgment that such information is required to be disclosed in connection with the representations and warranties made in this Agreement, nor shall such information be deemed to establish a standard of materiality. Field: Page; Sequence: 92; Value: 80 Section 12.10. Entire Agreement. (i) This Agreement (together with the Company Disclosure Letter and the Acquiror Disclosure Letter), (ii) the Sponsor Support Agreement and Company Holders Support Agreement and (iii) the Mutual Nondisclosure Agreement, dated as of July 30, 2020, between Acquiror and the Company or its Affiliate (the “Confidentiality Agreement”) (clause (ii), (iii) and (iv), collectively, the “Ancillary Agreements”) constitute the entire agreement among the parties to this Agreement relating to the transactions contemplated hereby and supersede any other agreements, whether written or oral, that may have been made or entered into by or among any of the parties hereto or any of their respective Subsidiaries relating to the transactions contemplated hereby. No representations, warranties, covenants, understandings, agreements, oral or otherwise, relating to the transactions contemplated hereby exist between such parties except as expressly set forth in this Agreement and the Ancillary Agreements. Section 12.11. Amendments. This Agreement may be amended or modified in whole or in part, only by a duly authorized agreement in writing executed in the same manner as this Agreement and which makes reference to this Agreement. Section 12.12. Publicity. (a) All press releases or other public communications relating to the transactions contemplated hereby, and the method of the release for publication thereof, shall prior to the Closing be subject to the prior mutual approval of Acquiror and the Company, which approval shall not be unreasonably withheld by any party; provided, that no party shall be required to obtain consent pursuant to this Section 12.12(a) to the extent any proposed release or statement is substantially equivalent to the information that has previously been made public without breach of the obligation under this Section 12.12(a). (b) The restriction in Section 12.12(a) shall not apply to the extent the public announcement is required by applicable securities Law, any Governmental Authority or stock exchange rule; provided, however, that in such an event, the party making the announcement shall use its commercially reasonable efforts to consult with the other party in advance as to its form, content and timing. Disclosures resulting from the parties’ efforts to obtain approval or early termination under the HSR Act and to make any relating filing shall be deemed not to violate this Section 12.12. Section 12.13. Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect. The parties further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect under the Laws governing this Agreement, they shall take any actions necessary to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by Law and, to the extent necessary, shall amend or otherwise modify this Agreement to replace any provision contained herein that is held invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the parties. Field: Page; Sequence: 93; Value: 80 Section 12.14."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b259"], "char_count": 1326, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "307184094a20cb577c2d4fa6d884ce0fad1c055a0dc5ca19ceed0110bb28f06c", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 259, "char_end": 9083, "char_start": 7757, "fragment_sha256": "4b4eb44ea8561655a4db9a4720f5829d7a6ed9f9598390d4a2fc19fd1ea3a7c6", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p107", "passage_kind": "narrative", "passage_sequence": 107, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Jurisdiction; Waiver of Jury Trial. (a) Any proceeding or Action based upon, arising out of or related to this Agreement or the transactions contemplated hereby must be brought in the Court of Chancery of the State of Delaware (or, to the extent such court does not have subject matter jurisdiction, the Superior Court of the State of Delaware), or, if it has or can acquire jurisdiction, in the United States District Court for the District of Delaware, and each of the parties irrevocably (i) submits to the exclusive jurisdiction of each such court in any such proceeding or Action, (ii) waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, (iii) agrees that all claims in respect of the proceeding or Action shall be heard and determined only in any such court, and (iv) agrees not to bring any proceeding or Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court. Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by Law or to commence Legal Proceedings or otherwise proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action, suit or proceeding brought pursuant to this Section 12.14."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b266"], "char_count": 498, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7b5234d4b27db99aa089ceeb973db00dc02f8a5c49cea931dd2e640e98b7a8af", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 266, "char_end": 498, "char_start": 0, "fragment_sha256": "b35f88ac9ad812b09bfd11b09171eabf96ce69a45354652f245c0bbb9a44c5b0", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "p"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p108", "passage_kind": "narrative", "passage_sequence": 108, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "(b) EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY, UNCONDITIONALLY AND VOLUNTARILY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b267"], "char_count": 3353, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5315e0e8da7ca6484b69934786489de2d7959fb36b6eeacba2085973f4d8dc91", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 267, "char_end": 3353, "char_start": 0, "fragment_sha256": "08646be0a9986a90edfcf73133475e927097f751dba64f16e5ad29b2a4ea157a", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p109", "passage_kind": "narrative", "passage_sequence": 109, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Section 12.15. Enforcement. The parties hereto agree that irreparable damage could occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to specific enforcement of the terms and provisions of this Agreement, in addition to any other remedy to which any party is entitled at law or in equity. In the event that any Action shall be brought in equity to enforce the provisions of this Agreement, no party shall allege, and each party hereby waives the defense, that there is an adequate remedy at law, and each party agrees to waive any requirement for the securing or posting of any bond in connection therewith. Section 12.16. Non-Recourse. Except (x) as otherwise contemplated by Article XI and (y) in the case of claims against a Person in respect of such Person’s actual fraud: (a) Solely with respect to the Company, Acquiror and Merger Sub, this Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement or the transactions contemplated hereby may only be brought against, the Company, Acquiror and Merger Sub as named parties hereto; and Field: Page; Sequence: 94; Value: 80 (b) except to the extent a party hereto (and then only to the extent of the specific obligations undertaken by such party hereto), (i) no past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of the Company, Acquiror or Merger Sub and (ii) no past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney, advisor or representative or Affiliate of any of the foregoing shall have any liability (whether in Contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other obligations or liabilities of any one or more of the Company, Acquiror or Merger Sub under this Agreement for any claim based on, arising out of, or related to this Agreement or the transactions contemplated hereby. Section 12.17. Non-Survival of Representations, Warranties and Covenants. Except (x) as otherwise contemplated by Section 10.2 or, solely for purposes of any claims made under the R&W Insurance Policy, by Article XI, or (y) in the case of claims against a Person in respect of such Person’s actual fraud, none of the representations, warranties, covenants, obligations or other agreements in this Agreement or in any certificate, statement or instrument delivered pursuant to this Agreement, including any rights arising out of any breach of such representations, warranties, covenants, obligations, agreements and other provisions, shall survive the Closing and shall terminate and expire upon the occurrence of the Effective Time (and there shall be no liability after the Closing in respect thereof), except for (a) those covenants and agreements contained herein that by their terms expressly apply in whole or in part after the Closing and then only with respect to any breaches occurring after the Closing and (b) this Article XII. Section 12.18."} +{"artifact_role": "ex2-01", "block_ids": ["norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#b267"], "char_count": 2314, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "63f59be5095173bd812bf02da2fe6f7ce8b59118a77ffd91db34c6c9e4bcca0a", "derivation_id": "c75815a95eaba6d10f6571b3a26c5018f290af9d6c8706774a0ef17dbd082832", "document_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "document_type": "other", "exhibit_type": "EX-2.1", "filing_date": "2020-09-17", "filing_id": "sec:0001801169:0001104659-20-105791", "flags": [], "form": "8-K/A", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "items": ["1.01", "3.02", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "block_sequence": 267, "char_end": 5667, "char_start": 3353, "fragment_sha256": "08646be0a9986a90edfcf73133475e927097f751dba64f16e5ad29b2a4ea157a", "heading_path": ["TABLE OF CONTENTS", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#p110", "passage_kind": "narrative", "passage_sequence": 110, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2020-09-15", "section_id": "norm:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-20-105791:tm2030935d1_ex2-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465920105791/tm2030935d1_ex2-1.htm", "table_id": null, "text": "Conflicts and Privilege. (a) Acquiror and the Company, on behalf of their respective successors and assigns (including, after the Closing, the Surviving Corporation), hereby agree that, in the event a dispute with respect to this Agreement or the transactions contemplated hereby arises after the Closing between or among (x) the Sponsor, the stockholders or holders of other equity interests of Acquiror or the Sponsor and/or any of their respective directors, members, partners, officers, employees or Affiliates (other than the Surviving Corporation) (collectively, the “SCH Group”), on the one hand, and (y) the Surviving Corporation and/or any member of the Opendoor Group, on the other hand, any legal counsel, including Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden”), that represented Acquiror and/or the Sponsor prior to the Closing may represent the Sponsor and/or any other member of the SCH Group, in such dispute even though the interests of such Persons may be directly adverse to the Surviving Corporation, and even though such counsel may have represented Acquiror in a matter substantially related to such dispute, or may be handling ongoing matters for the Surviving Corporation and/or the Sponsor. Acquiror and the Company, on behalf of their respective successors and assigns (including, after the Closing, the Surviving Corporation), further agree that, as to all legally privileged communications prior to the Closing (made in connection with the negotiation, preparation, execution, delivery and performance under, or any dispute or Action arising out of or relating to, this Agreement, any Ancillary Agreements or the transactions contemplated hereby or thereby) between or among Acquiror, the Sponsor and/or any other member of the SCH Group, on the one hand, and Skadden, on the other hand, the attorney/client privilege and the expectation of client confidence shall survive the Merger and belong to the SCH Group after the Closing, and shall not pass to or be claimed or controlled by the Surviving Corporation. 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"Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (\u00a7230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (\u00a7240.12b-2 of this chapter). Emerging growth company \u2610 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \u2610" + }, + { + "block_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b19", + "block_sequence": 19, + "block_sha256": "1145bc35522dd074fb4bd3f0febebc3f105563c9f5b79d0e14b0e35288be08a9", + "block_type": "heading", + "char_count": 16, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", + "block_sequence": 19, + "char_end": 16, + "char_start": 0, + "fragment_sha256": "87087f2a88602fa478de7b2f896063708b043b5ed729eb6e874508e9fa97183e", + "heading_path": [ + "N/A", + "Explanatory Note" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#s12", + "table": null, + "text": "Explanatory Note" + }, + { + "block_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b20", + "block_sequence": 20, + "block_sha256": "b78e0a02074abb1abbb9493d5fb859311294527dd81d23b88bbfa02687917aea", + "block_type": "paragraph", + "char_count": 345, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", + "block_sequence": 20, + "char_end": 345, + "char_start": 0, + "fragment_sha256": "d81272c387fd334ab74c688ec0ba09b2318940db23a14d609e945e77e07bacb7", + "heading_path": [ + "N/A", + "Explanatory Note" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#s12", + "table": null, + "text": "This Current Report on Form 8-K/A amends Item 5.02 of the Current Report on Form 8-K (the \u201cOriginal Report\u201d) filed by Opendoor Technologies Inc. (the \u201cCompany\u201d) with the Securities and Exchange Commission (the \u201cSEC\u201d) on August 15, 2025. Except for the additional information described below, nothing disclosed in the Original Report has changed." + }, + { + "block_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b21", + "block_sequence": 21, + "block_sha256": "588fe38fd20b82d3b74bea9ce31a5c0782fd9b1b08d079a4c0a09723578091b0", + "block_type": "heading", + "char_count": 156, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", + "block_sequence": 21, + "char_end": 156, + "char_start": 0, + "fragment_sha256": "5cea478ecfe296015970355ee5a2e3e0103ffc2879db9a0c8b7b961b8ee02d31", + "heading_path": [ + "N/A", + "Item 5.02. 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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" + }, + { + "block_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b22", + "block_sequence": 22, + "block_sha256": "a07e6d01bc78dcc6695dec32dd2daa2a0b57cd312386ef3a94f6f0e2c84cac0a", + "block_type": "paragraph", + "char_count": 1350, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", + "block_sequence": 22, + "char_end": 1350, + "char_start": 0, + "fragment_sha256": "1c16bf68a0dd8a9e14de1f3987e923933dfd3acd9ca16e263aff15339f7955bf", + "heading_path": [ + "N/A", + "Item 5.02. 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Pursuant to the Amended Offer Letter, Mr. Radhakrishna\u2019s annual base salary was increased to $700,000 and his target bonus opportunity under the Company\u2019s annual cash incentive program remains unchanged at 50% of his annual base salary (but he will receive a minimum annual bonus for 2025 of $500,000). The Amended Offer Letter further provides that Mr. Radhakrishna will receive a one-time cash retention bonus in the amount of $250,000 in connection with his appointment. 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In addition, Shrisha Radhakrishna, Selim Freiha and Sydney Schaub have each terminated the 10b5-1 trading plans they each had previously adopted related to the sale of the Company\u2019s common stock." + }, + { + "block_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b25", + "block_sequence": 25, + "block_sha256": "3a815681c314304ae7eacce23bab2fbf908399c652e96633aa7c6cc8d8869cf2", + "block_type": "paragraph", + "char_count": 469, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", + "block_sequence": 25, + "char_end": 469, + "char_start": 0, + "fragment_sha256": "01fcf7ea24466f759d14fbd438e3eeba1e30784f19ebf2fecdaf3aa6895332f7", + "heading_path": [ + "N/A", + "Item 7.01. 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following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b17"], "char_count": 231, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9d1b778065471f9637ce3bcd2a7e63ace885cc368bf8c65cf055480eea31ab04", "derivation_id": "19e7ebbfbd189ac5287bf3ddbd90f8ea253af857118ad38163aa126e6e21c1e6", "document_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036125033195/ef20054807_8ka.htm", "table_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b17", "text": "| | | | | |\n| --- | --- | --- | --- | --- |\n| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |\n| Common stock, $0.0001 par value per share | | OPEN | | The Nasdaq Stock Market LLC |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b18"], "char_count": 517, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d1ab1f0e65a97a1333e70f74d30be16b71c9b9a974d8b346a5adbc5e065995ec", "derivation_id": "19e7ebbfbd189ac5287bf3ddbd90f8ea253af857118ad38163aa126e6e21c1e6", "document_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2025-08-28", "filing_id": "sec:0001801169:0001140361-25-033195", "flags": [], "form": "8-K/A", "heading_path": ["N/A"], "items": ["5.02", "7.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "block_sequence": 18, "char_end": 517, "char_start": 0, "fragment_sha256": "df79b461036221a6e44e7e1ca53e97665748dacd0295a0bebab6bad502136cc1", "heading_path": ["N/A"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-08-15", "section_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#s11", "source_artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125033195/ef20054807_8ka.htm", "table_id": null, "text": "Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b20"], "char_count": 345, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b78e0a02074abb1abbb9493d5fb859311294527dd81d23b88bbfa02687917aea", "derivation_id": "19e7ebbfbd189ac5287bf3ddbd90f8ea253af857118ad38163aa126e6e21c1e6", "document_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2025-08-28", "filing_id": "sec:0001801169:0001140361-25-033195", "flags": [], "form": "8-K/A", "heading_path": ["N/A", "Explanatory Note"], "items": ["5.02", "7.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "block_sequence": 20, "char_end": 345, "char_start": 0, "fragment_sha256": "d81272c387fd334ab74c688ec0ba09b2318940db23a14d609e945e77e07bacb7", "heading_path": ["N/A", "Explanatory Note"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-08-15", "section_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#s12", "source_artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125033195/ef20054807_8ka.htm", "table_id": null, "text": "This Current Report on Form 8-K/A amends Item 5.02 of the Current Report on Form 8-K (the “Original Report”) filed by Opendoor Technologies Inc. (the “Company”) with the Securities and Exchange Commission (the “SEC”) on August 15, 2025. Except for the additional information described below, nothing disclosed in the Original Report has changed."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b22"], "char_count": 1350, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a07e6d01bc78dcc6695dec32dd2daa2a0b57cd312386ef3a94f6f0e2c84cac0a", "derivation_id": "19e7ebbfbd189ac5287bf3ddbd90f8ea253af857118ad38163aa126e6e21c1e6", "document_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2025-08-28", "filing_id": "sec:0001801169:0001140361-25-033195", "flags": [], "form": "8-K/A", "heading_path": ["N/A", "Item 5.02. 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At the time of the Original Report, the modifications to Mr. Radhakrishna’s compensation arrangements had not been finalized. Effective August 26, 2025, in connection with his appointment as President and interim principal executive officer of the Company, Shrisha Radhakrishna and Opendoor Labs Inc. entered into an amended offer letter agreement (the “Amended Offer Letter”). Pursuant to the Amended Offer Letter, Mr. Radhakrishna’s annual base salary was increased to $700,000 and his target bonus opportunity under the Company’s annual cash incentive program remains unchanged at 50% of his annual base salary (but he will receive a minimum annual bonus for 2025 of $500,000). The Amended Offer Letter further provides that Mr. Radhakrishna will receive a one-time cash retention bonus in the amount of $250,000 in connection with his appointment. Mr. Radhakrishna’s eligibility for severance payments and benefits upon certain qualifying terminations of employment will continue to be governed by the Company’s Executive Severance Plan, under which he has been designated as a Tier 1 participant."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b24", "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b25"], "char_count": 857, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dea11044de8204de27110afd3a2c8e7f46db27dc11df5cec94f99d24a88a6c14", "derivation_id": "19e7ebbfbd189ac5287bf3ddbd90f8ea253af857118ad38163aa126e6e21c1e6", "document_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2025-08-28", "filing_id": "sec:0001801169:0001140361-25-033195", "flags": [], "form": "8-K/A", "heading_path": ["N/A", "Item 7.01. 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Regulation FD Disclosure."], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-08-15", "section_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#s14", "source_artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125033195/ef20054807_8ka.htm", "table_id": null, "text": "On August 28, 2025, Shrisha Radhakrishna purchased 30,000 shares of the Company’s common stock on the open market in compliance with the Company’s Insider Trading and Trading Windows Policy. In addition, Shrisha Radhakrishna, Selim Freiha and Sydney Schaub have each terminated the 10b5-1 trading plans they each had previously adopted related to the sale of the Company’s common stock.\n\nThe information contained in Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#b27"], "char_count": 303, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "32ed128b1db366c28b6dc039e4a0c43919aea319ca8eb44b14df3ef59339ef78", "derivation_id": "19e7ebbfbd189ac5287bf3ddbd90f8ea253af857118ad38163aa126e6e21c1e6", "document_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "document_type": "narrative_primary", "exhibit_type": "8-K/A", "filing_date": "2025-08-28", "filing_id": "sec:0001801169:0001140361-25-033195", "flags": [], "form": "8-K/A", "heading_path": ["N/A", "SIGNATURES"], "items": ["5.02", "7.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "block_sequence": 27, "char_end": 303, "char_start": 0, "fragment_sha256": "3e1791ea258568d688f9fef99f39640e713b14cf184f9b964ca745752705c86c", "heading_path": ["N/A", "SIGNATURES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-08-15", "section_id": "norm:0001801169:0001140361-25-033195:ef20054807_8ka.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-033195:ef20054807_8ka.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125033195/ef20054807_8ka.htm", "table_id": null, "text": "Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 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Emerging growth company \u2610 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o" + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b20", + "block_sequence": 20, + "block_sha256": "e8870ce0441351859851db56a2afc12254dcdd1d21a912def660d48af575ba22", + "block_type": "heading", + "char_count": 10, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 20, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "1ed009d200bf027511b9b2f87ae4c2104f002364adfd7f2f3283926048dc4f3d", + "heading_path": [ + "UNITED STATES", + "Item 7.01." + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s12", + "table": null, + "text": "Item 7.01." + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b21", + "block_sequence": 21, + "block_sha256": "8cab585ff1aefe103d7620b5d9915c3e3c76ae50dd3b24c9afa156d92c74ba51", + "block_type": "heading", + "char_count": 25, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 21, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "24d33da94566b79c325c92b04e410a5f3e891e9ea1a26eb3338a0e11f8d24784", + "heading_path": [ + "UNITED STATES", + "Item 7.01.", + "Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s13", + "table": null, + "text": "Regulation FD Disclosure." + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b22", + "block_sequence": 22, + "block_sha256": "b9aa19c3f0fc86505c57adad0d7df7e0cd536076d4707ca07fe1c70da0ee4998", + "block_type": "heading", + "char_count": 55, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 22, + "char_end": 55, + "char_start": 0, + "fragment_sha256": "a8b4eb1368261f294f284a01ecc91c5d8c6908d593b5e634ed8b479059953553", + "heading_path": [ + "UNITED STATES", + "Item 7.01.", + "Regulation FD Disclosure.", + "Opendoor Disclosure Channels To Disseminate Information" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s14", + "table": null, + "text": "Opendoor Disclosure Channels To Disseminate Information" + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b23", + "block_sequence": 23, + "block_sha256": "9965cf3687e29143e228ba147380d644804a889f761e5f43e81651e1923fbc0c", + "block_type": "paragraph", + "char_count": 950, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 23, + "char_end": 950, + "char_start": 0, + "fragment_sha256": "7467f0edce28883f19ed378ba46dcfc28dd96cbde3c32d717d4401862f494b67", + "heading_path": [ + "UNITED STATES", + "Item 7.01.", + "Regulation FD Disclosure.", + "Opendoor Disclosure Channels To Disseminate Information" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s14", + "table": null, + "text": "Opendoor Technologies Inc. (the \u201cCompany\u201d or \u201cOpendoor\u201d) investors and others should note that the Company has used, and intends to continue to use, Opendoor\u2019s website, press releases, Securities and Exchange Commission (\u201cSEC\u201d) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @CanadaKaz, and @Opendoor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor\u2019s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts." + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b24", + "block_sequence": 24, + "block_sha256": "0f8cd3437b755f01ffdc697be2a6a74c53efcf09900a5a5dd84c3e0429e1ab7d", + "block_type": "heading", + "char_count": 10, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 24, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "7aeb5a9d392b0feea74f14b35b7469a1e2465fa15c4171f8d62950bdf06ea61f", + "heading_path": [ + "UNITED STATES", + "Item 8.01." + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s15", + "table": null, + "text": "Item 8.01." + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b25", + 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"section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s18", + "table": null, + "text": "This Current Report on Form 8-K (this \u201cReport\u201d) contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this Report that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our product and market expansion plans, our new and enhanced product offerings, and our business strategy. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this Report include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share in our existing markets or any new markets we may enter; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors, including our Chief Executive Officer role; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such" + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b30", + "block_sequence": 30, + "block_sha256": "d4735e3a265e16eee03f59718b9b5d03019c07d8b6c51f90da3a666eec13ab35", + "block_type": "heading", + "char_count": 1, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 30, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "a93b85236a0092e6f7d66a3e734d771b4c661a2de9844a9105bbd381f3e87186", + "heading_path": [ + "UNITED STATES", + "Item 8.01.", + "Other Events.", + "2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s19", + "table": null, + "text": "2" + }, + { + "block_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#b31", + "block_sequence": 31, + "block_sha256": "29e248ef16b92419def9c394d118c5369ef6bddbd4847d90fc22283bc267e1b4", + "block_type": "paragraph", + "char_count": 1473, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", + "block_sequence": 31, + "char_end": 1473, + "char_start": 0, + "fragment_sha256": "f9b7ec34987d627d359276efa2c7802cf39a9a3d3074c0033ad26cf34e623641", + "heading_path": [ + "UNITED STATES", + "Item 8.01.", + "Other Events.", + "2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s19", + "table": null, + "text": "environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on February 27, 2025, as updated by our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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(the “Company” or “Opendoor”) investors and others should note that the Company has used, and intends to continue to use, Opendoor’s website, press releases, Securities and Exchange Commission (“SEC”) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @CanadaKaz, and @Opendoor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor’s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-25-000082:open-20250916.htm#b27"], "char_count": 275, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b3497d78dee292b10c23c684c3ce32c661e608c100edb78ca07937964ee4b281", "derivation_id": "baefd492aa2e7187f1795c574620672519fb3d107b0011e4172cbba17b8069e3", "document_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-09-17", "filing_id": "sec:0001801169:0001801169-25-000082", "flags": [], "form": "8-K", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "Opendoor Markets Expansion"], "items": ["7.01", "8.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "block_sequence": 27, "char_end": 275, "char_start": 0, "fragment_sha256": "ad6fa9a037accea66122d1f8a9c0e9d64bca0ccc5f2f2db5e1e48dfa07395970", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "Opendoor Markets Expansion"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-09-16", "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s17", "source_artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000082/open-20250916.htm", "table_id": null, "text": "Opendoor intends to expand its product offerings to allow the Company to provide services through the entire continental United States in the coming weeks, through one or more of its direct cash offer, cash plus or working with its partner agents to provide listing services."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-25-000082:open-20250916.htm#b29"], "char_count": 1271, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ba8a20bb6f4971be54d5156fc30fbc4de684a830de023e2b1c44cd9cb3cd9d73", "derivation_id": "baefd492aa2e7187f1795c574620672519fb3d107b0011e4172cbba17b8069e3", "document_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-09-17", "filing_id": "sec:0001801169:0001801169-25-000082", "flags": [], "form": "8-K", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "Opendoor Markets Expansion", "Forward Looking Statements"], "items": ["7.01", "8.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "block_sequence": 29, "char_end": 1271, "char_start": 0, "fragment_sha256": "f7ce1fb34ca56bb36902b6116277047011cb676147edef95b3ca8d91d02763ce", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "Opendoor Markets Expansion", "Forward Looking Statements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-09-16", "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s18", "source_artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000082/open-20250916.htm", "table_id": null, "text": "This Current Report on Form 8-K (this “Report”) contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this Report that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our product and market expansion plans, our new and enhanced product offerings, and our business strategy. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-25-000082:open-20250916.htm#b29"], "char_count": 3022, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "76a12f6022c40da692411532e8fa396a16930e5dbd3cfbab419a602636ecf242", "derivation_id": "baefd492aa2e7187f1795c574620672519fb3d107b0011e4172cbba17b8069e3", "document_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-09-17", "filing_id": "sec:0001801169:0001801169-25-000082", "flags": [], "form": "8-K", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "Opendoor Markets Expansion", "Forward Looking Statements"], "items": ["7.01", "8.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "block_sequence": 29, "char_end": 4293, "char_start": 1271, "fragment_sha256": "f7ce1fb34ca56bb36902b6116277047011cb676147edef95b3ca8d91d02763ce", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "Opendoor Markets Expansion", "Forward Looking Statements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-09-16", "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s18", "source_artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000082/open-20250916.htm", "table_id": null, "text": "The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this Report include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share in our existing markets or any new markets we may enter; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors, including our Chief Executive Officer role; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-25-000082:open-20250916.htm#b31"], "char_count": 1473, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "29e248ef16b92419def9c394d118c5369ef6bddbd4847d90fc22283bc267e1b4", "derivation_id": "baefd492aa2e7187f1795c574620672519fb3d107b0011e4172cbba17b8069e3", "document_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-09-17", "filing_id": "sec:0001801169:0001801169-25-000082", "flags": [], "form": "8-K", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "2"], "items": ["7.01", "8.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "block_sequence": 31, "char_end": 1473, "char_start": 0, "fragment_sha256": "f9b7ec34987d627d359276efa2c7802cf39a9a3d3074c0033ad26cf34e623641", "heading_path": ["UNITED STATES", "Item 8.01.", "Other Events.", "2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-09-16", "section_id": "norm:0001801169:0001801169-25-000082:open-20250916.htm#s19", "source_artifact_id": "sec:0001801169:0001801169-25-000082:open-20250916.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000082/open-20250916.htm", "table_id": null, "text": "environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2025, as updated by our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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Ms. Schwartz, age 46, served as the Company\u2019s interim Chief Financial Officer from December 2022 to November 2024, and its Chief Accounting Officer from March 2021 to May 2025. Prior to that, she served as the Company\u2019s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. In connection with her appointment as interim Chief Financial Officer, Ms. Schwartz and the Company entered into an offer letter, dated September 18, 2025 (the \u201cSchwartz Offer Letter\u201d). Pursuant to the Schwartz Offer Letter, Ms. Schwartz is entitled to an annual base salary of $1,200,000. In addition, subject to the approval of the Board, the Schwartz Offer Letter provides that Ms. Schwartz will be granted an award of 400,641 restricted stock units (\u201cRSUs\u201d). The RSUs will vest in three equal installments on each of November 15, 2025, February 15, 2026 and May 15, 2026. The Schwartz Offer Letter further provides that, if Ms. Schwartz\u2019s employment is terminated by the Company other than for cause prior to May 15, 2026, if she resigns 30 days after the Company hires a Chief Financial Officer, or if she terminates her employment for any reason subsequent to May 15, 2026, she will be entitled to (i) a lump sum cash payment equal to the difference between $1,200,000 and any salary (before taxes, deductions, and withholdings) already paid under the Schwartz Offer Letter, and (ii) accelerated vesting of any outstanding unvested portion of the foregoing RSUs. In addition, Ms. Schwartz will enter into an Indemnification Agreement based on the form previously approved by the Board and entered into with the Company\u2019s other executive officers. 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OPEN | | The Nasdaq Stock Market LLC |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-035480:ef20055829_8k.htm#b20"], "char_count": 549, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2507c20240ea1493cde90004ca531c8deb50a26ee27e469e8808013c5b5cafb4", "derivation_id": "ffe50c79a3caae4c09e7abac9efa2719b1c9aaa274b66ec76e0380e11de32c4c", "document_id": "norm:0001801169:0001140361-25-035480:ef20055829_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-09-19", "filing_id": "sec:0001801169:0001140361-25-035480", "flags": [], "form": "8-K", "heading_path": ["N/A"], "items": ["5.02"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-035480:ef20055829_8k.htm", "block_sequence": 20, "char_end": 549, "char_start": 0, "fragment_sha256": "5e10824ea6bdb0339a10a50f6f128e6f37200d37724c411c129419e176995a21", "heading_path": ["N/A"], "table_index": null, "tag_name": 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Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ PROfilePageNumberReset%Num%2%%%"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-035480:ef20055829_8k.htm#b22"], "char_count": 2606, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "66aa64121159105a36bcad065c085d0476986bac47e32fb550f9f7a176c24bce", "derivation_id": "ffe50c79a3caae4c09e7abac9efa2719b1c9aaa274b66ec76e0380e11de32c4c", "document_id": "norm:0001801169:0001140361-25-035480:ef20055829_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-09-19", "filing_id": "sec:0001801169:0001140361-25-035480", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 5.02. 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(the “Company”) announced the appointment of Christy Schwartz as the interim Chief Financial Officer of the Company, effective as of September 30, 2025, replacing Selim Freiha, the Company’s Chief Financial Officer. On September 18, 2025, the Company and Mr. Freiha agreed that Mr. Freiha would depart from such position effective September 19, 2025. Ms. Schwartz’s appointment as interim Chief Financial Officer will conclude on the earlier of (i) May 15, 2026, or (ii) 30 days from the appointment of a Chief Financial Officer. Ms. Schwartz, age 46, served as the Company’s interim Chief Financial Officer from December 2022 to November 2024, and its Chief Accounting Officer from March 2021 to May 2025. Prior to that, she served as the Company’s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. In connection with her appointment as interim Chief Financial Officer, Ms. Schwartz and the Company entered into an offer letter, dated September 18, 2025 (the “Schwartz Offer Letter”). Pursuant to the Schwartz Offer Letter, Ms. Schwartz is entitled to an annual base salary of $1,200,000. In addition, subject to the approval of the Board, the Schwartz Offer Letter provides that Ms. Schwartz will be granted an award of 400,641 restricted stock units (“RSUs”). The RSUs will vest in three equal installments on each of November 15, 2025, February 15, 2026 and May 15, 2026. The Schwartz Offer Letter further provides that, if Ms. Schwartz’s employment is terminated by the Company other than for cause prior to May 15, 2026, if she resigns 30 days after the Company hires a Chief Financial Officer, or if she terminates her employment for any reason subsequent to May 15, 2026, she will be entitled to (i) a lump sum cash payment equal to the difference between $1,200,000 and any salary (before taxes, deductions, and withholdings) already paid under the Schwartz Offer Letter, and (ii) accelerated vesting of any outstanding unvested portion of the foregoing RSUs. In addition, Ms. Schwartz will enter into an Indemnification Agreement based on the form previously approved by the Board and entered into with the Company’s other executive officers. Ms. Schwartz does not have any family relationships with any of the Company’s directors or executive officers. 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Opendoor Technologies Inc. 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McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL STIPULATION OF SETTLEMENT This Stipulation of Settlement, dated June 27, 2025 (the \u201cStipulation\u201d) is made and entered into by the following Settling Parties (as defined herein), each by and through their respective counsel of record: (1) plaintiff Samhita Gera (\u201cGera\u201d) in the above-captioned stockholder derivative action (the \u201cGera Action\u201d), Ryan Carlson (\u201cCarlson\u201d) and Seth Van Dorn (\u201cVan Dorn\u201d), plaintiffs to the consolidated shareholder derivative action captioned In Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 2 of 95 Exhibit 99.1" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b7", + "block_sequence": 7, + "block_sha256": "283b67caedeff8a884351202ea50261a38da98af35e177576b4c9faca7a71615", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 7, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ad6b73ac391a1cdc132d116ce55bb4351459fbe9b0a99d1770453b9b2457810d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof002.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b8", + "block_sequence": 8, + "block_sha256": "96afdab920f4ed650ce7abfd2f9032e9b82f63555ac0a1b170afc1f61c8f2f9a", + "block_type": "paragraph", + "char_count": 2495, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 8, + "char_end": 2495, + "char_start": 0, + "fragment_sha256": "ba6ef3e974ec3183f0ed0c6f9fc5cd2a3735332db1a818964ddeda633a1596b4", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 2 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642-PAF pending in the Court of Chancery of the State of Delaware (the \u201cDelaware Chancery Action\u201d), Tammy Juul (\u201cJuul\u201d), plaintiff to the shareholder derivative action captioned Juul v. Wu et al., Case No. 1:23-cv-00705-MN, in the U.S. District Court for the District of Delaware (the \u201cJuul Action\u201d), and Lori Woods (\u201cWoods\u201d) and Makar Stozhyk (\u201cStozhyk\u201d), plaintiffs in the shareholder derivative action captioned Woods, et al. v. Bain et al., Case No. 1:23-cv-01158- MN in the U.S. District Court for the District of Delaware (the \u201cWoods Action\u201d) (collectively, \u201cPlaintiffs\u201d in the \u201cDerivative Actions\u201d); (2) individual defendants Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice (collectively, the \u201cIndividual Defendants\u201d); (3) SCH Sponsor II LLC (\u201cSponsor\u201d); and (4) nominal defendant Opendoor Technologies Inc. (\u201cOpendoor\u201d or the \u201cCompany,\u201d and together with the Individual Defendants and Sponsor, \u201cDefendants\u201d) (\u201cSettling Parties\u201d refers collectively to Plaintiffs and Defendants).1 This Stipulation, subject to court approval, is intended to fully, finally, and forever resolve, discharge, dismiss, and settle any and all Released Claims (as defined in Section IV, \u00b61.23), upon the terms and subject to the conditions set forth herein. 1 The Settlement also resolves all matters raised in a litigation demand made on February 3, 2025, by Clifford Raymond (\u201cRaymond\u201d), represented by Vik Pawar Law PLLC and a litigation demand made on January 24, 2025, by Nicholas R. Ingrao (\u201cIngrao\u201d), represented by Shuman, Glenn & Stecker. Counsel for Raymond and Ingrao have provided written acknowledgments by agreement to this Stipulation that (i) the allegations set forth in their litigation demands arise from the same underlying facts, conduct, events, occurrences, transactions, or allegations set forth or referred to in the Derivative Actions and (ii) the Settlement fully addresses and resolves all the matters raised in the litigation demands. Raymond and Ingrao have represented by written acknowledgment and agreement to this Stipulation that they have no objection to the Settlement on the terms set forth herein. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 3 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b9", + "block_sequence": 9, + "block_sha256": "2519d86dee5fd421161f7d275d0322447ae9408c91b347ab547627191a8c401a", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 9, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "1c7372300252682d1adfe9a51b511ddfd0f77b6a7be46a532b1e9a3deefcbfb0", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof003.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b10", + "block_sequence": 10, + "block_sha256": "06f938fe5616fee60f34acb9e306f1fcaf97cbe1dcdedd7e96220ea1340153b9", + "block_type": "paragraph", + "char_count": 2085, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 10, + "char_end": 2085, + "char_start": 0, + "fragment_sha256": "a67e50e2ec6782f727234924a1420451278549f20c4172b4d80a15c67b37f77e", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 3 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 I. BACKGROUND A. The Derivative Actions 1. The Gera Action On October 18, 2023, Plaintiff Gera filed a Verified Shareholder Derivative Complaint on behalf of Opendoor against the Individual Defendants and Sponsor, asserting claims under Section 14(a) of the Exchange Act in the United States District Court for the District of Arizona, (the \u201cCourt\u201d). ECF No. 1. On February 8, 2024, the Individual Defendants and Sponsor, and Opendoor, respectively, filed motions to dismiss the complaint in the Gera Action. ECF Nos. 11-14. Plaintiff Gera filed oppositions to those motions on April 22, 2024, and Defendants filed their respective replies on May 30, 2024. ECF Nos. 15-18, 22-24. On August 14, 2024, after hearing oral arguments on the motions to dismiss on June 24, 2024, the Court granted the motions and granted Plaintiff Gera leave to amend. ECF No. 29. On September 12, 2024, Plaintiff Gera filed a Verified Amended Shareholder Derivative Complaint (the \u201cAmended Complaint\u201d) asserting claims under Section 14(a) of the Exchange Act and for breach of fiduciary duty against the Individual Defendants and Sponsor. ECF No. 31. On October 28, 2024, the Individual Defendants and Sponsor, and Opendoor, respectively, filed their motions to dismiss the Amended Complaint. ECF Nos. 36-38 On January 9, 2025, Plaintiff Gera filed her oppositions to those motions. ECF Nos. 43-45. Defendants filed their respective replies on February 14, 2025. ECF Nos. 46-48. On February 25, 2025, Plaintiff Gera filed a Notice of Settlement. ECF No. 50. The next day, proceedings in the Gera Action were stayed upon the Court\u2019s order, and the Court set a deadline for dismissal of the Gera Action on March 25, 2025, absent further motion of the parties. ECF No. 51. On March 25, 2025, the parties to the Gera Action filed a joint motion to extend the deadline for any dismissal of the case in connection with the settlement and for Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 4 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b11", + "block_sequence": 11, + "block_sha256": "fb6ccc265e5f7d9bc918d671deb6ffa2d1308f25df4448dcb9d31a58fd434294", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 11, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "de813df25ea4cf9ca703ceebfc249dbd97ffcdd316938738ea7ceada32af8105", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof004.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b12", + "block_sequence": 12, + "block_sha256": "79a9d24a3b5073b6730c359bfaa011a6f20ff61f375f8cea93ed40cd87daa7b6", + "block_type": "paragraph", + "char_count": 2242, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 12, + "char_end": 2242, + "char_start": 0, + "fragment_sha256": "5b19ddd7e6d031e224c9466883505ba3f633d9deb32182488520487f527cc05b", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 4 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 the parties to submit formal settlement documentation. ECF No. 52. Thereafter, the Court vacated the dismissal deadline and ordered that the motion for preliminary approval of the settlement be filed by April 25, 2025. ECF No. 53. On April 29, 2025, the Court granted Plaintiff Gera\u2019s unopposed motion to extend the time to file a motion for preliminary approval until June 1, 2025. ECF Nos. 54-55. On June 2, 2025, the Court granted Plaintiff Gera\u2019s unopposed motion to extend the time to file a motion for preliminary approval until June 13, 2025. ECF Nos. 56-57. On June 16, 2025, the Court granted Plaintiff Gera\u2019s unopposed motion to extend the time to file a motion for preliminary approval until June 27, 2025. ECF Nos. 58-59. Plaintiff Gera represents that she has standing to pursue the claims asserted in the Gera Action as a result of having held shares of Opendoor stock continuously from June 18, 2020, through the date of this Stipulation\u2019s execution. 2. The Delaware Chancery Action On March 1, 2023, Plaintiff Carlson filed his Verified Shareholder Derivative Complaint in the District of Arizona, alleging claims under Section 10(b) of the Exchange Act and for breach of fiduciary duty, gross mismanagement, unjust enrichment, aiding and abetting, and waste of corporate assets against certain of the Individual Defendants. On March 15, 2023, Plaintiff Van Dorn filed his Verified Shareholder Derivative Complaint in the District of Arizona, alleging claims under Section 10(b) of the Exchange Act and for breach of fiduciary duty, gross mismanagement, and unjust enrichment against certain of the Individual Defendants. On March 17, 2023, Plaintiffs Carlson and Van Dorn filed a Stipulation to Consolidate both cases and appoint their respective firms co-lead counsel. See Case No. CV-23-00367- PHX-GMS, ECF No. 5. On March 21, 2023, the Court entered an order consolidating the two cases and appointing Rigrodsky Law P.A. and Gainey McKenna & Egleston co-lead counsel in the consolidated derivative matter. See Case No. CV-23-00367-PHX-GMS, ECF No. 6. 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See Case No. CV-23-00367-PHX-GMS, ECF No. 18. On May 16, 2023, the Court denied the request to stay. See Case No. CV-23-00367- PHX-GMS, ECF No. 19. On June 22, 2023, Plaintiffs Carlson and Van Dorn agreed to voluntarily dismiss their consolidated derivative action and refile in the Court of Chancery of the State of Delaware (the \u201cDelaware Court of Chancery\u201d) pursuant to the Company\u2019s forum selection clause with the agreement that they would receive certain of the Company\u2019s internal books and records. See Case No. CV-23-00367-PHX-GMS, ECF No. 22. On June 22, 2023, Plaintiffs Carlson and Van Dorn filed their stockholder derivative actions on behalf of Opendoor against certain of the Individual Defendants, asserting claims for breach of fiduciary duty, unjust enrichment, aiding and abetting breaches of fiduciary duties, and waste of corporate assets in the Delaware Court of Chancery. See Carlson v. Rice, et al., C.A. No. 2023-0642 (Del. Ch.) and Van Dorn v. Rice, et al., C.A. No. 2023-0643 (Del. Ch.). On July 13, 2023, the Delaware Court of Chancery entered an order granting a joint stipulation submitted by the parties to both actions, to consolidate the actions and to stay the Delaware Chancery Action in deference to proceedings in a related securities class action captioned In re Opendoor Technologies Inc. Securities Litigation, No. CV-22- 01717-PHX- MTL pending in the Court (the \u201cSecurities Class Action\u201d). See Delaware Chancery Action, Dkt. Nos. 92109718, 92127514. On January 16, 2025, the Delaware Court of Chancery scheduled the Delaware Chancery Action for a calendar call for April 14, 2025, to explain the lack of substantive activity in the action during the one-year period pre-dating the Delaware Chancery Court\u2019s letter notice. Id. at 97439618. On April 3, 2025, Co-Lead Counsel for plaintiffs in the Delaware Chancery Action submitted a letter on behalf of the parties informing the Delaware Court of Chancery that the Delaware Chancery Action is part of a proposed global settlement- Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 6 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b15", + "block_sequence": 15, + "block_sha256": "981753b5f1b59392d373de112ee9ec4372bf6f523e8b7551d2ce856c4184e0b3", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 15, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "3aeddec5f32bf5ff08eb76e3b4d8fddf2c888319015cebf93432cd13ba1aabaf", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof006.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b16", + "block_sequence": 16, + "block_sha256": "40f822b1bfc08ba8c4fdba1fa3006928ef4ae43f27f27934fa316fbdbfd25ea2", + "block_type": "paragraph", + "char_count": 2272, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 16, + "char_end": 2272, + "char_start": 0, + "fragment_sha256": "a8ca776b04b0a3bba287df66b227894da8828ba0d888d38f3bb6502dbde64a76", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 6 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 in-principle to be presented for approval in the Gera Action and requested vacatur of the letter requiring appearance at the call of the calendar. Id. at 98138064. 3. The Juul and Woods Actions On June 29, 2023, Plaintiff Juul filed a Verified Shareholder Derivative Complaint on behalf of Opendoor against certain of the Individual Defendants, asserting claims for breach of fiduciary duty, unjust enrichment, gross mismanagement, aiding and abetting breach of fiduciary duty, waste of corporate assets, and claims under Section 10(b) of the Exchange Act in the United States District Court for the District of Delaware (\u201cDistrict of Delaware\u201d). See Juul Action, ECF No.1. On July 14, 2023, the parties to the Juul Action filed a Joint Stipulation Regarding Service of Process and Stay of Proceedings and [Proposed] Order. Case No. 1:23-cv-00705- MN, ECF No. 6. Pursuant thereto, the parties agreed to stay proceedings in the Juul Action until the Court issued a ruling on motions to dismiss filed in the Securities Class Action. The District of Delaware so-ordered that stipulation on July 17, 2023. See id., ECF No. 7. On October 13, 2023, Plaintiffs Woods and Stozhyk filed a Verified Shareholder Derivative Complaint on behalf of Opendoor against certain of the Individual Defendants, asserting claims for breach of fiduciary duties, unjust enrichment, aiding and abetting breach of fiduciary duties, waste of corporate assets, and violations of Section 14(a) of the Exchange Act, and seeking contribution under Sections 10(b) and 21D of the Exchange Act against certain Individual Defendants in the District of Delaware. See Woods Action, ECF No.1. On November 14, 2023, the parties to the Woods Action filed a Joint Stipulation Regarding Service of Process and Stay of Proceedings and [Proposed] Order. Case No. 1:23- cv-01158-MN, ECF No. 3. Pursuant thereto, the parties agreed to stay proceedings in the Woods Action until the Court issued a ruling on motions to dismiss filed in the Securities Class Action. The District of Delaware so-ordered that stipulation the same day. Id., ECF No. 4. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 7 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b17", + "block_sequence": 17, + "block_sha256": "0ff67c5b0765ab702129f2e87849e0760061380a412d251e644be9d01935e56b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 17, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "2261773e616c45a2328d845d38fd338f83f86edb384ae9c67875ee7f37f99ad8", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof007.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b18", + "block_sequence": 18, + "block_sha256": "43fce75a97ac21bceaf1b5e1877e834bbe985b68fa341882116b0d6b967b0615", + "block_type": "paragraph", + "char_count": 2338, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 18, + "char_end": 2338, + "char_start": 0, + "fragment_sha256": "0de03be7672d5ebb66fe04e5b11c9621e3e86e5c17ede6ade4a5c7c611ad3a3d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 7 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 B. Settlement Negotiations In late 2024, the Settling Parties discussed the scheduling of a mediation in early 2025, in which Plaintiffs in the Derivative Actions would be invited to participate. In January 2025, Plaintiffs and Defendants formally agreed to mediate the Derivative Actions on February 7, 2025 (the \u201cMediation\u201d) before David Murphy, Esq., an experienced mediator with Phillips ADR Enterprises, (the \u201cMediator\u201d), to attempt to resolve the claims asserted therein. In anticipation of the Mediation, on January 6, 2025, Plaintiff Gera provided Defendants\u2019 Counsel (as defined herein) with a settlement demand that included a comprehensive corporate governance reforms proposal. Plaintiffs Juul, Woods, and Stozhyk also served a settlement demand on Defendants\u2019 Counsel, which also included proposed governance reforms, on January 21, 2025. Plaintiffs Carlson and Van Dorn also made a settlement demand on December 10, 2024, and sent an amended settlement demand incorporating confidential information from the Company\u2019s books and records on December 13, 2024. Defendants also provided Plaintiffs Juul, Woods, and Stozhyk these confidential books and records prior to the Mediation. In early 2025, shortly before the scheduled Mediation, two purported shareholders of Opendoor sent demand letters (\u201cDemands\u201d), asking that the Company litigate substantially similar claims as those made in the Derivative Actions. They have both agreed that the Settlement resolves all potential claims raised by them in the Demands. On February 7, 2025, Plaintiffs\u2019 Counsel and Defendants\u2019 Counsel participated in the full-day Mediation in New York, New York. That day, the Settling Parties made substantial progress towards an agreement in principle on the substantive terms of the settlement, including the corporate governance reforms that Opendoor would adopt as consideration for the settlement as set forth in the term sheet attached hereto as Exhibit A (the \u201cCorporate Governance Reforms\u201d). Thereafter, the Settling Parties continued to engage in good faith settlement negotiations over detailing the terms of the Settlement. On April 25, 2025, the Settling Parties Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 8 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b19", + "block_sequence": 19, + "block_sha256": "2a1d06b2621e5f906f50c2c352bda96dcd51a2139a9254315d2e7c5ecfb59185", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 19, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b7fe1041173212777e2a8f7369c448b6d4f9f9978736fad029d52584e5f91457", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof008.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b20", + "block_sequence": 20, + "block_sha256": "b7ab35f1b637cb358ded3a249088acebe7ece7d583cc0e162d603a076fea772f", + "block_type": "paragraph", + "char_count": 2514, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 20, + "char_end": 2514, + "char_start": 0, + "fragment_sha256": "7fdc1debfe795ea35c8d74a5eaf50f3b8d2689b387f41930bad043b3d505606d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 8 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 formally executed a settlement term sheet that memorialized the material terms of the settlement (the \u201cTerm Sheet\u201d), including the Corporate Governance Reforms that Opendoor agreed to adopt and implement as consideration for the Settlement. After the Settling Parties executed the Term Sheet, and with assistance from the Mediator, the Settling Parties engaged in arm\u2019s length negotiations regarding the attorneys\u2019 fees and expenses to be paid by the Defendants\u2019 insurers to Plaintiffs\u2019 Counsel (defined herein) based upon the substantial benefits conferred upon Opendoor by the Settlement, subject to Court approval. Attorneys\u2019 fees and expenses are not the subject of any agreements between the Settling Parties, other than what is set forth in this Stipulation. II. PLAINTIFFS\u2019 CLAIMS AND THE BENEFITS OF SETTLEMENT Plaintiffs believe that their derivative claims have substantial merit, and Plaintiffs\u2019 entry into this Stipulation is not intended to be and shall not be construed as an admission or concession concerning the relative strength or merit of the claims alleged in the Derivative Actions. However, Plaintiffs and Plaintiffs\u2019 Counsel recognize and acknowledge the significant risk, expense, and length of continued proceedings necessary to prosecute derivative claims against the Individual Defendants and Sponsor through trial and possible appeals. Plaintiffs\u2019 Counsel also have taken into account the uncertain outcome and the risk of any litigation, especially in complex cases such as the Derivative Actions, as well as the difficulties and delays inherent in such litigation. Plaintiffs\u2019 Counsel are also mindful of the inherent problems of establishing demand futility in derivative litigation, and the other possible defenses to the claims alleged in the Derivative Actions. Plaintiffs\u2019 Counsel assert that they have conducted extensive investigation and analysis, including, inter alia: (i) reviewing and analyzing Opendoor\u2019s press releases, public statements, and filings with the SEC; (ii) reviewing and analyzing securities analysts\u2019 reports and advisories and media reports about the Company; (iii) reviewing and analyzing the pleadings contained in the Securities Class Action; (iv) researching the applicable law with respect to the claims alleged in the Derivative Actions and the potential defenses thereto; (v) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 9 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b21", + "block_sequence": 21, + "block_sha256": "509eaa7fd71c52471574b4506882377679e5eee90850668254b7734697489e66", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 21, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "2162513f55bc0ef7ad4e7978d13041db0ed0249dc11c2a7ce04192e826283967", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof009.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b22", + "block_sequence": 22, + "block_sha256": "c35afa3efa4ebb4f226006c95511db355bb0665911c9f403c8af2e0028650572", + "block_type": "paragraph", + "char_count": 2428, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 22, + "char_end": 2428, + "char_start": 0, + "fragment_sha256": "7431bedbc5ad813d7e2f0ebcd5e4efb01d8f7c3ed83f34ace5e7edbcef3bdfba", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 9 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 preparing the complaints in the Derivative Actions and the Amended Complaint in the Gera Action; (vi) preparing briefs in opposition to a request for judicial notice and two motions to dismiss the initial complaint and attending oral argument in the Gera Action; (vii) preparing briefs in opposition to a request for judicial notice and two motions to dismiss the Amended Complaint in the Gera Action; (viii) conducting research into the Company\u2019s corporate governance structure in connection with settlement efforts; (ix) preparing extensive written settlement demands; (x) attending the all-day Mediation and engaging in settlement negotiations with Defendants\u2019 Counsel regarding corporate governance reforms and other issues in an effort to facilitate negotiations; and (xi) negotiating the material terms of the Settlement, and negotiating and drafting the Term Sheet and this Stipulation. Plaintiffs Carlson and Van Dorn were also in possession of certain of the Company\u2019s books and records, which they reviewed and analyzed in anticipation of filing an amended complaint. Based on Plaintiffs\u2019 Counsel\u2019s thorough review and analysis of the relevant facts, allegations, defenses, and controlling legal principles, Plaintiffs\u2019 Counsel believe that the Settlement as set forth in this Stipulation (the \u201cSettlement\u201d) is fair, reasonable, and adequate, and confers substantial benefits upon Opendoor. Based upon Plaintiffs\u2019 Counsel\u2019s evaluation, Plaintiffs have determined that the Settlement is in the best interests of Opendoor and have agreed to settle the Derivative Actions upon the terms and subject to the conditions set forth herein. III. THE INDIVIDUAL DEFENDANTS\u2019 AND SPONSOR\u2019S DENIALS OF WRONGDOING AND LIABILITY The Individual Defendants and Sponsor have denied and continue to deny each and all of the claims and contentions alleged by Plaintiffs in the Derivative Actions. The Individual Defendants and Sponsor have expressly denied and continue to deny all charges of wrongdoing or liability against them arising out of, based upon, or related to, any of the conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Derivative Actions. The Individual Defendants and Sponsor believe that their defenses to all Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 10 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b23", + "block_sequence": 23, + "block_sha256": "092bb29839c424f7db920e36ca0f6ac010988047d1a7c6d1e394dd275e63ee9a", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 23, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ebba1b56358c1cdcfb50d758626dab63d8911e4e6ea1bccfd662a5a05a952f97", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof010.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b24", + "block_sequence": 24, + "block_sha256": "3ead2ac0d6a5db300d5b1e9defb4d6dc3ba1ca46f22ab3ef125a2b46a0441699", + "block_type": "paragraph", + "char_count": 2466, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 24, + "char_end": 2466, + "char_start": 0, + "fragment_sha256": "de100e40196899c4633877891b8dcdc7a467604cd34ffe195577c75a6853c51a", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 10 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 claims in all the Derivative Actions were meritorious. Had the terms of the Stipulation not been reached, Defendants would have continued to contest Plaintiffs\u2019 allegations vigorously. Nonetheless, Defendants recognize and acknowledge the expense and length of continued proceedings necessary to defend against the claims asserted in the Derivative Actions through trial and possible appeal. Defendants have concluded that it is desirable for the Derivative Actions to be fully and finally settled in the matter and upon the terms and conditions set forth in this Stipulation. Defendants have also taken into account the uncertainty and risks inherent in any litigation, especially in complex cases like this. Accordingly, and without admitting the validity of any of the claims asserted in the Derivative Action, Defendants have, therefore, determined that it is in the best interests of Opendoor for the Derivative Actions to be settled in the manner and upon the terms and conditions set forth in this Stipulation. Defendants agree that the Derivative Actions were filed and pursued in good faith and were not frivolous, as set forth herein. Neither this Stipulation, nor any of its terms or provisions, nor entry of the Judgment (as defined herein), nor any document or exhibit referred or attached to this Stipulation, nor any action taken to carry out this Stipulation, is, may be construed as, or may be used as evidence of the validity or infirmity of any of the Released Claims or an admission by or against any Defendant of any fault, wrongdoing, damage, or concession of liability or non-liability whatsoever. IV. TERMS OF STIPULATION AND AGREEMENT OF SETTLEMENT NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, between Plaintiffs and Defendants, by and through their undersigned counsel, in consideration of the benefits flowing to the Settling Parties from the Settlement, and subject to the approval of the Court pursuant to Federal Rule of Civil Procedure 23.1, that the claims asserted in the Derivative Actions and the Released Claims shall be fully, finally, and forever compromised, settled, discharged, relinquished, dismissed, and released, and the Derivative Actions shall be dismissed with prejudice and with full preclusive effect, upon and subject to the terms and Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 11 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b25", + "block_sequence": 25, + "block_sha256": "2adce64c6bdd240eba03bb272aa71c162eb5ff991a7be74a48a9276a292a4f24", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 25, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "111823b8c33d801f5806133a76a0497f0074569413326e9d1785efe12a16a8c4", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof011.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b26", + "block_sequence": 26, + "block_sha256": "51936e5c312cde827f02301c0a02f925bb0d82b7df63e034e7811cc54c5dad0a", + "block_type": "paragraph", + "char_count": 2049, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 26, + "char_end": 2049, + "char_start": 0, + "fragment_sha256": "d716c2bbfc97c607a204285ca3c1d87d522402034be931cf1ae4201127ec9ba6", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 11 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 conditions of this Stipulation, as set forth below. 1. Definitions As used in this Stipulation, the following terms have the meanings specified below: 1.1 \u201cBoard\u201d means the Board of Directors of Opendoor. 1.2 \u201cCorporate Governance Reforms\u201d means the Corporate Governance Reforms set forth in Exhibit A attached hereto, which the Company shall adopt, implement, and maintain, pursuant to and in accordance with this Stipulation. 1.3 \u201cCourt\u201d means the United States District Court for the District of Arizona. 1.4 \u201cCurrent Opendoor Stockholders\u201d means any Person or Persons who are record or beneficial owners of Opendoor stock as of the date of this Stipulation, excluding the Individual Defendants, the officers and directors of Opendoor, members of their immediate families, and their legal representatives, heirs, successors, or assigns, and any entity in which any of the Individual Defendants has or has had a controlling interest. 1.5 \u201cDefendants\u201d means, collectively, nominal defendant Opendoor, the Individual Defendants, and Sponsor. 1.6 \u201cDefendants\u2019 Counsel\u201d means Allen Overy Shearman Sterling US LLP and Womble Bond Dickinson US LLP. 1.7 \u201cDelaware Chancery Action\u201d means the derivative action captioned In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642-PAF, pending in the Delaware Court of Chancery. 1.8 \u201cDerivative Actions\u201d means, collectively, the Gera Action, Delaware Chancery Action, Juul Action, and Woods Action, as respectively defined herein. 1.9 \u201cDemands\u201d means litigation demand letters made to Opendoor that arise from substantially the same underlying facts, conduct, events, occurrences, transactions, or allegations set forth or referred to in the Derivative Actions. 1.10 \u201cEffective Date\u201d means the date by which the events and conditions specified in Section IV, \u00b66.1 of this Stipulation have been met and have occurred. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 12 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b27", + "block_sequence": 27, + "block_sha256": "bf977d887c1b17c48994718901e93cce8d86482bfaf29792d0d5613fde9c22f2", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 27, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "63d91e2aa5016cc815baff4efe873707275e471ab83022b44638b42a205d75cb", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof012.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b28", + "block_sequence": 28, + "block_sha256": "492da0c7dd0d5ec8b72e9dc6b0038e76018cbec520a3e70ecf9141eabcde3bec", + "block_type": "paragraph", + "char_count": 2346, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 28, + "char_end": 2346, + "char_start": 0, + "fragment_sha256": "4f965c079393aad38705f98cda9164514c927dc7d60532c569b2946e341e2447", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 12 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1.11 \u201cFinal\u201d means when the last of the following, with respect to the Judgment approving this Stipulation, substantially in the form of Exhibit D, attached hereto, shall have occurred: (a) the expiration of the time to file a notice of appeal from the Judgment without a notice of appeal having been filed; or (b) if an appeal has been filed, the court of appeal has either affirmed the Judgment or dismissed that appeal and the time for any reconsideration or further appellate review has passed; or (c) if a higher court has granted further appellate review, that court has either affirmed the underlying Judgment or affirmed the court of appeal\u2019s decision affirming the Judgment or dismissing the appeal. For purposes of this paragraph, an \u201cappeal\u201d shall not include any appeal that concerns only the issue of attorneys\u2019 fees and expenses or the payment of service awards to Plaintiffs and Ingrao. Any proceeding or order, or any appeal or petition for review pertaining solely to the application for attorneys\u2019 fees, costs, or expenses, and/or service awards to Plaintiffs and Ingrao shall not in any way delay or preclude the Judgment from becoming Final. 1.12 \u201cGera Action\u201d means the derivative action captioned Gera v. Palihapitiya et al., No. 2:23-cv-02164-MTL, pending in the Court. 1.13 \u201cIndividual Defendants\u201d means defendants Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, and John Rice, each of whom is a defendant in one or more of the Derivative Actions. 1.14 \u201cJudgment\u201d means the Final Order and Judgment to be rendered by the Court upon final approval of the Settlement, substantially in the form attached hereto as Exhibit D. 1.15 \u201cJuul Action\u201d means the derivative action captioned Juul v. Wu et al., No. 1:23- cv-00705-MN, pending in the District of Delaware. 1.16 \u201cNotice\u201d means the Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Actions, substantially in the form attached hereto as Exhibit B-1. 1.17 \u201cOpendoor\u201d or the \u201cCompany\u201d means Opendoor Technologies Inc. and Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 13 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b29", + "block_sequence": 29, + "block_sha256": "015dc1e7c08e5407325d1bee1558f777f3578b8dd0c46c40a4aa4b7c5354a15d", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 29, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "0ec21073ebf20ef7a7f9efc77a81062e1deed20319527f10377f08f0d4b69462", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof013.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b30", + "block_sequence": 30, + "block_sha256": "8ce612108fced26644e40b7599acbfa3a53cbba154fc2742dbf6aae032c3807c", + "block_type": "paragraph", + "char_count": 2386, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 30, + "char_end": 2386, + "char_start": 0, + "fragment_sha256": "77ddc323c9d94d60157ecd638d1e47c6aeee08cb74f3d534141c0c17f75229c7", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 13 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 includes all of its current and former subsidiaries, parent entities, predecessors, successors, affiliates, assigns, officers, directors, employees, and agents. 1.18 \u201cPerson\u201d means an individual, corporation, limited liability company, professional corporation, partnership, limited partnership, limited liability partnership, association, joint venture, joint stock company, estate, legal representative, trust, unincorporated association, government or any political subdivision or agency thereof, and any business or legal entity, and each of their spouses, heirs, predecessors, successors, representatives, or assignees. 1.19 \u201cPlaintiffs\u201d means Samhita Gera, Ryan Carlson, Seth Van Dorn, Tammy Juul, Lori Woods, and Makar Stozhyk, each of whom is a plaintiff in a Derivative Action. 1.20 \u201cPlaintiffs\u2019 Counsel\u201d means The Brown Law Firm, P.C., Gainey McKenna & Egleston, Rigrodsky Law, P.A., The Rosen Law Firm, P.A., and Bragar Eagel & Squire, P.C. 1.21 \u201cPreliminary Approval Order\u201d means the Order to be entered by the Court, substantially in the form attached hereto as Exhibit C. 1.22 \u201cRelated Persons\u201d means each of a Person\u2019s past or present officers, directors, employees, stockholders, members, partners, investors, agents, affiliates, parents, subsidiaries, divisions, departments, attorneys, accountants, auditors, advisors, insurers, co- insurers, reinsurers, spouses, immediate family members, heirs, executors, personal representatives, estates, administrators, trusts, predecessors, successors, and assigns, or other individual or entity in which the Person has a controlling interest, and each and all of their respective past or present officers, directors, employees, stockholders, members, partners, investors, agents, affiliates, parents, subsidiaries, divisions, departments, attorneys, accountants, auditors, underwriters, advisors, insurers, co-insurers, re-insurers, spouses, immediate family members, heirs, executors, personal representatives, estates, administrators, trusts, predecessors, successors, and assigns. 1.23 \u201cReleased Claims\u201d shall collectively mean: (i) any and all claims for relief (including Unknown Claims, as defined herein), actions, suits, claims, debts, disputes, Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 14 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b31", + "block_sequence": 31, + "block_sha256": "493ef55b371ddb6455dcbb840d2aba2ba3b17aab5a19f894b2d64e665b3e44d6", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 31, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "32cba7e3c19e36e59026681856cc346559fc138cff9825d057705c38364cb716", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof014.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b32", + "block_sequence": 32, + "block_sha256": "4b77813c346241cd50b1add83e6cc7be4e12346f8295063b01622bdbbd88dd47", + "block_type": "paragraph", + "char_count": 2499, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 32, + "char_end": 2499, + "char_start": 0, + "fragment_sha256": "6ac1df1e9697cc95539b32ea6faa9567a91fd85cb591f1e1b7be27184ad9465b", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 14 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 demands, rights, liabilities, sums of money due, judgments, matters, issues, charges of any kind (including, but not limited to, any claims for interest, attorneys\u2019 fees, expert or consulting fees, and any other costs, expenses, amounts, or liabilities whatsoever), and claims of relief or causes of action of every nature and description whatsoever, known or unknown, whether or not concealed or hidden, asserted or unasserted, fixed or contingent, accrued or unaccrued, liquidated or unliquidated, at law or in equity, matured or unmatured, foreseen or unforeseen, whether arising under federal or state statutory or common law, or any other law, rule, or regulation, whether foreign or domestic, that were asserted derivatively by Plaintiffs or could have been asserted by Opendoor in the Derivative Actions, or that have been, could have been, or could in the future be, asserted in any forum or proceeding derivatively on behalf of Opendoor by Plaintiffs or any other stockholder of Opendoor, against each and every Defendant and the Released Persons, arising out of, relating to, or based upon the facts, transactions, matters, events, occurrences, acts, disclosures, statements, filings with the United States Securities and Exchange Commission (the \u201cSEC\u201d), practices, sale of stock, omissions, or failures to act that were alleged, identified, or referred to in the complaints filed in the Derivative Actions; and (ii) any claims, known or unknown, in connection with, based upon, arising out of, or relating to the institution, prosecution or Settlement, of the Derivative Actions, but excluding any claims to enforce the Settlement set forth in this Stipulation. 1.24 \u201cReleased Persons\u201d means collectively, Defendants and their respective Related Persons. \u201cReleased Person\u201d means, individually, any of the Released Persons. 1.25 \u201cReleasing Parties\u201d means Plaintiffs, all other Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders), Plaintiffs\u2019 Counsel, and Opendoor. \u201cReleasing Party\u201d means, individually, any of the Releasing Parties. 1.26 \u201cSecurities Class Action\u201d means the securities class action captioned In re Opendoor Technologies Inc. Securities Litigation, No. CV-22- 01717-PHX-MTL, filed in the Court. 1.27 \u201cSettlement\u201d means the settlement and compromise of the claims in the Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 15 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b33", + "block_sequence": 33, + "block_sha256": "0531b8b83d172b1b15b6b2c104dbd031c47499373ffd8b8b499394915325db62", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 33, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "c5fe5f5ba5961a4bb000ba2877dec31d3ffaeab8ce58d295810db1505c341b23", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof015.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b34", + "block_sequence": 34, + "block_sha256": "fe83f7c298b153bb76e03cd46199f4e65fa3bbe726e49c3db7a5146d7d37aa6a", + "block_type": "paragraph", + "char_count": 2265, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 34, + "char_end": 2265, + "char_start": 0, + "fragment_sha256": "0472610d95191a8725d217a99d86e2cbc7321f87c9f96fb6160698bf15862cb5", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 15 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Derivative Actions upon the terms and conditions contained in this Stipulation. 1.28 \u201cSettlement Hearing\u201d means the hearing or hearings at which the Court will review the adequacy, fairness, and reasonableness of the Settlement. 1.29 \u201cSettling Parties\u201d means, collectively, each of the Plaintiffs (on behalf of themselves and derivatively on behalf of Opendoor) and each of the Defendants. \u201cSettling Party\u201d means, individually, any of the Settling Parties. 1.30 \u201cSponsor\u201d means SCH Sponsor II LLC. 1.31 \u201cSummary Notice\u201d means the Summary Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Actions, substantially in the form attached hereto as Exhibit B-2. 1.32 \u201cTerm Sheet\u201d means the Settlement Term Sheet dated April 25, 2025, which sets forth the material terms of the resolution of the Derivative Actions. 1.33 \u201cUnknown Claims\u201d means any Released Claim(s) that Plaintiffs, Opendoor, or a Current Opendoor Stockholder does not know of or suspect to exist in his, her, or its favor at the time of the release of the Released Persons, including claims which, if known by him, her, or it, might have affected his, her, or its settlement with and release of the Released Persons, or might have affected his, her, or its decision not to object to this Settlement. In this regard, with respect to any and all Released Claims, the Settling Parties stipulate and agree that, upon the Effective Date, Plaintiffs, Opendoor, and Current Opendoor Stockholders shall be deemed to have, and by operation of the Judgment shall have, expressly waived, the provisions, rights and benefits conferred by or under California Civil Code section 1542, and any other law of the United States or any state or territory of the United States or any other state, sovereign, or jurisdiction, or any principle of common law that is similar, comparable, or equivalent to section 1542, which provides: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 16 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b35", + "block_sequence": 35, + "block_sha256": "42c7a9e4d1b8932b0d5bb111a471245489200197c3d337e56b192443615f9300", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 35, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "9ebbf574d1b07c6ac0074cf3ce2dd43a59737588abfeb8f9b64065a2446dad03", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof016.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b36", + "block_sequence": 36, + "block_sha256": "cca97b0850dd701b4cfedc7019bc457cbc31af96022913388b0dea9d9f3cbb1e", + "block_type": "paragraph", + "char_count": 2290, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 36, + "char_end": 2290, + "char_start": 0, + "fragment_sha256": "34c7816920ba894154cbf0fbcf7b05ff2854b01b88c33b3cd41d58ccc89cf992", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 16 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY. Plaintiffs and Opendoor acknowledge, and each Current Opendoor Stockholder is deemed to acknowledge, that they may hereafter discover facts in addition to or different from those which he, she, or it now knows or believes to be true with respect to the subject matter of the Released Claims, but they stipulate and agree that, upon the Effective Date of the Settlement, Plaintiffs, Opendoor, and each Current Opendoor Stockholder shall expressly waive and by operation of the Judgment, shall have, fully, finally, and forever compromised, settled, released, discharged, and extinguished any and all Released Claims, known or unknown, suspected or unsuspected, contingent or non-contingent, accrued or unaccrued, apparent or unapparent, whether or not concealed or hidden, which now exist, or heretofore have existed, or may hereafter exist upon any theory of law or equity now existing or coming into existence in the future, including, but not limited to, conduct that is negligent, intentional, with or without malice, or a breach of any duty, law, or rule, without regard to the subsequent discovery of additional or different facts. The Settling Parties acknowledge, and Current Opendoor Stockholders shall be deemed by operation of the Judgment to have acknowledged, that the foregoing waiver was separately bargained for and is a key element of this Stipulation of which this release is a part. 1.34 \u201cWoods Action\u201d means the derivative action captioned Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN, pending in the District of Delaware. 2. Terms of the Settlement 2.1 Within ninety (90) days of the date that the Court enters the Judgment, unless an alternative timeline is provided in the Corporate Governance Reforms, Opendoor shall adopt the Corporate Governance Reforms identified in Exhibit A attached hereto, subject to the terms of this Stipulation, and maintain the Corporate Governance Reforms for four (4) years thereafter, subject to the terms of this Stipulation. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 17 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b37", + "block_sequence": 37, + "block_sha256": "3c789ed20adab8804bd0400d9ff3888163dd79c7a28105cac9e36010e99280fc", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 37, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "9a51c8152f091f3206df8ed72f593cb562d630a38549ac09206b30785a8fdf08", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof017.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b38", + "block_sequence": 38, + "block_sha256": "5017231846deed1b2839a23b41740c458daf36bcca206abbb3cdf339d2b28da9", + "block_type": "paragraph", + "char_count": 2411, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 38, + "char_end": 2411, + "char_start": 0, + "fragment_sha256": "8f692bc0e0da47f4655df712c23d9a3425825946f5d07dc949dbd01b13c12619", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 17 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2.2 Opendoor acknowledges and agrees that the filing, pendency, and settlement of the Derivative Actions was the cause of the Company\u2019s decision to adopt, implement, and maintain the Corporate Governance Reforms. 2.3 Opendoor also acknowledges and agrees that the Corporate Governance Reforms confer substantial benefits to Opendoor and Opendoor\u2019s stockholders. 2.4. All of the Corporate Governance Reforms shall be fully and faithfully adopted and implemented, provided, however, that a majority of the members of the Board may, subject to the requirements set forth in this paragraph, amend or eliminate any one or more of the Corporate Governance Reforms if the Board determines in a good faith exercise of the Board members\u2019 business judgment that the implementation or maintenance of such Corporate Governance Reform(s) would be contrary to any applicable laws or regulations, including the Board\u2019s fiduciary duties. In such event, the independent directors of the Board, to the extent their fiduciary obligations allow based upon their good faith exercise of business judgment, shall as soon as practicable adopt an amended or substitute reform that in the view of such independent directors address similar goals, purposes, and/or functions as the original Corporate Governance Reform(s) and shall give notice to Plaintiffs\u2019 Counsel of such amendment, substitution, and/or elimination. For the sake of clarity, nothing herein precludes the Board in its good faith exercise of its fiduciary obligations from establishing functions or roles within Opendoor or the Board, or from implementing amendments or modifications to provisions of the policies and procedures addressed by the Corporate Governance Reforms, to the extent such functions, roles, amendments or modifications do not conflict with the changes implemented by the Corporate Governance Reforms. 3. Notice 3.1 As soon as practicable, counsel for Plaintiff Gera shall submit this Stipulation together with its exhibits to the Court and shall apply for entry of the Preliminary Approval Order, substantially in the form of Exhibit B attached hereto, requesting: (a) preliminary approval of the Settlement set forth in this Stipulation; (b) approval of the form and manner Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 18 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b39", + "block_sequence": 39, + "block_sha256": "385955fca2a1704fd10c4a1b574add9f283ef2a13e8ce777b7601ec069239b5f", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 39, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b7029eb6502a9212ea38e996e0eaad7f55b47c253401d794b1538cd74bb16029", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof018.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b40", + "block_sequence": 40, + "block_sha256": "2ca836b09c95b4930e1649de5b0607bf9ddbbb32ee7077e5ce440cf99ccef163", + "block_type": "paragraph", + "char_count": 2340, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 40, + "char_end": 2340, + "char_start": 0, + "fragment_sha256": "8d28a3bef321bb6d9dadbd6d95795503cc9969ec145faf87c2268e61badde5aa", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 18 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 of providing notice of the Settlement to Current Opendoor Stockholders; and (c) a date for the Settlement Hearing. 3.2 Within twenty-one (21) days following the Court\u2019s preliminary approval of the Settlement, Opendoor shall cause (a) the Summary Notice to be published one time in the Investor\u2019s Business Daily, (b) the Notice to be filed in a Form 8-K with the SEC together with this Stipulation (including exhibits hereto), and (c) the Notice together with this Stipulation (including exhibits hereto) to be posted on the investor relations page of Opendoor\u2019s website through the date of the Settlement Hearing. The Notice and Summary Notice shall each contain a link to the investor relations page of Opendoor\u2019s website at which the Notice together with this Stipulation (including exhibits hereto) are posted. Opendoor shall pay the costs of providing such notice of the Settlement, or of any other notice that may otherwise be ordered by the Court. 3.3 The Settling Parties believe that the content and manner of the notice of the Settlement, as set forth in this Stipulation, constitutes adequate and reasonable notice to Current Opendoor Stockholders pursuant to applicable law and due process requirements. No later than thirty (30) days following entry of the Preliminary Approval Order, Defendants\u2019 Counsel shall file with the Court an appropriate affidavit or declaration attesting to the filing, publishing, and posting of the notice of the Settlement. 3.4 Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs, and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the Settlement itself. 4. Plaintiffs\u2019 Counsel\u2019s Attorneys\u2019 Fees and Reimbursement of Expenses 4.1 After negotiating the material terms of the Settlement and after executing the Term Sheet, the Settling Parties, with the aid of the Mediator, initiated arm\u2019s length negotiations in good faith over the amount of attorneys\u2019 fees and expenses to be paid to Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 19 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b41", + "block_sequence": 41, + "block_sha256": "12664233cfb6aa1b909f7a06b744c2b35a49c401ffc3f5c630374c3f6f34bd85", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 41, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d7c68e500edabee380f03fd039c5650e7bda240f9045ad1ea4d8fc6cd533bd15", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof019.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b42", + "block_sequence": 42, + "block_sha256": "dd85715cf90c45993f2087448b78e25f21c00215cb4f2bfc876c733f9e8822d1", + "block_type": "paragraph", + "char_count": 2419, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 42, + "char_end": 2419, + "char_start": 0, + "fragment_sha256": "0f01643613c690bd4bf4774e46721f91848f18fef78564a42a63b068491f5f42", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 19 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Plaintiffs\u2019 Counsel by the Defendants\u2019 insurers based upon the substantial benefits conferred upon Opendoor by the Settlement, subject to Court approval (the \u201cFee and Expense Amount\u201d). 4.2 Based upon the substantial benefits conferred upon Opendoor by the Corporate Governance Reforms, and with the assistance of the Mediator, the Settling Parties have agreed upon a Fee and Expense Amount of $1.95 million, which amount shall be paid by the Defendants\u2019 insurers to the escrow account established by The Brown Law Firm, P.C. at Huntington Bank, to which signatories will be The Brown Law Firm, P.C., either Rigrodsky Law, P.A. or Gainey McKenna & Egleston, and either Bragar Eagel & Squire, P.C. or The Rosen Law Firm, P.A. (\u201cEscrow Account\u201d), within thirty (30) business days following the later of (a) the Court\u2019s entry of the Preliminary Approval Order or (b) the transmission to Defendants\u2019 Counsel of payee information for that account, including the tax identification number, and Form W-9. Plaintiffs\u2019 Counsel shall make no request to the Court for (and hereby release any right they may otherwise have to seek) attorneys\u2019 fees and/or costs beyond the Fee and Expense Amount agreed upon by the Settling Parties. Any Fee and Expense Amount awarded by the Court and set forth in the Judgment is referred to herein as the \u201cFee and Expense Award.\u201d 4.3 Plaintiffs\u2019 Counsel shall be solely responsible for any administrative costs associated with the Escrow Account as well as the filing of all informational and other tax returns with the Internal Revenue Service, or any other state or local taxing authority, as may be necessary or appropriate. Neither Defendants nor Defendants\u2019 Counsel shall have responsibility for, nor bear any risk or liability with respect to, the Escrow Account, its operation, and any taxes or expenses incurred in connection with the Escrow Account. The Fee and Expense Award shall be released to Plaintiffs\u2019 Counsel from the Escrow Account once the Court enters a final order approving the Stipulation, the Judgment, and the Fee and Expense Award, notwithstanding any objections thereto, potential appeal therefrom, or collateral attack on the Settlement. If for whatever reason the Judgment does not become final, Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 20 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b43", + "block_sequence": 43, + "block_sha256": "8125bfa40abbf87341bff37d5e9cc246a99633d3e4a71b9207e6586c7ea09459", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 43, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "def2e0ded5c8d78e4f4e42843b78d8371fba2d34cc8e468bf492efb0a892b66a", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof020.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b44", + "block_sequence": 44, + "block_sha256": "3b72b609ccf9afefc644fe01e789f2d78e056a0cbfae8be153fdc9a22d445020", + "block_type": "paragraph", + "char_count": 2263, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 44, + "char_end": 2263, + "char_start": 0, + "fragment_sha256": "c3c05efa5fb89fd45089396a58324f13d507af3ffdc16a114f77b288993ad500", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 20 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 the Court does not award the Fee and Expense Amount in full, or if the Fee and Expense Award is reduced following any appeal, Plaintiffs\u2019 Counsel are severally obligated to refund the corresponding amount of fees and expenses to the payors within thirty (30) days of such order. 4.4 Plaintiffs and Ingrao may apply to the Court for reasonable service awards for each of the Plaintiffs and Ingrao in the amount of up to two thousand five hundred dollars ($2,500) each (the \u201cService Awards\u201d), only to be paid upon Court approval, and to be paid out of the Fee and Expense Award, in recognition of Plaintiffs\u2019 and Ingrao\u2019s participation and effort in the prosecution and settlement of the Derivative Actions and Ingrao\u2019s demand. Defendants will not object to Plaintiffs\u2019 and Ingrao\u2019s application to the Court for the Service Awards. 4.5 Defendants and Defendants\u2019 Counsel are not responsible for the allocation of the Fee and Expense Award amongst Plaintiffs\u2019 Counsel and/or counsel for Raymond or Ingrao. Plaintiffs\u2019 Counsel shall allocate the Fee and Expense Award among themselves. Plaintiffs\u2019 Counsel agree that any disputes regarding the allocation of the Fee and Expense Award among them shall be presented to and be mediated, and, if necessary, finally decided and resolved by the Mediator. The Mediator\u2019s fees and costs for any such mediation and/or arbitration shall be borne solely by Plaintiffs\u2019 Counsel, and allocated among Plaintiffs\u2019 Counsel by agreement or as finally determined by the Mediator. 4.6 The payment of the Fee and Expense Award shall constitute final and complete payment for Plaintiffs\u2019 attorneys\u2019 fees and expenses that have been incurred or will be incurred in connection with the Derivative Actions. Defendants shall have no obligation to make any payment to counsel for Raymond or Ingrao, or to any Plaintiffs\u2019 Counsel other than as provided herein. 4.7 Except as otherwise provided herein or except as provided pursuant to indemnification or insurance rights, each of the Settling Parties shall bear his, her, or its own costs, expenses, and attorneys\u2019 fees. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 21 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b45", + "block_sequence": 45, + "block_sha256": "90c961063bc626538da6885316742c8b13a7e49ac7cc724d4e7d8204c704b0c6", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 45, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "9695719b42e299489c90a72ac53b1c7f8debae18491fc4131f8405c4f7823635", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof021.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b46", + "block_sequence": 46, + "block_sha256": "aa0b058cb04ac883c43e671643bdcd55e8ebaadc41b8f47de97963dca78a0702", + "block_type": "paragraph", + "char_count": 2286, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 46, + "char_end": 2286, + "char_start": 0, + "fragment_sha256": "48b369a95cba5f93b7531049aa573460e08fba18af3e05e993eed321d445927b", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 21 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 5. Releases 5.1 Upon the Effective Date, Plaintiffs in each of the Derivative Actions, other than Plaintiff Gera in the Gera Action, shall file appropriate papers with the District of Delaware or Delaware Court of Chancery, as appropriate, to voluntarily dismiss their respective Derivative Actions with prejudice. 5.2 Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be deemed to have, and by operation of the Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons, including any and all claims (including Unknown Claims) against the Released Persons arising out of, relating to, or in connection with the defense, Settlement, or resolution of the Derivative Actions. 5.3 Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of this Stipulation. 5.4 Upon the Effective Date, Opendoor shall be deemed to have, and by operation of the Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons. 5.5 Upon the Effective Date, Opendoor shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 22 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b47", + "block_sequence": 47, + "block_sha256": "6f5315644835297be51427549b42a27391ee5ee957955f1ce434a840f9afe0ef", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 47, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "3eedb6073bf3a578889b2e7df5f77011094a6d8aac3216962f15a9859c37e4b1", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof022.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b48", + "block_sequence": 48, + "block_sha256": "77a331c2f9885579429064ac7be1b4fc1474a8c5418ec33c2867acc8497cc15d", + "block_type": "paragraph", + "char_count": 2165, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 48, + "char_end": 2165, + "char_start": 0, + "fragment_sha256": "4be121e6dcee1039710cec4c4c2964c4796ce364e93fcbd08ef065738c5f0470", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 22 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims or the filing, prosecution, defense, settlement, or resolution of the Derivative Actions. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of this Stipulation. 5.6 Upon the Effective Date, each of the Released Persons shall be deemed to have fully, finally, and forever released, relinquished, and discharged Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons from all claims (including Unknown Claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims. 5.7 Upon the Effective Date, each of the Released Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting all claims (including Unknown Claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims, or any action or other proceeding against any Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of this Stipulation. 6. Conditions of Settlement; Effect of Disapproval, Cancellation, or Termination 6.1 The Settlement shall be conditioned on the occurrence of all of the following events: a. Board approval of the Settlement, including the Corporate Governance Reforms set forth in Exhibit A; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 23 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b49", + "block_sequence": 49, + "block_sha256": "0e239eefb65b89eb59188b83d8d269c12b663bd176926c7d4fbf886d0d08b610", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 49, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "9506ac3c5bcac2a22cb6192720bdff2468d7e86d053879cf0d455fedaeccd007", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof023.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b50", + "block_sequence": 50, + "block_sha256": "42c3c64536ba12bd390b1494b6bf2f95d170822b0a8b848c5f8279d97332d894", + "block_type": "paragraph", + "char_count": 2262, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 50, + "char_end": 2262, + "char_start": 0, + "fragment_sha256": "ebb7c79c78cf16157d471ce33094c9b4ef968abee07273a76071f47fc3b46146", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 23 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 b. The entry of the Preliminary Approval Order, in substantially the form attached hereto as Exhibit C hereto; c. Court approval of the Settlement, following dissemination of the Notice and the Settlement Hearing, in accordance with the Preliminary Approval Order; d. The payment by Defendants\u2019 Insurers of the Fee and Expense Amount in accordance with Section IV, supra. For the avoidance of doubt, the Settlement is not conditioned on the Court granting a Fee and Expense Award equal to the Fee and Expense Amount; e. entry of the Judgment, in substantially in the form set forth as Exhibit D annexed hereto; and f. the Judgment becomes Final. 6.2 If any of the conditions specified above in Paragraph 6.1 are not met, then this Stipulation shall be deemed canceled and terminated, unless counsel for the Settling Parties mutually agree in writing to proceed with this Stipulation. 6.3 If for any reason the Effective Date does not occur, or if this Stipulation is in any way canceled, terminated, or fails to become Final in accordance with its terms: (a) the Term Sheet shall be rendered null and void and of no force and effect; (b) the Settling Parties shall be restored to their respective positions in the Derivative Actions as of the date of this Stipulation; (c) any Fee and Expense Amount paid to Plaintiffs\u2019 Counsel shall be refunded and returned to the payors within thirty (30) days; (d) the terms and provisions of this Stipulation (other than those forth in Section IV, Paragraphs 1.1-1.34, 4.3, 6.2-6.3, 7.4-7.14) shall have no further force or effect with respect to the Settling Parties and shall not be deemed or construed to be an admission of any act, matter, or proposition, and shall not be used in the Derivative Actions or any other proceeding for any purpose; and (e) all negotiations, proceedings, documents prepared, and statements made in connection herewith shall be without prejudice to the Settling Parties, shall not be deemed or construed to be an admission by a Settling Party of any act, matter, or proposition, and shall not be used in any manner for Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 24 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b51", + "block_sequence": 51, + "block_sha256": "a8dfd746b232258363187a63e1fcbaac4df03f9b90f69b64fcc835e59bcb7873", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 51, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "f2518462670cb5d30e750954a8c41fbedc093d32b963f2967c5d76cee2d0de42", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof024.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b52", + "block_sequence": 52, + "block_sha256": "c2781c90d0ecdca9885c78b7460f44dcd13103e50e50ca8fb4c9bc48e7b73f60", + "block_type": "paragraph", + "char_count": 2318, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 52, + "char_end": 2318, + "char_start": 0, + "fragment_sha256": "afe96436daef8eff5f64c9ae545a76c588abca13f6f98211703587b5e2b6551c", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 24 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 any purpose (other than to enforce the terms remaining in effect) in the Derivative Actions or in any other action or proceeding. In such event, any Judgment or other order entered in accordance with the terms of this Stipulation shall be treated as vacated. 6.4 No order of the Court, modification, or reversal on appeal of any order of the Court concerning the amount of attorneys\u2019 fees, costs, expenses, and interest to paid to Plaintiffs\u2019 Counsel and/or counsel for Raymond or Ingrao or the amount of service awards to be paid to Plaintiffs and Ingrao shall constitute grounds for cancellation or termination of the Stipulation, affect the enforceability of the Stipulation, or delay or preclude the Judgment from becoming Final. 7. Miscellaneous Provisions 7.1 The Settling Parties: (a) acknowledge that it is their intent to consummate this Stipulation; and (b) agree to act in good faith and cooperate to take all reasonable and necessary steps to expeditiously implement the terms and conditions of this Stipulation. 7.2 The Settling Parties intend this Settlement to be a final and complete resolution of all disputes between Plaintiffs and Opendoor and its stockholders, on the one hand, and the Released Persons, on the other hand, arising out of, based upon, or related to the Released Claims. 7.3 The Settlement compromises claims that are contested and shall not be deemed an admission by any Settling Party as to the merits of any claim, allegation, or defense. The Settling Parties agree that the Settling Parties and their respective counsel at all times during the course of the Derivative Actions have complied with the requirements of good faith litigation, including, without limitation, Fed. R. Civ. P. 11 and all other similar laws and/or rules governing professional conduct. The Settling Parties agree that the claims are being settled voluntarily after consultation with competent legal counsel and shall not take the position that the Derivative Actions were brought or defended in bad faith or in violation of Fed. R. Civ. P. 11. 7.4 Neither the Settlement, this Stipulation (including any exhibits attached hereto), Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 25 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b53", + "block_sequence": 53, + "block_sha256": "da4955568b5383ed16a0bad7d8b4894b30a7f6ab03fe9941dcff380a5a515165", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 53, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "5e5e12bfd3b0d2172533cbc6a953f56f64c270b4d1fb12e3143e5adc9081fa3f", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof025.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b54", + "block_sequence": 54, + "block_sha256": "ce95bbfbe192fc431e081b6bb18cfbca0b33158afed26846e0c5d3fb2f3e2753", + "block_type": "paragraph", + "char_count": 2455, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 54, + "char_end": 2455, + "char_start": 0, + "fragment_sha256": "33fe20b6552ec5ad4313a4bd4b835ee523c63e886902a2c78e64bb72164652a4", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 25 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 nor any act performed or document executed pursuant to or in furtherance of the Stipulation or Settlement: (a) is or may be deemed to be or may be offered, attempted to be offered, or used in any way as a presumption, a concession, admission, or evidence of the validity or infirmity of any Released Claims, or of any fault, wrongdoing or liability of the Released Persons; (b) is, may be deemed to be, or may be used as a presumption, concession, admission, or evidence of any liability, fault, or omission of any of the Released Persons in any civil, criminal, or administrative, or other proceeding in any court, administrative agency, tribunal, or other forum; or (c) is or may be deemed an admission by any Settling Party as to the merits or lack thereof of any claim, allegation, or defense. 7.5 Neither this Stipulation nor the Settlement, nor any act performed or document executed pursuant to or in furtherance of this Stipulation or the Settlement, shall be admissible in any proceeding for any purpose, except to enforce the terms of the Settlement in court, and except that the Released Persons may file or use the Stipulation, the Preliminary Approval Order, and/or the Judgment in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, standing, judgment bar, or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 7.6 This Stipulation may be modified or amended only by a written instrument signed by, or on behalf of, each of the Settling Parties or their respective successors-in- interest. 7.7 In construing this Stipulation, no presumption shall be made against any Settling Party on the basis that it was a drafter of this Stipulation. 7.8 The Stipulation and the exhibits attached hereto constitute the entire agreement between the Settling Parties, and no representations, warranties, or inducements have been made to any Settling Party concerning this Stipulation or any of its exhibits other than the representations, warranties, and covenants contained and memorialized in such documents. The Stipulation supersedes and replaces the Term Sheet and any prior or contemporaneous Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 26 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b55", + "block_sequence": 55, + "block_sha256": "531357d686a01a797ff57663412638903bce39dd0f74671321ee78570f41021b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 55, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "f0c29a75a6c028f401605cc0ee1b54f8d6d77151ba1111365b6d34e028a271ea", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof026.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b56", + "block_sequence": 56, + "block_sha256": "daff769beb02f918a235fe3d958352a68faa020d80134875ded767de5f1ded06", + "block_type": "paragraph", + "char_count": 2452, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 56, + "char_end": 2452, + "char_start": 0, + "fragment_sha256": "61734e74c4d23b67a011be0c51b3366dc429f0557c66fb34603ee2824ed74459", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 26 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 writing, statement, or understanding pertaining to the Derivative Actions, and no parole or other evidence may be offered to explain, construe, contradict, or clarify its terms, the intent of the Settling Parties or their counsel, or the circumstances under which the Stipulation was made or executed. It is understood by the Settling Parties that, except for matters expressly represented herein, the facts or law with respect to which this Stipulation is entered into may turn out to be other than or different from the facts now known to each party or believed by such party to be true; each party therefore expressly assumes the risk of facts or law turning out to be different, and agrees that this Stipulation shall be in all respects effective and not subject to termination by reason of any such different facts or law. 7.9 The exhibits to this Stipulation are material and integral parts hereof and are fully incorporated herein by this reference. 7.10 In the event that there exists a conflict or inconsistency between the terms of this Stipulation and the terms of any exhibit hereto, the terms of this Stipulation shall prevail. 7.11 This Stipulation may be executed in one or more counterparts, including by signature transmitted electronically, by facsimile, or by e-mailed PDF files. Each counterpart, when so executed, shall be deemed to be an original, and all such counterparts together shall constitute the same instrument. 7.12 This Stipulation and the Settlement shall be binding upon, and inure to the benefit of, the successors and assigns of the Settling Parties and Released Persons. 7.13 This Stipulation shall be considered to have been negotiated, executed, and delivered, and to be wholly performed, in the State of Arizona, and the rights and obligations of the parties to this Stipulation shall be construed and enforced in accordance with, and governed by, the internal, substantive laws of the State of Arizona without giving effect to that state\u2019s choice of law principles. 7.14 Without affecting the finality of the Judgment entered in accordance with this Stipulation, the Court shall retain jurisdiction to implement and enforce the terms of the Stipulation and the Judgment and to consider any matters or disputes arising out of or relating Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 27 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b57", + "block_sequence": 57, + "block_sha256": "bfd353257febfb2c1498de1abb97985f2125588258e175a41bc5f12d4f4f6d4e", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 57, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "07bd52a21dcca5982b0ec59446a7f2953602b799d6a3a95e0c60a65befbd0788", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof027.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b58", + "block_sequence": 58, + "block_sha256": "3b948200852c7d7b76762fddc5809e7148db1bb4295901776c9200cc59561f59", + "block_type": "paragraph", + "char_count": 2053, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 58, + "char_end": 2053, + "char_start": 0, + "fragment_sha256": "9d630e83db8af4145f3ad6ca79cce60da0c5633f34005f52370cd5050a22bd91", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 27 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 to the Settlement, and the Settling Parties submit to the jurisdiction of the Court for purposes of implementing and enforcing the Settlement embodied in the Stipulation and Judgment, and for matters or disputes arising out of or relating to the Settlement. 7.15 Any planned, proposed, or actual sale, merger, or change-in-control of Opendoor shall not void this Stipulation. The Stipulation shall run to the Settling Parties\u2019 respective successors-in-interest. In the event of a planned, proposed, or actual sale, merger, or change-in-control of Opendoor, the Settling Parties shall continue to seek court approval of the Settlement expeditiously, including, but not limited to, the Settlement terms reflected in this Stipulation. 7.16 In the event any proceedings by or on behalf of Opendoor, whether voluntary or involuntary, are initiated under any chapter of the United States Bankruptcy Code, including an act of receivership, asset seizure, or similar federal or state law action (\u201cBankruptcy Proceedings\u201d), the Settling Parties agree to use their reasonable best efforts to obtain all necessary orders, consents, releases, and approvals for effectuation of this Stipulation in a timely and expeditious manner. In the event of any Bankruptcy Proceedings by or on behalf of Opendoor, the Settling Parties agree that all dates and deadlines set forth herein will be extended for such periods of time as are necessary to obtain necessary orders, consents, releases, and approvals from the bankruptcy court to carry out the terms and conditions of the Stipulation. 7.17 After prior notice to the Court, but without further order of the Court, the Settling Parties may agree to reasonable extensions of time to carry out any provisions of this Stipulation. IN WITNESS WHEREOF, the Settling Parties have caused this Stipulation to be executed by their duly authorized attorneys. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 28 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b59", + "block_sequence": 59, + "block_sha256": "bd0e14974a730df72617c77a10ac859bf3d42b82391e1102e5818976c6ead774", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 59, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ba43e5142841de8fe8e4cf761d6c8c0c81106711690765deb902b6dc7f3d0e1c", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof028.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b60", + "block_sequence": 60, + "block_sha256": "a84932650f157ee37e883cdd6bcdff452dd64bb3fbdc5eb4e0e60979bec81ae0", + "block_type": "paragraph", + "char_count": 1306, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 60, + "char_end": 1306, + "char_start": 0, + "fragment_sha256": "4f6b3cd05201139202a6a0708c82a0221ac29ff2040fb0733e8bc60e35651d78", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 28 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Agreed to this 27 day of June, 2025: THE BROWN LAW FIRM, P.C. By: /s/ Timothy Brown Timothy Brown Saadia Hashmi Elizabeth Donohoe 767 Third Avenue, Suite 2501 New York, NY 10017 Telephone: 516-922-5427 Email: tbrown@thebrownlawfirm.net shashmi@thebrownlawfirm.net edonohoe@thebrownlawfirm.net Counsel for Plaintiff Samhita Gera GAINEY MCKENNA & EGLESTON By: /s/ Gregory M. Egleston Thomas J. McKenna Gregory M. Egleston 260 Madison Avenue, 22nd Floor New York, NY 10016 Telephone: 212-983-1300 Email: tjmckenna@gme-law.com egleston@gme-law.com Counsel for Plaintiffs Ryan Carlson and Seth Van Dorn ALLEN OVERY SHEARMAN STERLING US LLP By: /s/ Lyle Roberts Lyle Roberts 1101 New York Avenue, N.W. Washington, DC 20005 Telephone: 202-508-8000 Email: lyle.roberts@aoshearman.com Counsel for Nominal Defendant Opendoor Technologies Inc., the Individual Defendants, and Sponsor RIGRODSKY LAW, P.A. By: /s/ Timothy J. MacFall Seth D. Rigrodsky Timothy J. MacFall 825 East Gate Boulevard, Suite 300 Garden City, NY 11530 Telephone: 516-683-3516 Email: sdr@rl-legal.com tjm@rl-legal.com Counsel for Plaintiffs Ryan Carlson and Seth Van Dorn Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 29 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b61", + "block_sequence": 61, + "block_sha256": "01776b191764715837456cd417f5db6773c79cc4a436aee5e09d75352cdf7c31", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 61, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a4332e06444dc633191d636ba64545979d2bac34f3241ad5462388979bdcd27e", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof029.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b62", + "block_sequence": 62, + "block_sha256": "42a8aa18e06e90ad39e7244b9938e8a359a751726968a68239f2d2e97f86cdcf", + "block_type": "paragraph", + "char_count": 1091, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 62, + "char_end": 1091, + "char_start": 0, + "fragment_sha256": "3914f8fa5c5fc1ecdc5316306a04cff735b83fe3b63c10a4e59167e9a9586aa6", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "- 29 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 THE ROSEN LAW FIRM, P.A. By: /s/ Erica L. Stone Erica L. Stone Philip Kim Olivia Simkins 275 Madison Avenue, 40th Floor New York, NY 10016 Telephone: 212-686-1060 Email: estone@rosenlegal.com philkim@rosenlegal.com osimkins@rosenlegal.com Counsel for Plaintiff Tammy Juul BRAGAR EAGEL & SQUIRE, P.C. By: /s/ Melissa A. Fortunato Melissa A. Fortunato Lawrence P. Eagel 810 Seventh Avenue, Suite 620 New York, NY 10019 Telephone: 212-308-5858 Email: fortunato@bespc.com eagel@bespc.com Counsel for Plaintiffs Lori Woods and Makar Stozhyk VIK PAWAR LAW PLLC By: /s/ Vikrant Pawar Vikrant Pawar 20 Vesey Street, Suite 1410 New York, NY 10007 Telephone: 212-571-0805 Email: vikrantpawaresq@gmail.com Counsel for Clifford Raymond SHUMAN, GLENN & STECKER By: /s/ Rusty E. Glenn Rusty E. Glenn 600 17th Street Ste. 2800 South Denver, CO 80202 Telephone: 303-861-3003 Email: Rusty@shumanlawfirm.com Counsel for Nicholas Ingrao Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 30 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b63", + "block_sequence": 63, + "block_sha256": "18f20366e51b4f2e616ad3e538ff198fd8964e38c403df424df9d4763895382e", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 63, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d41272d139fc0d4c00013f0f7e1b820ef1fb375784fdf6553254e33e794de369", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof030.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b64", + "block_sequence": 64, + "block_sha256": "488666631929758d17b2d9437928ec7dc8d5d374f30208d6b21ecf251912a547", + "block_type": "paragraph", + "char_count": 1280, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 64, + "char_end": 1280, + "char_start": 0, + "fragment_sha256": "5dc8adeb1e0cee31190c18af1f0d3735f599e19a09363e58e491d5f337f49c06", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MCKAY LAW, LLC Michael C. McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT A CORPORATE GOVERNANCE REFORMS Within ninety (90) calendar days of entry of a final order approving the settlement of the above-captioned action by the United States District Court for the District of Arizona (the \u201cCourt\u201d), Opendoor Technologies Inc. (\u201cOpendoor\u201d or the \u201cCompany\u201d) shall adopt the following Corporate Governance Reforms identified herein, and maintain the same for four Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 31 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b65", + "block_sequence": 65, + "block_sha256": "421508237a2d6805052ce3e702cff07de17137ebc78f2e47daf5f6b54a5ef40f", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 65, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "56dd8f94d00614377ab43ea9791c09237e47652c487daba1d113d0ca1728e6e8", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof031.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b66", + "block_sequence": 66, + "block_sha256": "b98b74af2dde3e906584ed408b1473067f3d5545c767a775c21915a0f8bf3b6a", + "block_type": "paragraph", + "char_count": 1663, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 66, + "char_end": 1663, + "char_start": 0, + "fragment_sha256": "48fbea226d49ae0ce40ced554dc595bea30733a00ee7629c848b01549e0ba4bd", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 (4) years thereafter, subject to the terms of the Stipulation of Settlement dated June 27, 2025 (the \u201cStipulation\u201d).1 Opendoor acknowledges and agrees that the filing, pendency, and settlement of the Derivative Actions was the cause of the Company\u2019s decision to adopt, implement, and maintain the Corporate Governance Reforms. Opendoor also acknowledges and agrees that the Corporate Governance Reforms confer substantial benefits to Opendoor and Opendoor\u2019s stockholders. A. FORMATION BY OPENDOOR OF MANAGEMENT-LEVEL COMPLIANCE COMMITTEE 1. Purpose. Opendoor will form a Compliance Committee to assist the Board of Directors and the Audit and Risk Committee of the Board in overseeing Opendoor\u2019s enterprise-level compliance program with respect to: a. Compliance with the laws and regulations applicable to Opendoor\u2019s business, including the Real Estate Settlement Procedures Act (\u201cRESPA\u201d) and other applicable real estate laws and regulations. b. Compliance with Opendoor\u2019s Code of Business Conduct and Ethics and related policies by employees, officers, directors and other agents and associates. 2. Responsibilities. The Compliance Committee will work to ensure that Opendoor\u2019s compliance program effectively: a. Establishes procedures to monitor and assess compliance with RESPA and applicable real estate laws. b. Prevents and/or detects potential violations of the Code of Business Conduct and Ethics and related policies. 1 All defined terms unless stated otherwise have the meanings set forth in the Stipulation. 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Reports to the Audit and Risk Committee from time to time, or whenever so requested by the Audit and Risk Committee, which will be conducted by the Chair of the Compliance Committee. 3. Membership. The Compliance Committee shall be composed of officers and other employees who are familiar with critical compliance priorities and real estate laws and regulations, including the: a. Chief Legal Officer (Chair) b. Compliance Officer c. Corporate Controller d. Head of Internal Audit e. Director, Product and Commercial. 4. Meetings. The Compliance Committee shall meet at least twice annually, or more frequently as its members deem necessary. B. CREATION BY OPENDOOR OF A HEAD OF INTERNAL AUDIT FUNCTION 1. Opendoor will appoint a Head of Internal Audit that is expected to report directly to the Audit and Risk Committee of the Board of Directors of Opendoor. 2. The responsibilities of the Head of Internal Audit will include: a. Oversight of Opendoor\u2019s Sarbanes-Oxley compliance function, which includes risk assessment and scoping, process documentation and control design tests of business processes that flow directly into Opendoor\u2019s financial statements, including its pricing algorithm, with input and oversight from Opendoor\u2019s external auditor. b. Strengthen Opendoor\u2019s broader internal audit function. c. Preparation and maintenance of an internal audit plan, including developing processes and controls for regularly testing other critical Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 33 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b69", + "block_sequence": 69, + "block_sha256": "47a3143b048bbaea46b086cd78f4fae57a33f52a6a6204b38b9711065c0dcfda", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 69, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "191c5d720e67a4a5ba4b06833a44913cc89e20706f17913baed3ec610c3d4220", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof033.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b70", + "block_sequence": 70, + "block_sha256": "7a2e425426ef72a0be0217342aed9c06aa7cee35b1e0de12b2ffc71697671d16", + "block_type": "paragraph", + "char_count": 1764, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 70, + "char_end": 1764, + "char_start": 0, + "fragment_sha256": "5094c4223eeed4b2c4410479df36def4d329ec715fccecfcca6df321a9a3b1ed", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 product system functions and remediating any discovered issues or related challenges. 3. The Head of Internal Audit will have unrestricted access to the Audit and Risk Committee, as needed, and will keep the Audit and Risk Committee informed of Opendoor's efforts to improve the control environment. 4. Opendoor expects to identify and appoint a Head of Internal Audit within 12 months of the final approval of the Settlement. 5. The charter of the Audit and Risk Committee will be amended after the Head of Internal Audit is appointed to reflect the reporting structure and provide that the Head of Internal Audit will meet with the Committee. C. IMPLEMENTATION BY OPENDOOR OF CORPORATE GOVERNANCE EVALUATION 1. Opendoor will conduct a benchmarking best practices review to compare corporate governance practices against peer companies, as such companies are identified in its proxy statement. The framework of the benchmarking review will consist of the following: a. review will be conducted twice over the course of the next four years b. review will be conducted by Opendoor\u2019s external counsel c. review will be presented to Opendoor\u2019s Chief Legal Officer d. review will analyze Opendoor\u2019s Corporate Governance Guidelines, board committee charters and Code of Conduct e. Opendoor will review and thoughtfully consider the output of the review, including whether any changes are necessary, but Opendoor is not required to implement changes or recommend changes to the Board of Directors f. any actions taken by Opendoor as a result of the review do not have to be made public other than as part of a customary posting Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 34 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b71", + "block_sequence": 71, + "block_sha256": "687e48a5b56e5dd543536c20ddd3976170990d04ddfc877033aa1da41f42dbd1", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 71, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "2cb2062752598f5b8883a83fa283150a2787a952c96dc784aaac5f66c3293604", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof034.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b72", + "block_sequence": 72, + "block_sha256": "208aa1e27a1afaed4818f02c98dbd9d4553780ae534612da3cbc9185f169eacb", + "block_type": "paragraph", + "char_count": 448, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 72, + "char_end": 448, + "char_start": 0, + "fragment_sha256": "813869f6851479860de5633cbffb03b9e63d5d584b90c517841479162c08d131", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 of the associated revised corporate governance documents on Opendoor\u2019s website D. CHANGES TO OPENDOOR CORPORATE GOVERNANCE DOCUMENTS Opendoor will amend certain corporate governance documents in the manner indicated by the redlining in the copies of such documents attached as Exhibits 1 through 5 hereto. 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[_________]NOVEMBER 20, 20254 I. PURPOSE OF THE COMMITTEE The purpose of the Audit and Risk Committee (the \u201cCommittee\u201d) of the Board of Directors (the \u201cBoard\u201d) of Opendoor Technologies Inc. (the \u201cCompany\u201d) is to oversee (i) the integrity of the Company\u2019s financial statements and the Company\u2019s accounting and financial reporting processes and financial statement audits, (ii) the independent auditor\u2019s qualifications, performance and independence, (iii) the Company\u2019s internal controls over financial reporting, including systems of disclosure controls and procedures, (iv) the Company\u2019s compliance with legal and regulatory requirements, and (v) the Company\u2019s risk oversight function with respect to certain risk exposures of the Company. II. COMPOSITION OF THE COMMITTEE The Committee shall consist of three or more independent directors, as determined from time to time by the Board, subject to any available exception. Each member of the Committee shall be qualified to serve on the Committee pursuant to the requirements of the Nasdaq Stock Market LLC (\u201cNasdaq\u201d) and the more rigorous independence rules for members of the audit committee issued by the Securities and Exchange Commission (\u201cSEC\u201d), subject in each case to any applicable exception, and any additional requirements that the Board deems appropriate. Without prior approval of the Board, members of the Committee may not serve on more than three public company audit committees (including the Committee). The chairperson of the Committee shall be designated by the Board, provided that if the Board does not so designate a chairperson, the members of the Committee, by a majority vote, may designate a chairperson. Any vacancy on the Committee may be filled by majority vote of the Board. No member of the Committee shall be removed except by majority vote of the Board. Each member of the Committee must meet the financial literacy requirements of Nasdaq applicable to Committee members as in effect from time to time, when and as required by Nasdaq. In addition, at least one member of the Committee must be designated by the Board to be the \u201caudit committee financial expert,\u201d as defined by the SEC pursuant to the U.S. Sarbanes-Oxley Act of 2002 (the \u201cAct\u201d) and satisfy the applicable Nasdaq financial sophistication requirements as in effect from time to time. III. MEETINGS OF THE COMMITTEE The Committee shall meet as often as it determines necessary to carry out its duties and responsibilities, but no less frequently than once every fiscal quarter. The Committee, in its discretion, may ask members of management or others to attend its meetings (or portions thereof) and to provide pertinent information as necessary. The Committee should meet separately on a periodic basis with (i) management, (ii) the director of the Company\u2019s internal auditing department or other person responsible for the internal audit function, if any, and (iii) the Company\u2019s independent auditors, in each case to discuss any matters that the Committee or any of the above persons or firms believe warrant Committee attention. A majority of the members of the Committee present in person or by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other shall constitute a quorum. The vote of a majority of the members of the Committee present at any meeting at which a quorum is present shall be the act of the Committee, except as may be otherwise specifically provided by statute, the Certificate of Incorporation or the Bylaws of the Company. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 37 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b77", + "block_sequence": 77, + "block_sha256": "b3f5de1777e6ea4f713e15f7fccbb014c271424668f5e14a7a81777c398a3f57", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 77, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "db4c413c8cadfce386d2be1b4c951457004111551713f1ea2724e89fdaf8738d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof037.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b78", + "block_sequence": 78, + "block_sha256": "154b24cbdb16b2a4cfd4d81540172dfa61b070e99d0e1bd7bc0a6d1aab3a97f9", + "block_type": "paragraph", + "char_count": 3802, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 78, + "char_end": 3802, + "char_start": 0, + "fragment_sha256": "f6c9bfd930fb841a0bb0f518af17ec6cec0d627213c12b86fabf318995bfeb2b", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 2 The Committee shall maintain minutes of its meetings and records relating to those meetings. The provisions of the Certificate of Incorporation and Bylaws of the Company (as amended from time to time) relating to meetings of the Board shall apply equally to meetings of the committee unless otherwise stated herein. IV. DUTIES AND RESPONSIBILITIES OF THE COMMITTEE In carrying out its duties and responsibilities, the Committee\u2019s policies and procedures should remain flexible, so that it may be in a position to best address, react or respond to changing circumstances or conditions. The following duties and responsibilities are within the authority of the Committee and the Committee shall, consistent with and subject to applicable law and rules and regulations promulgated by the SEC, Nasdaq, or any other applicable regulatory authority: Selection, Evaluation, and Oversight of the Independent Auditors (a) Be directly responsible for the appointment, compensation, retention and oversight of the work of any registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company, and each such registered public accounting firm must report directly to the Committee (the registered public accounting firm engaged for the purpose of preparing or issuing an audit report for inclusion in the Company\u2019s Annual Report on Form 10-K is referred to herein as the \u201cindependent auditors\u201d). (b) Review and, in its sole discretion, approve in advance the Company\u2019s independent auditors\u2019 annual audit engagement, including engagement letters and proposed fees, as well as all permitted non-audit engagements, after receiving input from the Company\u2019s management, if desired. Approval of audit and permitted non-audit services will be made by the Committee or by the chairperson of the Committee, who shall report such approval to the Committee at the next scheduled meeting. (c) Review the performance of the Company\u2019s independent auditors, including the lead partner of the independent auditors, and, in its sole discretion (subject, if applicable, to shareholder ratification), make decisions regarding the replacement or termination of the independent auditors when circumstances warrant. (d) Obtain at least annually from the Company\u2019s independent auditors and review a report describing: (i) the independent auditors\u2019 internal quality-control procedures; (ii) any material issues raised by the most recent internal quality-control review, or peer review, of the independent auditors, or by any inquiry or investigation by any governmental or professional authority, within the preceding five years, respecting one or more independent audits carried out by the independent auditors, and any steps taken to deal with any such issues; and (iii) all relationships between the independent auditors and the Company (including a description of each category of services provided by the independent auditors to the Company and a list of the fees billed for each such category). (e) Evaluate the independence of the Company\u2019s independent auditors by, among other things: (i) obtaining and reviewing from the Company\u2019s independent auditors a written report describing all relationships between the independent auditors and the Company (including a description of each category of services provided by the independent auditors to the Company and a list of the fees billed for each such category); (ii) monitoring compliance by the Company\u2019s independent auditors with the audit partner rotation requirements contained in the Act and the rules and regulations promulgated by the SEC thereunder; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 38 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b79", + "block_sequence": 79, + "block_sha256": "09f8a5a34a43979a686235997e5ce771a36f9ed04844913db34b49ddf5261040", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 79, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a04ab602cc2b77083c0ee08459b203a36187081f9b2c803a41c980d250cda7ea", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof038.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b80", + "block_sequence": 80, + "block_sha256": "ef73ffa27c6ad8097f4fb5bf485a3f73e401e1786078a809f66755b16ea2b09e", + "block_type": "paragraph", + "char_count": 3306, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 80, + "char_end": 3306, + "char_start": 0, + "fragment_sha256": "b37931c7cdcab81f1ccb537fdedfa735c33a7803a646b911f359050b67815dbb", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 3 (iii) actively engaging in a dialogue with the Company\u2019s independent auditors with respect to any disclosed relationships or services that may impact the objectivity and independence of the auditors; (iv) setting clear hiring policies for employees or former employees of the Company\u2019s independent auditors; (v) taking, or recommending that the Board take, appropriate action to oversee the independence of the Company\u2019s independent auditors; (vi) monitoring compliance by the Company of the employee conflict of interest requirements contained in the Act and the rules and regulations promulgated by the SEC thereunder; and (vii) engaging in a dialogue with the independent auditors to confirm that fees paid for audit and permitted non-audit services are in compliance with applicable SEC rules. Oversight of Annual Audit and Quarterly Reviews (f) Review and discuss with the independent auditors their responsibilities under generally accepted auditing standards, their audit strategy and annual audit plan, including the timing and scope of audit activities. Monitor such plan\u2019s progress and results during the year. (g) Review with management and the Company\u2019s independent auditors the following, which is required to be reported by the independent auditor by applicable Public Company Accounting Oversight Board standards and SEC rules: (i) all critical accounting policies and practices to be used; (ii) any critical auditing matters, which will appear in the audit report for inclusion in the Company\u2019s Annual Report on Form 10-K; (iii) all alternative treatments of financial information that have been discussed by the independent auditors and management, ramifications of the use of such alternative disclosures and treatments, and the treatment preferred by the independent auditors; (iv) all other material written communications between the independent auditors and management, such as any management letter and any schedule of unadjusted differences; and (v) any material financial arrangements of the Company which do not appear on the financial statements of the Company. (h) Review with management, the Company\u2019s independent auditors and, if appropriate, the head of the Company\u2019s internal auditing department, if any, the Company\u2019s annual audited financial statements and quarterly financial statements, including the Company\u2019s specific disclosures under \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d in its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, and any major issues related thereto. Meet with the Company\u2019s Disclosure Committee, or its designated representatives, in connection with the Disclosure Committee\u2019s review of Annual Reports on Form 10-K, each Quarterly Report on Form 10-Q and such other public disclosures as may be necessary. (i) Review with management, the Company\u2019s independent auditors and, if appropriate, the head of the Company\u2019s internal auditing department, if any, the following: (i) major issues regarding accounting principles and financial statements presentations, including any significant changes in the Company\u2019s selection or application of accounting principles; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 39 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b81", + "block_sequence": 81, + "block_sha256": "01e38a631fe202563955f84b00515cd2b02a1959f2c027e6c69b1a109e15fb7e", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 81, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "c5004b2ff34de8271c1dd08ba63fdb010bc4ee5caa4a7c540044b62946dd0045", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof039.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b82", + "block_sequence": 82, + "block_sha256": "d040473d53dc8f2864412b95f5dfde2725fa03be79c4038296219317cafb8856", + "block_type": "paragraph", + "char_count": 3233, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 82, + "char_end": 3233, + "char_start": 0, + "fragment_sha256": "c8641d4adbda7bb319587dc234afb7b23c7695a13aa285f9d452b559b667a26d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 4 (ii) any analyses prepared by management and/or the independent auditors setting forth significant financial reporting issues and critical accounting estimates and judgments made in connection with the preparation of the financial statements, including analyses of the effects of alternative generally accepted accounting principles and methods on the Company\u2019s financial statements; (iii) any contingent liabilities and risks that may be material to the Company (including, without limitation, risks relating to cybersecurity and relevant major legislative and regulatory developments); (iv) the Committee\u2019s level of involvement and interaction with the Company\u2019s internal audit function, if any, including the Committee\u2019s line of authority and role in appointing and compensating employees in any such internal audit function; (v) the effect of regulatory and accounting initiatives on the financial statements of the Company; and (vi) the type and presentation of information to be included in any earnings or press releases, including pro forma and non-GAAP information, as well as review of any financial information and earnings guidance provided to analysts or rating agencies. (j) Resolve all disagreements between the Company\u2019s independent auditors and management regarding financial reporting. (k) Review on a regular basis with the Company\u2019s independent auditors any problems or difficulties encountered by the independent auditors in the course of any audit work, including management\u2019s response with respect thereto, any restrictions on the scope of the independent auditor\u2019s activities or on access to requested information, and any significant disagreements with management. In connection therewith, the Committee should review with the independent auditors the following: (i) any accounting adjustments that were noted or proposed by the independent auditors but were rejected by management (as immaterial or otherwise); (ii) any communications between the audit team and the independent auditor\u2019s national office respecting auditing or accounting issues presented by the engagement; and (iii) any \u201cmanagement\u201d or \u201cinternal control\u201d letter issued, or proposed to be issued, by the independent auditors to the Company. Oversight of Financial Reporting Process and Internal Controls (l) Review with management and the independent auditors, periodically, the following: (i) the adequacy and effectiveness of the Company\u2019s administrative, operational and accounting internal control policies and procedures, including consideration of the risk of management\u2019s ability to override the Company\u2019s internal controls as well as any special audit steps adopted in light of the discovery of material control deficiencies; (ii) the yearly report prepared by management, and attested to by the Company\u2019s independent auditors, assessing the effectiveness of the Company\u2019s internal control over financial reporting and stating management\u2019s responsibility for establishing and maintaining adequate internal control over financial reporting prior to its inclusion in the Company\u2019s Annual Report on Form 10-K; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 40 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b83", + "block_sequence": 83, + "block_sha256": "7a994dfce5e7f0adf051bf45143717d39c0b342f34cc6b57e7fd10a993e3ba6c", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 83, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "9ac073cd473154b904b784f01a5d17bf4b4f4b9898d4392d8d9b35f81fdd360a", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof040.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b84", + "block_sequence": 84, + "block_sha256": "2c81de151b4c5b9460df7e508bdfbcab05a603f364890c9453d6a1a1966f7f61", + "block_type": "paragraph", + "char_count": 3893, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 84, + "char_end": 3893, + "char_start": 0, + "fragment_sha256": "e776c0ade669e428bf764a0bcd33fb917a3c7a944eeb0a3962234d76c69bb156", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 5 (iii) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company\u2019s ability to record, process, summarize and report financial information; and (iv) any material fraud as well as any fraud, whether or not material, that involves management or other employees who have a significant role in the Company\u2019s internal control over financial reporting. (m) Discuss guidelines and policies governing the process by which senior management of the Company assess and manage the Company\u2019s exposure to risk, as well as the Company\u2019s major financial risk exposures and the steps management has taken to monitor and control such exposures. Review with management the responsibilities, charter, budget, compensation and staffing of the Company\u2019s internal audit function, if any. Review the progress and results of any internal audit projects, and, when deemed necessary or appropriate by the Committee, assign any additional internal audit projects to appropriate personnel. (n) Receive periodic reports from the Company\u2019s independent auditors, management and the Company\u2019s corporate controller or chief accounting officer, if any, to assess the impact on the Company of significant accounting or financial reporting developments that may have a bearing on the Company. (o) Consider whether the Committee will recommend to the Board that the Company\u2019s audited financial statements be included in the Company\u2019s Annual Report on Form 10-K. (p) Oversee environmental, social and governance (\u201cESG\u201d) disclosure controls for public filings based on commonly accepted ESG standards and SEC requirements, including with respect to cybersecurity and climate change disclosure requirements. (q) Establish and maintain free and open means of communication between and among the Committee, the Company\u2019s independent auditors and management, including providing such parties with appropriate opportunities to meet separately and privately with the Committee on a periodic basis. Oversight of Related Party Transactions (r) Review and approve or ratify, in accordance with the Company\u2019s policies, any related party transaction as defined by applicable law or Nasdaq requirements, including without limitation transactions involving \u201cRelated Persons\u201d under the Company\u2019s Related-Person Transactions Policy (as in effect from time to time). Data Privacy and Cybersecurity (s) Review with management, the Company\u2019s cybersecurity, data privacy, and other risks relevant to the Company\u2019s information systems and security, the steps the Company has taken to monitor or mitigate such exposures, and the Company\u2019s information system governance policies and programs. Oversight of Risk Exposure (s)(t) Review with management, periodically, the adequacy and effectiveness of the Company\u2019s policies and strategies with respect to portfolio risk management, capital and liquidity management, and capital investment activities, including the Company\u2019s guidelines, policies and procedures governing the process by which senior management of the Company assesses and manages the Company\u2019s portfolio risk exposure and the steps management has taken to monitor and manage such exposure. Miscellaneous (t) Meet periodically with outside counsel when appropriate, to review legal and regulatory matters, including (i) any matters that may have a material impact on the financial statements of the Company and (ii) any matters involving potential or ongoing material violations of law or breaches of fiduciary duty by the Company or any of its directors, officers, employees, or agents or breaches of fiduciary duty to the Company. Formatted: Font: (Default) Arial, 11 pt, Font color: Black Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 41 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b85", + "block_sequence": 85, + "block_sha256": "d641ffe3e8a1d7154ef9a266409393c6d6c5827326cfd13f1e5c9c9f69a76daa", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 85, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "e1925cbeb42687c6872e418098a96720183011d68bd18e38450674fd5fc15480", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof041.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b86", + "block_sequence": 86, + "block_sha256": "c2935ae48602075cd1e8fd34690bc2f6dd71f965c8bfdc0927e0e14a6e3419eb", + "block_type": "paragraph", + "char_count": 3741, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 86, + "char_end": 3741, + "char_start": 0, + "fragment_sha256": "fd38312143e6ba35bb1f72371c8ce2366b3e3f450da25f9685b38386e0793ae7", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 6 (u) Prepare the report required by the rules of the SEC to be included in the Company\u2019s annual proxy statement. (v) Review the Company\u2019s policies relating to the ethical handling of conflicts of interest and review past or proposed transactions between the Company and members of management as well as policies and procedures with respect to officers\u2019 expense accounts and perquisites, including the use of corporate assets. The Committee shall consider the results of any review of these policies and procedures by the Company\u2019s independent auditors. (w) Review the Company\u2019s program to monitor compliance with the Company\u2019s Code of Ethics and Business Conduct. (x) Establish procedures for (i) the receipt, retention and treatment of complaints received by the Company regarding accounting, internal controls or auditing matters, and (ii) the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters. The Committee shall review any such complaints or anonymous submissions received directly by the Committee or from the officer designated by the Board to administer the Company\u2019s Code of Business Conduct and Ethics. The Committee shall also periodically review these procedures and consider any proposed changes. (y) Secure independent expert advice to the extent the Committee determines it to be appropriate, including retaining, with or without Board approval, independent counsel, accountants, consultants or other advisers, to assist the Committee in fulfilling its duties and responsibilities, the cost of such independent expert advisors to be borne by the Company. (z) Report regularly to the Board on its activities, as appropriate (in connection therewith, the Committee should review with the Board any issues that arise with respect to the quality or integrity of the Company\u2019s financial statements, the Company\u2019s compliance with legal or regulatory requirements, the performance and independence of the Company\u2019s independent auditors, or the performance of the internal audit function, if any). (aa) Perform such additional activities, and consider such other matters, consistent with the scope of the Committee\u2019s responsibilities under this Charter, the purposes of the Committee, the Company\u2019s Bylaws and applicable Nasdaq rules. (bb) Review, on a quarterly basis, all payments that were made by the Company to the Company\u2019s officers and directors or any of their respective affiliates. V. EVALUATION OF THE COMMITTEE The Committee shall, on an annual basis and in coordination with the Nominating and Corporate Governance Committee, evaluate its performance. The evaluation shall address all matters that the Committee considers relevant to its performance, including a review and assessment of the adequacy of this Charter, shall be conducted in such manner as the Committee deems appropriate. The Committee shall deliver to the Board a report, which may be oral, setting forth the results of its evaluation. VI. REVIEW OF CHARTER The Committee shall annually review and assess the adequacy of this Charter and recommend any proposed changes to the Board for approval. VII. DELEGATION OF AUTHORITY The Committee may form subcommittees for any purpose that the Committee deems appropriate and may delegate to such subcommittees such power and authority as the Committee deems appropriate; provided that the Committee shall not delegate to a subcommittee any power or authority required by any law, regulation or listing standard to be exercised by the Committee as a whole. VIII. INVESTIGATIONS AND STUDIES; OUTSIDE ADVISERS Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 42 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b87", + "block_sequence": 87, + "block_sha256": "b4256e0360e566995395d2d26ffc659e0a4d8549e3544b21f1b1fa93148454d6", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 87, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "84725750f2a5739cdbb5097d6f8db8cc3eb416a599d14ca5c1733e60a4a6ffed", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof042.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b88", + "block_sequence": 88, + "block_sha256": "1e8b3687e3e18f437bfc976f8e08748ed455eb2c54cc69c84f9101471ceadd54", + "block_type": "paragraph", + "char_count": 2048, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 88, + "char_end": 2048, + "char_start": 0, + "fragment_sha256": "57d462a904fe85603ff950cb2cad8b1efffac73c43d7997772e20f68c82ce228", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 7 The Committee may conduct or authorize investigations into or studies of matters within the Committee\u2019s scope of responsibilities, and may retain, at the Company\u2019s expense, such independent counsel or other consultants or advisers as it deems necessary. IX. FUNDING The Company must provide for appropriate funding, as determined by the Committee, for payment of compensation to the independent auditors for the purpose of preparing or issuing an audit report or performing other audit, review or attest services and for payment of ordinary administrative expenses of the Committee that are necessary or appropriate in carrying out its duties. * * * While the Committee has the duties and responsibilities set forth in this Charter, the Committee is not responsible for preparing or certifying the financial statements, for planning or conducting the audit, or for determining whether the Company\u2019s financial statements are complete and accurate and are in accordance with generally accepted accounting principles. In fulfilling their responsibilities hereunder, it is recognized that members of the Committee are not full-time employees of the Company, it is not the duty or responsibility of the Committee or its members to conduct \u201cfield work\u201d or other types of auditing or accounting reviews or procedures or to set auditor independence standards, and each member of the Committee shall be entitled to rely on (i) the integrity of those persons and organizations within and outside the Company from which it receives information and (ii) the accuracy of the financial and other information provided to the Committee, in either instance absent actual knowledge to the contrary. Nothing contained in this Charter is intended to create, or should be construed as creating, any responsibility or liability of the members of the Committee, except to the extent otherwise provided under applicable U.S. federal or state law. 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"norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 OPENDOOR TECHNOLOGIES INC. CORPORATE GOVERNANCE GUIDELINES AUGUST 22, 2024 1. PERSONS SUBJECT TO THESE CORPORATE GOVERNANCE GUIDELINES The Board of Directors (the \u201cBoard\u201d) of Opendoor Technologies Inc. (\u201cOpendoor\u201d) has established the following guidelines for each of the members of the Board. These guidelines are designed to give directors a flexible framework for effectively pursuing Opendoor\u2019s objectives for the benefit of its stockholders. These guidelines should be interpreted in the context of all applicable laws, the Exchange (as defined below) listing standards, Opendoor\u2019s certificate of incorporation and bylaws, and Opendoor\u2019s other policies. 2. BOARD COMPOSITION AND SELECTION 2.1 Size of the Board. The Board will establish the number of directors in accordance with Opendoor\u2019s certificate of incorporation and bylaws. The Nominating and Corporate Governance Committee will periodically review the appropriate Board size, which may vary to accommodate the availability of suitable candidates and Opendoor\u2019s needs, and recommend any changes to the Board. 2.2 Independence of Directors. A majority of the directors on the Board must be independent, except as otherwise provided by the applicable rules of the Exchange. The Board will determine the independence of directors pursuant to listing standards of the primary exchange on which Opendoor\u2019s common stock is listed (\u201cExchange\u201d) and all factors the Board determines to be relevant to the ability of each director to exercise independent judgment in carrying out their Board responsibilities. The Board will make affirmative determinations of director independence, based on information provided by Board members and legal counsel, at such times as may be required by the rules of the Securities and Exchange Commission (the \u201cSEC\u201d) or Exchange listing standards, or otherwise when determined by the Board or its Nominating and Corporate Governance Committee. 2.3 Management Directors. The Board anticipates that the Chief Executive Officer will serve on the Board. Other members of management may serve on the Board if the Board determines it to be advisable. 2.4 Board Leadership. It is the policy of the Company that the positions of Chief Executive Officer and chairperson of the Board may be held by the same person. In the event that Opendoor does not have an independent chairperson of the Board, the independent directors may designate a lead independent director. The independent chairperson or lead independent director will be responsible for coordinating the activities of the independent directors. In addition to the duties of all Board members, the specific responsibilities of the independent chairperson or lead independent director are to: \u25cf work with the Chief Executive Officer to develop Board meeting schedules and agendas; \u25cf assist the Chief Executive Officer in the review and approval of information and materials to be sent to the Board, including providing the Chief Executive Officer feedback on the quality, quantity and timeliness of the information provided to the Board; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 46 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b95", + "block_sequence": 95, + "block_sha256": "788a4b4b071081f889c2c5f621a0bdd552467d28b91579cc008a09b8f0fbed63", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 95, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "537c58bf67671bc92ca461181af5351f2c1de1c7775017425347c18473b33b18", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof046.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b96", + "block_sequence": 96, + "block_sha256": "c7dfe3fee7f11010268566dba5fcf970eaa86b1fa673a0c486bf323056915e9d", + "block_type": "paragraph", + "char_count": 3291, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 96, + "char_end": 3291, + "char_start": 0, + "fragment_sha256": "e8b94ddf51fcc863bccb681d5aff6a21bbd40449adbaae76b3221c47d5fad392", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 \u25cf develop the agenda for and moderate executive sessions of the independent directors; \u25cf assist the Chief Executive Officer in presiding over Board meetings (or, in the case of lead independent director, assist the Chief Executive Officer in presiding over Board meetings when the chairperson is not present); \u25cf act as principal liaison between the independent members of the Board and the Chief Executive Officer; \u25cf convene meetings of the independent directors as appropriate; \u25cf if appropriate, and in coordination with management, be available for periodic consultation and direct communication with major shareholders; and \u25cf perform other duties as the Board may determine from time to time. 2.5 Nomination of Directors. The Board will be responsible for nominating members for election to the Board by Opendoor\u2019s stockholders and for filling any vacancies on the Board as provided in Opendoor\u2019s certificate of incorporation and bylaws, subject to any limitations provided in Opendoor\u2019s certificate of incorporation and any voting agreement that may be in effect. The Nominating and Corporate Governance Committee is responsible for identifying, reviewing, evaluating and recommending candidates to serve as directors of Opendoor, in accordance with its certificate of incorporation and bylaws and consistent with the criteria listed below. For nominations of potential candidates made other than by the Board, the stockholder or other person making such nomination must comply with any requirements provided therefor in Opendoor\u2019s bylaws. Upon request, any candidate nominated will agree in writing to comply with these Corporate Governance Guidelines and all other policies and procedures of Opendoor applicable to the Board. The Nominating and Corporate Governance Committee will, periodically, review the procedures it has established for the consideration of nominees for election to the Board and the requirements included in Opendoor\u2019s bylaws for the nomination of potential candidates for election to the Board other than by the Board. 2.6 Board Membership Criteria. The Board will determine the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members and will consider recommendations for nominees from its Nominating and Corporate Governance Committee. The Board will consider the minimum general criteria below, and may add any specific additional criteria with respect to specific searches, in selecting candidates and existing directors for serving on the Board. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics, the ability to read and understand basic financial statements, and being older than 21. In considering candidates for Board membership, the Board intends to consider factors it determines to be relevant to Board membership, including (without limitation) any or all of the following: \u25cf relevant expertise to offer advice and guidance to management; \u25cf sufficient time to devote to the affairs of Opendoor; \u25cf excellence in their field; \u25cf the ability to exercise sound business judgment; and Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 47 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b97", + "block_sequence": 97, + "block_sha256": "75326ab7af9930fa8745bc131e8ed97f56b170c4f4c37259bcdce2379f8d2895", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 97, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "aaedb02827574a2997d39b5119cdbb96f482f0b158c49e2d53591e84624ea6a7", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof047.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b98", + "block_sequence": 98, + "block_sha256": "07d51d15ebdeb3f02e4bec85e8ed44704156309fd930b00e616a30591e7ba663", + "block_type": "paragraph", + "char_count": 4929, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 98, + "char_end": 4929, + "char_start": 0, + "fragment_sha256": "5ea9a20c9183a7f63892ffd03e76372efd5d93117d4ebb362a13096cf7ec05f1", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 \u25cf the commitment to represent the long-term interests of Opendoor\u2019s stockholders. The Board will review candidates for director nomination in the context of the current composition of the Board, Opendoor\u2019s operating requirements, the long-term interests of Opendoor\u2019s stockholders, and any limitations on or requirements for Opendoor\u2019s Board members set forth in Opendoor\u2019s certificate of incorporation or bylaws or any voting agreement. In conducting this assessment, the Board will consider diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board. For incumbent directors, the Board will review those directors\u2019 overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors\u2019 independence. The Board will also determine whether the nominee must be independent for purposes of Exchange listing standards. 2.7 Changes in Board Membership Criteria. The Board wishes to have members who can productively contribute to the success of Opendoor. From time to time, the Board, in its discretion, may change the criteria for Board membership. When this occurs, the Board will evaluate existing members according to the new criteria. The Board may adjust the Board committee assignments for any director who no longer meets the complete criteria for Board membership or request that such director resign from the Board. 2.8 Term Limits. The Board does not believe it should limit the number of terms for which an individual may serve as a director. Directors who have served on the Board for an extended period of time may be able to provide continuity and valuable insight into Opendoor\u2019s operations and prospects because of their experience and understanding of Opendoor\u2019s history, policies, and objectives. The Board believes that it can ensure that it continues to evolve and adopt new ideas and viewpoints through the director nomination process in these guidelines. The director nomination process is designed to achieve what term limits seek to accomplish. 2.9 Limits on Board and Committee Service. The Board recognizes that a director\u2019s ability to fulfill their responsibilities as a director can be impaired if they serve on multiple other boards of directors or board committees. Service on boards and board committees of other companies should be consistent with Opendoor\u2019s Code of Business Conduct and Ethics and not impair a director\u2019s ability to fulfill their responsibilities to Opendoor. Accordingly, directors should advise the chairperson of the Board or Nominating and Corporate Governance Committee before accepting an invitation to serve on the board of directors or committee of another company. In addition, generally, directors are not expected to serve simultaneously on more than five four public company boards, including Opendoor\u2019s Board, except with the prior approval of the Board. T he Board does not have a limit on private company boards and will consider service on such boards on a case-by-case basis. In addition, if a member of the Audit and Risk Committee wishes to serve on the audit committees of more than three public companies, including the Company\u2019s Audit and Risk Committee, the director must notify the Nominating and Corporate Governance Committee prior to accepting the additional service. In the event the Board or Nominating and Corporate Governance Committee determines that a director\u2019s ability to fulfill their responsibilities to Opendoor is impaired as a result of non-Opendoor board of directors or board committee obligations, the Board may adjust such director\u2019s Opendoor Board committee assignments or request that such director adjust their non- Opendoor board of directors or board committee service or resign from the Board. 2.10 Retirement Age. The Board believes that it is inappropriate to have a retirement age for directors. 2.11 Directors Who Change Their Job Responsibility; Conflict of Interest. A director who materially changes their present job (other than an ordinary course promotion) should notify the Board or the Nominating and Corporate Governance Committee. In the event the Board or Nominating and Corporate Governance Committee determines that a director\u2019s ability to fulfill their responsibilities to Opendoor is Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 48 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b99", + "block_sequence": 99, + "block_sha256": "f4c3db87a3d2c91c2fba932ac5bb9013949c188d15b57162e4c99a668b1c47fb", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 99, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d66f00c13b17d3cd3f48f25233378a68a3001f8987aa6240951dc28b26c937d4", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof048.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b100", + "block_sequence": 100, + "block_sha256": "7bcf9e801761c31ccfd303c7e382bc6a0ea72253ee034502ed85b89870891017", + "block_type": "paragraph", + "char_count": 4568, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 100, + "char_end": 4568, + "char_start": 0, + "fragment_sha256": "6b9859698b0247c76a64d2d0fd37782ea20cb1d918fe773800e9bd055a8d14ec", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "4 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 impaired as a result of such material change, the Board may adjust such director\u2019s Opendoor Board committee assignments or request that such director resign from the Board. A director shall offer to tender his or her resignation to the Board if the Board or the Nominating and Corporate Governance Committee has determined that an actual conflict of interest arises with respect to the director which is not waived by the Board. The Nominating and Corporate Governance Committee shall then recommend to the Board whether the Board should accept the offer to resign in light of the director\u2019s conflict of interest or request that he or she continue to serve. 3. BOARD RESPONSIBILITIES 3.1 Duties Generally. Stockholders select directors to provide oversight and strategic guidance to senior management. A director\u2019s responsibility is to fulfill their fiduciary duties of care and loyalty, and otherwise to exercise their business judgment in the best interests of Opendoor and its stockholders. Board service requires significant time and attention. More specifically, the Board has responsibilities to review, approve, and monitor fundamental financial and business strategies, to assess Opendoor\u2019s major risks and consider ways to address those risks, and to select and oversee management. To fulfill their duties, directors must prepare for meetings and discussions with management, participate in Board meetings, review relevant materials (including those that may have been circulated prior to each meeting), and serve on committees if appointed by the Board. Opendoor expects directors to maintain an attitude of constructive involvement and oversight, ask relevant and incisive questions, and demand honest and accurate answers. Directors must act with integrity and demonstrate a commitment to Opendoor, Opendoor\u2019s values, business, and long-term stockholder value. A director should discharge their duties, including duties as a member of any committee on which they serve, in good faith and in a manner the director reasonably believes to be in the best interests of Opendoor and its stockholders. In discharging their duties to Opendoor, Board members will comply with applicable laws and all policies and guidelines of Opendoor, including without limitation, Opendoor\u2019s Code of Business Conduct and Ethics. 3.2 Disclosure of Information to the Board. Each director is expected to disclose promptly to the Board and respond promptly and accurately to periodic questionnaires or other inquiries from Opendoor regarding any existing or proposed relationships with Opendoor, including compensation and stock ownership, that could affect the independence of the director. Each director will also promptly inform the Board of any material change in such information, to the extent not already known by the Board. 3.3 Duty of Confidentiality. Directors have an obligation to protect and keep confidential all of Opendoor\u2019s non-public information unless Opendoor has authorized public disclosure or unless otherwise required by applicable law. Confidential information includes all non-public information entrusted to or obtained by a director by reason of their position on the Board. This includes information regarding Opendoor\u2019s strategy, business, finances, and operations, and will include minutes, reports, and materials of the Board and committees, and other documents identified as confidential by Opendoor. The obligations described above continue even after service on the Board has ended. Directors may not use such confidential information for personal benefit or to benefit other persons or entities other than Opendoor. Unless authorized by Opendoor or applicable law, directors will refrain from disclosing confidential information to anyone outside Opendoor, especially anyone affiliated with any entity or person that employs the director or has sponsored the director\u2019s election to the Board. These obligations continue even after service on the Board has ended. Any questions or concerns about potential disclosures should be directed to Opendoor\u2019s Chief Legal Officer, who then may communicate with the Chief Executive Officer or the Board or Nominating and Corporate Governance Committee regarding the potential disclosures. 3.4 Board Interaction with Media, Investors and Others. Management, and not the Board or individual directors, should normally speak for the Company. 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BOARD MEETINGS 4.1 Number of Meetings. The Board expects to have at least four regular Board meetings each year. 4.2 Attendance and Preparation. Opendoor expects Board members to prepare for, attend and participate in all meetings of the Board and committees on which they serve. Directors should notify Opendoor\u2019s Secretary when they will be absent from a meeting. Opendoor will provide directors with appropriate materials before the meeting, except in unusual or exigent circumstances. 4.3 Agenda. The chairperson or lead independent director, together with the Chief Executive Officer, will create a schedule of topics to be discussed during the year and an agenda for each Board meeting. Each Board member is encouraged to suggest topics for the agenda at any time, and each Board member is free to raise subjects that are not on the agenda. 4.4 Executive Session. The independent directors will meet periodically in executive session no less than two times per year or whatever minimum has been set by applicable Exchange listing standards. Executive session discussions may include any topics decided by the attendees. 4.5 Committee Reports. At each regular Board meeting, if requested by the Board, each committee will present a brief summary of the principal subjects discussed, any conclusions reached, and the final actions of the committee. The chairperson of the appropriate committee will present the report. Minutes of committee meetings will be available to any director. 5. BOARD COMMITTEES 5.1 Number of Committees; Independence of Members. The Board will constitute and maintain to the extent required by applicable law or Exchange listing standards: an Audit and Risk Committee, a Compensation Committee, and a Nominating and Corporate Governance Committee. Only independent directors may serve on the Audit and Risk Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee, subject to any available exception. The Board may form, merge, or dissolve additional committees, as it deems appropriate. 5.2 Committee Functions and Charters. All standing committees will have a written charter that describes the committee\u2019s responsibilities. Each committee will periodically review its charter and recommend any proposed charter changes to the Board. 5.3 Board Committee Membership. The Board or Nominating and Corporate Governance Committee oversees the Board\u2019s committee structure and operations. The Nominating and Corporate Governance Committee may make recommendations to the Board regarding each committee\u2019s chairperson and membership at any time. In making those recommendations, the Nominating and Corporate Governance Committee will consider the interests, independence, and experience of the directors and the independence and experience requirements of the Exchange, the rules and regulations of the SEC, and applicable law. 5.4 Committee Meetings and Agenda. Each committee chairperson, in consultation with that committee\u2019s members, will determine the frequency, length, and agenda for each committee meeting Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 50 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b103", + "block_sequence": 103, + "block_sha256": "f06551f42479ff6f8afa369c9733861831a213895751275220a64d7a3c3919ab", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 103, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d0ab4d66a5a13ae2d5b6141e4eab1ee59060d2579a609d7b247fb9ea11754ebb", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof050.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b104", + "block_sequence": 104, + "block_sha256": "d6d55cca7aa05c49b43626a29ee0a580eccca27e47dcb9e8ac2df88f51fa6222", + "block_type": "paragraph", + "char_count": 3528, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 104, + "char_end": 3528, + "char_start": 0, + "fragment_sha256": "2376f16c52364cb327f02b78831251c2ae7eb75bce0ee4ef55fb5118eae17761", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "6 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 and the appropriate attendees in light of that committee\u2019s charter, the authority delegated by the Board to that committee, and the legal, regulatory, accounting, and governance principles applicable to that committee\u2019s functions. 6. BOARD ACCESS TO MANAGEMENT; USE OF OUTSIDE ADVISORS Board members will have access to Opendoor management, subject to such processes as deemed appropriate by the Board or the Nominating and Corporate Governance Committee. Board members are expected to use their judgment to ensure that this contact is not distracting to Opendoor\u2019s operations or to management\u2019s duties and responsibilities. The Board and each committee will have the power to hire, at the expense of Opendoor, and will have access to, independent legal, financial, or other advisors that they may deem necessary, without consulting or obtaining the advanced approval of any officer. 7. DIRECTOR ORIENTATION AND EDUCATION All Board members are encouraged to participate in continuing education programs, with any associated expenses to be reimbursed by Opendoor, in order to stay current and knowledgeable about Opendoor\u2019s business and industry. The Board or Nominating and Corporate Governance Committee may implement an orientation process for directors that includes background material on Opendoor\u2019s policies and procedures, meetings with senior management, and visits to Opendoor\u2019s facilities. The Board may also offer continuing education programs to assist the directors in maintaining the level of expertise necessary to perform their duties. 8. DIRECTOR COMPENSATION The Compensation Committee will review and recommend to the Board the type and amount of director compensation for Board and committee service for non-management directors. Compensation for non- management directors and committee members should be designed to be aligned with the long-term interests of the stockholders and consistent with market practices of similarly situated companies. In determining compensation, the Board will consider the impact on the director\u2019s independence and objectivity. 9. CHIEF EXECUTIVE OFFICER EVALUATION The Board will review the Chief Executive Officer\u2019s performance annually. The Board will evaluate performance based on objective criteria, including how well the business achieves long-term strategic objectives and successfully develops management. The Compensation Committee and Board will use this evaluation when considering the compensation of the Chief Executive Officer. 10. MANAGEMENT SUCCESSION PLANNING The Board or a duly authorized committee of the Board should develop and periodically review with the Chief Executive Officer a plan with respect to executive officers\u2019 succession and consider appropriate individuals who might fill those positions. The Chief Executive Officer should also recommend and evaluate potential successors. The Chief Executive Officer will also review any development plans for those potential successors. 11. BOARD ASSESSMENT The Nominating and Corporate Governance Committee will oversee an annual assessment of the Board and its committees, the results of which will be discussed with the Board. In addition, each committee shall Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 51 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b105", + "block_sequence": 105, + "block_sha256": "3dfc733676476141801aaf213ea6a4b375a07221baf9248712307c28e4f30f2f", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 105, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "eaefb433e213745aa5e775f6b14221951731f2032ee69c2131fc32bbf82b0c97", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof051.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b106", + "block_sequence": 106, + "block_sha256": "14b47a5dad422ca85afc7c1d60b3363d570cb1853d6e5eeb4f8408f67e3c0cd4", + "block_type": "paragraph", + "char_count": 819, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 106, + "char_end": 819, + "char_start": 0, + "fragment_sha256": "e6657cc9e9337b5e5290b7ce1c27439959fe41e126d2c90054d3ab5389d8e7ef", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "7 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 establish and conduct an annual self-evaluation of its performance and deliver a report, which may be oral, setting forth the results of its evaluation. REVIEW OF CORPORATE GOVERNANCE GUIDELINES The Nominating and Corporate Governance Committee will periodically review and assess the adequacy of these guidelines and recommend any proposed changes to the Board for approval. 12. QUESTIONS If you have any further questions about any aspect of these Corporate Governance Guidelines, please contact Opendoor\u2019s Chief Legal Officer. (As adopted by the Board of Directors on December 18, 2020, re-approved on December 7, 2021, February 9, 2023 and December 21, 2023 and amended on August 22, 2024) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 52 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b107", + "block_sequence": 107, + "block_sha256": "33cf73fed990a1cb8096f78a595808772423f326b95ac383a088338ba0053641", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 107, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b62572c6e7bc0ac4cf917a36ff41e3371439f9e2c1c7a3c904ae3f3e4fcb74ff", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof052.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b108", + "block_sequence": 108, + "block_sha256": "104afc899ed4e058faf3a812dca11a25fad561b0fe8157cf3ba4eaa1c4e2abe8", + "block_type": "paragraph", + "char_count": 75, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 108, + "char_end": 75, + "char_start": 0, + "fragment_sha256": "0ce00a7fcbf09d9baed49f8aa2a5fc590be601e912ad36978e9094fd3a249d62", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit 3 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 53 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b109", + "block_sequence": 109, + "block_sha256": "94b4d66898c6bdc98c3e7de3d836667bd1c4c1b6e050cb36208d5fa07d62c0ae", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 109, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "2a578738e73b756ca9d3da3d8fdda2d995ef87833aea17abcce073545b4bb47d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof053.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b110", + "block_sequence": 110, + "block_sha256": "a9995c3d535cd8c9e78af7895a91e3d3693823987b383f3fa3522eb2a51eb8d5", + "block_type": "paragraph", + "char_count": 2864, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 110, + "char_end": 2864, + "char_start": 0, + "fragment_sha256": "53a285e671f68c391158a872424207a03827e2b2bb26595d1cff8a217719f293", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 OPENDOOR TECHNOLOGIES INC. DISCLOSURE COMMITTEE CHARTER AUGUST 22[____], 20245 INTRODUCTION This Charter (the \u201cCharter\u201d) of the Disclosure Committee of Opendoor Technologies Inc., a Delaware corporation (together with its subsidiaries, \u201cOpendoor\u201d) has been adopted by the Chief Financial Officer and the Chief Legal Officer of Opendoor (collectively, including any persons then acting in such capacities on an interim basis, the \u201cSenior Officers\u201d), and adopted and approved by the Audit and Risk Committee (the \u201cAudit and Risk Committee\u201d) of Opendoor\u2019s Board of Directors (the \u201cBoard\u201d). Opendoor has also adopted a Corporate Disclosure Policy that prevent the inappropriate and selective disclosure of material nonpublic information regarding Opendoor and to establish guidelines for the disclosure of material non- public information by Opendoor. This Charter is subject to amendment from time to time by mutual agreement of the Senior Officers and ratification by the Audit and Risk Committee. PURPOSE The purpose of the Disclosure Committee is to: \u25cf oversee the production of information required to be disclosed on a timely basis by Opendoor in its: o filings with, or submissions to, the Securities and Exchange Commission (the \u201cSEC\u201d) under the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), which shall include annual reports on Form 10-K (each, an \u201cAnnual Report\u201d), quarterly reports on Form 10-Q (each, a \u201cQuarterly Report\u201d), current reports on Form 8-K (each, a \u201cCurrent Report\u201d), definitive proxy materials and any amendments to these reports or documents (collectively, the \u201cSEC Filings\u201d); o press releases containing financial information, earnings guidance, information about material developments in Opendoor\u2019s business, material acquisitions or dispositions, or other information material to Opendoor\u2019s stockholders (the \u201cInvestor Information\u201d); and o such other information and materials that may be disclosed either publicly or to government regulators when required or as may otherwise be designated from time to time by the Senior Officers (collectively with the SEC Filings and the Investor Information, the \u201cDisclosure Statements\u201d). \u25cf collect the information accumulated in connection with Disclosure Statements; \u25cf make inquiries when the Disclosure Committee believes it appropriate to assure itself of completeness and reliability of such Disclosure Statements; and \u25cf upon request, make determinations and recommendations concerning materiality and required disclosure obligations on a timely basis, together with the Senior Officers, as more particularly described below. Formatted: Not Expanded by / Condensed by Formatted: Not Expanded by / Condensed by Formatted: Not Expanded by / Condensed by Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 54 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b111", + "block_sequence": 111, + "block_sha256": "98f230630a67c633cdf2c9d6dc6c6e90ecd247a71bb44f44401011194a4ff0bd", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 111, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "872c09f00aa7515ca8770586651d7e65202807b84195d9572bda8e5f1cda831c", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof054.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b112", + "block_sequence": 112, + "block_sha256": "a8855cd8a2b36c59341f59a4f83f6a68080315f2d573cdc4af3ffb1ecbcbd1af", + "block_type": "paragraph", + "char_count": 2326, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 112, + "char_end": 2326, + "char_start": 0, + "fragment_sha256": "88ed8cf39c22ebf36444fa398502d99021049bdddb058236e79c840315713b21", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 MEMBERSHIP The Disclosure Committee shall be composed of officers and other employees of Opendoor who are familiar with the critical operating aspects of Opendoor and who have an interest in, and the expertise to serve on, the Disclosure Committee, including Senior Officers and any other officers or employees of Opendoor. The following individuals have been designated to serve on this Disclosure Committee: \u25cf Chief Financial Officer; \u25cf Chief Legal Officer; and \u25cf Those other individuals who are responsible for the following functions: \u25cb Corporate Finance & Strategy; \u25cb Capital Markets; \u25cb Accounting and Financial Reporting1; \u25cb Investor relations; and \u25cb Sarbanes-Oxley Compliance In addition, the Disclosure Committee may include other senior individuals who are knowledgeable about Opendoor\u2019s business, as may be deemed appropriate from time to time by the Senior Officers. The Corporate Controller Chief Accounting Officer shall serve as the chairperson of the Disclosure Committee. In addition, the Senior Officers shall appoint an administrator for the Disclosure Committee (the \u201cDisclosure Administrator\u201d) who shall be responsible for: \u25cf scheduling meetings and preparing agendas; \u25cf coordinating the activities of the Disclosure Committee; \u25cf appointing Disclosure Committee members to work with the various business units or departments within Opendoor from which information is gathered based on such member\u2019s position and expertise; \u25cf interfacing with the Audit and Risk Committee and the Board; \u25cf preparing and implementing time and responsibilities schedules; and \u25cf documenting compliance with disclosure policies and procedures. The initial Disclosure Administrator shall be the Chief Accounting OfficerCorporate Controller or a delegate. MEETINGS The Disclosure Committee shall meet at least quarterly, or more frequently as its members deem may be necessary under the circumstances, to: \u25cf ensure the fairness, accuracy, completeness and timeliness of the Disclosure Statements; \u25cf evaluate Opendoor\u2019s Disclosure Controls (as defined below) and internal control over financial reporting; and 1 The designated member may be either the Chief Accounting Officer or the Corporate Controller. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 55 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b113", + "block_sequence": 113, + "block_sha256": "6f0f2c463276378ffd13cc535f51912734f0fa9bc467200f8f7261c0a66600b7", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 113, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a8b6cbe316f69a7a30d2180a72d5c4ab2ede08d03392c22ab0a4b5fa71df48c4", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof055.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b114", + "block_sequence": 114, + "block_sha256": "2f4e0c64e40652470754565213916752a2c6f0243f4611bc79525d1c5fb1c253", + "block_type": "paragraph", + "char_count": 3502, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 114, + "char_end": 3502, + "char_start": 0, + "fragment_sha256": "fc92a3f80138c9ae4746ad74f03992ec5e2e912b5d4317f0434a6e2c07b59061", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 \u25cf determine whether any changes to such Disclosure Controls or internal control over financial reporting are necessary or advisable in connection with the preparation of Opendoor\u2019s Disclosure Statements, taking into account developments since the most recent Disclosure Committee meeting, including changes in Opendoor\u2019s organization or business focus and changes to economic or industry conditions. The presence in person or by video or telephone of a majority of the Disclosure Committee\u2019s members shall constitute a quorum for any meeting of the Disclosure Committee and the act of a majority of the members present at any meeting at which there is a quorum shall be the act of the Disclosure Committee. Minutes of each meeting of the Disclosure Committee shall be prepared and kept with the Disclosure Committee records for review from time to time by the Senior Officers and Audit and Risk Committee members. The Disclosure Administrator or one of the Senior Officers shall report to the Board or Audit and Risk Committee from time to time, or whenever so requested by the Board or Audit and Risk Committee. AUTHORITY The Disclosure Committee shall be authorized to access such internal and, in consultation with the Senior Officers, external resources (such as outside legal counsel and Opendoor\u2019s independent registered public accounting firm) as the Disclosure Committee deems necessary or appropriate to fulfill its responsibilities hereunder, at the expense of Opendoor. Specifically, and without limitation, the Disclosure Committee shall have full access to all Company books, records, facilities and personnel, including internal auditors, if any. OPERATING PRINCIPLES AND PROCESSES In fulfilling its function and responsibilities, the Disclosure Committee should give due consideration to the following operating principles and processes: \u25cf Charter Interpretation. Any question regarding the interpretation of this Charter or the Disclosure Committee\u2019s procedures as set forth herein shall be determined by a Senior Officer or, in the absence of the Senior Officers, the Disclosure Administrator. \u25cf Disclosure Statements. The Disclosure Committee may designate two or more officers or employees, at least one of whom shall be knowledgeable about the rules and regulations and disclosure obligations relating to Opendoor (and the applicable SEC and stock exchange rules and regulations with respect thereto) and at least one of whom shall be knowledgeable about financial reporting, who can, acting together, including in consultation with outside legal counsel at their discretion, to review the Disclosure Statements (other than the SEC Filings) when circumstances do not permit the full Disclosure Committee to meet and review such Disclosure Statements. \u25cf Subcommittees. The Disclosure Committee shall appoint members to subcommittees as necessary, appropriate or desirable to discuss and review less material issues that may be within the expertise of such members. One member shall be designated to be the reporter for such subcommittee and shall keep minutes of each of the subcommittee\u2019s meetings. The subcommittee reporter should distribute the minutes to each subcommittee member prior to the next full Disclosure Committee meeting and should present such minutes for discussion to the full Disclosure Committee at the next Disclosure Committee meeting. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 56 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b115", + "block_sequence": 115, + "block_sha256": "4497359324ac50f192297a542cd037cd1349acbdb81f37f5baaf5f470f9f8c9b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 115, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "e8fa2f31e9699c018dd7931929072448d760e2a1334213246864b4a037ce1991", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof056.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b116", + "block_sequence": 116, + "block_sha256": "10b26a2421bc624ee218efe3288307608d108b694e23873eaeb569c2c06e8ead", + "block_type": "paragraph", + "char_count": 4135, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 116, + "char_end": 4135, + "char_start": 0, + "fragment_sha256": "6450f935406dd3ded314cafa84866cb697736fa09cf90f487f0ff6d2f5ca4762", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "4 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 RESPONSIBILITIES Subject to the supervision and oversight of the Senior Officers, the Chief Accounting OfficerCorporate Controller has sole decision-making responsibilities for the primary responsibilities of the Disclosure Committee described below, which may be delegated by the Chief Accounting OfficerCorporate Controller to one or more of its members: 1. Disclosure Controls and Procedures. Assisting the Senior Officers in designing and establishing controls and other procedures (which may include controls and other procedures currently in use by Opendoor) to ensure that (i) information required to be disclosed by Opendoor in order to comply with federal and state securities laws is recorded, processed, summarized and reported accurately and on a timely basis, and (ii) such information is accumulated and communicated to the Senior Officers and the Disclosure Committee to allow timely decisions regarding such required disclosure (the \u201cDisclosure Controls\u201d).2 2. Internal Control Over Financial Reporting. To the extent required by applicable law, rule or regulation, assisting the Senior Officers in monitoring the integrity and effectiveness of Opendoor\u2019s internal control over financial reporting. The Disclosure Committee should work closely with the finance department and internal auditors, if any, to ensure that internal controls are designed and operating effectively and that disclosures are appropriate. 3. Collection of Information. Ensuring that information potentially required to be disclosed is accumulated and communicated to the Disclosure Committee, as well as testing and confirming the reliability of the accumulated information. 4. Certification Obligations. Assisting the Company\u2019s executive officers in complying with their certification obligations under the Exchange Act, which should include a discussion and review of the Disclosure Controls, the information accumulated, and any follow-up that may be necessary. 5. Preparation of Time and Responsibilities Schedules. Preparing (or reviewing, if prepared by other Company personnel) and updating a detailed time and responsibilities schedule for each Annual Report and Quarterly Report, definitive proxy statement and definitive information statement to be filed pursuant to the Exchange Act, and each Current Report as deemed necessary by the Disclosure Administrator or the Senior Officers. 6. Reviewing Disclosure Statements. SReviewing and supervising the preparation of the Disclosure Statements and, prior to the filing, issuance or posting, reviewing all Disclosure Statements to ensure such statements are fair, accurate, complete and timely and presenting them for review to the Senior Officers. 7. Evaluating Disclosure Controls and Internal Control Over Financial Reporting. Assisting the Senior Officers in evaluating the effectiveness and integrity of (a) the Disclosure Controls as of the end of the period covered by the Annual Report and each Quarterly Report and (b) to the extent required by applicable law, rule or regulation, Opendoor\u2019s internal control over financial reporting in connection 2 The Disclosure Committee should consider the following: what information it needs; the source of such information; how it can be captured or accumulated; how the information should be processed, summarized or communicated; who should have access to and review the information; and various other steps and processes leading to the decision of whether and how to disclose the information in a Disclosure Statement. The Disclosure Committee should consider how far down the chain of responsibility to go to assure itself of the completeness of the information-gathering process. Rather than develop new information flows, the Disclosure Committee should first consider whether existing information flows are adequate or can be enhanced as well as the applicability of systems from other industries similar to the Company. 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Meeting with the Audit and Risk Committee. The Disclosure Committee or the Disclosure Administrator (or one or more of the Senior Officers), on behalf of the Disclosure Committee, will meet with the Audit and Risk Committee as part of the Disclosure Committee\u2019s regular review of the Annual Report and each Quarterly Report (and other Disclosure Statements, when applicable and as deemed necessary, appropriate or desirable by the Senior Officers) to ensure the disclosure of the following items to the Audit and Risk Committee: 8. (a) the due diligence procedures undertaken by the Senior Officers with respect to the Disclosure Statement at issue; (b) any issues of concern that were uncovered in the due diligence process; (c) the contents of the Senior Officers\u2019 personal certifications, if applicable; and (d) the contents of any disclosure regarding (i) the effectiveness of the Disclosure Controls, (ii) all significant deficiencies in the design or operation of Opendoor\u2019s internal controls that could adversely affect Opendoor\u2019s ability to record, process, summarize and report financial data, (iii) any material weakness in Opendoor\u2019s internal controls, (iv) changes in Opendoor\u2019s internal controls or in other factors that could significantly affect Opendoor\u2019s internal controls or (v) any fraud, whether or not material, that involves management or other employees who have a significant role in Opendoor\u2019s internal controls. 9. Disclosure Best Practices. Conducting a preliminary evaluation early in a reporting cycle of the Disclosure Controls so that any necessary changes can be implemented prior to the actual evaluation that is as of the end of the period covered by the Annual Report or Quarterly Report, as applicable, as well as regularly monitoring the financial press, online forums and other third party forums for comments and criticisms targeted at or applicable to Opendoor, and periodically reviewing the filings with the SEC made by other companies in the same industry as Opendoor and other related industries to ensure that the Senior Officers and other members of Opendoor\u2019s management remain apprised of relevant trends in corporate disclosure practices. 10. Training. Periodically conduct training for the Disclosure Committee with respect to developments in best practices for disclosure committees, new legal, regulatory and compliance developments impacting the responsibilities of the Disclosure Committee and any developments in related 3 The issues and questions that can be raised in evaluating internal control over financial reporting include: (1) whether the financial reporting systems are adequate to produce consistently accurate results; (2) whether adequate controls exist to reduce the risk of fraud; (3) whether the Company has monitored and evaluated its internal controls during the reporting period; (4) whether any irregularities involve management or employees who play a significant role in the internal controls or could have an effect on the Company\u2019s financial statements; (5) whether any deficiencies in internal controls have: (i) been identified through internal control reviews (questionnaires), internal audit reports and other means; (ii) been corrected or are the subject of current remedial action; (iii) been the subject of an auditor\u2019s management letter; or (iv) prevented the preparation of financial statements in accordance with U.S. generally accepted accounting principles; (6) what is being done to address any identified deficiencies; (7) whether anything came to the attention of the personnel responsible for the preparation of financial reports which would indicate the possibility of significant undisclosed financial exposures or the need for a restatement of prior period financial statements; (8) any whistleblower activities from in-house personnel, particularly those related to the finance function or any disagreement or matter that has received significant discussion with the outside auditors; (9) whether the reportable conditions set forth in the outside auditors\u2019 letter, if applicable, have been corrected; (10) whether any communications (oral or written) from customers, suppliers, regulatory agencies or lenders concerning noncompliance with laws or agreements exists; and (11) whether any waivers or requests for waivers of the corporate ethics, insider trading and conduct rules for executive officers, directors and other key employees have occurred. Formatted: Justified, Right: 0.07\" Formatted: List Paragraph, Justified, Indent: First line: 0\", Numbered + Level: 1 + Numbering Style: 1, 2, 3, \u2026 + Start at: 1 + Alignment: Left + Aligned at: -0.43\" + Indent at: 0.07\", Tab stops: 0.57\", Left Formatted: Body Text, Left, Indent: Left: 0\", Space Before: 4.1 pt, Tab stops: Not at 0.57\" Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 58 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b119", + "block_sequence": 119, + "block_sha256": "5209b88d4def3c767dc1dbf4884fe92846fd73e9dfc65674a8761b3ffdf1ad45", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 119, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b702682da3e3d7ffe3d31d9414ffa659eb6f74b864be2a3faa4e4be865b12fd2", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof058.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b120", + "block_sequence": 120, + "block_sha256": "b113ead6cf9615c35153cd0dc2410b949ca2d9d632fc37a57e5b7a3dd610492a", + "block_type": "paragraph", + "char_count": 1534, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 120, + "char_end": 1534, + "char_start": 0, + "fragment_sha256": "451aa4ab6c18b154f514381a5a6155320dd08c14706edb9e99de64bda6537533", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "6 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 law enforcement priorities, enforcement actions or case law. 11. Disclosure Committee Self-Assessment. Periodically reviewing, discussing and assessing its own performance, as well as the Disclosure Committee\u2019s purpose and, responsibilities and membership, and seeking input with respect thereto from senior management, the Audit and Risk Committee and others as deemed necessary, as well as reviewing and assessing the adequacy of this Charter and periodically notifying the Audit and Risk Committee of any proposed changes. Any proposed changes to the role or responsibilities of the Disclosure Committee shall be recommended to the Senior Officers for approval and implementation according to the procedures described above. The Disclosure Committee shall also periodically review Opendoor\u2019s Corporate Disclosure Policy and present recommendations for changes to such policy, if any, to the Senior Officers. 12. Other Responsibilities. Performing such other responsibilities as the Senior Officers may assign the Disclosure Committee from time to time, in accordance with terms of this Charter. (As adopted by the Audit and Risk Committee of the Board of Directors on December 18, 2020, and amended on December 6, 2021, December 7, 2022 and December 6, 2023, and re-approved on August 22, 2024, and amended on [___], 2025) Formatted: Font: Not Bold Formatted: Centered, Indent: Left: 0.05\", Hanging: 0.01\" Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 59 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b121", + "block_sequence": 121, + "block_sha256": "6e84de429af1020a3c180ac8df7b7cbae8c44de6771125f59ec48caa3f79b5f1", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 121, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "aa5ef01b74fe39d0c536b2c1e42a8b43457b6ad033a86d7f0547e6712a6aa6d6", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof059.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b122", + "block_sequence": 122, + "block_sha256": "0ee1c457fd89d10f17fef611ee9b541f0bc03a699469b39f4b5b6610591eee2b", + "block_type": "paragraph", + "char_count": 75, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 122, + "char_end": 75, + "char_start": 0, + "fragment_sha256": "b23c84cc87f7aa0432410dd07d475b1ce0cf28e6d2600832ce17d8baf912e05d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit 4 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 60 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b123", + "block_sequence": 123, + "block_sha256": "fcff74548d7953413a93810fe2bccb321a455f747a7c84e83d816713bd242061", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 123, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "7b4b8e3bd15b4f4ada172ae453d1e8ba6fa9938d832489da59e5a2bfa26df672", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof060.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b124", + "block_sequence": 124, + "block_sha256": "756c5d60ecff00f56f3644b6701a9a4707cc82d9a3ad01df6cda6947ccea1063", + "block_type": "paragraph", + "char_count": 3431, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 124, + "char_end": 3431, + "char_start": 0, + "fragment_sha256": "326ce8a8b433eb47a050e4e73cfdf0a8147b86f090d4b03f5ae0f386954770c7", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 CHARTER OF THE NOMINATING AND CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS OF OPENDOOR TECHNOLOGIES INC. AUGUST 22, 2024 I. PURPOSE OF THE COMMITTEE The purposes of the Nominating and Corporate Governance Committee (the \u201cCommittee\u201d) of the Board of Directors (the \u201cBoard\u201d) of Opendoor Technologies Inc. (the \u201cCompany\u201d) shall be to identify individuals qualified to serve as directors of the Company and on committees of the Board; to recommend to the Board the director nominees for election at the next annual meeting of shareholders; to advise the Board with respect to the Board composition, procedures and committees; to develop and recommend to the Board a set of corporate governance guidelines applicable to the Company; and to oversee the evaluation of the Board and the Company\u2019s management. II. COMPOSITION OF THE COMMITTEE The Committee shall consist of two or more directors, as determined from time to time by the Board. Each member of the Committee shall be qualified to serve on the Committee pursuant to the requirements of the Nasdaq Stock Market LLC (\u201cNasdaq\u201d), subject to any available exception, and any additional requirements that the Board deems appropriate. The chairperson of the Committee shall be designated by the Board; provided that if the Board does not so designate a chairperson, the members of the Committee, by a majority vote, may designate a chairperson. Any vacancy on the Committee may be filled by majority vote of the Board. No member of the Committee shall be removed except by majority vote of the Board. III. MEETINGS AND PROCEDURES OF THE COMMITTEE The Committee shall meet as often as it determines necessary to carry out its duties and responsibilities, but at least once annually. The Committee, in its discretion, may ask members of management or others to attend its meetings (or portions thereof) and to provide pertinent information as necessary. The Committee may form subcommittees for any purpose that the Committee deems appropriate and may delegate to such subcommittees such power and authority as the Committee deems appropriate; provided, however, that the Committee shall not delegate to a subcommittee any power or authority required by any law, regulation or listing standard to be exercised by the Committee as a whole. A majority of the members of the Committee present in person or by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other shall constitute a quorum. The vote of a majority of the members of the Committee present at any meeting at which a quorum is present shall be the act of the Committee, except as may be otherwise specifically provided by statute, the Certificate of Incorporation or the Bylaws of the Company. The Committee shall maintain minutes of its meetings and records relating to those meetings and shall report regularly to the Board on its activities, as appropriate. The provisions of the Company\u2019s certificate of incorporation (as amended from time to time, the \u201cCertificate of Incorporation\u201d), the Company\u2019s bylaws (as amended from time to time, the \u201cBylaws\u201d) relating to meetings of the board of directors of the Company shall apply equally to meetings of the committee unless otherwise stated herein. 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DUTIES AND RESPONSIBILITIES OF THE COMMITTEE A. Board Candidates and Nominees The Committee shall have the following duties and responsibilities with respect to Board candidates and nominees: (a) To assist in identifying, recruiting and, if appropriate, interviewing and evaluating candidates to fill positions on the Board, including persons suggested by shareholders or others. The Committee may, if it deems appropriate, establish procedures to be followed by shareholders in submitting recommendations for Board candidates. The Committee will, periodically, review the procedures it uses to identify, recruit, interview and evaluate Board nominees and candidates, including the procedures to be followed by shareholders to submit recommendations. (b) To review the background and qualifications of individuals being considered as director candidates. Among the qualifications considered in the selection of candidates, the Committee shall look to the criteria set forth in the Company\u2019s Corporate Governance Guidelines and such other relevant factors that the Committee considers appropriate in the context of the needs of the Board, including factors that could impair the independence or create potential conflicts of interest, such as interlocking directorships and familial or substantial social, civic or philanthropic relationships with members of management. (c) To recommend to the Board the director nominees for election by the shareholders or appointment by the Board, as the case may be, pursuant to the Certificate of Incorporation and Bylaws, which recommendations shall be consistent with the criteria for selecting directors established by the Board from time to time. (d) To review the suitability for continued service as a director of each Board member when his or her term expires and, in accordance with the Corporate Governance Guidelines, when he or she has a material change in status, including, but not limited to, an employment change. B. Board Composition and Procedures The Committee shall have the following duties and responsibilities with respect to the composition and procedures of the Board as a whole: (a) To review annually with the Board the composition of the Board as a whole and to recommend, if necessary, measures to be taken so that the Board reflects the appropriate balance of knowledge, experience, skills, expertise and diversity required for the Board as a whole and contains at least the minimum number of independent directors required by Nasdaq. (b) To review periodically the size of the Board and to recommend to the Board any appropriate changes. (c) To make recommendations on the frequency and structure of Board meetings. (d) To make recommendations concerning any other aspect of the procedures of the Board that the Committee considers warranted, including but not limited to procedures with respect to the waiver by the Board of any Company rule, guideline, procedure related to corporate governance or corporate governance principle. C. Board Committees The Committee shall have the following duties and responsibilities with respect to the committee structure of the Board: (a) To monitor the functioning of the committees of the Board and to make recommendations for any changes, including the creation and elimination of committees. (b) To review annually committee size, membership and composition, including chairpersonships, and recommended any changes to the Board for approval, and to recommend individual directors to fill any vacancy that Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 62 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b127", + "block_sequence": 127, + "block_sha256": "dea8cec6c8774b5520935d02c0224ffe277c00d50eecd96ceed8f72545054050", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 127, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "15a1db6e825bd278f17440749b3ce4958d652e5c09206e5615c97414f857e83f", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof062.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b128", + "block_sequence": 128, + "block_sha256": "ef6fe51db9e7697023980302e3b288a16932b84dfed085b679dc46518258ddf3", + "block_type": "paragraph", + "char_count": 168, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 128, + "char_end": 168, + "char_start": 0, + "fragment_sha256": "bb40ebe547977782dbc25063ca1b59f07abb5a2b582fa25ede39ef33101853e7", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 might occur on any committee of the Board. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 63 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b129", + "block_sequence": 129, + "block_sha256": "acdc2397c7f1ee8017d156bdc33ad0649749ff5ca3c953f6843aa1d5b6044521", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 129, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "2d298ad3cec967097c3827e2db9d12f1a2e3376d86826a748706e0a7db07ab13", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof063.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b130", + "block_sequence": 130, + "block_sha256": "4cd0d68b19ca114cce87d1d1b6be70a9b7e3b085ba8cfcddada229aad9fbc829", + "block_type": "paragraph", + "char_count": 2985, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 130, + "char_end": 2985, + "char_start": 0, + "fragment_sha256": "07a868444d901c76a358593c9417f1b59dcde33157ecf9be997a4dac1d2e799c", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "4 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 (c) To recommend that the Board establish such special committees as may be desirable or necessary from time to time in order to address ethical, legal or other matters that may arise. The Committee\u2019s power to make such a recommendation under this Charter shall be without prejudice to the right of any other committee of the Board, or any individual director, to make such a recommendation at any time. D. Corporate Governance The Committee shall have the following duties and responsibilities with respect to corporate governance: (a) To develop and recommend to the Board a set of corporate governance guidelines for the Company, which shall be consistent with any applicable laws, regulations and listing standards. At a minimum, the corporate governance guidelines developed and recommended by the Committee shall address the following: (i) Director qualification standards. (ii) Director responsibilities. (iii) Director access to management and, as necessary and appropriate, independent advisors. (iv) Director compensation, including principles for determining the form and amount of director compensation, and for reviewing those principles, as appropriate. (v) Director orientation and continuing education. (vi) Management succession, including policies and principles for the selection and performance review of the chief executive officer, as well as policies regarding succession in the event of an emergency or the retirement of the chief executive officer. (vii) Annual performance evaluation of the Board. (b) To review periodically the corporate governance guidelines adopted by the Board to assure that they are appropriate for the Company, and to recommend any desirable changes to the Board. (c) To review periodically and provide oversight with respect to the Company\u2019s strategy, initiatives and policies concerning environmental, social and governance (\u201cESG\u201d) matters. (d) To consider any other corporate governance issues that arise from time to time, and to develop appropriate recommendations for the Board. E. Evaluation of the Board and its committees The Committee shall be responsible for overseeing an annual evaluation of the Board as a whole and its committees, and shall evaluate and report to the Board on the performance and effectiveness of the Board. The Committee may establish procedures to allow it to exercise this oversight function. F. Miscellaneous The Committee shall perform such additional activities, and consider such other matters, consistent with the scope of the Committee\u2019s responsibilities under this Charter, the purposes of the Committee, the Company\u2019s Bylaws and applicable Nasdaq rules. V. EVALUATION OF THE COMMITTEE The Committee shall, on an annual basis, evaluate its performance. The Committee shall deliver to the Board a report, which may be oral, setting forth the results of its evaluation. 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REVIEW OF CHARTER The Committee shall annually review and assess the adequacy of this Charter and recommend any proposed changes to the Board for approval. VII. INVESTIGATIONS AND STUDIES; OUTSIDE ADVISERS The Committee may conduct or authorize investigations into or studies of matters within the Committee\u2019s scope of responsibilities, and may retain, at the Company\u2019s expense, such independent counsel or other consultants or advisers as it deems necessary. The Committee shall have the sole authority to retain or terminate any search firm to be used to identify director candidates, including sole authority to approve the search firm\u2019s fees and other retention terms, such fees to be borne by the Company. * * * While the members of the Committee have the duties and responsibilities set forth in this Charter, nothing contained in this Charter is intended to create, or should be construed as creating, any responsibility or liability of members of the Committee, except to the extent otherwise provided under applicable U.S. federal or state law. (As adopted by the Board of Directors on September 30, 2021, re-approved by the Board of Directors on February 9, 2023, and amended by the Board of Directors on December 21, 2023 and August 22, 2024) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 65 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b133", + "block_sequence": 133, + "block_sha256": "73434733612c91579c30b0c98483c9d9607be1548bcd8d20daa6c5df8c5c8377", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 133, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "91a1807932e26dc9092b31deda39eb718f3ec97bb727ca0361046d8d9a431646", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof065.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b134", + "block_sequence": 134, + "block_sha256": "2dea3736cc73775d5dcf867fb55c5296a9b174349ed5f4a06c508309c6a1c14d", + "block_type": "paragraph", + "char_count": 75, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 134, + "char_end": 75, + "char_start": 0, + "fragment_sha256": "edf61bdcd45d3c45ff1206e9150e5b9690dc69e233a9ae14839ef623f8e52231", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "Exhibit 5 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 66 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b135", + "block_sequence": 135, + "block_sha256": "3def725de04b55bacf02bab767f08bfc83dcc55fbe55188755813e075c54bf67", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 135, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ca1d0ab4351aeccf59bce0d6adca3bd3057b24ea9b22490a9dda9d6f2e561f57", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof066.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b136", + "block_sequence": 136, + "block_sha256": "ac8c066e88e58238bc1168fa8efa74ffb283a17518009f105548a64e6ab45bb6", + "block_type": "paragraph", + "char_count": 3334, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 136, + "char_end": 3334, + "char_start": 0, + "fragment_sha256": "c63730bcea4728face4de45961838e259bf83b0d3b52afc693ca00a96c4f87c3", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 OPENDOOR TECHNOLOGIES INC. CORPORATE DISCLOSURE POLICY AUGUST 22[___], 20245 1. PERSONS SUBJECT TO THIS POLICY This policy applies to all directors, officers, other employees, and individual consultants and contractors of Opendoor Technologies Inc. and its subsidiaries (collectively, \u201cOpendoor\u201d). Individuals subject to this policy are responsible for ensuring that members of their households also comply with this policy. This policy also applies to any entities controlled by individuals subject to the policy, including any corporations, limited liability companies, partnerships or trusts. 2. CORPORATE DISCLOSURE POLICY 2.1 Purpose of This Policy. Opendoor has adopted this Corporate Disclosure Policy to prevent inappropriate or selective disclosure of material nonpublic information regarding the company. This policy also establishes guidelines for disclosure of material nonpublic information to the investing public, financial market analysts, the media, and any persons who are not Opendoor employees or a member of our Board of Directors in accordance with the requirements of the fair disclosure regulation (\u201cRegulation FD\u201d) adopted by the Securities and Exchange Commission (the \u201cSEC\u201d) under the Securities Exchange Act of 1934, as amended. For more information on Regulation FD, see Section 2.7 below. The disclosure of material information by Opendoor generally will be made only through press releases, filings with the SEC or other means reasonably designed to provide broad, non-selective distribution of the information to the public. 2.2 What is \u201cMaterial\u201d Information? Information is \u201cmaterial\u201d if there is a substantial likelihood that a reasonable investor would consider it important in making an investment decision, or if a reasonable investor would view it as altering the total mix of information available. In short, material information includes any information that could reasonably affect the price of our stock. The SEC emphasizes that materiality must be judged on a case-by-case basis. The following is a nonexclusive list of several types of information or events that may be considered material: \u25cf financial results or forecasts for a given fiscal period, including (but not limited to): revenue, contribution profit, contribution margin, adjusted EBITDA, adjusted net income/loss, and home resales; \u25cf important business developments like significant transactions and new (or changes to existing) partnerships; \u25cf significant changes to major business lines or products (i.e., launching a new major product, or exiting or winding down a large market or product); \u25cf new business partnerships or joint ventures; \u25cf acquisitions or sales of companies, business units or other assets; \u25cf high-level strategy regarding pricing changes or policies on an aggregate basis; \u25cf pending public or private sales of debt or equity securities; \u25cf possible tender offers; \u25cf changes to senior management or directors or control of Opendoor; \u25cf declaration of stock splits, dividends or changes in dividend policy and repurchase plans; \u25cf major contract awards or cancellations or other contracts with vendors, or other developments regarding licensors, collaborators, customers or suppliers; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 67 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b137", + "block_sequence": 137, + "block_sha256": "61f331b1647e92cd330e82cc892a9527bcdcc7611144bf6d918e2812e6c2077b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 137, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "048d72111808824bf800fb16411db644263d925d3d62e529606fc60aff1e7626", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof067.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b138", + "block_sequence": 138, + "block_sha256": "a139c6fedfa11f6460f48de1cf0aea483578db511f3cc4f321be901f757414bf", + "block_type": "paragraph", + "char_count": 3478, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 138, + "char_end": 3478, + "char_start": 0, + "fragment_sha256": "3d727600ae69f0a96148b95243699301fc4bd293ec2b74c3bc77868c4fc70cd8", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 \u25cf significant write-offs and material impairments; \u25cf significant litigation proceedings, filings or results; \u25cf material cybersecurity incidents; \u25cf regulatory and other government investigations, settlements or developments; or \u25cf impending bankruptcy or receivership. 2.3 What is \u201cNonpublic\u201d Information? Information is \u201cnonpublic\u201d if it has not been disclosed to the general public by means of a press release, SEC filing, or other medium of disclosure that is reasonably designed to provide broad, non-exclusionary distribution of the information to the public. Disclosure to even a large group of analysts is not, in and of itself, disclosure to the public. In addition, disclosure on Opendoor\u2019s website is not, in and of itself, disclosure to the public. 2.4 Company Spokespersons and Disclosure Committee 2.4.1 Company Spokespersons. We have designated each of the following individuals as Opendoor\u2019s authorized spokespersons for disclosure of all material nonpublic information (the \u201cSpokespersons\u201d): \u25cf Our Chief Executive Officer \u25cf Our Chief Financial Officer \u25cf Our Chief Legal Officer \u25cf Such other individuals to whom the foregoing may delegate such responsibility from time to time. All public disclosures of information and communications with analysts, investors, potential investors, stockholders, media, and other members of the public about Opendoor will be made by the designated Spokespersons. A Spokesperson may designate other officers or employees of Opendoor or outside investor relations or public relations representatives to respond to inquiries as they determine to be appropriate. 2.4.2 Disclosure Committee. We have created a corporate disclosure committee of the Company (the \u201cDisclosure Committee\u201d), which is comprised of the individuals designated in the Disclosure Committee Charter (as may be modified from time to time). The key responsibilities of the Disclosure Committee include overseeing production and review of (a) material information about Opendoor that will be disclosed either publicly or to government regulators when required, and (b) information that will be required to be disclosed on a timely basis by Opendoor in its SEC filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, definitive proxy materials, press releases and investor presentations containing financial information, earnings guidance, information about material acquisitions or dispositions or other information material to Opendoor\u2019s security holders, and any other similar information and materials to ensure such information is accurate, fair, timely and complete. The Disclosure Committee, in consultation with our legal counsel, and, as applicable, with the Security Executives designated in the Company\u2019s Cybersecurity Disclosure Policy and Proceduressuch other individuals at Opendoor as may be necessary or appropriate under the circumstances, will determine whether any information is material and whether and how it needs to be publicly disclosed. 2.5 How to Handle Outside Inquiries. Inquiries should be directed as follows: \u25cf Inquiries from investors, securities analysts and industry analysts should be directed to our Investor Relations Team: investors@opendoor.com. \u25cf Inquiries from members of the media should be directed to our Communications Team: press@opendoor.com. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 68 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b139", + "block_sequence": 139, + "block_sha256": "229c8af95440e9e0201f5c39dc933d1335e35fde98fcb9e6f08d7bb6098397bc", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 139, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b51ab281c68e03e234f1729684526a0761a527e57af7c8a1be3d8834ade447af", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof068.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b140", + "block_sequence": 140, + "block_sha256": "96f66d459cf176885674b16d8806e71cc11329a1c981fc22be86247386357d31", + "block_type": "paragraph", + "char_count": 3241, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 140, + "char_end": 3241, + "char_start": 0, + "fragment_sha256": "34ddbfcf7c8d3ff641b50e3ae0d18fff2d2c83cb71685d61a0fdd6f64d536577", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 If it is unclear where a request should be directed, please direct to our Investor Relations Team: investors@opendoor.com. The Investor Relations Team and Communication Teams will work to identify an appropriate Spokesperson to address the inquiry if required, or, if appropriate, work with the Disclosure Committee, to designate an appropriate person to respond with respect to specific areas of interest. 2.6 Process for Press Releases, Presentations, Conference Calls and Other Disclosures of Material Information. 2.6.1 Press Releases. We may issue press releases from time to time to disclose information we believe is important or useful to the public, whether or not the information is material. All press releases will be reviewed and approved by the Disclosure Committee and may also be subject to review by our Board of Directors or a committee thereof. The Disclosure Committee may designate one or more contacts for follow-up media inquiries on a press release. Unless specifically designated as a contact in a press release, no one other than a Spokesperson will be authorized to respond to inquiries regarding that press release. A Spokesperson will designate the appropriate person to implement the transmission of the press release through the appropriate communication channels. These duties may include: \u25cf providing any required advance notice of the press release to any stock exchange on which Opendoor\u2019s stock is listed; \u25cf coordinating the transmission of the press release on the national wire service; and \u25cf following confirmation of the transmission of the press release on the national wire service, o transmitting the press release to investment bankers, analysts, and others who may request to be included on an investor relations distribution list; and o contacting the representatives of the local media and others who may request to be included on an investor relations distribution list to inform them of the press release and, if desired, transmitting a copy to them. 2.6.2 Other Statements and Presentations. The Disclosure Committee is responsible for Opendoor\u2019s commitment to completeness and accuracy, and follows a process to ensure our public statements will be the product of good-faith best efforts of all persons involved to present the information fully and fairly, together with all relevant and related material information. The Disclosure Committee will determine, in questionable cases, whether we file with or furnish to the SEC a Current Report on Form 8- K with the information to be disclosed to further the broad, non-exclusionary distribution of such information in accordance with Regulation FD. 2.6.3 Conference Calls. We may schedule conference calls from time to time to discuss information that may be material to the investing public and the securities industry. The procedures applicable to such conference calls are: \u25cf Press Release. A reasonable time prior to the initiation of the call, we will disseminate a press release with a description of the material information to be discussed in the call and announcing the time, date, and dial-in information. 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We will not selectively disseminate any additional material nonpublic information after a conference call and will only disclose new material nonpublic information on a conference call if the conference call is held in compliance with Regulation FD (if applicable). See Section 2.7 below for more on Regulation FD requirements. \u25cf Posted Transcript. A transcript or audio file of the conference call, including any other summaries of the conference call, may be posted on our website. 2.6.4 Contact with Financial Market Analysts and Investors. (a) No Contact During Quarterly Quiet Period. We will not discuss or otherwise comment on our financial or business performance, or our business prospects, with analysts, investors, potential investors, stockholders, media, and other members of the public during the period beginning at 11:59 p.m. Eastern Time on the 15th calendar day of the third month of each fiscal quarter and ending when the market opens on the third trading after Opendoor publicly releases its earnings for such quarter (e.g., two full trading days must elapse before the trading window opens), except with respect to our historical financial or business performance or other publicly available information. (b) Communications Only By Designated Spokespersons. Only the Spokespersons or persons designated by them pursuant to this policy may engage in \u201cone-on-one\u201d or similar \u201climited access\u201d communications with financial market analysts and investors. In no event will any material nonpublic information be disclosed (including by way of updating) in such communications. (c) Limitations on Financial Guidance/Forecasts. To promote compliance with Regulation FD, it is our policy not to provide guidance, whether direct or indirect, to financial market analysts and investors with respect to earnings or other material nonpublic forward-looking information, except (i) as part of our regular, quarterly press releases and conference calls, or (ii) in any other Regulation FD-compliant manner that has been approved by the Disclosure Committee. The Spokesperson will not confirm any previous financial guidance or forecasts under facts and circumstances that make the confirmation itself material, unless such information, update, or confirmation is contemporaneously made available to the public in a manner consistent with this policy. Spokespersons should exercise particular caution in interacting with financial market analysts and investors. 2.6.5 Public Speaking Engagements in All Forms (Conferences, Interviews, Presentation Decks, and Other Audiovisual Presentations). Public speaking engagements where you will discuss Opendoor, or you are identified as an Opendoor employee or contractor, require pre-approval by Opendoor. The following procedures apply to each such engagement or presentation: \u25cf Pre-Clearance with Communications Team. The Communications Team must approve in advance all external Opendoor employee speaking engagements. Please submit approval requests by completing this Speaking Request Form. Do not accept a speaking engagement until you have received approval from the Communications Team to do so. The presentation should not include material nonpublic information about Opendoor, unless the Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 70 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b143", + "block_sequence": 143, + "block_sha256": "1a9ce8c2f242e500e3544421f4eafa647df2b6cb3900b1033ad824c600004607", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 143, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "fead8953de7aa4f33c17c01a16555ac297ca7c5aa6144ff208bac70981682d01", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof070.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b144", + "block_sequence": 144, + "block_sha256": "555238ec5da6840afa6dbee5aea9920cc2bb699c5ffca6981148ec066e086425", + "block_type": "paragraph", + "char_count": 3529, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 144, + "char_end": 3529, + "char_start": 0, + "fragment_sha256": "cd56be7fa5940da503623cb8703a8f26106c408b89a8965d1d418be74121f617", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "5 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 presentation complies with Regulation FD and the confidentiality requirements of our Code of Business Conduct and Ethics. See Section 2.7 below for more on Regulation FD requirements. 2.6.6 Written Public Communications About Opendoor (Blog Posts, News or Scientific Articles, Books). Writing about Opendoor publicly in blog posts, news or scientific articles, books or other written materials also requires pre-approval by Opendoor. The following procedures apply to each such materials: \u25cf Pre-Clearance with Communications Team. The Communications Team must approve in advance all blog posts, news or scientific articles, books or other public written communications about Opendoor. Please submit approval requests to press@opendoor.com Note: Opendoor internally-developed marketing materials can skip this step. The written materials should not include material nonpublic information about Opendoor, unless the presentation complies with Regulation FD and the confidentiality requirements of our Code of Business Conduct and Ethics. See Section 2.7 below for more on Regulation FD requirements. Sharing information that Opendoor has developed and released publicly (i.e., forwarding or reposting blog posts, LinkedIn articles, or press releases) does not require any approvals. 2.6.7 Updates to, or Reiterating, Prior Statements. Updating or merely reiterating a previous Opendoor statement is equivalent to making a new statement. Accordingly, we will not confirm or update material information about us that has been previously disclosed to the public (e.g., repeating financial guidance that was given in the past), except in a manner consistent with the procedures for a new disclosure contained in this policy. 2.6.8 Rumors, Transaction Discussions or Unusual Market Activity. Our general policy is that all persons subject to this policy will not comment on unusual market activity or market rumors and will not disclose Opendoor\u2019s involvement in discussions regarding potential transactions. It is critical that we adhere to our \u201cno comment\u201d policy consistently. If we deny rumors that are not correct, for example, we may not be able to effectively avoid commenting in response to an inquiry regarding a rumor that is true or partially true. 2.6.9 Selective Disclosures of Material Nonpublic Information. If you believe that you may have disclosed material nonpublic information to anyone not in compliance with this policy, you must immediately notify a Spokesperson (or, if you are a Spokesperson, notify another Spokesperson) of the information disclosed, the persons to whom the information was disclosed, and any other pertinent information regarding the disclosure. After notification, the Spokesperson will then determine, after consultation with the Chief Legal Officer, whether the information is material and whether to disclose the information in the manner prescribed in this policy. The use of social networks, including corporate blogs, chat boards, Facebook, Twitter and the like, to disclose material, nonpublic information is considered selective disclosure and would violate these Guidelines. 2.7 Regulation FD 2.7.1 Overview. Regulation FD applies to disclosures of material nonpublic information by or on behalf of publicly traded companies to the following categories of persons (each an \u201cOutside Person\u201d): \u25cf broker-dealers and their associated persons, such as analysts; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 71 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b145", + "block_sequence": 145, + "block_sha256": "a2e3279d71298f9cdcc457a340a7e6a5bb44cbf46b2dd17b44bdb59fa4a2b436", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 145, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b6fadf98e2b5be4e25ef1a574b823f6f4ba704b71401d4f38c1099d7e8c180dd", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof071.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b146", + "block_sequence": 146, + "block_sha256": "4473d0ac3652051d369648c11ee8e6f144f6122b4f7bce12129ceccfc7a1b671", + "block_type": "paragraph", + "char_count": 3178, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 146, + "char_end": 3178, + "char_start": 0, + "fragment_sha256": "aa86dd58458f93956346cb5d81f0afaa6bc725b8ffe261035db8d81b1693d48c", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "6 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 \u25cf investment advisers, institutional investment managers, and each of their associated persons; \u25cf investment companies, hedge funds, and each of their affiliated persons; and \u25cf any holder of the company\u2019s securities if it is reasonably foreseeable that the holder will purchase or sell the company\u2019s securities on the basis of the information. 2.7.2 Communications Exempted from Regulation FD. The following types of communications are specifically exempted from the disclosure requirements of Regulation FD: \u25cf Attorneys and Accountants. Communications made to a person who owes the company a duty of trust or confidence, such as attorneys or accountants; \u25cf Parties under NDA. Communications made to a person under a non-disclosure agreement (\u201cNDA\u201d) or contract where they have expressly agreed to maintain the information in confidence; and \u25cf Some Registered Securities Offerings. Communications made in connection with registered securities offerings, other than offerings expressly excluded under Regulation FD. 2.7.3 Requirements for a Publicly Traded Company to Disclose Material Nonpublic Information. Regulation FD requires that whenever a publicly traded company or a person acting on its behalf discloses material nonpublic information to an Outside Person and none of the exceptions of Section 2.7.2 apply, the company must make a public disclosure of that same information as follows: \u25cf Intentional Disclosure. If the company or any person acting on its behalf intentionally discloses material nonpublic information, the company must make public disclosure of such information simultaneously; or \u25cf Unintentional Disclosure. If the company or any person acting on its behalf unintentionally discloses material nonpublic information, the company must make a public disclosure of such information as soon as reasonably practicable (but in no event after the later of 24 hours or the commencement of the next day\u2019s trading on the Nasdaq Stock Exchange) after discovery of the disclosure. Discovery happens when a Opendoor officer, director, executive officer, or investor relations or communications officer learns that Opendoor or any person acting on the company\u2019s behalf disclosed information that such director, executive officer, or investor relations or communications officer knows, or is reckless in not knowing, is both material and nonpublic. A \u201cperson acting on the company\u2019s behalf\u201d is any employee or agent of the company who regularly communicates with market professionals or our stockholders, or a senior official. A senior official is defined as any director, executive officer, investor relations, or communications officer, or other person who performs a similar function. 3. CONSEQUENCES FOR NOT COMPLYING WITH THIS POLICY Any person subject to this policy who communicates about our business with analysts, investors, potential investors, stockholders, media, or other members of the public without the prior consent of a Spokesperson or another authorized officer, or who otherwise discloses our information in violation of Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 72 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b147", + "block_sequence": 147, + "block_sha256": "13245fd4fd4530ba783ad696edb56ea6d5067ab708d854a1f046ff02a9856098", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 147, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "633d8376a73d2878c654b525f2c74d3a323c3e7c787ef93f979b393985eab5a6", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof072.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b148", + "block_sequence": 148, + "block_sha256": "3f583eeca04441dc23872d0440aff02361dff2bddbeab350ef37a2a7720e8def", + "block_type": "paragraph", + "char_count": 830, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 148, + "char_end": 830, + "char_start": 0, + "fragment_sha256": "705ea34ef9f978678f415e3d8e42a82ad136ccb1ebf4e93572276682ec2e5487", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "7 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 this policy, will be subject to disciplinary action, which may include termination. These communications could also violate our Insider Trading and Trading Window Policy. 4. CHANGES TOREVIEW OF THIS POLICY The Disclosure Committee shall periodically review this policy. Recommendations for Changes changes to this policy require approval by Opendoor\u2019s board of directors or a duly appointed committee of Opendoor\u2019s board of directors. 5. QUESTIONS If you have any further questions about any aspect of this policy, please contact the Legal Team. (As adopted by the Board of Directors on December 18, 2020, and amended by the Board of Directors on December 7, 2021, December 21, 2023, and August 22, 2024) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 73 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b149", + "block_sequence": 149, + "block_sha256": "2505c3f33750aaa167163a0d1663b5d9cb747399915515329e1d93cf67423209", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 149, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ed39adc3cc227426bdf905109f0521b50949558c460d0d8b0fe2f86400af3162", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof073.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b150", + "block_sequence": 150, + "block_sha256": "f246808deed35b7683c8e5f835982968df30581b7df75202770ed49dd716eb82", + "block_type": "paragraph", + "char_count": 1276, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 150, + "char_end": 1276, + "char_start": 0, + "fragment_sha256": "db3e9289139258208ff5e5c6e1a8abe838125746a51b9e8a30e97617f41be4a2", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MCKAY LAW, LLC Michael C. McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT B-1 NOTICE TO CURRENT OPENDOOR STOCKHOLDERS OF PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF DERIVATIVE ACTIONS TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF THE OPENDOOR TECHNOLOGIES INC. COMMON STOCK (TICKER SYMBOL: OPEN) AS OF JUNE 27, 2025. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE RELATES TO A PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 74 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b151", + "block_sequence": 151, + "block_sha256": "bfdb8cde0266e3952d82aad6a9adfe842422e0ee3f36d928196c193d45c2d7ed", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 151, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "80db4a32952ced07697578139612b082ede3be8a5d787904423b3f0a47e2c8ca", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof074.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b152", + "block_sequence": 152, + "block_sha256": "60961160fe5e79cdf224a8d6cd0d26b5c9469946d25ba06345ec0f29dcca6b6c", + "block_type": "paragraph", + "char_count": 2289, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 152, + "char_end": 2289, + "char_start": 0, + "fragment_sha256": "d8ceb5ce0a65a29bea17da96ed120bc18ac52d8f4a26f4b94a7804c50a294d4e", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 OF STOCKHOLDER DERIVATIVE LITIGATION AND CONTAINS IMPORTANT INFORMATION REGARDING YOUR RIGHTS. IF THE COURT APPROVES THE SETTLEMENT OF THE DERIVATIVE ACTIONS, OPENDOOR TECHNOLOGIES INC. (\u201cOPENDOOR\u201d OR THE \u201cCOMPANY\u201d) STOCKHOLDERS WILL BE FOREVER BARRED FROM CONTESTING THE APPROVAL OF THE PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE, AND FROM PURSUING RELEASED CLAIMS. THIS ACTION IS NOT A \u201cCLASS ACTION.\u201d THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT. THE RECITATION OF THE BACKGROUND AND CIRCUMSTANCES OF THE SETTLEMENT CONTAINED HEREIN DOES NOT CONSTITUTE THE FINDINGS OF THE COURT. IT IS BASED ON REPRESENTATIONS MADE TO THE COURT BY COUNSEL FOR THE SETTLING PARTIES. IF YOU HOLD OPENDOOR COMMON STOCK FOR THE BENEFIT OF ANOTHER, PLEASE PROMPTLY TRANSMIT THIS DOCUMENT TO SUCH BENEFICIAL OWNER. PLEASE TAKE NOTICE that this action is being settled on the terms set forth in a Stipulation of Settlement, dated June 27, 2025 (the \u201cStipulation\u201d). The purpose of this Notice is to inform you of: \u2022 the existence of the above-captioned derivative action captioned Gera v. Palihapitiya et al., No. 2:23-cv-02164-MTL (the \u201cGera Action\u201d), pending in the United States District Court for the District of Arizona (the \u201cCourt\u201d); \u2022 the existence of derivative actions pending in the Court of Chancery of the State of Delaware and the United States District Court for the District of Delaware captioned: In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642- PAF (Del. Ch.) (the \u201cDelaware Chancery Action\u201d), Juul v. Wu et al., No. 1:23-cv-00705- MN (D. Del.) (the \u201cJuul Action\u201d), and Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN (D. Del.) (the \u201cWoods Action\u201d), respectively (collectively, with the Gera Action, the \u201cDerivative Actions\u201d); \u2022 the proposed settlement between Plaintiffs1 and Defendants reached in the Derivative Actions (the \u201cSettlement\u201d); 1 All capitalized terms used in this notice, unless otherwise defined herein, are defined as set forth in the Stipulation. The Settlement also resolves all matters raised in litigation demands made to Opendoor\u2019s board of directors. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 75 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b153", + "block_sequence": 153, + "block_sha256": "345740d24e1042f2177a5c898ae8818ea2f2330541042c10c9bf84e25a87ab42", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 153, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a62628d946e5e599b6721db445e5570694e6faf61e4a92e827225b30037e4f30", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof075.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b154", + "block_sequence": 154, + "block_sha256": "910737c7e318d7560c1e15491d869796057cc19162e8929c620407e14cfe53a4", + "block_type": "paragraph", + "char_count": 2895, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 154, + "char_end": 2895, + "char_start": 0, + "fragment_sha256": "0e77b2825a9be27bdb5942fae104d3b8c71069c44499c61f325b72bd137239bb", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 \u2022 the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement and dismissal of the Gera Action and Released Claims with prejudice; \u2022 The amount of fees and expenses to be paid to Plaintiffs\u2019 Counsel by Defendants\u2019 insurers; and \u2022 Plaintiffs\u2019 and Ingrao\u2019s monetary service awards. This Notice describes what steps you may take in relation to the Settlement. This Notice is not an expression of any opinion by the Court about the truth or merits of Plaintiffs\u2019 claims or Defendants\u2019 defenses. This Notice is solely to advise you of the proposed Settlement of the Derivative Actions and of your rights in connection with the proposed Settlement. Summary On June 27, 2025, Opendoor, in its capacity as a nominal defendant, entered into the Stipulation to resolve the Derivative Actions. The Derivative Actions were filed on behalf of Opendoor in this Court, the Delaware Court of Chancery, and the U.S. District Court for the District of Delaware against certain current and former directors and officers of the Company, SCH Sponsor II LLC (\u201cSponsor\u201d), and against the Company as a nominal defendant. The Stipulation and the settlement contemplated therein (the \u201cSettlement\u201d), subject to the approval of the Court, are intended by the Settling Parties to fully, finally, and forever compromise, resolve, discharge, dismiss, and settle the Released Claims and to result in the complete dismissal of the Derivative Actions with prejudice, upon the terms and subject to the conditions set forth in the Stipulation. The proposed Settlement requires the Company to adopt certain corporate governance reforms and procedures, as outlined in Exhibit A to the Stipulation. In light of the substantial benefits conferred upon Opendoor by Plaintiffs\u2019 Counsel\u2019s efforts, the Company and Plaintiffs\u2019 Counsel have participated in negotiations regarding the attorneys\u2019 fee and expenses to be paid by Defendants\u2019 insurers to Plaintiffs\u2019 Counsel, and have agreed that Defendants\u2019 insurers shall pay to Plaintiffs\u2019 Counsel $1.95 million in attorneys\u2019 fees and expenses, subject to Court approval. Plaintiffs\u2019 Counsel shall also apply to the Court for service awards to be paid to each of the Plaintiffs and Ingrao in the amount of two thousand five hundred dollars ($2,500.00) each (the \u201cService Awards\u201d), to be paid out of any attorneys\u2019 fees and expense award. This Notice does not describe all of the details of the Stipulation. For full details of the matters discussed herein, please see the full Stipulation and its exhibits posted on the Company\u2019s website, www.__________, contact Plaintiff Gera\u2019s counsel at the address listed below, or inspect the full Stipulation and its exhibits filed with the Clerk of the Court. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 76 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b155", + "block_sequence": 155, + "block_sha256": "07b45380d89c3d4d384fbeb3a0da6ee75ec747d183de6768239c6235c5038471", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 155, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a06d442d67a103c9b7e74bef00f0a84f183e7b458d1d77aa3d85d64e87906238", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof076.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b156", + "block_sequence": 156, + "block_sha256": "335aac2478b827b0e78be84d0b83d612568775262d084cd33c794cc77ad839d0", + "block_type": "paragraph", + "char_count": 3251, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 156, + "char_end": 3251, + "char_start": 0, + "fragment_sha256": "a3a885c83b4e6dbb7e27cb0e1564e2837f5ab58f57e874ba9745039b4d092421", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 What are the Lawsuits About? The Derivative Actions are respectively brought on behalf of nominal defendant Opendoor and allege, among other things, that the Individual Defendants breached their fiduciary duties to the Company by inter alia: allegedly issuing and/or causing the Company to issue materially false or misleading statements leading up to and after a business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. Plaintiffs allege that the Individual Defendants did not disclose certain material information relating to Opendoor\u2019s algorithms and financial prospects, the value of the Opendoor\u2019s legacy business, and certain alleged conflicts of interest. Certain of the Derivative Actions, including the Gera Action, also allege that the Individual Defendants and Sponsor are liable to the Company under the Securities Exchange Act of 1934, including pursuant to Section 10(b) and 14(a) of the Securities Exchange Act of 1934, by allegedly making and/or causing the Company to make misrepresentations in the Company\u2019s proxy statement filed on DEFM14A with the United States Securities and Exchange Commission (the \u201cSEC\u201d) on November 30, 2020, in other filings with the SEC, and in other public statements regarding the foregoing. Why is there a Settlement of the Derivative Actions? No court has decided in favor of Plaintiffs or Defendants in the Derivative Actions. Instead, the Settling Parties have agreed to the Settlement to avoid the distraction, costs, and risks of further litigation, and because the Company has determined that the corporate governance reforms and procedures that the Company will adopt as part of the Settlement provide substantial benefits to Opendoor and its stockholders. Defendants have denied and continue to deny each and every claim and contention alleged by the Plaintiffs in the Derivative Actions and any allegation of wrongdoing or liability arising out of, based on, or relating in any way to the events, conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Derivative Actions. Nonetheless, Defendants have entered into the Stipulation, without admitting or conceding any merit, fault, liability, wrongdoing, or damage whatsoever, because they have concluded that it is desirable for the Derivative Actions to be fully and finally settled in this matter upon the terms and conditions set forth in the Stipulation. The Settlement Hearing, and Your Right to Object to the Settlement On _________ __, 2025, the Court entered an order preliminarily approving the Stipulation and the Settlement contemplated therein (the \u201cPreliminary Approval Order\u201d) and providing for notice of the Settlement to be made to Current Opendoor Stockholders. The Preliminary Approval Order further provides that the Court will hold a hearing (the \u201cSettlement Hearing\u201d) on ________ __, 2025 at __:__ _.m. before the Honorable Michael T. Liburdi, United States District Court for the District of Arizona, Sandra Day O\u2019Connor U.S. Courthouse, 401 W. Washington Street, Suite 524, Phoenix, AZ 85003 to, among other Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 77 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b157", + "block_sequence": 157, + "block_sha256": "18da0c896ba3bcf74f6e2c046f5628582b40435ff943dba2d39bbc142e8167ba", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 157, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "8c731887c5b21d43c82f739b0dd632ed47b0b9c7b90b7c084768446d1059cb1d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof077.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b158", + "block_sequence": 158, + "block_sha256": "e9bc3615720fc2c3cc7e69cadd8ac0320fc1d1de4a936db1626f0740c28ca7ce", + "block_type": "paragraph", + "char_count": 3479, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 158, + "char_end": 3479, + "char_start": 0, + "fragment_sha256": "55268a354c24497076c950b95c3df3641f274bb75578676a3d2d79f6d91f9c78", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 things: (i) determine whether the proposed Settlement is fair, reasonable and adequate and in the best interests of the Company and its stockholders; (ii) consider any objections to the Settlement submitted in accordance with this Notice; (iii) determine whether a judgment should be entered dismissing all claims in the Gera Action with prejudice, and releasing the Released Claims against the Released Persons; (iv) determine whether the Court should approve the Fee and Expense Amount agreed upon by the Settling Parties; (v) determine whether the Court should approve the Service Awards, to be paid out of any attorneys\u2019 fees and expense award; and (vi) consider any other matters that may properly be brought before the Court in connection with the Settlement. The Court may, in its discretion, change the date and/or time of the Settlement Hearing without further notice to you. The Court also has reserved the right to hold the Settlement Hearing telephonically or by videoconference without further notice to you. If you intend to attend the Settlement Hearing, please consult the Court\u2019s calendar and/or the website of Opendoor, www. _____, for any change in date, time or format of the Settlement Hearing. Any Current Opendoor Stockholder who wishes to object to the fairness, reasonableness, or adequacy of the Settlement as set forth in the Stipulation, or to the attorneys\u2019 fees and expense request by Plaintiffs\u2019 Counsel, may file with the Court a written objection. An objector must at least twenty-one (21) calendar days prior to the Settlement Hearing: (1) file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel a written objection to the Settlement setting forth (a) the nature of the objection; (b) proof of ownership of Opendoor common stock as of June 27, 2025 and through the date of the filing of any such objection, including the number of shares of Opendoor common stock held and the date of purchase or acquisition; (c) any and all documentation or evidence in support of such objection; (d) the identities of any cases, by name, court, and docket number, in which the stockholder or his, her, or its attorney has objected to a settlement in the last three years; and (2) if intending to appear and requesting to be heard at the Settlement Hearing, he, she, or it must, in addition to the requirements of (1) above, file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel (a) a written notice of his, her, or its intention to appear at the Settlement Hearing, (b) a statement that indicates the basis for such appearance, (c) the identities of any witnesses he, she, or it intends to call at the Settlement Hearing and a statement as to the subjects of their testimony, and (d) any and all evidence that would be presented at the Settlement Hearing. Any objector who does not timely file and serve a notice of intention to appear in accordance with this paragraph shall be foreclosed from raising any objection to the Settlement and shall not be permitted to appear at the Settlement Hearing, except for good cause shown. IF YOU MAKE A WRITTEN OBJECTION, IT MUST BE ON FILE WITH THE CLERK OF THE COURT NO LATER THAN ________ __, 2025. The Clerk\u2019s address is: Clerk of the Court Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 78 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b159", + "block_sequence": 159, + "block_sha256": "552e890561a6632872c15aa8139f0af3d6a71eccca6bc17f67b728c94749569f", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 159, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "267ff7ce9bc5742ced7852da8cec8c2dbb85de48cddc98dc0ebcd8716090cf7d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof078.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b160", + "block_sequence": 160, + "block_sha256": "44d531931d2655e0ae35f8b4bf2585b8519d92cce0278d6c5b950cc0de119017", + "block_type": "paragraph", + "char_count": 2027, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 160, + "char_end": 2027, + "char_start": 0, + "fragment_sha256": "c0cbcf29a0c9a6c25ab8ef493b821a52968147a5f0b4330fee051d69288e6959", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 U.S. DISTRICT COURT, DISTRICT OF ARIZONA 401 W. Washington St., Suite 130, SPC 1 Phoenix, AZ 85003 YOU ALSO MUST DELIVER COPIES OF THE MATERIALS TO PLAINTIFFS\u2019 COUNSEL AND DEFENDANTS\u2019 COUNSEL SO THEY ARE RECEIVED NO LATER THAN ________ __, 2025. Counsel\u2019s addresses are: Counsel for Plaintiff Gera: Timothy Brown THE BROWN LAW FIRM, P.C. 767 Third Avenue, Suite 2501 New York, NY 10017 Counsel for Defendants: Lyle Roberts ALLEN OVERY SHEARMAN STERLING US LLP 1101 New York Avenue, N.W. Washington, DC 20005 An objector may file an objection on his, her, or its own or through an attorney hired at his, her, or its own expense. If an objector hires an attorney to represent him, her, or it for the purposes of making such objection, the attorney must serve (either by hand delivery or by first class mail) a notice of appearance on the counsel listed above and file such notice with the Court no later than twenty-one (21) calendar days before the Settlement Hearing. Any Current Opendoor Stockholder who does not timely file and serve a written objection complying with the above terms shall be deemed to have waived, and shall be foreclosed from raising, any objection to the Settlement, and any untimely objection shall be barred. Any objector who files and serves a timely, written objection in accordance with the instructions above, may appear at the Settlement Hearing either in person or through counsel retained at the objector\u2019s expense. Objectors need not attend the Settlement Hearing, however, in order to have their objections considered by the Court. If you are a Current Opendoor Stockholder and do not take steps to appear in this action and object to the proposed Settlement, you will be bound by the Judgment of the Court and will forever be barred from raising an objection to the settlement of the Derivative Actions, and from pursuing any of the Released Claims. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 79 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b161", + "block_sequence": 161, + "block_sha256": "6442fe59a3c47ad3d7d7d0a337735a25f4d7aa9171a679ec68c4fa83ccb4adae", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 161, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "1901e355ff2c2d8869794fcc315ea4e80187298edcdad8d839af4edef9740a7d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof079.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b162", + "block_sequence": 162, + "block_sha256": "e1e9d5e3ac2825afaa35e2826fb024cb2a58fe373474238b9f7e3c95723973e0", + "block_type": "paragraph", + "char_count": 1433, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 162, + "char_end": 1433, + "char_start": 0, + "fragment_sha256": "650238ea41f5e97bd463a6d504ac7c39fb4f2e1d5936f327372c59ca6db9e19f", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 CURRENT OPENDOOR STOCKHOLDERS AS OF JUNE 27, 2025 WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION. Interim Stay and Injunction Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the Settlement itself. Scope of the Notice This Notice provides an overview of the Derivative Actions, the complaints, the terms of the Settlement, and the Settlement Hearing. For a more detailed statement of the matters involved in the Derivative Actions, reference is made to the Stipulation and its exhibits, copies of which may be reviewed and downloaded at the website of Opendoor, www. _____. * * * You may obtain further information by contacting Plaintiff\u2019s Counsel at: Timothy Brown, The Brown Law Firm, P.C., 767 Third Avenue, Suite 2501, New York, NY, 10017, Telephone: (516) 922-5427, E-mail: tbrown@thebrownlawfirm.net. PLEASE DO NOT CALL, WRITE, OR OTHERWISE DIRECT QUESTIONS TO EITHER THE COURT OR THE CLERK\u2019S OFFICE REGARDING THIS NOTICE. 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McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT B-2 SUMMARY NOTICE TO CURRENT OPENDOOR STOCKHOLDERS OF PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF DERIVATIVE ACTIONS TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF THE OPENDOOR TECHNOLOGIES INC. COMMON STOCK AS OF JUNE 27, 2025. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 81 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b165", + "block_sequence": 165, + "block_sha256": "d5ea4f33f24b2d72a43ccc28b2dce7a6f7acd2790406f39e8a02dfb5586648d6", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 165, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a3ff4fd751044e4e7a1b6e6a74dbbf052665b6136cc8657325afe116e8ed38cb", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof081.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b166", + "block_sequence": 166, + "block_sha256": "f76448936967cfc0e87293d38b9021a7c28d690f387e32282e5aac7a982d7bfc", + "block_type": "paragraph", + "char_count": 3060, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 166, + "char_end": 3060, + "char_start": 0, + "fragment_sha256": "da8f86d12743edda9205f1d002bea23d795441981f5208f11d73a5947a09cf34", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 THIS ACTION IS NOT A \u201cCLASS ACTION.\u201d THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT. You are hereby notified that pursuant to an Order of the United States District Court for the District of Arizona (the \u201cCourt\u201d), that the parties have reached an agreement to settle all claims in the above-captioned action Gera v. Palihapitiya et al., No. 2:23-cv-02164- MTL (the \u201cGera Action\u201d) and the following derivative lawsuits: In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642-PAF in the Court of Chancery of the State of Delaware; Juul v. Wu et al., No. 1:23-cv-00705-MN, in the U.S. District Court for the District of Delaware; and Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN in the U.S. District Court for the District of Delaware (collectively, the \u201cDerivative Actions\u201d). The Settlement also resolves all matters raised in litigation demands made to Opendoor Technologies Inc\u2019s (\u201cOpendoor\u201d or the \u201cCompany\u201d) board of directors. Pursuant to an Order of the Court, a hearing (\u201cSettlement Hearing\u201d) will be held on [____], at [____], before the Honorable Michael T. Liburdi at the Court at Sandra Day O\u2019Connor U.S. Courthouse, 401 W. Washington Street, Phoenix, AZ 85003 to consider whether judgment should be entered: (1) approving the terms of the Settlement as fair, reasonable, adequate, and in the best interests of Opendoor and its stockholders; (ii) dismissing with prejudice the Released Claims pursuant to the terms of the Stipulation; and (iii) ruling upon the award of Plaintiffs\u2019 Counsel\u2019s attorneys\u2019 fees and expenses. The Court may, in its discretion, change the date and/or time of the Settlement Hearing without further notice to you. The Court also has reserved the right to hold the Settlement Hearing telephonically or by videoconference without further notice to you. If you intend to attend the Settlement Hearing, please consult the Court\u2019s calendar and/or the website of Opendoor, www. _____, for any change in date, time or format of the Settlement Hearing. If you are a holder of Opendoor common stock, your rights may be affected by these lawsuits and the settlement thereof. The Stipulation of Settlement and exhibits thereto and full Notice of the Settlement may be viewed at www._____. This is just a summary notice of the Settlement. The full Notice of the Settlement contains details about the Gera Action, the Derivative Actions, and Settlement, including what you must do if you choose to object to the Settlement and/or present your objection at the Settlement Hearing. Any objections must be filed with the Court by ________ __, 2025. CURRENT OPENDOOR STOCKHOLDERS AS OF JUNE 27, 2025 WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION. If you have questions about this Settlement, you may contact Plaintiff Samhita Gera\u2019s counsel at the following address: Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 82 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b167", + "block_sequence": 167, + "block_sha256": "af2c0295193adf0788130f89620e18279ce07d53f64abfe23b05bd591c34231d", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 167, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "469406a903a3cc1944d7e350f751ff42202361a3af78eca9139773024171ddee", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof082.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b168", + "block_sequence": 168, + "block_sha256": "163ac1ce4f46a0b2395f8d0884ee731be5b62c33a11860e4aa1fb5a8e8f6dda9", + "block_type": "paragraph", + "char_count": 449, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 168, + "char_end": 449, + "char_start": 0, + "fragment_sha256": "da4e2c0f7e3b90b572174a19e4978847a257f91ac577e67aa820d6fac1b3bffa", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Timothy Brown THE BROWN LAW FIRM, P.C. 767 Third Avenue, Suite 2501 New York, NY 10017 Tel. 516.922.5427 tbrown@thebrownlawfirm.net PLEASE DO NOT CONTACT THE COURT OR THE CLERK\u2019S OFFICE REGARDING THIS NOTICE. If you have any questions about the settlement, you may contact Plaintiff\u2019s counsel listed above. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 83 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b169", + "block_sequence": 169, + "block_sha256": "ab364835118d45b1f39a773adf3562156568ae18add30f6a027a813f2b5ddc91", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 169, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "02d7efa929a46a365910e336d8dbcf5b36b3ceb9c1f2f0ba87876f6014adebf3", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof083.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b170", + "block_sequence": 170, + "block_sha256": "6c507d244c1ac7e9928121d0b4e9f7078f24e199fafadfdba2303d08f105629d", + "block_type": "paragraph", + "char_count": 1211, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 170, + "char_end": 1211, + "char_start": 0, + "fragment_sha256": "659be00939ab7600f08b40c3c06ad665a948f67e66f734c9ff5871bd1241451e", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT C [PROPOSED] ORDER PRELIMINARILY APPROVING DERIVATIVE SETTLEMENT AND PROVIDING FOR NOTICE WHEREAS, Plaintiff Samhita Gera in the above-captioned shareholder derivative action (the \u201cGera Action\u201d) has made an application, pursuant to Federal Rule of Civil Procedure 23.1, for an order: (i) preliminarily approving the Stipulation of Settlement dated June 27, 2025 (the \u201cStipulation\u201d), which, together with the exhibits annexed thereto, sets forth the terms and conditions for the proposed settlement and dismissals of the Derivative Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 84 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b171", + "block_sequence": 171, + "block_sha256": "7c432c6d9e5d907650f8ebf5a8915c0b8ea954af5b06db6c81fca6900ecc5cf3", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 171, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "f3ecbc2ba114bf48beb3b2358b716dd3a101277ea961c94f1ba68854f6b197af", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof084.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b172", + "block_sequence": 172, + "block_sha256": "c307b3b4e24940c876db195bf21f33bfd1cb9e6d39122933ec74d23ca73974e1", + "block_type": "paragraph", + "char_count": 2390, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 172, + "char_end": 2390, + "char_start": 0, + "fragment_sha256": "94472b7a07d79651598093fb52058d0833e48fda2295100e5000493ec1d3bd5d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Actions with prejudice; (ii) approving the form and content of the notice of the Settlement to Current Opendoor Stockholders; and (iii) setting a date for the Settlement Hearing; WHEREAS, all capitalized terms contained herein shall have the same meanings as set forth in the Stipulation (unless otherwise defined herein); and WHEREAS, the Court has read and considered the Stipulation and the exhibits annexed thereto and considered arguments by counsel in favor of preliminary approval of the Settlement, and all Settling Parties have consented to the entry of this Order, NOW THEREFORE, IT IS HEREBY ORDERED: 1. The Court does hereby preliminarily approve, subject to further consideration at the Settlement Hearing, the Stipulation and the settlement set forth therein (the \u201cSettlement\u201d), including the terms and conditions for settlement and dismissals with prejudice of the Derivative Actions. 2. The Settlement Hearing shall be held before the Court on _____________________ ____, 2025 at ______ __.m., at the United States District Court for the District of Arizona, Sandra Day O\u2019Connor U.S. Courthouse, 401 W. Washington Street, Suite 524, Phoenix, AZ 85003, to determine: (i) whether the terms and conditions of the Settlement set forth in the Stipulation are fair, reasonable, and adequate to Opendoor and Current Opendoor Stockholders and should be finally approved by the Court; (ii) whether the Judgment finally approving the Settlement, substantially in the form of Exhibit D attached to the Stipulation, should be entered, dismissing the Gera Action with prejudice, and releasing and enjoining the prosecution of any and all Released Claims; and (iii) whether to award any Fee and Expense Amount to Plaintiffs\u2019 Counsel and Service Awards to each of the Plaintiffs. At the Settlement Hearing, the Court may hear or consider such other matters as the Court may deem necessary and appropriate. 3. The Court approves, as to form and content, the Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Actions (\u201cNotice\u201d) attached as Exhibit B-1 to the Stipulation and the Summary Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 85 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b173", + "block_sequence": 173, + "block_sha256": "0e46e0cb6e42c963daee0a278be5bd9b55089e1de451d33c8644964c24df58cf", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 173, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "256e8b1b0787100e2473bc0465e11f7a6d5fc5382a2893c273d3cc7fdfa45baa", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof085.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b174", + "block_sequence": 174, + "block_sha256": "1516140c0b86103f945133b178c610d81d743ef6d2ba15ad24d1b4e2a710114e", + "block_type": "paragraph", + "char_count": 2334, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 174, + "char_end": 2334, + "char_start": 0, + "fragment_sha256": "e70a801c58dc3988a8aa867aa40dca8dfe27f909788d3568e28af9c82fe666d5", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Actions (\u201cSummary Notice\u201d) attached as Exhibit B-2 to the Stipulation, and finds that publishing the Summary Notice of the Settlement one time in the Investor\u2019s Business Daily, posting a copy of the Notice and the Stipulation, with its exhibits, on the investor relations page of Opendoor\u2019s website through the date of the Settlement Hearing, and filing the Notice and Stipulation, with its exhibits, with the U.S. Securities and Exchange Commission (\u201cSEC\u201d) as exhibits to a Form 8-K, substantially in the manner and form set forth in this Order meets the requirements of Federal Rule of Civil Procedure 23.1 and due process, is the best notice of the Settlement practicable under the circumstances, and shall constitute due and sufficient notice to Current Opendoor Stockholders and any other persons entitled thereto. 4. Not later than twenty-one (21) days following entry of this Order, Opendoor shall cause: (a) the Summary Notice to be published one time in the Investor\u2019s Business Daily, (b) the Notice to be filed in a Form 8-K with the SEC together with the Stipulation (including exhibits thereto), and (c) the Notice together with the Stipulation (including exhibits thereto) to be posted on the investor relations page of Opendoor\u2019s website through the date of the Settlement Hearing. The Notice and Summary Notice shall each contain a link to the investor relations page of Opendoor\u2019s website at which the Notice together with the Stipulation (including exhibits thereto) are posted. 5. Opendoor shall undertake the administrative responsibility, and shall be solely responsible, for paying the costs and expenses related to, and giving notice of, the Settlement to Current Opendoor Stockholders in the manner set forth in paragraph 4 herein. 6. No later than thirty (30) days following entry of this Order, Defendants\u2019 Counsel shall file with the Court, proof, by appropriate affidavit or declaration, of the publication, filing, and posting of the notice of the Settlement pursuant to the terms of this Order. 7. All papers in support of the Settlement, any Fee and Expense Amount and the Service Awards, shall be filed with the Court and served at least twenty-eight (28) days Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 86 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b175", + "block_sequence": 175, + "block_sha256": "7eddedb8f74de0f76cd01e163f20bd4deffabc42f0e0a5a0f794797cfae40587", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 175, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "729121156aa36fe1e70fd7046f6c3a05b9746780207ea6996e4fb8635426c54d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof086.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b176", + "block_sequence": 176, + "block_sha256": "19c1e26b681deada4e028ac76720362ee8b98a079d5a2fa0bd52dd59a6f6f847", + "block_type": "paragraph", + "char_count": 2530, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 176, + "char_end": 2530, + "char_start": 0, + "fragment_sha256": "d17571bfa31bcc5923b25d03fdffdc4e42e9b5a38f85b09dfe9470c9857b9403", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 prior to the Settlement Hearing, and any reply papers shall be filed with the Court at least seven (7) days prior to the Settlement Hearing. 8. Any Current Opendoor Stockholder may object and/or appear and show cause, if he, she, or it has any concern, why the Settlement should not be finally approved as fair, reasonable, and adequate, why the Judgment should not be entered thereon, or why the Fee and Expense Amount and the Service Awards, should not be finally approved; provided, however, unless otherwise ordered by the Court, that no Current Opendoor Stockholder shall be heard or entitled to contest the approval of the terms and conditions of the Settlement, or, if approved, the Judgment to be entered thereon approving the same, or the Fee and Expense Amount and the Service Awards, unless that stockholder has, at least twenty-one (21) days prior to the Settlement Hearing: (1) filed with the Clerk of the Court a written objection to the Settlement setting forth: (a) the nature of the objection; (b) proof of ownership of Opendoor common stock as of the date of the Stipulation of Settlement and through the date of the filing of any such objection, including the number of shares of Opendoor common stock held and the date of purchase or acquisition; (c) any and all documentation or evidence in support of such objection; and (d) the identities of any cases, by name, court, and docket number, in which the stockholder or his, her, or its attorney has objected to a settlement in the last three years; and (2) if a Current Opendoor Stockholder intends to appear and requests to be heard at the Settlement Hearing, such stockholder must have, in addition to the requirements of (1) above, filed with the Clerk of the Court: (a) a written notice of such stockholder\u2019s intention to appear at the Settlement Hearing; (b) a statement that indicates the basis for such appearance; (c) the identities of any witnesses the shareholder intends to call at the Settlement Hearing and a statement as to the subjects of their testimony; and (d) any and all evidence that would be presented at the Settlement Hearing. If a Current Opendoor Stockholder files a written objection and/or written notice of intent to appear, such shareholder must also simultaneously serve copies of such notice, proof, statement, and documentation, together with copies of any other papers or briefs such Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 87 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b177", + "block_sequence": 177, + "block_sha256": "66b4e70517f13f0758cce9a7a8276877cdcda87b6c543fc057a1a3e2e8f538a9", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 177, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "601f385b04b9ca7ccb3f5d4794d79e872aecad88a7015003f129805dd9adc9aa", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof087.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b178", + "block_sequence": 178, + "block_sha256": "0980f67f7ba0f1f7bcbde65d27c2d75574620b86e3cbe417b86dd3c9c8b20535", + "block_type": "paragraph", + "char_count": 2147, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 178, + "char_end": 2147, + "char_start": 0, + "fragment_sha256": "e93dcf29a10e5a0e8de8d640ba8d33e470faaef2461a117aa95cf8ce45a7c6e7", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 shareholder files with the Court (either by hand delivery or by first class mail) upon each of the following: Counsel for Plaintiff Gera: THE BROWN LAW FIRM, P.C. Timothy Brown 767 Third Avenue, Suite 2501 New York, NY 10017 Telephone: (516) 922-5427 Facsimile: (516) 344-6204 E-mail: tbrown@thebrownlawfirm.net Counsel for Defendants: ALLEN OVERY SHEARMAN STERLING US LLP Lyle Roberts 1101 New York Avenue, N.W. Washington, DC 20005 Telephone: 202-508-8000 Email: lyle.roberts@aoshearman.com Any Current Opendoor Stockholder who does not make his, her, or its objection in the manner provided herein shall be deemed to have waived such objection and shall forever be foreclosed from making any objection to the fairness, reasonableness, or adequacy of the Settlement or any Fee and Expense Amount and the Service Awards to Plaintiffs, as set forth in the Stipulation, unless otherwise ordered by the Court, but shall be forever bound by the Judgment to be entered, the dismissal of the Gera Action with prejudice, and any and all of the releases set forth in the Stipulation. 9. All Current Opendoor Stockholders shall be bound by all orders, determinations, and judgments in the Gera Action concerning the Settlement, whether favorable or unfavorable to Current Opendoor Stockholders. 10. Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the Settlement itself. 11. Neither the Settlement, the Stipulation (including any exhibits attached hereto) nor any act performed or document executed pursuant to or in furtherance of the Stipulation or Settlement: (a) is or may be deemed to be or may be offered, attempted to be offered, or used in any way as a presumption, a concession, admission, or evidence of the Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 88 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b179", + "block_sequence": 179, + "block_sha256": "a788bedaca0ab1a4f3cc2af0f43d0b3411630b248d8c6fbb56d280151e326434", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 179, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "08afc5c71447ac23b1a21817e446fd5c978a4827f1ca956f53544b85523d785d", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof088.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b180", + "block_sequence": 180, + "block_sha256": "ddee9686a7645fc1c687b8e0f5da6447217863010870156ab4ab533ee1d9528f", + "block_type": "paragraph", + "char_count": 2295, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 180, + "char_end": 2295, + "char_start": 0, + "fragment_sha256": "31ee27ae6266aa579ef1c763589ef7bc471f6d77cc9cdc659951be5942e1c50e", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 validity or infirmity of any Released Claims, or of any fault, wrongdoing or liability of the Released Persons or Opendoor; (b) is, may be deemed to be, or may be used as a presumption, concession, admission or evidence of any liability, fault, or omission of any of the Released Persons or Opendoor in any civil, criminal, or administrative, or other proceeding in any court, administrative agency, tribunal, or other forum; or (c) is or may be deemed an admission by any Settling Party as to the merits or lack thereof of any claim, allegation, or defense. 12. Neither the Stipulation nor the Settlement, nor any act performed or document executed pursuant to or in furtherance of the Stipulation or the Settlement, shall be admissible in any proceeding for any purpose, except to enforce the terms of the Settlement in court, and except that the Released Persons may file or use the Stipulation, this Order, and/or the Judgment in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, standing, judgment bar, or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 13. The Court reserves the right to adjourn the date of the Settlement Hearing or modify any other dates set forth herein without further notice to Current Opendoor Stockholders and retains jurisdiction to consider all further applications arising out of or connected with the Settlement. The Court may decide to hold the Settlement Hearing telephonically or by videoconference without further notice to Current Opendoor Stockholders. Any Current Opendoor Stockholder (or his, her, or its counsel) who wishes to appear at the Settlement Hearing should consult the Court\u2019s calendar and/or the investor relations page of Opendoor\u2019s website for any change in date, time or format of the Settlement Hearing. The Court may approve the Settlement and any of its terms, with such modifications as may be agreed to by the Settling Parties, if appropriate, without further notice to Current Opendoor Stockholders. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 89 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b181", + "block_sequence": 181, + "block_sha256": "d6b64e47ead664b9dac2d253f47c1133b871d4300f67ce65a26707945f5d907b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 181, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b4b5a50bd4bc54036d5aa5968bbb641ca225d91d8e8685244d9d8a866b757099", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof089.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b182", + "block_sequence": 182, + "block_sha256": "0092b0c9e2f8aaf5a44e5f856b814b4e43b7eee017f1c844acf52b7b2dcc1cb4", + "block_type": "paragraph", + "char_count": 225, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 182, + "char_end": 225, + "char_start": 0, + "fragment_sha256": "a5ece29f1463db12db6daa1dc8b3d060795878ef480a87f394a74164e0faa2e5", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 IT IS SO ORDERED. DATED: HONORABLE MICHAEL T. LIBURDI UNITED STATES DISTRICT JUDGE Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 90 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b183", + "block_sequence": 183, + "block_sha256": "f0d2536710de41bd4050454bd3b9cfc034906914147b8d6d92f4d1af43628234", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 183, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "e4e90423b664e7c49747c2d6a95ef193233327c5d9973d605d005d3aea762f78", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof090.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b184", + "block_sequence": 184, + "block_sha256": "453e6cfdc67450152fd125de0d38f879844fa570c7630a6973ebba2097bdbf3e", + "block_type": "paragraph", + "char_count": 1229, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 184, + "char_end": 1229, + "char_start": 0, + "fragment_sha256": "dc21abfee88853546ab67e128126ed871eeeac5f995af4dc9ca4329c8f6c4832", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT D [PROPOSED] FINAL ORDER AND JUDGMENT This matter came before the Court for hearing, pursuant to this Court\u2019s Order Preliminarily Approving Derivative Settlement and Providing for Notice, dated __________, 2025 (the \u201cPreliminary Approval Order\u201d), on the application of Plaintiff Gera for final approval of the Settlement set forth in the Stipulation of Settlement dated June 27, 2025 (the \u201cStipulation\u201d). Due and adequate notice having been given to Current Opendoor Stockholders as required in said Preliminary Approval Order, and the Court having Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 91 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b185", + "block_sequence": 185, + "block_sha256": "9106cf30985baf9ced5acf20266a6e47ef8517beb0b27c89a2ca03e45fe048f2", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 185, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "04330dcda1d79267ef73826cab99cc37fe0b875341e081477e8d03750b1fe63b", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof091.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b186", + "block_sequence": 186, + "block_sha256": "6e7d7090114f24aa3460a2ba5982eb7659b0ebcc0fc63bb225ccab72ad708f4c", + "block_type": "paragraph", + "char_count": 2314, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 186, + "char_end": 2314, + "char_start": 0, + "fragment_sha256": "a5ca0aed493b56096d86bca5e31cf2253721bc540e43b26ad84b00bea069de88", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 considered all papers filed and proceedings had herein and otherwise being fully informed of the premises and good cause appearing therefore, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that: 1. This Final Order and Judgment (\u201cJudgment\u201d) incorporates by reference the definitions in the Stipulation, and except where otherwise specified herein, all capitalized terms used herein shall have the same meanings as set forth in the Stipulation. 2. This Court has jurisdiction over the subject matter of the Gera Action, including all matters necessary to effectuate the Settlement, and over all Settling Parties. 3. The Court finds that the Settlement set forth in the Stipulation is fair, reasonable, and adequate as to each of the Settling Parties and Current Opendoor Stockholders, and hereby finally approves the Settlement in all respects and orders the Settling Parties to perform its terms to the extent the Settling Parties have not already done so. 4. The Gera Action, all claims contained therein, and any other Released Claims, are hereby ordered as fully, finally, and forever compromised, settled, released, discharged, and dismissed on the merits and with prejudice by virtue of the proceedings herein and this Judgment. The Settling Parties are to bear their own costs, except as otherwise provided in the Stipulation. 5. Upon the Effective Date, Plaintiffs in each of the Derivative Actions, other than Plaintiff Gera in the Gera Action, shall file appropriate papers with the United States District Court for the District of Delaware or Delaware Court of Chancery, as appropriate, to voluntarily dismiss their respective Actions with prejudice. 6. Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be deemed to have, and by operation of this Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons, including any and all claims (including Unknown Claims) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 92 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b187", + "block_sequence": 187, + "block_sha256": "a315b09e4f5987889c006015255f091464142f14245003e9a59e7057229bdf2b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 187, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "a78f51a5cf640d7bf08c061e451f37e80029a6e648546c443f02906a0bef8d12", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof092.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b188", + "block_sequence": 188, + "block_sha256": "8143a6bd404a45a3d48c9f5fc57ea1a2e991e7b48c9e02071ff284bf4dbc6619", + "block_type": "paragraph", + "char_count": 2322, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 188, + "char_end": 2322, + "char_start": 0, + "fragment_sha256": "20fcb634e64d61aed949f272005e21d4887706eaab771246a6eecd6eab8101bb", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 against the Released Persons arising out of, relating to, or in connection with the defense, Settlement, or resolution of the Derivative Actions. 7. Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of the Stipulation. 8. Upon the Effective Date, Opendoor shall be deemed to have, and by operation of this Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons. 9. Upon the Effective Date, Opendoor shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of the Stipulation. 10. Upon the Effective Date, each of the Released Persons shall be deemed to have fully, finally, and forever released, relinquished, and discharged Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons from all claims (including unknown claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims. 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Upon the Effective Date, each of the Released Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting all claims (including Unknown Claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims, or any action or other proceeding against any Plaintiffs and their Related Persons, Plaintiffs\u2019 Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons.. 12. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of the Stipulation. 13. The Court finds that the notice to Current Opendoor Stockholders was made in accordance with the Preliminary Approval Order and provided the best notice practicable under the circumstances to all Persons entitled to such notice, and said notice fully satisfied the requirements of Federal Rule of Civil Procedure 23.1 and the requirements of due process. 14. The Court finds that during the course of the litigation, the Settling Parties and their counsel at all times complied with Federal Rule of Civil Procedure 11. 15. The Court hereby approves the Fee and Expense Amount in the amount of $1.95 million agreed to by Plaintiffs\u2019 Counsel and Defendants and finds that such Fee and Expense Award is fair and reasonable in light of the substantial benefits conferred upon Opendoor by the Corporate Governance Reforms. 16. The Court also hereby awards each of the Plaintiffs and Ingrao $2,500 as Service Awards, to be paid solely out of the Fee and Expense Award. 17. Neither this Judgment, the Stipulation (including any exhibits attached thereto) nor any act performed or document executed pursuant to or in furtherance of the Stipulation or Settlement: (a) is or may be deemed to be or may be offered, attempted to be offered or used in any way as a presumption, a concession, admission, or evidence of the validity or infirmity of any Released Claims, or of any fault, wrongdoing or liability of the Released Persons; (b) is, may be deemed to be, or may be used as a presumption, Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 94 of 95" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b191", + "block_sequence": 191, + "block_sha256": "f4f6d0a60bfc272f7f11510ffc616c95154ec71cfeca56765fd704ad2a91c051", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 191, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ab87d43965a345ad8d028492d3233fa25ede6460eae860ea657b4535c74bf759", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "exhibit991-stipulationof094.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b192", + "block_sequence": 192, + "block_sha256": "9b47a3040769c2f7820e5cdd4f03f23a1863d4a46377b8d2785a22505abe661c", + "block_type": "paragraph", + "char_count": 1945, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", + "block_sequence": 192, + "char_end": 1945, + "char_start": 0, + "fragment_sha256": "eac595dd3ebbeb8f95da1aac9ecfb9d1b94963cf6161d6428d83829fccd02d1c", + "heading_path": [ + "EX-99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", + "table": null, + "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 concession, admission or evidence of any liability, fault, or omission of any of the Released Persons in any civil, criminal, or administrative, or other proceeding in any court, administrative agency, tribunal, or other forum; or (c) is or may be deemed an admission by any Settling Party as to the merits or lack thereof of any claim, allegation, or defense. 18. Neither this Judgment, the Stipulation, nor the Settlement, nor any act performed or document executed pursuant to or in furtherance thereof, shall be admissible in any proceeding for any purpose, except to enforce the terms of the Settlement in court, and except that the Released Persons may file or use the Stipulation and/or this Judgment in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, standing, judgment bar, or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 19. Without affecting the finality of this Judgment in any way, the Court hereby retains continuing jurisdiction over: (a) implementation of the Settlement; and (b) all Settling Parties for the purpose of construing, enforcing, and administering the Stipulation and this Judgment, including, if necessary, setting aside and vacating this Judgment, on motion of a Settling Party, to the extent consistent with and in accordance with the Stipulation if the Effective Date fails to occur in accordance with the Stipulation. 20. This Judgment is a final, appealable judgment and should be entered forthwith by the Clerk in accordance with Federal Rule of Civil Procedure 58. IT IS SO ORDERED. DATED: _______________________ HONORABLE MICHAEL T. 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"passage_sequence": 1, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Document generated by Workiva Inc exhibit991-stipulationof\n\n- 1 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MCKAY LAW, LLC Michael C. McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL STIPULATION OF SETTLEMENT This Stipulation of Settlement, dated June 27, 2025 (the “Stipulation”) is made and entered into by the following Settling Parties (as defined herein), each by and through their respective counsel of record: (1) plaintiff Samhita Gera (“Gera”) in the above-captioned stockholder derivative action (the “Gera Action”), Ryan Carlson (“Carlson”) and Seth Van Dorn (“Van Dorn”), plaintiffs to the consolidated shareholder derivative action captioned In Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 2 of 95 Exhibit 99.1\n\n- 2 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642-PAF pending in the Court of Chancery of the State of Delaware (the “Delaware Chancery Action”), Tammy Juul (“Juul”), plaintiff to the shareholder derivative action captioned Juul v. Wu et al., Case No. 1:23-cv-00705-MN, in the U.S. District Court for the District of Delaware (the “Juul Action”), and Lori Woods (“Woods”) and Makar Stozhyk (“Stozhyk”), plaintiffs in the shareholder derivative action captioned Woods, et al. v. Bain et al., Case No. 1:23-cv-01158- MN in the U.S. District Court for the District of Delaware (the “Woods Action”) (collectively, “Plaintiffs” in the “Derivative Actions”); (2) individual defendants Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice (collectively, the “Individual Defendants”); (3) SCH Sponsor II LLC (“Sponsor”); and (4) nominal defendant Opendoor Technologies Inc. (“Opendoor” or the “Company,” and together with the Individual Defendants and Sponsor, “Defendants”) (“Settling Parties” refers collectively to Plaintiffs and Defendants).1 This Stipulation, subject to court approval, is intended to fully, finally, and forever resolve, discharge, dismiss, and settle any and all Released Claims (as defined in Section IV, ¶1.23), upon the terms and subject to the conditions set forth herein. 1 The Settlement also resolves all matters raised in a litigation demand made on February 3, 2025, by Clifford Raymond (“Raymond”), represented by Vik Pawar Law PLLC and a litigation demand made on January 24, 2025, by Nicholas R. Ingrao (“Ingrao”), represented by Shuman, Glenn & Stecker. Counsel for Raymond and Ingrao have provided written acknowledgments by agreement to this Stipulation that (i) the allegations set forth in their litigation demands arise from the same underlying facts, conduct, events, occurrences, transactions, or allegations set forth or referred to in the Derivative Actions and (ii) the Settlement fully addresses and resolves all the matters raised in the litigation demands. Raymond and Ingrao have represented by written acknowledgment and agreement to this Stipulation that they have no objection to the Settlement on the terms set forth herein. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 3 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b10"], "char_count": 2085, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "06f938fe5616fee60f34acb9e306f1fcaf97cbe1dcdedd7e96220ea1340153b9", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 10, "char_end": 2085, "char_start": 0, "fragment_sha256": "a67e50e2ec6782f727234924a1420451278549f20c4172b4d80a15c67b37f77e", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 3 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 I. BACKGROUND A. The Derivative Actions 1. The Gera Action On October 18, 2023, Plaintiff Gera filed a Verified Shareholder Derivative Complaint on behalf of Opendoor against the Individual Defendants and Sponsor, asserting claims under Section 14(a) of the Exchange Act in the United States District Court for the District of Arizona, (the “Court”). ECF No. 1. On February 8, 2024, the Individual Defendants and Sponsor, and Opendoor, respectively, filed motions to dismiss the complaint in the Gera Action. ECF Nos. 11-14. Plaintiff Gera filed oppositions to those motions on April 22, 2024, and Defendants filed their respective replies on May 30, 2024. ECF Nos. 15-18, 22-24. On August 14, 2024, after hearing oral arguments on the motions to dismiss on June 24, 2024, the Court granted the motions and granted Plaintiff Gera leave to amend. ECF No. 29. On September 12, 2024, Plaintiff Gera filed a Verified Amended Shareholder Derivative Complaint (the “Amended Complaint”) asserting claims under Section 14(a) of the Exchange Act and for breach of fiduciary duty against the Individual Defendants and Sponsor. ECF No. 31. On October 28, 2024, the Individual Defendants and Sponsor, and Opendoor, respectively, filed their motions to dismiss the Amended Complaint. ECF Nos. 36-38 On January 9, 2025, Plaintiff Gera filed her oppositions to those motions. ECF Nos. 43-45. Defendants filed their respective replies on February 14, 2025. ECF Nos. 46-48. On February 25, 2025, Plaintiff Gera filed a Notice of Settlement. ECF No. 50. The next day, proceedings in the Gera Action were stayed upon the Court’s order, and the Court set a deadline for dismissal of the Gera Action on March 25, 2025, absent further motion of the parties. ECF No. 51. On March 25, 2025, the parties to the Gera Action filed a joint motion to extend the deadline for any dismissal of the case in connection with the settlement and for Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 4 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b12"], "char_count": 2242, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "79a9d24a3b5073b6730c359bfaa011a6f20ff61f375f8cea93ed40cd87daa7b6", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 12, "char_end": 2242, "char_start": 0, "fragment_sha256": "5b19ddd7e6d031e224c9466883505ba3f633d9deb32182488520487f527cc05b", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 4 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 the parties to submit formal settlement documentation. ECF No. 52. Thereafter, the Court vacated the dismissal deadline and ordered that the motion for preliminary approval of the settlement be filed by April 25, 2025. ECF No. 53. On April 29, 2025, the Court granted Plaintiff Gera’s unopposed motion to extend the time to file a motion for preliminary approval until June 1, 2025. ECF Nos. 54-55. On June 2, 2025, the Court granted Plaintiff Gera’s unopposed motion to extend the time to file a motion for preliminary approval until June 13, 2025. ECF Nos. 56-57. On June 16, 2025, the Court granted Plaintiff Gera’s unopposed motion to extend the time to file a motion for preliminary approval until June 27, 2025. ECF Nos. 58-59. Plaintiff Gera represents that she has standing to pursue the claims asserted in the Gera Action as a result of having held shares of Opendoor stock continuously from June 18, 2020, through the date of this Stipulation’s execution. 2. The Delaware Chancery Action On March 1, 2023, Plaintiff Carlson filed his Verified Shareholder Derivative Complaint in the District of Arizona, alleging claims under Section 10(b) of the Exchange Act and for breach of fiduciary duty, gross mismanagement, unjust enrichment, aiding and abetting, and waste of corporate assets against certain of the Individual Defendants. On March 15, 2023, Plaintiff Van Dorn filed his Verified Shareholder Derivative Complaint in the District of Arizona, alleging claims under Section 10(b) of the Exchange Act and for breach of fiduciary duty, gross mismanagement, and unjust enrichment against certain of the Individual Defendants. On March 17, 2023, Plaintiffs Carlson and Van Dorn filed a Stipulation to Consolidate both cases and appoint their respective firms co-lead counsel. See Case No. CV-23-00367- PHX-GMS, ECF No. 5. On March 21, 2023, the Court entered an order consolidating the two cases and appointing Rigrodsky Law P.A. and Gainey McKenna & Egleston co-lead counsel in the consolidated derivative matter. See Case No. CV-23-00367-PHX-GMS, ECF No. 6. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 5 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b14"], "char_count": 2309, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a2aff2cde06f7d6551b1fcb79c94e44d0aeadbe2d31fe05c67dc697b1b749336", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 14, "char_end": 2309, "char_start": 0, "fragment_sha256": "6fccd1a6877a0f77ea3b43414bc66cb8b2520688f8e2fe8b241c871b6c58107d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 5 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 On May 12, 2023, the parties agreed to stay their consolidated derivative action, filing a joint stipulation to stay. See Case No. CV-23-00367-PHX-GMS, ECF No. 18. On May 16, 2023, the Court denied the request to stay. See Case No. CV-23-00367- PHX-GMS, ECF No. 19. On June 22, 2023, Plaintiffs Carlson and Van Dorn agreed to voluntarily dismiss their consolidated derivative action and refile in the Court of Chancery of the State of Delaware (the “Delaware Court of Chancery”) pursuant to the Company’s forum selection clause with the agreement that they would receive certain of the Company’s internal books and records. See Case No. CV-23-00367-PHX-GMS, ECF No. 22. On June 22, 2023, Plaintiffs Carlson and Van Dorn filed their stockholder derivative actions on behalf of Opendoor against certain of the Individual Defendants, asserting claims for breach of fiduciary duty, unjust enrichment, aiding and abetting breaches of fiduciary duties, and waste of corporate assets in the Delaware Court of Chancery. See Carlson v. Rice, et al., C.A. No. 2023-0642 (Del. Ch.) and Van Dorn v. Rice, et al., C.A. No. 2023-0643 (Del. Ch.). On July 13, 2023, the Delaware Court of Chancery entered an order granting a joint stipulation submitted by the parties to both actions, to consolidate the actions and to stay the Delaware Chancery Action in deference to proceedings in a related securities class action captioned In re Opendoor Technologies Inc. Securities Litigation, No. CV-22- 01717-PHX- MTL pending in the Court (the “Securities Class Action”). See Delaware Chancery Action, Dkt. Nos. 92109718, 92127514. On January 16, 2025, the Delaware Court of Chancery scheduled the Delaware Chancery Action for a calendar call for April 14, 2025, to explain the lack of substantive activity in the action during the one-year period pre-dating the Delaware Chancery Court’s letter notice. Id. at 97439618. On April 3, 2025, Co-Lead Counsel for plaintiffs in the Delaware Chancery Action submitted a letter on behalf of the parties informing the Delaware Court of Chancery that the Delaware Chancery Action is part of a proposed global settlement- Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 6 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b16"], "char_count": 2272, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "40f822b1bfc08ba8c4fdba1fa3006928ef4ae43f27f27934fa316fbdbfd25ea2", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 16, "char_end": 2272, "char_start": 0, "fragment_sha256": "a8ca776b04b0a3bba287df66b227894da8828ba0d888d38f3bb6502dbde64a76", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 6 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 in-principle to be presented for approval in the Gera Action and requested vacatur of the letter requiring appearance at the call of the calendar. Id. at 98138064. 3. The Juul and Woods Actions On June 29, 2023, Plaintiff Juul filed a Verified Shareholder Derivative Complaint on behalf of Opendoor against certain of the Individual Defendants, asserting claims for breach of fiduciary duty, unjust enrichment, gross mismanagement, aiding and abetting breach of fiduciary duty, waste of corporate assets, and claims under Section 10(b) of the Exchange Act in the United States District Court for the District of Delaware (“District of Delaware”). See Juul Action, ECF No.1. On July 14, 2023, the parties to the Juul Action filed a Joint Stipulation Regarding Service of Process and Stay of Proceedings and [Proposed] Order. Case No. 1:23-cv-00705- MN, ECF No. 6. Pursuant thereto, the parties agreed to stay proceedings in the Juul Action until the Court issued a ruling on motions to dismiss filed in the Securities Class Action. The District of Delaware so-ordered that stipulation on July 17, 2023. See id., ECF No. 7. On October 13, 2023, Plaintiffs Woods and Stozhyk filed a Verified Shareholder Derivative Complaint on behalf of Opendoor against certain of the Individual Defendants, asserting claims for breach of fiduciary duties, unjust enrichment, aiding and abetting breach of fiduciary duties, waste of corporate assets, and violations of Section 14(a) of the Exchange Act, and seeking contribution under Sections 10(b) and 21D of the Exchange Act against certain Individual Defendants in the District of Delaware. See Woods Action, ECF No.1. On November 14, 2023, the parties to the Woods Action filed a Joint Stipulation Regarding Service of Process and Stay of Proceedings and [Proposed] Order. Case No. 1:23- cv-01158-MN, ECF No. 3. Pursuant thereto, the parties agreed to stay proceedings in the Woods Action until the Court issued a ruling on motions to dismiss filed in the Securities Class Action. The District of Delaware so-ordered that stipulation the same day. Id., ECF No. 4. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 7 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b18"], "char_count": 2338, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "43fce75a97ac21bceaf1b5e1877e834bbe985b68fa341882116b0d6b967b0615", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 18, "char_end": 2338, "char_start": 0, "fragment_sha256": "0de03be7672d5ebb66fe04e5b11c9621e3e86e5c17ede6ade4a5c7c611ad3a3d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 7 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 B. Settlement Negotiations In late 2024, the Settling Parties discussed the scheduling of a mediation in early 2025, in which Plaintiffs in the Derivative Actions would be invited to participate. In January 2025, Plaintiffs and Defendants formally agreed to mediate the Derivative Actions on February 7, 2025 (the “Mediation”) before David Murphy, Esq., an experienced mediator with Phillips ADR Enterprises, (the “Mediator”), to attempt to resolve the claims asserted therein. In anticipation of the Mediation, on January 6, 2025, Plaintiff Gera provided Defendants’ Counsel (as defined herein) with a settlement demand that included a comprehensive corporate governance reforms proposal. Plaintiffs Juul, Woods, and Stozhyk also served a settlement demand on Defendants’ Counsel, which also included proposed governance reforms, on January 21, 2025. Plaintiffs Carlson and Van Dorn also made a settlement demand on December 10, 2024, and sent an amended settlement demand incorporating confidential information from the Company’s books and records on December 13, 2024. Defendants also provided Plaintiffs Juul, Woods, and Stozhyk these confidential books and records prior to the Mediation. In early 2025, shortly before the scheduled Mediation, two purported shareholders of Opendoor sent demand letters (“Demands”), asking that the Company litigate substantially similar claims as those made in the Derivative Actions. They have both agreed that the Settlement resolves all potential claims raised by them in the Demands. On February 7, 2025, Plaintiffs’ Counsel and Defendants’ Counsel participated in the full-day Mediation in New York, New York. That day, the Settling Parties made substantial progress towards an agreement in principle on the substantive terms of the settlement, including the corporate governance reforms that Opendoor would adopt as consideration for the settlement as set forth in the term sheet attached hereto as Exhibit A (the “Corporate Governance Reforms”). Thereafter, the Settling Parties continued to engage in good faith settlement negotiations over detailing the terms of the Settlement. On April 25, 2025, the Settling Parties Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 8 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b20"], "char_count": 2514, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b7ab35f1b637cb358ded3a249088acebe7ece7d583cc0e162d603a076fea772f", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 20, "char_end": 2514, "char_start": 0, "fragment_sha256": "7fdc1debfe795ea35c8d74a5eaf50f3b8d2689b387f41930bad043b3d505606d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 8 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 formally executed a settlement term sheet that memorialized the material terms of the settlement (the “Term Sheet”), including the Corporate Governance Reforms that Opendoor agreed to adopt and implement as consideration for the Settlement. After the Settling Parties executed the Term Sheet, and with assistance from the Mediator, the Settling Parties engaged in arm’s length negotiations regarding the attorneys’ fees and expenses to be paid by the Defendants’ insurers to Plaintiffs’ Counsel (defined herein) based upon the substantial benefits conferred upon Opendoor by the Settlement, subject to Court approval. Attorneys’ fees and expenses are not the subject of any agreements between the Settling Parties, other than what is set forth in this Stipulation. II. PLAINTIFFS’ CLAIMS AND THE BENEFITS OF SETTLEMENT Plaintiffs believe that their derivative claims have substantial merit, and Plaintiffs’ entry into this Stipulation is not intended to be and shall not be construed as an admission or concession concerning the relative strength or merit of the claims alleged in the Derivative Actions. However, Plaintiffs and Plaintiffs’ Counsel recognize and acknowledge the significant risk, expense, and length of continued proceedings necessary to prosecute derivative claims against the Individual Defendants and Sponsor through trial and possible appeals. Plaintiffs’ Counsel also have taken into account the uncertain outcome and the risk of any litigation, especially in complex cases such as the Derivative Actions, as well as the difficulties and delays inherent in such litigation. Plaintiffs’ Counsel are also mindful of the inherent problems of establishing demand futility in derivative litigation, and the other possible defenses to the claims alleged in the Derivative Actions. Plaintiffs’ Counsel assert that they have conducted extensive investigation and analysis, including, inter alia: (i) reviewing and analyzing Opendoor’s press releases, public statements, and filings with the SEC; (ii) reviewing and analyzing securities analysts’ reports and advisories and media reports about the Company; (iii) reviewing and analyzing the pleadings contained in the Securities Class Action; (iv) researching the applicable law with respect to the claims alleged in the Derivative Actions and the potential defenses thereto; (v) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 9 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b22"], "char_count": 2428, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c35afa3efa4ebb4f226006c95511db355bb0665911c9f403c8af2e0028650572", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 22, "char_end": 2428, "char_start": 0, "fragment_sha256": "7431bedbc5ad813d7e2f0ebcd5e4efb01d8f7c3ed83f34ace5e7edbcef3bdfba", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 9 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 preparing the complaints in the Derivative Actions and the Amended Complaint in the Gera Action; (vi) preparing briefs in opposition to a request for judicial notice and two motions to dismiss the initial complaint and attending oral argument in the Gera Action; (vii) preparing briefs in opposition to a request for judicial notice and two motions to dismiss the Amended Complaint in the Gera Action; (viii) conducting research into the Company’s corporate governance structure in connection with settlement efforts; (ix) preparing extensive written settlement demands; (x) attending the all-day Mediation and engaging in settlement negotiations with Defendants’ Counsel regarding corporate governance reforms and other issues in an effort to facilitate negotiations; and (xi) negotiating the material terms of the Settlement, and negotiating and drafting the Term Sheet and this Stipulation. Plaintiffs Carlson and Van Dorn were also in possession of certain of the Company’s books and records, which they reviewed and analyzed in anticipation of filing an amended complaint. Based on Plaintiffs’ Counsel’s thorough review and analysis of the relevant facts, allegations, defenses, and controlling legal principles, Plaintiffs’ Counsel believe that the Settlement as set forth in this Stipulation (the “Settlement”) is fair, reasonable, and adequate, and confers substantial benefits upon Opendoor. Based upon Plaintiffs’ Counsel’s evaluation, Plaintiffs have determined that the Settlement is in the best interests of Opendoor and have agreed to settle the Derivative Actions upon the terms and subject to the conditions set forth herein. III. THE INDIVIDUAL DEFENDANTS’ AND SPONSOR’S DENIALS OF WRONGDOING AND LIABILITY The Individual Defendants and Sponsor have denied and continue to deny each and all of the claims and contentions alleged by Plaintiffs in the Derivative Actions. The Individual Defendants and Sponsor have expressly denied and continue to deny all charges of wrongdoing or liability against them arising out of, based upon, or related to, any of the conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Derivative Actions. The Individual Defendants and Sponsor believe that their defenses to all Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 10 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b24"], "char_count": 2466, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3ead2ac0d6a5db300d5b1e9defb4d6dc3ba1ca46f22ab3ef125a2b46a0441699", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 24, "char_end": 2466, "char_start": 0, "fragment_sha256": "de100e40196899c4633877891b8dcdc7a467604cd34ffe195577c75a6853c51a", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 10 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 claims in all the Derivative Actions were meritorious. Had the terms of the Stipulation not been reached, Defendants would have continued to contest Plaintiffs’ allegations vigorously. Nonetheless, Defendants recognize and acknowledge the expense and length of continued proceedings necessary to defend against the claims asserted in the Derivative Actions through trial and possible appeal. Defendants have concluded that it is desirable for the Derivative Actions to be fully and finally settled in the matter and upon the terms and conditions set forth in this Stipulation. Defendants have also taken into account the uncertainty and risks inherent in any litigation, especially in complex cases like this. Accordingly, and without admitting the validity of any of the claims asserted in the Derivative Action, Defendants have, therefore, determined that it is in the best interests of Opendoor for the Derivative Actions to be settled in the manner and upon the terms and conditions set forth in this Stipulation. Defendants agree that the Derivative Actions were filed and pursued in good faith and were not frivolous, as set forth herein. Neither this Stipulation, nor any of its terms or provisions, nor entry of the Judgment (as defined herein), nor any document or exhibit referred or attached to this Stipulation, nor any action taken to carry out this Stipulation, is, may be construed as, or may be used as evidence of the validity or infirmity of any of the Released Claims or an admission by or against any Defendant of any fault, wrongdoing, damage, or concession of liability or non-liability whatsoever. IV. TERMS OF STIPULATION AND AGREEMENT OF SETTLEMENT NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, between Plaintiffs and Defendants, by and through their undersigned counsel, in consideration of the benefits flowing to the Settling Parties from the Settlement, and subject to the approval of the Court pursuant to Federal Rule of Civil Procedure 23.1, that the claims asserted in the Derivative Actions and the Released Claims shall be fully, finally, and forever compromised, settled, discharged, relinquished, dismissed, and released, and the Derivative Actions shall be dismissed with prejudice and with full preclusive effect, upon and subject to the terms and Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 11 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b26"], "char_count": 2049, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "51936e5c312cde827f02301c0a02f925bb0d82b7df63e034e7811cc54c5dad0a", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 26, "char_end": 2049, "char_start": 0, "fragment_sha256": "d716c2bbfc97c607a204285ca3c1d87d522402034be931cf1ae4201127ec9ba6", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 11 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 conditions of this Stipulation, as set forth below. 1. Definitions As used in this Stipulation, the following terms have the meanings specified below: 1.1 “Board” means the Board of Directors of Opendoor. 1.2 “Corporate Governance Reforms” means the Corporate Governance Reforms set forth in Exhibit A attached hereto, which the Company shall adopt, implement, and maintain, pursuant to and in accordance with this Stipulation. 1.3 “Court” means the United States District Court for the District of Arizona. 1.4 “Current Opendoor Stockholders” means any Person or Persons who are record or beneficial owners of Opendoor stock as of the date of this Stipulation, excluding the Individual Defendants, the officers and directors of Opendoor, members of their immediate families, and their legal representatives, heirs, successors, or assigns, and any entity in which any of the Individual Defendants has or has had a controlling interest. 1.5 “Defendants” means, collectively, nominal defendant Opendoor, the Individual Defendants, and Sponsor. 1.6 “Defendants’ Counsel” means Allen Overy Shearman Sterling US LLP and Womble Bond Dickinson US LLP. 1.7 “Delaware Chancery Action” means the derivative action captioned In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642-PAF, pending in the Delaware Court of Chancery. 1.8 “Derivative Actions” means, collectively, the Gera Action, Delaware Chancery Action, Juul Action, and Woods Action, as respectively defined herein. 1.9 “Demands” means litigation demand letters made to Opendoor that arise from substantially the same underlying facts, conduct, events, occurrences, transactions, or allegations set forth or referred to in the Derivative Actions. 1.10 “Effective Date” means the date by which the events and conditions specified in Section IV, ¶6.1 of this Stipulation have been met and have occurred. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 12 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b28"], "char_count": 2346, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "492da0c7dd0d5ec8b72e9dc6b0038e76018cbec520a3e70ecf9141eabcde3bec", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 28, "char_end": 2346, "char_start": 0, "fragment_sha256": "4f965c079393aad38705f98cda9164514c927dc7d60532c569b2946e341e2447", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 12 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1.11 “Final” means when the last of the following, with respect to the Judgment approving this Stipulation, substantially in the form of Exhibit D, attached hereto, shall have occurred: (a) the expiration of the time to file a notice of appeal from the Judgment without a notice of appeal having been filed; or (b) if an appeal has been filed, the court of appeal has either affirmed the Judgment or dismissed that appeal and the time for any reconsideration or further appellate review has passed; or (c) if a higher court has granted further appellate review, that court has either affirmed the underlying Judgment or affirmed the court of appeal’s decision affirming the Judgment or dismissing the appeal. For purposes of this paragraph, an “appeal” shall not include any appeal that concerns only the issue of attorneys’ fees and expenses or the payment of service awards to Plaintiffs and Ingrao. Any proceeding or order, or any appeal or petition for review pertaining solely to the application for attorneys’ fees, costs, or expenses, and/or service awards to Plaintiffs and Ingrao shall not in any way delay or preclude the Judgment from becoming Final. 1.12 “Gera Action” means the derivative action captioned Gera v. Palihapitiya et al., No. 2:23-cv-02164-MTL, pending in the Court. 1.13 “Individual Defendants” means defendants Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, and John Rice, each of whom is a defendant in one or more of the Derivative Actions. 1.14 “Judgment” means the Final Order and Judgment to be rendered by the Court upon final approval of the Settlement, substantially in the form attached hereto as Exhibit D. 1.15 “Juul Action” means the derivative action captioned Juul v. Wu et al., No. 1:23- cv-00705-MN, pending in the District of Delaware. 1.16 “Notice” means the Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Actions, substantially in the form attached hereto as Exhibit B-1. 1.17 “Opendoor” or the “Company” means Opendoor Technologies Inc. and Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 13 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b30"], "char_count": 2386, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8ce612108fced26644e40b7599acbfa3a53cbba154fc2742dbf6aae032c3807c", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 30, "char_end": 2386, "char_start": 0, "fragment_sha256": "77ddc323c9d94d60157ecd638d1e47c6aeee08cb74f3d534141c0c17f75229c7", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 13 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 includes all of its current and former subsidiaries, parent entities, predecessors, successors, affiliates, assigns, officers, directors, employees, and agents. 1.18 “Person” means an individual, corporation, limited liability company, professional corporation, partnership, limited partnership, limited liability partnership, association, joint venture, joint stock company, estate, legal representative, trust, unincorporated association, government or any political subdivision or agency thereof, and any business or legal entity, and each of their spouses, heirs, predecessors, successors, representatives, or assignees. 1.19 “Plaintiffs” means Samhita Gera, Ryan Carlson, Seth Van Dorn, Tammy Juul, Lori Woods, and Makar Stozhyk, each of whom is a plaintiff in a Derivative Action. 1.20 “Plaintiffs’ Counsel” means The Brown Law Firm, P.C., Gainey McKenna & Egleston, Rigrodsky Law, P.A., The Rosen Law Firm, P.A., and Bragar Eagel & Squire, P.C. 1.21 “Preliminary Approval Order” means the Order to be entered by the Court, substantially in the form attached hereto as Exhibit C. 1.22 “Related Persons” means each of a Person’s past or present officers, directors, employees, stockholders, members, partners, investors, agents, affiliates, parents, subsidiaries, divisions, departments, attorneys, accountants, auditors, advisors, insurers, co- insurers, reinsurers, spouses, immediate family members, heirs, executors, personal representatives, estates, administrators, trusts, predecessors, successors, and assigns, or other individual or entity in which the Person has a controlling interest, and each and all of their respective past or present officers, directors, employees, stockholders, members, partners, investors, agents, affiliates, parents, subsidiaries, divisions, departments, attorneys, accountants, auditors, underwriters, advisors, insurers, co-insurers, re-insurers, spouses, immediate family members, heirs, executors, personal representatives, estates, administrators, trusts, predecessors, successors, and assigns. 1.23 “Released Claims” shall collectively mean: (i) any and all claims for relief (including Unknown Claims, as defined herein), actions, suits, claims, debts, disputes, Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 14 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b32"], "char_count": 2499, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4b77813c346241cd50b1add83e6cc7be4e12346f8295063b01622bdbbd88dd47", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 32, "char_end": 2499, "char_start": 0, "fragment_sha256": "6ac1df1e9697cc95539b32ea6faa9567a91fd85cb591f1e1b7be27184ad9465b", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 14 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 demands, rights, liabilities, sums of money due, judgments, matters, issues, charges of any kind (including, but not limited to, any claims for interest, attorneys’ fees, expert or consulting fees, and any other costs, expenses, amounts, or liabilities whatsoever), and claims of relief or causes of action of every nature and description whatsoever, known or unknown, whether or not concealed or hidden, asserted or unasserted, fixed or contingent, accrued or unaccrued, liquidated or unliquidated, at law or in equity, matured or unmatured, foreseen or unforeseen, whether arising under federal or state statutory or common law, or any other law, rule, or regulation, whether foreign or domestic, that were asserted derivatively by Plaintiffs or could have been asserted by Opendoor in the Derivative Actions, or that have been, could have been, or could in the future be, asserted in any forum or proceeding derivatively on behalf of Opendoor by Plaintiffs or any other stockholder of Opendoor, against each and every Defendant and the Released Persons, arising out of, relating to, or based upon the facts, transactions, matters, events, occurrences, acts, disclosures, statements, filings with the United States Securities and Exchange Commission (the “SEC”), practices, sale of stock, omissions, or failures to act that were alleged, identified, or referred to in the complaints filed in the Derivative Actions; and (ii) any claims, known or unknown, in connection with, based upon, arising out of, or relating to the institution, prosecution or Settlement, of the Derivative Actions, but excluding any claims to enforce the Settlement set forth in this Stipulation. 1.24 “Released Persons” means collectively, Defendants and their respective Related Persons. “Released Person” means, individually, any of the Released Persons. 1.25 “Releasing Parties” means Plaintiffs, all other Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders), Plaintiffs’ Counsel, and Opendoor. “Releasing Party” means, individually, any of the Releasing Parties. 1.26 “Securities Class Action” means the securities class action captioned In re Opendoor Technologies Inc. Securities Litigation, No. CV-22- 01717-PHX-MTL, filed in the Court. 1.27 “Settlement” means the settlement and compromise of the claims in the Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 15 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b34"], "char_count": 2265, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fe83f7c298b153bb76e03cd46199f4e65fa3bbe726e49c3db7a5146d7d37aa6a", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 34, "char_end": 2265, "char_start": 0, "fragment_sha256": "0472610d95191a8725d217a99d86e2cbc7321f87c9f96fb6160698bf15862cb5", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 15 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Derivative Actions upon the terms and conditions contained in this Stipulation. 1.28 “Settlement Hearing” means the hearing or hearings at which the Court will review the adequacy, fairness, and reasonableness of the Settlement. 1.29 “Settling Parties” means, collectively, each of the Plaintiffs (on behalf of themselves and derivatively on behalf of Opendoor) and each of the Defendants. “Settling Party” means, individually, any of the Settling Parties. 1.30 “Sponsor” means SCH Sponsor II LLC. 1.31 “Summary Notice” means the Summary Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Actions, substantially in the form attached hereto as Exhibit B-2. 1.32 “Term Sheet” means the Settlement Term Sheet dated April 25, 2025, which sets forth the material terms of the resolution of the Derivative Actions. 1.33 “Unknown Claims” means any Released Claim(s) that Plaintiffs, Opendoor, or a Current Opendoor Stockholder does not know of or suspect to exist in his, her, or its favor at the time of the release of the Released Persons, including claims which, if known by him, her, or it, might have affected his, her, or its settlement with and release of the Released Persons, or might have affected his, her, or its decision not to object to this Settlement. In this regard, with respect to any and all Released Claims, the Settling Parties stipulate and agree that, upon the Effective Date, Plaintiffs, Opendoor, and Current Opendoor Stockholders shall be deemed to have, and by operation of the Judgment shall have, expressly waived, the provisions, rights and benefits conferred by or under California Civil Code section 1542, and any other law of the United States or any state or territory of the United States or any other state, sovereign, or jurisdiction, or any principle of common law that is similar, comparable, or equivalent to section 1542, which provides: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 16 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b36"], "char_count": 2290, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cca97b0850dd701b4cfedc7019bc457cbc31af96022913388b0dea9d9f3cbb1e", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 36, "char_end": 2290, "char_start": 0, "fragment_sha256": "34c7816920ba894154cbf0fbcf7b05ff2854b01b88c33b3cd41d58ccc89cf992", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 16 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY. Plaintiffs and Opendoor acknowledge, and each Current Opendoor Stockholder is deemed to acknowledge, that they may hereafter discover facts in addition to or different from those which he, she, or it now knows or believes to be true with respect to the subject matter of the Released Claims, but they stipulate and agree that, upon the Effective Date of the Settlement, Plaintiffs, Opendoor, and each Current Opendoor Stockholder shall expressly waive and by operation of the Judgment, shall have, fully, finally, and forever compromised, settled, released, discharged, and extinguished any and all Released Claims, known or unknown, suspected or unsuspected, contingent or non-contingent, accrued or unaccrued, apparent or unapparent, whether or not concealed or hidden, which now exist, or heretofore have existed, or may hereafter exist upon any theory of law or equity now existing or coming into existence in the future, including, but not limited to, conduct that is negligent, intentional, with or without malice, or a breach of any duty, law, or rule, without regard to the subsequent discovery of additional or different facts. The Settling Parties acknowledge, and Current Opendoor Stockholders shall be deemed by operation of the Judgment to have acknowledged, that the foregoing waiver was separately bargained for and is a key element of this Stipulation of which this release is a part. 1.34 “Woods Action” means the derivative action captioned Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN, pending in the District of Delaware. 2. Terms of the Settlement 2.1 Within ninety (90) days of the date that the Court enters the Judgment, unless an alternative timeline is provided in the Corporate Governance Reforms, Opendoor shall adopt the Corporate Governance Reforms identified in Exhibit A attached hereto, subject to the terms of this Stipulation, and maintain the Corporate Governance Reforms for four (4) years thereafter, subject to the terms of this Stipulation. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 17 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b38"], "char_count": 2411, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5017231846deed1b2839a23b41740c458daf36bcca206abbb3cdf339d2b28da9", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 38, "char_end": 2411, "char_start": 0, "fragment_sha256": "8f692bc0e0da47f4655df712c23d9a3425825946f5d07dc949dbd01b13c12619", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 17 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2.2 Opendoor acknowledges and agrees that the filing, pendency, and settlement of the Derivative Actions was the cause of the Company’s decision to adopt, implement, and maintain the Corporate Governance Reforms. 2.3 Opendoor also acknowledges and agrees that the Corporate Governance Reforms confer substantial benefits to Opendoor and Opendoor’s stockholders. 2.4. All of the Corporate Governance Reforms shall be fully and faithfully adopted and implemented, provided, however, that a majority of the members of the Board may, subject to the requirements set forth in this paragraph, amend or eliminate any one or more of the Corporate Governance Reforms if the Board determines in a good faith exercise of the Board members’ business judgment that the implementation or maintenance of such Corporate Governance Reform(s) would be contrary to any applicable laws or regulations, including the Board’s fiduciary duties. In such event, the independent directors of the Board, to the extent their fiduciary obligations allow based upon their good faith exercise of business judgment, shall as soon as practicable adopt an amended or substitute reform that in the view of such independent directors address similar goals, purposes, and/or functions as the original Corporate Governance Reform(s) and shall give notice to Plaintiffs’ Counsel of such amendment, substitution, and/or elimination. For the sake of clarity, nothing herein precludes the Board in its good faith exercise of its fiduciary obligations from establishing functions or roles within Opendoor or the Board, or from implementing amendments or modifications to provisions of the policies and procedures addressed by the Corporate Governance Reforms, to the extent such functions, roles, amendments or modifications do not conflict with the changes implemented by the Corporate Governance Reforms. 3. Notice 3.1 As soon as practicable, counsel for Plaintiff Gera shall submit this Stipulation together with its exhibits to the Court and shall apply for entry of the Preliminary Approval Order, substantially in the form of Exhibit B attached hereto, requesting: (a) preliminary approval of the Settlement set forth in this Stipulation; (b) approval of the form and manner Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 18 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b40"], "char_count": 2340, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2ca836b09c95b4930e1649de5b0607bf9ddbbb32ee7077e5ce440cf99ccef163", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 40, "char_end": 2340, "char_start": 0, "fragment_sha256": "8d28a3bef321bb6d9dadbd6d95795503cc9969ec145faf87c2268e61badde5aa", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 18 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 of providing notice of the Settlement to Current Opendoor Stockholders; and (c) a date for the Settlement Hearing. 3.2 Within twenty-one (21) days following the Court’s preliminary approval of the Settlement, Opendoor shall cause (a) the Summary Notice to be published one time in the Investor’s Business Daily, (b) the Notice to be filed in a Form 8-K with the SEC together with this Stipulation (including exhibits hereto), and (c) the Notice together with this Stipulation (including exhibits hereto) to be posted on the investor relations page of Opendoor’s website through the date of the Settlement Hearing. The Notice and Summary Notice shall each contain a link to the investor relations page of Opendoor’s website at which the Notice together with this Stipulation (including exhibits hereto) are posted. Opendoor shall pay the costs of providing such notice of the Settlement, or of any other notice that may otherwise be ordered by the Court. 3.3 The Settling Parties believe that the content and manner of the notice of the Settlement, as set forth in this Stipulation, constitutes adequate and reasonable notice to Current Opendoor Stockholders pursuant to applicable law and due process requirements. No later than thirty (30) days following entry of the Preliminary Approval Order, Defendants’ Counsel shall file with the Court an appropriate affidavit or declaration attesting to the filing, publishing, and posting of the notice of the Settlement. 3.4 Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs, and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the Settlement itself. 4. Plaintiffs’ Counsel’s Attorneys’ Fees and Reimbursement of Expenses 4.1 After negotiating the material terms of the Settlement and after executing the Term Sheet, the Settling Parties, with the aid of the Mediator, initiated arm’s length negotiations in good faith over the amount of attorneys’ fees and expenses to be paid to Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 19 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b42"], "char_count": 2419, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dd85715cf90c45993f2087448b78e25f21c00215cb4f2bfc876c733f9e8822d1", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 42, "char_end": 2419, "char_start": 0, "fragment_sha256": "0f01643613c690bd4bf4774e46721f91848f18fef78564a42a63b068491f5f42", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p18", "passage_kind": "narrative", "passage_sequence": 18, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 19 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Plaintiffs’ Counsel by the Defendants’ insurers based upon the substantial benefits conferred upon Opendoor by the Settlement, subject to Court approval (the “Fee and Expense Amount”). 4.2 Based upon the substantial benefits conferred upon Opendoor by the Corporate Governance Reforms, and with the assistance of the Mediator, the Settling Parties have agreed upon a Fee and Expense Amount of $1.95 million, which amount shall be paid by the Defendants’ insurers to the escrow account established by The Brown Law Firm, P.C. at Huntington Bank, to which signatories will be The Brown Law Firm, P.C., either Rigrodsky Law, P.A. or Gainey McKenna & Egleston, and either Bragar Eagel & Squire, P.C. or The Rosen Law Firm, P.A. (“Escrow Account”), within thirty (30) business days following the later of (a) the Court’s entry of the Preliminary Approval Order or (b) the transmission to Defendants’ Counsel of payee information for that account, including the tax identification number, and Form W-9. Plaintiffs’ Counsel shall make no request to the Court for (and hereby release any right they may otherwise have to seek) attorneys’ fees and/or costs beyond the Fee and Expense Amount agreed upon by the Settling Parties. Any Fee and Expense Amount awarded by the Court and set forth in the Judgment is referred to herein as the “Fee and Expense Award.” 4.3 Plaintiffs’ Counsel shall be solely responsible for any administrative costs associated with the Escrow Account as well as the filing of all informational and other tax returns with the Internal Revenue Service, or any other state or local taxing authority, as may be necessary or appropriate. Neither Defendants nor Defendants’ Counsel shall have responsibility for, nor bear any risk or liability with respect to, the Escrow Account, its operation, and any taxes or expenses incurred in connection with the Escrow Account. The Fee and Expense Award shall be released to Plaintiffs’ Counsel from the Escrow Account once the Court enters a final order approving the Stipulation, the Judgment, and the Fee and Expense Award, notwithstanding any objections thereto, potential appeal therefrom, or collateral attack on the Settlement. If for whatever reason the Judgment does not become final, Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 20 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b44"], "char_count": 2263, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3b72b609ccf9afefc644fe01e789f2d78e056a0cbfae8be153fdc9a22d445020", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 44, "char_end": 2263, "char_start": 0, "fragment_sha256": "c3c05efa5fb89fd45089396a58324f13d507af3ffdc16a114f77b288993ad500", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p19", "passage_kind": "narrative", "passage_sequence": 19, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 20 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 the Court does not award the Fee and Expense Amount in full, or if the Fee and Expense Award is reduced following any appeal, Plaintiffs’ Counsel are severally obligated to refund the corresponding amount of fees and expenses to the payors within thirty (30) days of such order. 4.4 Plaintiffs and Ingrao may apply to the Court for reasonable service awards for each of the Plaintiffs and Ingrao in the amount of up to two thousand five hundred dollars ($2,500) each (the “Service Awards”), only to be paid upon Court approval, and to be paid out of the Fee and Expense Award, in recognition of Plaintiffs’ and Ingrao’s participation and effort in the prosecution and settlement of the Derivative Actions and Ingrao’s demand. Defendants will not object to Plaintiffs’ and Ingrao’s application to the Court for the Service Awards. 4.5 Defendants and Defendants’ Counsel are not responsible for the allocation of the Fee and Expense Award amongst Plaintiffs’ Counsel and/or counsel for Raymond or Ingrao. Plaintiffs’ Counsel shall allocate the Fee and Expense Award among themselves. Plaintiffs’ Counsel agree that any disputes regarding the allocation of the Fee and Expense Award among them shall be presented to and be mediated, and, if necessary, finally decided and resolved by the Mediator. The Mediator’s fees and costs for any such mediation and/or arbitration shall be borne solely by Plaintiffs’ Counsel, and allocated among Plaintiffs’ Counsel by agreement or as finally determined by the Mediator. 4.6 The payment of the Fee and Expense Award shall constitute final and complete payment for Plaintiffs’ attorneys’ fees and expenses that have been incurred or will be incurred in connection with the Derivative Actions. Defendants shall have no obligation to make any payment to counsel for Raymond or Ingrao, or to any Plaintiffs’ Counsel other than as provided herein. 4.7 Except as otherwise provided herein or except as provided pursuant to indemnification or insurance rights, each of the Settling Parties shall bear his, her, or its own costs, expenses, and attorneys’ fees. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 21 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b46"], "char_count": 2286, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "aa0b058cb04ac883c43e671643bdcd55e8ebaadc41b8f47de97963dca78a0702", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 46, "char_end": 2286, "char_start": 0, "fragment_sha256": "48b369a95cba5f93b7531049aa573460e08fba18af3e05e993eed321d445927b", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p20", "passage_kind": "narrative", "passage_sequence": 20, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 21 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 5. Releases 5.1 Upon the Effective Date, Plaintiffs in each of the Derivative Actions, other than Plaintiff Gera in the Gera Action, shall file appropriate papers with the District of Delaware or Delaware Court of Chancery, as appropriate, to voluntarily dismiss their respective Derivative Actions with prejudice. 5.2 Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be deemed to have, and by operation of the Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons, including any and all claims (including Unknown Claims) against the Released Persons arising out of, relating to, or in connection with the defense, Settlement, or resolution of the Derivative Actions. 5.3 Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of this Stipulation. 5.4 Upon the Effective Date, Opendoor shall be deemed to have, and by operation of the Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons. 5.5 Upon the Effective Date, Opendoor shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 22 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b48"], "char_count": 2165, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "77a331c2f9885579429064ac7be1b4fc1474a8c5418ec33c2867acc8497cc15d", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 48, "char_end": 2165, "char_start": 0, "fragment_sha256": "4be121e6dcee1039710cec4c4c2964c4796ce364e93fcbd08ef065738c5f0470", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p21", "passage_kind": "narrative", "passage_sequence": 21, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 22 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims or the filing, prosecution, defense, settlement, or resolution of the Derivative Actions. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of this Stipulation. 5.6 Upon the Effective Date, each of the Released Persons shall be deemed to have fully, finally, and forever released, relinquished, and discharged Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons from all claims (including Unknown Claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims. 5.7 Upon the Effective Date, each of the Released Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting all claims (including Unknown Claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims, or any action or other proceeding against any Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of this Stipulation. 6. Conditions of Settlement; Effect of Disapproval, Cancellation, or Termination 6.1 The Settlement shall be conditioned on the occurrence of all of the following events: a. Board approval of the Settlement, including the Corporate Governance Reforms set forth in Exhibit A; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 23 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b50"], "char_count": 2262, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "42c3c64536ba12bd390b1494b6bf2f95d170822b0a8b848c5f8279d97332d894", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 50, "char_end": 2262, "char_start": 0, "fragment_sha256": "ebb7c79c78cf16157d471ce33094c9b4ef968abee07273a76071f47fc3b46146", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p22", "passage_kind": "narrative", "passage_sequence": 22, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 23 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 b. The entry of the Preliminary Approval Order, in substantially the form attached hereto as Exhibit C hereto; c. Court approval of the Settlement, following dissemination of the Notice and the Settlement Hearing, in accordance with the Preliminary Approval Order; d. The payment by Defendants’ Insurers of the Fee and Expense Amount in accordance with Section IV, supra. For the avoidance of doubt, the Settlement is not conditioned on the Court granting a Fee and Expense Award equal to the Fee and Expense Amount; e. entry of the Judgment, in substantially in the form set forth as Exhibit D annexed hereto; and f. the Judgment becomes Final. 6.2 If any of the conditions specified above in Paragraph 6.1 are not met, then this Stipulation shall be deemed canceled and terminated, unless counsel for the Settling Parties mutually agree in writing to proceed with this Stipulation. 6.3 If for any reason the Effective Date does not occur, or if this Stipulation is in any way canceled, terminated, or fails to become Final in accordance with its terms: (a) the Term Sheet shall be rendered null and void and of no force and effect; (b) the Settling Parties shall be restored to their respective positions in the Derivative Actions as of the date of this Stipulation; (c) any Fee and Expense Amount paid to Plaintiffs’ Counsel shall be refunded and returned to the payors within thirty (30) days; (d) the terms and provisions of this Stipulation (other than those forth in Section IV, Paragraphs 1.1-1.34, 4.3, 6.2-6.3, 7.4-7.14) shall have no further force or effect with respect to the Settling Parties and shall not be deemed or construed to be an admission of any act, matter, or proposition, and shall not be used in the Derivative Actions or any other proceeding for any purpose; and (e) all negotiations, proceedings, documents prepared, and statements made in connection herewith shall be without prejudice to the Settling Parties, shall not be deemed or construed to be an admission by a Settling Party of any act, matter, or proposition, and shall not be used in any manner for Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 24 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b52"], "char_count": 2318, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c2781c90d0ecdca9885c78b7460f44dcd13103e50e50ca8fb4c9bc48e7b73f60", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 52, "char_end": 2318, "char_start": 0, "fragment_sha256": "afe96436daef8eff5f64c9ae545a76c588abca13f6f98211703587b5e2b6551c", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 24 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 any purpose (other than to enforce the terms remaining in effect) in the Derivative Actions or in any other action or proceeding. In such event, any Judgment or other order entered in accordance with the terms of this Stipulation shall be treated as vacated. 6.4 No order of the Court, modification, or reversal on appeal of any order of the Court concerning the amount of attorneys’ fees, costs, expenses, and interest to paid to Plaintiffs’ Counsel and/or counsel for Raymond or Ingrao or the amount of service awards to be paid to Plaintiffs and Ingrao shall constitute grounds for cancellation or termination of the Stipulation, affect the enforceability of the Stipulation, or delay or preclude the Judgment from becoming Final. 7. Miscellaneous Provisions 7.1 The Settling Parties: (a) acknowledge that it is their intent to consummate this Stipulation; and (b) agree to act in good faith and cooperate to take all reasonable and necessary steps to expeditiously implement the terms and conditions of this Stipulation. 7.2 The Settling Parties intend this Settlement to be a final and complete resolution of all disputes between Plaintiffs and Opendoor and its stockholders, on the one hand, and the Released Persons, on the other hand, arising out of, based upon, or related to the Released Claims. 7.3 The Settlement compromises claims that are contested and shall not be deemed an admission by any Settling Party as to the merits of any claim, allegation, or defense. The Settling Parties agree that the Settling Parties and their respective counsel at all times during the course of the Derivative Actions have complied with the requirements of good faith litigation, including, without limitation, Fed. R. Civ. P. 11 and all other similar laws and/or rules governing professional conduct. The Settling Parties agree that the claims are being settled voluntarily after consultation with competent legal counsel and shall not take the position that the Derivative Actions were brought or defended in bad faith or in violation of Fed. R. Civ. P. 11. 7.4 Neither the Settlement, this Stipulation (including any exhibits attached hereto), Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 25 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b54"], "char_count": 2455, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ce95bbfbe192fc431e081b6bb18cfbca0b33158afed26846e0c5d3fb2f3e2753", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 54, "char_end": 2455, "char_start": 0, "fragment_sha256": "33fe20b6552ec5ad4313a4bd4b835ee523c63e886902a2c78e64bb72164652a4", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p24", "passage_kind": "narrative", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 25 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 nor any act performed or document executed pursuant to or in furtherance of the Stipulation or Settlement: (a) is or may be deemed to be or may be offered, attempted to be offered, or used in any way as a presumption, a concession, admission, or evidence of the validity or infirmity of any Released Claims, or of any fault, wrongdoing or liability of the Released Persons; (b) is, may be deemed to be, or may be used as a presumption, concession, admission, or evidence of any liability, fault, or omission of any of the Released Persons in any civil, criminal, or administrative, or other proceeding in any court, administrative agency, tribunal, or other forum; or (c) is or may be deemed an admission by any Settling Party as to the merits or lack thereof of any claim, allegation, or defense. 7.5 Neither this Stipulation nor the Settlement, nor any act performed or document executed pursuant to or in furtherance of this Stipulation or the Settlement, shall be admissible in any proceeding for any purpose, except to enforce the terms of the Settlement in court, and except that the Released Persons may file or use the Stipulation, the Preliminary Approval Order, and/or the Judgment in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, standing, judgment bar, or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 7.6 This Stipulation may be modified or amended only by a written instrument signed by, or on behalf of, each of the Settling Parties or their respective successors-in- interest. 7.7 In construing this Stipulation, no presumption shall be made against any Settling Party on the basis that it was a drafter of this Stipulation. 7.8 The Stipulation and the exhibits attached hereto constitute the entire agreement between the Settling Parties, and no representations, warranties, or inducements have been made to any Settling Party concerning this Stipulation or any of its exhibits other than the representations, warranties, and covenants contained and memorialized in such documents. The Stipulation supersedes and replaces the Term Sheet and any prior or contemporaneous Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 26 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b56"], "char_count": 2452, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "daff769beb02f918a235fe3d958352a68faa020d80134875ded767de5f1ded06", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 56, "char_end": 2452, "char_start": 0, "fragment_sha256": "61734e74c4d23b67a011be0c51b3366dc429f0557c66fb34603ee2824ed74459", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 26 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 writing, statement, or understanding pertaining to the Derivative Actions, and no parole or other evidence may be offered to explain, construe, contradict, or clarify its terms, the intent of the Settling Parties or their counsel, or the circumstances under which the Stipulation was made or executed. It is understood by the Settling Parties that, except for matters expressly represented herein, the facts or law with respect to which this Stipulation is entered into may turn out to be other than or different from the facts now known to each party or believed by such party to be true; each party therefore expressly assumes the risk of facts or law turning out to be different, and agrees that this Stipulation shall be in all respects effective and not subject to termination by reason of any such different facts or law. 7.9 The exhibits to this Stipulation are material and integral parts hereof and are fully incorporated herein by this reference. 7.10 In the event that there exists a conflict or inconsistency between the terms of this Stipulation and the terms of any exhibit hereto, the terms of this Stipulation shall prevail. 7.11 This Stipulation may be executed in one or more counterparts, including by signature transmitted electronically, by facsimile, or by e-mailed PDF files. Each counterpart, when so executed, shall be deemed to be an original, and all such counterparts together shall constitute the same instrument. 7.12 This Stipulation and the Settlement shall be binding upon, and inure to the benefit of, the successors and assigns of the Settling Parties and Released Persons. 7.13 This Stipulation shall be considered to have been negotiated, executed, and delivered, and to be wholly performed, in the State of Arizona, and the rights and obligations of the parties to this Stipulation shall be construed and enforced in accordance with, and governed by, the internal, substantive laws of the State of Arizona without giving effect to that state’s choice of law principles. 7.14 Without affecting the finality of the Judgment entered in accordance with this Stipulation, the Court shall retain jurisdiction to implement and enforce the terms of the Stipulation and the Judgment and to consider any matters or disputes arising out of or relating Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 27 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b58"], "char_count": 2053, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3b948200852c7d7b76762fddc5809e7148db1bb4295901776c9200cc59561f59", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 58, "char_end": 2053, "char_start": 0, "fragment_sha256": "9d630e83db8af4145f3ad6ca79cce60da0c5633f34005f52370cd5050a22bd91", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p26", "passage_kind": "narrative", "passage_sequence": 26, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 27 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 to the Settlement, and the Settling Parties submit to the jurisdiction of the Court for purposes of implementing and enforcing the Settlement embodied in the Stipulation and Judgment, and for matters or disputes arising out of or relating to the Settlement. 7.15 Any planned, proposed, or actual sale, merger, or change-in-control of Opendoor shall not void this Stipulation. The Stipulation shall run to the Settling Parties’ respective successors-in-interest. In the event of a planned, proposed, or actual sale, merger, or change-in-control of Opendoor, the Settling Parties shall continue to seek court approval of the Settlement expeditiously, including, but not limited to, the Settlement terms reflected in this Stipulation. 7.16 In the event any proceedings by or on behalf of Opendoor, whether voluntary or involuntary, are initiated under any chapter of the United States Bankruptcy Code, including an act of receivership, asset seizure, or similar federal or state law action (“Bankruptcy Proceedings”), the Settling Parties agree to use their reasonable best efforts to obtain all necessary orders, consents, releases, and approvals for effectuation of this Stipulation in a timely and expeditious manner. In the event of any Bankruptcy Proceedings by or on behalf of Opendoor, the Settling Parties agree that all dates and deadlines set forth herein will be extended for such periods of time as are necessary to obtain necessary orders, consents, releases, and approvals from the bankruptcy court to carry out the terms and conditions of the Stipulation. 7.17 After prior notice to the Court, but without further order of the Court, the Settling Parties may agree to reasonable extensions of time to carry out any provisions of this Stipulation. IN WITNESS WHEREOF, the Settling Parties have caused this Stipulation to be executed by their duly authorized attorneys. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 28 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b60", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b62"], "char_count": 2399, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4ffa81a6cf96efe5427532e2e86307576ab487bd580eabf890df03ed5b627389", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 60, "char_end": 1306, "char_start": 0, "fragment_sha256": "4f6b3cd05201139202a6a0708c82a0221ac29ff2040fb0733e8bc60e35651d78", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 62, "char_end": 1091, "char_start": 0, "fragment_sha256": "3914f8fa5c5fc1ecdc5316306a04cff735b83fe3b63c10a4e59167e9a9586aa6", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "- 28 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Agreed to this 27 day of June, 2025: THE BROWN LAW FIRM, P.C. By: /s/ Timothy Brown Timothy Brown Saadia Hashmi Elizabeth Donohoe 767 Third Avenue, Suite 2501 New York, NY 10017 Telephone: 516-922-5427 Email: tbrown@thebrownlawfirm.net shashmi@thebrownlawfirm.net edonohoe@thebrownlawfirm.net Counsel for Plaintiff Samhita Gera GAINEY MCKENNA & EGLESTON By: /s/ Gregory M. Egleston Thomas J. McKenna Gregory M. Egleston 260 Madison Avenue, 22nd Floor New York, NY 10016 Telephone: 212-983-1300 Email: tjmckenna@gme-law.com egleston@gme-law.com Counsel for Plaintiffs Ryan Carlson and Seth Van Dorn ALLEN OVERY SHEARMAN STERLING US LLP By: /s/ Lyle Roberts Lyle Roberts 1101 New York Avenue, N.W. Washington, DC 20005 Telephone: 202-508-8000 Email: lyle.roberts@aoshearman.com Counsel for Nominal Defendant Opendoor Technologies Inc., the Individual Defendants, and Sponsor RIGRODSKY LAW, P.A. By: /s/ Timothy J. MacFall Seth D. Rigrodsky Timothy J. MacFall 825 East Gate Boulevard, Suite 300 Garden City, NY 11530 Telephone: 516-683-3516 Email: sdr@rl-legal.com tjm@rl-legal.com Counsel for Plaintiffs Ryan Carlson and Seth Van Dorn Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 29 of 95\n\n- 29 - STIPULATION OF SETTLEMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 THE ROSEN LAW FIRM, P.A. By: /s/ Erica L. Stone Erica L. Stone Philip Kim Olivia Simkins 275 Madison Avenue, 40th Floor New York, NY 10016 Telephone: 212-686-1060 Email: estone@rosenlegal.com philkim@rosenlegal.com osimkins@rosenlegal.com Counsel for Plaintiff Tammy Juul BRAGAR EAGEL & SQUIRE, P.C. By: /s/ Melissa A. Fortunato Melissa A. Fortunato Lawrence P. Eagel 810 Seventh Avenue, Suite 620 New York, NY 10019 Telephone: 212-308-5858 Email: fortunato@bespc.com eagel@bespc.com Counsel for Plaintiffs Lori Woods and Makar Stozhyk VIK PAWAR LAW PLLC By: /s/ Vikrant Pawar Vikrant Pawar 20 Vesey Street, Suite 1410 New York, NY 10007 Telephone: 212-571-0805 Email: vikrantpawaresq@gmail.com Counsel for Clifford Raymond SHUMAN, GLENN & STECKER By: /s/ Rusty E. Glenn Rusty E. Glenn 600 17th Street Ste. 2800 South Denver, CO 80202 Telephone: 303-861-3003 Email: Rusty@shumanlawfirm.com Counsel for Nicholas Ingrao Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 30 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b64", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b66"], "char_count": 2945, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9c7b905658ce4868e1a2342efd2d7b844ba4fc5fdfd37a50a95d35ac132240a9", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 64, "char_end": 1280, "char_start": 0, "fragment_sha256": "5dc8adeb1e0cee31190c18af1f0d3735f599e19a09363e58e491d5f337f49c06", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 66, "char_end": 1663, "char_start": 0, "fragment_sha256": "48fbea226d49ae0ce40ced554dc595bea30733a00ee7629c848b01549e0ba4bd", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MCKAY LAW, LLC Michael C. McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT A CORPORATE GOVERNANCE REFORMS Within ninety (90) calendar days of entry of a final order approving the settlement of the above-captioned action by the United States District Court for the District of Arizona (the “Court”), Opendoor Technologies Inc. (“Opendoor” or the “Company”) shall adopt the following Corporate Governance Reforms identified herein, and maintain the same for four Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 31 of 95\n\n2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 (4) years thereafter, subject to the terms of the Stipulation of Settlement dated June 27, 2025 (the “Stipulation”).1 Opendoor acknowledges and agrees that the filing, pendency, and settlement of the Derivative Actions was the cause of the Company’s decision to adopt, implement, and maintain the Corporate Governance Reforms. Opendoor also acknowledges and agrees that the Corporate Governance Reforms confer substantial benefits to Opendoor and Opendoor’s stockholders. A. FORMATION BY OPENDOOR OF MANAGEMENT-LEVEL COMPLIANCE COMMITTEE 1. Purpose. Opendoor will form a Compliance Committee to assist the Board of Directors and the Audit and Risk Committee of the Board in overseeing Opendoor’s enterprise-level compliance program with respect to: a. Compliance with the laws and regulations applicable to Opendoor’s business, including the Real Estate Settlement Procedures Act (“RESPA”) and other applicable real estate laws and regulations. b. Compliance with Opendoor’s Code of Business Conduct and Ethics and related policies by employees, officers, directors and other agents and associates. 2. Responsibilities. The Compliance Committee will work to ensure that Opendoor’s compliance program effectively: a. Establishes procedures to monitor and assess compliance with RESPA and applicable real estate laws. b. Prevents and/or detects potential violations of the Code of Business Conduct and Ethics and related policies. 1 All defined terms unless stated otherwise have the meanings set forth in the Stipulation. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 32 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b68"], "char_count": 1596, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fd8d7ec88225dc001b02844e97f27c3ae4d078ae326c7b8a96d171297561df94", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 68, "char_end": 1596, "char_start": 0, "fragment_sha256": "f504dc1309405d6aa614c73323894bbd7b419ca961bc6dc4fc27007646f7ac9f", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p29", "passage_kind": "narrative", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 c. Reports to the Audit and Risk Committee from time to time, or whenever so requested by the Audit and Risk Committee, which will be conducted by the Chair of the Compliance Committee. 3. Membership. The Compliance Committee shall be composed of officers and other employees who are familiar with critical compliance priorities and real estate laws and regulations, including the: a. Chief Legal Officer (Chair) b. Compliance Officer c. Corporate Controller d. Head of Internal Audit e. Director, Product and Commercial. 4. Meetings. The Compliance Committee shall meet at least twice annually, or more frequently as its members deem necessary. B. CREATION BY OPENDOOR OF A HEAD OF INTERNAL AUDIT FUNCTION 1. Opendoor will appoint a Head of Internal Audit that is expected to report directly to the Audit and Risk Committee of the Board of Directors of Opendoor. 2. The responsibilities of the Head of Internal Audit will include: a. Oversight of Opendoor’s Sarbanes-Oxley compliance function, which includes risk assessment and scoping, process documentation and control design tests of business processes that flow directly into Opendoor’s financial statements, including its pricing algorithm, with input and oversight from Opendoor’s external auditor. b. Strengthen Opendoor’s broader internal audit function. c. Preparation and maintenance of an internal audit plan, including developing processes and controls for regularly testing other critical Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 33 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b70"], "char_count": 1764, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7a2e425426ef72a0be0217342aed9c06aa7cee35b1e0de12b2ffc71697671d16", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 70, "char_end": 1764, "char_start": 0, "fragment_sha256": "5094c4223eeed4b2c4410479df36def4d329ec715fccecfcca6df321a9a3b1ed", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 product system functions and remediating any discovered issues or related challenges. 3. The Head of Internal Audit will have unrestricted access to the Audit and Risk Committee, as needed, and will keep the Audit and Risk Committee informed of Opendoor's efforts to improve the control environment. 4. Opendoor expects to identify and appoint a Head of Internal Audit within 12 months of the final approval of the Settlement. 5. The charter of the Audit and Risk Committee will be amended after the Head of Internal Audit is appointed to reflect the reporting structure and provide that the Head of Internal Audit will meet with the Committee. C. IMPLEMENTATION BY OPENDOOR OF CORPORATE GOVERNANCE EVALUATION 1. Opendoor will conduct a benchmarking best practices review to compare corporate governance practices against peer companies, as such companies are identified in its proxy statement. The framework of the benchmarking review will consist of the following: a. review will be conducted twice over the course of the next four years b. review will be conducted by Opendoor’s external counsel c. review will be presented to Opendoor’s Chief Legal Officer d. review will analyze Opendoor’s Corporate Governance Guidelines, board committee charters and Code of Conduct e. Opendoor will review and thoughtfully consider the output of the review, including whether any changes are necessary, but Opendoor is not required to implement changes or recommend changes to the Board of Directors f. any actions taken by Opendoor as a result of the review do not have to be made public other than as part of a customary posting Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 34 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b72", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b74"], "char_count": 525, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "040e5137e98707b07ea43d01fa965a4721f4d7001fb56bbe98c3558bf05df6fd", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 72, "char_end": 448, "char_start": 0, "fragment_sha256": "813869f6851479860de5633cbffb03b9e63d5d584b90c517841479162c08d131", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 74, "char_end": 75, "char_start": 0, "fragment_sha256": "28af8f6432edeb62611f820f4f92e91b8faa3da071b2d83268a7994ba9a375dc", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 of the associated revised corporate governance documents on Opendoor’s website D. CHANGES TO OPENDOOR CORPORATE GOVERNANCE DOCUMENTS Opendoor will amend certain corporate governance documents in the manner indicated by the redlining in the copies of such documents attached as Exhibits 1 through 5 hereto. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 35 of 95\n\nExhibit 1 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 36 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b76"], "char_count": 3808, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f6645c7b624dab722fb80e7aeb1d683e1343d2e4ab2ec8d9d95119accd299425", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 76, "char_end": 3808, "char_start": 0, "fragment_sha256": "5176eb7c2a65740637195e1b7618ba7441a76931fc0da04e930e2d5f8709996d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 1 CHARTER OF THE AUDIT AND RISK COMMITTEE OF THE BOARD OF DIRECTORS OF OPENDOOR TECHNOLOGIES INC. [_________]NOVEMBER 20, 20254 I. PURPOSE OF THE COMMITTEE The purpose of the Audit and Risk Committee (the “Committee”) of the Board of Directors (the “Board”) of Opendoor Technologies Inc. (the “Company”) is to oversee (i) the integrity of the Company’s financial statements and the Company’s accounting and financial reporting processes and financial statement audits, (ii) the independent auditor’s qualifications, performance and independence, (iii) the Company’s internal controls over financial reporting, including systems of disclosure controls and procedures, (iv) the Company’s compliance with legal and regulatory requirements, and (v) the Company’s risk oversight function with respect to certain risk exposures of the Company. II. COMPOSITION OF THE COMMITTEE The Committee shall consist of three or more independent directors, as determined from time to time by the Board, subject to any available exception. Each member of the Committee shall be qualified to serve on the Committee pursuant to the requirements of the Nasdaq Stock Market LLC (“Nasdaq”) and the more rigorous independence rules for members of the audit committee issued by the Securities and Exchange Commission (“SEC”), subject in each case to any applicable exception, and any additional requirements that the Board deems appropriate. Without prior approval of the Board, members of the Committee may not serve on more than three public company audit committees (including the Committee). The chairperson of the Committee shall be designated by the Board, provided that if the Board does not so designate a chairperson, the members of the Committee, by a majority vote, may designate a chairperson. Any vacancy on the Committee may be filled by majority vote of the Board. No member of the Committee shall be removed except by majority vote of the Board. Each member of the Committee must meet the financial literacy requirements of Nasdaq applicable to Committee members as in effect from time to time, when and as required by Nasdaq. In addition, at least one member of the Committee must be designated by the Board to be the “audit committee financial expert,” as defined by the SEC pursuant to the U.S. Sarbanes-Oxley Act of 2002 (the “Act”) and satisfy the applicable Nasdaq financial sophistication requirements as in effect from time to time. III. MEETINGS OF THE COMMITTEE The Committee shall meet as often as it determines necessary to carry out its duties and responsibilities, but no less frequently than once every fiscal quarter. The Committee, in its discretion, may ask members of management or others to attend its meetings (or portions thereof) and to provide pertinent information as necessary. The Committee should meet separately on a periodic basis with (i) management, (ii) the director of the Company’s internal auditing department or other person responsible for the internal audit function, if any, and (iii) the Company’s independent auditors, in each case to discuss any matters that the Committee or any of the above persons or firms believe warrant Committee attention. A majority of the members of the Committee present in person or by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other shall constitute a quorum. The vote of a majority of the members of the Committee present at any meeting at which a quorum is present shall be the act of the Committee, except as may be otherwise specifically provided by statute, the Certificate of Incorporation or the Bylaws of the Company. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 37 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b78"], "char_count": 3802, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "154b24cbdb16b2a4cfd4d81540172dfa61b070e99d0e1bd7bc0a6d1aab3a97f9", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 78, "char_end": 3802, "char_start": 0, "fragment_sha256": "f6c9bfd930fb841a0bb0f518af17ec6cec0d627213c12b86fabf318995bfeb2b", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 2 The Committee shall maintain minutes of its meetings and records relating to those meetings. The provisions of the Certificate of Incorporation and Bylaws of the Company (as amended from time to time) relating to meetings of the Board shall apply equally to meetings of the committee unless otherwise stated herein. IV. DUTIES AND RESPONSIBILITIES OF THE COMMITTEE In carrying out its duties and responsibilities, the Committee’s policies and procedures should remain flexible, so that it may be in a position to best address, react or respond to changing circumstances or conditions. The following duties and responsibilities are within the authority of the Committee and the Committee shall, consistent with and subject to applicable law and rules and regulations promulgated by the SEC, Nasdaq, or any other applicable regulatory authority: Selection, Evaluation, and Oversight of the Independent Auditors (a) Be directly responsible for the appointment, compensation, retention and oversight of the work of any registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company, and each such registered public accounting firm must report directly to the Committee (the registered public accounting firm engaged for the purpose of preparing or issuing an audit report for inclusion in the Company’s Annual Report on Form 10-K is referred to herein as the “independent auditors”). (b) Review and, in its sole discretion, approve in advance the Company’s independent auditors’ annual audit engagement, including engagement letters and proposed fees, as well as all permitted non-audit engagements, after receiving input from the Company’s management, if desired. Approval of audit and permitted non-audit services will be made by the Committee or by the chairperson of the Committee, who shall report such approval to the Committee at the next scheduled meeting. (c) Review the performance of the Company’s independent auditors, including the lead partner of the independent auditors, and, in its sole discretion (subject, if applicable, to shareholder ratification), make decisions regarding the replacement or termination of the independent auditors when circumstances warrant. (d) Obtain at least annually from the Company’s independent auditors and review a report describing: (i) the independent auditors’ internal quality-control procedures; (ii) any material issues raised by the most recent internal quality-control review, or peer review, of the independent auditors, or by any inquiry or investigation by any governmental or professional authority, within the preceding five years, respecting one or more independent audits carried out by the independent auditors, and any steps taken to deal with any such issues; and (iii) all relationships between the independent auditors and the Company (including a description of each category of services provided by the independent auditors to the Company and a list of the fees billed for each such category). (e) Evaluate the independence of the Company’s independent auditors by, among other things: (i) obtaining and reviewing from the Company’s independent auditors a written report describing all relationships between the independent auditors and the Company (including a description of each category of services provided by the independent auditors to the Company and a list of the fees billed for each such category); (ii) monitoring compliance by the Company’s independent auditors with the audit partner rotation requirements contained in the Act and the rules and regulations promulgated by the SEC thereunder; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 38 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b80"], "char_count": 3306, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ef73ffa27c6ad8097f4fb5bf485a3f73e401e1786078a809f66755b16ea2b09e", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 80, "char_end": 3306, "char_start": 0, "fragment_sha256": "b37931c7cdcab81f1ccb537fdedfa735c33a7803a646b911f359050b67815dbb", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 3 (iii) actively engaging in a dialogue with the Company’s independent auditors with respect to any disclosed relationships or services that may impact the objectivity and independence of the auditors; (iv) setting clear hiring policies for employees or former employees of the Company’s independent auditors; (v) taking, or recommending that the Board take, appropriate action to oversee the independence of the Company’s independent auditors; (vi) monitoring compliance by the Company of the employee conflict of interest requirements contained in the Act and the rules and regulations promulgated by the SEC thereunder; and (vii) engaging in a dialogue with the independent auditors to confirm that fees paid for audit and permitted non-audit services are in compliance with applicable SEC rules. Oversight of Annual Audit and Quarterly Reviews (f) Review and discuss with the independent auditors their responsibilities under generally accepted auditing standards, their audit strategy and annual audit plan, including the timing and scope of audit activities. Monitor such plan’s progress and results during the year. (g) Review with management and the Company’s independent auditors the following, which is required to be reported by the independent auditor by applicable Public Company Accounting Oversight Board standards and SEC rules: (i) all critical accounting policies and practices to be used; (ii) any critical auditing matters, which will appear in the audit report for inclusion in the Company’s Annual Report on Form 10-K; (iii) all alternative treatments of financial information that have been discussed by the independent auditors and management, ramifications of the use of such alternative disclosures and treatments, and the treatment preferred by the independent auditors; (iv) all other material written communications between the independent auditors and management, such as any management letter and any schedule of unadjusted differences; and (v) any material financial arrangements of the Company which do not appear on the financial statements of the Company. (h) Review with management, the Company’s independent auditors and, if appropriate, the head of the Company’s internal auditing department, if any, the Company’s annual audited financial statements and quarterly financial statements, including the Company’s specific disclosures under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, and any major issues related thereto. Meet with the Company’s Disclosure Committee, or its designated representatives, in connection with the Disclosure Committee’s review of Annual Reports on Form 10-K, each Quarterly Report on Form 10-Q and such other public disclosures as may be necessary. (i) Review with management, the Company’s independent auditors and, if appropriate, the head of the Company’s internal auditing department, if any, the following: (i) major issues regarding accounting principles and financial statements presentations, including any significant changes in the Company’s selection or application of accounting principles; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 39 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b82"], "char_count": 3233, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d040473d53dc8f2864412b95f5dfde2725fa03be79c4038296219317cafb8856", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 82, "char_end": 3233, "char_start": 0, "fragment_sha256": "c8641d4adbda7bb319587dc234afb7b23c7695a13aa285f9d452b559b667a26d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p35", "passage_kind": "narrative", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 4 (ii) any analyses prepared by management and/or the independent auditors setting forth significant financial reporting issues and critical accounting estimates and judgments made in connection with the preparation of the financial statements, including analyses of the effects of alternative generally accepted accounting principles and methods on the Company’s financial statements; (iii) any contingent liabilities and risks that may be material to the Company (including, without limitation, risks relating to cybersecurity and relevant major legislative and regulatory developments); (iv) the Committee’s level of involvement and interaction with the Company’s internal audit function, if any, including the Committee’s line of authority and role in appointing and compensating employees in any such internal audit function; (v) the effect of regulatory and accounting initiatives on the financial statements of the Company; and (vi) the type and presentation of information to be included in any earnings or press releases, including pro forma and non-GAAP information, as well as review of any financial information and earnings guidance provided to analysts or rating agencies. (j) Resolve all disagreements between the Company’s independent auditors and management regarding financial reporting. (k) Review on a regular basis with the Company’s independent auditors any problems or difficulties encountered by the independent auditors in the course of any audit work, including management’s response with respect thereto, any restrictions on the scope of the independent auditor’s activities or on access to requested information, and any significant disagreements with management. In connection therewith, the Committee should review with the independent auditors the following: (i) any accounting adjustments that were noted or proposed by the independent auditors but were rejected by management (as immaterial or otherwise); (ii) any communications between the audit team and the independent auditor’s national office respecting auditing or accounting issues presented by the engagement; and (iii) any “management” or “internal control” letter issued, or proposed to be issued, by the independent auditors to the Company. Oversight of Financial Reporting Process and Internal Controls (l) Review with management and the independent auditors, periodically, the following: (i) the adequacy and effectiveness of the Company’s administrative, operational and accounting internal control policies and procedures, including consideration of the risk of management’s ability to override the Company’s internal controls as well as any special audit steps adopted in light of the discovery of material control deficiencies; (ii) the yearly report prepared by management, and attested to by the Company’s independent auditors, assessing the effectiveness of the Company’s internal control over financial reporting and stating management’s responsibility for establishing and maintaining adequate internal control over financial reporting prior to its inclusion in the Company’s Annual Report on Form 10-K; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 40 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b84"], "char_count": 3893, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2c81de151b4c5b9460df7e508bdfbcab05a603f364890c9453d6a1a1966f7f61", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 84, "char_end": 3893, "char_start": 0, "fragment_sha256": "e776c0ade669e428bf764a0bcd33fb917a3c7a944eeb0a3962234d76c69bb156", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 5 (iii) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and (iv) any material fraud as well as any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting. (m) Discuss guidelines and policies governing the process by which senior management of the Company assess and manage the Company’s exposure to risk, as well as the Company’s major financial risk exposures and the steps management has taken to monitor and control such exposures. Review with management the responsibilities, charter, budget, compensation and staffing of the Company’s internal audit function, if any. Review the progress and results of any internal audit projects, and, when deemed necessary or appropriate by the Committee, assign any additional internal audit projects to appropriate personnel. (n) Receive periodic reports from the Company’s independent auditors, management and the Company’s corporate controller or chief accounting officer, if any, to assess the impact on the Company of significant accounting or financial reporting developments that may have a bearing on the Company. (o) Consider whether the Committee will recommend to the Board that the Company’s audited financial statements be included in the Company’s Annual Report on Form 10-K. (p) Oversee environmental, social and governance (“ESG”) disclosure controls for public filings based on commonly accepted ESG standards and SEC requirements, including with respect to cybersecurity and climate change disclosure requirements. (q) Establish and maintain free and open means of communication between and among the Committee, the Company’s independent auditors and management, including providing such parties with appropriate opportunities to meet separately and privately with the Committee on a periodic basis. Oversight of Related Party Transactions (r) Review and approve or ratify, in accordance with the Company’s policies, any related party transaction as defined by applicable law or Nasdaq requirements, including without limitation transactions involving “Related Persons” under the Company’s Related-Person Transactions Policy (as in effect from time to time). Data Privacy and Cybersecurity (s) Review with management, the Company’s cybersecurity, data privacy, and other risks relevant to the Company’s information systems and security, the steps the Company has taken to monitor or mitigate such exposures, and the Company’s information system governance policies and programs. Oversight of Risk Exposure (s)(t) Review with management, periodically, the adequacy and effectiveness of the Company’s policies and strategies with respect to portfolio risk management, capital and liquidity management, and capital investment activities, including the Company’s guidelines, policies and procedures governing the process by which senior management of the Company assesses and manages the Company’s portfolio risk exposure and the steps management has taken to monitor and manage such exposure. Miscellaneous (t) Meet periodically with outside counsel when appropriate, to review legal and regulatory matters, including (i) any matters that may have a material impact on the financial statements of the Company and (ii) any matters involving potential or ongoing material violations of law or breaches of fiduciary duty by the Company or any of its directors, officers, employees, or agents or breaches of fiduciary duty to the Company. Formatted: Font: (Default) Arial, 11 pt, Font color: Black Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 41 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b86"], "char_count": 3741, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c2935ae48602075cd1e8fd34690bc2f6dd71f965c8bfdc0927e0e14a6e3419eb", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 86, "char_end": 3741, "char_start": 0, "fragment_sha256": "fd38312143e6ba35bb1f72371c8ce2366b3e3f450da25f9685b38386e0793ae7", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 6 (u) Prepare the report required by the rules of the SEC to be included in the Company’s annual proxy statement. (v) Review the Company’s policies relating to the ethical handling of conflicts of interest and review past or proposed transactions between the Company and members of management as well as policies and procedures with respect to officers’ expense accounts and perquisites, including the use of corporate assets. The Committee shall consider the results of any review of these policies and procedures by the Company’s independent auditors. (w) Review the Company’s program to monitor compliance with the Company’s Code of Ethics and Business Conduct. (x) Establish procedures for (i) the receipt, retention and treatment of complaints received by the Company regarding accounting, internal controls or auditing matters, and (ii) the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters. The Committee shall review any such complaints or anonymous submissions received directly by the Committee or from the officer designated by the Board to administer the Company’s Code of Business Conduct and Ethics. The Committee shall also periodically review these procedures and consider any proposed changes. (y) Secure independent expert advice to the extent the Committee determines it to be appropriate, including retaining, with or without Board approval, independent counsel, accountants, consultants or other advisers, to assist the Committee in fulfilling its duties and responsibilities, the cost of such independent expert advisors to be borne by the Company. (z) Report regularly to the Board on its activities, as appropriate (in connection therewith, the Committee should review with the Board any issues that arise with respect to the quality or integrity of the Company’s financial statements, the Company’s compliance with legal or regulatory requirements, the performance and independence of the Company’s independent auditors, or the performance of the internal audit function, if any). (aa) Perform such additional activities, and consider such other matters, consistent with the scope of the Committee’s responsibilities under this Charter, the purposes of the Committee, the Company’s Bylaws and applicable Nasdaq rules. (bb) Review, on a quarterly basis, all payments that were made by the Company to the Company’s officers and directors or any of their respective affiliates. V. EVALUATION OF THE COMMITTEE The Committee shall, on an annual basis and in coordination with the Nominating and Corporate Governance Committee, evaluate its performance. The evaluation shall address all matters that the Committee considers relevant to its performance, including a review and assessment of the adequacy of this Charter, shall be conducted in such manner as the Committee deems appropriate. The Committee shall deliver to the Board a report, which may be oral, setting forth the results of its evaluation. VI. REVIEW OF CHARTER The Committee shall annually review and assess the adequacy of this Charter and recommend any proposed changes to the Board for approval. VII. DELEGATION OF AUTHORITY The Committee may form subcommittees for any purpose that the Committee deems appropriate and may delegate to such subcommittees such power and authority as the Committee deems appropriate; provided that the Committee shall not delegate to a subcommittee any power or authority required by any law, regulation or listing standard to be exercised by the Committee as a whole. VIII. INVESTIGATIONS AND STUDIES; OUTSIDE ADVISERS Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 42 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b88"], "char_count": 2048, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1e8b3687e3e18f437bfc976f8e08748ed455eb2c54cc69c84f9101471ceadd54", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 88, "char_end": 2048, "char_start": 0, "fragment_sha256": "57d462a904fe85603ff950cb2cad8b1efffac73c43d7997772e20f68c82ce228", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 7 The Committee may conduct or authorize investigations into or studies of matters within the Committee’s scope of responsibilities, and may retain, at the Company’s expense, such independent counsel or other consultants or advisers as it deems necessary. IX. FUNDING The Company must provide for appropriate funding, as determined by the Committee, for payment of compensation to the independent auditors for the purpose of preparing or issuing an audit report or performing other audit, review or attest services and for payment of ordinary administrative expenses of the Committee that are necessary or appropriate in carrying out its duties. * * * While the Committee has the duties and responsibilities set forth in this Charter, the Committee is not responsible for preparing or certifying the financial statements, for planning or conducting the audit, or for determining whether the Company’s financial statements are complete and accurate and are in accordance with generally accepted accounting principles. In fulfilling their responsibilities hereunder, it is recognized that members of the Committee are not full-time employees of the Company, it is not the duty or responsibility of the Committee or its members to conduct “field work” or other types of auditing or accounting reviews or procedures or to set auditor independence standards, and each member of the Committee shall be entitled to rely on (i) the integrity of those persons and organizations within and outside the Company from which it receives information and (ii) the accuracy of the financial and other information provided to the Committee, in either instance absent actual knowledge to the contrary. Nothing contained in this Charter is intended to create, or should be construed as creating, any responsibility or liability of the members of the Committee, except to the extent otherwise provided under applicable U.S. federal or state law. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 43 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b90", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b92", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b94"], "char_count": 3612, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c3e8ba169ae9d41aa0b8ee3571c63466ea2f98ed5de174cfb5e9de9a356a9558", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 90, "char_end": 336, "char_start": 0, "fragment_sha256": "97f7de92c7706f093075aadd205924feb2a866f54fef42ac8a97d636ecb257e7", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 92, "char_end": 75, "char_start": 0, "fragment_sha256": "f2812554ab4ea7514f1879781eb7a0bdd38cd6c042b22cf3f7fc0990b4c3685a", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 94, "char_end": 3197, "char_start": 0, "fragment_sha256": "0866fd0d10549d7607ba301ea954c959749b022087dfd3dfbfaae1f630055e45", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p39", "passage_kind": "narrative", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit A-2 to Settlement Term Sheet Dated April 25, 2025 8 (As adopted by the Board of Directors on September 30, 2021, re-approved by the Board of Directors on December 8, 2022, and amended by the Board of Directors on December 21, 2023, and November 20, 2024 and [ ]) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 44 of 95\n\nExhibit 2 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 45 of 95\n\n1 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 OPENDOOR TECHNOLOGIES INC. CORPORATE GOVERNANCE GUIDELINES AUGUST 22, 2024 1. PERSONS SUBJECT TO THESE CORPORATE GOVERNANCE GUIDELINES The Board of Directors (the “Board”) of Opendoor Technologies Inc. (“Opendoor”) has established the following guidelines for each of the members of the Board. These guidelines are designed to give directors a flexible framework for effectively pursuing Opendoor’s objectives for the benefit of its stockholders. These guidelines should be interpreted in the context of all applicable laws, the Exchange (as defined below) listing standards, Opendoor’s certificate of incorporation and bylaws, and Opendoor’s other policies. 2. BOARD COMPOSITION AND SELECTION 2.1 Size of the Board. The Board will establish the number of directors in accordance with Opendoor’s certificate of incorporation and bylaws. The Nominating and Corporate Governance Committee will periodically review the appropriate Board size, which may vary to accommodate the availability of suitable candidates and Opendoor’s needs, and recommend any changes to the Board. 2.2 Independence of Directors. A majority of the directors on the Board must be independent, except as otherwise provided by the applicable rules of the Exchange. The Board will determine the independence of directors pursuant to listing standards of the primary exchange on which Opendoor’s common stock is listed (“Exchange”) and all factors the Board determines to be relevant to the ability of each director to exercise independent judgment in carrying out their Board responsibilities. The Board will make affirmative determinations of director independence, based on information provided by Board members and legal counsel, at such times as may be required by the rules of the Securities and Exchange Commission (the “SEC”) or Exchange listing standards, or otherwise when determined by the Board or its Nominating and Corporate Governance Committee. 2.3 Management Directors. The Board anticipates that the Chief Executive Officer will serve on the Board. Other members of management may serve on the Board if the Board determines it to be advisable. 2.4 Board Leadership. It is the policy of the Company that the positions of Chief Executive Officer and chairperson of the Board may be held by the same person. In the event that Opendoor does not have an independent chairperson of the Board, the independent directors may designate a lead independent director. The independent chairperson or lead independent director will be responsible for coordinating the activities of the independent directors. In addition to the duties of all Board members, the specific responsibilities of the independent chairperson or lead independent director are to: ● work with the Chief Executive Officer to develop Board meeting schedules and agendas; ● assist the Chief Executive Officer in the review and approval of information and materials to be sent to the Board, including providing the Chief Executive Officer feedback on the quality, quantity and timeliness of the information provided to the Board; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 46 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b96"], "char_count": 3291, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c7dfe3fee7f11010268566dba5fcf970eaa86b1fa673a0c486bf323056915e9d", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 96, "char_end": 3291, "char_start": 0, "fragment_sha256": "e8b94ddf51fcc863bccb681d5aff6a21bbd40449adbaae76b3221c47d5fad392", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p40", "passage_kind": "narrative", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 ● develop the agenda for and moderate executive sessions of the independent directors; ● assist the Chief Executive Officer in presiding over Board meetings (or, in the case of lead independent director, assist the Chief Executive Officer in presiding over Board meetings when the chairperson is not present); ● act as principal liaison between the independent members of the Board and the Chief Executive Officer; ● convene meetings of the independent directors as appropriate; ● if appropriate, and in coordination with management, be available for periodic consultation and direct communication with major shareholders; and ● perform other duties as the Board may determine from time to time. 2.5 Nomination of Directors. The Board will be responsible for nominating members for election to the Board by Opendoor’s stockholders and for filling any vacancies on the Board as provided in Opendoor’s certificate of incorporation and bylaws, subject to any limitations provided in Opendoor’s certificate of incorporation and any voting agreement that may be in effect. The Nominating and Corporate Governance Committee is responsible for identifying, reviewing, evaluating and recommending candidates to serve as directors of Opendoor, in accordance with its certificate of incorporation and bylaws and consistent with the criteria listed below. For nominations of potential candidates made other than by the Board, the stockholder or other person making such nomination must comply with any requirements provided therefor in Opendoor’s bylaws. Upon request, any candidate nominated will agree in writing to comply with these Corporate Governance Guidelines and all other policies and procedures of Opendoor applicable to the Board. The Nominating and Corporate Governance Committee will, periodically, review the procedures it has established for the consideration of nominees for election to the Board and the requirements included in Opendoor’s bylaws for the nomination of potential candidates for election to the Board other than by the Board. 2.6 Board Membership Criteria. The Board will determine the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members and will consider recommendations for nominees from its Nominating and Corporate Governance Committee. The Board will consider the minimum general criteria below, and may add any specific additional criteria with respect to specific searches, in selecting candidates and existing directors for serving on the Board. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics, the ability to read and understand basic financial statements, and being older than 21. In considering candidates for Board membership, the Board intends to consider factors it determines to be relevant to Board membership, including (without limitation) any or all of the following: ● relevant expertise to offer advice and guidance to management; ● sufficient time to devote to the affairs of Opendoor; ● excellence in their field; ● the ability to exercise sound business judgment; and Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 47 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b98"], "char_count": 3604, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7cb9630f8f98bd8c7d11daeda5b3f404256fe66ad86ed475bdd6eeb3de58b400", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 98, "char_end": 3604, "char_start": 0, "fragment_sha256": "5ea9a20c9183a7f63892ffd03e76372efd5d93117d4ebb362a13096cf7ec05f1", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 ● the commitment to represent the long-term interests of Opendoor’s stockholders. The Board will review candidates for director nomination in the context of the current composition of the Board, Opendoor’s operating requirements, the long-term interests of Opendoor’s stockholders, and any limitations on or requirements for Opendoor’s Board members set forth in Opendoor’s certificate of incorporation or bylaws or any voting agreement. In conducting this assessment, the Board will consider diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board. For incumbent directors, the Board will review those directors’ overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors’ independence. The Board will also determine whether the nominee must be independent for purposes of Exchange listing standards. 2.7 Changes in Board Membership Criteria. The Board wishes to have members who can productively contribute to the success of Opendoor. From time to time, the Board, in its discretion, may change the criteria for Board membership. When this occurs, the Board will evaluate existing members according to the new criteria. The Board may adjust the Board committee assignments for any director who no longer meets the complete criteria for Board membership or request that such director resign from the Board. 2.8 Term Limits. The Board does not believe it should limit the number of terms for which an individual may serve as a director. Directors who have served on the Board for an extended period of time may be able to provide continuity and valuable insight into Opendoor’s operations and prospects because of their experience and understanding of Opendoor’s history, policies, and objectives. The Board believes that it can ensure that it continues to evolve and adopt new ideas and viewpoints through the director nomination process in these guidelines. The director nomination process is designed to achieve what term limits seek to accomplish. 2.9 Limits on Board and Committee Service. The Board recognizes that a director’s ability to fulfill their responsibilities as a director can be impaired if they serve on multiple other boards of directors or board committees. Service on boards and board committees of other companies should be consistent with Opendoor’s Code of Business Conduct and Ethics and not impair a director’s ability to fulfill their responsibilities to Opendoor. Accordingly, directors should advise the chairperson of the Board or Nominating and Corporate Governance Committee before accepting an invitation to serve on the board of directors or committee of another company. In addition, generally, directors are not expected to serve simultaneously on more than five four public company boards, including Opendoor’s Board, except with the prior approval of the Board. T he Board does not have a limit on private company boards and will consider service on such boards on a case-by-case basis. In addition, if a member of the Audit and Risk Committee wishes to serve on the audit committees of more than three public companies, including the Company’s Audit and Risk Committee, the director must notify the Nominating and Corporate Governance Committee prior to accepting the additional service."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b98"], "char_count": 1324, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cea7e976138e37ebb7b3703f953a117c5cae76b318f42bf5c7e618f07a8e6821", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 98, "char_end": 4928, "char_start": 3604, "fragment_sha256": "5ea9a20c9183a7f63892ffd03e76372efd5d93117d4ebb362a13096cf7ec05f1", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p42", "passage_kind": "narrative", "passage_sequence": 42, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "In the event the Board or Nominating and Corporate Governance Committee determines that a director’s ability to fulfill their responsibilities to Opendoor is impaired as a result of non-Opendoor board of directors or board committee obligations, the Board may adjust such director’s Opendoor Board committee assignments or request that such director adjust their non- Opendoor board of directors or board committee service or resign from the Board. 2.10 Retirement Age. The Board believes that it is inappropriate to have a retirement age for directors. 2.11 Directors Who Change Their Job Responsibility; Conflict of Interest. A director who materially changes their present job (other than an ordinary course promotion) should notify the Board or the Nominating and Corporate Governance Committee. In the event the Board or Nominating and Corporate Governance Committee determines that a director’s ability to fulfill their responsibilities to Opendoor is Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 48 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b100"], "char_count": 3974, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9aaaf6390208abd174c02504c118f8b7b87dade73eee108af08053de747921b3", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 100, "char_end": 3974, "char_start": 0, "fragment_sha256": "6b9859698b0247c76a64d2d0fd37782ea20cb1d918fe773800e9bd055a8d14ec", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 impaired as a result of such material change, the Board may adjust such director’s Opendoor Board committee assignments or request that such director resign from the Board. A director shall offer to tender his or her resignation to the Board if the Board or the Nominating and Corporate Governance Committee has determined that an actual conflict of interest arises with respect to the director which is not waived by the Board. The Nominating and Corporate Governance Committee shall then recommend to the Board whether the Board should accept the offer to resign in light of the director’s conflict of interest or request that he or she continue to serve. 3. BOARD RESPONSIBILITIES 3.1 Duties Generally. Stockholders select directors to provide oversight and strategic guidance to senior management. A director’s responsibility is to fulfill their fiduciary duties of care and loyalty, and otherwise to exercise their business judgment in the best interests of Opendoor and its stockholders. Board service requires significant time and attention. More specifically, the Board has responsibilities to review, approve, and monitor fundamental financial and business strategies, to assess Opendoor’s major risks and consider ways to address those risks, and to select and oversee management. To fulfill their duties, directors must prepare for meetings and discussions with management, participate in Board meetings, review relevant materials (including those that may have been circulated prior to each meeting), and serve on committees if appointed by the Board. Opendoor expects directors to maintain an attitude of constructive involvement and oversight, ask relevant and incisive questions, and demand honest and accurate answers. Directors must act with integrity and demonstrate a commitment to Opendoor, Opendoor’s values, business, and long-term stockholder value. A director should discharge their duties, including duties as a member of any committee on which they serve, in good faith and in a manner the director reasonably believes to be in the best interests of Opendoor and its stockholders. In discharging their duties to Opendoor, Board members will comply with applicable laws and all policies and guidelines of Opendoor, including without limitation, Opendoor’s Code of Business Conduct and Ethics. 3.2 Disclosure of Information to the Board. Each director is expected to disclose promptly to the Board and respond promptly and accurately to periodic questionnaires or other inquiries from Opendoor regarding any existing or proposed relationships with Opendoor, including compensation and stock ownership, that could affect the independence of the director. Each director will also promptly inform the Board of any material change in such information, to the extent not already known by the Board. 3.3 Duty of Confidentiality. Directors have an obligation to protect and keep confidential all of Opendoor’s non-public information unless Opendoor has authorized public disclosure or unless otherwise required by applicable law. Confidential information includes all non-public information entrusted to or obtained by a director by reason of their position on the Board. This includes information regarding Opendoor’s strategy, business, finances, and operations, and will include minutes, reports, and materials of the Board and committees, and other documents identified as confidential by Opendoor. The obligations described above continue even after service on the Board has ended. Directors may not use such confidential information for personal benefit or to benefit other persons or entities other than Opendoor. Unless authorized by Opendoor or applicable law, directors will refrain from disclosing confidential information to anyone outside Opendoor, especially anyone affiliated with any entity or person that employs the director or has sponsored the director’s election to the Board."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b100"], "char_count": 593, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8ccde4fccba3320527e9c5ec733ffb111275d0219e27b06e334af0c05d4e78a9", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 100, "char_end": 4567, "char_start": 3974, "fragment_sha256": "6b9859698b0247c76a64d2d0fd37782ea20cb1d918fe773800e9bd055a8d14ec", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p44", "passage_kind": "narrative", "passage_sequence": 44, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "These obligations continue even after service on the Board has ended. Any questions or concerns about potential disclosures should be directed to Opendoor’s Chief Legal Officer, who then may communicate with the Chief Executive Officer or the Board or Nominating and Corporate Governance Committee regarding the potential disclosures. 3.4 Board Interaction with Media, Investors and Others. Management, and not the Board or individual directors, should normally speak for the Company. Individual directors (other than the Chief Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 49 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b102"], "char_count": 3656, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "64397611577223665d17783627173e15a00f530b178f0ebf90d9e89cda36a857", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 102, "char_end": 3656, "char_start": 0, "fragment_sha256": "34f5679c62c2188baaf1f9e9828ce31ff193f3a186f3fe8f591efaf94db7fd14", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p45", "passage_kind": "narrative", "passage_sequence": 45, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 Executive Officer) wishing to communicate with the media, current or potential future investors in Opendoor or any other Opendoor constituency in any manner relating to Opendoor must first seek approval for such communication from Opendoor’s Head of Communications (except in those rare cases when a member of a Board committee may be required to communicate with a third party without the knowledge of any of such persons, as may be advised by counsel). 4. BOARD MEETINGS 4.1 Number of Meetings. The Board expects to have at least four regular Board meetings each year. 4.2 Attendance and Preparation. Opendoor expects Board members to prepare for, attend and participate in all meetings of the Board and committees on which they serve. Directors should notify Opendoor’s Secretary when they will be absent from a meeting. Opendoor will provide directors with appropriate materials before the meeting, except in unusual or exigent circumstances. 4.3 Agenda. The chairperson or lead independent director, together with the Chief Executive Officer, will create a schedule of topics to be discussed during the year and an agenda for each Board meeting. Each Board member is encouraged to suggest topics for the agenda at any time, and each Board member is free to raise subjects that are not on the agenda. 4.4 Executive Session. The independent directors will meet periodically in executive session no less than two times per year or whatever minimum has been set by applicable Exchange listing standards. Executive session discussions may include any topics decided by the attendees. 4.5 Committee Reports. At each regular Board meeting, if requested by the Board, each committee will present a brief summary of the principal subjects discussed, any conclusions reached, and the final actions of the committee. The chairperson of the appropriate committee will present the report. Minutes of committee meetings will be available to any director. 5. BOARD COMMITTEES 5.1 Number of Committees; Independence of Members. The Board will constitute and maintain to the extent required by applicable law or Exchange listing standards: an Audit and Risk Committee, a Compensation Committee, and a Nominating and Corporate Governance Committee. Only independent directors may serve on the Audit and Risk Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee, subject to any available exception. The Board may form, merge, or dissolve additional committees, as it deems appropriate. 5.2 Committee Functions and Charters. All standing committees will have a written charter that describes the committee’s responsibilities. Each committee will periodically review its charter and recommend any proposed charter changes to the Board. 5.3 Board Committee Membership. The Board or Nominating and Corporate Governance Committee oversees the Board’s committee structure and operations. The Nominating and Corporate Governance Committee may make recommendations to the Board regarding each committee’s chairperson and membership at any time. In making those recommendations, the Nominating and Corporate Governance Committee will consider the interests, independence, and experience of the directors and the independence and experience requirements of the Exchange, the rules and regulations of the SEC, and applicable law. 5.4 Committee Meetings and Agenda. Each committee chairperson, in consultation with that committee’s members, will determine the frequency, length, and agenda for each committee meeting Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 50 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b104"], "char_count": 3528, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d6d55cca7aa05c49b43626a29ee0a580eccca27e47dcb9e8ac2df88f51fa6222", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 104, "char_end": 3528, "char_start": 0, "fragment_sha256": "2376f16c52364cb327f02b78831251c2ae7eb75bce0ee4ef55fb5118eae17761", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "6 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 and the appropriate attendees in light of that committee’s charter, the authority delegated by the Board to that committee, and the legal, regulatory, accounting, and governance principles applicable to that committee’s functions. 6. BOARD ACCESS TO MANAGEMENT; USE OF OUTSIDE ADVISORS Board members will have access to Opendoor management, subject to such processes as deemed appropriate by the Board or the Nominating and Corporate Governance Committee. Board members are expected to use their judgment to ensure that this contact is not distracting to Opendoor’s operations or to management’s duties and responsibilities. The Board and each committee will have the power to hire, at the expense of Opendoor, and will have access to, independent legal, financial, or other advisors that they may deem necessary, without consulting or obtaining the advanced approval of any officer. 7. DIRECTOR ORIENTATION AND EDUCATION All Board members are encouraged to participate in continuing education programs, with any associated expenses to be reimbursed by Opendoor, in order to stay current and knowledgeable about Opendoor’s business and industry. The Board or Nominating and Corporate Governance Committee may implement an orientation process for directors that includes background material on Opendoor’s policies and procedures, meetings with senior management, and visits to Opendoor’s facilities. The Board may also offer continuing education programs to assist the directors in maintaining the level of expertise necessary to perform their duties. 8. DIRECTOR COMPENSATION The Compensation Committee will review and recommend to the Board the type and amount of director compensation for Board and committee service for non-management directors. Compensation for non- management directors and committee members should be designed to be aligned with the long-term interests of the stockholders and consistent with market practices of similarly situated companies. In determining compensation, the Board will consider the impact on the director’s independence and objectivity. 9. CHIEF EXECUTIVE OFFICER EVALUATION The Board will review the Chief Executive Officer’s performance annually. The Board will evaluate performance based on objective criteria, including how well the business achieves long-term strategic objectives and successfully develops management. The Compensation Committee and Board will use this evaluation when considering the compensation of the Chief Executive Officer. 10. MANAGEMENT SUCCESSION PLANNING The Board or a duly authorized committee of the Board should develop and periodically review with the Chief Executive Officer a plan with respect to executive officers’ succession and consider appropriate individuals who might fill those positions. The Chief Executive Officer should also recommend and evaluate potential successors. The Chief Executive Officer will also review any development plans for those potential successors. 11. BOARD ASSESSMENT The Nominating and Corporate Governance Committee will oversee an annual assessment of the Board and its committees, the results of which will be discussed with the Board. In addition, each committee shall Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Formatted: Font: (Default) Times New Roman Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 51 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b106", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b108", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b110"], "char_count": 3762, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bd246cf9a5449255fb3eb8e74d02da0392e7832e42ba9f147e2e2e2d69950e63", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 106, "char_end": 819, "char_start": 0, "fragment_sha256": "e6657cc9e9337b5e5290b7ce1c27439959fe41e126d2c90054d3ab5389d8e7ef", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 108, "char_end": 75, "char_start": 0, "fragment_sha256": "0ce00a7fcbf09d9baed49f8aa2a5fc590be601e912ad36978e9094fd3a249d62", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 110, "char_end": 2864, "char_start": 0, "fragment_sha256": "53a285e671f68c391158a872424207a03827e2b2bb26595d1cff8a217719f293", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p47", "passage_kind": "narrative", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "7 Exhibit A-3 to Settlement Term Sheet Dated April 25, 2025 establish and conduct an annual self-evaluation of its performance and deliver a report, which may be oral, setting forth the results of its evaluation. REVIEW OF CORPORATE GOVERNANCE GUIDELINES The Nominating and Corporate Governance Committee will periodically review and assess the adequacy of these guidelines and recommend any proposed changes to the Board for approval. 12. QUESTIONS If you have any further questions about any aspect of these Corporate Governance Guidelines, please contact Opendoor’s Chief Legal Officer. (As adopted by the Board of Directors on December 18, 2020, re-approved on December 7, 2021, February 9, 2023 and December 21, 2023 and amended on August 22, 2024) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 52 of 95\n\nExhibit 3 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 53 of 95\n\nExhibit A-4 to Settlement Term Sheet Dated April 25, 2025 OPENDOOR TECHNOLOGIES INC. DISCLOSURE COMMITTEE CHARTER AUGUST 22[____], 20245 INTRODUCTION This Charter (the “Charter”) of the Disclosure Committee of Opendoor Technologies Inc., a Delaware corporation (together with its subsidiaries, “Opendoor”) has been adopted by the Chief Financial Officer and the Chief Legal Officer of Opendoor (collectively, including any persons then acting in such capacities on an interim basis, the “Senior Officers”), and adopted and approved by the Audit and Risk Committee (the “Audit and Risk Committee”) of Opendoor’s Board of Directors (the “Board”). Opendoor has also adopted a Corporate Disclosure Policy that prevent the inappropriate and selective disclosure of material nonpublic information regarding Opendoor and to establish guidelines for the disclosure of material non- public information by Opendoor. This Charter is subject to amendment from time to time by mutual agreement of the Senior Officers and ratification by the Audit and Risk Committee. PURPOSE The purpose of the Disclosure Committee is to: ● oversee the production of information required to be disclosed on a timely basis by Opendoor in its: o filings with, or submissions to, the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which shall include annual reports on Form 10-K (each, an “Annual Report”), quarterly reports on Form 10-Q (each, a “Quarterly Report”), current reports on Form 8-K (each, a “Current Report”), definitive proxy materials and any amendments to these reports or documents (collectively, the “SEC Filings”); o press releases containing financial information, earnings guidance, information about material developments in Opendoor’s business, material acquisitions or dispositions, or other information material to Opendoor’s stockholders (the “Investor Information”); and o such other information and materials that may be disclosed either publicly or to government regulators when required or as may otherwise be designated from time to time by the Senior Officers (collectively with the SEC Filings and the Investor Information, the “Disclosure Statements”). ● collect the information accumulated in connection with Disclosure Statements; ● make inquiries when the Disclosure Committee believes it appropriate to assure itself of completeness and reliability of such Disclosure Statements; and ● upon request, make determinations and recommendations concerning materiality and required disclosure obligations on a timely basis, together with the Senior Officers, as more particularly described below. Formatted: Not Expanded by / Condensed by Formatted: Not Expanded by / Condensed by Formatted: Not Expanded by / Condensed by Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 54 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b112"], "char_count": 2326, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a8855cd8a2b36c59341f59a4f83f6a68080315f2d573cdc4af3ffb1ecbcbd1af", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 112, "char_end": 2326, "char_start": 0, "fragment_sha256": "88ed8cf39c22ebf36444fa398502d99021049bdddb058236e79c840315713b21", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 MEMBERSHIP The Disclosure Committee shall be composed of officers and other employees of Opendoor who are familiar with the critical operating aspects of Opendoor and who have an interest in, and the expertise to serve on, the Disclosure Committee, including Senior Officers and any other officers or employees of Opendoor. The following individuals have been designated to serve on this Disclosure Committee: ● Chief Financial Officer; ● Chief Legal Officer; and ● Those other individuals who are responsible for the following functions: ○ Corporate Finance & Strategy; ○ Capital Markets; ○ Accounting and Financial Reporting1; ○ Investor relations; and ○ Sarbanes-Oxley Compliance In addition, the Disclosure Committee may include other senior individuals who are knowledgeable about Opendoor’s business, as may be deemed appropriate from time to time by the Senior Officers. The Corporate Controller Chief Accounting Officer shall serve as the chairperson of the Disclosure Committee. In addition, the Senior Officers shall appoint an administrator for the Disclosure Committee (the “Disclosure Administrator”) who shall be responsible for: ● scheduling meetings and preparing agendas; ● coordinating the activities of the Disclosure Committee; ● appointing Disclosure Committee members to work with the various business units or departments within Opendoor from which information is gathered based on such member’s position and expertise; ● interfacing with the Audit and Risk Committee and the Board; ● preparing and implementing time and responsibilities schedules; and ● documenting compliance with disclosure policies and procedures. The initial Disclosure Administrator shall be the Chief Accounting OfficerCorporate Controller or a delegate. MEETINGS The Disclosure Committee shall meet at least quarterly, or more frequently as its members deem may be necessary under the circumstances, to: ● ensure the fairness, accuracy, completeness and timeliness of the Disclosure Statements; ● evaluate Opendoor’s Disclosure Controls (as defined below) and internal control over financial reporting; and 1 The designated member may be either the Chief Accounting Officer or the Corporate Controller. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 55 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b114"], "char_count": 3502, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2f4e0c64e40652470754565213916752a2c6f0243f4611bc79525d1c5fb1c253", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 114, "char_end": 3502, "char_start": 0, "fragment_sha256": "fc92a3f80138c9ae4746ad74f03992ec5e2e912b5d4317f0434a6e2c07b59061", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p49", "passage_kind": "narrative", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 ● determine whether any changes to such Disclosure Controls or internal control over financial reporting are necessary or advisable in connection with the preparation of Opendoor’s Disclosure Statements, taking into account developments since the most recent Disclosure Committee meeting, including changes in Opendoor’s organization or business focus and changes to economic or industry conditions. The presence in person or by video or telephone of a majority of the Disclosure Committee’s members shall constitute a quorum for any meeting of the Disclosure Committee and the act of a majority of the members present at any meeting at which there is a quorum shall be the act of the Disclosure Committee. Minutes of each meeting of the Disclosure Committee shall be prepared and kept with the Disclosure Committee records for review from time to time by the Senior Officers and Audit and Risk Committee members. The Disclosure Administrator or one of the Senior Officers shall report to the Board or Audit and Risk Committee from time to time, or whenever so requested by the Board or Audit and Risk Committee. AUTHORITY The Disclosure Committee shall be authorized to access such internal and, in consultation with the Senior Officers, external resources (such as outside legal counsel and Opendoor’s independent registered public accounting firm) as the Disclosure Committee deems necessary or appropriate to fulfill its responsibilities hereunder, at the expense of Opendoor. Specifically, and without limitation, the Disclosure Committee shall have full access to all Company books, records, facilities and personnel, including internal auditors, if any. OPERATING PRINCIPLES AND PROCESSES In fulfilling its function and responsibilities, the Disclosure Committee should give due consideration to the following operating principles and processes: ● Charter Interpretation. Any question regarding the interpretation of this Charter or the Disclosure Committee’s procedures as set forth herein shall be determined by a Senior Officer or, in the absence of the Senior Officers, the Disclosure Administrator. ● Disclosure Statements. The Disclosure Committee may designate two or more officers or employees, at least one of whom shall be knowledgeable about the rules and regulations and disclosure obligations relating to Opendoor (and the applicable SEC and stock exchange rules and regulations with respect thereto) and at least one of whom shall be knowledgeable about financial reporting, who can, acting together, including in consultation with outside legal counsel at their discretion, to review the Disclosure Statements (other than the SEC Filings) when circumstances do not permit the full Disclosure Committee to meet and review such Disclosure Statements. ● Subcommittees. The Disclosure Committee shall appoint members to subcommittees as necessary, appropriate or desirable to discuss and review less material issues that may be within the expertise of such members. One member shall be designated to be the reporter for such subcommittee and shall keep minutes of each of the subcommittee’s meetings. The subcommittee reporter should distribute the minutes to each subcommittee member prior to the next full Disclosure Committee meeting and should present such minutes for discussion to the full Disclosure Committee at the next Disclosure Committee meeting. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 56 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b116"], "char_count": 3985, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "abb40ebd020977093e20c89f182b4ae2f754af0c10cb2c67359a43e6ddcaa123", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 116, "char_end": 3985, "char_start": 0, "fragment_sha256": "6450f935406dd3ded314cafa84866cb697736fa09cf90f487f0ff6d2f5ca4762", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 RESPONSIBILITIES Subject to the supervision and oversight of the Senior Officers, the Chief Accounting OfficerCorporate Controller has sole decision-making responsibilities for the primary responsibilities of the Disclosure Committee described below, which may be delegated by the Chief Accounting OfficerCorporate Controller to one or more of its members: 1. Disclosure Controls and Procedures. Assisting the Senior Officers in designing and establishing controls and other procedures (which may include controls and other procedures currently in use by Opendoor) to ensure that (i) information required to be disclosed by Opendoor in order to comply with federal and state securities laws is recorded, processed, summarized and reported accurately and on a timely basis, and (ii) such information is accumulated and communicated to the Senior Officers and the Disclosure Committee to allow timely decisions regarding such required disclosure (the “Disclosure Controls”).2 2. Internal Control Over Financial Reporting. To the extent required by applicable law, rule or regulation, assisting the Senior Officers in monitoring the integrity and effectiveness of Opendoor’s internal control over financial reporting. The Disclosure Committee should work closely with the finance department and internal auditors, if any, to ensure that internal controls are designed and operating effectively and that disclosures are appropriate. 3. Collection of Information. Ensuring that information potentially required to be disclosed is accumulated and communicated to the Disclosure Committee, as well as testing and confirming the reliability of the accumulated information. 4. Certification Obligations. Assisting the Company’s executive officers in complying with their certification obligations under the Exchange Act, which should include a discussion and review of the Disclosure Controls, the information accumulated, and any follow-up that may be necessary. 5. Preparation of Time and Responsibilities Schedules. Preparing (or reviewing, if prepared by other Company personnel) and updating a detailed time and responsibilities schedule for each Annual Report and Quarterly Report, definitive proxy statement and definitive information statement to be filed pursuant to the Exchange Act, and each Current Report as deemed necessary by the Disclosure Administrator or the Senior Officers. 6. Reviewing Disclosure Statements. SReviewing and supervising the preparation of the Disclosure Statements and, prior to the filing, issuance or posting, reviewing all Disclosure Statements to ensure such statements are fair, accurate, complete and timely and presenting them for review to the Senior Officers. 7. Evaluating Disclosure Controls and Internal Control Over Financial Reporting. Assisting the Senior Officers in evaluating the effectiveness and integrity of (a) the Disclosure Controls as of the end of the period covered by the Annual Report and each Quarterly Report and (b) to the extent required by applicable law, rule or regulation, Opendoor’s internal control over financial reporting in connection 2 The Disclosure Committee should consider the following: what information it needs; the source of such information; how it can be captured or accumulated; how the information should be processed, summarized or communicated; who should have access to and review the information; and various other steps and processes leading to the decision of whether and how to disclose the information in a Disclosure Statement. The Disclosure Committee should consider how far down the chain of responsibility to go to assure itself of the completeness of the information-gathering process. Rather than develop new information flows, the Disclosure Committee should first consider whether existing information flows are adequate or can be enhanced as well as the applicability of systems from other industries similar to the Company."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b116"], "char_count": 149, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "154fddbd217d0fe751d8f5427ddedf6a2b1c1dc574ab1e4582e7ffa03ee2d05c", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 116, "char_end": 4134, "char_start": 3985, "fragment_sha256": "6450f935406dd3ded314cafa84866cb697736fa09cf90f487f0ff6d2f5ca4762", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Formatted: Font: Not Bold Formatted: Font: Not Bold, Not Expanded by / Condensed by Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 57 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b118"], "char_count": 2304, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f378b1e30728af57ef7b43d34574f5e68072a456c0ec5f7c3e812861ff000695", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 118, "char_end": 2304, "char_start": 0, "fragment_sha256": "7e724780779fc878cf1bfe0a2bc6ac0948ce4f0a9057eefc98243d3668557121", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 with the filing of the Annual Report.33 8. Meeting with the Audit and Risk Committee. The Disclosure Committee or the Disclosure Administrator (or one or more of the Senior Officers), on behalf of the Disclosure Committee, will meet with the Audit and Risk Committee as part of the Disclosure Committee’s regular review of the Annual Report and each Quarterly Report (and other Disclosure Statements, when applicable and as deemed necessary, appropriate or desirable by the Senior Officers) to ensure the disclosure of the following items to the Audit and Risk Committee: 8. (a) the due diligence procedures undertaken by the Senior Officers with respect to the Disclosure Statement at issue; (b) any issues of concern that were uncovered in the due diligence process; (c) the contents of the Senior Officers’ personal certifications, if applicable; and (d) the contents of any disclosure regarding (i) the effectiveness of the Disclosure Controls, (ii) all significant deficiencies in the design or operation of Opendoor’s internal controls that could adversely affect Opendoor’s ability to record, process, summarize and report financial data, (iii) any material weakness in Opendoor’s internal controls, (iv) changes in Opendoor’s internal controls or in other factors that could significantly affect Opendoor’s internal controls or (v) any fraud, whether or not material, that involves management or other employees who have a significant role in Opendoor’s internal controls. 9. Disclosure Best Practices. Conducting a preliminary evaluation early in a reporting cycle of the Disclosure Controls so that any necessary changes can be implemented prior to the actual evaluation that is as of the end of the period covered by the Annual Report or Quarterly Report, as applicable, as well as regularly monitoring the financial press, online forums and other third party forums for comments and criticisms targeted at or applicable to Opendoor, and periodically reviewing the filings with the SEC made by other companies in the same industry as Opendoor and other related industries to ensure that the Senior Officers and other members of Opendoor’s management remain apprised of relevant trends in corporate disclosure practices. 10. Training."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b118"], "char_count": 2649, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b0fd7d51ec496ba3f6a5487946b9c61622ffc3a3b08c293f16fec2f2c3c7763b", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 118, "char_end": 4953, "char_start": 2304, "fragment_sha256": "7e724780779fc878cf1bfe0a2bc6ac0948ce4f0a9057eefc98243d3668557121", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Periodically conduct training for the Disclosure Committee with respect to developments in best practices for disclosure committees, new legal, regulatory and compliance developments impacting the responsibilities of the Disclosure Committee and any developments in related 3 The issues and questions that can be raised in evaluating internal control over financial reporting include: (1) whether the financial reporting systems are adequate to produce consistently accurate results; (2) whether adequate controls exist to reduce the risk of fraud; (3) whether the Company has monitored and evaluated its internal controls during the reporting period; (4) whether any irregularities involve management or employees who play a significant role in the internal controls or could have an effect on the Company’s financial statements; (5) whether any deficiencies in internal controls have: (i) been identified through internal control reviews (questionnaires), internal audit reports and other means; (ii) been corrected or are the subject of current remedial action; (iii) been the subject of an auditor’s management letter; or (iv) prevented the preparation of financial statements in accordance with U.S. generally accepted accounting principles; (6) what is being done to address any identified deficiencies; (7) whether anything came to the attention of the personnel responsible for the preparation of financial reports which would indicate the possibility of significant undisclosed financial exposures or the need for a restatement of prior period financial statements; (8) any whistleblower activities from in-house personnel, particularly those related to the finance function or any disagreement or matter that has received significant discussion with the outside auditors; (9) whether the reportable conditions set forth in the outside auditors’ letter, if applicable, have been corrected; (10) whether any communications (oral or written) from customers, suppliers, regulatory agencies or lenders concerning noncompliance with laws or agreements exists; and (11) whether any waivers or requests for waivers of the corporate ethics, insider trading and conduct rules for executive officers, directors and other key employees have occurred. Formatted: Justified, Right: 0.07\" Formatted: List Paragraph, Justified, Indent: First line: 0\", Numbered + Level: 1 + Numbering Style: 1, 2, 3, … + Start at: 1 + Alignment: Left + Aligned at: -0.43\" + Indent at: 0.07\", Tab stops: 0.57\", Left Formatted: Body Text, Left, Indent: Left: 0\", Space Before: 4.1 pt, Tab stops: Not at 0.57\" Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 58 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b120"], "char_count": 1534, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b113ead6cf9615c35153cd0dc2410b949ca2d9d632fc37a57e5b7a3dd610492a", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 120, "char_end": 1534, "char_start": 0, "fragment_sha256": "451aa4ab6c18b154f514381a5a6155320dd08c14706edb9e99de64bda6537533", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "6 Exhibit A-4 to Settlement Term Sheet Dated April 25, 2025 law enforcement priorities, enforcement actions or case law. 11. Disclosure Committee Self-Assessment. Periodically reviewing, discussing and assessing its own performance, as well as the Disclosure Committee’s purpose and, responsibilities and membership, and seeking input with respect thereto from senior management, the Audit and Risk Committee and others as deemed necessary, as well as reviewing and assessing the adequacy of this Charter and periodically notifying the Audit and Risk Committee of any proposed changes. Any proposed changes to the role or responsibilities of the Disclosure Committee shall be recommended to the Senior Officers for approval and implementation according to the procedures described above. The Disclosure Committee shall also periodically review Opendoor’s Corporate Disclosure Policy and present recommendations for changes to such policy, if any, to the Senior Officers. 12. Other Responsibilities. Performing such other responsibilities as the Senior Officers may assign the Disclosure Committee from time to time, in accordance with terms of this Charter. (As adopted by the Audit and Risk Committee of the Board of Directors on December 18, 2020, and amended on December 6, 2021, December 7, 2022 and December 6, 2023, and re-approved on August 22, 2024, and amended on [___], 2025) Formatted: Font: Not Bold Formatted: Centered, Indent: Left: 0.05\", Hanging: 0.01\" Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 59 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b122", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b124"], "char_count": 3508, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "734c4d96b704b5db0aa1348b9684c2f9b073f0b89ac7e80d1a4284bba1d9c84c", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 122, "char_end": 75, "char_start": 0, "fragment_sha256": "b23c84cc87f7aa0432410dd07d475b1ce0cf28e6d2600832ce17d8baf912e05d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 124, "char_end": 3431, "char_start": 0, "fragment_sha256": "326ce8a8b433eb47a050e4e73cfdf0a8147b86f090d4b03f5ae0f386954770c7", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p55", "passage_kind": "narrative", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "Exhibit 4 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 60 of 95\n\n1 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 CHARTER OF THE NOMINATING AND CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS OF OPENDOOR TECHNOLOGIES INC. AUGUST 22, 2024 I. PURPOSE OF THE COMMITTEE The purposes of the Nominating and Corporate Governance Committee (the “Committee”) of the Board of Directors (the “Board”) of Opendoor Technologies Inc. (the “Company”) shall be to identify individuals qualified to serve as directors of the Company and on committees of the Board; to recommend to the Board the director nominees for election at the next annual meeting of shareholders; to advise the Board with respect to the Board composition, procedures and committees; to develop and recommend to the Board a set of corporate governance guidelines applicable to the Company; and to oversee the evaluation of the Board and the Company’s management. II. COMPOSITION OF THE COMMITTEE The Committee shall consist of two or more directors, as determined from time to time by the Board. Each member of the Committee shall be qualified to serve on the Committee pursuant to the requirements of the Nasdaq Stock Market LLC (“Nasdaq”), subject to any available exception, and any additional requirements that the Board deems appropriate. The chairperson of the Committee shall be designated by the Board; provided that if the Board does not so designate a chairperson, the members of the Committee, by a majority vote, may designate a chairperson. Any vacancy on the Committee may be filled by majority vote of the Board. No member of the Committee shall be removed except by majority vote of the Board. III. MEETINGS AND PROCEDURES OF THE COMMITTEE The Committee shall meet as often as it determines necessary to carry out its duties and responsibilities, but at least once annually. The Committee, in its discretion, may ask members of management or others to attend its meetings (or portions thereof) and to provide pertinent information as necessary. The Committee may form subcommittees for any purpose that the Committee deems appropriate and may delegate to such subcommittees such power and authority as the Committee deems appropriate; provided, however, that the Committee shall not delegate to a subcommittee any power or authority required by any law, regulation or listing standard to be exercised by the Committee as a whole. A majority of the members of the Committee present in person or by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other shall constitute a quorum. The vote of a majority of the members of the Committee present at any meeting at which a quorum is present shall be the act of the Committee, except as may be otherwise specifically provided by statute, the Certificate of Incorporation or the Bylaws of the Company. The Committee shall maintain minutes of its meetings and records relating to those meetings and shall report regularly to the Board on its activities, as appropriate. The provisions of the Company’s certificate of incorporation (as amended from time to time, the “Certificate of Incorporation”), the Company’s bylaws (as amended from time to time, the “Bylaws”) relating to meetings of the board of directors of the Company shall apply equally to meetings of the committee unless otherwise stated herein. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 61 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b126"], "char_count": 3644, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e8e6e6e8976638532fc77a2c71547fe0b6dcc18cfbd70e043410414f347f55b4", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 126, "char_end": 3644, "char_start": 0, "fragment_sha256": "8aee4dd7583f02d4d12ce8ab9b7f2ac2bf64cb788e534b91d7ccb4f2cfc4776c", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p56", "passage_kind": "narrative", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 IV. DUTIES AND RESPONSIBILITIES OF THE COMMITTEE A. Board Candidates and Nominees The Committee shall have the following duties and responsibilities with respect to Board candidates and nominees: (a) To assist in identifying, recruiting and, if appropriate, interviewing and evaluating candidates to fill positions on the Board, including persons suggested by shareholders or others. The Committee may, if it deems appropriate, establish procedures to be followed by shareholders in submitting recommendations for Board candidates. The Committee will, periodically, review the procedures it uses to identify, recruit, interview and evaluate Board nominees and candidates, including the procedures to be followed by shareholders to submit recommendations. (b) To review the background and qualifications of individuals being considered as director candidates. Among the qualifications considered in the selection of candidates, the Committee shall look to the criteria set forth in the Company’s Corporate Governance Guidelines and such other relevant factors that the Committee considers appropriate in the context of the needs of the Board, including factors that could impair the independence or create potential conflicts of interest, such as interlocking directorships and familial or substantial social, civic or philanthropic relationships with members of management. (c) To recommend to the Board the director nominees for election by the shareholders or appointment by the Board, as the case may be, pursuant to the Certificate of Incorporation and Bylaws, which recommendations shall be consistent with the criteria for selecting directors established by the Board from time to time. (d) To review the suitability for continued service as a director of each Board member when his or her term expires and, in accordance with the Corporate Governance Guidelines, when he or she has a material change in status, including, but not limited to, an employment change. B. Board Composition and Procedures The Committee shall have the following duties and responsibilities with respect to the composition and procedures of the Board as a whole: (a) To review annually with the Board the composition of the Board as a whole and to recommend, if necessary, measures to be taken so that the Board reflects the appropriate balance of knowledge, experience, skills, expertise and diversity required for the Board as a whole and contains at least the minimum number of independent directors required by Nasdaq. (b) To review periodically the size of the Board and to recommend to the Board any appropriate changes. (c) To make recommendations on the frequency and structure of Board meetings. (d) To make recommendations concerning any other aspect of the procedures of the Board that the Committee considers warranted, including but not limited to procedures with respect to the waiver by the Board of any Company rule, guideline, procedure related to corporate governance or corporate governance principle. C. Board Committees The Committee shall have the following duties and responsibilities with respect to the committee structure of the Board: (a) To monitor the functioning of the committees of the Board and to make recommendations for any changes, including the creation and elimination of committees. (b) To review annually committee size, membership and composition, including chairpersonships, and recommended any changes to the Board for approval, and to recommend individual directors to fill any vacancy that Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 62 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b128", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b130"], "char_count": 3155, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "83f346618f33666fd3a6d4742083b7e2eebef8c4fd3c001def939669536b6ec1", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 128, "char_end": 168, "char_start": 0, "fragment_sha256": "bb40ebe547977782dbc25063ca1b59f07abb5a2b582fa25ede39ef33101853e7", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 130, "char_end": 2985, "char_start": 0, "fragment_sha256": "07a868444d901c76a358593c9417f1b59dcde33157ecf9be997a4dac1d2e799c", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p57", "passage_kind": "narrative", "passage_sequence": 57, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 might occur on any committee of the Board. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 63 of 95\n\n4 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 (c) To recommend that the Board establish such special committees as may be desirable or necessary from time to time in order to address ethical, legal or other matters that may arise. The Committee’s power to make such a recommendation under this Charter shall be without prejudice to the right of any other committee of the Board, or any individual director, to make such a recommendation at any time. D. Corporate Governance The Committee shall have the following duties and responsibilities with respect to corporate governance: (a) To develop and recommend to the Board a set of corporate governance guidelines for the Company, which shall be consistent with any applicable laws, regulations and listing standards. At a minimum, the corporate governance guidelines developed and recommended by the Committee shall address the following: (i) Director qualification standards. (ii) Director responsibilities. (iii) Director access to management and, as necessary and appropriate, independent advisors. (iv) Director compensation, including principles for determining the form and amount of director compensation, and for reviewing those principles, as appropriate. (v) Director orientation and continuing education. (vi) Management succession, including policies and principles for the selection and performance review of the chief executive officer, as well as policies regarding succession in the event of an emergency or the retirement of the chief executive officer. (vii) Annual performance evaluation of the Board. (b) To review periodically the corporate governance guidelines adopted by the Board to assure that they are appropriate for the Company, and to recommend any desirable changes to the Board. (c) To review periodically and provide oversight with respect to the Company’s strategy, initiatives and policies concerning environmental, social and governance (“ESG”) matters. (d) To consider any other corporate governance issues that arise from time to time, and to develop appropriate recommendations for the Board. E. Evaluation of the Board and its committees The Committee shall be responsible for overseeing an annual evaluation of the Board as a whole and its committees, and shall evaluate and report to the Board on the performance and effectiveness of the Board. The Committee may establish procedures to allow it to exercise this oversight function. F. Miscellaneous The Committee shall perform such additional activities, and consider such other matters, consistent with the scope of the Committee’s responsibilities under this Charter, the purposes of the Committee, the Company’s Bylaws and applicable Nasdaq rules. V. EVALUATION OF THE COMMITTEE The Committee shall, on an annual basis, evaluate its performance. The Committee shall deliver to the Board a report, which may be oral, setting forth the results of its evaluation. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 64 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b132", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b134"], "char_count": 1460, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "502430ec9c21da3e9abbf9a11e4ea9d355c6557044dbc9f018dc92421cb8c2f1", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 132, "char_end": 1383, "char_start": 0, "fragment_sha256": "e4ff9fde656bf0ac3a42d16f81fde7ef7101ac7352fb1375fc1a954e3d2879b0", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 134, "char_end": 75, "char_start": 0, "fragment_sha256": "edf61bdcd45d3c45ff1206e9150e5b9690dc69e233a9ae14839ef623f8e52231", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p58", "passage_kind": "narrative", "passage_sequence": 58, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 Exhibit A-5 to Settlement Term Sheet Dated April 25, 2025 VI. REVIEW OF CHARTER The Committee shall annually review and assess the adequacy of this Charter and recommend any proposed changes to the Board for approval. VII. INVESTIGATIONS AND STUDIES; OUTSIDE ADVISERS The Committee may conduct or authorize investigations into or studies of matters within the Committee’s scope of responsibilities, and may retain, at the Company’s expense, such independent counsel or other consultants or advisers as it deems necessary. The Committee shall have the sole authority to retain or terminate any search firm to be used to identify director candidates, including sole authority to approve the search firm’s fees and other retention terms, such fees to be borne by the Company. * * * While the members of the Committee have the duties and responsibilities set forth in this Charter, nothing contained in this Charter is intended to create, or should be construed as creating, any responsibility or liability of members of the Committee, except to the extent otherwise provided under applicable U.S. federal or state law. (As adopted by the Board of Directors on September 30, 2021, re-approved by the Board of Directors on February 9, 2023, and amended by the Board of Directors on December 21, 2023 and August 22, 2024) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 65 of 95\n\nExhibit 5 Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 66 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b136"], "char_count": 3334, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ac8c066e88e58238bc1168fa8efa74ffb283a17518009f105548a64e6ab45bb6", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 136, "char_end": 3334, "char_start": 0, "fragment_sha256": "c63730bcea4728face4de45961838e259bf83b0d3b52afc693ca00a96c4f87c3", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p59", "passage_kind": "narrative", "passage_sequence": 59, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "1 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 OPENDOOR TECHNOLOGIES INC. CORPORATE DISCLOSURE POLICY AUGUST 22[___], 20245 1. PERSONS SUBJECT TO THIS POLICY This policy applies to all directors, officers, other employees, and individual consultants and contractors of Opendoor Technologies Inc. and its subsidiaries (collectively, “Opendoor”). Individuals subject to this policy are responsible for ensuring that members of their households also comply with this policy. This policy also applies to any entities controlled by individuals subject to the policy, including any corporations, limited liability companies, partnerships or trusts. 2. CORPORATE DISCLOSURE POLICY 2.1 Purpose of This Policy. Opendoor has adopted this Corporate Disclosure Policy to prevent inappropriate or selective disclosure of material nonpublic information regarding the company. This policy also establishes guidelines for disclosure of material nonpublic information to the investing public, financial market analysts, the media, and any persons who are not Opendoor employees or a member of our Board of Directors in accordance with the requirements of the fair disclosure regulation (“Regulation FD”) adopted by the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended. For more information on Regulation FD, see Section 2.7 below. The disclosure of material information by Opendoor generally will be made only through press releases, filings with the SEC or other means reasonably designed to provide broad, non-selective distribution of the information to the public. 2.2 What is “Material” Information? Information is “material” if there is a substantial likelihood that a reasonable investor would consider it important in making an investment decision, or if a reasonable investor would view it as altering the total mix of information available. In short, material information includes any information that could reasonably affect the price of our stock. The SEC emphasizes that materiality must be judged on a case-by-case basis. The following is a nonexclusive list of several types of information or events that may be considered material: ● financial results or forecasts for a given fiscal period, including (but not limited to): revenue, contribution profit, contribution margin, adjusted EBITDA, adjusted net income/loss, and home resales; ● important business developments like significant transactions and new (or changes to existing) partnerships; ● significant changes to major business lines or products (i.e., launching a new major product, or exiting or winding down a large market or product); ● new business partnerships or joint ventures; ● acquisitions or sales of companies, business units or other assets; ● high-level strategy regarding pricing changes or policies on an aggregate basis; ● pending public or private sales of debt or equity securities; ● possible tender offers; ● changes to senior management or directors or control of Opendoor; ● declaration of stock splits, dividends or changes in dividend policy and repurchase plans; ● major contract awards or cancellations or other contracts with vendors, or other developments regarding licensors, collaborators, customers or suppliers; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 67 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b138"], "char_count": 3478, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a139c6fedfa11f6460f48de1cf0aea483578db511f3cc4f321be901f757414bf", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 138, "char_end": 3478, "char_start": 0, "fragment_sha256": "3d727600ae69f0a96148b95243699301fc4bd293ec2b74c3bc77868c4fc70cd8", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p60", "passage_kind": "narrative", "passage_sequence": 60, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 ● significant write-offs and material impairments; ● significant litigation proceedings, filings or results; ● material cybersecurity incidents; ● regulatory and other government investigations, settlements or developments; or ● impending bankruptcy or receivership. 2.3 What is “Nonpublic” Information? Information is “nonpublic” if it has not been disclosed to the general public by means of a press release, SEC filing, or other medium of disclosure that is reasonably designed to provide broad, non-exclusionary distribution of the information to the public. Disclosure to even a large group of analysts is not, in and of itself, disclosure to the public. In addition, disclosure on Opendoor’s website is not, in and of itself, disclosure to the public. 2.4 Company Spokespersons and Disclosure Committee 2.4.1 Company Spokespersons. We have designated each of the following individuals as Opendoor’s authorized spokespersons for disclosure of all material nonpublic information (the “Spokespersons”): ● Our Chief Executive Officer ● Our Chief Financial Officer ● Our Chief Legal Officer ● Such other individuals to whom the foregoing may delegate such responsibility from time to time. All public disclosures of information and communications with analysts, investors, potential investors, stockholders, media, and other members of the public about Opendoor will be made by the designated Spokespersons. A Spokesperson may designate other officers or employees of Opendoor or outside investor relations or public relations representatives to respond to inquiries as they determine to be appropriate. 2.4.2 Disclosure Committee. We have created a corporate disclosure committee of the Company (the “Disclosure Committee”), which is comprised of the individuals designated in the Disclosure Committee Charter (as may be modified from time to time). The key responsibilities of the Disclosure Committee include overseeing production and review of (a) material information about Opendoor that will be disclosed either publicly or to government regulators when required, and (b) information that will be required to be disclosed on a timely basis by Opendoor in its SEC filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, definitive proxy materials, press releases and investor presentations containing financial information, earnings guidance, information about material acquisitions or dispositions or other information material to Opendoor’s security holders, and any other similar information and materials to ensure such information is accurate, fair, timely and complete. The Disclosure Committee, in consultation with our legal counsel, and, as applicable, with the Security Executives designated in the Company’s Cybersecurity Disclosure Policy and Proceduressuch other individuals at Opendoor as may be necessary or appropriate under the circumstances, will determine whether any information is material and whether and how it needs to be publicly disclosed. 2.5 How to Handle Outside Inquiries. Inquiries should be directed as follows: ● Inquiries from investors, securities analysts and industry analysts should be directed to our Investor Relations Team: investors@opendoor.com. ● Inquiries from members of the media should be directed to our Communications Team: press@opendoor.com. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 68 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b140"], "char_count": 3241, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "96f66d459cf176885674b16d8806e71cc11329a1c981fc22be86247386357d31", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 140, "char_end": 3241, "char_start": 0, "fragment_sha256": "34ddbfcf7c8d3ff641b50e3ae0d18fff2d2c83cb71685d61a0fdd6f64d536577", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p61", "passage_kind": "narrative", "passage_sequence": 61, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 If it is unclear where a request should be directed, please direct to our Investor Relations Team: investors@opendoor.com. The Investor Relations Team and Communication Teams will work to identify an appropriate Spokesperson to address the inquiry if required, or, if appropriate, work with the Disclosure Committee, to designate an appropriate person to respond with respect to specific areas of interest. 2.6 Process for Press Releases, Presentations, Conference Calls and Other Disclosures of Material Information. 2.6.1 Press Releases. We may issue press releases from time to time to disclose information we believe is important or useful to the public, whether or not the information is material. All press releases will be reviewed and approved by the Disclosure Committee and may also be subject to review by our Board of Directors or a committee thereof. The Disclosure Committee may designate one or more contacts for follow-up media inquiries on a press release. Unless specifically designated as a contact in a press release, no one other than a Spokesperson will be authorized to respond to inquiries regarding that press release. A Spokesperson will designate the appropriate person to implement the transmission of the press release through the appropriate communication channels. These duties may include: ● providing any required advance notice of the press release to any stock exchange on which Opendoor’s stock is listed; ● coordinating the transmission of the press release on the national wire service; and ● following confirmation of the transmission of the press release on the national wire service, o transmitting the press release to investment bankers, analysts, and others who may request to be included on an investor relations distribution list; and o contacting the representatives of the local media and others who may request to be included on an investor relations distribution list to inform them of the press release and, if desired, transmitting a copy to them. 2.6.2 Other Statements and Presentations. The Disclosure Committee is responsible for Opendoor’s commitment to completeness and accuracy, and follows a process to ensure our public statements will be the product of good-faith best efforts of all persons involved to present the information fully and fairly, together with all relevant and related material information. The Disclosure Committee will determine, in questionable cases, whether we file with or furnish to the SEC a Current Report on Form 8- K with the information to be disclosed to further the broad, non-exclusionary distribution of such information in accordance with Regulation FD. 2.6.3 Conference Calls. We may schedule conference calls from time to time to discuss information that may be material to the investing public and the securities industry. The procedures applicable to such conference calls are: ● Press Release. A reasonable time prior to the initiation of the call, we will disseminate a press release with a description of the material information to be discussed in the call and announcing the time, date, and dial-in information. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 69 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b142"], "char_count": 3409, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "af659441dd1dbe32ce94ac240206336062ab91e34b6ff640d1e5ffcca22b951e", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 142, "char_end": 3409, "char_start": 0, "fragment_sha256": "a1942c7d455702626691510bd64fd540b1f16bff1faf3a935cf4e360310ba368", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p62", "passage_kind": "narrative", "passage_sequence": 62, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 ● No Selective Additional Disclosure. We will not selectively disseminate any additional material nonpublic information after a conference call and will only disclose new material nonpublic information on a conference call if the conference call is held in compliance with Regulation FD (if applicable). See Section 2.7 below for more on Regulation FD requirements. ● Posted Transcript. A transcript or audio file of the conference call, including any other summaries of the conference call, may be posted on our website. 2.6.4 Contact with Financial Market Analysts and Investors. (a) No Contact During Quarterly Quiet Period. We will not discuss or otherwise comment on our financial or business performance, or our business prospects, with analysts, investors, potential investors, stockholders, media, and other members of the public during the period beginning at 11:59 p.m. Eastern Time on the 15th calendar day of the third month of each fiscal quarter and ending when the market opens on the third trading after Opendoor publicly releases its earnings for such quarter (e.g., two full trading days must elapse before the trading window opens), except with respect to our historical financial or business performance or other publicly available information. (b) Communications Only By Designated Spokespersons. Only the Spokespersons or persons designated by them pursuant to this policy may engage in “one-on-one” or similar “limited access” communications with financial market analysts and investors. In no event will any material nonpublic information be disclosed (including by way of updating) in such communications. (c) Limitations on Financial Guidance/Forecasts. To promote compliance with Regulation FD, it is our policy not to provide guidance, whether direct or indirect, to financial market analysts and investors with respect to earnings or other material nonpublic forward-looking information, except (i) as part of our regular, quarterly press releases and conference calls, or (ii) in any other Regulation FD-compliant manner that has been approved by the Disclosure Committee. The Spokesperson will not confirm any previous financial guidance or forecasts under facts and circumstances that make the confirmation itself material, unless such information, update, or confirmation is contemporaneously made available to the public in a manner consistent with this policy. Spokespersons should exercise particular caution in interacting with financial market analysts and investors. 2.6.5 Public Speaking Engagements in All Forms (Conferences, Interviews, Presentation Decks, and Other Audiovisual Presentations). Public speaking engagements where you will discuss Opendoor, or you are identified as an Opendoor employee or contractor, require pre-approval by Opendoor. The following procedures apply to each such engagement or presentation: ● Pre-Clearance with Communications Team. The Communications Team must approve in advance all external Opendoor employee speaking engagements. Please submit approval requests by completing this Speaking Request Form. Do not accept a speaking engagement until you have received approval from the Communications Team to do so. The presentation should not include material nonpublic information about Opendoor, unless the Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 70 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b144"], "char_count": 3529, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "555238ec5da6840afa6dbee5aea9920cc2bb699c5ffca6981148ec066e086425", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 144, "char_end": 3529, "char_start": 0, "fragment_sha256": "cd56be7fa5940da503623cb8703a8f26106c408b89a8965d1d418be74121f617", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p63", "passage_kind": "narrative", "passage_sequence": 63, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 presentation complies with Regulation FD and the confidentiality requirements of our Code of Business Conduct and Ethics. See Section 2.7 below for more on Regulation FD requirements. 2.6.6 Written Public Communications About Opendoor (Blog Posts, News or Scientific Articles, Books). Writing about Opendoor publicly in blog posts, news or scientific articles, books or other written materials also requires pre-approval by Opendoor. The following procedures apply to each such materials: ● Pre-Clearance with Communications Team. The Communications Team must approve in advance all blog posts, news or scientific articles, books or other public written communications about Opendoor. Please submit approval requests to press@opendoor.com Note: Opendoor internally-developed marketing materials can skip this step. The written materials should not include material nonpublic information about Opendoor, unless the presentation complies with Regulation FD and the confidentiality requirements of our Code of Business Conduct and Ethics. See Section 2.7 below for more on Regulation FD requirements. Sharing information that Opendoor has developed and released publicly (i.e., forwarding or reposting blog posts, LinkedIn articles, or press releases) does not require any approvals. 2.6.7 Updates to, or Reiterating, Prior Statements. Updating or merely reiterating a previous Opendoor statement is equivalent to making a new statement. Accordingly, we will not confirm or update material information about us that has been previously disclosed to the public (e.g., repeating financial guidance that was given in the past), except in a manner consistent with the procedures for a new disclosure contained in this policy. 2.6.8 Rumors, Transaction Discussions or Unusual Market Activity. Our general policy is that all persons subject to this policy will not comment on unusual market activity or market rumors and will not disclose Opendoor’s involvement in discussions regarding potential transactions. It is critical that we adhere to our “no comment” policy consistently. If we deny rumors that are not correct, for example, we may not be able to effectively avoid commenting in response to an inquiry regarding a rumor that is true or partially true. 2.6.9 Selective Disclosures of Material Nonpublic Information. If you believe that you may have disclosed material nonpublic information to anyone not in compliance with this policy, you must immediately notify a Spokesperson (or, if you are a Spokesperson, notify another Spokesperson) of the information disclosed, the persons to whom the information was disclosed, and any other pertinent information regarding the disclosure. After notification, the Spokesperson will then determine, after consultation with the Chief Legal Officer, whether the information is material and whether to disclose the information in the manner prescribed in this policy. The use of social networks, including corporate blogs, chat boards, Facebook, Twitter and the like, to disclose material, nonpublic information is considered selective disclosure and would violate these Guidelines. 2.7 Regulation FD 2.7.1 Overview. Regulation FD applies to disclosures of material nonpublic information by or on behalf of publicly traded companies to the following categories of persons (each an “Outside Person”): ● broker-dealers and their associated persons, such as analysts; Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 71 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b146"], "char_count": 3178, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4473d0ac3652051d369648c11ee8e6f144f6122b4f7bce12129ceccfc7a1b671", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 146, "char_end": 3178, "char_start": 0, "fragment_sha256": "aa86dd58458f93956346cb5d81f0afaa6bc725b8ffe261035db8d81b1693d48c", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p64", "passage_kind": "narrative", "passage_sequence": 64, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "6 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 ● investment advisers, institutional investment managers, and each of their associated persons; ● investment companies, hedge funds, and each of their affiliated persons; and ● any holder of the company’s securities if it is reasonably foreseeable that the holder will purchase or sell the company’s securities on the basis of the information. 2.7.2 Communications Exempted from Regulation FD. The following types of communications are specifically exempted from the disclosure requirements of Regulation FD: ● Attorneys and Accountants. Communications made to a person who owes the company a duty of trust or confidence, such as attorneys or accountants; ● Parties under NDA. Communications made to a person under a non-disclosure agreement (“NDA”) or contract where they have expressly agreed to maintain the information in confidence; and ● Some Registered Securities Offerings. Communications made in connection with registered securities offerings, other than offerings expressly excluded under Regulation FD. 2.7.3 Requirements for a Publicly Traded Company to Disclose Material Nonpublic Information. Regulation FD requires that whenever a publicly traded company or a person acting on its behalf discloses material nonpublic information to an Outside Person and none of the exceptions of Section 2.7.2 apply, the company must make a public disclosure of that same information as follows: ● Intentional Disclosure. If the company or any person acting on its behalf intentionally discloses material nonpublic information, the company must make public disclosure of such information simultaneously; or ● Unintentional Disclosure. If the company or any person acting on its behalf unintentionally discloses material nonpublic information, the company must make a public disclosure of such information as soon as reasonably practicable (but in no event after the later of 24 hours or the commencement of the next day’s trading on the Nasdaq Stock Exchange) after discovery of the disclosure. Discovery happens when a Opendoor officer, director, executive officer, or investor relations or communications officer learns that Opendoor or any person acting on the company’s behalf disclosed information that such director, executive officer, or investor relations or communications officer knows, or is reckless in not knowing, is both material and nonpublic. A “person acting on the company’s behalf” is any employee or agent of the company who regularly communicates with market professionals or our stockholders, or a senior official. A senior official is defined as any director, executive officer, investor relations, or communications officer, or other person who performs a similar function. 3. CONSEQUENCES FOR NOT COMPLYING WITH THIS POLICY Any person subject to this policy who communicates about our business with analysts, investors, potential investors, stockholders, media, or other members of the public without the prior consent of a Spokesperson or another authorized officer, or who otherwise discloses our information in violation of Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 72 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b148", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b150"], "char_count": 2108, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "98a2589e9260cfd552d091fde25220b620a5a96a90a6b456630f164d6bdbcbac", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 148, "char_end": 830, "char_start": 0, "fragment_sha256": "705ea34ef9f978678f415e3d8e42a82ad136ccb1ebf4e93572276682ec2e5487", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 150, "char_end": 1276, "char_start": 0, "fragment_sha256": "db3e9289139258208ff5e5c6e1a8abe838125746a51b9e8a30e97617f41be4a2", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p65", "passage_kind": "narrative", "passage_sequence": 65, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "7 Exhibit A-6 to Settlement Term Sheet Dated April 25, 2025 this policy, will be subject to disciplinary action, which may include termination. These communications could also violate our Insider Trading and Trading Window Policy. 4. CHANGES TOREVIEW OF THIS POLICY The Disclosure Committee shall periodically review this policy. Recommendations for Changes changes to this policy require approval by Opendoor’s board of directors or a duly appointed committee of Opendoor’s board of directors. 5. QUESTIONS If you have any further questions about any aspect of this policy, please contact the Legal Team. (As adopted by the Board of Directors on December 18, 2020, and amended by the Board of Directors on December 7, 2021, December 21, 2023, and August 22, 2024) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 73 of 95\n\n1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MCKAY LAW, LLC Michael C. McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT B-1 NOTICE TO CURRENT OPENDOOR STOCKHOLDERS OF PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF DERIVATIVE ACTIONS TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF THE OPENDOOR TECHNOLOGIES INC. COMMON STOCK (TICKER SYMBOL: OPEN) AS OF JUNE 27, 2025. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE RELATES TO A PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 74 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b152"], "char_count": 2289, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "60961160fe5e79cdf224a8d6cd0d26b5c9469946d25ba06345ec0f29dcca6b6c", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 152, "char_end": 2289, "char_start": 0, "fragment_sha256": "d8ceb5ce0a65a29bea17da96ed120bc18ac52d8f4a26f4b94a7804c50a294d4e", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p66", "passage_kind": "narrative", "passage_sequence": 66, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 OF STOCKHOLDER DERIVATIVE LITIGATION AND CONTAINS IMPORTANT INFORMATION REGARDING YOUR RIGHTS. IF THE COURT APPROVES THE SETTLEMENT OF THE DERIVATIVE ACTIONS, OPENDOOR TECHNOLOGIES INC. (“OPENDOOR” OR THE “COMPANY”) STOCKHOLDERS WILL BE FOREVER BARRED FROM CONTESTING THE APPROVAL OF THE PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE, AND FROM PURSUING RELEASED CLAIMS. THIS ACTION IS NOT A “CLASS ACTION.” THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT. THE RECITATION OF THE BACKGROUND AND CIRCUMSTANCES OF THE SETTLEMENT CONTAINED HEREIN DOES NOT CONSTITUTE THE FINDINGS OF THE COURT. IT IS BASED ON REPRESENTATIONS MADE TO THE COURT BY COUNSEL FOR THE SETTLING PARTIES. IF YOU HOLD OPENDOOR COMMON STOCK FOR THE BENEFIT OF ANOTHER, PLEASE PROMPTLY TRANSMIT THIS DOCUMENT TO SUCH BENEFICIAL OWNER. PLEASE TAKE NOTICE that this action is being settled on the terms set forth in a Stipulation of Settlement, dated June 27, 2025 (the “Stipulation”). The purpose of this Notice is to inform you of: • the existence of the above-captioned derivative action captioned Gera v. Palihapitiya et al., No. 2:23-cv-02164-MTL (the “Gera Action”), pending in the United States District Court for the District of Arizona (the “Court”); • the existence of derivative actions pending in the Court of Chancery of the State of Delaware and the United States District Court for the District of Delaware captioned: In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642- PAF (Del. Ch.) (the “Delaware Chancery Action”), Juul v. Wu et al., No. 1:23-cv-00705- MN (D. Del.) (the “Juul Action”), and Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN (D. Del.) (the “Woods Action”), respectively (collectively, with the Gera Action, the “Derivative Actions”); • the proposed settlement between Plaintiffs1 and Defendants reached in the Derivative Actions (the “Settlement”); 1 All capitalized terms used in this notice, unless otherwise defined herein, are defined as set forth in the Stipulation. The Settlement also resolves all matters raised in litigation demands made to Opendoor’s board of directors. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 75 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b154"], "char_count": 2895, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "910737c7e318d7560c1e15491d869796057cc19162e8929c620407e14cfe53a4", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 154, "char_end": 2895, "char_start": 0, "fragment_sha256": "0e77b2825a9be27bdb5942fae104d3b8c71069c44499c61f325b72bd137239bb", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p67", "passage_kind": "narrative", "passage_sequence": 67, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 • the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement and dismissal of the Gera Action and Released Claims with prejudice; • The amount of fees and expenses to be paid to Plaintiffs’ Counsel by Defendants’ insurers; and • Plaintiffs’ and Ingrao’s monetary service awards. This Notice describes what steps you may take in relation to the Settlement. This Notice is not an expression of any opinion by the Court about the truth or merits of Plaintiffs’ claims or Defendants’ defenses. This Notice is solely to advise you of the proposed Settlement of the Derivative Actions and of your rights in connection with the proposed Settlement. Summary On June 27, 2025, Opendoor, in its capacity as a nominal defendant, entered into the Stipulation to resolve the Derivative Actions. The Derivative Actions were filed on behalf of Opendoor in this Court, the Delaware Court of Chancery, and the U.S. District Court for the District of Delaware against certain current and former directors and officers of the Company, SCH Sponsor II LLC (“Sponsor”), and against the Company as a nominal defendant. The Stipulation and the settlement contemplated therein (the “Settlement”), subject to the approval of the Court, are intended by the Settling Parties to fully, finally, and forever compromise, resolve, discharge, dismiss, and settle the Released Claims and to result in the complete dismissal of the Derivative Actions with prejudice, upon the terms and subject to the conditions set forth in the Stipulation. The proposed Settlement requires the Company to adopt certain corporate governance reforms and procedures, as outlined in Exhibit A to the Stipulation. In light of the substantial benefits conferred upon Opendoor by Plaintiffs’ Counsel’s efforts, the Company and Plaintiffs’ Counsel have participated in negotiations regarding the attorneys’ fee and expenses to be paid by Defendants’ insurers to Plaintiffs’ Counsel, and have agreed that Defendants’ insurers shall pay to Plaintiffs’ Counsel $1.95 million in attorneys’ fees and expenses, subject to Court approval. Plaintiffs’ Counsel shall also apply to the Court for service awards to be paid to each of the Plaintiffs and Ingrao in the amount of two thousand five hundred dollars ($2,500.00) each (the “Service Awards”), to be paid out of any attorneys’ fees and expense award. This Notice does not describe all of the details of the Stipulation. For full details of the matters discussed herein, please see the full Stipulation and its exhibits posted on the Company’s website, www.__________, contact Plaintiff Gera’s counsel at the address listed below, or inspect the full Stipulation and its exhibits filed with the Clerk of the Court. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 76 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b156"], "char_count": 3251, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "335aac2478b827b0e78be84d0b83d612568775262d084cd33c794cc77ad839d0", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 156, "char_end": 3251, "char_start": 0, "fragment_sha256": "a3a885c83b4e6dbb7e27cb0e1564e2837f5ab58f57e874ba9745039b4d092421", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p68", "passage_kind": "narrative", "passage_sequence": 68, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 What are the Lawsuits About? The Derivative Actions are respectively brought on behalf of nominal defendant Opendoor and allege, among other things, that the Individual Defendants breached their fiduciary duties to the Company by inter alia: allegedly issuing and/or causing the Company to issue materially false or misleading statements leading up to and after a business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. Plaintiffs allege that the Individual Defendants did not disclose certain material information relating to Opendoor’s algorithms and financial prospects, the value of the Opendoor’s legacy business, and certain alleged conflicts of interest. Certain of the Derivative Actions, including the Gera Action, also allege that the Individual Defendants and Sponsor are liable to the Company under the Securities Exchange Act of 1934, including pursuant to Section 10(b) and 14(a) of the Securities Exchange Act of 1934, by allegedly making and/or causing the Company to make misrepresentations in the Company’s proxy statement filed on DEFM14A with the United States Securities and Exchange Commission (the “SEC”) on November 30, 2020, in other filings with the SEC, and in other public statements regarding the foregoing. Why is there a Settlement of the Derivative Actions? No court has decided in favor of Plaintiffs or Defendants in the Derivative Actions. Instead, the Settling Parties have agreed to the Settlement to avoid the distraction, costs, and risks of further litigation, and because the Company has determined that the corporate governance reforms and procedures that the Company will adopt as part of the Settlement provide substantial benefits to Opendoor and its stockholders. Defendants have denied and continue to deny each and every claim and contention alleged by the Plaintiffs in the Derivative Actions and any allegation of wrongdoing or liability arising out of, based on, or relating in any way to the events, conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Derivative Actions. Nonetheless, Defendants have entered into the Stipulation, without admitting or conceding any merit, fault, liability, wrongdoing, or damage whatsoever, because they have concluded that it is desirable for the Derivative Actions to be fully and finally settled in this matter upon the terms and conditions set forth in the Stipulation. The Settlement Hearing, and Your Right to Object to the Settlement On _________ __, 2025, the Court entered an order preliminarily approving the Stipulation and the Settlement contemplated therein (the “Preliminary Approval Order”) and providing for notice of the Settlement to be made to Current Opendoor Stockholders. The Preliminary Approval Order further provides that the Court will hold a hearing (the “Settlement Hearing”) on ________ __, 2025 at __:__ _.m. before the Honorable Michael T. Liburdi, United States District Court for the District of Arizona, Sandra Day O’Connor U.S. Courthouse, 401 W. Washington Street, Suite 524, Phoenix, AZ 85003 to, among other Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 77 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b158"], "char_count": 3479, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e9bc3615720fc2c3cc7e69cadd8ac0320fc1d1de4a936db1626f0740c28ca7ce", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 158, "char_end": 3479, "char_start": 0, "fragment_sha256": "55268a354c24497076c950b95c3df3641f274bb75578676a3d2d79f6d91f9c78", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p69", "passage_kind": "narrative", "passage_sequence": 69, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 things: (i) determine whether the proposed Settlement is fair, reasonable and adequate and in the best interests of the Company and its stockholders; (ii) consider any objections to the Settlement submitted in accordance with this Notice; (iii) determine whether a judgment should be entered dismissing all claims in the Gera Action with prejudice, and releasing the Released Claims against the Released Persons; (iv) determine whether the Court should approve the Fee and Expense Amount agreed upon by the Settling Parties; (v) determine whether the Court should approve the Service Awards, to be paid out of any attorneys’ fees and expense award; and (vi) consider any other matters that may properly be brought before the Court in connection with the Settlement. The Court may, in its discretion, change the date and/or time of the Settlement Hearing without further notice to you. The Court also has reserved the right to hold the Settlement Hearing telephonically or by videoconference without further notice to you. If you intend to attend the Settlement Hearing, please consult the Court’s calendar and/or the website of Opendoor, www. _____, for any change in date, time or format of the Settlement Hearing. Any Current Opendoor Stockholder who wishes to object to the fairness, reasonableness, or adequacy of the Settlement as set forth in the Stipulation, or to the attorneys’ fees and expense request by Plaintiffs’ Counsel, may file with the Court a written objection. An objector must at least twenty-one (21) calendar days prior to the Settlement Hearing: (1) file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel a written objection to the Settlement setting forth (a) the nature of the objection; (b) proof of ownership of Opendoor common stock as of June 27, 2025 and through the date of the filing of any such objection, including the number of shares of Opendoor common stock held and the date of purchase or acquisition; (c) any and all documentation or evidence in support of such objection; (d) the identities of any cases, by name, court, and docket number, in which the stockholder or his, her, or its attorney has objected to a settlement in the last three years; and (2) if intending to appear and requesting to be heard at the Settlement Hearing, he, she, or it must, in addition to the requirements of (1) above, file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel (a) a written notice of his, her, or its intention to appear at the Settlement Hearing, (b) a statement that indicates the basis for such appearance, (c) the identities of any witnesses he, she, or it intends to call at the Settlement Hearing and a statement as to the subjects of their testimony, and (d) any and all evidence that would be presented at the Settlement Hearing. Any objector who does not timely file and serve a notice of intention to appear in accordance with this paragraph shall be foreclosed from raising any objection to the Settlement and shall not be permitted to appear at the Settlement Hearing, except for good cause shown. IF YOU MAKE A WRITTEN OBJECTION, IT MUST BE ON FILE WITH THE CLERK OF THE COURT NO LATER THAN ________ __, 2025. The Clerk’s address is: Clerk of the Court Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 78 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b160"], "char_count": 2027, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "44d531931d2655e0ae35f8b4bf2585b8519d92cce0278d6c5b950cc0de119017", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 160, "char_end": 2027, "char_start": 0, "fragment_sha256": "c0cbcf29a0c9a6c25ab8ef493b821a52968147a5f0b4330fee051d69288e6959", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p70", "passage_kind": "narrative", "passage_sequence": 70, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 U.S. DISTRICT COURT, DISTRICT OF ARIZONA 401 W. Washington St., Suite 130, SPC 1 Phoenix, AZ 85003 YOU ALSO MUST DELIVER COPIES OF THE MATERIALS TO PLAINTIFFS’ COUNSEL AND DEFENDANTS’ COUNSEL SO THEY ARE RECEIVED NO LATER THAN ________ __, 2025. Counsel’s addresses are: Counsel for Plaintiff Gera: Timothy Brown THE BROWN LAW FIRM, P.C. 767 Third Avenue, Suite 2501 New York, NY 10017 Counsel for Defendants: Lyle Roberts ALLEN OVERY SHEARMAN STERLING US LLP 1101 New York Avenue, N.W. Washington, DC 20005 An objector may file an objection on his, her, or its own or through an attorney hired at his, her, or its own expense. If an objector hires an attorney to represent him, her, or it for the purposes of making such objection, the attorney must serve (either by hand delivery or by first class mail) a notice of appearance on the counsel listed above and file such notice with the Court no later than twenty-one (21) calendar days before the Settlement Hearing. Any Current Opendoor Stockholder who does not timely file and serve a written objection complying with the above terms shall be deemed to have waived, and shall be foreclosed from raising, any objection to the Settlement, and any untimely objection shall be barred. Any objector who files and serves a timely, written objection in accordance with the instructions above, may appear at the Settlement Hearing either in person or through counsel retained at the objector’s expense. Objectors need not attend the Settlement Hearing, however, in order to have their objections considered by the Court. If you are a Current Opendoor Stockholder and do not take steps to appear in this action and object to the proposed Settlement, you will be bound by the Judgment of the Court and will forever be barred from raising an objection to the settlement of the Derivative Actions, and from pursuing any of the Released Claims. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 79 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b162", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b164"], "char_count": 2568, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ef228f75a93fd0ee56ae2b342242e29e02f7261d55632762c29b8dfa7c6951eb", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 162, "char_end": 1433, "char_start": 0, "fragment_sha256": "650238ea41f5e97bd463a6d504ac7c39fb4f2e1d5936f327372c59ca6db9e19f", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 164, "char_end": 1133, "char_start": 0, "fragment_sha256": "93c2d05b24a8f1b45c15a4956bc3dc7242c5aa71031ecbc4e9cad7aaa5463013", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p71", "passage_kind": "narrative", "passage_sequence": 71, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 CURRENT OPENDOOR STOCKHOLDERS AS OF JUNE 27, 2025 WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION. Interim Stay and Injunction Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the Settlement itself. Scope of the Notice This Notice provides an overview of the Derivative Actions, the complaints, the terms of the Settlement, and the Settlement Hearing. For a more detailed statement of the matters involved in the Derivative Actions, reference is made to the Stipulation and its exhibits, copies of which may be reviewed and downloaded at the website of Opendoor, www. _____. * * * You may obtain further information by contacting Plaintiff’s Counsel at: Timothy Brown, The Brown Law Firm, P.C., 767 Third Avenue, Suite 2501, New York, NY, 10017, Telephone: (516) 922-5427, E-mail: tbrown@thebrownlawfirm.net. PLEASE DO NOT CALL, WRITE, OR OTHERWISE DIRECT QUESTIONS TO EITHER THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 80 of 95\n\n1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MCKAY LAW, LLC Michael C. McKay (023354) 5635 N. Scottsdale Road, Ste. 170 Scottsdale, AZ 85250 Telephone: (480) 681-7000 mmckay@mckaylaw.us Counsel for Plaintiff Samita Gera [Additional counsel on signature page] UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT B-2 SUMMARY NOTICE TO CURRENT OPENDOOR STOCKHOLDERS OF PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF DERIVATIVE ACTIONS TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF THE OPENDOOR TECHNOLOGIES INC. COMMON STOCK AS OF JUNE 27, 2025. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 81 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b166"], "char_count": 3060, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f76448936967cfc0e87293d38b9021a7c28d690f387e32282e5aac7a982d7bfc", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 166, "char_end": 3060, "char_start": 0, "fragment_sha256": "da8f86d12743edda9205f1d002bea23d795441981f5208f11d73a5947a09cf34", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p72", "passage_kind": "narrative", "passage_sequence": 72, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 THIS ACTION IS NOT A “CLASS ACTION.” THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT. You are hereby notified that pursuant to an Order of the United States District Court for the District of Arizona (the “Court”), that the parties have reached an agreement to settle all claims in the above-captioned action Gera v. Palihapitiya et al., No. 2:23-cv-02164- MTL (the “Gera Action”) and the following derivative lawsuits: In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642-PAF in the Court of Chancery of the State of Delaware; Juul v. Wu et al., No. 1:23-cv-00705-MN, in the U.S. District Court for the District of Delaware; and Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN in the U.S. District Court for the District of Delaware (collectively, the “Derivative Actions”). The Settlement also resolves all matters raised in litigation demands made to Opendoor Technologies Inc’s (“Opendoor” or the “Company”) board of directors. Pursuant to an Order of the Court, a hearing (“Settlement Hearing”) will be held on [____], at [____], before the Honorable Michael T. Liburdi at the Court at Sandra Day O’Connor U.S. Courthouse, 401 W. Washington Street, Phoenix, AZ 85003 to consider whether judgment should be entered: (1) approving the terms of the Settlement as fair, reasonable, adequate, and in the best interests of Opendoor and its stockholders; (ii) dismissing with prejudice the Released Claims pursuant to the terms of the Stipulation; and (iii) ruling upon the award of Plaintiffs’ Counsel’s attorneys’ fees and expenses. The Court may, in its discretion, change the date and/or time of the Settlement Hearing without further notice to you. The Court also has reserved the right to hold the Settlement Hearing telephonically or by videoconference without further notice to you. If you intend to attend the Settlement Hearing, please consult the Court’s calendar and/or the website of Opendoor, www. _____, for any change in date, time or format of the Settlement Hearing. If you are a holder of Opendoor common stock, your rights may be affected by these lawsuits and the settlement thereof. The Stipulation of Settlement and exhibits thereto and full Notice of the Settlement may be viewed at www._____. This is just a summary notice of the Settlement. The full Notice of the Settlement contains details about the Gera Action, the Derivative Actions, and Settlement, including what you must do if you choose to object to the Settlement and/or present your objection at the Settlement Hearing. Any objections must be filed with the Court by ________ __, 2025. CURRENT OPENDOOR STOCKHOLDERS AS OF JUNE 27, 2025 WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION. If you have questions about this Settlement, you may contact Plaintiff Samhita Gera’s counsel at the following address: Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 82 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b168", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b170"], "char_count": 1662, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "143aea0075a9559d420328e1c53fd974caef9998a50844ccf705ebba8e9c9738", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 168, "char_end": 449, "char_start": 0, "fragment_sha256": "da4e2c0f7e3b90b572174a19e4978847a257f91ac577e67aa820d6fac1b3bffa", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 170, "char_end": 1211, "char_start": 0, "fragment_sha256": "659be00939ab7600f08b40c3c06ad665a948f67e66f734c9ff5871bd1241451e", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p73", "passage_kind": "narrative", "passage_sequence": 73, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Timothy Brown THE BROWN LAW FIRM, P.C. 767 Third Avenue, Suite 2501 New York, NY 10017 Tel. 516.922.5427 tbrown@thebrownlawfirm.net PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the settlement, you may contact Plaintiff’s counsel listed above. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 83 of 95\n\n1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT C [PROPOSED] ORDER PRELIMINARILY APPROVING DERIVATIVE SETTLEMENT AND PROVIDING FOR NOTICE WHEREAS, Plaintiff Samhita Gera in the above-captioned shareholder derivative action (the “Gera Action”) has made an application, pursuant to Federal Rule of Civil Procedure 23.1, for an order: (i) preliminarily approving the Stipulation of Settlement dated June 27, 2025 (the “Stipulation”), which, together with the exhibits annexed thereto, sets forth the terms and conditions for the proposed settlement and dismissals of the Derivative Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 84 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b172"], "char_count": 2390, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c307b3b4e24940c876db195bf21f33bfd1cb9e6d39122933ec74d23ca73974e1", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 172, "char_end": 2390, "char_start": 0, "fragment_sha256": "94472b7a07d79651598093fb52058d0833e48fda2295100e5000493ec1d3bd5d", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p74", "passage_kind": "narrative", "passage_sequence": 74, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Actions with prejudice; (ii) approving the form and content of the notice of the Settlement to Current Opendoor Stockholders; and (iii) setting a date for the Settlement Hearing; WHEREAS, all capitalized terms contained herein shall have the same meanings as set forth in the Stipulation (unless otherwise defined herein); and WHEREAS, the Court has read and considered the Stipulation and the exhibits annexed thereto and considered arguments by counsel in favor of preliminary approval of the Settlement, and all Settling Parties have consented to the entry of this Order, NOW THEREFORE, IT IS HEREBY ORDERED: 1. The Court does hereby preliminarily approve, subject to further consideration at the Settlement Hearing, the Stipulation and the settlement set forth therein (the “Settlement”), including the terms and conditions for settlement and dismissals with prejudice of the Derivative Actions. 2. The Settlement Hearing shall be held before the Court on _____________________ ____, 2025 at ______ __.m., at the United States District Court for the District of Arizona, Sandra Day O’Connor U.S. Courthouse, 401 W. Washington Street, Suite 524, Phoenix, AZ 85003, to determine: (i) whether the terms and conditions of the Settlement set forth in the Stipulation are fair, reasonable, and adequate to Opendoor and Current Opendoor Stockholders and should be finally approved by the Court; (ii) whether the Judgment finally approving the Settlement, substantially in the form of Exhibit D attached to the Stipulation, should be entered, dismissing the Gera Action with prejudice, and releasing and enjoining the prosecution of any and all Released Claims; and (iii) whether to award any Fee and Expense Amount to Plaintiffs’ Counsel and Service Awards to each of the Plaintiffs. At the Settlement Hearing, the Court may hear or consider such other matters as the Court may deem necessary and appropriate. 3. The Court approves, as to form and content, the Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Actions (“Notice”) attached as Exhibit B-1 to the Stipulation and the Summary Notice to Current Opendoor Stockholders of Proposed Settlement and Dismissal with Prejudice of Derivative Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 85 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b174"], "char_count": 2334, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1516140c0b86103f945133b178c610d81d743ef6d2ba15ad24d1b4e2a710114e", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 174, "char_end": 2334, "char_start": 0, "fragment_sha256": "e70a801c58dc3988a8aa867aa40dca8dfe27f909788d3568e28af9c82fe666d5", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p75", "passage_kind": "narrative", "passage_sequence": 75, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Actions (“Summary Notice”) attached as Exhibit B-2 to the Stipulation, and finds that publishing the Summary Notice of the Settlement one time in the Investor’s Business Daily, posting a copy of the Notice and the Stipulation, with its exhibits, on the investor relations page of Opendoor’s website through the date of the Settlement Hearing, and filing the Notice and Stipulation, with its exhibits, with the U.S. Securities and Exchange Commission (“SEC”) as exhibits to a Form 8-K, substantially in the manner and form set forth in this Order meets the requirements of Federal Rule of Civil Procedure 23.1 and due process, is the best notice of the Settlement practicable under the circumstances, and shall constitute due and sufficient notice to Current Opendoor Stockholders and any other persons entitled thereto. 4. Not later than twenty-one (21) days following entry of this Order, Opendoor shall cause: (a) the Summary Notice to be published one time in the Investor’s Business Daily, (b) the Notice to be filed in a Form 8-K with the SEC together with the Stipulation (including exhibits thereto), and (c) the Notice together with the Stipulation (including exhibits thereto) to be posted on the investor relations page of Opendoor’s website through the date of the Settlement Hearing. The Notice and Summary Notice shall each contain a link to the investor relations page of Opendoor’s website at which the Notice together with the Stipulation (including exhibits thereto) are posted. 5. Opendoor shall undertake the administrative responsibility, and shall be solely responsible, for paying the costs and expenses related to, and giving notice of, the Settlement to Current Opendoor Stockholders in the manner set forth in paragraph 4 herein. 6. No later than thirty (30) days following entry of this Order, Defendants’ Counsel shall file with the Court, proof, by appropriate affidavit or declaration, of the publication, filing, and posting of the notice of the Settlement pursuant to the terms of this Order. 7. All papers in support of the Settlement, any Fee and Expense Amount and the Service Awards, shall be filed with the Court and served at least twenty-eight (28) days Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 86 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b176"], "char_count": 2530, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "19c1e26b681deada4e028ac76720362ee8b98a079d5a2fa0bd52dd59a6f6f847", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 176, "char_end": 2530, "char_start": 0, "fragment_sha256": "d17571bfa31bcc5923b25d03fdffdc4e42e9b5a38f85b09dfe9470c9857b9403", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p76", "passage_kind": "narrative", "passage_sequence": 76, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 prior to the Settlement Hearing, and any reply papers shall be filed with the Court at least seven (7) days prior to the Settlement Hearing. 8. Any Current Opendoor Stockholder may object and/or appear and show cause, if he, she, or it has any concern, why the Settlement should not be finally approved as fair, reasonable, and adequate, why the Judgment should not be entered thereon, or why the Fee and Expense Amount and the Service Awards, should not be finally approved; provided, however, unless otherwise ordered by the Court, that no Current Opendoor Stockholder shall be heard or entitled to contest the approval of the terms and conditions of the Settlement, or, if approved, the Judgment to be entered thereon approving the same, or the Fee and Expense Amount and the Service Awards, unless that stockholder has, at least twenty-one (21) days prior to the Settlement Hearing: (1) filed with the Clerk of the Court a written objection to the Settlement setting forth: (a) the nature of the objection; (b) proof of ownership of Opendoor common stock as of the date of the Stipulation of Settlement and through the date of the filing of any such objection, including the number of shares of Opendoor common stock held and the date of purchase or acquisition; (c) any and all documentation or evidence in support of such objection; and (d) the identities of any cases, by name, court, and docket number, in which the stockholder or his, her, or its attorney has objected to a settlement in the last three years; and (2) if a Current Opendoor Stockholder intends to appear and requests to be heard at the Settlement Hearing, such stockholder must have, in addition to the requirements of (1) above, filed with the Clerk of the Court: (a) a written notice of such stockholder’s intention to appear at the Settlement Hearing; (b) a statement that indicates the basis for such appearance; (c) the identities of any witnesses the shareholder intends to call at the Settlement Hearing and a statement as to the subjects of their testimony; and (d) any and all evidence that would be presented at the Settlement Hearing. If a Current Opendoor Stockholder files a written objection and/or written notice of intent to appear, such shareholder must also simultaneously serve copies of such notice, proof, statement, and documentation, together with copies of any other papers or briefs such Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 87 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b178"], "char_count": 2147, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0980f67f7ba0f1f7bcbde65d27c2d75574620b86e3cbe417b86dd3c9c8b20535", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 178, "char_end": 2147, "char_start": 0, "fragment_sha256": "e93dcf29a10e5a0e8de8d640ba8d33e470faaef2461a117aa95cf8ce45a7c6e7", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p77", "passage_kind": "narrative", "passage_sequence": 77, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 shareholder files with the Court (either by hand delivery or by first class mail) upon each of the following: Counsel for Plaintiff Gera: THE BROWN LAW FIRM, P.C. Timothy Brown 767 Third Avenue, Suite 2501 New York, NY 10017 Telephone: (516) 922-5427 Facsimile: (516) 344-6204 E-mail: tbrown@thebrownlawfirm.net Counsel for Defendants: ALLEN OVERY SHEARMAN STERLING US LLP Lyle Roberts 1101 New York Avenue, N.W. Washington, DC 20005 Telephone: 202-508-8000 Email: lyle.roberts@aoshearman.com Any Current Opendoor Stockholder who does not make his, her, or its objection in the manner provided herein shall be deemed to have waived such objection and shall forever be foreclosed from making any objection to the fairness, reasonableness, or adequacy of the Settlement or any Fee and Expense Amount and the Service Awards to Plaintiffs, as set forth in the Stipulation, unless otherwise ordered by the Court, but shall be forever bound by the Judgment to be entered, the dismissal of the Gera Action with prejudice, and any and all of the releases set forth in the Stipulation. 9. All Current Opendoor Stockholders shall be bound by all orders, determinations, and judgments in the Gera Action concerning the Settlement, whether favorable or unfavorable to Current Opendoor Stockholders. 10. Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the Settlement itself. 11. Neither the Settlement, the Stipulation (including any exhibits attached hereto) nor any act performed or document executed pursuant to or in furtherance of the Stipulation or Settlement: (a) is or may be deemed to be or may be offered, attempted to be offered, or used in any way as a presumption, a concession, admission, or evidence of the Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 88 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b180"], "char_count": 2295, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ddee9686a7645fc1c687b8e0f5da6447217863010870156ab4ab533ee1d9528f", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 180, "char_end": 2295, "char_start": 0, "fragment_sha256": "31ee27ae6266aa579ef1c763589ef7bc471f6d77cc9cdc659951be5942e1c50e", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p78", "passage_kind": "narrative", "passage_sequence": 78, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 validity or infirmity of any Released Claims, or of any fault, wrongdoing or liability of the Released Persons or Opendoor; (b) is, may be deemed to be, or may be used as a presumption, concession, admission or evidence of any liability, fault, or omission of any of the Released Persons or Opendoor in any civil, criminal, or administrative, or other proceeding in any court, administrative agency, tribunal, or other forum; or (c) is or may be deemed an admission by any Settling Party as to the merits or lack thereof of any claim, allegation, or defense. 12. Neither the Stipulation nor the Settlement, nor any act performed or document executed pursuant to or in furtherance of the Stipulation or the Settlement, shall be admissible in any proceeding for any purpose, except to enforce the terms of the Settlement in court, and except that the Released Persons may file or use the Stipulation, this Order, and/or the Judgment in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, standing, judgment bar, or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 13. The Court reserves the right to adjourn the date of the Settlement Hearing or modify any other dates set forth herein without further notice to Current Opendoor Stockholders and retains jurisdiction to consider all further applications arising out of or connected with the Settlement. The Court may decide to hold the Settlement Hearing telephonically or by videoconference without further notice to Current Opendoor Stockholders. Any Current Opendoor Stockholder (or his, her, or its counsel) who wishes to appear at the Settlement Hearing should consult the Court’s calendar and/or the investor relations page of Opendoor’s website for any change in date, time or format of the Settlement Hearing. The Court may approve the Settlement and any of its terms, with such modifications as may be agreed to by the Settling Parties, if appropriate, without further notice to Current Opendoor Stockholders. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 89 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b182", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b184", "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b186"], "char_count": 3772, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "203dc22457a028692c95c236965d27ab5efd7ee1a58ef2f561ffd286230d2608", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 182, "char_end": 225, "char_start": 0, "fragment_sha256": "a5ece29f1463db12db6daa1dc8b3d060795878ef480a87f394a74164e0faa2e5", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 184, "char_end": 1229, "char_start": 0, "fragment_sha256": "dc21abfee88853546ab67e128126ed871eeeac5f995af4dc9ca4329c8f6c4832", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 186, "char_end": 2314, "char_start": 0, "fragment_sha256": "a5ca0aed493b56096d86bca5e31cf2253721bc540e43b26ad84b00bea069de88", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p79", "passage_kind": "narrative", "passage_sequence": 79, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 IT IS SO ORDERED. DATED: HONORABLE MICHAEL T. LIBURDI UNITED STATES DISTRICT JUDGE Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 90 of 95\n\n1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL EXHIBIT D [PROPOSED] FINAL ORDER AND JUDGMENT This matter came before the Court for hearing, pursuant to this Court’s Order Preliminarily Approving Derivative Settlement and Providing for Notice, dated __________, 2025 (the “Preliminary Approval Order”), on the application of Plaintiff Gera for final approval of the Settlement set forth in the Stipulation of Settlement dated June 27, 2025 (the “Stipulation”). Due and adequate notice having been given to Current Opendoor Stockholders as required in said Preliminary Approval Order, and the Court having Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 91 of 95\n\n2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 considered all papers filed and proceedings had herein and otherwise being fully informed of the premises and good cause appearing therefore, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that: 1. This Final Order and Judgment (“Judgment”) incorporates by reference the definitions in the Stipulation, and except where otherwise specified herein, all capitalized terms used herein shall have the same meanings as set forth in the Stipulation. 2. This Court has jurisdiction over the subject matter of the Gera Action, including all matters necessary to effectuate the Settlement, and over all Settling Parties. 3. The Court finds that the Settlement set forth in the Stipulation is fair, reasonable, and adequate as to each of the Settling Parties and Current Opendoor Stockholders, and hereby finally approves the Settlement in all respects and orders the Settling Parties to perform its terms to the extent the Settling Parties have not already done so. 4. The Gera Action, all claims contained therein, and any other Released Claims, are hereby ordered as fully, finally, and forever compromised, settled, released, discharged, and dismissed on the merits and with prejudice by virtue of the proceedings herein and this Judgment. The Settling Parties are to bear their own costs, except as otherwise provided in the Stipulation. 5. Upon the Effective Date, Plaintiffs in each of the Derivative Actions, other than Plaintiff Gera in the Gera Action, shall file appropriate papers with the United States District Court for the District of Delaware or Delaware Court of Chancery, as appropriate, to voluntarily dismiss their respective Actions with prejudice. 6. Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be deemed to have, and by operation of this Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons, including any and all claims (including Unknown Claims) Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 92 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b188"], "char_count": 2322, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8143a6bd404a45a3d48c9f5fc57ea1a2e991e7b48c9e02071ff284bf4dbc6619", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 188, "char_end": 2322, "char_start": 0, "fragment_sha256": "20fcb634e64d61aed949f272005e21d4887706eaab771246a6eecd6eab8101bb", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p80", "passage_kind": "narrative", "passage_sequence": 80, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 against the Released Persons arising out of, relating to, or in connection with the defense, Settlement, or resolution of the Derivative Actions. 7. Upon the Effective Date, Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of the Stipulation. 8. Upon the Effective Date, Opendoor shall be deemed to have, and by operation of this Judgment shall have fully, finally, and forever waived, released, relinquished, discharged, and dismissed all Released Claims (including Unknown Claims) against the Released Persons. 9. Upon the Effective Date, Opendoor shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting any of the Released Claims (including Unknown Claims) or any action or other proceeding against any of the Released Persons based on the Released Claims, or any action or proceeding arising out of, relating to, or in connection with the Released Claims. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of the Stipulation. 10. Upon the Effective Date, each of the Released Persons shall be deemed to have fully, finally, and forever released, relinquished, and discharged Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons from all claims (including unknown claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims. Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 93 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b190"], "char_count": 2361, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "af8dc3edea32dc53ddff1068fdef6daf55231ec81aa5c0f3f9ad97268b9d5dfb", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 190, "char_end": 2361, "char_start": 0, "fragment_sha256": "74e6d3b92934a4bb567e418f769e2f4d85067d773cbf458ed1c600ff720872c3", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p81", "passage_kind": "narrative", "passage_sequence": 81, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 11. Upon the Effective Date, each of the Released Persons shall be forever barred, estopped, and enjoined from commencing, instituting, or prosecuting all claims (including Unknown Claims), arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement, or resolution of the Derivative Actions or the Released Claims, or any action or other proceeding against any Plaintiffs and their Related Persons, Plaintiffs’ Counsel and their Related Persons, and Current Opendoor Stockholders (solely in their capacity as Opendoor stockholders) and their Related Persons.. 12. Nothing herein shall in any way impair or restrict the rights of any Settling Party to enforce the terms of the Stipulation. 13. The Court finds that the notice to Current Opendoor Stockholders was made in accordance with the Preliminary Approval Order and provided the best notice practicable under the circumstances to all Persons entitled to such notice, and said notice fully satisfied the requirements of Federal Rule of Civil Procedure 23.1 and the requirements of due process. 14. The Court finds that during the course of the litigation, the Settling Parties and their counsel at all times complied with Federal Rule of Civil Procedure 11. 15. The Court hereby approves the Fee and Expense Amount in the amount of $1.95 million agreed to by Plaintiffs’ Counsel and Defendants and finds that such Fee and Expense Award is fair and reasonable in light of the substantial benefits conferred upon Opendoor by the Corporate Governance Reforms. 16. The Court also hereby awards each of the Plaintiffs and Ingrao $2,500 as Service Awards, to be paid solely out of the Fee and Expense Award. 17. Neither this Judgment, the Stipulation (including any exhibits attached thereto) nor any act performed or document executed pursuant to or in furtherance of the Stipulation or Settlement: (a) is or may be deemed to be or may be offered, attempted to be offered or used in any way as a presumption, a concession, admission, or evidence of the validity or infirmity of any Released Claims, or of any fault, wrongdoing or liability of the Released Persons; (b) is, may be deemed to be, or may be used as a presumption, Case 2:23-cv-02164-MTL Document 60-2 Filed 06/27/25 Page 94 of 95"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#b192"], "char_count": 1945, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9b47a3040769c2f7820e5cdd4f03f23a1863d4a46377b8d2785a22505abe661c", "derivation_id": "acec9a5924e7d17333dd95508edfb7f99439634721e91281af56518519b8e612", "document_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "block_sequence": 192, "char_end": 1945, "char_start": 0, "fragment_sha256": "eac595dd3ebbeb8f95da1aac9ecfb9d1b94963cf6161d6428d83829fccd02d1c", "heading_path": ["EX-99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#p82", "passage_kind": "narrative", "passage_sequence": 82, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit991-stipulationof.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit991-stipulationof.htm", "table_id": null, "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 concession, admission or evidence of any liability, fault, or omission of any of the Released Persons in any civil, criminal, or administrative, or other proceeding in any court, administrative agency, tribunal, or other forum; or (c) is or may be deemed an admission by any Settling Party as to the merits or lack thereof of any claim, allegation, or defense. 18. Neither this Judgment, the Stipulation, nor the Settlement, nor any act performed or document executed pursuant to or in furtherance thereof, shall be admissible in any proceeding for any purpose, except to enforce the terms of the Settlement in court, and except that the Released Persons may file or use the Stipulation and/or this Judgment in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, full faith and credit, release, standing, judgment bar, or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 19. Without affecting the finality of this Judgment in any way, the Court hereby retains continuing jurisdiction over: (a) implementation of the Settlement; and (b) all Settling Parties for the purpose of construing, enforcing, and administering the Stipulation and this Judgment, including, if necessary, setting aside and vacating this Judgment, on motion of a Settling Party, to the extent consistent with and in accordance with the Stipulation if the Effective Date fails to occur in accordance with the Stipulation. 20. This Judgment is a final, appealable judgment and should be entered forthwith by the Clerk in accordance with Federal Rule of Civil Procedure 58. IT IS SO ORDERED. DATED: _______________________ HONORABLE MICHAEL T. 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"EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 UNITED STATES DISTRICT COURT DISTRICT OF ARIZONA Samhita Gera, derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL NOTICE TO CURRENT OPENDOOR STOCKHOLDERS OF PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF DERIVATIVE ACTIONS TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF THE OPENDOOR TECHNOLOGIES INC. COMMON STOCK (TICKER SYMBOL: OPEN) AS OF JUNE 27, 2025. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE RELATES TO A PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF STOCKHOLDER DERIVATIVE LITIGATION AND CONTAINS IMPORTANT INFORMATION REGARDING YOUR RIGHTS. IF THE COURT APPROVES THE SETTLEMENT OF THE DERIVATIVE ACTIONS, OPENDOOR TECHNOLOGIES INC. (\u201cOPENDOOR\u201d OR THE \u201cCOMPANY\u201d) STOCKHOLDERS WILL BE FOREVER BARRED FROM CONTESTING THE APPROVAL OF THE PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE, AND FROM PURSUING RELEASED CLAIMS. THIS ACTION IS NOT A \u201cCLASS ACTION.\u201d THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT. 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IT IS BASED ON REPRESENTATIONS MADE TO THE COURT BY COUNSEL FOR THE SETTLING PARTIES. IF YOU HOLD OPENDOOR COMMON STOCK FOR THE BENEFIT OF ANOTHER, PLEASE PROMPTLY TRANSMIT THIS DOCUMENT TO SUCH BENEFICIAL OWNER. PLEASE TAKE NOTICE that this action is being settled on the terms set forth in a Stipulation of Settlement, dated June 27, 2025 (the \u201cStipulation\u201d). The purpose of this Notice is to inform you of: \u2022 the existence of the above-captioned derivative action captioned Gera v. Palihapitiya et al., No. 2:23-cv-02164-MTL (the \u201cGera Action\u201d), pending in the United States District Court for the District of Arizona (the \u201cCourt\u201d); \u2022 the existence of derivative actions pending in the Court of Chancery of the State of Delaware and the United States District Court for the District of Delaware captioned: In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642- PAF (Del. Ch.) (the \u201cDelaware Chancery Action\u201d), Juul v. Wu et al., No. 1:23-cv-00705- MN (D. Del.) (the \u201cJuul Action\u201d), and Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN (D. Del.) (the \u201cWoods Action\u201d), respectively (collectively, with the Gera Action, the \u201cDerivative Actions\u201d); \u2022 the proposed settlement between Plaintiffs1 and Defendants reached in the Derivative Actions (the \u201cSettlement\u201d); \u2022 the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement and dismissal of the Gera Action and Released Claims with prejudice; \u2022 The amount of fees and expenses to be paid to Plaintiffs\u2019 Counsel by Defendants\u2019 insurers; and \u2022 Plaintiffs\u2019 and Ingrao\u2019s monetary service awards. 1 All capitalized terms used in this notice, unless otherwise defined herein, are defined as set forth in the Stipulation. The Settlement also resolves all matters raised in litigation demands made to Opendoor\u2019s board of directors." + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b9", + "block_sequence": 9, + "block_sha256": "b0703a695f12d0b62aaa95e7400fac25b835272485b3ea2e2c1054cc973bbc21", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 9, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "5fe23fabb36967158417f49158dfab4e38381cedd84ea7249f97cb58b84a99c6", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "exhibit992-noticeofsettl003.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b10", + "block_sequence": 10, + "block_sha256": "c21f0c24c2dd98dd62aa3fcedb047563ce3ae73f4fbe9652c82dfd3bf1b02ade", + "block_type": "paragraph", + "char_count": 3130, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 10, + "char_end": 3130, + "char_start": 0, + "fragment_sha256": "76022d79ed58c4b3ca8af09b93330b44068e0616b4368722ca98f37d4fde1d51", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 This Notice describes what steps you may take in relation to the Settlement. This Notice is not an expression of any opinion by the Court about the truth or merits of Plaintiffs\u2019 claims or Defendants\u2019 defenses. This Notice is solely to advise you of the proposed Settlement of the Derivative Actions and of your rights in connection with the proposed Settlement. Summary On June 27, 2025, Opendoor, in its capacity as a nominal defendant, entered into the Stipulation to resolve the Derivative Actions. The Derivative Actions were filed on behalf of Opendoor in this Court, the Delaware Court of Chancery, and the U.S. District Court for the District of Delaware against certain current and former directors and officers of the Company, SCH Sponsor II LLC (\u201cSponsor\u201d), and against the Company as a nominal defendant. The Stipulation and the settlement contemplated therein (the \u201cSettlement\u201d), subject to the approval of the Court, are intended by the Settling Parties to fully, finally, and forever compromise, resolve, discharge, dismiss, and settle the Released Claims and to result in the complete dismissal of the Derivative Actions with prejudice, upon the terms and subject to the conditions set forth in the Stipulation. The proposed Settlement requires the Company to adopt certain corporate governance reforms and procedures, as outlined in Exhibit A to the Stipulation. In light of the substantial benefits conferred upon Opendoor by Plaintiffs\u2019 Counsel\u2019s efforts, the Company and Plaintiffs\u2019 Counsel have participated in negotiations regarding the attorneys\u2019 fee and expenses to be paid by Defendants\u2019 insurers to Plaintiffs\u2019 Counsel, and have agreed that Defendants\u2019 insurers shall pay to Plaintiffs\u2019 Counsel $1.95 million in attorneys\u2019 fees and expenses, subject to Court approval. Plaintiffs\u2019 Counsel shall also apply to the Court for service awards to be paid to each of the Plaintiffs and Ingrao in the amount of two thousand five hundred dollars ($2,500.00) each (the \u201cService Awards\u201d), to be paid out of any attorneys\u2019 fees and expense award. This Notice does not describe all of the details of the Stipulation. For full details of the matters discussed herein, please see the full Stipulation and its exhibits posted on the Company\u2019s website, https://investor.opendoor.com/ir-resources/shareholder-derivative- settlement-information, contact Plaintiff Gera\u2019s counsel at the address listed below, or inspect the full Stipulation and its exhibits filed with the Clerk of the Court. What are the Lawsuits About? The Derivative Actions are respectively brought on behalf of nominal defendant Opendoor and allege, among other things, that the Individual Defendants breached their fiduciary duties to the Company by inter alia: allegedly issuing and/or causing the Company to issue materially false or misleading statements leading up to and after a business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. Plaintiffs allege that the Individual Defendants did not disclose certain material information" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b11", + "block_sequence": 11, + "block_sha256": "5712147565232fda54488e7a5dc034a58c74e46ac3a2514e62d8a2c71cd60cfa", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 11, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "02d535f3c1523ccf44db26f86b87f0bc197a7caa3fe0692eb5fef7a83a3bc54f", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "exhibit992-noticeofsettl004.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b12", + "block_sequence": 12, + "block_sha256": "0c696952e0ffc6429def7d02b3007ec6d98770de74628f21e5880c9095dce6f2", + "block_type": "paragraph", + "char_count": 3397, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 12, + "char_end": 3397, + "char_start": 0, + "fragment_sha256": "3ec50de225bd2bca9696f2b1c9458f11e8688cf58ffbbfcb05b020ab732f0feb", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 relating to Opendoor\u2019s algorithms and financial prospects, the value of the Opendoor\u2019s legacy business, and certain alleged conflicts of interest. Certain of the Derivative Actions, including the Gera Action, also allege that the Individual Defendants and Sponsor are liable to the Company under the Securities Exchange Act of 1934, including pursuant to Section 10(b) and 14(a) of the Securities Exchange Act of 1934, by allegedly making and/or causing the Company to make misrepresentations in the Company\u2019s proxy statement filed on DEFM14A with the United States Securities and Exchange Commission (the \u201cSEC\u201d) on November 30, 2020, in other filings with the SEC, and in other public statements regarding the foregoing. Why is there a Settlement of the Derivative Actions? No court has decided in favor of Plaintiffs or Defendants in the Derivative Actions. Instead, the Settling Parties have agreed to the Settlement to avoid the distraction, costs, and risks of further litigation, and because the Company has determined that the corporate governance reforms and procedures that the Company will adopt as part of the Settlement provide substantial benefits to Opendoor and its stockholders. Defendants have denied and continue to deny each and every claim and contention alleged by the Plaintiffs in the Derivative Actions and any allegation of wrongdoing or liability arising out of, based on, or relating in any way to the events, conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Derivative Actions. Nonetheless, Defendants have entered into the Stipulation, without admitting or conceding any merit, fault, liability, wrongdoing, or damage whatsoever, because they have concluded that it is desirable for the Derivative Actions to be fully and finally settled in this matter upon the terms and conditions set forth in the Stipulation. The Settlement Hearing, and Your Right to Object to the Settlement On September 11, 2025, the Court entered an order preliminarily approving the Stipulation and the Settlement contemplated therein (the \u201cPreliminary Approval Order\u201d) and providing for notice of the Settlement to be made to Current Opendoor Stockholders. The Preliminary Approval Order further provides that the Court will hold a hearing (the \u201cSettlement Hearing\u201d) on November 25, 2025 at 10:00a.m. before the Honorable Michael T. Liburdi, United States District Court for the District of Arizona, Sandra Day O\u2019Connor U.S. Courthouse, 401 W. Washington Street, Suite 524, Phoenix, AZ 85003 to, among other things: (i) determine whether the proposed Settlement is fair, reasonable and adequate and in the best interests of the Company and its stockholders; (ii) consider any objections to the Settlement submitted in accordance with this Notice; (iii) determine whether a judgment should be entered dismissing all claims in the Gera Action with prejudice, and releasing the Released Claims against the Released Persons; (iv) [determine whether the Court should approve the Fee and Expense Amount agreed upon by the Settling Parties]; (v) determine whether the Court should approve the Service Awards, to be paid out of any attorneys\u2019 fees and expense award; and (vi) consider any other matters that may properly be brought before the Court in connection with the Settlement." + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b13", + "block_sequence": 13, + "block_sha256": "452ab570af34e19690da5d5a4ad075c09c04fa7c4b9d963adc8c5ad5605bd73d", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 13, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "c406fdbf6103b52b11cb31bb8591e330ac6b3b5754b6cfee3b74af1c8e0eaf7b", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "exhibit992-noticeofsettl005.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b14", + "block_sequence": 14, + "block_sha256": "1e155c006578028804f531f121cd6253bc97bb687e01d4396a1e1af70aa925b9", + "block_type": "paragraph", + "char_count": 2995, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 14, + "char_end": 2995, + "char_start": 0, + "fragment_sha256": "136ffc588791590eff42c7c2cc2eb0ea419071d71ba72de92fd5f4db65c52ba7", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 The Court may, in its discretion, change the date and/or time of the Settlement Hearing without further notice to you. The Court also has reserved the right to hold the Settlement Hearing telephonically or by videoconference without further notice to you. If you intend to attend the Settlement Hearing, please consult the Court\u2019s calendar and/or the website of Opendoor, https://investor.opendoor.com/ir-resources/shareholder-derivative- settlement-information, for any change in date, time or format of the Settlement Hearing. Any Current Opendoor Stockholder who wishes to object to the fairness, reasonableness, or adequacy of the Settlement as set forth in the Stipulation, or to the attorneys\u2019 fees and expense request by Plaintiffs\u2019 Counsel, may file with the Court a written objection. An objector must at least twenty-one (21) calendar days prior to the Settlement Hearing: (1) file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel a written objection to the Settlement setting forth (a) the nature of the objection; (b) proof of ownership of Opendoor common stock as of June 27, 2025 and through the date of the filing of any such objection, including the number of shares of Opendoor common stock held and the date of purchase or acquisition; (c) any and all documentation or evidence in support of such objection; (d) the identities of any cases, by name, court, and docket number, in which the stockholder or his, her, or its attorney has objected to a settlement in the last three years; and (2) if intending to appear and requesting to be heard at the Settlement Hearing, he, she, or it must, in addition to the requirements of (1) above, file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel (a) a written notice of his, her, or its intention to appear at the Settlement Hearing, (b) a statement that indicates the basis for such appearance, (c) the identities of any witnesses he, she, or it intends to call at the Settlement Hearing and a statement as to the subjects of their testimony, and (d) any and all evidence that would be presented at the Settlement Hearing. Any objector who does not timely file and serve a notice of intention to appear in accordance with this paragraph shall be foreclosed from raising any objection to the Settlement and shall not be permitted to appear at the Settlement Hearing, except for good cause shown. IF YOU MAKE A WRITTEN OBJECTION, IT MUST BE ON FILE WITH THE CLERK OF THE COURT NO LATER THAN NOVEMBER 4, 2025. The Clerk\u2019s address is: Clerk of the Court U.S. DISTRICT COURT, DISTRICT OF ARIZONA 401 W. Washington St., Suite 130, SPC 1 Phoenix, AZ 85003 YOU ALSO MUST DELIVER COPIES OF THE MATERIALS TO PLAINTIFFS\u2019 COUNSEL AND DEFENDANTS\u2019 COUNSEL SO THEY ARE RECEIVED NO LATER THAN NOVEMBER 4, 2025. Counsel\u2019s addresses are:" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b15", + "block_sequence": 15, + "block_sha256": "32c3215af6acbdaf3cbb3546284819dea6870e56d120e8c6bf42ae1303e502bd", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 15, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "e0a12a0b4a48e01cebba5998f95e918260cdfe60b7232004ed3c0c637965c0fd", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "exhibit992-noticeofsettl006.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b16", + "block_sequence": 16, + "block_sha256": "cff63f72600a0633a69def707d359ff42a0bc780a3dbc09a716ab47c10b663ad", + "block_type": "paragraph", + "char_count": 2230, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", + "block_sequence": 16, + "char_end": 2230, + "char_start": 0, + "fragment_sha256": "b2e7fc801c5626cfa1d8de79d6e3da64676b2eb54706b5b8aa9a5593cd8aa612", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", + "table": null, + "text": "6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Counsel for Plaintiff Gera: Timothy Brown THE BROWN LAW FIRM, P.C. 767 Third Avenue, Suite 2501 New York, NY 10017 Counsel for Defendants: Lyle Roberts ALLEN OVERY SHEARMAN STERLING US LLP 1101 New York Avenue, N.W. Washington, DC 20005 An objector may file an objection on his, her, or its own or through an attorney hired at his, her, or its own expense. If an objector hires an attorney to represent him, her, or it for the purposes of making such objection, the attorney must serve (either by hand delivery or by first class mail) a notice of appearance on the counsel listed above and file such notice with the Court no later than twenty-one (21) calendar days before the Settlement Hearing. Any Current Opendoor Stockholder who does not timely file and serve a written objection complying with the above terms shall be deemed to have waived, and shall be foreclosed from raising, any objection to the Settlement, and any untimely objection shall be barred. Any objector who files and serves a timely, written objection in accordance with the instructions above, may appear at the Settlement Hearing either in person or through counsel retained at the objector\u2019s expense. Objectors need not attend the Settlement Hearing, however, in order to have their objections considered by the Court. If you are a Current Opendoor Stockholder and do not take steps to appear in this action and object to the proposed Settlement, you will be bound by the Judgment of the Court and will forever be barred from raising an objection to the settlement of the Derivative Actions, and from pursuing any of the Released Claims. CURRENT OPENDOOR STOCKHOLDERS AS OF JUNE 27, 2025 WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION. Interim Stay and Injunction Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. 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Scope of the Notice This Notice provides an overview of the Derivative Actions, the complaints, the terms of the Settlement, and the Settlement Hearing. For a more detailed statement of the matters involved in the Derivative Actions, reference is made to the Stipulation and its exhibits, copies of which may be reviewed and downloaded at the website of Opendoor, https://investor.opendoor.com/ir-resources/shareholder-derivative-settlement-information. * * * You may obtain further information by contacting Plaintiff\u2019s Counsel at: Timothy Brown, The Brown Law Firm, P.C., 767 Third Avenue, Suite 2501, New York, NY, 10017, Telephone: (516) 922-5427, E-mail: tbrown@thebrownlawfirm.net. 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derivatively on behalf of Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II), Plaintiff, v. Chamath Palihapitiya, Steven Trieu, Ian Osborne, David Spillane, Adam Bain, Eric Wu, Carrie Wheeler, Cipora Herman, Pueo Keffer, Glen Solomon, Jason Kilar, Jonathan Jaffe, John Rice, and SCH Sponsor II LLC, Defendants and Opendoor Technologies Inc. (f/k/a Social Capital Hedosophia Holdings Corp. II) Nominal Defendant. Case No. 2:23-cv-02164-MTL NOTICE TO CURRENT OPENDOOR STOCKHOLDERS OF PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF DERIVATIVE ACTIONS TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF THE OPENDOOR TECHNOLOGIES INC. COMMON STOCK (TICKER SYMBOL: OPEN) AS OF JUNE 27, 2025. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE RELATES TO A PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE OF STOCKHOLDER DERIVATIVE LITIGATION AND CONTAINS IMPORTANT INFORMATION REGARDING YOUR RIGHTS. IF THE COURT APPROVES THE SETTLEMENT OF THE DERIVATIVE ACTIONS, OPENDOOR TECHNOLOGIES INC. (“OPENDOOR” OR THE “COMPANY”) STOCKHOLDERS WILL BE FOREVER BARRED FROM CONTESTING THE APPROVAL OF THE PROPOSED SETTLEMENT AND DISMISSAL WITH PREJUDICE, AND FROM PURSUING RELEASED CLAIMS. THIS ACTION IS NOT A “CLASS ACTION.” THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT. Exhibit 99.2"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b8"], "char_count": 2056, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "458df620a07f6d707891a891545017f990d8cc4a46588a6c273934bdff4798ec", "derivation_id": "215245cac21ad4b02b11b83389eb2efb50ef8c39a43ad0d8438efe9a2aa3179b", "document_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "block_sequence": 8, "char_end": 2056, "char_start": 0, "fragment_sha256": "716f72a47b6e7826b1a48c54e7f9e8da841462b172dbb9862d07b2979e1f5954", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit992-noticeofsettl.htm", "table_id": null, "text": "2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 THE RECITATION OF THE BACKGROUND AND CIRCUMSTANCES OF THE SETTLEMENT CONTAINED HEREIN DOES NOT CONSTITUTE THE FINDINGS OF THE COURT. IT IS BASED ON REPRESENTATIONS MADE TO THE COURT BY COUNSEL FOR THE SETTLING PARTIES. IF YOU HOLD OPENDOOR COMMON STOCK FOR THE BENEFIT OF ANOTHER, PLEASE PROMPTLY TRANSMIT THIS DOCUMENT TO SUCH BENEFICIAL OWNER. PLEASE TAKE NOTICE that this action is being settled on the terms set forth in a Stipulation of Settlement, dated June 27, 2025 (the “Stipulation”). The purpose of this Notice is to inform you of: • the existence of the above-captioned derivative action captioned Gera v. Palihapitiya et al., No. 2:23-cv-02164-MTL (the “Gera Action”), pending in the United States District Court for the District of Arizona (the “Court”); • the existence of derivative actions pending in the Court of Chancery of the State of Delaware and the United States District Court for the District of Delaware captioned: In re Opendoor Techs. Stockholder Derivative Litigation, C.A. No. 2023-0642- PAF (Del. Ch.) (the “Delaware Chancery Action”), Juul v. Wu et al., No. 1:23-cv-00705- MN (D. Del.) (the “Juul Action”), and Woods, et al. v. Bain et al., No. 1:23-cv-01158-MN (D. Del.) (the “Woods Action”), respectively (collectively, with the Gera Action, the “Derivative Actions”); • the proposed settlement between Plaintiffs1 and Defendants reached in the Derivative Actions (the “Settlement”); • the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement and dismissal of the Gera Action and Released Claims with prejudice; • The amount of fees and expenses to be paid to Plaintiffs’ Counsel by Defendants’ insurers; and • Plaintiffs’ and Ingrao’s monetary service awards. 1 All capitalized terms used in this notice, unless otherwise defined herein, are defined as set forth in the Stipulation. The Settlement also resolves all matters raised in litigation demands made to Opendoor’s board of directors."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b10"], "char_count": 3130, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c21f0c24c2dd98dd62aa3fcedb047563ce3ae73f4fbe9652c82dfd3bf1b02ade", "derivation_id": "215245cac21ad4b02b11b83389eb2efb50ef8c39a43ad0d8438efe9a2aa3179b", "document_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "block_sequence": 10, "char_end": 3130, "char_start": 0, "fragment_sha256": "76022d79ed58c4b3ca8af09b93330b44068e0616b4368722ca98f37d4fde1d51", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit992-noticeofsettl.htm", "table_id": null, "text": "3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 This Notice describes what steps you may take in relation to the Settlement. This Notice is not an expression of any opinion by the Court about the truth or merits of Plaintiffs’ claims or Defendants’ defenses. This Notice is solely to advise you of the proposed Settlement of the Derivative Actions and of your rights in connection with the proposed Settlement. Summary On June 27, 2025, Opendoor, in its capacity as a nominal defendant, entered into the Stipulation to resolve the Derivative Actions. The Derivative Actions were filed on behalf of Opendoor in this Court, the Delaware Court of Chancery, and the U.S. District Court for the District of Delaware against certain current and former directors and officers of the Company, SCH Sponsor II LLC (“Sponsor”), and against the Company as a nominal defendant. The Stipulation and the settlement contemplated therein (the “Settlement”), subject to the approval of the Court, are intended by the Settling Parties to fully, finally, and forever compromise, resolve, discharge, dismiss, and settle the Released Claims and to result in the complete dismissal of the Derivative Actions with prejudice, upon the terms and subject to the conditions set forth in the Stipulation. The proposed Settlement requires the Company to adopt certain corporate governance reforms and procedures, as outlined in Exhibit A to the Stipulation. In light of the substantial benefits conferred upon Opendoor by Plaintiffs’ Counsel’s efforts, the Company and Plaintiffs’ Counsel have participated in negotiations regarding the attorneys’ fee and expenses to be paid by Defendants’ insurers to Plaintiffs’ Counsel, and have agreed that Defendants’ insurers shall pay to Plaintiffs’ Counsel $1.95 million in attorneys’ fees and expenses, subject to Court approval. Plaintiffs’ Counsel shall also apply to the Court for service awards to be paid to each of the Plaintiffs and Ingrao in the amount of two thousand five hundred dollars ($2,500.00) each (the “Service Awards”), to be paid out of any attorneys’ fees and expense award. This Notice does not describe all of the details of the Stipulation. For full details of the matters discussed herein, please see the full Stipulation and its exhibits posted on the Company’s website, https://investor.opendoor.com/ir-resources/shareholder-derivative- settlement-information, contact Plaintiff Gera’s counsel at the address listed below, or inspect the full Stipulation and its exhibits filed with the Clerk of the Court. What are the Lawsuits About? The Derivative Actions are respectively brought on behalf of nominal defendant Opendoor and allege, among other things, that the Individual Defendants breached their fiduciary duties to the Company by inter alia: allegedly issuing and/or causing the Company to issue materially false or misleading statements leading up to and after a business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. Plaintiffs allege that the Individual Defendants did not disclose certain material information"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b12"], "char_count": 3397, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0c696952e0ffc6429def7d02b3007ec6d98770de74628f21e5880c9095dce6f2", "derivation_id": "215245cac21ad4b02b11b83389eb2efb50ef8c39a43ad0d8438efe9a2aa3179b", "document_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "block_sequence": 12, "char_end": 3397, "char_start": 0, "fragment_sha256": "3ec50de225bd2bca9696f2b1c9458f11e8688cf58ffbbfcb05b020ab732f0feb", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit992-noticeofsettl.htm", "table_id": null, "text": "4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 relating to Opendoor’s algorithms and financial prospects, the value of the Opendoor’s legacy business, and certain alleged conflicts of interest. Certain of the Derivative Actions, including the Gera Action, also allege that the Individual Defendants and Sponsor are liable to the Company under the Securities Exchange Act of 1934, including pursuant to Section 10(b) and 14(a) of the Securities Exchange Act of 1934, by allegedly making and/or causing the Company to make misrepresentations in the Company’s proxy statement filed on DEFM14A with the United States Securities and Exchange Commission (the “SEC”) on November 30, 2020, in other filings with the SEC, and in other public statements regarding the foregoing. Why is there a Settlement of the Derivative Actions? No court has decided in favor of Plaintiffs or Defendants in the Derivative Actions. Instead, the Settling Parties have agreed to the Settlement to avoid the distraction, costs, and risks of further litigation, and because the Company has determined that the corporate governance reforms and procedures that the Company will adopt as part of the Settlement provide substantial benefits to Opendoor and its stockholders. Defendants have denied and continue to deny each and every claim and contention alleged by the Plaintiffs in the Derivative Actions and any allegation of wrongdoing or liability arising out of, based on, or relating in any way to the events, conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Derivative Actions. Nonetheless, Defendants have entered into the Stipulation, without admitting or conceding any merit, fault, liability, wrongdoing, or damage whatsoever, because they have concluded that it is desirable for the Derivative Actions to be fully and finally settled in this matter upon the terms and conditions set forth in the Stipulation. The Settlement Hearing, and Your Right to Object to the Settlement On September 11, 2025, the Court entered an order preliminarily approving the Stipulation and the Settlement contemplated therein (the “Preliminary Approval Order”) and providing for notice of the Settlement to be made to Current Opendoor Stockholders. The Preliminary Approval Order further provides that the Court will hold a hearing (the “Settlement Hearing”) on November 25, 2025 at 10:00a.m. before the Honorable Michael T. Liburdi, United States District Court for the District of Arizona, Sandra Day O’Connor U.S. Courthouse, 401 W. Washington Street, Suite 524, Phoenix, AZ 85003 to, among other things: (i) determine whether the proposed Settlement is fair, reasonable and adequate and in the best interests of the Company and its stockholders; (ii) consider any objections to the Settlement submitted in accordance with this Notice; (iii) determine whether a judgment should be entered dismissing all claims in the Gera Action with prejudice, and releasing the Released Claims against the Released Persons; (iv) [determine whether the Court should approve the Fee and Expense Amount agreed upon by the Settling Parties]; (v) determine whether the Court should approve the Service Awards, to be paid out of any attorneys’ fees and expense award; and (vi) consider any other matters that may properly be brought before the Court in connection with the Settlement."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b14"], "char_count": 2995, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1e155c006578028804f531f121cd6253bc97bb687e01d4396a1e1af70aa925b9", "derivation_id": "215245cac21ad4b02b11b83389eb2efb50ef8c39a43ad0d8438efe9a2aa3179b", "document_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "block_sequence": 14, "char_end": 2995, "char_start": 0, "fragment_sha256": "136ffc588791590eff42c7c2cc2eb0ea419071d71ba72de92fd5f4db65c52ba7", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit992-noticeofsettl.htm", "table_id": null, "text": "5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 The Court may, in its discretion, change the date and/or time of the Settlement Hearing without further notice to you. The Court also has reserved the right to hold the Settlement Hearing telephonically or by videoconference without further notice to you. If you intend to attend the Settlement Hearing, please consult the Court’s calendar and/or the website of Opendoor, https://investor.opendoor.com/ir-resources/shareholder-derivative- settlement-information, for any change in date, time or format of the Settlement Hearing. Any Current Opendoor Stockholder who wishes to object to the fairness, reasonableness, or adequacy of the Settlement as set forth in the Stipulation, or to the attorneys’ fees and expense request by Plaintiffs’ Counsel, may file with the Court a written objection. An objector must at least twenty-one (21) calendar days prior to the Settlement Hearing: (1) file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel a written objection to the Settlement setting forth (a) the nature of the objection; (b) proof of ownership of Opendoor common stock as of June 27, 2025 and through the date of the filing of any such objection, including the number of shares of Opendoor common stock held and the date of purchase or acquisition; (c) any and all documentation or evidence in support of such objection; (d) the identities of any cases, by name, court, and docket number, in which the stockholder or his, her, or its attorney has objected to a settlement in the last three years; and (2) if intending to appear and requesting to be heard at the Settlement Hearing, he, she, or it must, in addition to the requirements of (1) above, file with the Clerk of the Court and serve (either by hand delivery or by first class mail) upon the below listed counsel (a) a written notice of his, her, or its intention to appear at the Settlement Hearing, (b) a statement that indicates the basis for such appearance, (c) the identities of any witnesses he, she, or it intends to call at the Settlement Hearing and a statement as to the subjects of their testimony, and (d) any and all evidence that would be presented at the Settlement Hearing. Any objector who does not timely file and serve a notice of intention to appear in accordance with this paragraph shall be foreclosed from raising any objection to the Settlement and shall not be permitted to appear at the Settlement Hearing, except for good cause shown. IF YOU MAKE A WRITTEN OBJECTION, IT MUST BE ON FILE WITH THE CLERK OF THE COURT NO LATER THAN NOVEMBER 4, 2025. The Clerk’s address is: Clerk of the Court U.S. DISTRICT COURT, DISTRICT OF ARIZONA 401 W. Washington St., Suite 130, SPC 1 Phoenix, AZ 85003 YOU ALSO MUST DELIVER COPIES OF THE MATERIALS TO PLAINTIFFS’ COUNSEL AND DEFENDANTS’ COUNSEL SO THEY ARE RECEIVED NO LATER THAN NOVEMBER 4, 2025. Counsel’s addresses are:"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b16"], "char_count": 2230, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cff63f72600a0633a69def707d359ff42a0bc780a3dbc09a716ab47c10b663ad", "derivation_id": "215245cac21ad4b02b11b83389eb2efb50ef8c39a43ad0d8438efe9a2aa3179b", "document_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "block_sequence": 16, "char_end": 2230, "char_start": 0, "fragment_sha256": "b2e7fc801c5626cfa1d8de79d6e3da64676b2eb54706b5b8aa9a5593cd8aa612", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit992-noticeofsettl.htm", "table_id": null, "text": "6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Counsel for Plaintiff Gera: Timothy Brown THE BROWN LAW FIRM, P.C. 767 Third Avenue, Suite 2501 New York, NY 10017 Counsel for Defendants: Lyle Roberts ALLEN OVERY SHEARMAN STERLING US LLP 1101 New York Avenue, N.W. Washington, DC 20005 An objector may file an objection on his, her, or its own or through an attorney hired at his, her, or its own expense. If an objector hires an attorney to represent him, her, or it for the purposes of making such objection, the attorney must serve (either by hand delivery or by first class mail) a notice of appearance on the counsel listed above and file such notice with the Court no later than twenty-one (21) calendar days before the Settlement Hearing. Any Current Opendoor Stockholder who does not timely file and serve a written objection complying with the above terms shall be deemed to have waived, and shall be foreclosed from raising, any objection to the Settlement, and any untimely objection shall be barred. Any objector who files and serves a timely, written objection in accordance with the instructions above, may appear at the Settlement Hearing either in person or through counsel retained at the objector’s expense. Objectors need not attend the Settlement Hearing, however, in order to have their objections considered by the Court. If you are a Current Opendoor Stockholder and do not take steps to appear in this action and object to the proposed Settlement, you will be bound by the Judgment of the Court and will forever be barred from raising an objection to the settlement of the Derivative Actions, and from pursuing any of the Released Claims. CURRENT OPENDOOR STOCKHOLDERS AS OF JUNE 27, 2025 WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION. Interim Stay and Injunction Pending the Effective Date, all proceedings in the Derivative Actions shall be stayed or remain stayed (if already stayed) except as otherwise provided herein. Plaintiffs and Current Opendoor Stockholders shall not initiate any other proceedings relating to the subject matter of the Derivative Actions other than those proceedings incident to the"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#b18"], "char_count": 905, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "537759503650fc118c08d8b70180fb635b420042412246a94aab0f78e0ad1198", "derivation_id": "215245cac21ad4b02b11b83389eb2efb50ef8c39a43ad0d8438efe9a2aa3179b", "document_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "block_sequence": 18, "char_end": 905, "char_start": 0, "fragment_sha256": "8c4433457d3edc26fb772fc9a0e95180816ed846a0ef672ee4792fb5b6ffe4b7", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000086:exhibit992-noticeofsettl.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/exhibit992-noticeofsettl.htm", "table_id": null, "text": "7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Settlement itself. Scope of the Notice This Notice provides an overview of the Derivative Actions, the complaints, the terms of the Settlement, and the Settlement Hearing. For a more detailed statement of the matters involved in the Derivative Actions, reference is made to the Stipulation and its exhibits, copies of which may be reviewed and downloaded at the website of Opendoor, https://investor.opendoor.com/ir-resources/shareholder-derivative-settlement-information. * * * You may obtain further information by contacting Plaintiff’s Counsel at: Timothy Brown, The Brown Law Firm, P.C., 767 Third Avenue, Suite 2501, New York, NY, 10017, Telephone: (516) 922-5427, E-mail: tbrown@thebrownlawfirm.net. 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Opendoor Technologies Inc. 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Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-25-000086:open-20251001.htm#b22"], "char_count": 1484, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "413453a3c964a40b9adfc2ca5bc9e840864a896dbd18c8fa0a6fd6d84ebdee38", "derivation_id": "811a46434a3bbcc7640944ecf6da053f9816e38924f9680b08897b2e0e7ccfda", "document_id": "norm:0001801169:0001801169-25-000086:open-20251001.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-10-01", "filing_id": "sec:0001801169:0001801169-25-000086", "flags": [], "form": "8-K", "heading_path": ["UNITED STATES", "Item 8.01", "Other Events."], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000086:open-20251001.htm", "block_sequence": 22, "char_end": 1484, "char_start": 0, "fragment_sha256": "5d603d7e8f21174f5a81b8b29cd1cec0b27796a034398247c796df813517fe19", "heading_path": ["UNITED STATES", "Item 8.01", "Other Events."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000086:open-20251001.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-10-01", "section_id": "norm:0001801169:0001801169-25-000086:open-20251001.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-25-000086:open-20251001.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000086/open-20251001.htm", "table_id": null, "text": "On September 11, 2025, the U.S. District Court for the District of Arizona (the “District Court”) issued an order granting preliminary approval (the “Preliminary Approval”) of the proposed settlement of the derivative action captioned Gera v. 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Opendoor Technologies Inc. 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Emerging growth company \u2610 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \u2610" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b20", + "block_sequence": 20, + "block_sha256": "067727d53a58ec07d55d565c20d24f40e9b39b84ebd5ddc395aab8c628a5a864", + "block_type": "heading", + "char_count": 35, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 20, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "70968431db8153b3c24773c3ea8c8073d3540a8be446b777527c0e80c508502b", + "heading_path": [ + "N/A", + "Item 7.01 Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s12", + "table": null, + "text": "Item 7.01 Regulation FD Disclosure." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b21", + "block_sequence": 21, + "block_sha256": "9592a5014cd499be45f93cf3c965dd308a3277781e5c6f28c01b58fb5b88654d", + "block_type": "paragraph", + "char_count": 1103, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 21, + "char_end": 1103, + "char_start": 0, + "fragment_sha256": "728998d237db26df9983924cb9e9412d767525d6d86bb841a7759e40f03fa59c", + "heading_path": [ + "N/A", + "Item 7.01 Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s12", + "table": null, + "text": "On November 6, 2025, Opendoor Technologies Inc. (the \u201cCompany\u201d) issued a press release announcing that the Board of Directors of the Company declared a warrant dividend distribution (the \u201cWarrant Distribution\u201d), a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K. In connection with this press release, the Company will make available a document containing questions and answers (the \u201cFAQ\u201d) regarding the Warrant Distribution on the Company\u2019s Investor Relations website. The FAQ is attached as Exhibit 99.2 to this Current Report on Form 8-K. The information furnished in Item 7.01 of this Current Report on Form 8-K (including Exhibits 99.1 and 99.2 attached hereto) shall not be deemed \u201cfiled\u201d for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), or otherwise be subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), or the Exchange Act, except as expressly set forth by specific reference in such a filing." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b22", + "block_sequence": 22, + "block_sha256": "a3a5f47cef070db2ab5b79acb75ccdb30051976f44c49d17876345c3760ca049", + "block_type": "heading", + "char_count": 23, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 22, + "char_end": 23, + "char_start": 0, + "fragment_sha256": "aa2cad5a824daf8b999b5982ecdfe85412dd077f4df73f72857d70f4924052b3", + "heading_path": [ + "N/A", + "Item 8.01 Other Events." + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s13", + "table": null, + "text": "Item 8.01 Other Events." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b23", + "block_sequence": 23, + "block_sha256": "1cc6d087294dd261d715f3fed86c4b6d9c15c767b6364b3737a069cc4078b153", + "block_type": "heading", + "char_count": 29, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 23, + "char_end": 29, + "char_start": 0, + "fragment_sha256": "be354b90d839439a3f67d3b968f526bc5a90609106ba00b5c5a558112b99ff3c", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s14", + "table": null, + "text": "Warrant Dividend Distribution" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b24", + "block_sequence": 24, + "block_sha256": "8e8be5334156f5f9ce57dcb5e48791ebec992f934b6a300631df9c5af2132ea8", + "block_type": "paragraph", + "char_count": 3109, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 24, + "char_end": 3109, + "char_start": 0, + "fragment_sha256": "0e700d50168872fdf5d1a738b7c3ac233b8ebc231ea2b162b36f22afde0f334c", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s14", + "table": null, + "text": "On November 6, 2025, the Company announced the Warrant Distribution to the record holders of the Company\u2019s common stock, par value $0.0001 per share (the \u201cCommon Stock\u201d), in the form of warrants to purchase Common Stock (each, a \u201cWarrant\u201d, and collectively, the \u201cWarrants\u201d). The Warrants will be distributed on or around November 21, 2025 (the \u201cDistribution Date\u201d) to the record holders of Common Stock as of the close of business on November 18, 2025 (the \u201cRecord Date\u201d). Each registered holder of Common Stock on the Record Date will receive three (3) series of Warrants\u2014Series K, Series A, and Series Z\u2014one (1) Warrant of each series for every thirty (30) shares of Common Stock held, rounded down to the nearest whole number. The scheduled expiration date of each series of the Warrants is expected to be on or about November 20, 2026, which may be automatically accelerated as specified in the warrant agreement (and the Company may elect a later alternate expiration date) for a particular series of the Warrants if, within any period of thirty (30) consecutive trading days after the Distribution Date, there are at least twenty (20) trading days (whether or not consecutive) on which the daily volume\u2011weighted average price of the Common Stock exceeds the applicable early expiration trigger price for such series of the Warrants. The early expiration trigger price for a series of the Warrants is expected to be initially equal to 120% of the exercise price of such series of the Warrants, subject to adjustment in accordance with the warrant agreement. The Warrants are expected to have an exercise price of $9.00 per Series K Warrant, $13.00 per Series A Warrant and $17.00 per Series Z Warrant. We intend to apply for the Warrants to be listed on the Nasdaq Stock Market, subject to Nasdaq approval, to facilitate trading, which may begin under ticker symbols OPENW, OPENL, and OPENZ for the Series K Warrants, Series A Warrants and Series Z Warrants, respectively, on the first trading day following the Distribution Date. The Warrants are expected to be initially exercisable only by paying the exercise price in cash, subject to the Company\u2019s ability to change the exercise method to net exercise as provided in the warrant agreement. In lieu of an adjustment to the conversion rate, holders of the Company\u2019s 7.000% Convertible Senior Notes due 2030 (the \u201c2030 Convertible Notes\u201d) as of the Record Date will also receive, at the same time and on the same terms as holders of Common Stock, Warrants, without having to convert such holder\u2019s 2030 Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the 2030 Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of 2030 Convertible Notes held by such holder on the Record Date. The Company expects to adjust the conversion rate for the Company\u2019s 0.25% Convertible Senior Notes due 2026 in accordance with the terms of the governing indenture for such notes in connection with the Warrant Distribution." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b25", + "block_sequence": 25, + "block_sha256": "708519484451bdce1d78c0e28dd9ed2c4ee0b78b975838c72da8bcfc7cd38168", + "block_type": "heading", + "char_count": 59, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 25, + "char_end": 59, + "char_start": 0, + "fragment_sha256": "67caf2b0c21a9e937559a0980b23419d9844e58ba2b88d743261e718b51babfd", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution", + "Registered Direct Offering and Convertible Notes Repurchase" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s15", + "table": null, + "text": "Registered Direct Offering and Convertible Notes Repurchase" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b26", + "block_sequence": 26, + "block_sha256": "cb3215143d641315272cb24fc8e1a784e36f31f79a050153a9496572ef563b53", + "block_type": "paragraph", + "char_count": 3259, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 26, + "char_end": 3259, + "char_start": 0, + "fragment_sha256": "564916db7fa9a90f6882abc66a61345281237bcf1e1d6271e773fed2758e238d", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution", + "Registered Direct Offering and Convertible Notes Repurchase" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s15", + "table": null, + "text": "On November 6, 2025, the Company entered into share purchase agreements (each, a \u201cShare Purchase Agreement\u201d) with a limited number of purchasers named therein (together, the \u201cPurchasers\u201d), providing for the issuance and sale by the Company of an aggregate of 180,580,200 shares of the Common Stock at a price of $6.56 per share. The shares of Common Stock were offered pursuant to the Company\u2019s effective shelf registration statement on Form S-3 (File No. 333-279080) (the \u201cRegistration Statement\u201d) and a related prospectus supplement (the \u201cRegistered Direct Offering\u201d). Concurrently with the Registered Direct Offering, the Company entered into separate, privately negotiated transactions with the Purchasers, pursuant to which the Company agreed to repurchase and such Purchasers agreed to sell to the Company an aggregate of approximately $264 million principal amount of the 2030 Convertible Notes for an aggregate repurchase price of approximately $1.2 billion, which the Company will repurchase using the net proceeds from the Registered Direct Offering (the \u201cConvertible Notes Repurchase\u201d). On a net basis, the Company will not receive any proceeds from these transactions and will pay customary fees and expenses in connection therewith. As a result, the Company does not expect that the Registered Direct Offering, after giving effect to the Convertible Notes Repurchase, will have a material impact on its cash position. In connection with the Convertible Notes Repurchase, the Purchasers may purchase or sell shares of Common Stock in the open market or enter into or unwind various derivative transactions with respect to the Common Stock to unwind any hedge positions they may have with respect to the 2030 Convertible Notes or to hedge or unwind their exposure in connection with these transactions. The number of shares of Common Stock to be sold or purchased by such holders or the notional number of shares of Common Stock underlying such derivative transactions may be substantial in relation to the historic average daily trading volume of the Common Stock. These activities may adversely affect the trading price of the Common Stock. The Company cannot predict the magnitude of such market activities or the overall effect they will have on the price of the Common Stock. The Registered Direct Offering and the Convertible Notes Repurchase are expected to close on November 13, 2025, subject to customary closing conditions. This Registered Direct Offering and the Convertible Notes Repurchase are cross-conditional. Each Share Purchase Agreement contains customary representations, warranties, covenants, indemnification obligations of the Company and the Purchasers and other obligations of the parties. The representations, warranties and covenants contained therein were made only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties thereto, and may be subject to limitations agreed upon by the contracting parties. The foregoing description of such Share Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text thereof, which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated by reference herein." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b27", + "block_sequence": 27, + "block_sha256": "3adb8d40de63876c70840a64990fc0c3ae45f7c1a7646e7a820a672d398453f6", + "block_type": "heading", + "char_count": 24, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 27, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "0cd719ca3f82712292ad0ebe23d2418152e856f3783e71c875b110710fb7cf23", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution", + "No Offer or Solicitation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s16", + "table": null, + "text": "No Offer or Solicitation" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b28", + "block_sequence": 28, + "block_sha256": "dd468f6ba3b7f3ba6ccd75487dcb21229e466e1dae61be1149ef2c83c6c177f1", + "block_type": "paragraph", + "char_count": 1036, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 28, + "char_end": 1036, + "char_start": 0, + "fragment_sha256": "bb1dd7aa876858ae07eb6ad9235cc508baabd0051cdfeb9b1d0a78a82dffe9a6", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution", + "No Offer or Solicitation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s16", + "table": null, + "text": "This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants will be filed with the Securities and Exchange Commission (the \u201cSEC\u201d) and will be available on the SEC\u2019s website located at http://www.sec.gov. Holders of Common Stock and the 2030 Convertible Notes should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b29", + "block_sequence": 29, + "block_sha256": "1d8469bf9c663edb3c938b337e8eb7b6386c9f6dc8633427fe813d5f0ad02182", + "block_type": "heading", + "char_count": 26, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 29, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "717e8c3c97c7a47002f4ad3ed9967e2578d3411128ac98fb732930c0d994b412", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s17", + "table": null, + "text": "Forward Looking Statements" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b30", + "block_sequence": 30, + "block_sha256": "2242d46b36bfec63fe708d8694606a3cfada54fa5eaf64942733ec8bcbb6dd4d", + "block_type": "paragraph", + "char_count": 2713, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", + "block_sequence": 30, + "char_end": 2713, + "char_start": 0, + "fragment_sha256": "89bd195f4d0bfb52cb28b36c3140658782cd75a70ba5813d91f2397a220b20d6", + "heading_path": [ + "N/A", + "Item 8.01 Other Events.", + "Warrant Dividend Distribution", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s17", + "table": null, + "text": "This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Registered Direct Offering, the Convertible Notes Repurchase and the anticipated Warrant Distribution, including: the Company\u2019s expectations regarding the Warrant Distribution; the anticipated Record Date, distribution date and expiration date for the Warrants; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; and the price of the Warrants and the existence of a market for the Warrants. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in the Company\u2019s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company\u2019s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b21"], "char_count": 1103, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9592a5014cd499be45f93cf3c965dd308a3277781e5c6f28c01b58fb5b88654d", "derivation_id": "cef51b14cea8bfe882ebee8548d8bbf28d810109d68993db75dc6f7571b2555e", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure."], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "block_sequence": 21, "char_end": 1103, "char_start": 0, "fragment_sha256": "728998d237db26df9983924cb9e9412d767525d6d86bb841a7759e40f03fa59c", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s12", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_8k.htm", "table_id": null, "text": "On November 6, 2025, Opendoor Technologies Inc. (the “Company”) issued a press release announcing that the Board of Directors of the Company declared a warrant dividend distribution (the “Warrant Distribution”), a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K. In connection with this press release, the Company will make available a document containing questions and answers (the “FAQ”) regarding the Warrant Distribution on the Company’s Investor Relations website. The FAQ is attached as Exhibit 99.2 to this Current Report on Form 8-K. The information furnished in Item 7.01 of this Current Report on Form 8-K (including Exhibits 99.1 and 99.2 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b24"], "char_count": 3109, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8e8be5334156f5f9ce57dcb5e48791ebec992f934b6a300631df9c5af2132ea8", "derivation_id": "cef51b14cea8bfe882ebee8548d8bbf28d810109d68993db75dc6f7571b2555e", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "block_sequence": 24, "char_end": 3109, "char_start": 0, "fragment_sha256": "0e700d50168872fdf5d1a738b7c3ac233b8ebc231ea2b162b36f22afde0f334c", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s14", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_8k.htm", "table_id": null, "text": "On November 6, 2025, the Company announced the Warrant Distribution to the record holders of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), in the form of warrants to purchase Common Stock (each, a “Warrant”, and collectively, the “Warrants”). The Warrants will be distributed on or around November 21, 2025 (the “Distribution Date”) to the record holders of Common Stock as of the close of business on November 18, 2025 (the “Record Date”). Each registered holder of Common Stock on the Record Date will receive three (3) series of Warrants—Series K, Series A, and Series Z—one (1) Warrant of each series for every thirty (30) shares of Common Stock held, rounded down to the nearest whole number. The scheduled expiration date of each series of the Warrants is expected to be on or about November 20, 2026, which may be automatically accelerated as specified in the warrant agreement (and the Company may elect a later alternate expiration date) for a particular series of the Warrants if, within any period of thirty (30) consecutive trading days after the Distribution Date, there are at least twenty (20) trading days (whether or not consecutive) on which the daily volume‑weighted average price of the Common Stock exceeds the applicable early expiration trigger price for such series of the Warrants. The early expiration trigger price for a series of the Warrants is expected to be initially equal to 120% of the exercise price of such series of the Warrants, subject to adjustment in accordance with the warrant agreement. The Warrants are expected to have an exercise price of $9.00 per Series K Warrant, $13.00 per Series A Warrant and $17.00 per Series Z Warrant. We intend to apply for the Warrants to be listed on the Nasdaq Stock Market, subject to Nasdaq approval, to facilitate trading, which may begin under ticker symbols OPENW, OPENL, and OPENZ for the Series K Warrants, Series A Warrants and Series Z Warrants, respectively, on the first trading day following the Distribution Date. The Warrants are expected to be initially exercisable only by paying the exercise price in cash, subject to the Company’s ability to change the exercise method to net exercise as provided in the warrant agreement. In lieu of an adjustment to the conversion rate, holders of the Company’s 7.000% Convertible Senior Notes due 2030 (the “2030 Convertible Notes”) as of the Record Date will also receive, at the same time and on the same terms as holders of Common Stock, Warrants, without having to convert such holder’s 2030 Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the 2030 Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of 2030 Convertible Notes held by such holder on the Record Date. The Company expects to adjust the conversion rate for the Company’s 0.25% Convertible Senior Notes due 2026 in accordance with the terms of the governing indenture for such notes in connection with the Warrant Distribution."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b26"], "char_count": 3259, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cb3215143d641315272cb24fc8e1a784e36f31f79a050153a9496572ef563b53", "derivation_id": "cef51b14cea8bfe882ebee8548d8bbf28d810109d68993db75dc6f7571b2555e", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution", "Registered Direct Offering and Convertible Notes Repurchase"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "block_sequence": 26, "char_end": 3259, "char_start": 0, "fragment_sha256": "564916db7fa9a90f6882abc66a61345281237bcf1e1d6271e773fed2758e238d", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution", "Registered Direct Offering and Convertible Notes Repurchase"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_8k.htm", "table_id": null, "text": "On November 6, 2025, the Company entered into share purchase agreements (each, a “Share Purchase Agreement”) with a limited number of purchasers named therein (together, the “Purchasers”), providing for the issuance and sale by the Company of an aggregate of 180,580,200 shares of the Common Stock at a price of $6.56 per share. The shares of Common Stock were offered pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-279080) (the “Registration Statement”) and a related prospectus supplement (the “Registered Direct Offering”). Concurrently with the Registered Direct Offering, the Company entered into separate, privately negotiated transactions with the Purchasers, pursuant to which the Company agreed to repurchase and such Purchasers agreed to sell to the Company an aggregate of approximately $264 million principal amount of the 2030 Convertible Notes for an aggregate repurchase price of approximately $1.2 billion, which the Company will repurchase using the net proceeds from the Registered Direct Offering (the “Convertible Notes Repurchase”). On a net basis, the Company will not receive any proceeds from these transactions and will pay customary fees and expenses in connection therewith. As a result, the Company does not expect that the Registered Direct Offering, after giving effect to the Convertible Notes Repurchase, will have a material impact on its cash position. In connection with the Convertible Notes Repurchase, the Purchasers may purchase or sell shares of Common Stock in the open market or enter into or unwind various derivative transactions with respect to the Common Stock to unwind any hedge positions they may have with respect to the 2030 Convertible Notes or to hedge or unwind their exposure in connection with these transactions. The number of shares of Common Stock to be sold or purchased by such holders or the notional number of shares of Common Stock underlying such derivative transactions may be substantial in relation to the historic average daily trading volume of the Common Stock. These activities may adversely affect the trading price of the Common Stock. The Company cannot predict the magnitude of such market activities or the overall effect they will have on the price of the Common Stock. The Registered Direct Offering and the Convertible Notes Repurchase are expected to close on November 13, 2025, subject to customary closing conditions. This Registered Direct Offering and the Convertible Notes Repurchase are cross-conditional. Each Share Purchase Agreement contains customary representations, warranties, covenants, indemnification obligations of the Company and the Purchasers and other obligations of the parties. The representations, warranties and covenants contained therein were made only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties thereto, and may be subject to limitations agreed upon by the contracting parties. The foregoing description of such Share Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text thereof, which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated by reference herein."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b28"], "char_count": 1036, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dd468f6ba3b7f3ba6ccd75487dcb21229e466e1dae61be1149ef2c83c6c177f1", "derivation_id": "cef51b14cea8bfe882ebee8548d8bbf28d810109d68993db75dc6f7571b2555e", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution", "No Offer or Solicitation"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "block_sequence": 28, "char_end": 1036, "char_start": 0, "fragment_sha256": "bb1dd7aa876858ae07eb6ad9235cc508baabd0051cdfeb9b1d0a78a82dffe9a6", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution", "No Offer or Solicitation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s16", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_8k.htm", "table_id": null, "text": "This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants will be filed with the Securities and Exchange Commission (the “SEC”) and will be available on the SEC’s website located at http://www.sec.gov. Holders of Common Stock and the 2030 Convertible Notes should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b30"], "char_count": 2713, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2242d46b36bfec63fe708d8694606a3cfada54fa5eaf64942733ec8bcbb6dd4d", "derivation_id": "cef51b14cea8bfe882ebee8548d8bbf28d810109d68993db75dc6f7571b2555e", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution", "Forward Looking Statements"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "block_sequence": 30, "char_end": 2713, "char_start": 0, "fragment_sha256": "89bd195f4d0bfb52cb28b36c3140658782cd75a70ba5813d91f2397a220b20d6", "heading_path": ["N/A", "Item 8.01 Other Events.", "Warrant Dividend Distribution", "Forward Looking Statements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_8k.htm", "table_id": null, "text": "This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Registered Direct Offering, the Convertible Notes Repurchase and the anticipated Warrant Distribution, including: the Company’s expectations regarding the Warrant Distribution; the anticipated Record Date, distribution date and expiration date for the Warrants; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; and the price of the Warrants and the existence of a market for the Warrants. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company’s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm#b32"], "char_count": 13, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "daa054f78f95872d0d1b76cf4c4e6c3080a91094b79f7ff8db174b7b15f0d211", "derivation_id": "cef51b14cea8bfe882ebee8548d8bbf28d810109d68993db75dc6f7571b2555e", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["N/A", "Item 9.01 Financial Statements and Exhibits."], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_8k.htm", "block_sequence": 32, "char_end": 13, "char_start": 0, "fragment_sha256": 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Document created using Broadridge PROfile 25.10.1.5333 Copyright 1995 - 2025 Broadridge" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b5", + "block_sequence": 5, + "block_sha256": "9d37bd08e635e73bdc57417c637a83e55b0532958e8dbca8d1a126543acb69b6", + "block_type": "heading", + "char_count": 12, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 5, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "74cbf6d06ea615be189ad9bd125bae13fdcb9681d9d22f6d7478bb1dade85b53", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s3", + "table": null, + "text": "Exhibit 10.1" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b6", + "block_sequence": 6, + "block_sha256": "ae72817fbf8752aea3abb89bc8c3919562d5ba9f36e6fd46cb9a1a7f55324814", + "block_type": "heading", + "char_count": 24, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 6, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "3188553d3aa89557e1be67e53c4d3fa9a9cd246eafb62dfb45cf7538d67bb646", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "SHARE PURCHASE AGREEMENT" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7", + "block_sequence": 7, + "block_sha256": "ce756a5f9f5af9930e9e178cc6ded58d25357e2c21dc33a1e6c61ecb91cad441", + "block_type": "paragraph", + "char_count": 30477, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 7, + "char_end": 30477, + "char_start": 0, + "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "This Share Purchase Agreement (this \u201cAgreement\u201d) is made and entered into as of November 6, 2025 by and among Opendoor Technologies Inc., a Delaware corporation (the \u201cCompany\u201d), and each of the entities (each, a \u201cPurchaser\u201d and, collectively, the \u201cPurchasers\u201d) listed on Schedules \u201cA\u201d attached to this Agreement (collectively, \u201cSchedule A\u201d; the Schedule A pertaining to each individual Purchaser is referred to herein as the \u201capplicable Schedule A\u201d, and the accounts, if any, on behalf of which any Purchaser may be acting, as specified on the applicable Schedule A, for whom the Purchaser holds contractual and investment authority, are referred to herein as the \u201cRepresented Accounts\u201d). The Company and the Purchasers are sometimes collectively referred to in this Agreement as the \u201cParties\u201d and individually as a \u201cParty\u201d. WHEREAS, the Company has authorized the sale and issuance of shares of its common stock, par value $0.0001 per share (the \u201cCommon Stock\u201d), on the terms and subject to the conditions set forth in this Agreement and the Registration Statement (as defined below). The shares of Common Stock to be sold hereunder at the Closing (as defined below) shall be referred to herein as the \u201cShares\u201d; WHEREAS, each Purchaser for its own account or on behalf of a Represented Account, severally, wishes to purchase Shares in the amounts and for the cash payment (the \u201cCash Payment\u201d) set forth on such Purchaser\u2019s applicable Schedule A upon the terms and conditions set forth in this Agreement and the Registration Statement; and WHEREAS, the Company wishes to issue and sell to each Purchaser, for its account or its Represented Account, the Shares set forth on such Purchaser\u2019s applicable Schedule A for the Cash Payment set forth therein, upon the terms and conditions set forth in this Agreement and the Registration Statement. NOW, THEREFORE, in consideration of the mutual covenants, agreements and understandings herein contained, the Parties agree as follows: SECTION 1. Sale and Registration of the Shares. 1.1 The Sale. Subject to the terms and conditions set forth in this Agreement, on the Closing Date (as defined below), the Company shall sell to each Purchaser, severally, and each Purchaser hereby agrees, severally, to purchase from the Company on the Closing Date (as defined below) for its own account or on behalf of a Represented Account, the number of Shares set forth on such Purchaser\u2019s applicable Schedule A at a purchase price per Share equal to the closing price of the Common Stock as reported by NASDAQ (as defined below) on November 6, 2025. The aggregate Cash Payment for the Shares purchased by each Purchaser is set forth on such Purchaser\u2019s applicable Schedule A. For the avoidance of doubt, other Purchasers have entered into substantially similar agreements with the Company on the date hereof to acquire Shares and it is understood that none of any Purchaser\u2019s purchases of its allocable Shares hereunder shall be dependent upon any other Purchasers\u2019 purchases of their respective allocable Shares under such other agreements. PROfilePageNumberReset%Num%2%%% 1.2 Announcement of the Purchase. The Company shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date hereof, issue one or more press releases or file with the Securities and Exchange Commission (the \u201cCommission\u201d) a Current Report on Form 8-K and/or a Quarterly Report on Form 10-Q (collectively, the \u201cDisclosure Document\u201d) disclosing, to the extent not previously publicly disclosed, all material terms of the transactions contemplated hereby and by the Note Purchase Agreement (as defined below) (the \u201cTransaction\u201d), and any other material, nonpublic information that the Company or any Agent (as defined below) or any of their respective officers, directors or employees has provided to the Purchasers at any time prior to the filing of the Disclosure Document. Immediately following the issuance or filing, as applicable, of the Disclosure Document, to the Company\u2019s knowledge, the Purchasers will not be in possession of any material, non-public information received from the Company or any Agent or any of their respective officers, directors, or employees. Notwithstanding the foregoing, the Company shall not publicly disclose the name of the Purchaser, any of its Represented Accounts, or their respective affiliates and investment advisors, or include the name of the Purchaser, any of its Represented Accounts, or their respective affiliates and investment advisors in any press release or in any filing with the Commission or any regulatory agency or trading market, without the prior written consent of the Purchaser, except as required by any applicable law, rule or regulation, including any listing exchange, or to the extent requested by the Staff of the Commission, any representative of the NASDAQ Global Select Market (\u201cNASDAQ\u201d) or any other regulatory agency, in which case the Company shall, to the extent practicable, provide the Purchaser with prior written notice of such disclosure. 1.3 Closing. The closing of the transactions contemplated hereunder with respect to a Purchaser (the \u201cClosing\u201d) will take place on November 13, 2025, or such other date, if any, as is mutually agreed to by the Parties (the \u201cClosing Date\u201d). Under Rule 15c6-1 of the Exchange Act (as defined below), trades in the secondary market generally are required to settle in one business day unless the parties to a trade expressly agree otherwise. Accordingly, Purchasers who wish to trade Shares on the date hereof or on any subsequent date that is prior to the trading day preceding the Closing Date, by virtue of the fact that the Shares initially will settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement. On the Closing Date, and subject to the conditions contained in this Section 1.3: (a) each Purchaser shall (i) submit, through the Depository Trust Company (\u201cDTC\u2019s\u201d) Deposit and Withdrawal at Custodian (\u201cDWAC\u201d) program, a deposit instruction to Equiniti Trust Company, LLC, acting as transfer agent and DTC custodian for the Common Stock (the \u201cTransfer Agent\u201d), for the applicable number of Shares, (ii) deliver to the Company the applicable Cash Payment by wire transfer of immediately available funds to the account of the Company set forth on Exhibit A or as otherwise advised by the Company to such Purchaser prior to the Closing and (iii) comply with the Instructions and Purchase Procedures attached hereto as Exhibit B; (b) the Company will deliver to each Purchaser or Represented Account the number of Shares set forth on such Purchaser\u2019s applicable Schedule A via book-entry delivery pursuant to DWAC instructions specified on the applicable Schedule A, with any transfer taxes payable in connection with the delivery of Shares duly paid by the Company; (c) as a condition to Closing, (i) all conditions to the consummation of the transactions under that certain Note Purchase Agreement dated as of the date hereof among the Company and the noteholders party thereto (the \u201cNote Purchase Agreement\u201d) with respect to an applicable Purchaser shall have been satisfied and the closing of such transactions with respect to such applicable Purchaser shall have occurred (or shall occur substantially simultaneously with the Closing hereunder) and no Shares will be delivered until both a valid DWAC deposit instruction for the Shares has been received by the Transfer Agent and the Cash Payment by wire transfer of immediately available funds pursuant to Section 1.3(a) has been received by the Company; (ii) all of the representations and warranties of the Company in Section 2 hereof shall be true and correct as of the Closing Date and the Company shall have complied with all its agreements contained herein; and (iii) all of the representations and warranties of the Purchaser in Section 3 hereof shall be true and correct as of the Closing Date and the Purchaser shall have complied with all its agreements contained herein; and (d) the Shares to be delivered on the Closing Date shall have been approved for listing on NASDAQ, subject to official notice of issuance. 1.4 Registration of the Shares. The Company has registered the sale of the Shares pursuant to the Company\u2019s Registration Statement on Form S-3 (File No. 333-279080) filed with the Commission on May 2, 2024 (such registration statement, including the base prospectus contained therein, as supplemented by the prospectus supplement relating to the offer and sale of the Shares, dated November 6, 2025, is referred to herein as the \u201cRegistration Statement\u201d). SECTION 2. Representations and Warranties of the Company. The Company hereby represents and warrants to each Purchaser that: 2.1 Organization. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 2.2 Authorization. The Company has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken. This Agreement has been duly authorized, executed and delivered by the Company and, assuming due execution and delivery by the Purchaser, constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, fraudulent conveyance, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting rights or remedies of creditors generally; and (ii) the application of general principles of equity. 2.3 Validity and Registration of Shares. The Shares to be issued and sold hereunder have been duly authorized by the Company and, when issued and delivered and paid for as provided herein, will be duly and validly issued, will be issued as part of CUSIP 683712103, will be fully paid and nonassessable and will conform in all material respects to the descriptions thereof in the Registration Statement and the issuance of the Shares is not subject to any preemptive or similar rights. The sale of the Shares to be issued and sold to the Purchasers on the Closing Date pursuant to this Agreement will have been registered under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), pursuant to the Registration Statement, and book entries representing such Shares will not contain a restrictive legend. 2.4 SEC Filings. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the Commission under Sections 13, 14(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), in the two years preceding the date hereof on a timely basis, except where the failure to file on a timely basis would not reasonably be expected to affect the Company\u2019s ability to sell and issue the Shares and to carry out and perform all of its obligations under this Agreement. As of their respective filing dates (or, if amended prior to the date of this Agreement, when amended), such documents filed with the SEC pursuant to the Exchange Act (the \u201cSEC Documents\u201d) complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the Commission promulgated thereunder. The Company is eligible to register its Common Stock for sale using Form S-3 promulgated under the Securities Act. The Company has made available to each Purchaser or their representatives, or each Purchaser has had access through the Commission\u2019s EDGAR website to, true and complete copies of the SEC Documents. No stop order suspending the effectiveness of the Registration Statement has been issued under the Securities Act and no proceedings for that purpose have been instituted or are pending or, to the Company\u2019s knowledge, are threatened by the Commission. 2.5 Compliance with NASDAQ Listing Requirements. The Shares have been approved for listing on NASDAQ, subject to notice of issuance. 2.6 Non-Contravention. The execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Shares and the consummation by the Company of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination of any right or asset of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property, right or assets of the Company or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority applicable to the Company, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, termination that, would not, individually or in the aggregate, have a material adverse effect on the business, properties, management, financial position or results of operations of the Company and its subsidiaries taken as a whole or materially impair the ability of the Company to perform its obligations under this Agreement (a \u201cMaterial Adverse Effect\u201d). 2.7 No Consents or Approvals. No consent, filing, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Shares and the consummation by the Company of the transactions contemplated by this Agreement, except for (i) such as have been, or prior to the Closing Date, will be, obtained or made, (ii) the registration of the Shares under the Securities Act and those that may be required under the Exchange Act, applicable state securities laws, or by NASDAQ or the Financial Industry Regulatory Authority, Inc., and (iii) those that, if not obtained or made, would not, individually or in the aggregate, have a Material Adverse Effect. SECTION 3. Representations and Warranties of the Purchasers. Each Purchaser, severally with respect to itself and its Represented Accounts (if any) and not jointly with other Purchasers, hereby represents and warrants to the Company that the following statements are true and correct as of the date of this Agreement: 3.1 Organization. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. 3.2 Authorization. Such Purchaser has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken. This Agreement has been duly authorized, executed and delivered by the Purchaser and constitutes a valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting creditors\u2019 rights generally and by general equitable principles. 3.3 Investment. (a) Such Purchaser is knowledgeable, sophisticated and experienced in business and financial matters and has previously invested in securities similar to the Shares. Such Purchaser is able to bear the economic risk of its investment in the Shares and is presently able to afford the complete loss of such investment and has been afforded access to information about the Company and its affiliates and their financial condition, results of operations, business, property and management sufficient to enable such Purchaser to evaluate its investment in the Shares. Such Purchaser and Represented Account for which it is acting are each an \u201caccredited investor\u201d as defined in Rule 501(a) under the Securities Act and it and any Represented Account for which it is acting are each a \u201cqualified institutional buyer\u201d as defined in Rule 144A under the Securities Act. (b) Such Purchaser (i) has received a copy of the Registration Statement, (ii) understands and accepts that the Shares to be acquired pursuant to this Agreement involve risk, including those described or incorporated by reference in the Registration Statement and (iii) has made an independent decision to purchase the Shares based on the information available to such Purchaser. Such Purchaser acknowledges that it has independently made its own analysis and decision to purchase the Shares and without reliance upon the Company or any of its agents or financial advisors (an \u201cAgent\u201d) and based on such information as it has deemed appropriate in its independent judgment. Such Purchaser has not relied on any information (in any form, whether written or oral, including any representation or warranty of the Company) furnished by the Company or its affiliates, any Agent or on the Company\u2019s behalf in making that decision (other than, with respect to the Company, filings made by the Company with the Commission and the information set forth on Schedule B hereto). Such Purchaser further acknowledges that (i) such Purchaser had a sufficient amount of time to consider whether to participate in the Transaction and that neither the Company nor any Agent has placed any pressure on it to respond to the opportunity to participate in the Transaction, (ii) the terms of the Transaction are the result of bilateral negotiations between the parties, and such Purchaser was given a meaningful opportunity to negotiate the terms of the Transaction, (iii) it has consulted its own tax and legal advisors and (iv) it has not relied on the Company or its affiliates or any Agent or the Company\u2019s representatives for any tax advice related to the Transaction. (c) The Purchaser acknowledges the Company intends to pay a fee to any Agent in connection with the Transaction. (d) Neither the Company, any Agent nor their respective affiliates, officers, employees, agents or controlling persons have provided any investment advice or rendered any opinion to such Purchaser as to whether the purchase of the Shares is prudent or suitable. 3.4 Non-Contravention. The execution, delivery and performance by the Purchaser of this Agreement, the purchase of the Shares and the consummation by the Purchaser of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination of any right or asset of the Purchaser or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Purchaser or any of its subsidiaries is a party or by which the Purchaser or any of its subsidiaries is bound or to which any of the property, right or assets of the Purchaser or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Purchaser or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority applicable to the Purchaser that, would, individually or in the aggregate, have, or would reasonably be expected to have, a material adverse effect on the ability of such Purchaser to carry out its obligations hereunder. 3.5 Compliance with Laws. Each Purchaser will comply with all applicable laws and regulations in effect in any jurisdiction in which the Purchaser purchases (or acquires pursuant to the transaction described herein or sells) Shares and will obtain any consent, approval or permission required for such purchases, acquisitions or sales under the laws and regulations of any jurisdiction to which the Purchaser is subject or in which the Purchaser makes such purchases, acquisitions or sales, and the Company shall have no responsibility therefor. The operations of the Purchaser have been conducted in material compliance with the rules and regulations administered or conducted by the U.S. Department of Treasury Office of Foreign Assets Control (\u201cOFAC\u201d) applicable to the Purchaser. The Purchaser has performed due diligence necessary to reasonably determine that its beneficial owners are not named on the lists of denied parties or blocked persons administered by OFAC, resident in or organized under the laws of a country that is the subject of comprehensive economic sanctions and embargoes administered or conducted by OFAC (\u201cSanctions\u201d), or otherwise the subject of Sanctions. 3.6 No Guarantees. Each Purchaser confirms that neither the Company nor any Agent has (A) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial accounting or otherwise) of an investment in the Shares or (B) made any representation to such Purchaser regarding the legality of an investment in the Shares under applicable investment guidelines, laws or regulations. 3.7 No Brokers or Finders. None of such Purchaser nor any of its officers or directors or persons serving in a similar capacity has retained or authorized any agent, investment banker, financial advisor, broker, finder or other intermediary to act on behalf of such Purchaser or incurred any liability for any agent\u2019s, banker\u2019s, financial advisor\u2019s, broker\u2019s or finder\u2019s fees or commissions in connection with the transactions contemplated by this Agreement. 3.8 Other Transactions. The Purchaser acknowledges and agrees that it has not transacted, and will not transact, in any securities of the Company, including, but not limited to, any hedging transactions, (other than any sale to the Company of the Company\u2019s 7.000% Convertible Senior Notes due 2030 held by the Purchaser (the \u201cNotes\u201d)) from the time the Purchaser was first contacted by the Company or any Agent with respect to the Transaction until after the confidential information (as described in the confirmatory email received by the Purchaser from any Agent (the \u201cWall Cross Email\u201d)) is made public or the Purchaser\u2019s confidentiality obligations described in the Wall Cross Email have expired. 3.9 Affiliate Status. The Purchaser is not directly, or indirectly through one or more intermediaries, controlling or controlled by, or under direct or indirect common control with, the Company and is not, and has not been for the immediately preceding three months, an \u201caffiliate\u201d (within the meaning of Rule 144 under the Securities Act) (an \u201cAffiliate\u201d) of the Company. The Purchaser and its Affiliates collectively beneficially own and will beneficially own as of the Closing Date (but without giving effect to the Transaction) (i) less than 5% of the outstanding common stock of the Company and (ii) less than 5% of the aggregate number of votes that may be cast by holders of those outstanding securities of the Company that entitle the holders thereof to vote generally on all matters submitted to the Company\u2019s stockholders for a vote (the \u201cVoting Power\u201d). Immediately after the receipt by the Purchaser of Shares in the Transaction, the aggregate number of shares of common stock owned by the Purchaser and its Affiliates, together with the aggregate number of shares equal to the notional value of any \u201clong\u201d derivative transaction relating to such common stock to which the Purchaser or its Affiliate is a party (excluding derivative transactions relating to broad-based indices and any interest in the Notes), will not exceed 4.9% of the outstanding common stock. The Purchaser is not and will not be as of the Closing Date, a subsidiary, Affiliate or, to its knowledge, otherwise closely related to any director or officer of the Company or beneficial owner of 5% or more of the outstanding common stock or Voting Power (each such director, officer or beneficial owner, a \u201cRelated Party\u201d) and, to the Purchaser\u2019s knowledge, no Related Party beneficially owns or as of the Closing Date shall beneficially own 5% or more of the outstanding voting equity, or votes entitled to be cast by the outstanding voting equity, of the Purchaser. 3.10 Represented Accounts. If a Purchaser is acting on behalf of a Represented Account hereunder, such Purchaser has (i) sole investment discretion with respect to each such Represented Account, (ii) full power to make the foregoing representations, warranties and covenants on behalf of such Represented Account and (iii) the contractual authority to enter into this Agreement and to carry out the transactions contemplated hereby with respect to such Represented Account. 3.11 Qualified Institutional Buyer. Such Purchaser is (i) a qualified institutional buyer (as defined in Rule 144A under the Securities Act) and (ii) an accredited investor (as defined in Rule 501 of Regulation D under the Securities Act) and, in the case of (ii), either (x) an institutional account as defined in FINRA Rule 4512(c) or (y) a qualified purchaser, as defined in Section 2(a)(51)(A) of the Investment Company Act, as amended. Accordingly, such Purchaser acknowledges that the Transaction meets the exemptions from filing under FINRA Rules 5123(b)(1)(A), (B), (C) or (J). SECTION 4. Termination. 4.1 Conditions of Termination. Notwithstanding anything to the contrary contained herein, with respect to any individual Purchaser, this Agreement may be terminated (a) at any time before the Closing by mutual written agreement of the Company and the respective Purchaser, (b) by either Party if (i) the Closing shall not have occurred on or before November 26, 2025 or (ii) any governmental authority of competent jurisdiction shall have issued or entered any governmental order or taken any other action permanently restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated herein. 4.2 Effect of Termination. In the event of termination pursuant to Section 4.1 hereof, this Agreement shall become null and void with respect to any individual Purchaser and have no effect (other than this Section 4.2 and Section 5, which shall survive termination) with no liability on the part of the Company or the respective Purchaser, or their directors, officers, agents or stockholders, with respect to this Agreement, except for the liability of any willful or intentional breach of this Agreement. SECTION 5. Miscellaneous. 5.1 Further Assurances. In case at any time after the Closing any further action is necessary or desirable to carry out the purposes of this Agreement or the transactions contemplated hereby, each of the Parties will take such further action (including the execution and delivery of such further instruments and documents) as the other Party may reasonably request, at the requesting Party\u2019s expense. 5.2 Assignability. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by either the Company or a Purchaser without the prior written consent of the other party. 5.3 Counterparts. This Agreement may be executed simultaneously in counterparts (including by means of facsimile or other electronic transmission), any one of which need not contain the signatures of more than one Party, but all such counterparts taken together shall constitute one and the same agreement. The words \u201cexecution,\u201d \u201csigned,\u201d \u201csignature\u201d and words of like import in this Agreement or in any other certificate, agreement or document related to this Agreement shall include images of manually executed signatures transmitted by email or other electronic format (including, without limitation, \u201cpdf,\u201d \u201ctif\u201d or \u201cjpg\u201d) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the UCC. 5.4 Descriptive Headings; Interpretation. The headings and captions used in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Any capitalized terms used in Schedule A and not otherwise defined therein shall have the meanings set forth in this Agreement. The use of the word \u201cincluding\u201d herein shall mean \u201cincluding without limitation\u201d. The Parties intend that each representation, warranty and covenant contained herein shall have independent significance. 5.5 Entire Agreement. This Agreement and the agreements and documents referred to herein (including the Note Purchase Agreement) contain the entire agreement and understanding among the Parties with respect to the subject matter hereof and supersede all prior agreements and understandings, whether written or oral, relating to such subject matter in any way. 5.6 Amendment. This Agreement may be amended, modified, discharged, terminated or supplemented but only in writing (including a writing evidenced by a facsimile transmission or other electronic transmission) signed by the Party against which enforcement is sought. 5.7 Expenses. 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THIS AGREEMENT, AND ANY CLAIM, COUNTERCLAIM OR DISPUTE OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT, SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE PARTIES AGREE TO WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY DISPUTE ARISING FROM OR RELATED TO THIS AGREEMENT." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b16", + "block_sequence": 16, + "block_sha256": "2d856a65c2e4b928055f5e659c12ba2c396ef70751908bcc68b2d36f31cda29a", + "block_type": "paragraph", + "char_count": 3804, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 16, + "char_end": 3804, + "char_start": 0, + "fragment_sha256": "83b504f75cc1772c394d8bc1798dfbe69f669ee52a90c4bedf423c6d02d4ffd4", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "5.9 Submission to Jurisdiction. Each Party agrees that any suit, action or proceeding brought by it against the other Party arising out of or based upon this Agreement or the transactions contemplated hereby shall be instituted exclusively in federal court in The City of New York, New York, and waives any objection which it may now or hereafter have to the laying of venue of any such proceeding. Each Party agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and the Purchasers, as applicable, and may be enforced in any court to the jurisdiction of which the applicable Party, is subject by a suit upon such judgment. 5.10 Survival. All authority herein conferred or agreed to be conferred in this Agreement shall survive the dissolution of such Purchaser and any representation, warranty, undertaking and obligation of such Purchaser hereunder shall be binding upon the trustees in bankruptcy, legal representatives, successors and assigns of such Purchaser. 5.11 Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be sent to the Company and the Purchasers at the addresses set forth below: If to the Company: Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1600 Tempe, AZ 85288 Attention: Chief Financial Officer with a copy (which will not constitute notice) to: Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1600 Tempe, AZ 85288 Attention: Chief Legal Officer Email: legal@opendoor.com If to the Purchasers: To the address or addresses set forth on Schedule A 5.12 Notification of Changes. Each Purchaser hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the Closing Date that would cause any representation, warranty or covenant of such Purchaser contained in this Agreement to be false or incorrect. 5.13 No Construction Against Draftsperson. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. 5.14 Non-Reliance by Purchaser. Each Purchaser acknowledges that (i) it has not relied on any statement or information provided by any Agent concerning the Company or the Transaction in making its decision to purchase Shares, (ii) any Agent has not acted as a financial advisor or fiduciary with respect to the Purchaser and (iii) any Agent is not responsible for the accuracy, completeness or adequacy of any information supplied to the Purchaser by any Agent on behalf of the Company. 5.15 Reliance by Agent. Any Agent and its officers, directors, employees, agents and affiliates (collectively, \u201cAgent Parties\u201d) may rely on each representation and warranty of the Company and of each Purchaser made herein or pursuant to the terms hereof with the same force and effect as if such representation or warranty were made directly to the Agent Parties. The Agent Parties shall be a third-party beneficiary of this Agreement to the extent provided in this Section 5.15. Each Purchaser agrees that any Agent shall not have any liability (whether direct or indirect, in contract or tort or otherwise) to any Purchaser for or in connection with the Transaction, except for any such liability for losses, claims, damages or liabilities (or fees or expenses relating thereto) incurred by a Purchaser that are finally judicially determined to have resulted from the bad faith or gross negligence of any Agent." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b17", + "block_sequence": 17, + "block_sha256": "19581e27de7ced00ff1ce50b2047e7a567c76b1cbaebabe5ef03f7c3017bb5b7", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 17, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "fb47339aadced35e93c59ebd41204cfb5ee5d4425ad4d8fcbca17e760cedd496", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "9" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b18", + "block_sequence": 18, + "block_sha256": "99d4e134a9927f6064ea6100e719b5ea2a0f8ba574335341db1310d2df515203", + "block_type": "paragraph", + "char_count": 25, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 18, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "1ac562c88a9806655dfe93451beeb4cd602f44e6140733270a9aa499c4f077ef", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "(Signatures on next page)" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b19", + "block_sequence": 19, + "block_sha256": "4a44dc15364204a80fe80e9039455cc1608281820fe2b24f1e5233ade6af1dd5", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 19, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "4725a969bd6bc0e38f28d01161a8825d4f25136da74581aee91fcefebb889c9b", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "10" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b20", + "block_sequence": 20, + "block_sha256": "8b67e392f36890f8f003122a383f354628e439ae444e2ce2e26db89e97b8bfd9", + "block_type": "paragraph", + "char_count": 162, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 20, + "char_end": 162, + "char_start": 0, + "fragment_sha256": "ed148ec8088fe8871ce34ec06bfb4e8634ce588155f52a2b4f63b5946abb6560", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", + "table": null, + "text": "IN WITNESS WHEREOF, the Parties hereto have executed this Share Purchase Agreement as of the date first written above. OPENDOOR TECHNOLOGIES INC. By: Name: Title:" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b21", + "block_sequence": 21, + "block_sha256": "feacd3c2e77d1d0f49f0689ea3b52f28683bca557bb56d99a982f3c4221633b2", + "block_type": "heading", + "char_count": 44, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 21, + "char_end": 44, + "char_start": 0, + "fragment_sha256": "679630d746a443d6ea0d9014b941b58ebec74e0f121e7e2ba306a09a9a889ea6", + "heading_path": [ + "EXHIBIT 10.1", + "Exhibit 10.1", + "SHARE PURCHASE AGREEMENT", + "[Signature Page to Share Purchase Agreement]" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s5", + "table": null, + "text": "[Signature Page to Share Purchase Agreement]" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b22", + "block_sequence": 22, + 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"norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b36", + "block_sequence": 36, + "block_sha256": "42619f1e21741c8a45b358a826c51d924ac19fdb72fab363667a96e5a619bcf5", + "block_type": "paragraph", + "char_count": 2155, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", + "block_sequence": 36, + "char_end": 2155, + "char_start": 0, + "fragment_sha256": "d2cfad375c1cbb3f0432067cf8efb4cf61619c08bf6a937ae3c42da9c8fcc3ef", + "heading_path": [ + "SWIFT: [***]", + "EXHIBIT B", + "Instructions and Purchase Procedures" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s14", + "table": null, + "text": "Attached are Purchase Procedures for the purchase of common stock, par value $0.0001 per share, CUSIP 683712103 (the \u201cShares\u201d) of Opendoor Technologies Inc., a Delaware corporation (the \u201cCompany\u201d), for the Cash Payment (as defined in and pursuant to this Agreement between you and the Company), which is expected to occur on or about November 13, 2025. To ensure timely settlement, please follow the instructions as set forth below. These instructions supersede any prior instructions you received. Your failure to comply with the attached instructions may delay your receipt of the Shares. If you have any questions, please contact Edward Collins at [***]. To deliver Cash Payment: You must deliver to the Company the applicable Cash Payment by wire transfer of immediately available funds to the account of the Company. You should initiate the wire transfer no later than 9:00 a.m. New York City Time on November 13, 2025. Important: This note purchase is a separate transaction from the share purchase transaction that will be closed concurrently on November 13, 2025. For that reason, the Cash Payment payable by the Company for the Notes will not be netted against the cash consideration payable by you to the Company pursuant to the share purchase. However, the Company intends to use the proceeds from the share purchase to initiate the note repurchase payment. Accordingly, in order to ensure that both the share purchase and the note repurchase close on November 13, 2025, the Cash Payment should be sent as early as possible on November 13, 2025. To receive Shares: You must post, no later than 9:00 a.m. New York City time, a deposit request for the Shares through the DTC via DWAC. It is important that this instruction be submitted and the DWAC posted on November 13, 2025. 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Document created using Broadridge PROfile 25.10.1.5333 Copyright 1995 - 2025 Broadridge"} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 3918, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "57a00b3c5a531b1c808fe5eaf9ef0ea784bd55b5ed40dc9f15a7f03a5dd74a7f", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 3918, "char_start": 0, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "This Share Purchase Agreement (this “Agreement”) is made and entered into as of November 6, 2025 by and among Opendoor Technologies Inc., a Delaware corporation (the “Company”), and each of the entities (each, a “Purchaser” and, collectively, the “Purchasers”) listed on Schedules “A” attached to this Agreement (collectively, “Schedule A”; the Schedule A pertaining to each individual Purchaser is referred to herein as the “applicable Schedule A”, and the accounts, if any, on behalf of which any Purchaser may be acting, as specified on the applicable Schedule A, for whom the Purchaser holds contractual and investment authority, are referred to herein as the “Represented Accounts”). The Company and the Purchasers are sometimes collectively referred to in this Agreement as the “Parties” and individually as a “Party”. WHEREAS, the Company has authorized the sale and issuance of shares of its common stock, par value $0.0001 per share (the “Common Stock”), on the terms and subject to the conditions set forth in this Agreement and the Registration Statement (as defined below). The shares of Common Stock to be sold hereunder at the Closing (as defined below) shall be referred to herein as the “Shares”; WHEREAS, each Purchaser for its own account or on behalf of a Represented Account, severally, wishes to purchase Shares in the amounts and for the cash payment (the “Cash Payment”) set forth on such Purchaser’s applicable Schedule A upon the terms and conditions set forth in this Agreement and the Registration Statement; and WHEREAS, the Company wishes to issue and sell to each Purchaser, for its account or its Represented Account, the Shares set forth on such Purchaser’s applicable Schedule A for the Cash Payment set forth therein, upon the terms and conditions set forth in this Agreement and the Registration Statement. NOW, THEREFORE, in consideration of the mutual covenants, agreements and understandings herein contained, the Parties agree as follows: SECTION 1. Sale and Registration of the Shares. 1.1 The Sale. Subject to the terms and conditions set forth in this Agreement, on the Closing Date (as defined below), the Company shall sell to each Purchaser, severally, and each Purchaser hereby agrees, severally, to purchase from the Company on the Closing Date (as defined below) for its own account or on behalf of a Represented Account, the number of Shares set forth on such Purchaser’s applicable Schedule A at a purchase price per Share equal to the closing price of the Common Stock as reported by NASDAQ (as defined below) on November 6, 2025. The aggregate Cash Payment for the Shares purchased by each Purchaser is set forth on such Purchaser’s applicable Schedule A. For the avoidance of doubt, other Purchasers have entered into substantially similar agreements with the Company on the date hereof to acquire Shares and it is understood that none of any Purchaser’s purchases of its allocable Shares hereunder shall be dependent upon any other Purchasers’ purchases of their respective allocable Shares under such other agreements. PROfilePageNumberReset%Num%2%%% 1.2 Announcement of the Purchase. The Company shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date hereof, issue one or more press releases or file with the Securities and Exchange Commission (the “Commission”) a Current Report on Form 8-K and/or a Quarterly Report on Form 10-Q (collectively, the “Disclosure Document”) disclosing, to the extent not previously publicly disclosed, all material terms of the transactions contemplated hereby and by the Note Purchase Agreement (as defined below) (the “Transaction”), and any other material, nonpublic information that the Company or any Agent (as defined below) or any of their respective officers, directors or employees has provided to the Purchasers at any time prior to the filing of the Disclosure Document."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 1884, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "822d36424571490394fbf57505e00db074c3adbb681b7b2424b99a56e61a6bdd", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 5802, "char_start": 3918, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "Immediately following the issuance or filing, as applicable, of the Disclosure Document, to the Company’s knowledge, the Purchasers will not be in possession of any material, non-public information received from the Company or any Agent or any of their respective officers, directors, or employees. Notwithstanding the foregoing, the Company shall not publicly disclose the name of the Purchaser, any of its Represented Accounts, or their respective affiliates and investment advisors, or include the name of the Purchaser, any of its Represented Accounts, or their respective affiliates and investment advisors in any press release or in any filing with the Commission or any regulatory agency or trading market, without the prior written consent of the Purchaser, except as required by any applicable law, rule or regulation, including any listing exchange, or to the extent requested by the Staff of the Commission, any representative of the NASDAQ Global Select Market (“NASDAQ”) or any other regulatory agency, in which case the Company shall, to the extent practicable, provide the Purchaser with prior written notice of such disclosure. 1.3 Closing. The closing of the transactions contemplated hereunder with respect to a Purchaser (the “Closing”) will take place on November 13, 2025, or such other date, if any, as is mutually agreed to by the Parties (the “Closing Date”). Under Rule 15c6-1 of the Exchange Act (as defined below), trades in the secondary market generally are required to settle in one business day unless the parties to a trade expressly agree otherwise. Accordingly, Purchasers who wish to trade Shares on the date hereof or on any subsequent date that is prior to the trading day preceding the Closing Date, by virtue of the fact that the Shares initially will settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 3468, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "25e164995f5aef627b71461efa63bc0234ed966c2f608fc9df78cb8fc78e7b89", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 9270, "char_start": 5802, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "On the Closing Date, and subject to the conditions contained in this Section 1.3: (a) each Purchaser shall (i) submit, through the Depository Trust Company (“DTC’s”) Deposit and Withdrawal at Custodian (“DWAC”) program, a deposit instruction to Equiniti Trust Company, LLC, acting as transfer agent and DTC custodian for the Common Stock (the “Transfer Agent”), for the applicable number of Shares, (ii) deliver to the Company the applicable Cash Payment by wire transfer of immediately available funds to the account of the Company set forth on Exhibit A or as otherwise advised by the Company to such Purchaser prior to the Closing and (iii) comply with the Instructions and Purchase Procedures attached hereto as Exhibit B; (b) the Company will deliver to each Purchaser or Represented Account the number of Shares set forth on such Purchaser’s applicable Schedule A via book-entry delivery pursuant to DWAC instructions specified on the applicable Schedule A, with any transfer taxes payable in connection with the delivery of Shares duly paid by the Company; (c) as a condition to Closing, (i) all conditions to the consummation of the transactions under that certain Note Purchase Agreement dated as of the date hereof among the Company and the noteholders party thereto (the “Note Purchase Agreement”) with respect to an applicable Purchaser shall have been satisfied and the closing of such transactions with respect to such applicable Purchaser shall have occurred (or shall occur substantially simultaneously with the Closing hereunder) and no Shares will be delivered until both a valid DWAC deposit instruction for the Shares has been received by the Transfer Agent and the Cash Payment by wire transfer of immediately available funds pursuant to Section 1.3(a) has been received by the Company; (ii) all of the representations and warranties of the Company in Section 2 hereof shall be true and correct as of the Closing Date and the Company shall have complied with all its agreements contained herein; and (iii) all of the representations and warranties of the Purchaser in Section 3 hereof shall be true and correct as of the Closing Date and the Purchaser shall have complied with all its agreements contained herein; and (d) the Shares to be delivered on the Closing Date shall have been approved for listing on NASDAQ, subject to official notice of issuance. 1.4 Registration of the Shares. The Company has registered the sale of the Shares pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-279080) filed with the Commission on May 2, 2024 (such registration statement, including the base prospectus contained therein, as supplemented by the prospectus supplement relating to the offer and sale of the Shares, dated November 6, 2025, is referred to herein as the “Registration Statement”). SECTION 2. Representations and Warranties of the Company. The Company hereby represents and warrants to each Purchaser that: 2.1 Organization. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 2.2 Authorization. The Company has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 2959, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d2cef496611aea56fa830f4c273908f1a2c751a1869f2b7c52fed4cc30540313", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 12229, "char_start": 9270, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "This Agreement has been duly authorized, executed and delivered by the Company and, assuming due execution and delivery by the Purchaser, constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, fraudulent conveyance, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting rights or remedies of creditors generally; and (ii) the application of general principles of equity. 2.3 Validity and Registration of Shares. The Shares to be issued and sold hereunder have been duly authorized by the Company and, when issued and delivered and paid for as provided herein, will be duly and validly issued, will be issued as part of CUSIP 683712103, will be fully paid and nonassessable and will conform in all material respects to the descriptions thereof in the Registration Statement and the issuance of the Shares is not subject to any preemptive or similar rights. The sale of the Shares to be issued and sold to the Purchasers on the Closing Date pursuant to this Agreement will have been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the Registration Statement, and book entries representing such Shares will not contain a restrictive legend. 2.4 SEC Filings. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the Commission under Sections 13, 14(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in the two years preceding the date hereof on a timely basis, except where the failure to file on a timely basis would not reasonably be expected to affect the Company’s ability to sell and issue the Shares and to carry out and perform all of its obligations under this Agreement. As of their respective filing dates (or, if amended prior to the date of this Agreement, when amended), such documents filed with the SEC pursuant to the Exchange Act (the “SEC Documents”) complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the Commission promulgated thereunder. The Company is eligible to register its Common Stock for sale using Form S-3 promulgated under the Securities Act. The Company has made available to each Purchaser or their representatives, or each Purchaser has had access through the Commission’s EDGAR website to, true and complete copies of the SEC Documents. No stop order suspending the effectiveness of the Registration Statement has been issued under the Securities Act and no proceedings for that purpose have been instituted or are pending or, to the Company’s knowledge, are threatened by the Commission. 2.5 Compliance with NASDAQ Listing Requirements. The Shares have been approved for listing on NASDAQ, subject to notice of issuance. 2.6 Non-Contravention."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 3816, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0be6a7d845e64ed462bfc600669c9054733003d0886b22473b085c8b39482971", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 16045, "char_start": 12229, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "The execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Shares and the consummation by the Company of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination of any right or asset of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property, right or assets of the Company or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority applicable to the Company, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, termination that, would not, individually or in the aggregate, have a material adverse effect on the business, properties, management, financial position or results of operations of the Company and its subsidiaries taken as a whole or materially impair the ability of the Company to perform its obligations under this Agreement (a “Material Adverse Effect”). 2.7 No Consents or Approvals. No consent, filing, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Shares and the consummation by the Company of the transactions contemplated by this Agreement, except for (i) such as have been, or prior to the Closing Date, will be, obtained or made, (ii) the registration of the Shares under the Securities Act and those that may be required under the Exchange Act, applicable state securities laws, or by NASDAQ or the Financial Industry Regulatory Authority, Inc., and (iii) those that, if not obtained or made, would not, individually or in the aggregate, have a Material Adverse Effect. SECTION 3. Representations and Warranties of the Purchasers. Each Purchaser, severally with respect to itself and its Represented Accounts (if any) and not jointly with other Purchasers, hereby represents and warrants to the Company that the following statements are true and correct as of the date of this Agreement: 3.1 Organization. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. 3.2 Authorization. Such Purchaser has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken. This Agreement has been duly authorized, executed and delivered by the Purchaser and constitutes a valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting creditors’ rights generally and by general equitable principles. 3.3 Investment. (a) Such Purchaser is knowledgeable, sophisticated and experienced in business and financial matters and has previously invested in securities similar to the Shares."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 2843, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "758c3b4e30d9700b3c71e52b1b020c514db432fc8b7a4d5b0f45c89030219b09", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 18888, "char_start": 16045, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "Such Purchaser is able to bear the economic risk of its investment in the Shares and is presently able to afford the complete loss of such investment and has been afforded access to information about the Company and its affiliates and their financial condition, results of operations, business, property and management sufficient to enable such Purchaser to evaluate its investment in the Shares. Such Purchaser and Represented Account for which it is acting are each an “accredited investor” as defined in Rule 501(a) under the Securities Act and it and any Represented Account for which it is acting are each a “qualified institutional buyer” as defined in Rule 144A under the Securities Act. (b) Such Purchaser (i) has received a copy of the Registration Statement, (ii) understands and accepts that the Shares to be acquired pursuant to this Agreement involve risk, including those described or incorporated by reference in the Registration Statement and (iii) has made an independent decision to purchase the Shares based on the information available to such Purchaser. Such Purchaser acknowledges that it has independently made its own analysis and decision to purchase the Shares and without reliance upon the Company or any of its agents or financial advisors (an “Agent”) and based on such information as it has deemed appropriate in its independent judgment. Such Purchaser has not relied on any information (in any form, whether written or oral, including any representation or warranty of the Company) furnished by the Company or its affiliates, any Agent or on the Company’s behalf in making that decision (other than, with respect to the Company, filings made by the Company with the Commission and the information set forth on Schedule B hereto). Such Purchaser further acknowledges that (i) such Purchaser had a sufficient amount of time to consider whether to participate in the Transaction and that neither the Company nor any Agent has placed any pressure on it to respond to the opportunity to participate in the Transaction, (ii) the terms of the Transaction are the result of bilateral negotiations between the parties, and such Purchaser was given a meaningful opportunity to negotiate the terms of the Transaction, (iii) it has consulted its own tax and legal advisors and (iv) it has not relied on the Company or its affiliates or any Agent or the Company’s representatives for any tax advice related to the Transaction. (c) The Purchaser acknowledges the Company intends to pay a fee to any Agent in connection with the Transaction. (d) Neither the Company, any Agent nor their respective affiliates, officers, employees, agents or controlling persons have provided any investment advice or rendered any opinion to such Purchaser as to whether the purchase of the Shares is prudent or suitable. 3.4 Non-Contravention."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 3394, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3d630559cf5ed98d6d1ebd0c2c893c753d54abfbb779e00fad5eabdfc7972a79", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 22282, "char_start": 18888, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "The execution, delivery and performance by the Purchaser of this Agreement, the purchase of the Shares and the consummation by the Purchaser of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination of any right or asset of the Purchaser or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Purchaser or any of its subsidiaries is a party or by which the Purchaser or any of its subsidiaries is bound or to which any of the property, right or assets of the Purchaser or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Purchaser or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority applicable to the Purchaser that, would, individually or in the aggregate, have, or would reasonably be expected to have, a material adverse effect on the ability of such Purchaser to carry out its obligations hereunder. 3.5 Compliance with Laws. Each Purchaser will comply with all applicable laws and regulations in effect in any jurisdiction in which the Purchaser purchases (or acquires pursuant to the transaction described herein or sells) Shares and will obtain any consent, approval or permission required for such purchases, acquisitions or sales under the laws and regulations of any jurisdiction to which the Purchaser is subject or in which the Purchaser makes such purchases, acquisitions or sales, and the Company shall have no responsibility therefor. The operations of the Purchaser have been conducted in material compliance with the rules and regulations administered or conducted by the U.S. Department of Treasury Office of Foreign Assets Control (“OFAC”) applicable to the Purchaser. The Purchaser has performed due diligence necessary to reasonably determine that its beneficial owners are not named on the lists of denied parties or blocked persons administered by OFAC, resident in or organized under the laws of a country that is the subject of comprehensive economic sanctions and embargoes administered or conducted by OFAC (“Sanctions”), or otherwise the subject of Sanctions. 3.6 No Guarantees. Each Purchaser confirms that neither the Company nor any Agent has (A) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial accounting or otherwise) of an investment in the Shares or (B) made any representation to such Purchaser regarding the legality of an investment in the Shares under applicable investment guidelines, laws or regulations. 3.7 No Brokers or Finders. None of such Purchaser nor any of its officers or directors or persons serving in a similar capacity has retained or authorized any agent, investment banker, financial advisor, broker, finder or other intermediary to act on behalf of such Purchaser or incurred any liability for any agent’s, banker’s, financial advisor’s, broker’s or finder’s fees or commissions in connection with the transactions contemplated by this Agreement. 3.8 Other Transactions."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 3738, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "532d99e1d3c34409e9f488a5e98b90d543523b2cf28f5c85a680993d42ea4068", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 26020, "char_start": 22282, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "The Purchaser acknowledges and agrees that it has not transacted, and will not transact, in any securities of the Company, including, but not limited to, any hedging transactions, (other than any sale to the Company of the Company’s 7.000% Convertible Senior Notes due 2030 held by the Purchaser (the “Notes”)) from the time the Purchaser was first contacted by the Company or any Agent with respect to the Transaction until after the confidential information (as described in the confirmatory email received by the Purchaser from any Agent (the “Wall Cross Email”)) is made public or the Purchaser’s confidentiality obligations described in the Wall Cross Email have expired. 3.9 Affiliate Status. The Purchaser is not directly, or indirectly through one or more intermediaries, controlling or controlled by, or under direct or indirect common control with, the Company and is not, and has not been for the immediately preceding three months, an “affiliate” (within the meaning of Rule 144 under the Securities Act) (an “Affiliate”) of the Company. The Purchaser and its Affiliates collectively beneficially own and will beneficially own as of the Closing Date (but without giving effect to the Transaction) (i) less than 5% of the outstanding common stock of the Company and (ii) less than 5% of the aggregate number of votes that may be cast by holders of those outstanding securities of the Company that entitle the holders thereof to vote generally on all matters submitted to the Company’s stockholders for a vote (the “Voting Power”). Immediately after the receipt by the Purchaser of Shares in the Transaction, the aggregate number of shares of common stock owned by the Purchaser and its Affiliates, together with the aggregate number of shares equal to the notional value of any “long” derivative transaction relating to such common stock to which the Purchaser or its Affiliate is a party (excluding derivative transactions relating to broad-based indices and any interest in the Notes), will not exceed 4.9% of the outstanding common stock. The Purchaser is not and will not be as of the Closing Date, a subsidiary, Affiliate or, to its knowledge, otherwise closely related to any director or officer of the Company or beneficial owner of 5% or more of the outstanding common stock or Voting Power (each such director, officer or beneficial owner, a “Related Party”) and, to the Purchaser’s knowledge, no Related Party beneficially owns or as of the Closing Date shall beneficially own 5% or more of the outstanding voting equity, or votes entitled to be cast by the outstanding voting equity, of the Purchaser. 3.10 Represented Accounts. If a Purchaser is acting on behalf of a Represented Account hereunder, such Purchaser has (i) sole investment discretion with respect to each such Represented Account, (ii) full power to make the foregoing representations, warranties and covenants on behalf of such Represented Account and (iii) the contractual authority to enter into this Agreement and to carry out the transactions contemplated hereby with respect to such Represented Account. 3.11 Qualified Institutional Buyer. Such Purchaser is (i) a qualified institutional buyer (as defined in Rule 144A under the Securities Act) and (ii) an accredited investor (as defined in Rule 501 of Regulation D under the Securities Act) and, in the case of (ii), either (x) an institutional account as defined in FINRA Rule 4512(c) or (y) a qualified purchaser, as defined in Section 2(a)(51)(A) of the Investment Company Act, as amended. Accordingly, such Purchaser acknowledges that the Transaction meets the exemptions from filing under FINRA Rules 5123(b)(1)(A), (B), (C) or (J). SECTION 4. Termination. 4.1 Conditions of Termination."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 3728, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "97442e7aa1d4f99c15251f939cbaa90019cbfa5fab3fa08c6258d85d5f129327", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 29748, "char_start": 26020, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "Notwithstanding anything to the contrary contained herein, with respect to any individual Purchaser, this Agreement may be terminated (a) at any time before the Closing by mutual written agreement of the Company and the respective Purchaser, (b) by either Party if (i) the Closing shall not have occurred on or before November 26, 2025 or (ii) any governmental authority of competent jurisdiction shall have issued or entered any governmental order or taken any other action permanently restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated herein. 4.2 Effect of Termination. In the event of termination pursuant to Section 4.1 hereof, this Agreement shall become null and void with respect to any individual Purchaser and have no effect (other than this Section 4.2 and Section 5, which shall survive termination) with no liability on the part of the Company or the respective Purchaser, or their directors, officers, agents or stockholders, with respect to this Agreement, except for the liability of any willful or intentional breach of this Agreement. SECTION 5. Miscellaneous. 5.1 Further Assurances. In case at any time after the Closing any further action is necessary or desirable to carry out the purposes of this Agreement or the transactions contemplated hereby, each of the Parties will take such further action (including the execution and delivery of such further instruments and documents) as the other Party may reasonably request, at the requesting Party’s expense. 5.2 Assignability. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by either the Company or a Purchaser without the prior written consent of the other party. 5.3 Counterparts. This Agreement may be executed simultaneously in counterparts (including by means of facsimile or other electronic transmission), any one of which need not contain the signatures of more than one Party, but all such counterparts taken together shall constitute one and the same agreement. The words “execution,” “signed,” “signature” and words of like import in this Agreement or in any other certificate, agreement or document related to this Agreement shall include images of manually executed signatures transmitted by email or other electronic format (including, without limitation, “pdf,” “tif” or “jpg”) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the UCC. 5.4 Descriptive Headings; Interpretation. The headings and captions used in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Any capitalized terms used in Schedule A and not otherwise defined therein shall have the meanings set forth in this Agreement. The use of the word “including” herein shall mean “including without limitation”. The Parties intend that each representation, warranty and covenant contained herein shall have independent significance. 5.5 Entire Agreement."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b7"], "char_count": 720, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dbf58c0771fa8fbdf641ea4819ca2a7d6bdca7f4ffa60ecc569129e3e340ca30", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 7, "char_end": 30468, "char_start": 29748, "fragment_sha256": "c259289bb7aa2799ce4936cd75a10c378a386fd26c253e75fbdd7bebb6f5b56d", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "This Agreement and the agreements and documents referred to herein (including the Note Purchase Agreement) contain the entire agreement and understanding among the Parties with respect to the subject matter hereof and supersede all prior agreements and understandings, whether written or oral, relating to such subject matter in any way. 5.6 Amendment. This Agreement may be amended, modified, discharged, terminated or supplemented but only in writing (including a writing evidenced by a facsimile transmission or other electronic transmission) signed by the Party against which enforcement is sought. 5.7 Expenses. Each Party will bear its own fees and expenses in connection with the transactions contemplated hereby."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b15"], "char_count": 400, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f0b14aa2a7216dad177a414e1f82a0d9c209b739cc5b2e6fb54515d17a9df363", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 15, "char_end": 400, "char_start": 0, "fragment_sha256": "dbb655030baadb85f1c3da3f7e34b4420f46e8b44cf32bc0b5b7f7236df1cafd", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "5.8 APPLICABLE LAW; WAIVER OF JURY TRIAL. THIS AGREEMENT, AND ANY CLAIM, COUNTERCLAIM OR DISPUTE OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT, SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE PARTIES AGREE TO WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY DISPUTE ARISING FROM OR RELATED TO THIS AGREEMENT."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b16"], "char_count": 3804, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2d856a65c2e4b928055f5e659c12ba2c396ef70751908bcc68b2d36f31cda29a", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 16, "char_end": 3804, "char_start": 0, "fragment_sha256": "83b504f75cc1772c394d8bc1798dfbe69f669ee52a90c4bedf423c6d02d4ffd4", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "5.9 Submission to Jurisdiction. Each Party agrees that any suit, action or proceeding brought by it against the other Party arising out of or based upon this Agreement or the transactions contemplated hereby shall be instituted exclusively in federal court in The City of New York, New York, and waives any objection which it may now or hereafter have to the laying of venue of any such proceeding. Each Party agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and the Purchasers, as applicable, and may be enforced in any court to the jurisdiction of which the applicable Party, is subject by a suit upon such judgment. 5.10 Survival. All authority herein conferred or agreed to be conferred in this Agreement shall survive the dissolution of such Purchaser and any representation, warranty, undertaking and obligation of such Purchaser hereunder shall be binding upon the trustees in bankruptcy, legal representatives, successors and assigns of such Purchaser. 5.11 Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be sent to the Company and the Purchasers at the addresses set forth below: If to the Company: Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1600 Tempe, AZ 85288 Attention: Chief Financial Officer with a copy (which will not constitute notice) to: Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1600 Tempe, AZ 85288 Attention: Chief Legal Officer Email: legal@opendoor.com If to the Purchasers: To the address or addresses set forth on Schedule A 5.12 Notification of Changes. Each Purchaser hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the Closing Date that would cause any representation, warranty or covenant of such Purchaser contained in this Agreement to be false or incorrect. 5.13 No Construction Against Draftsperson. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. 5.14 Non-Reliance by Purchaser. Each Purchaser acknowledges that (i) it has not relied on any statement or information provided by any Agent concerning the Company or the Transaction in making its decision to purchase Shares, (ii) any Agent has not acted as a financial advisor or fiduciary with respect to the Purchaser and (iii) any Agent is not responsible for the accuracy, completeness or adequacy of any information supplied to the Purchaser by any Agent on behalf of the Company. 5.15 Reliance by Agent. Any Agent and its officers, directors, employees, agents and affiliates (collectively, “Agent Parties”) may rely on each representation and warranty of the Company and of each Purchaser made herein or pursuant to the terms hereof with the same force and effect as if such representation or warranty were made directly to the Agent Parties. The Agent Parties shall be a third-party beneficiary of this Agreement to the extent provided in this Section 5.15. Each Purchaser agrees that any Agent shall not have any liability (whether direct or indirect, in contract or tort or otherwise) to any Purchaser for or in connection with the Transaction, except for any such liability for losses, claims, damages or liabilities (or fees or expenses relating thereto) incurred by a Purchaser that are finally judicially determined to have resulted from the bad faith or gross negligence of any Agent."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b18", "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b20"], "char_count": 189, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "32df463680d3e75d23d583097993c515ea12ca039d5b17a58af7470b979d2961", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 18, "char_end": 25, "char_start": 0, "fragment_sha256": "1ac562c88a9806655dfe93451beeb4cd602f44e6140733270a9aa499c4f077ef", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 20, "char_end": 162, "char_start": 0, "fragment_sha256": "ed148ec8088fe8871ce34ec06bfb4e8634ce588155f52a2b4f63b5946abb6560", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "(Signatures on next page)\n\nIN WITNESS WHEREOF, the Parties hereto have executed this Share Purchase Agreement as of the date first written above. OPENDOOR TECHNOLOGIES INC. By: Name: Title:"} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b22"], "char_count": 53, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7d1f939b54477e623efb361eea794f003300988db4fa647590aaaee79b64308e", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SHARE PURCHASE AGREEMENT", "[Signature Page to Share Purchase Agreement]"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 22, "char_end": 53, "char_start": 0, "fragment_sha256": 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["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b25"], "char_count": 174, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cc418405b5ab63c9ad736861b33af573dd9a9cfba5cc1beb0b2e6513cb3ea063", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SCHEDULE A"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 25, "char_end": 174, "char_start": 0, "fragment_sha256": "4a746fcabeb28a6b0757bce6f514d776dd7590b389daa521efb3dfab588fa955", "heading_path": ["EXHIBIT 10.1", "Exhibit 10.1", "SCHEDULE A"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s7", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "Purchaser Number of Shares Cash Payment (Name, Address, Email and Phone Number) (number of Shares to be sold for Cash Consideration) As defined below under “Number of Shares”"} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b27"], "char_count": 1442, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4aa37f4b58754df1020c7fe18cdb0a7545527bb5c0025f15f1f8e18e1d616488", "derivation_id": "6c8ae478e9f4c42b0211d956d17469090bb55e18e0eb195734b25e3c5f759af5", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "document_type": "material_agreement", "exhibit_type": "EX-10.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 10.1", "Definitions:"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "block_sequence": 27, "char_end": 1442, "char_start": 0, "fragment_sha256": "9c46eb80afa008b83f487335fd5c44b23070f984dac39bfe63f39a6bf46d0adf", "heading_path": ["EXHIBIT 10.1", "Definitions:"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#s8", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "“Business Day” means any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed. “Cash Payment” means the Number of Shares multiplied by the Last Reported Sale Price. “Common Stock” means the common stock of Opendoor Technologies Inc., a Delaware corporation, par value $0.0001 per share. “Number of Shares” means, for each $1,000 principal amount of Notes being repurchased from the Purchaser under the concurrent Note Purchase Agreement between the Purchase and the Company, a number of shares equal to (1) (a) $5,127.50 plus (b) the product of (i) Last Reported Sale Price (as defined below) minus $7.65 and (ii) 637.1050 and (iii) 96% divided by (2) Last Reported Sale Price. Plus, an additional number of Shares per $1,000 principal amount of such Notes equal to the quotient of (1) $34.4167 (the accrued interest) divided by (2) Last Reported Sale Price, rounded down to the nearest whole share. “Last Reported Sale Price” of the Common Stock means the closing sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on the date of this Agreement as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is traded."} +{"artifact_role": "ex10-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex10-1.htm#b30"], "char_count": 41, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9d1ed02fc812602f51c9549c24f99105ed5827d595d75440805c5921d1feecb6", "derivation_id": 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex10-1.htm", "table_id": null, "text": "Attached are Purchase Procedures for the purchase of common stock, par value $0.0001 per share, CUSIP 683712103 (the “Shares”) of Opendoor Technologies Inc., a Delaware corporation (the “Company”), for the Cash Payment (as defined in and pursuant to this Agreement between you and the Company), which is expected to occur on or about November 13, 2025. To ensure timely settlement, please follow the instructions as set forth below. These instructions supersede any prior instructions you received. Your failure to comply with the attached instructions may delay your receipt of the Shares. If you have any questions, please contact Edward Collins at [***]. To deliver Cash Payment: You must deliver to the Company the applicable Cash Payment by wire transfer of immediately available funds to the account of the Company. You should initiate the wire transfer no later than 9:00 a.m. New York City Time on November 13, 2025. Important: This note purchase is a separate transaction from the share purchase transaction that will be closed concurrently on November 13, 2025. For that reason, the Cash Payment payable by the Company for the Notes will not be netted against the cash consideration payable by you to the Company pursuant to the share purchase. 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(Nasdaq: OPEN) (\u201cOpendoor\u201d or the \u201cCompany\u201d) announced a special dividend distribution of warrants to holders of the Company\u2019s common stock as of 5:00 p.m. New York City time on November 18, 2025 (the \u201cRecord Date\u201d). The goal is simple: if management gets performance-based upside, shareholders should too - these warrants help achieve that. \u201cTo everyone who chose to be on this journey with us - thank you. You have been critical to this rebirth, and you should share in the upside just as we in management do,\u201d said Opendoor CEO Kaz Nejatian. \u201cPublic markets have a long history of taking shareholders for granted - this program is built to reverse that.\u201d This program is intentionally structured as a new playbook for public-company alignment. Each registered shareholder as of the Record Date will receive three series of warrants - Series K, Series A, and Series Z - one (1) warrant of each series for every thirty (30) shares of the Company\u2019s common stock held, rounded down to the nearest whole number. The details of these warrants are provided below and we plan for them to be listed and fully tradable. You can sell them on day one, or hold them and ride with us as we rebuild the company. Your choice. Your journey. \u201cSuccess requires a new approach and this is just our first step in rebuilding trust and being in lock-step with our shareholders,\u201d Nejatian added. \u201cReal alignment isn\u2019t a slogan, it\u2019s structural. If we win, you win - not theoretically, but practically and by design. That is how we rebuild trust. That is how we rebuild Opendoor.\u201d" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b8", + "block_sequence": 8, + "block_sha256": "3bd1800a9fb61e6e945aeb560d4bafac789be57d901c97f4412502afd0896570", + "block_type": "heading", + "char_count": 14, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", + "block_sequence": 8, + "char_end": 14, + "char_start": 0, + "fragment_sha256": "8eebf5580871ce1332848d9d83d94eeac43a3d86bf5e83997631d04765692b09", + "heading_path": [ + "EXHIBIT 99.1", + "Key Highlights" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s5", + "table": null, + "text": "Key Highlights" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b9", + "block_sequence": 9, + "block_sha256": "1d7bd4765008b9faf33f1e1cab7ba5745b439fa041c50ba4ae81bbe8124f29fb", + "block_type": "paragraph", + "char_count": 1430, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", + "block_sequence": 9, + "char_end": 1430, + "char_start": 0, + "fragment_sha256": "dd3bf06dcac551cb89dfba9d983b788f72de4a05bd50ea69c94b4cff13fa6328", + "heading_path": [ + "EXHIBIT 99.1", + "Key Highlights" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s5", + "table": null, + "text": "\u25cf No action required, and at no cost: For every thirty (30) shares owned on the Record Date, holders receive one warrant of each series (rounded down) - Series K, A, and Z. \u25cf Built for upside and alignment: Exercise prices are set at $9 (Series K), $13 (Series A), and $17 (Series Z), which we believe aligns value creation with performance, in lock- step with management. \u25cf Immediate liquidity and choice: The warrants are expected to be listed on Nasdaq under the symbols OPENW, OPENL, and OPENZ (subject to approval), so holders will be able to monetize the warrant right away or hold for potential upside. \u25cf Not dilutive at issuance: Because the warrants only convert into shares if exercised, there is no dilution today. This is a structural design choice that helps to protect current shareholders today while still enabling upside participation. If you receive a warrant and decide to sell it in the market for cash or determine not to exercise it, you may be diluted to the extent that other holders exercise any warrants. \u25cf Balance sheet friendly: If exercised for cash, proceeds bring in growth capital to enhance flexibility to advance our strategy, accelerate our roadmap and pursue opportunistic investments while further strengthening the balance sheet. \u25cf An investor FAQ will be available to answer mechanics and \u201cwhat if\u201d questions, which will be updated regularly to reflect questions coming in from shareholders." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b10", + "block_sequence": 10, + "block_sha256": "d171234400c4c9a8e9a879736864a68860087f84e9b3ed31c5c49d88da92147e", + "block_type": "heading", + "char_count": 35, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", + "block_sequence": 10, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "544a70780ed026907d8196aef319968b0ba5792d7354a2473119690ef4e3ffb4", + "heading_path": [ + "EXHIBIT 99.1", + "Details of the Warrant Distribution" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s6", + "table": null, + "text": "Details of the Warrant Distribution" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b11", + "block_sequence": 11, + "block_sha256": "36682345098261375e9321c75cb5b72b3a95dcdf51221344fe1fcf07318e31f0", + "block_type": "paragraph", + "char_count": 4022, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", + "block_sequence": 11, + "char_end": 4022, + "char_start": 0, + "fragment_sha256": "d92a939ece1acf65171d81299ded4e11626e17ae6a2dea2df0a17d4b76f9055e", + "heading_path": [ + "EXHIBIT 99.1", + "Details of the Warrant Distribution" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s6", + "table": null, + "text": "The Company expects to distribute the warrants on or about November 21, 2025 (the \u201cDistribution Date\u201d). The warrants will be issued without any action required by stockholders as of the Record Date and without any payment of cash or other consideration. Each series of warrants will entitle the holder to purchase one (1) share of common stock at an exercise price of $9.00 per Series K warrant, $13.00 per Series A warrant, $17.00 per Series Z warrant, at any time following the Distribution Date until the warrants expire on November 20, 2026, unless the Early Expiration Price Condition with respect to such series is satisfied as described in detail below. Following the Distribution Date, each series of warrants is expected to be freely tradable and listed on Nasdaq under the ticker OPENW, OPENL, OPENZ, respectively. Recipients of the warrants will be able to trade their warrants or exercise any warrants in accordance with the warrant agreement, irrespective of whether they continue to hold shares of the Company\u2019s common stock. \u25cf Distribution ratio: For each thirty (30) shares of common stock held as of the Record Date, you will receive one (1) Series K warrant, one (1) Series A warrant, and one (1) Series Z warrant (rounded down to the nearest whole number). As an example, a shareholder who owns 63 or 73 shares of common stock would receive two (2) of each of the Series K warrants, Series A warrants, and Series Z warrants, or six (6) warrants in total. A shareholder who owns 90 shares of common stock would receive three (3) of each of the Series K warrants, Series A warrants, and Series Z warrants, or nine (9) warrants in total. \u25cf Exercise prices: $9.00 per Series K warrant; $13.00 per Series A warrant; $17.00 per Series Z warrant. \u25cf Exercise method: Cash exercise; however, the Company may, in its sole discretion, implement a net exercise provision as provided in the warrant agreement. \u25cf Expiration: Each series will expire at 5:00 p.m. New York City time on November 20, 2026, unless the Early Expiration Price Condition (described below) is met, in which case the expiration will be automatically accelerated as specified in the warrant agreement (with the Company able to elect a later expiration date). \u25cf Early Expiration Price Condition: The \u201cEarly Expiration Price Condition\u201d will be satisfied if, within any period of thirty (30) consecutive trading days, there are at least twenty (20) trading days (whether or not consecutive) after the Distribution Date on which the daily volume-weighted average price (\u201cVWAP\u201d) of the Company\u2019s common stock equals or exceeds the applicable Early Expiration Trigger Price for a respective series of warrants. In the event that the Early Expiration Price Condition is satisfied for a particular series, that series will expire at 5:00 p.m. New York City time on the first trading day (or if net exercise is applicable to such series, the second trading day) following such twentieth (20th) trading day (unless the Company sets a later expiration date pursuant to the warrant agreement). The Company will announce any early expiration by press release, specifying which series is subject to early expiry. The \u201cEarly Expiration Trigger Price\u201d for each series will initially equal 120% of the exercise price of such series and will be subject to adjustment in accordance with the warrant agreement. \u25cf Listing: The Company intends to list the Series K, Series A, and Series Z warrants on The Nasdaq Stock Market under the tickers OPENW (Series K), OPENL (Series A), and OPENZ (Series Z). \u25cf Note: Eligibility is determined as of the Record Date by the holder of record. If your shares are held in a margin account, pledged as collateral or are on loan as of the Record Date, you may not be the holder of record and may not receive warrants. Investors should contact their broker to confirm their status and, if desired, to opt out of share lending or arrange for shares not to be on loan as of the Record Date. 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The warrant agreement contains additional detail on warrant holders\u2019 right to exercise, potential future adjustments to the warrants, potential suspension of the exercise period and related extension of expiry and other matters. 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Dyson Capital Advisors is serving as a Financial Advisor and Exclusive Warrant Structuring Advisor to Opendoor on the structuring and distribution of the warrants. Goldman Sachs & Co. LLC is serving as financial advisor to Opendoor." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b16", + "block_sequence": 16, + "block_sha256": "3adb8d40de63876c70840a64990fc0c3ae45f7c1a7646e7a820a672d398453f6", + "block_type": "heading", + "char_count": 24, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", + "block_sequence": 16, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "bf86edb5f387927a553ee56456b26e11be70eb8ad7d1f5141fdb6fbecdde26b6", + "heading_path": [ + "EXHIBIT 99.1", + "No Offer or Solicitation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s9", + "table": null, + "text": "No Offer or Solicitation" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b17", + "block_sequence": 17, + "block_sha256": "bbfac40f2911e1393688154d98bf0ceb6c0c7cf4b8ddfef7009f78ab6494f01e", + "block_type": "paragraph", + "char_count": 976, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", + "block_sequence": 17, + "char_end": 976, + "char_start": 0, + "fragment_sha256": "9e9144185db644df58878cb60ab003b107448d21059de4dff805f240489437b4", + "heading_path": [ + "EXHIBIT 99.1", + "No Offer or Solicitation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s9", + "table": null, + "text": "This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants will be filed with the Securities and Exchange Commission (the \u201cSEC\u201d) and will be available on the SEC\u2019s website located at http://www.sec.gov. 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All statements contained in this press release that do not relate to matters of historical fact should be considered forward- looking, including statements regarding the anticipated Warrant Distribution, including: the Company\u2019s expectations regarding the Warrant Distribution; the anticipated Record Date, distribution date and expiration date for the Warrants; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; and the price of the Warrants and the existence of a market for the Warrants. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in the Company\u2019s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company\u2019s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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(Nasdaq: OPEN) (“Opendoor” or the “Company”) announced a special dividend distribution of warrants to holders of the Company’s common stock as of 5:00 p.m. New York City time on November 18, 2025 (the “Record Date”). The goal is simple: if management gets performance-based upside, shareholders should too - these warrants help achieve that. “To everyone who chose to be on this journey with us - thank you. You have been critical to this rebirth, and you should share in the upside just as we in management do,” said Opendoor CEO Kaz Nejatian. “Public markets have a long history of taking shareholders for granted - this program is built to reverse that.” This program is intentionally structured as a new playbook for public-company alignment. Each registered shareholder as of the Record Date will receive three series of warrants - Series K, Series A, and Series Z - one (1) warrant of each series for every thirty (30) shares of the Company’s common stock held, rounded down to the nearest whole number. The details of these warrants are provided below and we plan for them to be listed and fully tradable. You can sell them on day one, or hold them and ride with us as we rebuild the company. Your choice. Your journey. “Success requires a new approach and this is just our first step in rebuilding trust and being in lock-step with our shareholders,” Nejatian added. “Real alignment isn’t a slogan, it’s structural. If we win, you win - not theoretically, but practically and by design. That is how we rebuild trust. 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This is a structural design choice that helps to protect current shareholders today while still enabling upside participation. If you receive a warrant and decide to sell it in the market for cash or determine not to exercise it, you may be diluted to the extent that other holders exercise any warrants. ● Balance sheet friendly: If exercised for cash, proceeds bring in growth capital to enhance flexibility to advance our strategy, accelerate our roadmap and pursue opportunistic investments while further strengthening the balance sheet. ● An investor FAQ will be available to answer mechanics and “what if” questions, which will be updated regularly to reflect questions coming in from shareholders."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b11"], "char_count": 3978, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "05c8c8462d38d8f2d6bb50b035701a04a1bdf6908af8c8f942095efc586e5550", "derivation_id": "177d77ce9f0a9c217a0c947ab990fc1db801eb53073a641d96c13e5c3d79b580", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Details of the Warrant Distribution"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "block_sequence": 11, "char_end": 3978, "char_start": 0, "fragment_sha256": "d92a939ece1acf65171d81299ded4e11626e17ae6a2dea2df0a17d4b76f9055e", "heading_path": ["EXHIBIT 99.1", "Details of the Warrant Distribution"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s6", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-1.htm", "table_id": null, "text": "The Company expects to distribute the warrants on or about November 21, 2025 (the “Distribution Date”). The warrants will be issued without any action required by stockholders as of the Record Date and without any payment of cash or other consideration. Each series of warrants will entitle the holder to purchase one (1) share of common stock at an exercise price of $9.00 per Series K warrant, $13.00 per Series A warrant, $17.00 per Series Z warrant, at any time following the Distribution Date until the warrants expire on November 20, 2026, unless the Early Expiration Price Condition with respect to such series is satisfied as described in detail below. Following the Distribution Date, each series of warrants is expected to be freely tradable and listed on Nasdaq under the ticker OPENW, OPENL, OPENZ, respectively. Recipients of the warrants will be able to trade their warrants or exercise any warrants in accordance with the warrant agreement, irrespective of whether they continue to hold shares of the Company’s common stock. ● Distribution ratio: For each thirty (30) shares of common stock held as of the Record Date, you will receive one (1) Series K warrant, one (1) Series A warrant, and one (1) Series Z warrant (rounded down to the nearest whole number). As an example, a shareholder who owns 63 or 73 shares of common stock would receive two (2) of each of the Series K warrants, Series A warrants, and Series Z warrants, or six (6) warrants in total. A shareholder who owns 90 shares of common stock would receive three (3) of each of the Series K warrants, Series A warrants, and Series Z warrants, or nine (9) warrants in total. ● Exercise prices: $9.00 per Series K warrant; $13.00 per Series A warrant; $17.00 per Series Z warrant. ● Exercise method: Cash exercise; however, the Company may, in its sole discretion, implement a net exercise provision as provided in the warrant agreement. ● Expiration: Each series will expire at 5:00 p.m. New York City time on November 20, 2026, unless the Early Expiration Price Condition (described below) is met, in which case the expiration will be automatically accelerated as specified in the warrant agreement (with the Company able to elect a later expiration date). ● Early Expiration Price Condition: The “Early Expiration Price Condition” will be satisfied if, within any period of thirty (30) consecutive trading days, there are at least twenty (20) trading days (whether or not consecutive) after the Distribution Date on which the daily volume-weighted average price (“VWAP”) of the Company’s common stock equals or exceeds the applicable Early Expiration Trigger Price for a respective series of warrants. In the event that the Early Expiration Price Condition is satisfied for a particular series, that series will expire at 5:00 p.m. New York City time on the first trading day (or if net exercise is applicable to such series, the second trading day) following such twentieth (20th) trading day (unless the Company sets a later expiration date pursuant to the warrant agreement). The Company will announce any early expiration by press release, specifying which series is subject to early expiry. The “Early Expiration Trigger Price” for each series will initially equal 120% of the exercise price of such series and will be subject to adjustment in accordance with the warrant agreement. ● Listing: The Company intends to list the Series K, Series A, and Series Z warrants on The Nasdaq Stock Market under the tickers OPENW (Series K), OPENL (Series A), and OPENZ (Series Z). ● Note: Eligibility is determined as of the Record Date by the holder of record. If your shares are held in a margin account, pledged as collateral or are on loan as of the Record Date, you may not be the holder of record and may not receive warrants. Investors should contact their broker to confirm their status and, if desired, to opt out of share lending or arrange for shares not to be on loan as of the Record Date."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b11"], "char_count": 43, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b922362033e7fd65b9548d97d33d6908ffc505808db2022d38855e492ee16187", "derivation_id": "177d77ce9f0a9c217a0c947ab990fc1db801eb53073a641d96c13e5c3d79b580", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Details of the Warrant Distribution"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "block_sequence": 11, "char_end": 4021, "char_start": 3978, "fragment_sha256": "d92a939ece1acf65171d81299ded4e11626e17ae6a2dea2df0a17d4b76f9055e", "heading_path": ["EXHIBIT 99.1", "Details of the Warrant Distribution"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s6", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-1.htm", "table_id": null, "text": "Brokerage practices and cut‑off times vary."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b13"], "char_count": 518, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "538da69369fa9b02b9db49cc8ed5a16ce4027ee75319e89e1f56df5589a6b1a0", "derivation_id": "177d77ce9f0a9c217a0c947ab990fc1db801eb53073a641d96c13e5c3d79b580", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Additional Information"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "block_sequence": 13, "char_end": 518, "char_start": 0, "fragment_sha256": "9558b37aee5ce91e60753a6acd777e72d68e885d89a75b90d5255fba5b4ce757", "heading_path": ["EXHIBIT 99.1", "Additional Information"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s7", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-1.htm", "table_id": null, "text": "The warrants will be governed by a warrant agreement that the Company expects to file with the U.S. Securities and Exchange Commission (“SEC”) on or before the Distribution Date. The warrant agreement contains additional detail on warrant holders’ right to exercise, potential future adjustments to the warrants, potential suspension of the exercise period and related extension of expiry and other matters. An investor FAQ regarding the warrant distribution will be posted on the Company’s Investor Relations website."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b15"], "char_count": 235, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1acaf485977c87c03de823fde2de248c906416e0eb70811e15ef687b31b04552", "derivation_id": "177d77ce9f0a9c217a0c947ab990fc1db801eb53073a641d96c13e5c3d79b580", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Transaction Advisors"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "block_sequence": 15, "char_end": 235, "char_start": 0, "fragment_sha256": "9114d1e66ee79ef6580f0c5ad60c03640c45cfe447af6c439d2da921051f4758", "heading_path": ["EXHIBIT 99.1", "Transaction Advisors"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s8", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-1.htm", "table_id": null, "text": "B. Dyson Capital Advisors is serving as a Financial Advisor and Exclusive Warrant Structuring Advisor to Opendoor on the structuring and distribution of the warrants. Goldman Sachs & Co. LLC is serving as financial advisor to Opendoor."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b17"], "char_count": 976, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bbfac40f2911e1393688154d98bf0ceb6c0c7cf4b8ddfef7009f78ab6494f01e", "derivation_id": "177d77ce9f0a9c217a0c947ab990fc1db801eb53073a641d96c13e5c3d79b580", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "No Offer or Solicitation"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "block_sequence": 17, "char_end": 976, "char_start": 0, "fragment_sha256": "9e9144185db644df58878cb60ab003b107448d21059de4dff805f240489437b4", "heading_path": ["EXHIBIT 99.1", "No Offer or Solicitation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s9", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-1.htm", "table_id": null, "text": "This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants will be filed with the Securities and Exchange Commission (the “SEC”) and will be available on the SEC’s website located at http://www.sec.gov. Holders should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#b19"], "char_count": 2619, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "377a430560dc86f27d7c73510d33ee765fbb84e8931bc4c44c5696504f91b35f", "derivation_id": "177d77ce9f0a9c217a0c947ab990fc1db801eb53073a641d96c13e5c3d79b580", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Forward Looking Statements"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "block_sequence": 19, "char_end": 2619, "char_start": 0, "fragment_sha256": "636ef1f32051f624fcd7c938ca469069659f500891c466a8e2e43d2e3bcbd1bf", "heading_path": ["EXHIBIT 99.1", "Forward Looking Statements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm#s10", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-1.htm", "table_id": null, "text": "This press release contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward- looking, including statements regarding the anticipated Warrant Distribution, including: the Company’s expectations regarding the Warrant Distribution; the anticipated Record Date, distribution date and expiration date for the Warrants; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; and the price of the Warrants and the existence of a market for the Warrants. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company’s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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By issuing tradable warrants at no upfront cost to shareholders, we are giving them greater ability to share in the upside, just as management does. Shareholders can choose to sell the warrants immediately or hold them with the potential to benefit alongside the Company as we execute our plan. This is our first step in rebuilding trust and creating a model with better alignment between the people who run the company and the people who own it." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b10", + "block_sequence": 10, + "block_sha256": "7de676f040d1d866082b143e0ea14701e7c6f9d2c2aa176759602bd782d2b4b6", + "block_type": "heading", + "char_count": 18, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 10, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "bec865447f948e5ca2382f681f813d1eb2beb6298d0cdf42242d6d023a1b4802", + "heading_path": [ + "EXHIBIT 99.2", + "What is a warrant?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s7", + "table": null, + "text": "What is a warrant?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b11", + "block_sequence": 11, + "block_sha256": "be95dcbe69928a5301f313bd552dfa22e0148c54ac93d08c6582ab8ee2049e2f", + "block_type": "paragraph", + "char_count": 210, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 11, + "char_end": 210, + "char_start": 0, + "fragment_sha256": "293c97aa1279da1cf04cbe28f38ccd31345a89e9697f369a5bea837360df8d3d", + "heading_path": [ + "EXHIBIT 99.2", + "What is a warrant?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s7", + "table": null, + "text": "A warrant is an option issued by the Company that gives the holder the right, but not the obligation, to purchase one share of Opendoor\u2019s common stock at a specified \u201cexercise price\u201d before the warrant expires." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b12", + "block_sequence": 12, + "block_sha256": "bc81bb58d2b1c6aff48c37eccbe8fb04d5715590629b595425a8b125ac5645d2", + "block_type": "heading", + "char_count": 40, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 12, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "53eea00fa9660bd0fcf558d790b605662affcb3939933e3a986ca9ce40ff4577", + "heading_path": [ + "EXHIBIT 99.2", + "What is a warrant dividend distribution?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s8", + "table": null, + "text": "What is a warrant dividend distribution?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b13", + "block_sequence": 13, + "block_sha256": "6ef0f1c2cd54674d8e3545301a119ee40086d76d2fc885d2397f0c18f2bab7b9", + "block_type": "paragraph", + "char_count": 352, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 13, + "char_end": 352, + "char_start": 0, + "fragment_sha256": "435bb5ab10684affcbe69854cef6d8a2840f2a2facc1e1c352434559eaae93d0", + "heading_path": [ + "EXHIBIT 99.2", + "What is a warrant dividend distribution?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s8", + "table": null, + "text": "The warrant dividend is a distribution of warrants by Opendoor to all existing holders of common stock. As with a cash dividend, shareholders do not need to pay any amount or take any other action to receive the distribution. In the case of a warrant dividend the asset being distributed to all shareholders is in the form of a warrant instead of cash." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b14", + "block_sequence": 14, + "block_sha256": "afd6d2970d4b10b9add3d7dfb4eb97c9627f83de582429811fcc3b0a0d1f996c", + "block_type": "heading", + "char_count": 14, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 14, + "char_end": 14, + "char_start": 0, + "fragment_sha256": "6a80c7dc4183de26bed6d235a4410b760f100a59995db24a3c29e6a2d270722c", + "heading_path": [ + "EXHIBIT 99.2", + "Key highlights" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s9", + "table": null, + "text": "Key highlights" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b15", + "block_sequence": 15, + "block_sha256": "18d6649bf1bb6b834a462c799c15e30c5c85a26f1a07d8e781e428313a220ef8", + "block_type": "paragraph", + "char_count": 1358, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 15, + "char_end": 1358, + "char_start": 0, + "fragment_sha256": "7e8c75f04d23d348bba45ad50cba3eabe923abaeb6cb3f1730ee502550566f95", + "heading_path": [ + "EXHIBIT 99.2", + "Key highlights" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s9", + "table": null, + "text": "\u25cf No action required, and at no cost: For every thirty (30) shares owned on the Record Date, holders receive one warrant of each series (rounded down) - Series K, A, and Z. \u25cf Built for upside and alignment: Exercise prices are set at $9 (Series K), $13 (Series A), and $17 (Series Z), which we believe aligns value creation with performance, in lock-step with management. \u25cf Immediate liquidity and choice: The warrants are expected to be listed on Nasdaq under the symbols OPENW, OPENL, and OPENZ (subject to approval), so holders will be able to monetize the warrant right away or hold for potential upside. \u25cf Not dilutive at issuance: Because the warrants only convert into shares if exercised, there is no dilution today. This is a structural design choice that helps to protect current shareholders today while still enabling upside participation. If you receive a warrant and decide to sell it in the market for cash or determine not to exercise it, you may be diluted to the extent that other holders exercise any warrants. \u25cf Balance sheet friendly: If exercised for cash, proceeds bring in capital to enhance flexibility to advance our strategy, accelerate our roadmap and pursue opportunistic investments while further strengthening the balance sheet. \u25cf This Shareholder FAQ will be updated regularly to reflect questions coming in from shareholders." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b16", + "block_sequence": 16, + "block_sha256": "7e3df6c86479cb95e5a097cd40c3bb7274bce2f68b34398e54f28e67475fa988", + "block_type": "heading", + "char_count": 21, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 16, + "char_end": 21, + "char_start": 0, + "fragment_sha256": 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"norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s10", + "table": null, + "text": "\u25cf Record Date: November 18, 2025, 5:00 p.m. New York City time \u25cf Distribution Date: On or about November 21, 2025 \u25cf Scheduled expiration: November 20, 2026, subject to Early Expiration Price Condition described below" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b18", + "block_sequence": 18, + "block_sha256": "6b6a4abc464de01df6d31f6bb524249238392dc0914214354d2634bb5921fc83", + "block_type": "heading", + "char_count": 26, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 18, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "14623061f9b1976312bc0d805d9cf87e43e3185f16cf8c4fbc1fc4c8b7496312", + "heading_path": [ + "EXHIBIT 99.2", + "\u25cf Intended Nasdaq tickers:" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s11", + "table": null, + "text": "\u25cf Intended Nasdaq tickers:" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b19", + "block_sequence": 19, + "block_sha256": "3b6883d28800102bb6e03fa78dd116f9ed6b5f11c81756683ffa9a24eef5995b", + "block_type": "paragraph", + "char_count": 70, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 19, + "char_end": 70, + "char_start": 0, + "fragment_sha256": "54b85de34ab2450fc57623a65bf27c2f988acc44cae1acb7f52d692e815bb2d4", + "heading_path": [ + "EXHIBIT 99.2", + "\u25cf Intended Nasdaq tickers:" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s11", + "table": null, + "text": "\u25cb Series K ($9): OPENW \u25cb Series A ($13): OPENL \u25cb Series Z ($17): OPENZ" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b20", + "block_sequence": 20, + "block_sha256": "3c7ee0451e23dde0a56e61a9e6a6bc77fe6883a442dc383b6f6b77e5a2f7b2dc", + "block_type": "heading", + "char_count": 69, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 20, + "char_end": 69, + "char_start": 0, + "fragment_sha256": "d357324678576a6b744ef3e4a46793d49dc2d24372747590ba294406f9209773", + "heading_path": [ + "EXHIBIT 99.2", + "Who will receive the warrants and how many warrants will be received?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s12", + "table": null, + "text": "Who will receive the warrants and how many warrants will be received?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b21", + "block_sequence": 21, + "block_sha256": "2fae254ee9aa5d3b72bacd7f8fa26e9a2bd9ed3ff76875c6e2460dbb2d915b92", + "block_type": "paragraph", + "char_count": 708, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 21, + "char_end": 708, + "char_start": 0, + "fragment_sha256": "3fa23c339e40b062b792a8f62242829a599b2657cd99660443ff1fda0141ec0a", + "heading_path": [ + "EXHIBIT 99.2", + "Who will receive the warrants and how many warrants will be received?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s12", + "table": null, + "text": "Holders of Opendoor\u2019s common stock will receive one (1) Series K warrant, one (1) Series A warrant, and one (1) Series Z warrant for each thirty (30) shares of common stock held as of the Record Date (rounded down to the nearest whole number). As an example, a shareholder who owns 63 or 73 shares of common stock would receive two (2) of each of the Series K warrants, Series A warrants, and Series Z warrants, or six (6) warrants in total. A shareholder who owns 90 shares of common stock would receive three (3) of each of the Series K warrants, Series A warrants, and Series Z warrants, or nine (9) warrants in total. Fractional warrants will not be issued. Per\u2011account rounding may apply at your broker." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b22", + "block_sequence": 22, + "block_sha256": "cd212e03b97700a5db3c7273f5ed5182f69322e9592b988f1a78ce849f53d7b9", + "block_type": "heading", + "char_count": 117, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 22, + "char_end": 117, + "char_start": 0, + "fragment_sha256": "4bc2460d8407c4a3b3cba5c95856ea0f7713b0996e2cc9a25b8d5eeb5d59bacb", + "heading_path": [ + "EXHIBIT 99.2", + "My shares are in a margin account (and/or my shares were on loan) as of the Record Date. How are my warrants handled?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s13", + "table": null, + "text": "My shares are in a margin account (and/or my shares were on loan) as of the Record Date. How are my warrants handled?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b23", + "block_sequence": 23, + "block_sha256": "336aa9647784724c32178d55806eda38f408660f2eba50ed599c4401cc6b9060", + "block_type": "paragraph", + "char_count": 593, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 23, + "char_end": 593, + "char_start": 0, + "fragment_sha256": "761e0c298f7434d53108b6fe6cd9028721a7d6ef246cc633fd31a33f1d6f6e86", + "heading_path": [ + "EXHIBIT 99.2", + "My shares are in a margin account (and/or my shares were on loan) as of the Record Date. How are my warrants handled?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s13", + "table": null, + "text": "If your shares of common stock are being pledged as collateral or loaned out as of the Record Date, you may not be the shareholder of record and may not receive the warrant dividend directly. Brokers may post \u201cin\u2011lieu of\u201d warrant credits in some cases. We believe that in some cases you may need to transfer your shares from a margin account to a non-margin account (sometimes referred to as a cash account or fully paid-for account) before the Record Date to receive the warrant dividend. Contact your broker to confirm your entitlement and the form of credit, as practices vary across firms." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b24", + "block_sequence": 24, + "block_sha256": "d17dd9ab5f8e9379a20fa1bc101743361f4f1def611aac0e5de92785e07b40c3", + "block_type": "heading", + "char_count": 38, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 24, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "a30156634920cfe4106f75b5f3577fcdb0d37aeaca6c5fa47f9f4e6515d1122c", + "heading_path": [ + "EXHIBIT 99.2", + "When will the warrants be distributed?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s14", + "table": null, + "text": "When will the warrants be distributed?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b25", + "block_sequence": 25, + "block_sha256": "7f21efb3921a6748ba182290833ec146a2a55aa39e230b1bb01a00ae53533cb6", + "block_type": "paragraph", + "char_count": 30, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 25, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "f3428f8eed31b6279fd302c539369a19d4611fd82ee090ce7a27da1e14b9c883", + "heading_path": [ + "EXHIBIT 99.2", + "When will the warrants be distributed?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s14", + "table": null, + "text": "On or about November 21, 2025." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b26", + "block_sequence": 26, + "block_sha256": "644809aaff19210a955d1a95dbfeb2f34a1f2dc3dc5aff2a0bcaadc7d8f798bf", + "block_type": "heading", + "char_count": 69, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 26, + "char_end": 69, + "char_start": 0, + "fragment_sha256": "979e6e711546b9ba557016086393e11230a44933fdf6f17693a4f5b24bf98ad4", + "heading_path": [ + "EXHIBIT 99.2", + "What is the last day I can buy shares and still receive the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s15", + "table": null, + "text": "What is the last day I can buy shares and still receive the warrants?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b27", + "block_sequence": 27, + "block_sha256": "3a624030b11b9fe597e5fceb6a521533f6550eeaf44164eb3d2d031c332e3ac1", + "block_type": "paragraph", + "char_count": 282, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 27, + "char_end": 282, + "char_start": 0, + "fragment_sha256": "3b6ecec8852b8613375d2b7e10d13de4a44ef5e7abfecf7bae7b0bd5631be55b", + "heading_path": [ + "EXHIBIT 99.2", + "What is the last day I can buy shares and still receive the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s15", + "table": null, + "text": "Purchases generally must settle in time for you to be a shareholder of record as of the Record Date. Typically, that means buying no later than the trading day before such date so that settlement occurs by the Record Date. Please confirm specific settlement timing with your broker." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b28", + "block_sequence": 28, + "block_sha256": "b97d972d56a9c2b46798c6c82ecaa81919a11e9d1bd84efddffdb60c55c49ec2", + "block_type": "heading", + "char_count": 20, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 28, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "9790bbd2d8a97cb5a8a891ead27ec4fe6bac6f1a35298557ac82e47711a1cb0a", + "heading_path": [ + "EXHIBIT 99.2", + "Trading and Handling" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s16", + "table": null, + "text": "Trading and Handling" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b29", + "block_sequence": 29, + "block_sha256": "586a3be6cbaa81e7c6001c2cb1251345405de1b4bb38a83812f6f620b2446ec9", + "block_type": "heading", + "char_count": 45, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 29, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "9b23fa8eab12b3d527fa2786476805bccaea7217615a943c6247397d91a88771", + "heading_path": [ + "EXHIBIT 99.2", + "What do I have to do to receive the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s17", + "table": null, + "text": "What do I have to do to receive the warrants?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b30", + "block_sequence": 30, + "block_sha256": "195092dc0125243d08ddc81657a6f795cfc2ce667209ab51cb464b39e78113ed", + "block_type": "paragraph", + "char_count": 248, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 30, + "char_end": 248, + "char_start": 0, + "fragment_sha256": "3b4d09ab43ed6afc0076e4086775e32ae41ab54fabaf878006bc324596c23f64", + "heading_path": [ + "EXHIBIT 99.2", + "What do I have to do to receive the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s17", + "table": null, + "text": "In most cases no action is required if you are a shareholder as of the Record Date and you have not lent out your shares to your broker or other parties, but we advise that you confirm this with your broker. Processing timelines may vary by broker." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b31", + "block_sequence": 31, + "block_sha256": "4a8c0f19eda6865a5628424ef79e28eb99a7c4bae283f805177366e62a72264f", + "block_type": "heading", + "char_count": 73, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 31, + "char_end": 73, + "char_start": 0, + "fragment_sha256": "7a6dbd2a6c00c060651ba73671540cf8e037319c411fea4f951e3e2d28890427", + "heading_path": [ + "EXHIBIT 99.2", + "My warrants are not showing up in my brokerage account. What should I do?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s18", + "table": null, + "text": "My warrants are not showing up in my brokerage account. What should I do?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b32", + "block_sequence": 32, + "block_sha256": "91497e8a6e455f74ed5189abba4fa15c2c992dc7411e18b04ce8fead25476843", + "block_type": "paragraph", + "char_count": 485, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 32, + "char_end": 485, + "char_start": 0, + "fragment_sha256": "a88ab763f2ecfee4aafec1ca350ea2ce2716eb2cadaf4d91ae3e7aabdc0c3791", + "heading_path": [ + "EXHIBIT 99.2", + "My warrants are not showing up in my brokerage account. What should I do?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s18", + "table": null, + "text": "Typically, your broker will be responsible for crediting your account with warrants if you hold shares as of the Record Date and such shares are not being pledged as collateral or loaned out. If your shares are being pledged as collateral or loaned out, other mechanics may apply. In all cases you would need to contact your broker directly for confirmation and for any other information regarding timing and access to warrants, including the mechanics for warrant sales and exercises." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b33", + "block_sequence": 33, + "block_sha256": "fb68f211387ecaaaa84f2220c7e8b32b474e6653a7aff32b50b6b25c4c823096", + "block_type": "heading", + "char_count": 58, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 33, + "char_end": 58, + "char_start": 0, + "fragment_sha256": "7bbb85b20e016887f65941137b6aaf884cfaa505c8fec65a2165fed036003c36", + "heading_path": [ + "EXHIBIT 99.2", + "Will the warrants trade publicly? When will trading begin?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s19", + "table": null, + "text": "Will the warrants trade publicly? When will trading begin?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b34", + "block_sequence": 34, + "block_sha256": "938602d578b196107095d1c305e06c7841a94d6aa3978c2b96dc5ad2f3bf0b70", + "block_type": "paragraph", + "char_count": 238, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 34, + "char_end": 238, + "char_start": 0, + "fragment_sha256": "5ef6a49db5aab19f29d76d30ff5998a6a3b91982071fd79883a9d5f07b7532c0", + "heading_path": [ + "EXHIBIT 99.2", + "Will the warrants trade publicly? When will trading begin?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s19", + "table": null, + "text": "Opendoor intends to list the warrants on Nasdaq. You may trade them soon after you receive them. You may hold, sell, or exercise each series independently. Trading is expected to begin on the first trading day after the Distribution Date." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b35", + "block_sequence": 35, + "block_sha256": "3657b8da44a6d18627169d54bff0859aa674f2f9a8331c4e9fd241d88b10b50d", + "block_type": "heading", + "char_count": 21, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 35, + "char_end": 21, + "char_start": 0, + "fragment_sha256": "00b6b0b7c0fbf1eec7ca210943d26aca2d06f7acf49b8e7012d2b72e889b2d35", + "heading_path": [ + "EXHIBIT 99.2", + "What are the tickers?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s20", + "table": null, + "text": "What are the tickers?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b36", + "block_sequence": 36, + "block_sha256": 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"40e66ddca4297290e8686bdb8032fd81aeaf87dc833c4e777e8643558c35b8f6", + "heading_path": [ + "EXHIBIT 99.2", + "Can I sell or transfer the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s21", + "table": null, + "text": "Except for applicable securities laws and company policies that may apply to insiders, we are not aware of any restrictions on buying or selling the warrants." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b39", + "block_sequence": 39, + "block_sha256": "9e053aae5fdf427cb2e3b9f740e0a81f8216d2a0ca872fe5c3e446a3d98742f0", + "block_type": "heading", + "char_count": 45, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 39, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "ea6eae665ee348f8efd2026f03af647ddeada19b87ce2d2726f0206784ff6143", + "heading_path": [ + "EXHIBIT 99.2", + "Are there risks associated with the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s22", + "table": null, + "text": "Are there risks associated with the warrants?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b40", + "block_sequence": 40, + "block_sha256": "547a8fd69a1cfda258e7200bba37cd7f4a9ef4888b40ea57b7445fbbfb1db47f", + "block_type": "paragraph", + "char_count": 448, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 40, + "char_end": 448, + "char_start": 0, + "fragment_sha256": "8fe590d191ea3376c3c3d6dec2f276a6d80bc99f0753ca5e99590efe2c86f885", + "heading_path": [ + "EXHIBIT 99.2", + "Are there risks associated with the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s22", + "table": null, + "text": "Yes. Like any security, the warrants involve risks. For example, they could expire with no value if not exercised, trading/liquidity may be limited, and series\u2011specific early\u2011expiration can shorten the time to act. Please review the \u201cRisk Factors\u201d in Opendoor\u2019s prospectus supplement that we intend to file in connection with the warrants and our other filings with the Securities and Exchange Commission (the \u201cSEC\u201d) for a more detailed discussion." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b41", + "block_sequence": 41, + "block_sha256": "7f43dbc114a7a83ac546c566eb64372d2ad298e4685cddb8bd5161f7cf3a170a", + "block_type": "heading", + "char_count": 91, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 41, + "char_end": 91, + "char_start": 0, + "fragment_sha256": "6fb84abbe3136bb9332f04b40771278d2e4a043ba9e8fc5f9a60ff4a2758027c", + "heading_path": [ + "EXHIBIT 99.2", + "What happens to my warrants if I sell my Opendoor common stock after the Distribution Date?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s23", + "table": null, + "text": "What happens to my warrants if I sell my Opendoor common stock after the Distribution Date?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b42", + "block_sequence": 42, + "block_sha256": "d0cd189ec49a8d9935f5a4320b2d647cd0e925ffd8268fb1cada0af57f6efe02", + "block_type": "paragraph", + "char_count": 298, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 42, + "char_end": 298, + "char_start": 0, + "fragment_sha256": "3bf1d325983191b90017b0015846212b86f51116147c88f6364ec40acf4a0367", + "heading_path": [ + "EXHIBIT 99.2", + "What happens to my warrants if I sell my Opendoor common stock after the Distribution Date?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s23", + "table": null, + "text": "If you were a holder of record as of the Record Date, the warrants will remain in your account even if you later sell your shares of common stock. The warrants are separate securities and do not transfer automatically with the common stock. Check with your broker regarding account\u2011level mechanics." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b43", + "block_sequence": 43, + "block_sha256": "5f73e82b8528c5ef4bf750c9240815bdf556590b39c7eea415b0bd5d98699b99", + "block_type": "heading", + "char_count": 18, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 43, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "f2a28dd320b43ee71cc1b65c2a130bcdb411d4e431a565477dc7d268ab03b023", + "heading_path": [ + "EXHIBIT 99.2", + "Series and Pricing" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s24", + "table": null, + "text": "Series and Pricing" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b44", + "block_sequence": 44, + "block_sha256": "abe9d941963f8be03923abb2b47a61076cc75ea37a0d360c13da1f3147212214", + "block_type": "heading", + "char_count": 77, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 44, + "char_end": 77, + "char_start": 0, + "fragment_sha256": "e6293519fd8f9596100479eb37dfd62c6a05350fc258dd50d9b7777ac8209925", + "heading_path": [ + "EXHIBIT 99.2", + "Are there three separate series? Can I hold/sell/exercise them independently?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s25", + "table": null, + "text": "Are there three separate series? Can I hold/sell/exercise them independently?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b45", + "block_sequence": 45, + "block_sha256": "684fb8aeb2d254c4bb69abc4e23eaa1a9c117d7a0536e16d3b2edcb3b636c303", + "block_type": "paragraph", + "char_count": 385, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 45, + "char_end": 385, + "char_start": 0, + "fragment_sha256": "53c34a4af2dcc88e12c3245658a2eca783958310bfc7b0de23e08300254924b1", + "heading_path": [ + "EXHIBIT 99.2", + "Are there three separate series? Can I hold/sell/exercise them independently?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s25", + "table": null, + "text": "Yes. The distribution includes three separate series of warrants, Series K, Series A, and Series Z. Each series is a distinct security with its own exercise price, trading symbol, and Early Expiration Price Condition (see below). You may hold, sell, or exercise each series independently. Exercise and expiration for one series do not affect the exercise or expiry of the other series." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b46", + "block_sequence": 46, + "block_sha256": "e5ad82c411d4b7119251ac9e057a6ade5bb0754637e7ed93965f0dada6f059f2", + "block_type": "heading", + "char_count": 29, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 46, + "char_end": 29, + "char_start": 0, + "fragment_sha256": "7ce6fd5840265f914bc8d350b606bad19c99ae36b2e2fb8dbf3ceb7f3ed56d9a", + "heading_path": [ + "EXHIBIT 99.2", + "What are the exercise prices?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s26", + "table": null, + "text": "What are the exercise prices?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b47", + "block_sequence": 47, + "block_sha256": "b5b0ff4207483782db9a315dd36cb6e1112674b2e28751d9d71d62dd4bbeb485", + "block_type": "paragraph", + "char_count": 49, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 47, + "char_end": 49, + "char_start": 0, + "fragment_sha256": "09c38e0de24d383b6c2bc77172219cecb5eb271102def12219e49f44a4cdafe0", + "heading_path": [ + "EXHIBIT 99.2", + "What are the exercise prices?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s26", + "table": null, + "text": "Series K: $9.00 Series A: $13.00 Series Z: $17.00" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b48", + "block_sequence": 48, + "block_sha256": "6eef7a333de7d55c237e8dfaaa364bd09d0be10a719680c8fa596ece7eba8813", + "block_type": "heading", + "char_count": 41, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 48, + "char_end": 41, + "char_start": 0, + "fragment_sha256": "207e50094778f5520e7f448a75c2b139b30524d6c1fd7b40f1eb0aed5989d484", + "heading_path": [ + "EXHIBIT 99.2", + "Expiration and Early\u2011Expiration Mechanics" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s27", + "table": null, + "text": "Expiration and Early\u2011Expiration Mechanics" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b49", + "block_sequence": 49, + "block_sha256": "8accea175ee396af0c7c82e94afedae0b6b47bb1bdfc93714f35dddcbb7ecea3", + "block_type": "heading", + "char_count": 28, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 49, + "char_end": 28, + "char_start": 0, + "fragment_sha256": "ea6d5c7c04aac8394d1938081bbc128769b8cf11faf93d99853f7aee6b2b279a", + "heading_path": [ + "EXHIBIT 99.2", + "When do the warrants expire?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s28", + "table": null, + "text": "When do the warrants expire?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b50", + "block_sequence": 50, + "block_sha256": "4833140ca60729e9496639d45525d5d48f331fb8926638dcd084de52e318c8f6", + "block_type": "paragraph", + "char_count": 256, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 50, + "char_end": 256, + "char_start": 0, + "fragment_sha256": "2a7ce91a03855ad00fda93700fa8e2082ee52d3d4c05088565ffd28569382199", + "heading_path": [ + "EXHIBIT 99.2", + "When do the warrants expire?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s28", + "table": null, + "text": "Each series has its own expiration date. By default, each series will expire at 5:00 p.m. New York City time on November 20, 2026, unless that series satisfies its Early Expiration Price Condition. One series can expire while the others remain outstanding." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b51", + "block_sequence": 51, + "block_sha256": "77974a657412e993cc7f5a3f14568d7880f3dd7d36e7b6f2e26b4e2abc03ae09", + "block_type": "heading", + "char_count": 56, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 51, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "11925790ce7a7894d976862a324e70b152e5c359c76858e9c65b57bf7418e087", + "heading_path": [ + "EXHIBIT 99.2", + "If one series expires early, what happens to the others?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s29", + "table": null, + "text": "If one series expires early, what happens to the others?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b52", + "block_sequence": 52, + "block_sha256": "15be4bb2c61afe29af02ce5223e2db646b31c0a586a19e63137e9953bc0cf662", + "block_type": "paragraph", + "char_count": 274, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 52, + "char_end": 274, + "char_start": 0, + "fragment_sha256": "94964120c63400fab9b8d2107563f8fc530ead54673a08289cdf0c42301b6e24", + "heading_path": [ + "EXHIBIT 99.2", + "If one series expires early, what happens to the others?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s29", + "table": null, + "text": "Nothing changes for the other series. Early expiration applies only to the series that met its Early Expiration Price Condition. Each remaining series remains exercisable until its own scheduled expiration date or until its own Early Expiration Price Condition is satisfied." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b53", + "block_sequence": 53, + "block_sha256": "8a13d8f7df9194c6855e9e6171f1459c1d399d67b680ff1500eadec417743882", + "block_type": "heading", + "char_count": 34, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 53, + "char_end": 34, + "char_start": 0, + "fragment_sha256": "546da6294d82e766e66cd8d7cd975352056d30d1f159c1f7c19901fe842e4032", + "heading_path": [ + "EXHIBIT 99.2", + "What triggers an early expiration?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s30", + "table": null, + "text": "What triggers an early expiration?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b54", + "block_sequence": 54, + "block_sha256": "cc4d90534fa10c3262668457aa5069cde335c06f4c1ab76f195ab1d28774ddbe", + "block_type": "paragraph", + "char_count": 468, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 54, + "char_end": 468, + "char_start": 0, + "fragment_sha256": "f4a3502b2cf86519f0c10206812ded5a5132fa701ec64745e8e85fcbb0e20967", + "heading_path": [ + "EXHIBIT 99.2", + "What triggers an early expiration?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s30", + "table": null, + "text": "Early expiration is determined independently for each series. The \u201cEarly Expiration Price Condition\u201d will be satisfied if, within any period of thirty (30) consecutive trading days, there are at least twenty (20) trading days (whether or not consecutive) after the Distribution Date on which the daily volume-weighted average price of Opendoor\u2019s common stock exceeds the applicable Early Expiration Trigger Price (as defined below) for a respective series of warrants." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b55", + "block_sequence": 55, + "block_sha256": "d9522d211725ddc4818be360bc0388c10f16d2a909fde0ec277b5d3aaa121daf", + "block_type": "paragraph", + "char_count": 374, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 55, + "char_end": 374, + "char_start": 0, + "fragment_sha256": "aaa49257181c8b63574348bd4af6673c7c9cb0abe98c40d29832a80585bcdf79", + "heading_path": [ + "EXHIBIT 99.2", + "What triggers an early expiration?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s30", + "table": null, + "text": "In the event that the Early Expiration Price Condition is satisfied for a particular series, that series will expire at 5:00 p.m. New York City time on the first trading day (or, if Net Exercise is applicable to such series, the second trading day) following such twentieth (20th) trading day (unless Opendoor sets a later expiration date pursuant to the warrant agreement)." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b56", + "block_sequence": 56, + "block_sha256": "97788acd71dabd66098ded25aad0312fc80c5c0ebd36d59c16192421ae2331db", + "block_type": "paragraph", + "char_count": 303, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 56, + "char_end": 303, + "char_start": 0, + "fragment_sha256": "09b200b51a764adfbbf75e37cc871f22dae8012e7b8ac92ab86440e4060614f3", + "heading_path": [ + "EXHIBIT 99.2", + "What triggers an early expiration?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s30", + "table": null, + "text": "The \u201cEarly Expiration Trigger Price\u201d for each series will initially be equal to 120% of the exercise price of such series, subject to adjustment in accordance with the warrant agreement. The initial Early Expiration Trigger Price for each series is: Series K - $10.80 Series A - $15.60 Series Z - $20.40" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b57", + "block_sequence": 57, + "block_sha256": "8c6e0db4395b1782f501c184824e42aec08a6331acfc675b76936720bc01d4d7", + "block_type": "heading", + "char_count": 82, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 57, + "char_end": 82, + "char_start": 0, + "fragment_sha256": "5066ad9ece950aafb629c3941ef06893931e9d3dfa099ac3d61aa3c2b81a99aa", + "heading_path": [ + "EXHIBIT 99.2", + "How will I be notified if an early\u2011expiration price condition is met for a series?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s31", + "table": null, + "text": "How will I be notified if an early\u2011expiration price condition is met for a series?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b58", + "block_sequence": 58, + "block_sha256": "6c3e9c7213336419e369c14c630ed0ede9449cf59afbf41729f5a2257cf7612d", + "block_type": "paragraph", + "char_count": 314, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 58, + "char_end": 314, + "char_start": 0, + "fragment_sha256": "473b011fbcf8e5574325b215f5c699e14e7a175da34cd99ab1ffc5bf4962351c", + "heading_path": [ + "EXHIBIT 99.2", + "How will I be notified if an early\u2011expiration price condition is met for a series?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s31", + "table": null, + "text": "Opendoor will issue a public press release if a series of warrants meets its Early Expiration Price Condition and is subject to early expiry. The notice will specify which series is affected and the corresponding expiration date (or any later expiration date elected by Opendoor pursuant to the warrant agreement)." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b59", + "block_sequence": 59, + "block_sha256": "36e9c867654d413178ed65a9fc15b32ec375f0e78398f27b2f02b550aee7c107", + "block_type": "heading", + "char_count": 74, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 59, + "char_end": 74, + "char_start": 0, + "fragment_sha256": "64b7845d6a3ab117acb4333d22274d2f89281a83426917157b0ecb9d38e9390c", + "heading_path": [ + "EXHIBIT 99.2", + "Can Opendoor set a later expiration date after the price condition is met?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s32", + "table": null, + "text": "Can Opendoor set a later expiration date after the price condition is met?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b60", + "block_sequence": 60, + "block_sha256": "8688f7173389f99df890cd8a82377b693ef8cb7ad28c312f12b365ac7946b81d", + "block_type": "paragraph", + "char_count": 229, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 60, + "char_end": 229, + "char_start": 0, + "fragment_sha256": "12abc7b6e158c9babb8690313daf290a312b80030634b5f081ea380834531757", + "heading_path": [ + "EXHIBIT 99.2", + "Can Opendoor set a later expiration date after the price condition is met?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s32", + "table": null, + "text": "Yes. Opendoor may set an alternate expiration date for a series of warrants, subject to the additional price condition and notice mechanics set forth in the warrant agreement. Any such election will be announced by press release." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b61", + "block_sequence": 61, + "block_sha256": "13c81b1a1573960766d2810ebd9f481c1565d2c220c430050739577f2da35577", + "block_type": "heading", + "char_count": 116, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 61, + "char_end": 116, + "char_start": 0, + "fragment_sha256": "499692e479cba5672b70b63d339966c545e139eef1f3ec19b956b86a40333144", + "heading_path": [ + "EXHIBIT 99.2", + "Can the Company choose an alternate expiration date for one series while others remain on their scheduled timelines?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s33", + "table": null, + "text": "Can the Company choose an alternate expiration date for one series while others remain on their scheduled timelines?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b62", + "block_sequence": 62, + "block_sha256": "7b89ff66a8fe3393acb02df21b59f748958f5df8c4a3c5ba8d4eb7f2d940b9b0", + "block_type": "paragraph", + "char_count": 236, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 62, + "char_end": 236, + "char_start": 0, + "fragment_sha256": "7daf1db399c7cd360d7fa092d3d4756113709544a8b37e1df761a4cd2e5822f0", + "heading_path": [ + "EXHIBIT 99.2", + "Can the Company choose an alternate expiration date for one series while others remain on their scheduled timelines?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s33", + "table": null, + "text": "Yes. The Company may set an alternate expiration date for a specific series of warrants in accordance with the warrant agreement, without affecting the timelines of the other series. Any such election will be announced by press release." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b63", + "block_sequence": 63, + "block_sha256": "1ca65bf294a2f60793464d87833b423e09679bae881583920a770b97db0dd64f", + "block_type": "heading", + "char_count": 64, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 63, + "char_end": 64, + "char_start": 0, + "fragment_sha256": "050bd736615a279a190aa18aea456a92f8116f1c939ba338bfb21bf727240d0d", + "heading_path": [ + "EXHIBIT 99.2", + "What happens if the Early Expiration Price Condition is not met?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s34", + "table": null, + "text": "What happens if the Early Expiration Price Condition is not met?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b64", + "block_sequence": 64, + "block_sha256": "00ad062ffdf58a4110d0df298d914f725b5cb9b0d3c27ccb20b8004f9da8c20f", + "block_type": "paragraph", + "char_count": 240, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 64, + "char_end": 240, + "char_start": 0, + "fragment_sha256": "b94d8bed142eaa25c76c0d973c20a15b2b8e239ec85ece595f50fb186699da40", + "heading_path": [ + "EXHIBIT 99.2", + "What happens if the Early Expiration Price Condition is not met?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s34", + "table": null, + "text": "Holders may exercise their warrants at any time before expiration. If the Early Expiration Price Condition is not met for a series of warrants, that series of warrants remains outstanding until its scheduled expiration on November 20, 2026." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b65", + "block_sequence": 65, + "block_sha256": "37aaf217c1075a457d499bf993e3e09d0d1281400c28c5f35f8eebe0faed53bf", + "block_type": "heading", + "char_count": 25, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 65, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "5ad042e9f82da812521faad028289af223ab9171962be28311c999c1d5855c6a", + "heading_path": [ + "EXHIBIT 99.2", + "Exercising and Settlement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s35", + "table": null, + "text": "Exercising and Settlement" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b66", + "block_sequence": 66, + "block_sha256": "1d1b98276abe5068403496aaff4d04e4d94c34eebabc2c969406bea9e3c62bd4", + "block_type": "heading", + "char_count": 31, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 66, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d7bfc139a2682b8c09581bdb6b2cefc66880ef34cc5c10b7b496305937351901", + "heading_path": [ + "EXHIBIT 99.2", + "How do I exercise the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s36", + "table": null, + "text": "How do I exercise the warrants?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b67", + "block_sequence": 67, + "block_sha256": "0e64da5a6e22acdc93a3f63dc06419709de84c9d063fe7eac1d762ce921d9416", + "block_type": "paragraph", + "char_count": 602, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 67, + "char_end": 602, + "char_start": 0, + "fragment_sha256": "1bbe950c81e62dda2706517ed5909a19fcdf8052c3f3cc527d8117ebe52a0107", + "heading_path": [ + "EXHIBIT 99.2", + "How do I exercise the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s36", + "table": null, + "text": "If you hold your warrants through a broker, you should discuss with your broker its procedures and timeline for effecting exercises on your behalf, because your broker may require you give notice using a particular method and may require an earlier deadline than close of business on the expiration date. If you are a registered holder of warrants, the procedures for exercise of such warrants will be set forth in the warrant agreement. To exercise the warrants, you must have funds available to pay the exercise price in cash, unless Opendoor elects to apply the Net Exercise feature described below." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b68", + "block_sequence": 68, + "block_sha256": "6f67b92c4fa67676d638e665fdfa1e3607891c0190909bdb37acc39eab12cd8f", + "block_type": "heading", + "char_count": 20, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 68, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "259941f342f6ec8b9a8339b1c0d30a132b16e899a6fc97e00f0e387a0e0ec8b3", + "heading_path": [ + "EXHIBIT 99.2", + "When can I exercise?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s37", + "table": null, + "text": "When can I exercise?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b69", + "block_sequence": 69, + "block_sha256": "38de140a3e70faf006555694d8ed18f762887ffe2e72e63c588485d879c4559b", + "block_type": "paragraph", + "char_count": 231, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 69, + "char_end": 231, + "char_start": 0, + "fragment_sha256": "10c50aa742955d2caf29cad7245814375a6be8fff49bf982c9b734c9711188cd", + "heading_path": [ + "EXHIBIT 99.2", + "When can I exercise?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s37", + "table": null, + "text": "At any time from the Distribution Date until the expiration date (or until any earlier deadline applied by your broker), which may occur early as described above, and subject to limited exceptions included in the warrant agreement." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b70", + "block_sequence": 70, + "block_sha256": "6dd3d48abae13c169a5d90a5212fa582e83156b041b0620e885c9b49a5aeaeca", + "block_type": "heading", + "char_count": 33, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 70, + "char_end": 33, + "char_start": 0, + "fragment_sha256": "7f3772c7efc9b10f3c30cd3c5764fdf62356fdb5fbdd69f1d607f3914612052f", + "heading_path": [ + "EXHIBIT 99.2", + "How can I pay the exercise price?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s38", + "table": null, + "text": "How can I pay the exercise price?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b71", + "block_sequence": 71, + "block_sha256": "05ece5c5363c58f332ffc897ab3df927d7c3504ccb9f92d1545e95bba3984cf3", + "block_type": "paragraph", + "char_count": 224, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 71, + "char_end": 224, + "char_start": 0, + "fragment_sha256": "50f26e0167aecbd7577e9d3bf4dcf8f8d5c53949c38633263ba1f8243099443c", + "heading_path": [ + "EXHIBIT 99.2", + "How can I pay the exercise price?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s38", + "table": null, + "text": "Payment is in cash (U.S. dollars) through your broker (if held in street name) or to the Warrant Agent (if you are a registered holder). Opendoor may, in its sole discretion, implement a Net Exercise feature described below." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b72", + "block_sequence": 72, + "block_sha256": "b603c3dc7ecd1606b484e16baf387070b3e711f4382b9fbab90b4df785af6674", + "block_type": "heading", + "char_count": 56, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 72, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "06f5e725fe0ead51723799dfb996c01d903696b5c59c113c5dfd273c40dc9c8a", + "heading_path": [ + "EXHIBIT 99.2", + "How are exercises settled? What happens upon settlement?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s39", + "table": null, + "text": "How are exercises settled? What happens upon settlement?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b73", + "block_sequence": 73, + "block_sha256": "45c2bc76774c3d5c85bc5fead04e0c463076bafc4d649eb0fc71f81e6ba58705", + "block_type": "paragraph", + "char_count": 802, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 73, + "char_end": 802, + "char_start": 0, + "fragment_sha256": "027b61409863b7958675fa3f76a59be07d91292864b54c254e86828737956b8e", + "heading_path": [ + "EXHIBIT 99.2", + "How are exercises settled? What happens upon settlement?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s39", + "table": null, + "text": "If you hold your warrants through a broker, settlement of exercises will be handled by your broker. If you are a registered holder of warrants, settlement of exercises will be done pursuant to the warrant agreement. Opendoor expects that following exercise and payment of applicable exercise price (or, if Net Exercise is applicable, following exercise), shares deliverable in connection with such exercise will be credited to your brokerage account (or, if you are a registered holder of warrants, credited to your registered account at our transfer agent). No fractional shares will be issued and any fraction will be rounded down. Unless Net Exercise is applicable, you will receive one share of common stock per warrant exercised (subject to any anti\u2011dilution adjustments in the warrant agreement)." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b74", + "block_sequence": 74, + "block_sha256": "3dbc27d93fd847c606a26eca0580b954184f27e2c4ea7765ade0cf658aea0ddd", + "block_type": "heading", + "char_count": 46, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 74, + "char_end": 46, + "char_start": 0, + "fragment_sha256": "f29d6ecb3dfd22a4decdf17e7fa6cfeb03425d8ef75dedafe531e7639e8f0b0e", + "heading_path": [ + "EXHIBIT 99.2", + "What happens if I do not exercise my warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s40", + "table": null, + "text": "What happens if I do not exercise my warrants?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b75", + "block_sequence": 75, + "block_sha256": "455665ec923e01382072b4cc1eeee0cf5b012a08581672e788e3ba3abe2dec59", + "block_type": "paragraph", + "char_count": 596, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 75, + "char_end": 596, + "char_start": 0, + "fragment_sha256": "480d8d24ecdbafecf18c9b651040bc9aed3da888926e20ab4e08e1c5f9d81ddc", + "heading_path": [ + "EXHIBIT 99.2", + "What happens if I do not exercise my warrants?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s40", + "table": null, + "text": "If you do not sell or exercise your warrants by the applicable expiration date, which may occur early as described above, such warrants will expire and have no value. Your rights under the warrants will lapse with no further action required or penalty. You can choose to hold the warrants until expiration, sell them, or exercise them before expiration. If you take no action, the warrants simply expire. If other warrant holders exercise and new shares of common stock are issued to them while you do not exercise your warrants, your percentage ownership in Opendoor\u2019s common stock will decline." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b76", + "block_sequence": 76, + "block_sha256": "2a12ec35b9c608f0c12c2c7ee80e47a5920912a58cea3150fc9a6d83b57b18b3", + "block_type": "heading", + "char_count": 89, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 76, + "char_end": 89, + "char_start": 0, + "fragment_sha256": "a579a0080d719376445877decada51e50200bd9e8341ce93b3ec502ea8d2e0e6", + "heading_path": [ + "EXHIBIT 99.2", + "Can my broker impose an earlier deadline to exercise than the Opendoor\u2019s expiration time?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s41", + "table": null, + "text": "Can my broker impose an earlier deadline to exercise than the Opendoor\u2019s expiration time?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b77", + "block_sequence": 77, + "block_sha256": "6ce5c1ef4d6339d785cfc3ea15bb19811d47c720710e1eafdfc5a585ffebfd99", + "block_type": "paragraph", + "char_count": 348, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 77, + "char_end": 348, + "char_start": 0, + "fragment_sha256": "73ea28068a856c5917fc6593f43118666b6ba0791b53c0e15516fcf9dcf241ce", + "heading_path": [ + "EXHIBIT 99.2", + "Can my broker impose an earlier deadline to exercise than the Opendoor\u2019s expiration time?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s41", + "table": null, + "text": "Yes. Your broker may require an earlier instruction deadline than the stated expiration time of the warrants and may require you to submit notices by specific methods. We recommend confirming your broker\u2019s procedures, cut\u2011offs and method of notice well in advance. Opendoor also intends to issue a public press release reminder ahead of expiration." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b78", + "block_sequence": 78, + "block_sha256": "80cb4bb2fd67c16e5c2eabbb916c5d33654a3ab838800b9bf7fb99630a99da2d", + "block_type": "heading", + "char_count": 33, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 78, + "char_end": 33, + "char_start": 0, + "fragment_sha256": "55084408b9b4e2deada05956da7532ea1e1df964cc993655fc12a1876a5658cd", + "heading_path": [ + "EXHIBIT 99.2", + "What is the Net Exercise feature?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s42", + "table": null, + "text": "What is the Net Exercise feature?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b79", + "block_sequence": 79, + "block_sha256": "65f93ec0fcc37907cb54d703af477a9ce346011778b7a102b20cd2d3d336a8e8", + "block_type": "paragraph", + "char_count": 430, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 79, + "char_end": 430, + "char_start": 0, + "fragment_sha256": "fabf721c943cdd266d00aa4f40738d9bedd112550b80292722c2320420efaa86", + "heading_path": [ + "EXHIBIT 99.2", + "What is the Net Exercise feature?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s42", + "table": null, + "text": "The warrants are initially exercisable only by paying the exercise price in cash. Opendoor may, at its sole discretion, in the future elect to apply a cash-less exercise (\u201cNet Exercise\u201d) feature as provided in the warrant agreement. If we do so, there will be no cash payable to exercise the warrants, and the number of shares deliverable pursuant to such net exercise feature will be determined pursuant to the warrant agreement." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b80", + "block_sequence": 80, + "block_sha256": "e6d21eae622aef8f733f408b3c669de59442f8381fbb734b2771d19293b7e552", + "block_type": "heading", + "char_count": 58, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 80, + "char_end": 58, + "char_start": 0, + "fragment_sha256": "67cbc84d16d2909c5c31929c0c980dc30f4852d690172110fd362407dab895d1", + "heading_path": [ + "EXHIBIT 99.2", + "How and when will Opendoor elect the Net Exercise feature?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s43", + "table": null, + "text": "How and when will Opendoor elect the Net Exercise feature?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b81", + "block_sequence": 81, + "block_sha256": "557d6559920d19c9d7b4e4f6231c09e7f42aa11e3f310542eac1d559c519d92a", + "block_type": "paragraph", + "char_count": 247, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 81, + "char_end": 247, + "char_start": 0, + "fragment_sha256": "cb85820290e753084fa1ab204b5eca995e7907da327fbcbe466d1713dfb033e2", + "heading_path": [ + "EXHIBIT 99.2", + "How and when will Opendoor elect the Net Exercise feature?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s43", + "table": null, + "text": "Opendoor may at any time elect to change the exercise method for any series of warrants from cash exercise to Net Exercise at any time and vice versa. Any such election will be announced by press release prior to the election becoming into effect." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b82", + "block_sequence": 82, + "block_sha256": "7273e3a113c68d4ee4fe8285d0e091095bb05c6b2cbb1b751aeb728888e15635", + "block_type": "heading", + "char_count": 103, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 82, + "char_end": 103, + "char_start": 0, + "fragment_sha256": "dd5321397b6cb67a1d0847f929ec060a450deef0b6ee26233141c1611f0f8dce", + "heading_path": [ + "EXHIBIT 99.2", + "How do I know how many shares I will receive if I exercise the warrants under the Net Exercise feature?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s44", + "table": null, + "text": "How do I know how many shares I will receive if I exercise the warrants under the Net Exercise feature?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b83", + "block_sequence": 83, + "block_sha256": "035f29015ee738593d28d7f47bec380000af5143af9a46ff2a008b5227e6a498", + "block_type": "paragraph", + "char_count": 462, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 83, + "char_end": 462, + "char_start": 0, + "fragment_sha256": "07426ed0ad017365582d0b793c7fddc0412264fa3e830dbf88adecd5c2a80292", + "heading_path": [ + "EXHIBIT 99.2", + "How do I know how many shares I will receive if I exercise the warrants under the Net Exercise feature?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s44", + "table": null, + "text": "The number of shares deliverable pursuant to the Net Exercise feature for any given series of warrants will be based on the excess of the volume-weighted average price of Opendoor\u2019s common stock as of the trading day prior to the exercise date, over the exercise price of such series of warrants, then divided by such volume-weighted average price. The warrant agreement will set forth how the shares deliverable pursuant to such Net Exercise will be calculated." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b84", + "block_sequence": 84, + "block_sha256": "fc1ce024d0daf5205c4e41cc979f1bc9bea187c1f2afbd726cd82d0d0831dc82", + "block_type": "heading", + "char_count": 22, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 84, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "5c2af4b58c9f6b2be843e34f379d68843433a3c2b556fa63bd41da9225b3d1c0", + "heading_path": [ + "EXHIBIT 99.2", + "Other holder scenarios" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s45", + "table": null, + "text": "Other holder scenarios" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b85", + "block_sequence": 85, + "block_sha256": "03b1630888c521f87535adffc1a2d55679a86470a9b0927712741d38d43bd31a", + "block_type": "heading", + "char_count": 74, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 85, + "char_end": 74, + "char_start": 0, + "fragment_sha256": "196e8b6e7f3bea1fd8e93205de81c3d5a36d969f084386b6d96201a4868c066f", + "heading_path": [ + "EXHIBIT 99.2", + "I hold listed call options on Opendoor. Do I receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s46", + "table": null, + "text": "I hold listed call options on Opendoor. Do I receive the warrant dividend?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b86", + "block_sequence": 86, + "block_sha256": "35f14c6eeab289c4172c8ad2b2d2eeb3b4b25d2535173e346316b8334247c056", + "block_type": "paragraph", + "char_count": 568, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 86, + "char_end": 568, + "char_start": 0, + "fragment_sha256": "3c6232c0ebeade7f71f8409e379046a739fdfaceadf82910e30bfa646b95c4b2", + "heading_path": [ + "EXHIBIT 99.2", + "I hold listed call options on Opendoor. Do I receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s46", + "table": null, + "text": "Only holders of record of shares of common stock as of the Record Date will receive the warrant dividend from Opendoor. Following the Record Date, the Options Clearing Corporation (\u201cOCC\u201d) may decide to adjust the terms of some or all listed options on Opendoor\u2019s common stock to account for the warrant dividend, which may include adjustments to the deliverable per contract or other terms. Market participants with long or short listed option positions should review any notices from the OCC to determine what adjustments to the terms of their options have been made." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b87", + "block_sequence": 87, + "block_sha256": "28c9cf8bb35d0fb582d3d243af25d2e4121a8344db0bbd1e902e087874ab80fa", + "block_type": "heading", + "char_count": 54, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 87, + "char_end": 54, + "char_start": 0, + "fragment_sha256": "10fb554a3388be4ee6dc25f462660b4485b1f5f57b1b6424b33f586b7b025d8f", + "heading_path": [ + "EXHIBIT 99.2", + "What if I hold a short position as of the Record Date?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s47", + "table": null, + "text": "What if I hold a short position as of the Record Date?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b88", + "block_sequence": 88, + "block_sha256": "555836c05cd8b0c31647359ba7b719faff58591ab0cd1e8e1e4d4b065d739b6f", + "block_type": "paragraph", + "char_count": 217, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 88, + "char_end": 217, + "char_start": 0, + "fragment_sha256": "c697cc71104ffb16e6b48e7311d354d1f7388ac0242f671aa54a3ac31a60ba4a", + "heading_path": [ + "EXHIBIT 99.2", + "What if I hold a short position as of the Record Date?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s47", + "table": null, + "text": "Opendoor believes that in most cases you will be required to deliver warrants to the lender of borrowed shares, unless the parties agree to another arrangement. You should discuss with your broker and/or stock lender." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b89", + "block_sequence": 89, + "block_sha256": "c145a7c39fc17ab64c36e17b842a39fd0e62eb005369090715e4c75632b43596", + "block_type": "heading", + "char_count": 48, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 89, + "char_end": 48, + "char_start": 0, + "fragment_sha256": "fcd6dd0dc148f8eed07ecfd23c76299a700c9002fae71ee332fbccae6f54f49d", + "heading_path": [ + "EXHIBIT 99.2", + "How are warrants handled in retirement accounts?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s48", + "table": null, + "text": "How are warrants handled in retirement accounts?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b90", + "block_sequence": 90, + "block_sha256": "a93fb4eeb3489cd22750068f0079646ade6bc53a4cca63ce5d750561f5123554", + "block_type": "paragraph", + "char_count": 377, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 90, + "char_end": 377, + "char_start": 0, + "fragment_sha256": "4c9d852513b39871520e324c5482fc1b25e89d27631290669260dbb2380bf96a", + "heading_path": [ + "EXHIBIT 99.2", + "How are warrants handled in retirement accounts?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s48", + "table": null, + "text": "While Opendoor expects that in some cases warrants will be credited to your retirement brokerage account if you hold shares as of the Record Date, exercising or selling warrants from within a retirement account may be subject to additional rules or restrictions, and Opendoor recommends that you discuss with your retirement broker, advisor and/or administrator, as applicable." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b91", + "block_sequence": 91, + "block_sha256": "f4fe2aff735e4ca95a0414c4a2102c45144c81e43c67a043bfb7697f4cba6c75", + "block_type": "heading", + "char_count": 65, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 91, + "char_end": 65, + "char_start": 0, + "fragment_sha256": "49b8b16e893305e14b0d89d926ea894ec66dd38dd2c7e734b5ad08530ecf1567", + "heading_path": [ + "EXHIBIT 99.2", + "Do non\u2011U.S. shareholders qualify to receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s49", + "table": null, + "text": "Do non\u2011U.S. shareholders qualify to receive the warrant dividend?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b92", + "block_sequence": 92, + "block_sha256": "b93eb0d948a34f0efc55988e8665afd7ab7b7ceff54236ad22e1520339567dd6", + "block_type": "paragraph", + "char_count": 296, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 92, + "char_end": 296, + "char_start": 0, + "fragment_sha256": "ae0bb13d0a8e1e98ad0aee43b92ca8e0f2eb77868f8e962f1e0a9e54979bce5e", + "heading_path": [ + "EXHIBIT 99.2", + "Do non\u2011U.S. shareholders qualify to receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s49", + "table": null, + "text": "We are not aware of restrictions on international shareholders receiving warrants if they hold Opendoor common stock as of the Record Date. Tax treatment may vary based on a holder\u2019s tax domicile as well as other factors, so both U.S. and non-U.S. shareholders should seek tax advice (see below)." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b93", + "block_sequence": 93, + "block_sha256": "1558e4dc3b7a17ca478577fe50d15a5ac22d5d9ef8fc3077246bab665ca15d4f", + "block_type": "heading", + "char_count": 94, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 93, + "char_end": 94, + "char_start": 0, + "fragment_sha256": "9926ea8b4298270b8245f806a5f57a7fd6ede285d47d0a20211233d8f145bfce", + "heading_path": [ + "EXHIBIT 99.2", + "I hold shares through a registered account at Equiniti. How do I receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s50", + "table": null, + "text": "I hold shares through a registered account at Equiniti. How do I receive the warrant dividend?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b94", + "block_sequence": 94, + "block_sha256": "1a63e45e07686b905cef2ab6c13c9ba1999e3b3a4cd2798aac1289c04509d8d0", + "block_type": "paragraph", + "char_count": 202, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 94, + "char_end": 202, + "char_start": 0, + "fragment_sha256": "6d3545302c333ea0a9164360fa19c5f90c2be98d22fe21ed931482a463673c4e", + "heading_path": [ + "EXHIBIT 99.2", + "I hold shares through a registered account at Equiniti. How do I receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s50", + "table": null, + "text": "If you hold shares of Opendoor\u2019s common stock through a registered account at Opendoor\u2019s stock transfer agent, Equiniti, warrants will be automatically credited to such account on the Distribution Date." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b95", + "block_sequence": 95, + "block_sha256": "532ce8a7dfc76acaf4fc85d0a42380d64ed86c97c2b3729788ec0f3f5d645eb3", + "block_type": "heading", + "char_count": 71, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 95, + "char_end": 71, + "char_start": 0, + "fragment_sha256": "2d3585e235e13f1e27b034ea9753322ac0f012492da8e94ce4251f932ec06343", + "heading_path": [ + "EXHIBIT 99.2", + "I hold Opendoor\u2019s convertible notes. Do I receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s51", + "table": null, + "text": "I hold Opendoor\u2019s convertible notes. Do I receive the warrant dividend?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b96", + "block_sequence": 96, + "block_sha256": "382ea919482eee9d782b23d83f3f18dd25bb191d87efdbbcfe2979a09959468d", + "block_type": "paragraph", + "char_count": 164, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 96, + "char_end": 164, + "char_start": 0, + "fragment_sha256": "094cd00ef9ecc273796e2a223b90aa3d0fa55dd47c1eafb10bc0231e706a69e3", + "heading_path": [ + "EXHIBIT 99.2", + "I hold Opendoor\u2019s convertible notes. Do I receive the warrant dividend?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s51", + "table": null, + "text": "Please refer to the Company\u2019s Form 8-K for full details. Holders should also review the note-specific disclosures and the warrant agreement when filed with the SEC." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b97", + "block_sequence": 97, + "block_sha256": "c8bb0ca2b20b3317daeadb37334763690100e4b35f814edb6cfed3944f709feb", + "block_type": "heading", + "char_count": 26, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 97, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "658ede01ed64ac11ed53661a049e0832571f6a30defbd8b2e1cabf85aef7d517", + "heading_path": [ + "EXHIBIT 99.2", + "Proceeds, Dilution and Tax" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s52", + "table": null, + "text": "Proceeds, Dilution and Tax" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b98", + "block_sequence": 98, + "block_sha256": "a8d89643ecc8eb904cb0053e1491cea261469d7fd5350652521ce5faa470dad7", + "block_type": "heading", + "char_count": 30, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 98, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "a1a7a8eb7421a73766470d4b20da20f4da2a4dfaeff0302cdb1735c5ed2bc625", + "heading_path": [ + "EXHIBIT 99.2", + "Will this dilute my ownership?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s53", + "table": null, + "text": "Will this dilute my ownership?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b99", + "block_sequence": 99, + "block_sha256": "723584a89fd2e29f57796175657bb3d792f005837dbd65aaa037c83729e90b73", + "block_type": "paragraph", + "char_count": 330, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 99, + "char_end": 330, + "char_start": 0, + "fragment_sha256": "0d0d8fdfa4465e8dc210cf21d3086305c34e5849139cc7347365663e77ddc93d", + "heading_path": [ + "EXHIBIT 99.2", + "Will this dilute my ownership?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s53", + "table": null, + "text": "There is no immediate dilution to Opendoor shareholders upon distribution of the warrants. Shares are issued only upon exercise of the warrants. If you receive a warrant and decide to sell it in the market for cash or determine not to exercise it, you may be diluted to the extent that any warrants are exercised by other holders." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b100", + "block_sequence": 100, + "block_sha256": "366ccc7d1bfaeca76d699c5b24a6b70f1dab9562104e17f70c6cdf07410e0ff4", + "block_type": "heading", + "char_count": 39, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 100, + "char_end": 39, + "char_start": 0, + "fragment_sha256": "a73f6551f9cad89cfe191b98ae3a1e5bda62fda2f377db1dbcbc1d697875f08a", + "heading_path": [ + "EXHIBIT 99.2", + "How many total warrants will be issued?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s54", + "table": null, + "text": "How many total warrants will be issued?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b101", + "block_sequence": 101, + "block_sha256": "8479c791e1158850053113987bb0d6581f9ef63c17f18bb42d6475a388b0e9d7", + "block_type": "paragraph", + "char_count": 123, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 101, + "char_end": 123, + "char_start": 0, + "fragment_sha256": "541cbf54a52b1804dd965b092288424a6c076bfd7a78b141b144393ed2fb7e34", + "heading_path": [ + "EXHIBIT 99.2", + "How many total warrants will be issued?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s54", + "table": null, + "text": "The aggregate number of warrants issued will be disclosed at or before distribution. No fractional warrants will be issued." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b102", + "block_sequence": 102, + "block_sha256": "cf095c0100de71968bf68ff9f34394c8bde7de5396e7d5c53755c8d355fa6f92", + "block_type": "heading", + "char_count": 60, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 102, + "char_end": 60, + "char_start": 0, + "fragment_sha256": "017642187380473e83baa856316303219d81d282b463c0a0dbf224fe9f2ecdc5", + "heading_path": [ + "EXHIBIT 99.2", + "How much cash could be raised if all warrants are exercised?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s55", + "table": null, + "text": "How much cash could be raised if all warrants are exercised?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b103", + "block_sequence": 103, + "block_sha256": "75549e7cfba6ecc9f3e80b38bbbeeb9efe9f39c1e6f04c431eadd99174153b87", + "block_type": "paragraph", + "char_count": 749, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 103, + "char_end": 749, + "char_start": 0, + "fragment_sha256": "f42c78e410a420c6d85ca718c3dc974cd9a20b4d8e6f746c43a37d8e94db3b69", + "heading_path": [ + "EXHIBIT 99.2", + "How much cash could be raised if all warrants are exercised?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s55", + "table": null, + "text": "The amount of cash we raise will depend on the number of warrants exercised for cash. We won\u2019t know how many warrants will be issued until after the Distribution Date. We also won\u2019t know how many warrants will be exercised for cash or for cash-less exercise, if we later choose to implement the Net Exercise feature. If all warrants are exercised for cash, gross proceeds would equal the number of warrants exercised multiplied by the applicable exercise price. We will disclose the total number of warrants issued in aggregate and by series on the Distribution Date. You can then compute: Series K = Series K Warrants issued \u00d7 $9.00 Series A = Series A Warrants issued \u00d7 $13.00 Series Z = Series Z Warrants issued \u00d7 $17.00 Total = Sum of the above." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b104", + "block_sequence": 104, + "block_sha256": "e86038f6ea4253af9caec1a0f6fb0dd2f86095827e689ca71b0ea9703f88bf60", + "block_type": "heading", + "char_count": 55, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 104, + "char_end": 55, + "char_start": 0, + "fragment_sha256": "15e1a5f410c4272e6cd10036735e7688cb1c331d6a09412ae64696d11c50029a", + "heading_path": [ + "EXHIBIT 99.2", + "What will Opendoor do with any proceeds from exercises?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s56", + "table": null, + "text": "What will Opendoor do with any proceeds from exercises?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b105", + "block_sequence": 105, + "block_sha256": "7e6287fa22daa08c40306fbe4f110bffb13679caefb45583de4f2de9c71da3ef", + "block_type": "paragraph", + "char_count": 138, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 105, + "char_end": 138, + "char_start": 0, + "fragment_sha256": "ad138680d7bd475bcff7b4a3c87091e0e623cbae84bfde78d4ce2ea649b8561f", + "heading_path": [ + "EXHIBIT 99.2", + "What will Opendoor do with any proceeds from exercises?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s56", + "table": null, + "text": "If exercised for cash, we currently expect to use proceeds for general corporate purposes, including investments and growth opportunities." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b106", + "block_sequence": 106, + "block_sha256": "b9368627b5d0778b14f0c52c0ff8e970520206facae798799db03418de030ced", + "block_type": "heading", + "char_count": 59, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 106, + "char_end": 59, + "char_start": 0, + "fragment_sha256": "8eff066323f924a4ff26aa2bb79f7e8410a4f22311239a9e9dc1e92178842612", + "heading_path": [ + "EXHIBIT 99.2", + "How are the warrants taxed? Should I consult a tax advisor?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s57", + "table": null, + "text": "How are the warrants taxed? Should I consult a tax advisor?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b107", + "block_sequence": 107, + "block_sha256": "0597ec1245be62dc34538007ad63c634f045fc6c0ca0647bbd23531ca005ad5a", + "block_type": "paragraph", + "char_count": 339, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 107, + "char_end": 339, + "char_start": 0, + "fragment_sha256": "446d0efac6b7e5d950bee3f1dbd387d782aecb3f3ea61f45e78d7ab9ef72c3b4", + "heading_path": [ + "EXHIBIT 99.2", + "How are the warrants taxed? Should I consult a tax advisor?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s57", + "table": null, + "text": "The U.S. federal income tax treatment of the warrant distribution, and any future exercise of the warrants, may vary based on an investor\u2019s specific circumstances. Opendoor does not provide tax advice. Regardless of tax domicile, all investors are encouraged to consult their tax advisor regarding the potential impact of the distribution." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b108", + "block_sequence": 108, + "block_sha256": "c1b85bb429f19019fc5c3e2ac8d08ee43d3be1bd13cee665c4ebc8a20c06dc6e", + "block_type": "heading", + "char_count": 22, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 108, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "76df26e6785eb7f9a36272878070268d757a29f1c9c8a99ef44692d9341de291", + "heading_path": [ + "EXHIBIT 99.2", + "Documents and Contacts" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s58", + "table": null, + "text": "Documents and Contacts" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b109", + "block_sequence": 109, + "block_sha256": "b0c1018683de33eaf571b5ce68b5d6ed108543b153a230e88fec79db7fd750d4", + "block_type": "heading", + "char_count": 64, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 109, + "char_end": 64, + "char_start": 0, + "fragment_sha256": "971e963e676ade6e87ff56517fd75463f93bacbded87adbbc2d8e09e052fbbfe", + "heading_path": [ + "EXHIBIT 99.2", + "Where will I find the full warrant agreement and official terms?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s59", + "table": null, + "text": "Where will I find the full warrant agreement and official terms?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b110", + "block_sequence": 110, + "block_sha256": "670c06705ce052d950639e26c5f9d17f7157dcd7d3280203f53bc248719a5e2f", + "block_type": "paragraph", + "char_count": 256, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 110, + "char_end": 256, + "char_start": 0, + "fragment_sha256": "b2c7b6d0610b5fb2daf12debff0c2266f628bf01a8deecf0261b75b88a3bb690", + "heading_path": [ + "EXHIBIT 99.2", + "Where will I find the full warrant agreement and official terms?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s59", + "table": null, + "text": "The official terms are set forth in the warrant agreement filed with the SEC. Opendoor expects to file the warrant agreement with the SEC on or prior to the Distribution Date. The warrant agreement will be available on the SEC\u2019s EDGAR system (www.sec.gov)." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b111", + "block_sequence": 111, + "block_sha256": "b264f9bc0adc6cddca0d266dbf67f4a26f566086d5d72748f19f95ca706f7cab", + "block_type": "heading", + "char_count": 45, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 111, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "f4cf0d88bc45686f71cb74941b74bb7a7dde787cab6300f2ae6adbfdd0f36379", + "heading_path": [ + "EXHIBIT 99.2", + "Does this FAQ replace the official documents?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s60", + "table": null, + "text": "Does this FAQ replace the official documents?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b112", + "block_sequence": 112, + "block_sha256": "a1a8f23e81b65d22baa35ac5750bc1853b18d85c4c495a5a815892fc43f01c6b", + "block_type": "paragraph", + "char_count": 276, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 112, + "char_end": 276, + "char_start": 0, + "fragment_sha256": "8e4cbe19f0425880d47f85e352f707b767b2e508fcaf1e77009649aa4be94277", + "heading_path": [ + "EXHIBIT 99.2", + "Does this FAQ replace the official documents?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s60", + "table": null, + "text": "No. This FAQ is a general summary and does not cover every term or circumstance. If there is any inconsistency between this FAQ and the warrant agreement, the warrant agreement will prevail. Please refer to the version of the warrant agreement filed on the SEC\u2019s EDGAR system." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b113", + "block_sequence": 113, + "block_sha256": "c398be5f3c4df5748bc327fc4b2b308dafca339f0954425f66c9495d424a0864", + "block_type": "heading", + "char_count": 38, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 113, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "e9f2d8cb280006af9bd873fce6f8e7f180811793487a6c68bfc9cf057984b53a", + "heading_path": [ + "EXHIBIT 99.2", + "Can Opendoor change the warrant terms?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s61", + "table": null, + "text": "Can Opendoor change the warrant terms?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b114", + "block_sequence": 114, + "block_sha256": "ae75680da1135d9ea4f8281208b527f87541ada64166d35b988d2fc15a5574b6", + "block_type": "paragraph", + "char_count": 129, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 114, + "char_end": 129, + "char_start": 0, + "fragment_sha256": "ea4304330c888319c45a33db34a0b137018434a87c7c073a438c44a66dd0071a", + "heading_path": [ + "EXHIBIT 99.2", + "Can Opendoor change the warrant terms?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s61", + "table": null, + "text": "The procedures relating to any amendments or adjustments to the terms of the warrants will be set forth in the warrant agreement." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b115", + "block_sequence": 115, + "block_sha256": "9b3faa80220a808b68f56e42469b8c77f0a7ba2d71cc766d20b09aec661389fc", + "block_type": "heading", + "char_count": 66, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 115, + "char_end": 66, + "char_start": 0, + "fragment_sha256": "25d16acf752b04b35a686aa76d1304d048db570a8a815b27dc9b5fbe536af52d", + "heading_path": [ + "EXHIBIT 99.2", + "Where can I get ongoing updates that are relevant to the warrants?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s62", + "table": null, + "text": "Where can I get ongoing updates that are relevant to the warrants?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b116", + "block_sequence": 116, + "block_sha256": "e1f061d476fbf763383a8aa4f0275a0c7ca94e11ac3b4200e5616ab6712f03b9", + "block_type": "paragraph", + "char_count": 525, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 116, + "char_end": 525, + "char_start": 0, + "fragment_sha256": "a1c9f82848be9757f471b83622c4f4dd2ea1a4aa44f41be864cc9ff4f7ab502a", + "heading_path": [ + "EXHIBIT 99.2", + "Where can I get ongoing updates that are relevant to the warrants?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s62", + "table": null, + "text": "Opendoor will issue public press releases and update the Investor Relations section of its website for key events related to the warrants, including Early Expiration Price Condition notices, any election of an alternate expiration date, and any notice of an exercise suspension period or related settlement mechanics. Please monitor our press releases and IR website for these updates. For official terms and changes permitted under the warrant agreement, please refer to our SEC filings available on the SEC\u2019s EDGAR website." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b117", + "block_sequence": 117, + "block_sha256": "5a7d8e281c8c878c78a28daab41ba04b0319018b1161ecc0951e434e9cd46201", + "block_type": "heading", + "char_count": 33, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 117, + "char_end": 33, + "char_start": 0, + "fragment_sha256": "38c647522ab1d7bfb4ec5085d10f4e41c0ba13eadf088572d01d4f8d6e4cc85f", + "heading_path": [ + "EXHIBIT 99.2", + "Where can I get more information?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s63", + "table": null, + "text": "Where can I get more information?" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b118", + "block_sequence": 118, + "block_sha256": "c6c35cfdf5c29fba5d2def57bff1523b31ce9f3a9ab1f5929da48a36cb92822c", + "block_type": "paragraph", + "char_count": 134, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 118, + "char_end": 134, + "char_start": 0, + "fragment_sha256": "cf4fa06f1765978a226e0d5a672e820abac673b0ac28c326021b7849258c1f07", + "heading_path": [ + "EXHIBIT 99.2", + "Where can I get more information?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s63", + "table": null, + "text": "Please see our SEC filings and the Investor Relations section of our website, or contact Investor Relations at investors@opendoor.com." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b119", + "block_sequence": 119, + "block_sha256": "3adb8d40de63876c70840a64990fc0c3ae45f7c1a7646e7a820a672d398453f6", + "block_type": "heading", + "char_count": 24, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 119, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "9ba5438b5e440fa7c63fe4ec9f90d59271db4c7a68824ace24062ea3a17dd579", + "heading_path": [ + "EXHIBIT 99.2", + "No Offer or Solicitation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s64", + "table": null, + "text": "No Offer or Solicitation" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b120", + "block_sequence": 120, + "block_sha256": "8c2affc6eb92a1cda5bc504b649cb6f7922dbe7c1ea01a6e01bb2325c82941d7", + "block_type": "paragraph", + "char_count": 923, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 120, + "char_end": 923, + "char_start": 0, + "fragment_sha256": "2891bd8d2ab79c5d76645d83f959a64ea4a93f007f0411add2e06319d0fb6c97", + "heading_path": [ + "EXHIBIT 99.2", + "No Offer or Solicitation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s64", + "table": null, + "text": "This FAQ shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants will be filed with the SEC and will be available on the SEC\u2019s website located at http://www.sec.gov. Holders should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein." + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b121", + "block_sequence": 121, + "block_sha256": "1d8469bf9c663edb3c938b337e8eb7b6386c9f6dc8633427fe813d5f0ad02182", + "block_type": "heading", + "char_count": 26, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 121, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "249bb715f834bbea5ae9b05a0ebb13ee306ba920b895395890fac869229283f7", + "heading_path": [ + "EXHIBIT 99.2", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s65", + "table": null, + "text": "Forward Looking Statements" + }, + { + "block_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b122", + "block_sequence": 122, + "block_sha256": "f77a930882a215e310adeaf294e90c3255bfb84cf2f888d7ded9b4c855fa372a", + "block_type": "paragraph", + "char_count": 2602, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "block_sequence": 122, + "char_end": 2602, + "char_start": 0, + "fragment_sha256": "bb477b1da1f1bdc6e995e1956b2bc36c12b74f9a1cc1392998ea682fcc6db02b", + "heading_path": [ + "EXHIBIT 99.2", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s65", + "table": null, + "text": "This FAQ contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this FAQ that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Company\u2019s expectations regarding the Warrant Distribution; the anticipated Record Date, Distribution Date and expiration date for the Warrants; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; the price of the Warrants and the existence of a market for the Warrants; and the potential for upside to holders of the Warrants. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in the Company\u2019s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company\u2019s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations." + } + ], + "cik": 1801169, + "cik10": "0001801169", + "company_name": "Opendoor Technologies Inc.", + "config_hash": "a8e88d258eb39664414697e0926a7d29600e676d9810ec79743c3c9490c9d4a1", + "content_sha256": "b5aeed4df9b0954a7fc48a38e28ba4c39901b3032c3dcf6679a703a29949204a", + "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", + "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", + "document_type": "shareholder_letter", + "exhibit_type": "EX-99.2", + "filing_date": "2025-11-06", + "filing_id": "sec:0001801169:0001140361-25-040804", + "flags": [], + "form": "8-K", + "form_sanitized": "8-K", + "is_amendment": false, + "items": [ + "7.01", + "8.01", + "9.01" + ], + "normalizer_version": "1.0.0", + "original_filename": "ny20058304x2_ex99-2.htm", + "parser_fallback_from": null, + "parser_fallback_reason": null, + "parser_name": "sec_html", + 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By issuing tradable warrants at no upfront cost to shareholders, we are giving them greater ability to share in the upside, just as management does. Shareholders can choose to sell the warrants immediately or hold them with the potential to benefit alongside the Company as we execute our plan. This is our first step in rebuilding trust and creating a model with better alignment between the people who run the company and the people who own it."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b11"], "char_count": 210, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "be95dcbe69928a5301f313bd552dfa22e0148c54ac93d08c6582ab8ee2049e2f", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What is a warrant?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 11, "char_end": 210, "char_start": 0, "fragment_sha256": "293c97aa1279da1cf04cbe28f38ccd31345a89e9697f369a5bea837360df8d3d", "heading_path": ["EXHIBIT 99.2", "What is a warrant?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s7", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "A warrant is an option issued by the Company that gives the holder the right, but not the obligation, to purchase one share of Opendoor’s common stock at a specified “exercise price” before the warrant expires."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b13"], "char_count": 352, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6ef0f1c2cd54674d8e3545301a119ee40086d76d2fc885d2397f0c18f2bab7b9", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What is a warrant dividend distribution?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 13, "char_end": 352, "char_start": 0, "fragment_sha256": "435bb5ab10684affcbe69854cef6d8a2840f2a2facc1e1c352434559eaae93d0", "heading_path": ["EXHIBIT 99.2", "What is a warrant dividend distribution?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s8", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The warrant dividend is a distribution of warrants by Opendoor to all existing holders of common stock. As with a cash dividend, shareholders do not need to pay any amount or take any other action to receive the distribution. In the case of a warrant dividend the asset being distributed to all shareholders is in the form of a warrant instead of cash."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b15"], "char_count": 1358, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "18d6649bf1bb6b834a462c799c15e30c5c85a26f1a07d8e781e428313a220ef8", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Key highlights"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 15, "char_end": 1358, "char_start": 0, "fragment_sha256": "7e8c75f04d23d348bba45ad50cba3eabe923abaeb6cb3f1730ee502550566f95", "heading_path": ["EXHIBIT 99.2", "Key highlights"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s9", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "● No action required, and at no cost: For every thirty (30) shares owned on the Record Date, holders receive one warrant of each series (rounded down) - Series K, A, and Z. ● Built for upside and alignment: Exercise prices are set at $9 (Series K), $13 (Series A), and $17 (Series Z), which we believe aligns value creation with performance, in lock-step with management. ● Immediate liquidity and choice: The warrants are expected to be listed on Nasdaq under the symbols OPENW, OPENL, and OPENZ (subject to approval), so holders will be able to monetize the warrant right away or hold for potential upside. ● Not dilutive at issuance: Because the warrants only convert into shares if exercised, there is no dilution today. This is a structural design choice that helps to protect current shareholders today while still enabling upside participation. If you receive a warrant and decide to sell it in the market for cash or determine not to exercise it, you may be diluted to the extent that other holders exercise any warrants. ● Balance sheet friendly: If exercised for cash, proceeds bring in capital to enhance flexibility to advance our strategy, accelerate our roadmap and pursue opportunistic investments while further strengthening the balance sheet. ● This Shareholder FAQ will be updated regularly to reflect questions coming in from shareholders."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b17"], "char_count": 216, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a6ed4b25517c1067622e2ebed9dd44b753a8b7026c068b4de717127247e6d4da", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Key dates and tickers"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 17, "char_end": 216, "char_start": 0, "fragment_sha256": "76cae1189b4b31f3ec5f1010ed90d31694c2a44fc66cf56a9054798a8db681e4", "heading_path": ["EXHIBIT 99.2", "Key dates and tickers"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s10", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "● Record Date: November 18, 2025, 5:00 p.m. New York City time ● Distribution Date: On or about November 21, 2025 ● Scheduled expiration: November 20, 2026, subject to Early Expiration Price Condition described below"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b19"], "char_count": 70, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3b6883d28800102bb6e03fa78dd116f9ed6b5f11c81756683ffa9a24eef5995b", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "● Intended Nasdaq tickers:"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 19, "char_end": 70, "char_start": 0, "fragment_sha256": "54b85de34ab2450fc57623a65bf27c2f988acc44cae1acb7f52d692e815bb2d4", "heading_path": ["EXHIBIT 99.2", "● Intended Nasdaq tickers:"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s11", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "○ Series K ($9): OPENW ○ Series A ($13): OPENL ○ Series Z ($17): OPENZ"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b21"], "char_count": 708, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2fae254ee9aa5d3b72bacd7f8fa26e9a2bd9ed3ff76875c6e2460dbb2d915b92", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Who will receive the warrants and how many warrants will be received?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 21, "char_end": 708, "char_start": 0, "fragment_sha256": "3fa23c339e40b062b792a8f62242829a599b2657cd99660443ff1fda0141ec0a", "heading_path": ["EXHIBIT 99.2", "Who will receive the warrants and how many warrants will be received?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s12", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Holders of Opendoor’s common stock will receive one (1) Series K warrant, one (1) Series A warrant, and one (1) Series Z warrant for each thirty (30) shares of common stock held as of the Record Date (rounded down to the nearest whole number). As an example, a shareholder who owns 63 or 73 shares of common stock would receive two (2) of each of the Series K warrants, Series A warrants, and Series Z warrants, or six (6) warrants in total. A shareholder who owns 90 shares of common stock would receive three (3) of each of the Series K warrants, Series A warrants, and Series Z warrants, or nine (9) warrants in total. Fractional warrants will not be issued. Per‑account rounding may apply at your broker."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b23"], "char_count": 593, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "336aa9647784724c32178d55806eda38f408660f2eba50ed599c4401cc6b9060", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "My shares are in a margin account (and/or my shares were on loan) as of the Record Date. How are my warrants handled?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 23, "char_end": 593, "char_start": 0, "fragment_sha256": "761e0c298f7434d53108b6fe6cd9028721a7d6ef246cc633fd31a33f1d6f6e86", "heading_path": ["EXHIBIT 99.2", "My shares are in a margin account (and/or my shares were on loan) as of the Record Date. How are my warrants handled?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s13", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If your shares of common stock are being pledged as collateral or loaned out as of the Record Date, you may not be the shareholder of record and may not receive the warrant dividend directly. Brokers may post “in‑lieu of” warrant credits in some cases. We believe that in some cases you may need to transfer your shares from a margin account to a non-margin account (sometimes referred to as a cash account or fully paid-for account) before the Record Date to receive the warrant dividend. Contact your broker to confirm your entitlement and the form of credit, as practices vary across firms."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b25"], "char_count": 30, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7f21efb3921a6748ba182290833ec146a2a55aa39e230b1bb01a00ae53533cb6", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "When will the warrants be distributed?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 25, "char_end": 30, "char_start": 0, "fragment_sha256": "f3428f8eed31b6279fd302c539369a19d4611fd82ee090ce7a27da1e14b9c883", "heading_path": ["EXHIBIT 99.2", "When will the warrants be distributed?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s14", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "On or about November 21, 2025."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b27"], "char_count": 282, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3a624030b11b9fe597e5fceb6a521533f6550eeaf44164eb3d2d031c332e3ac1", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What is the last day I can buy shares and still receive the warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 27, "char_end": 282, "char_start": 0, "fragment_sha256": "3b6ecec8852b8613375d2b7e10d13de4a44ef5e7abfecf7bae7b0bd5631be55b", "heading_path": ["EXHIBIT 99.2", "What is the last day I can buy shares and still receive the warrants?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Purchases generally must settle in time for you to be a shareholder of record as of the Record Date. Typically, that means buying no later than the trading day before such date so that settlement occurs by the Record Date. Please confirm specific settlement timing with your broker."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b30"], "char_count": 248, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "195092dc0125243d08ddc81657a6f795cfc2ce667209ab51cb464b39e78113ed", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What do I have to do to receive the warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 30, "char_end": 248, "char_start": 0, "fragment_sha256": "3b4d09ab43ed6afc0076e4086775e32ae41ab54fabaf878006bc324596c23f64", "heading_path": ["EXHIBIT 99.2", "What do I have to do to receive the warrants?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "In most cases no action is required if you are a shareholder as of the Record Date and you have not lent out your shares to your broker or other parties, but we advise that you confirm this with your broker. Processing timelines may vary by broker."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b32"], "char_count": 485, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "91497e8a6e455f74ed5189abba4fa15c2c992dc7411e18b04ce8fead25476843", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "My warrants are not showing up in my brokerage account. What should I do?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 32, "char_end": 485, "char_start": 0, "fragment_sha256": "a88ab763f2ecfee4aafec1ca350ea2ce2716eb2cadaf4d91ae3e7aabdc0c3791", "heading_path": ["EXHIBIT 99.2", "My warrants are not showing up in my brokerage account. What should I do?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s18", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Typically, your broker will be responsible for crediting your account with warrants if you hold shares as of the Record Date and such shares are not being pledged as collateral or loaned out. If your shares are being pledged as collateral or loaned out, other mechanics may apply. In all cases you would need to contact your broker directly for confirmation and for any other information regarding timing and access to warrants, including the mechanics for warrant sales and exercises."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b34"], "char_count": 238, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "938602d578b196107095d1c305e06c7841a94d6aa3978c2b96dc5ad2f3bf0b70", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Will the warrants trade publicly? When will trading begin?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 34, "char_end": 238, "char_start": 0, "fragment_sha256": "5ef6a49db5aab19f29d76d30ff5998a6a3b91982071fd79883a9d5f07b7532c0", "heading_path": ["EXHIBIT 99.2", "Will the warrants trade publicly? When will trading begin?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Opendoor intends to list the warrants on Nasdaq. You may trade them soon after you receive them. You may hold, sell, or exercise each series independently. Trading is expected to begin on the first trading day after the Distribution Date."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b36"], "char_count": 115, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dd3bada8e40e185b389141feaa96769e63ebf7edb884ae16fca88273b4fbb6fe", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What are the tickers?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 36, "char_end": 115, "char_start": 0, "fragment_sha256": "b97501f33341a83ff4a518efb462202631a7fd7e66fbb839baced7b7c233271c", "heading_path": ["EXHIBIT 99.2", "What are the tickers?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s20", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Each series of warrants are expected to trade under its own symbol: Series K: OPENW Series A: OPENL Series Z: OPENZ"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b38"], "char_count": 158, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "92fdddb87ca6c7f200e5062af9a4a0914ebd599958d8dc8df83212afd26c211f", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Can I sell or transfer the warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 38, "char_end": 158, "char_start": 0, "fragment_sha256": "40e66ddca4297290e8686bdb8032fd81aeaf87dc833c4e777e8643558c35b8f6", "heading_path": ["EXHIBIT 99.2", "Can I sell or transfer the warrants?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Except for applicable securities laws and company policies that may apply to insiders, we are not aware of any restrictions on buying or selling the warrants."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b40"], "char_count": 448, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "547a8fd69a1cfda258e7200bba37cd7f4a9ef4888b40ea57b7445fbbfb1db47f", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Are there risks associated with the warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 40, "char_end": 448, "char_start": 0, "fragment_sha256": "8fe590d191ea3376c3c3d6dec2f276a6d80bc99f0753ca5e99590efe2c86f885", "heading_path": ["EXHIBIT 99.2", "Are there risks associated with the warrants?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s22", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Yes. Like any security, the warrants involve risks. For example, they could expire with no value if not exercised, trading/liquidity may be limited, and series‑specific early‑expiration can shorten the time to act. Please review the “Risk Factors” in Opendoor’s prospectus supplement that we intend to file in connection with the warrants and our other filings with the Securities and Exchange Commission (the “SEC”) for a more detailed discussion."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b42"], "char_count": 298, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d0cd189ec49a8d9935f5a4320b2d647cd0e925ffd8268fb1cada0af57f6efe02", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What happens to my warrants if I sell my Opendoor common stock after the Distribution Date?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 42, "char_end": 298, "char_start": 0, "fragment_sha256": "3bf1d325983191b90017b0015846212b86f51116147c88f6364ec40acf4a0367", "heading_path": ["EXHIBIT 99.2", "What happens to my warrants if I sell my Opendoor common stock after the Distribution Date?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p18", "passage_kind": "narrative", "passage_sequence": 18, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If you were a holder of record as of the Record Date, the warrants will remain in your account even if you later sell your shares of common stock. The warrants are separate securities and do not transfer automatically with the common stock. Check with your broker regarding account‑level mechanics."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b45"], "char_count": 385, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "684fb8aeb2d254c4bb69abc4e23eaa1a9c117d7a0536e16d3b2edcb3b636c303", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Are there three separate series? Can I hold/sell/exercise them independently?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 45, "char_end": 385, "char_start": 0, "fragment_sha256": "53c34a4af2dcc88e12c3245658a2eca783958310bfc7b0de23e08300254924b1", "heading_path": ["EXHIBIT 99.2", "Are there three separate series? Can I hold/sell/exercise them independently?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p19", "passage_kind": "narrative", "passage_sequence": 19, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Yes. The distribution includes three separate series of warrants, Series K, Series A, and Series Z. Each series is a distinct security with its own exercise price, trading symbol, and Early Expiration Price Condition (see below). You may hold, sell, or exercise each series independently. Exercise and expiration for one series do not affect the exercise or expiry of the other series."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b47"], "char_count": 49, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b5b0ff4207483782db9a315dd36cb6e1112674b2e28751d9d71d62dd4bbeb485", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What are the exercise prices?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 47, "char_end": 49, "char_start": 0, "fragment_sha256": "09c38e0de24d383b6c2bc77172219cecb5eb271102def12219e49f44a4cdafe0", "heading_path": ["EXHIBIT 99.2", "What are the exercise prices?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p20", "passage_kind": "narrative", "passage_sequence": 20, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s26", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Series K: $9.00 Series A: $13.00 Series Z: $17.00"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b50"], "char_count": 256, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4833140ca60729e9496639d45525d5d48f331fb8926638dcd084de52e318c8f6", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "When do the warrants expire?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 50, "char_end": 256, "char_start": 0, "fragment_sha256": "2a7ce91a03855ad00fda93700fa8e2082ee52d3d4c05088565ffd28569382199", "heading_path": ["EXHIBIT 99.2", "When do the warrants expire?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p21", "passage_kind": "narrative", "passage_sequence": 21, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s28", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Each series has its own expiration date. By default, each series will expire at 5:00 p.m. New York City time on November 20, 2026, unless that series satisfies its Early Expiration Price Condition. One series can expire while the others remain outstanding."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b52"], "char_count": 274, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "15be4bb2c61afe29af02ce5223e2db646b31c0a586a19e63137e9953bc0cf662", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "If one series expires early, what happens to the others?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 52, "char_end": 274, "char_start": 0, "fragment_sha256": "94964120c63400fab9b8d2107563f8fc530ead54673a08289cdf0c42301b6e24", "heading_path": ["EXHIBIT 99.2", "If one series expires early, what happens to the others?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p22", "passage_kind": "narrative", "passage_sequence": 22, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s29", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Nothing changes for the other series. Early expiration applies only to the series that met its Early Expiration Price Condition. Each remaining series remains exercisable until its own scheduled expiration date or until its own Early Expiration Price Condition is satisfied."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b54", "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b55", "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b56"], "char_count": 1149, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8707bdd5f1a19fb1dc601257ea8ab629aee28aae087b5386bf1902f14970a4b4", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What triggers an early expiration?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 54, "char_end": 468, "char_start": 0, "fragment_sha256": "f4a3502b2cf86519f0c10206812ded5a5132fa701ec64745e8e85fcbb0e20967", "heading_path": ["EXHIBIT 99.2", "What triggers an early expiration?"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 55, "char_end": 374, "char_start": 0, "fragment_sha256": "aaa49257181c8b63574348bd4af6673c7c9cb0abe98c40d29832a80585bcdf79", "heading_path": ["EXHIBIT 99.2", "What triggers an early expiration?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 56, "char_end": 303, "char_start": 0, "fragment_sha256": "09b200b51a764adfbbf75e37cc871f22dae8012e7b8ac92ab86440e4060614f3", "heading_path": ["EXHIBIT 99.2", "What triggers an early expiration?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s30", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Early expiration is determined independently for each series. The “Early Expiration Price Condition” will be satisfied if, within any period of thirty (30) consecutive trading days, there are at least twenty (20) trading days (whether or not consecutive) after the Distribution Date on which the daily volume-weighted average price of Opendoor’s common stock exceeds the applicable Early Expiration Trigger Price (as defined below) for a respective series of warrants.\n\nIn the event that the Early Expiration Price Condition is satisfied for a particular series, that series will expire at 5:00 p.m. New York City time on the first trading day (or, if Net Exercise is applicable to such series, the second trading day) following such twentieth (20th) trading day (unless Opendoor sets a later expiration date pursuant to the warrant agreement).\n\nThe “Early Expiration Trigger Price” for each series will initially be equal to 120% of the exercise price of such series, subject to adjustment in accordance with the warrant agreement. The initial Early Expiration Trigger Price for each series is: Series K - $10.80 Series A - $15.60 Series Z - $20.40"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b58"], "char_count": 314, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6c3e9c7213336419e369c14c630ed0ede9449cf59afbf41729f5a2257cf7612d", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How will I be notified if an early‑expiration price condition is met for a series?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 58, "char_end": 314, "char_start": 0, "fragment_sha256": "473b011fbcf8e5574325b215f5c699e14e7a175da34cd99ab1ffc5bf4962351c", "heading_path": ["EXHIBIT 99.2", "How will I be notified if an early‑expiration price condition is met for a series?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p24", "passage_kind": "narrative", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Opendoor will issue a public press release if a series of warrants meets its Early Expiration Price Condition and is subject to early expiry. The notice will specify which series is affected and the corresponding expiration date (or any later expiration date elected by Opendoor pursuant to the warrant agreement)."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b60"], "char_count": 229, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8688f7173389f99df890cd8a82377b693ef8cb7ad28c312f12b365ac7946b81d", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Can Opendoor set a later expiration date after the price condition is met?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 60, "char_end": 229, "char_start": 0, "fragment_sha256": "12abc7b6e158c9babb8690313daf290a312b80030634b5f081ea380834531757", "heading_path": ["EXHIBIT 99.2", "Can Opendoor set a later expiration date after the price condition is met?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s32", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Yes. Opendoor may set an alternate expiration date for a series of warrants, subject to the additional price condition and notice mechanics set forth in the warrant agreement. Any such election will be announced by press release."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b62"], "char_count": 236, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7b89ff66a8fe3393acb02df21b59f748958f5df8c4a3c5ba8d4eb7f2d940b9b0", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Can the Company choose an alternate expiration date for one series while others remain on their scheduled timelines?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 62, "char_end": 236, "char_start": 0, "fragment_sha256": "7daf1db399c7cd360d7fa092d3d4756113709544a8b37e1df761a4cd2e5822f0", "heading_path": ["EXHIBIT 99.2", "Can the Company choose an alternate expiration date for one series while others remain on their scheduled timelines?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p26", "passage_kind": "narrative", "passage_sequence": 26, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s33", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Yes. The Company may set an alternate expiration date for a specific series of warrants in accordance with the warrant agreement, without affecting the timelines of the other series. Any such election will be announced by press release."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b64"], "char_count": 240, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "00ad062ffdf58a4110d0df298d914f725b5cb9b0d3c27ccb20b8004f9da8c20f", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What happens if the Early Expiration Price Condition is not met?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 64, "char_end": 240, "char_start": 0, "fragment_sha256": "b94d8bed142eaa25c76c0d973c20a15b2b8e239ec85ece595f50fb186699da40", "heading_path": ["EXHIBIT 99.2", "What happens if the Early Expiration Price Condition is not met?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s34", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Holders may exercise their warrants at any time before expiration. If the Early Expiration Price Condition is not met for a series of warrants, that series of warrants remains outstanding until its scheduled expiration on November 20, 2026."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b67"], "char_count": 602, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0e64da5a6e22acdc93a3f63dc06419709de84c9d063fe7eac1d762ce921d9416", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How do I exercise the warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 67, "char_end": 602, "char_start": 0, "fragment_sha256": "1bbe950c81e62dda2706517ed5909a19fcdf8052c3f3cc527d8117ebe52a0107", "heading_path": ["EXHIBIT 99.2", "How do I exercise the warrants?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s36", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If you hold your warrants through a broker, you should discuss with your broker its procedures and timeline for effecting exercises on your behalf, because your broker may require you give notice using a particular method and may require an earlier deadline than close of business on the expiration date. If you are a registered holder of warrants, the procedures for exercise of such warrants will be set forth in the warrant agreement. To exercise the warrants, you must have funds available to pay the exercise price in cash, unless Opendoor elects to apply the Net Exercise feature described below."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b69"], "char_count": 231, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "38de140a3e70faf006555694d8ed18f762887ffe2e72e63c588485d879c4559b", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "When can I exercise?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 69, "char_end": 231, "char_start": 0, "fragment_sha256": "10c50aa742955d2caf29cad7245814375a6be8fff49bf982c9b734c9711188cd", "heading_path": ["EXHIBIT 99.2", "When can I exercise?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p29", "passage_kind": "narrative", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s37", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "At any time from the Distribution Date until the expiration date (or until any earlier deadline applied by your broker), which may occur early as described above, and subject to limited exceptions included in the warrant agreement."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b71"], "char_count": 224, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "05ece5c5363c58f332ffc897ab3df927d7c3504ccb9f92d1545e95bba3984cf3", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How can I pay the exercise price?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 71, "char_end": 224, "char_start": 0, "fragment_sha256": "50f26e0167aecbd7577e9d3bf4dcf8f8d5c53949c38633263ba1f8243099443c", "heading_path": ["EXHIBIT 99.2", "How can I pay the exercise price?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s38", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Payment is in cash (U.S. dollars) through your broker (if held in street name) or to the Warrant Agent (if you are a registered holder). Opendoor may, in its sole discretion, implement a Net Exercise feature described below."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b73"], "char_count": 802, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "45c2bc76774c3d5c85bc5fead04e0c463076bafc4d649eb0fc71f81e6ba58705", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How are exercises settled? What happens upon settlement?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 73, "char_end": 802, "char_start": 0, "fragment_sha256": "027b61409863b7958675fa3f76a59be07d91292864b54c254e86828737956b8e", "heading_path": ["EXHIBIT 99.2", "How are exercises settled? What happens upon settlement?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s39", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If you hold your warrants through a broker, settlement of exercises will be handled by your broker. If you are a registered holder of warrants, settlement of exercises will be done pursuant to the warrant agreement. Opendoor expects that following exercise and payment of applicable exercise price (or, if Net Exercise is applicable, following exercise), shares deliverable in connection with such exercise will be credited to your brokerage account (or, if you are a registered holder of warrants, credited to your registered account at our transfer agent). No fractional shares will be issued and any fraction will be rounded down. Unless Net Exercise is applicable, you will receive one share of common stock per warrant exercised (subject to any anti‑dilution adjustments in the warrant agreement)."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b75"], "char_count": 596, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "455665ec923e01382072b4cc1eeee0cf5b012a08581672e788e3ba3abe2dec59", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What happens if I do not exercise my warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 75, "char_end": 596, "char_start": 0, "fragment_sha256": "480d8d24ecdbafecf18c9b651040bc9aed3da888926e20ab4e08e1c5f9d81ddc", "heading_path": ["EXHIBIT 99.2", "What happens if I do not exercise my warrants?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s40", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If you do not sell or exercise your warrants by the applicable expiration date, which may occur early as described above, such warrants will expire and have no value. Your rights under the warrants will lapse with no further action required or penalty. You can choose to hold the warrants until expiration, sell them, or exercise them before expiration. If you take no action, the warrants simply expire. If other warrant holders exercise and new shares of common stock are issued to them while you do not exercise your warrants, your percentage ownership in Opendoor’s common stock will decline."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b77"], "char_count": 348, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6ce5c1ef4d6339d785cfc3ea15bb19811d47c720710e1eafdfc5a585ffebfd99", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Can my broker impose an earlier deadline to exercise than the Opendoor’s expiration time?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 77, "char_end": 348, "char_start": 0, "fragment_sha256": "73ea28068a856c5917fc6593f43118666b6ba0791b53c0e15516fcf9dcf241ce", "heading_path": ["EXHIBIT 99.2", "Can my broker impose an earlier deadline to exercise than the Opendoor’s expiration time?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s41", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Yes. Your broker may require an earlier instruction deadline than the stated expiration time of the warrants and may require you to submit notices by specific methods. We recommend confirming your broker’s procedures, cut‑offs and method of notice well in advance. Opendoor also intends to issue a public press release reminder ahead of expiration."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b79"], "char_count": 430, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "65f93ec0fcc37907cb54d703af477a9ce346011778b7a102b20cd2d3d336a8e8", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What is the Net Exercise feature?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 79, "char_end": 430, "char_start": 0, "fragment_sha256": "fabf721c943cdd266d00aa4f40738d9bedd112550b80292722c2320420efaa86", "heading_path": ["EXHIBIT 99.2", "What is the Net Exercise feature?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s42", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The warrants are initially exercisable only by paying the exercise price in cash. Opendoor may, at its sole discretion, in the future elect to apply a cash-less exercise (“Net Exercise”) feature as provided in the warrant agreement. If we do so, there will be no cash payable to exercise the warrants, and the number of shares deliverable pursuant to such net exercise feature will be determined pursuant to the warrant agreement."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b81"], "char_count": 247, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "557d6559920d19c9d7b4e4f6231c09e7f42aa11e3f310542eac1d559c519d92a", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How and when will Opendoor elect the Net Exercise feature?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 81, "char_end": 247, "char_start": 0, "fragment_sha256": "cb85820290e753084fa1ab204b5eca995e7907da327fbcbe466d1713dfb033e2", "heading_path": ["EXHIBIT 99.2", "How and when will Opendoor elect the Net Exercise feature?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p35", "passage_kind": "narrative", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s43", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Opendoor may at any time elect to change the exercise method for any series of warrants from cash exercise to Net Exercise at any time and vice versa. Any such election will be announced by press release prior to the election becoming into effect."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b83"], "char_count": 462, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "035f29015ee738593d28d7f47bec380000af5143af9a46ff2a008b5227e6a498", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How do I know how many shares I will receive if I exercise the warrants under the Net Exercise feature?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 83, "char_end": 462, "char_start": 0, "fragment_sha256": "07426ed0ad017365582d0b793c7fddc0412264fa3e830dbf88adecd5c2a80292", "heading_path": ["EXHIBIT 99.2", "How do I know how many shares I will receive if I exercise the warrants under the Net Exercise feature?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s44", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The number of shares deliverable pursuant to the Net Exercise feature for any given series of warrants will be based on the excess of the volume-weighted average price of Opendoor’s common stock as of the trading day prior to the exercise date, over the exercise price of such series of warrants, then divided by such volume-weighted average price. The warrant agreement will set forth how the shares deliverable pursuant to such Net Exercise will be calculated."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b86"], "char_count": 568, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "35f14c6eeab289c4172c8ad2b2d2eeb3b4b25d2535173e346316b8334247c056", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "I hold listed call options on Opendoor. Do I receive the warrant dividend?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 86, "char_end": 568, "char_start": 0, "fragment_sha256": "3c6232c0ebeade7f71f8409e379046a739fdfaceadf82910e30bfa646b95c4b2", "heading_path": ["EXHIBIT 99.2", "I hold listed call options on Opendoor. Do I receive the warrant dividend?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s46", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Only holders of record of shares of common stock as of the Record Date will receive the warrant dividend from Opendoor. Following the Record Date, the Options Clearing Corporation (“OCC”) may decide to adjust the terms of some or all listed options on Opendoor’s common stock to account for the warrant dividend, which may include adjustments to the deliverable per contract or other terms. Market participants with long or short listed option positions should review any notices from the OCC to determine what adjustments to the terms of their options have been made."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b88"], "char_count": 217, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "555836c05cd8b0c31647359ba7b719faff58591ab0cd1e8e1e4d4b065d739b6f", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What if I hold a short position as of the Record Date?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 88, "char_end": 217, "char_start": 0, "fragment_sha256": "c697cc71104ffb16e6b48e7311d354d1f7388ac0242f671aa54a3ac31a60ba4a", "heading_path": ["EXHIBIT 99.2", "What if I hold a short position as of the Record Date?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s47", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Opendoor believes that in most cases you will be required to deliver warrants to the lender of borrowed shares, unless the parties agree to another arrangement. You should discuss with your broker and/or stock lender."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b90"], "char_count": 377, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a93fb4eeb3489cd22750068f0079646ade6bc53a4cca63ce5d750561f5123554", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How are warrants handled in retirement accounts?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 90, "char_end": 377, "char_start": 0, "fragment_sha256": "4c9d852513b39871520e324c5482fc1b25e89d27631290669260dbb2380bf96a", "heading_path": ["EXHIBIT 99.2", "How are warrants handled in retirement accounts?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p39", "passage_kind": "narrative", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "While Opendoor expects that in some cases warrants will be credited to your retirement brokerage account if you hold shares as of the Record Date, exercising or selling warrants from within a retirement account may be subject to additional rules or restrictions, and Opendoor recommends that you discuss with your retirement broker, advisor and/or administrator, as applicable."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b92"], "char_count": 296, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b93eb0d948a34f0efc55988e8665afd7ab7b7ceff54236ad22e1520339567dd6", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Do non‑U.S. shareholders qualify to receive the warrant dividend?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 92, "char_end": 296, "char_start": 0, "fragment_sha256": "ae0bb13d0a8e1e98ad0aee43b92ca8e0f2eb77868f8e962f1e0a9e54979bce5e", "heading_path": ["EXHIBIT 99.2", "Do non‑U.S. shareholders qualify to receive the warrant dividend?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p40", "passage_kind": "narrative", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s49", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "We are not aware of restrictions on international shareholders receiving warrants if they hold Opendoor common stock as of the Record Date. Tax treatment may vary based on a holder’s tax domicile as well as other factors, so both U.S. and non-U.S. shareholders should seek tax advice (see below)."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b94"], "char_count": 202, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1a63e45e07686b905cef2ab6c13c9ba1999e3b3a4cd2798aac1289c04509d8d0", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "I hold shares through a registered account at Equiniti. How do I receive the warrant dividend?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 94, "char_end": 202, "char_start": 0, "fragment_sha256": "6d3545302c333ea0a9164360fa19c5f90c2be98d22fe21ed931482a463673c4e", "heading_path": ["EXHIBIT 99.2", "I hold shares through a registered account at Equiniti. How do I receive the warrant dividend?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s50", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If you hold shares of Opendoor’s common stock through a registered account at Opendoor’s stock transfer agent, Equiniti, warrants will be automatically credited to such account on the Distribution Date."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b96"], "char_count": 164, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "382ea919482eee9d782b23d83f3f18dd25bb191d87efdbbcfe2979a09959468d", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "I hold Opendoor’s convertible notes. Do I receive the warrant dividend?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 96, "char_end": 164, "char_start": 0, "fragment_sha256": "094cd00ef9ecc273796e2a223b90aa3d0fa55dd47c1eafb10bc0231e706a69e3", "heading_path": ["EXHIBIT 99.2", "I hold Opendoor’s convertible notes. Do I receive the warrant dividend?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p42", "passage_kind": "narrative", "passage_sequence": 42, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s51", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Please refer to the Company’s Form 8-K for full details. Holders should also review the note-specific disclosures and the warrant agreement when filed with the SEC."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b99"], "char_count": 330, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "723584a89fd2e29f57796175657bb3d792f005837dbd65aaa037c83729e90b73", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Will this dilute my ownership?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 99, "char_end": 330, "char_start": 0, "fragment_sha256": "0d0d8fdfa4465e8dc210cf21d3086305c34e5849139cc7347365663e77ddc93d", "heading_path": ["EXHIBIT 99.2", "Will this dilute my ownership?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s53", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "There is no immediate dilution to Opendoor shareholders upon distribution of the warrants. Shares are issued only upon exercise of the warrants. If you receive a warrant and decide to sell it in the market for cash or determine not to exercise it, you may be diluted to the extent that any warrants are exercised by other holders."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b101"], "char_count": 123, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8479c791e1158850053113987bb0d6581f9ef63c17f18bb42d6475a388b0e9d7", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How many total warrants will be issued?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 101, "char_end": 123, "char_start": 0, "fragment_sha256": "541cbf54a52b1804dd965b092288424a6c076bfd7a78b141b144393ed2fb7e34", "heading_path": ["EXHIBIT 99.2", "How many total warrants will be issued?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p44", "passage_kind": "narrative", "passage_sequence": 44, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s54", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The aggregate number of warrants issued will be disclosed at or before distribution. No fractional warrants will be issued."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b103"], "char_count": 749, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "75549e7cfba6ecc9f3e80b38bbbeeb9efe9f39c1e6f04c431eadd99174153b87", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How much cash could be raised if all warrants are exercised?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 103, "char_end": 749, "char_start": 0, "fragment_sha256": "f42c78e410a420c6d85ca718c3dc974cd9a20b4d8e6f746c43a37d8e94db3b69", "heading_path": ["EXHIBIT 99.2", "How much cash could be raised if all warrants are exercised?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p45", "passage_kind": "narrative", "passage_sequence": 45, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s55", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The amount of cash we raise will depend on the number of warrants exercised for cash. We won’t know how many warrants will be issued until after the Distribution Date. We also won’t know how many warrants will be exercised for cash or for cash-less exercise, if we later choose to implement the Net Exercise feature. If all warrants are exercised for cash, gross proceeds would equal the number of warrants exercised multiplied by the applicable exercise price. We will disclose the total number of warrants issued in aggregate and by series on the Distribution Date. You can then compute: Series K = Series K Warrants issued × $9.00 Series A = Series A Warrants issued × $13.00 Series Z = Series Z Warrants issued × $17.00 Total = Sum of the above."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b105"], "char_count": 138, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7e6287fa22daa08c40306fbe4f110bffb13679caefb45583de4f2de9c71da3ef", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "What will Opendoor do with any proceeds from exercises?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 105, "char_end": 138, "char_start": 0, "fragment_sha256": "ad138680d7bd475bcff7b4a3c87091e0e623cbae84bfde78d4ce2ea649b8561f", "heading_path": ["EXHIBIT 99.2", "What will Opendoor do with any proceeds from exercises?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s56", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "If exercised for cash, we currently expect to use proceeds for general corporate purposes, including investments and growth opportunities."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b107"], "char_count": 339, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0597ec1245be62dc34538007ad63c634f045fc6c0ca0647bbd23531ca005ad5a", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "How are the warrants taxed? Should I consult a tax advisor?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 107, "char_end": 339, "char_start": 0, "fragment_sha256": "446d0efac6b7e5d950bee3f1dbd387d782aecb3f3ea61f45e78d7ab9ef72c3b4", "heading_path": ["EXHIBIT 99.2", "How are the warrants taxed? Should I consult a tax advisor?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p47", "passage_kind": "narrative", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The U.S. federal income tax treatment of the warrant distribution, and any future exercise of the warrants, may vary based on an investor’s specific circumstances. Opendoor does not provide tax advice. Regardless of tax domicile, all investors are encouraged to consult their tax advisor regarding the potential impact of the distribution."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b110"], "char_count": 256, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "670c06705ce052d950639e26c5f9d17f7157dcd7d3280203f53bc248719a5e2f", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Where will I find the full warrant agreement and official terms?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 110, "char_end": 256, "char_start": 0, "fragment_sha256": "b2c7b6d0610b5fb2daf12debff0c2266f628bf01a8deecf0261b75b88a3bb690", "heading_path": ["EXHIBIT 99.2", "Where will I find the full warrant agreement and official terms?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s59", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The official terms are set forth in the warrant agreement filed with the SEC. Opendoor expects to file the warrant agreement with the SEC on or prior to the Distribution Date. The warrant agreement will be available on the SEC’s EDGAR system (www.sec.gov)."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b112"], "char_count": 276, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a1a8f23e81b65d22baa35ac5750bc1853b18d85c4c495a5a815892fc43f01c6b", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Does this FAQ replace the official documents?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 112, "char_end": 276, "char_start": 0, "fragment_sha256": "8e4cbe19f0425880d47f85e352f707b767b2e508fcaf1e77009649aa4be94277", "heading_path": ["EXHIBIT 99.2", "Does this FAQ replace the official documents?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p49", "passage_kind": "narrative", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s60", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "No. This FAQ is a general summary and does not cover every term or circumstance. If there is any inconsistency between this FAQ and the warrant agreement, the warrant agreement will prevail. Please refer to the version of the warrant agreement filed on the SEC’s EDGAR system."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b114"], "char_count": 129, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ae75680da1135d9ea4f8281208b527f87541ada64166d35b988d2fc15a5574b6", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Can Opendoor change the warrant terms?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 114, "char_end": 129, "char_start": 0, "fragment_sha256": "ea4304330c888319c45a33db34a0b137018434a87c7c073a438c44a66dd0071a", "heading_path": ["EXHIBIT 99.2", "Can Opendoor change the warrant terms?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s61", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "The procedures relating to any amendments or adjustments to the terms of the warrants will be set forth in the warrant agreement."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b116"], "char_count": 525, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e1f061d476fbf763383a8aa4f0275a0c7ca94e11ac3b4200e5616ab6712f03b9", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Where can I get ongoing updates that are relevant to the warrants?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 116, "char_end": 525, "char_start": 0, "fragment_sha256": "a1c9f82848be9757f471b83622c4f4dd2ea1a4aa44f41be864cc9ff4f7ab502a", "heading_path": ["EXHIBIT 99.2", "Where can I get ongoing updates that are relevant to the warrants?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s62", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Opendoor will issue public press releases and update the Investor Relations section of its website for key events related to the warrants, including Early Expiration Price Condition notices, any election of an alternate expiration date, and any notice of an exercise suspension period or related settlement mechanics. Please monitor our press releases and IR website for these updates. For official terms and changes permitted under the warrant agreement, please refer to our SEC filings available on the SEC’s EDGAR website."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b118"], "char_count": 134, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c6c35cfdf5c29fba5d2def57bff1523b31ce9f3a9ab1f5929da48a36cb92822c", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Where can I get more information?"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 118, "char_end": 134, "char_start": 0, "fragment_sha256": "cf4fa06f1765978a226e0d5a672e820abac673b0ac28c326021b7849258c1f07", "heading_path": ["EXHIBIT 99.2", "Where can I get more information?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s63", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "Please see our SEC filings and the Investor Relations section of our website, or contact Investor Relations at investors@opendoor.com."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b120"], "char_count": 923, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8c2affc6eb92a1cda5bc504b649cb6f7922dbe7c1ea01a6e01bb2325c82941d7", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "No Offer or Solicitation"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 120, "char_end": 923, "char_start": 0, "fragment_sha256": "2891bd8d2ab79c5d76645d83f959a64ea4a93f007f0411add2e06319d0fb6c97", "heading_path": ["EXHIBIT 99.2", "No Offer or Solicitation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s64", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "This FAQ shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Holders should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#b122"], "char_count": 2602, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f77a930882a215e310adeaf294e90c3255bfb84cf2f888d7ded9b4c855fa372a", "derivation_id": "e85c6ff2ee90a236cb5d5226f5154c48d3ba78858b0b5709b0cfe847f012177d", "document_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001140361-25-040804", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.2", "Forward Looking Statements"], "items": ["7.01", "8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "block_sequence": 122, "char_end": 2602, "char_start": 0, "fragment_sha256": "bb477b1da1f1bdc6e995e1956b2bc36c12b74f9a1cc1392998ea682fcc6db02b", "heading_path": ["EXHIBIT 99.2", "Forward Looking Statements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm#s65", "source_artifact_id": "sec:0001801169:0001140361-25-040804:ny20058304x2_ex99-2.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040804/ny20058304x2_ex99-2.htm", "table_id": null, "text": "This FAQ contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this FAQ that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Company’s expectations regarding the Warrant Distribution; the anticipated Record Date, Distribution Date and expiration date for the Warrants; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; the price of the Warrants and the existence of a market for the Warrants; and the potential for upside to holders of the Warrants. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company’s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations."} diff --git a/data/normalized/sec/0001801169/8-K/2025-11-06_0001801169-25-000090/norm_0001801169_0001801169-25-000090_exhibit992-q32025form8xk.htm.json b/data/normalized/sec/0001801169/8-K/2025-11-06_0001801169-25-000090/norm_0001801169_0001801169-25-000090_exhibit992-q32025form8xk.htm.json new file mode 100644 index 0000000000000000000000000000000000000000..7cb6b5cca21e6539bcf4abbcd3478e852743b1a6 --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2025-11-06_0001801169-25-000090/norm_0001801169_0001801169-25-000090_exhibit992-q32025form8xk.htm.json @@ -0,0 +1,855 @@ +{ + "acceptance_datetime": "2025-11-06T16:24:40.000Z", + "amends_accession": null, + "artifact_role": "ex99-02", + "blocks": [ + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b0", + "block_sequence": 0, + "block_sha256": "b9aacb0fd0f9ca3a95902f90a9805cbdeff3a5abed329409940ead7a5d39d080", + "block_type": 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"norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company\u2019s financial results, these supplemental tables include references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company\u2019s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company\u2019s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company\u2019s performance by excluding certain items that may not be indicative of the Company\u2019s recurring operating results. Adjusted Gross Profit and Contribution Profit To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor\u2019s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort. Contribution Profit / Margin We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort. Adjusted Net Loss and Adjusted EBITDA / Margin We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss. Exhibit 99.2" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b7", + "block_sequence": 7, + "block_sha256": "84989e2b1254a2fc7daaea3f357279c37c64c3bb437d71f6748e41238577bfc1", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 7, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d4302d35d0eff8c37c2170fbe9a251a4638427e76eafee626e1b466eb8bc3e72", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk002.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b8", + "block_sequence": 8, + "block_sha256": "e8c8adecd9f0883551db145e004556134cf54458024bd3753a1adff3e1a72737", + "block_type": "paragraph", + "char_count": 6052, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 8, + "char_end": 6052, + "char_start": 0, + "fragment_sha256": "ab3f04649eaebea7211bafd93a3458603366b75c3ad9fe14bcb9275651a96a6a", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, intangibles amortization expense, and the amortization of stock-based compensation capitalized to internally developed software (\"IDSW\"). It excludes expenses that are not directly related to our revenue generating operations such as restructuring and legal contingency accruals. It excludes loss (gain) on extinguishment of debt as these gains or expenses were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Operating Expense We also present Adjusted Operating Expense, which is a non-GAAP financial measure that bridges the difference between Contribution Profit and Adjusted EBITDA. We believe this measure provides investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to Contribution Profit and certain charges that are non-cash, or not directly related to our revenue-generating operations are removed. Adjusted Operating Expense is a supplemental measure of our operating expenditures and has important limitations. For example, this measure excludes the impact of certain costs required to be recorded under GAAP. This measure removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. This measure could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, this measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of this measure to the most directly comparable GAAP financial measure, which is operating expenses. We calculate Adjusted Operating Expense as GAAP operating expense adjusted to exclude direct selling costs and holding costs included in determining Contribution Profit. The measure also excludes non-cash expenses of stock-based compensation, depreciation and amortization, intangibles amortization, and the amortization of stock-based compensation capitalized to IDSW. It also excludes expenses that are not directly related to our revenue-generating operations such as restructuring charges and legal contingency accruals. Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, Adjusted Technology and Development We also present Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development, which are non-GAAP financial measures that provide investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to contribution profit and certain charges that are non-cash are removed. These supplemental measures of our operating expenditures have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. Specifically, Adjusted Sales, Marketing and Operations removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. These measures could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which are Sales, marketing and operations expense, General and administrative expense and Technology and development expense. We calculate Adjusted Sales, Marketing and Operations as GAAP sales, marketing and operations expenses to exclude direct selling costs and holding costs included in determining Contribution Profit. This measure also excludes non-cash expenses of stock-based compensation and amortization of intangibles associated with sales, marketing and operations assets. We calculate Adjusted General and Administrative as GAAP general and administrative expenses to exclude non-cash expenses of stock-based compensation, depreciation and amortization of intangibles associated with general and administrative assets. It also excludes expenses that are not directly related to our revenue-generating operations such as legal contingency accruals. We calculate Adjusted Technology and Development as GAAP technology and development expenses to exclude non-cash expenses of stock-based compensation, the amortization of stock-based compensation capitalized to IDSW, and depreciation and amortization associated with technology and development assets." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b9", + "block_sequence": 9, + "block_sha256": "8202dc8111036af9e4df7cc6fc5f0077d1f819790826d007981a707db7d297a7", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 9, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "821bdd01ed5f88467ba70ef5b4994a8005dbc3d0023e69b94ef7bf99a84780e6", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk003.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b10", + "block_sequence": 10, + "block_sha256": "83d2dc26feddeff809b64275b6fc9f856042b4b5d780596cd61a0fc24cd64468", + "block_type": "paragraph", + "char_count": 1351, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 10, + "char_end": 1351, + "char_start": 0, + "fragment_sha256": "2ef09f9004f0d5e4a6d974fa856f47029c13fcd09240cb516587928583ac6887", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP MEASURES & KEY METRICS (Unaudited) Period Ended ($ in millions, except homes purchased, homes sold, homes in inventory, and margins) Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Key Metrics Total Revenue $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Gross profit $ 66 $ 128 $ 99 $ 85 $ 105 Net loss $ (90) $ (29) $ (85) $ (113) $ (78) Inventory (at period end) $ 1,053 $ 1,530 $ 2,362 $ 2,159 $ 2,145 Non-GAAP Financial Measures Adjusted Gross Profit $ 64 $ 135 $ 100 $ 75 $ 99 Selling Costs (28) (43) (29) (23) (32) Holding Costs (16) (23) (17) (14) (15) Contribution Profit $ 20 $ 69 $ 54 $ 38 $ 52 Adjusted EBITDA $ (33) $ 23 $ (30) $ (49) $ (38) Adjusted Net Loss $ (61) $ (9) $ (63) $ (77) $ (70) Margins Total Revenue 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Gross profit 7.2 % 8.2 % 8.6 % 7.8 % 7.6 % Adjusted Gross Profit 7.0 % 8.6 % 8.7 % 6.9 % 7.2 % Contribution Profit 2.2 % 4.4 % 4.7 % 3.5 % 3.8 % Net loss (9.8) % (1.9) % (7.4) % (10.4) % (5.7) % Adjusted EBITDA (3.6) % 1.5 % (2.6) % (4.5) % (2.8) % Adjusted Net Loss (6.7) % (0.6) % (5.5) % (7.1) % (5.1) % Inventory Rollforward Homes in Inventory (at beginning of period) 4,538 7,080 6,417 6,288 6,399 Homes Purchased 1,169 1,757 3,609 2,951 3,504 Homes Sold (2,568) (4,299) (2,946) (2,822) (3,615) Homes in Inventory (at period end) 3,139 4,538 7,080 6,417 6,288" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b11", + "block_sequence": 11, + "block_sha256": "f723b126cc90c2497cda6fce07830e2194111d33abb4559702a66c691bf3fd56", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 11, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "55532bda0ee377e234afb438c07c29406856fda12fc040f02965ea6185a26351", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk004.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b12", + "block_sequence": 12, + "block_sha256": "0c08059d7fcf8beb0d375f6918faba68d87f65c8926e63df774f62ba5ffe3b60", + "block_type": "paragraph", + "char_count": 1117, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 12, + "char_end": 1117, + "char_start": 0, + "fragment_sha256": "746bfdeebdf5654565899a2b3f307041cd949fefd589f3562df5f466baba1cf4", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are presented in thousands, and per share amounts) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 REVENUE $ 915 $ 1,377 $ 3,635 $ 4,069 COST OF REVENUE 849 1,272 3,342 3,721 GROSS PROFIT 66 105 293 348 OPERATING EXPENSES: Sales, marketing and operations 66 96 250 325 General and administrative 48 46 109 141 Technology and development 19 30 61 108 Restructuring 1 \u2014 10 \u2014 Total operating expenses 134 172 430 574 LOSS FROM OPERATIONS (68) (67) (137) (226) (LOSS) GAIN ON EXTINGUISHMENT OF DEBT (1) \u2014 9 (1) INTEREST EXPENSE (34) (34) (103) (101) OTHER INCOME \u2013 Net 14 23 28 50 LOSS BEFORE INCOME TAXES (89) (78) (203) (278) INCOME TAX EXPENSE (1) \u2014 (1) (1) NET LOSS $ (90) $ (78) $ (204) $ (279) Net loss per share attributable to common shareholders: Basic $ (0.12) $ (0.11) $ (0.28) $ (0.40) Diluted $ (0.12) $ (0.11) $ (0.28) $ (0.40) Weighted-average shares outstanding: Basic 741,939 705,359 731,722 693,796 Diluted 741,939 705,359 731,722 693,796" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b13", + "block_sequence": 13, + "block_sha256": "a84f7259b32895ad3c2b36c049a922f0b6b6a1b4e86e67feb11f3fbfdc4a7379", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 13, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "721d0c80eaf41d4e792e6eb2328550c8cef1270b6437963b0988f640dfd1914d", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk005.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b14", + "block_sequence": 14, + "block_sha256": "62c03467924d15c747c7b35e6f41696044e33e8562e7aae5b43a107b28be1570", + "block_type": "paragraph", + "char_count": 1456, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 14, + "char_end": 1456, + "char_start": 0, + "fragment_sha256": "11cd07e8a49c21c82f875d6dab19d15fa8dd77a93b068d2aa1609198397f3af3", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except share data) (Unaudited) September 30, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 962 $ 671 Restricted cash 490 92 Marketable securities \u2014 8 Escrow receivable 9 6 Real estate inventory, net 1,053 2,159 Other current assets 73 61 Total current assets 2,587 2,997 PROPERTY AND EQUIPMENT \u2013 Net 31 48 RIGHT OF USE ASSETS 9 18 GOODWILL 3 3 OTHER ASSETS 70 60 TOTAL ASSETS $ 2,700 $ 3,126 LIABILITIES AND SHAREHOLDERS\u2019 EQUITY CURRENT LIABILITIES: Accounts payable and other accrued liabilities $ 91 $ 92 Non-recourse asset-backed debt \u2013 current portion 374 432 Convertible senior notes \u2013 current portion 439 \u2014 Interest payable 9 3 Lease liabilities \u2013 current portion 1 2 Total current liabilities 914 529 NON-RECOURSE ASSET-BACKED DEBT \u2013 Net of current portion 966 1,492 CONVERTIBLE SENIOR NOTES \u2013 Net of current portion \u2014 378 LEASE LIABILITIES \u2013 Net of current portion 7 13 OTHER LIABILITIES 2 1 Total liabilities 1,889 2,413 SHAREHOLDERS\u2019 EQUITY: Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 771,534,057 and 719,990,121 shares issued, respectively; 771,534,057 and 719,990,121 shares outstanding, respectively \u2014 \u2014 Additional paid-in capital 4,740 4,438 Accumulated deficit (3,929) (3,725) Accumulated other comprehensive loss \u2014 \u2014 Total shareholders\u2019 equity 811 713 TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY $ 2,700 $ 3,126" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b15", + "block_sequence": 15, + "block_sha256": "63b986881076b8f4b312f38d6d0141f0491768405bec568cd40a661f8e9187c6", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 15, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "2f844e59e6945cd5e68646f8ae08d93cc5c4a6570a196317d1f0cfd418a06f4c", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk006.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b16", + "block_sequence": 16, + "block_sha256": "0617cace1aac3bc163eceb983ee124b5bbbb95a9f83e4f4e02dc27af0024a809", + "block_type": "paragraph", + "char_count": 1878, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 16, + "char_end": 1878, + "char_start": 0, + "fragment_sha256": "b30eea6d25b086e15468d912be39e1f7f5464f12fb09e0a938b086b2708048fc", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Nine Months Ended September 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (204) $ (279) Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: Depreciation and amortization 33 37 Amortization of right of use asset 2 4 Stock-based compensation 54 91 Inventory valuation adjustment 48 51 Change in fair value of equity securities 3 7 Other 7 6 (Gain) loss on early extinguishment of debt (9) 1 Gain on deconsolidation, net \u2014 (14) Changes in operating assets and liabilities: Escrow receivable (3) (6) Real estate inventory 1,054 (422) Other assets (15) 9 Accounts payable and other accrued liabilities 4 4 Interest payable 6 1 Lease liabilities (1) (5) Net cash provided by (used in) operating activities 979 (515) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (9) (22) Proceeds from sales, maturities, redemptions and paydowns of marketable securities 6 55 Purchase of equity investments (6) \u2014 Cash impact of deconsolidation of subsidiaries \u2014 (2) Net cash (used in) provided by investing activities (9) 31 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of convertible senior notes, net of discount 75 \u2014 Settlement of capped calls related to the convertible senior notes 1 \u2014 Proceeds from exercise of stock options 4 \u2014 Proceeds from issuance of common stock for ESPP 2 5 Proceeds from PIPE offering 41 \u2014 Proceeds from the issuance of common stock under at-the-market offering, net 198 \u2014 Proceeds from non-recourse asset-backed debt 684 417 Principal payments on non-recourse asset-backed debt (1,268) (424) Payment of loan origination fees and debt issuance costs (16) \u2014 Other financing activities (2) \u2014 Net cash used in financing activities (281) (2)" + }, + { + "block_id": 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extinguished in Debt Exchange $ (246) $ \u2014 Principal value of 2030 Notes issued in Debt Exchange $ 246 $ \u2014 Investment in non-marketable equity securities of deconsolidated entities $ 3 $ 39 RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 962 $ 829 Restricted cash 490 225 Cash, cash equivalents, and restricted cash $ 1,452 $ 1,054" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b19", + "block_sequence": 19, + "block_sha256": "1e51b7ee9a87d9523d73c4d174f07fcb15a4b28fd3ae031861b82cd36f55b51a", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 19, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "42b7c50319a247a2b6827fbaa934ccd723af3ea424171d13bc448df645e4365e", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk008.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b20", + "block_sequence": 20, + "block_sha256": "4404baa92de6f6842cdeb3ee9eeaa53ab1de727a7bff0ec6ae35cc51908e5f11", + "block_type": "paragraph", + "char_count": 2415, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 20, + "char_end": 2415, + "char_start": 0, + "fragment_sha256": "72fe48e5ea8b4a54cf983d18522e39057369c2357981bbf627776c818b61d1d0", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Gross Profit and Contribution Profit to our Gross Profit Three Months Ended (in millions, except percentages and homes sold, or as noted) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Revenue (GAAP) $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Gross profit (GAAP) $ 66 $ 128 $ 99 $ 85 $ 105 Gross Margin 7.2 % 8.2 % 8.6 % 7.8 % 7.6 % Adjustments: Inventory valuation adjustment \u2013 Current Period\u034f (1)(2) 15 21 13 6 10 Inventory valuation adjustment \u2013 Prior Periods\u034f (1)(3) (17) (14) (12) (16) (16) Adjusted Gross Profit $ 64 $ 135 $ 100 $ 75 $ 99 Adjusted Gross Margin 7.0 % 8.6 % 8.7 % 6.9 % 7.2 % Adjustments: Direct selling costs (4) (28) (43) (29) (23) (32) Holding costs on sales \u2013 Current Period\u034f (5)(6) (4) (6) (5) (4) (6) Holding costs on sales \u2013 Prior Periods\u034f (5)(7) (12) (17) (12) (10) (9) Contribution Profit $ 20 $ 69 $ 54 $ 38 $ 52 Homes sold in period 2,568 4,299 2,946 2,822 3,615 Contribution Profit per Home Sold (in thousands) $ 8 $ 16 $ 18 $ 13 $ 14 Contribution Margin 2.2 % 4.4 % 4.7 % 3.5 % 3.8 % (1) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2) Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3) Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5) Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6) Represents holding costs incurred in the period presented on homes sold in the period presented. (7) Represents holding costs incurred in prior periods on homes sold in the period presented." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b21", + "block_sequence": 21, + "block_sha256": "3120570c678b99f65b5e34535cf54253285618596cb57c823a8e7cb6c5a3e14f", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 21, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "955dfb3c99e1335ab20d8795d0d99628330b1e89f1bad9edb853ca11f3731950", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk009.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b22", + "block_sequence": 22, + "block_sha256": "1ca06459d46c20e07c775b96d684dd7d5d101e498b64a8b8abf52bc80ae5f420", + "block_type": "paragraph", + "char_count": 3679, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 22, + "char_end": 3679, + "char_start": 0, + "fragment_sha256": "cff9bfd2a71a0e42e3835e99ba555a48ca8a96cef938519c65fd1816bbe9892f", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our Net Loss Three Months Ended (in millions, except percentages) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Revenue (GAAP) $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Net loss (GAAP) $ (90) $ (29) $ (85) $ (113) $ (78) Adjustments: Stock-based compensation 13 13 14 23 25 Stock-based compensation for market condition RSUs 14 \u2014 \u2014 \u2014 \u2014 Equity securities fair value adjustment(1) \u2014 \u2014 3 \u2014 3 Intangibles amortization expense(2) \u2014 \u2014 \u2014 \u2014 1 Amortization of stock-based compensation capitalized to IDSW(3) 4 4 3 \u2014 \u2014 Inventory valuation adjustment \u2013 Current Period\u034f(4)(5) 15 21 13 6 10 Inventory valuation adjustment \u2014 Prior Periods\u034f(4)(6) (17) (14) (12) (16) (16) Restructuring(7) 1 6 3 17 \u2014 Loss (gain) on extinguishment of debt 1 (10) \u2014 1 \u2014 Legal contingency accrual and related expenses \u2014 \u2014 \u2014 5 \u2014 Other(8) (2) \u2014 (2) \u2014 (15) Adjusted Net Loss $ (61) $ (9) $ (63) $ (77) $ (70) Adjustments: Depreciation and amortization, excluding amortization of intangibles 5 5 5 7 10 Property financing(9) 23 29 29 28 30 Other interest expense(10) 11 7 4 4 4 Interest income(11) (12) (9) (5) (11) (12) Income tax expense 1 \u2014 \u2014 \u2014 \u2014 Adjusted EBITDA $ (33) $ 23 $ (30) $ (49) $ (38) Adjusted EBITDA Margin (3.6) % 1.5 % (2.6) % (4.5) % (2.8) % (1) Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2) Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was incurred until the intangible assets were fully amortized in 2024. (3) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in \u201cDepreciation and amortization, excluding amortization of intangibles.\u201d Had this presentation been applied for the three months ended December 31, 2024 and September 30, 2024, Adjusted Net Loss would have improved by $3 million and $3 million, respectively, with no impact to Adjusted EBITDA. (4) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (5) Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (6) Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (7) Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees\u2019 roles, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process. (8) Primarily includes gain on deconsolidation, net and related party services income. (9) Includes interest expense on our non-recourse asset-backed debt facilities. (10) Includes amortization of debt issuance costs and loan origination fees, amortization of debt discounts, commitment fees, unused fees, other interest related costs on our asset-backed debt facilities, and interest expense related to the convertible senior notes outstanding. (11) Consists mainly of interest earned on cash, cash equivalents, restricted cash, and marketable securities." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b23", + "block_sequence": 23, + "block_sha256": "d0196ad2d61725e252fbe8fc6316be8c1118c2a932874844fe5d71b9d9858454", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 23, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d960b408e150343a2f062596ac3d95bd754b707b213ebb3d1142bebc3a625d67", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk010.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b24", + "block_sequence": 24, + "block_sha256": "a68b290abb6301207a34727a85fdf9204f0e8c690402b33e3901927af59a6303", + "block_type": "paragraph", + "char_count": 2781, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 24, + "char_end": 2781, + "char_start": 0, + "fragment_sha256": "bcb45593693b650474556c9f7d2068ff4fa0c0846b1d4a2f72af7ef0e5b2f796", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Operating Expenses to our Operating Expenses Three Months Ended (in millions, except percentages) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 OPERATING EXPENSES: Sales, marketing and operations 66 86 98 88 96 General and administrative 48 28 33 41 46 Technology and development 19 21 21 33 30 Restructuring 1 6 3 17 \u2014 Total Operating Expenses (GAAP) $ 134 $ 141 $ 155 $ 179 $ 172 Operating Expenses (GAAP) $ 134 $ 141 $ 155 $ 179 $ 172 Adjustments: Direct Selling Costs(1) (28) (43) (29) (23) (32) Holding costs included in contribution profit(2) (16) (23) (17) (14) (15) Stock-based compensation (13) (13) (14) (23) (25) Stock-based compensation for market condition RSUs (14) \u2014 \u2014 \u2014 \u2014 Intangibles amortization expense(3) \u2014 \u2014 \u2014 \u2014 (1) Amortization of stock-based compensation capitalized IDSW(4) (4) (4) (3) \u2014 \u2014 Restructuring (1) (6) (3) (17) \u2014 Legal contingency accrual \u2014 \u2014 \u2014 (5) \u2014 Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (7) (10) Other \u2014 (1) \u2014 (3) 1 Total Adjusted Operating Expenses (Non-GAAP) $ 53 $ 46 $ 84 $ 87 $ 90 (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations. (2) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (3) Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was expected until the intangible assets were fully amortized in 2024. (4) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in \u201cDepreciation and amortization, excluding amortization of intangibles.\u201d Had this presentation been applied for the three months ended December 31, 2024 and September 30, 2024, Adjusted Net Loss would have improved by $3 million and $3 million, respectively, with no impact to Adjusted EBITDA." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b25", + "block_sequence": 25, + "block_sha256": "ef54ea1e87b52c509633c365a284bae5c276dc942db6501a82d268240828cc4a", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 25, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "aaa446ca5c71ee0b50a7408c3f89a31eb2694f6b21900aa8323dadbc1b16d015", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk011.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b26", + "block_sequence": 26, + "block_sha256": "aa2c28c0eb69308d9731cba07a33e7576cf20b6b2313186183563fe29e9a01cf", + "block_type": "paragraph", + "char_count": 3440, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 26, + "char_end": 3440, + "char_start": 0, + "fragment_sha256": "aa59805d783320bc713260d6a368c2a11a32b850b2a2cf3405c33132eb690b97", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Sales, Marketing and Operatiions; Adjusted General and Administrative; and Adjusted Technology and Developement Expenses to Their Corresponding GAAP Measures Three Months Ended (in millions) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Sales, marketing and operations (GAAP)(1) $ 66 $ 86 $ 98 $ 88 $ 96 Direct Selling Costs(2) (28) (43) (29) (23) (32) Holding costs included in contribution profit(3)(4) (16) (23) (17) (14) (15) Stock-based compensation (2) (2) (2) (2) (2) Intangibles amortization expense(5) \u2014 \u2014 \u2014 \u2014 (1) Adjusted Sales, Marketing and Operations (Non- GAAP)(6) $ 20 $ 18 $ 50 $ 49 $ 46 General and administrative (GAAP) $ 48 $ 28 $ 33 $ 41 $ 46 Stock-based compensation (9) (9) (9) (13) (16) Stock-based compensation for market condition RSUs (14) \u2014 \u2014 \u2014 \u2014 Legal contingency accrual and related expenses \u2014 \u2014 \u2014 (5) \u2014 Depreciation and amortization, excluding amortization of intangibles \u2014 \u2014 \u2014 \u2014 (2) Other \u2014 \u2014 \u2014 \u2014 1 Adjusted General and Administrative (Non-GAAP)(6) $ 25 $ 19 $ 24 $ 23 $ 29 Technology and development (GAAP) $ 19 $ 21 $ 21 $ 33 $ 30 Stock-based compensation (2) (2) (3) (8) (7) Amortization of stock-based compensation capitalized to IDSW(7) (4) (4) (3) \u2014 \u2014 Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (7) (8) Other \u2014 (1) \u2014 (3) \u2014 Adjusted Technology and Development (Non-GAAP)(7) $ 8 $ 9 $ 10 $ 15 $ 15 Note: Advertising expenses(1) $ 7 $ 7 $ 24 $ 23 $ 15 (1) Advertising expenses are included in Sales, marketing and operations. (2) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (3) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (4) The table below presents the timing difference within Adjusted Sales, marketing and operations related to holding costs. The amount of GAAP Holding Costs recognized during the period may be in excess of/ (less than) the amount of Resale Cohort Holding costs related to homes sold in the relevant period and included in Contribution Profit. Three Months Ended September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Total GAAP Holding Costs $ 12 $ 16 $ 21 $ 21 $ 20 Holding costs on sales - Current Period (4) (6) (5) (4) (6) Holding costs on sales - Prior Periods (12) (17) (12) (10) (9) Less: Resale Cohort Holding Costs (16) (23) (17) (14) (15) GAAP Holding Costs in excess of / (less than) Resale Holding Costs included in Contribution Profit $ (4) $ (7) $ 4 $ 7 $ 5 (5) Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was expected until the intangible assets were fully amortized in 2024." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b27", + "block_sequence": 27, + "block_sha256": "2e945ddfbc8ed70d1a531d50d57d4388969c360d5cd8bf830bd1a52f08136b6f", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 27, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "d99fa16d7ca61b3609b4133bd703e09dc6bc9b99f54f879c25436b0c37dc65e1", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk012.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b28", + "block_sequence": 28, + "block_sha256": "d00006fd058a0f1772ca46c3e06965e6eef46ff0b81ca0b3f56e5379a8178efc", + "block_type": "paragraph", + "char_count": 874, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 28, + "char_end": 874, + "char_start": 0, + "fragment_sha256": "a1ab5f2f98294e6ae62ace65525a1808a38eeaef113cb6863278588916e7d9fe", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "(6) The sum of Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development expenses is equal to Total Adjusted Operated Expenses (Non-GAAP). Refer to the \"Reconciliation of our Adjusted Operating Expenses to our Operating Expenses\" table. (7) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in \u201cDepreciation and amortization, excluding amortization of intangibles.\u201d Had this presentation been applied for the three months ended December 31, 2024 and September 30, 2024, Adjusted Net Loss would have improved by $3 million and $3 million, respectively, with no impact to Adjusted EBITDA." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b29", + "block_sequence": 29, + "block_sha256": "fd23d9886c3e8b8f9a007741611b87f753ff8469b8085b80d5068213074a0b22", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 29, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "170674c6d109e7bde8e38500b02d5ff4505c30ff1eb858e5741c2529ad7b8e8a", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q32025form8xk013.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b30", + "block_sequence": 30, + "block_sha256": "8f0780f60cab0b7a547859f57b687d3e3a58ad18c743dcd8d7e0eea24752037b", + "block_type": "paragraph", + "char_count": 2766, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", + "block_sequence": 30, + "char_end": 2766, + "char_start": 0, + "fragment_sha256": "b7712940be79b1453875050283846577c235ec428021c98473e6ecf8a70d8298", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. SEGMENT INFORMATION (Unaudited) Three Months Ended (in millions) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Revenue $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Less: Cost of revenue (849) (1,439) (1,054) (999) (1,272) Direct selling costs(1) (28) (43) (29) (23) (32) Holding costs(2) (16) (23) (17) (14) (15) Advertising and other marketing expense(3) (7) (7) (24) (24) (15) Operations(4) (12) (15) (16) (17) (18) Fixed operating expense(5) (37) (31) (39) (43) (52) Stock-based compensation (13) (13) (14) (23) (25) Stock-based compensation for market condition RSUs (14) \u2014 \u2014 \u2014 \u2014 Interest expense (34) (36) (33) (32) (34) Interest income 12 9 5 11 12 Other(6) (7) 2 (17) (33) (4) Net loss $ (90) $ (29) $ (85) $ (113) $ (78) (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (2) Represents holding costs incurred both in the period presented and in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (3) Advertising expenses are included in Sales, marketing and operations. Other marketing expenses include non-advertising marketing expenses such as acquisition leads and referrals and public relations services and are included in Sales, marketing and operations. (4) Represents operating expenses that are generally related to the volume of homes transacted during the period and tend to be variable in nature. Primarily includes workforce expenses in support of sales, and real estate inventory operations. (5) Represents operating expenses that are not directly correlated with home transaction volumes. These expenses generally include costs related to salaries and benefits for our leadership, finance, technology, human resources, legal, marketing and administrative personnel, as well as third-party professional services fees, rent expense and third-party software. (6) Other segment income (expenses) are primarily made up of depreciation and amortization, gain on deconsolidation, net, restructuring, and amortization of stock-based compensation capitalized to internally developed software. 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"sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company’s financial results, these supplemental tables include references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results. Adjusted Gross Profit and Contribution Profit To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b6"], "char_count": 2421, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ccc04db3935be29107a5c502ddf34e864b44c9a4d6cd7e41ca4512b872e6da5b", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 6, "char_end": 6341, "char_start": 3920, "fragment_sha256": "d4cb5d1128ea786e5c3551c69fc916420678ce05194f5ed807140da568474f19", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort. Contribution Profit / Margin We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort. Adjusted Net Loss and Adjusted EBITDA / Margin We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss. Exhibit 99.2"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b8"], "char_count": 3528, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ef2992d5ebb50ca93fdd37274014f8b87a5e59f111bec41e8f5fa3990554d697", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 8, "char_end": 3528, "char_start": 0, "fragment_sha256": "ab3f04649eaebea7211bafd93a3458603366b75c3ad9fe14bcb9275651a96a6a", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, intangibles amortization expense, and the amortization of stock-based compensation capitalized to internally developed software (\"IDSW\"). It excludes expenses that are not directly related to our revenue generating operations such as restructuring and legal contingency accruals. It excludes loss (gain) on extinguishment of debt as these gains or expenses were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Operating Expense We also present Adjusted Operating Expense, which is a non-GAAP financial measure that bridges the difference between Contribution Profit and Adjusted EBITDA. We believe this measure provides investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to Contribution Profit and certain charges that are non-cash, or not directly related to our revenue-generating operations are removed. Adjusted Operating Expense is a supplemental measure of our operating expenditures and has important limitations. For example, this measure excludes the impact of certain costs required to be recorded under GAAP. This measure removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. This measure could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, this measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of this measure to the most directly comparable GAAP financial measure, which is operating expenses. We calculate Adjusted Operating Expense as GAAP operating expense adjusted to exclude direct selling costs and holding costs included in determining Contribution Profit. The measure also excludes non-cash expenses of stock-based compensation, depreciation and amortization, intangibles amortization, and the amortization of stock-based compensation capitalized to IDSW. It also excludes expenses that are not directly related to our revenue-generating operations such as restructuring charges and legal contingency accruals."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b8"], "char_count": 2523, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "95565c5b8a1970b051d48895ea5f47b6e449e20acb114bbb439002cce1366a9b", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 8, "char_end": 6051, "char_start": 3528, "fragment_sha256": "ab3f04649eaebea7211bafd93a3458603366b75c3ad9fe14bcb9275651a96a6a", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, Adjusted Technology and Development We also present Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development, which are non-GAAP financial measures that provide investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to contribution profit and certain charges that are non-cash are removed. These supplemental measures of our operating expenditures have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. Specifically, Adjusted Sales, Marketing and Operations removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. These measures could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which are Sales, marketing and operations expense, General and administrative expense and Technology and development expense. We calculate Adjusted Sales, Marketing and Operations as GAAP sales, marketing and operations expenses to exclude direct selling costs and holding costs included in determining Contribution Profit. This measure also excludes non-cash expenses of stock-based compensation and amortization of intangibles associated with sales, marketing and operations assets. We calculate Adjusted General and Administrative as GAAP general and administrative expenses to exclude non-cash expenses of stock-based compensation, depreciation and amortization of intangibles associated with general and administrative assets. It also excludes expenses that are not directly related to our revenue-generating operations such as legal contingency accruals. We calculate Adjusted Technology and Development as GAAP technology and development expenses to exclude non-cash expenses of stock-based compensation, the amortization of stock-based compensation capitalized to IDSW, and depreciation and amortization associated with technology and development assets."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b10", "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b12"], "char_count": 2470, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fd514f22c7062068a6681315f3eab88a1e14bbb457cb3728b1e9330004995cf4", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 10, "char_end": 1351, "char_start": 0, "fragment_sha256": "2ef09f9004f0d5e4a6d974fa856f47029c13fcd09240cb516587928583ac6887", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 12, "char_end": 1117, "char_start": 0, "fragment_sha256": "746bfdeebdf5654565899a2b3f307041cd949fefd589f3562df5f466baba1cf4", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP MEASURES & KEY METRICS (Unaudited) Period Ended ($ in millions, except homes purchased, homes sold, homes in inventory, and margins) Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Key Metrics Total Revenue $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Gross profit $ 66 $ 128 $ 99 $ 85 $ 105 Net loss $ (90) $ (29) $ (85) $ (113) $ (78) Inventory (at period end) $ 1,053 $ 1,530 $ 2,362 $ 2,159 $ 2,145 Non-GAAP Financial Measures Adjusted Gross Profit $ 64 $ 135 $ 100 $ 75 $ 99 Selling Costs (28) (43) (29) (23) (32) Holding Costs (16) (23) (17) (14) (15) Contribution Profit $ 20 $ 69 $ 54 $ 38 $ 52 Adjusted EBITDA $ (33) $ 23 $ (30) $ (49) $ (38) Adjusted Net Loss $ (61) $ (9) $ (63) $ (77) $ (70) Margins Total Revenue 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Gross profit 7.2 % 8.2 % 8.6 % 7.8 % 7.6 % Adjusted Gross Profit 7.0 % 8.6 % 8.7 % 6.9 % 7.2 % Contribution Profit 2.2 % 4.4 % 4.7 % 3.5 % 3.8 % Net loss (9.8) % (1.9) % (7.4) % (10.4) % (5.7) % Adjusted EBITDA (3.6) % 1.5 % (2.6) % (4.5) % (2.8) % Adjusted Net Loss (6.7) % (0.6) % (5.5) % (7.1) % (5.1) % Inventory Rollforward Homes in Inventory (at beginning of period) 4,538 7,080 6,417 6,288 6,399 Homes Purchased 1,169 1,757 3,609 2,951 3,504 Homes Sold (2,568) (4,299) (2,946) (2,822) (3,615) Homes in Inventory (at period end) 3,139 4,538 7,080 6,417 6,288\n\nOPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are presented in thousands, and per share amounts) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 REVENUE $ 915 $ 1,377 $ 3,635 $ 4,069 COST OF REVENUE 849 1,272 3,342 3,721 GROSS PROFIT 66 105 293 348 OPERATING EXPENSES: Sales, marketing and operations 66 96 250 325 General and administrative 48 46 109 141 Technology and development 19 30 61 108 Restructuring 1 — 10 — Total operating expenses 134 172 430 574 LOSS FROM OPERATIONS (68) (67) (137) (226) (LOSS) GAIN ON EXTINGUISHMENT OF DEBT (1) — 9 (1) INTEREST EXPENSE (34) (34) (103) (101) OTHER INCOME – Net 14 23 28 50 LOSS BEFORE INCOME TAXES (89) (78) (203) (278) INCOME TAX EXPENSE (1) — (1) (1) NET LOSS $ (90) $ (78) $ (204) $ (279) Net loss per share attributable to common shareholders: Basic $ (0.12) $ (0.11) $ (0.28) $ (0.40) Diluted $ (0.12) $ (0.11) $ (0.28) $ (0.40) Weighted-average shares outstanding: Basic 741,939 705,359 731,722 693,796 Diluted 741,939 705,359 731,722 693,796"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b14", "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b16"], "char_count": 3336, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1f3ee17feade13ea3c458804ae9b53cbae632cebab7a153357dcd9fc9928b667", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 14, "char_end": 1456, "char_start": 0, "fragment_sha256": "11cd07e8a49c21c82f875d6dab19d15fa8dd77a93b068d2aa1609198397f3af3", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 16, "char_end": 1878, "char_start": 0, "fragment_sha256": "b30eea6d25b086e15468d912be39e1f7f5464f12fb09e0a938b086b2708048fc", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except share data) (Unaudited) September 30, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 962 $ 671 Restricted cash 490 92 Marketable securities — 8 Escrow receivable 9 6 Real estate inventory, net 1,053 2,159 Other current assets 73 61 Total current assets 2,587 2,997 PROPERTY AND EQUIPMENT – Net 31 48 RIGHT OF USE ASSETS 9 18 GOODWILL 3 3 OTHER ASSETS 70 60 TOTAL ASSETS $ 2,700 $ 3,126 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable and other accrued liabilities $ 91 $ 92 Non-recourse asset-backed debt – current portion 374 432 Convertible senior notes – current portion 439 — Interest payable 9 3 Lease liabilities – current portion 1 2 Total current liabilities 914 529 NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 966 1,492 CONVERTIBLE SENIOR NOTES – Net of current portion — 378 LEASE LIABILITIES – Net of current portion 7 13 OTHER LIABILITIES 2 1 Total liabilities 1,889 2,413 SHAREHOLDERS’ EQUITY: Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 771,534,057 and 719,990,121 shares issued, respectively; 771,534,057 and 719,990,121 shares outstanding, respectively — — Additional paid-in capital 4,740 4,438 Accumulated deficit (3,929) (3,725) Accumulated other comprehensive loss — — Total shareholders’ equity 811 713 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,700 $ 3,126\n\nOPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Nine Months Ended September 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (204) $ (279) Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: Depreciation and amortization 33 37 Amortization of right of use asset 2 4 Stock-based compensation 54 91 Inventory valuation adjustment 48 51 Change in fair value of equity securities 3 7 Other 7 6 (Gain) loss on early extinguishment of debt (9) 1 Gain on deconsolidation, net — (14) Changes in operating assets and liabilities: Escrow receivable (3) (6) Real estate inventory 1,054 (422) Other assets (15) 9 Accounts payable and other accrued liabilities 4 4 Interest payable 6 1 Lease liabilities (1) (5) Net cash provided by (used in) operating activities 979 (515) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (9) (22) Proceeds from sales, maturities, redemptions and paydowns of marketable securities 6 55 Purchase of equity investments (6) — Cash impact of deconsolidation of subsidiaries — (2) Net cash (used in) provided by investing activities (9) 31 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of convertible senior notes, net of discount 75 — Settlement of capped calls related to the convertible senior notes 1 — Proceeds from exercise of stock options 4 — Proceeds from issuance of common stock for ESPP 2 5 Proceeds from PIPE offering 41 — Proceeds from the issuance of common stock under at-the-market offering, net 198 — Proceeds from non-recourse asset-backed debt 684 417 Principal payments on non-recourse asset-backed debt (1,268) (424) Payment of loan origination fees and debt issuance costs (16) — Other financing activities (2) — Net cash used in financing activities (281) (2)"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b18", "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b20"], "char_count": 3296, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4db8410171c9271a9220171605acb2ef6f6b0df445dd61ab9adb14199ef4af9a", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 18, "char_end": 879, "char_start": 0, "fragment_sha256": "7cc33dc97de3ceb1cec7125aafaffb4aca304f76e7e28f660e395753c05a6bc7", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 20, "char_end": 2415, "char_start": 0, "fragment_sha256": "72fe48e5ea8b4a54cf983d18522e39057369c2357981bbf627776c818b61d1d0", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 689 (486) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period 763 1,540 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period $ 1,452 $ 1,054 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest $ 88 $ 93 DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: Stock-based compensation expense capitalized for internally developed software $ 3 $ 15 Principal value of 2026 Notes extinguished in Debt Exchange $ (246) $ — Principal value of 2030 Notes issued in Debt Exchange $ 246 $ — Investment in non-marketable equity securities of deconsolidated entities $ 3 $ 39 RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 962 $ 829 Restricted cash 490 225 Cash, cash equivalents, and restricted cash $ 1,452 $ 1,054\n\nOPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Gross Profit and Contribution Profit to our Gross Profit Three Months Ended (in millions, except percentages and homes sold, or as noted) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Revenue (GAAP) $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Gross profit (GAAP) $ 66 $ 128 $ 99 $ 85 $ 105 Gross Margin 7.2 % 8.2 % 8.6 % 7.8 % 7.6 % Adjustments: Inventory valuation adjustment – Current Period͏ (1)(2) 15 21 13 6 10 Inventory valuation adjustment – Prior Periods͏ (1)(3) (17) (14) (12) (16) (16) Adjusted Gross Profit $ 64 $ 135 $ 100 $ 75 $ 99 Adjusted Gross Margin 7.0 % 8.6 % 8.7 % 6.9 % 7.2 % Adjustments: Direct selling costs (4) (28) (43) (29) (23) (32) Holding costs on sales – Current Period͏ (5)(6) (4) (6) (5) (4) (6) Holding costs on sales – Prior Periods͏ (5)(7) (12) (17) (12) (10) (9) Contribution Profit $ 20 $ 69 $ 54 $ 38 $ 52 Homes sold in period 2,568 4,299 2,946 2,822 3,615 Contribution Profit per Home Sold (in thousands) $ 8 $ 16 $ 18 $ 13 $ 14 Contribution Margin 2.2 % 4.4 % 4.7 % 3.5 % 3.8 % (1) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2) Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3) Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5) Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6) Represents holding costs incurred in the period presented on homes sold in the period presented. (7) Represents holding costs incurred in prior periods on homes sold in the period presented."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b22"], "char_count": 3679, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1ca06459d46c20e07c775b96d684dd7d5d101e498b64a8b8abf52bc80ae5f420", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 22, "char_end": 3679, "char_start": 0, "fragment_sha256": "cff9bfd2a71a0e42e3835e99ba555a48ca8a96cef938519c65fd1816bbe9892f", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our Net Loss Three Months Ended (in millions, except percentages) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Revenue (GAAP) $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Net loss (GAAP) $ (90) $ (29) $ (85) $ (113) $ (78) Adjustments: Stock-based compensation 13 13 14 23 25 Stock-based compensation for market condition RSUs 14 — — — — Equity securities fair value adjustment(1) — — 3 — 3 Intangibles amortization expense(2) — — — — 1 Amortization of stock-based compensation capitalized to IDSW(3) 4 4 3 — — Inventory valuation adjustment – Current Period͏(4)(5) 15 21 13 6 10 Inventory valuation adjustment — Prior Periods͏(4)(6) (17) (14) (12) (16) (16) Restructuring(7) 1 6 3 17 — Loss (gain) on extinguishment of debt 1 (10) — 1 — Legal contingency accrual and related expenses — — — 5 — Other(8) (2) — (2) — (15) Adjusted Net Loss $ (61) $ (9) $ (63) $ (77) $ (70) Adjustments: Depreciation and amortization, excluding amortization of intangibles 5 5 5 7 10 Property financing(9) 23 29 29 28 30 Other interest expense(10) 11 7 4 4 4 Interest income(11) (12) (9) (5) (11) (12) Income tax expense 1 — — — — Adjusted EBITDA $ (33) $ 23 $ (30) $ (49) $ (38) Adjusted EBITDA Margin (3.6) % 1.5 % (2.6) % (4.5) % (2.8) % (1) Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2) Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was incurred until the intangible assets were fully amortized in 2024. (3) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024 and September 30, 2024, Adjusted Net Loss would have improved by $3 million and $3 million, respectively, with no impact to Adjusted EBITDA. (4) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (5) Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (6) Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (7) Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees’ roles, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process. (8) Primarily includes gain on deconsolidation, net and related party services income. (9) Includes interest expense on our non-recourse asset-backed debt facilities. (10) Includes amortization of debt issuance costs and loan origination fees, amortization of debt discounts, commitment fees, unused fees, other interest related costs on our asset-backed debt facilities, and interest expense related to the convertible senior notes outstanding. (11) Consists mainly of interest earned on cash, cash equivalents, restricted cash, and marketable securities."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b24"], "char_count": 2781, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a68b290abb6301207a34727a85fdf9204f0e8c690402b33e3901927af59a6303", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 24, "char_end": 2781, "char_start": 0, "fragment_sha256": "bcb45593693b650474556c9f7d2068ff4fa0c0846b1d4a2f72af7ef0e5b2f796", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Operating Expenses to our Operating Expenses Three Months Ended (in millions, except percentages) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 OPERATING EXPENSES: Sales, marketing and operations 66 86 98 88 96 General and administrative 48 28 33 41 46 Technology and development 19 21 21 33 30 Restructuring 1 6 3 17 — Total Operating Expenses (GAAP) $ 134 $ 141 $ 155 $ 179 $ 172 Operating Expenses (GAAP) $ 134 $ 141 $ 155 $ 179 $ 172 Adjustments: Direct Selling Costs(1) (28) (43) (29) (23) (32) Holding costs included in contribution profit(2) (16) (23) (17) (14) (15) Stock-based compensation (13) (13) (14) (23) (25) Stock-based compensation for market condition RSUs (14) — — — — Intangibles amortization expense(3) — — — — (1) Amortization of stock-based compensation capitalized IDSW(4) (4) (4) (3) — — Restructuring (1) (6) (3) (17) — Legal contingency accrual — — — (5) — Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (7) (10) Other — (1) — (3) 1 Total Adjusted Operating Expenses (Non-GAAP) $ 53 $ 46 $ 84 $ 87 $ 90 (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations. (2) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (“GAAP Holding Costs”). (3) Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was expected until the intangible assets were fully amortized in 2024. (4) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024 and September 30, 2024, Adjusted Net Loss would have improved by $3 million and $3 million, respectively, with no impact to Adjusted EBITDA."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b26"], "char_count": 3440, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "aa2c28c0eb69308d9731cba07a33e7576cf20b6b2313186183563fe29e9a01cf", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 26, "char_end": 3440, "char_start": 0, "fragment_sha256": "aa59805d783320bc713260d6a368c2a11a32b850b2a2cf3405c33132eb690b97", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Sales, Marketing and Operatiions; Adjusted General and Administrative; and Adjusted Technology and Developement Expenses to Their Corresponding GAAP Measures Three Months Ended (in millions) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Sales, marketing and operations (GAAP)(1) $ 66 $ 86 $ 98 $ 88 $ 96 Direct Selling Costs(2) (28) (43) (29) (23) (32) Holding costs included in contribution profit(3)(4) (16) (23) (17) (14) (15) Stock-based compensation (2) (2) (2) (2) (2) Intangibles amortization expense(5) — — — — (1) Adjusted Sales, Marketing and Operations (Non- GAAP)(6) $ 20 $ 18 $ 50 $ 49 $ 46 General and administrative (GAAP) $ 48 $ 28 $ 33 $ 41 $ 46 Stock-based compensation (9) (9) (9) (13) (16) Stock-based compensation for market condition RSUs (14) — — — — Legal contingency accrual and related expenses — — — (5) — Depreciation and amortization, excluding amortization of intangibles — — — — (2) Other — — — — 1 Adjusted General and Administrative (Non-GAAP)(6) $ 25 $ 19 $ 24 $ 23 $ 29 Technology and development (GAAP) $ 19 $ 21 $ 21 $ 33 $ 30 Stock-based compensation (2) (2) (3) (8) (7) Amortization of stock-based compensation capitalized to IDSW(7) (4) (4) (3) — — Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (7) (8) Other — (1) — (3) — Adjusted Technology and Development (Non-GAAP)(7) $ 8 $ 9 $ 10 $ 15 $ 15 Note: Advertising expenses(1) $ 7 $ 7 $ 24 $ 23 $ 15 (1) Advertising expenses are included in Sales, marketing and operations. (2) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (3) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (“GAAP Holding Costs”). (4) The table below presents the timing difference within Adjusted Sales, marketing and operations related to holding costs. The amount of GAAP Holding Costs recognized during the period may be in excess of/ (less than) the amount of Resale Cohort Holding costs related to homes sold in the relevant period and included in Contribution Profit. Three Months Ended September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Total GAAP Holding Costs $ 12 $ 16 $ 21 $ 21 $ 20 Holding costs on sales - Current Period (4) (6) (5) (4) (6) Holding costs on sales - Prior Periods (12) (17) (12) (10) (9) Less: Resale Cohort Holding Costs (16) (23) (17) (14) (15) GAAP Holding Costs in excess of / (less than) Resale Holding Costs included in Contribution Profit $ (4) $ (7) $ 4 $ 7 $ 5 (5) Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was expected until the intangible assets were fully amortized in 2024."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b28", "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#b30"], "char_count": 3642, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dc583fac804d8074c9519b5ada681d34d514fd9487e0583dc1ec83bbed25ab13", "derivation_id": "43f2dc0bd59fa6183ac69bf40b2395ab969144c4fbe5dc5aa346cc21322e19fe", "document_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 28, "char_end": 874, "char_start": 0, "fragment_sha256": "a1ab5f2f98294e6ae62ace65525a1808a38eeaef113cb6863278588916e7d9fe", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "block_sequence": 30, "char_end": 2766, "char_start": 0, "fragment_sha256": "b7712940be79b1453875050283846577c235ec428021c98473e6ecf8a70d8298", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-25-000090:exhibit992-q32025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/exhibit992-q32025form8xk.htm", "table_id": null, "text": "(6) The sum of Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development expenses is equal to Total Adjusted Operated Expenses (Non-GAAP). Refer to the \"Reconciliation of our Adjusted Operating Expenses to our Operating Expenses\" table. (7) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024 and September 30, 2024, Adjusted Net Loss would have improved by $3 million and $3 million, respectively, with no impact to Adjusted EBITDA.\n\nOPENDOOR TECHNOLOGIES INC. SEGMENT INFORMATION (Unaudited) Three Months Ended (in millions) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Revenue $ 915 $ 1,567 $ 1,153 $ 1,084 $ 1,377 Less: Cost of revenue (849) (1,439) (1,054) (999) (1,272) Direct selling costs(1) (28) (43) (29) (23) (32) Holding costs(2) (16) (23) (17) (14) (15) Advertising and other marketing expense(3) (7) (7) (24) (24) (15) Operations(4) (12) (15) (16) (17) (18) Fixed operating expense(5) (37) (31) (39) (43) (52) Stock-based compensation (13) (13) (14) (23) (25) Stock-based compensation for market condition RSUs (14) — — — — Interest expense (34) (36) (33) (32) (34) Interest income 12 9 5 11 12 Other(6) (7) 2 (17) (33) (4) Net loss $ (90) $ (29) $ (85) $ (113) $ (78) (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (2) Represents holding costs incurred both in the period presented and in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations in the period in which they are incurred (“GAAP Holding Costs”). (3) Advertising expenses are included in Sales, marketing and operations. Other marketing expenses include non-advertising marketing expenses such as acquisition leads and referrals and public relations services and are included in Sales, marketing and operations. (4) Represents operating expenses that are generally related to the volume of homes transacted during the period and tend to be variable in nature. Primarily includes workforce expenses in support of sales, and real estate inventory operations. (5) Represents operating expenses that are not directly correlated with home transaction volumes. These expenses generally include costs related to salaries and benefits for our leadership, finance, technology, human resources, legal, marketing and administrative personnel, as well as third-party professional services fees, rent expense and third-party software. (6) Other segment income (expenses) are primarily made up of depreciation and amortization, gain on deconsolidation, net, restructuring, and amortization of stock-based compensation capitalized to internally developed software. 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by the number of active listings on the Multiple Listing Service, filtered for the same markets and buybox. 2 Note: MLS OD Price-Weighted Gross Clearance Rate is defined as the number of daily contracts that enter pending status on the Multiple Listing Service (i.e. market listings), filtered for Opendoor\u2019s markets and buybox, divided by the number of active listings on the Multiple Listing Service, filtered for the same markets and buybox, and weighted by Opendoor's price point and market mix, defined by the distribution of Opendoor's listed inventory across price points and markets. 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A copy of the Supplement and the Supplemental Macro Charts is attached to this Current Report on Form 8-K as Exhibit 99.2 and 99.3, respectively. The information contained in Items 2.02 and 7.01 of this Current Report (including Exhibits 99.1, 99.2, and 99.3 attached hereto) shall not be deemed \u201cfiled\u201d for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:open-20251106.htm#b25", + "block_sequence": 25, + "block_sha256": "ceb51f1f84b7628f894076641909a6ff2852ffbb2bd4591f0389564d97779dc4", + "block_type": "heading", + "char_count": 9, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:open-20251106.htm", + "block_sequence": 25, + "char_end": 9, + "char_start": 0, + "fragment_sha256": 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Our results in the upcoming quarter are largely the outcome of us managing decisions that were made several months ago. We\u2019re focused on making the right long-term decisions for the business, not managing to short-term guidance. What matters, and what we want to be held accountable for, are the actions we take from here and the results they drive over time. That said, we want to provide you with the following guideposts: \u2022We are driving to Adjusted Net Income breakeven by the end of 2026, measured on a twelve-month go-forward basis. \u2022Q4 2025 Financial Outlook: \u25e6Acquisitions: Expected to increase at least 35% from Q3 2025 as product launches and pricing engine changes take hold. \u25e6Revenue: Expected to increase from the outlook we provided at Q2 2025 earnings, but decrease approximately 35% quarter-over-quarter due to low inventory levels from Q3 2025 reduced acquisition volumes. \u25e6Contribution Margin1: Near-term pressure as we clear old inventory; We believe we bottomed out in October and margins will improve for the remainder of the year, but Q4 2025 contribution margin will be below Q3 2025. \u25e6Adjusted EBITDA1: Q4 2025 loss expected in the high $40 millions to mid $50 millions. You can follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b15", + "block_sequence": 15, + "block_sha256": "a6d5472b2970d188397362cbeb120c141dfa00ea685622341f4da2accca23ec9", + "block_type": "heading", + "char_count": 35, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 15, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "ccf6c2cf0f1f487e4dee6c0db9db5e9ad5d5e52b2d1efdb317ea9c44fd3567ef", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s7", + "table": null, + "text": "Conference Call and Webcast Details" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b16", + "block_sequence": 16, + "block_sha256": "037e1813239020280a1488e8b395698ea53baa5ff692ed20e35de9448ae7e89a", + "block_type": "paragraph", + "char_count": 320, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 16, + "char_end": 320, + "char_start": 0, + "fragment_sha256": "3a2c6986f57aeb919641234fde1517dceab5c224c3b5f9fd6526ba8aff4f0591", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s7", + "table": null, + "text": "Opendoor will host a webcast to discuss its financial results on November 6, 2025, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor\u2019s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b17", + "block_sequence": 17, + "block_sha256": "bee3b0c71ab4d6d3fe30831f8a6898f49de6dcbb44cd92a09d86856b2468a886", + "block_type": "heading", + "char_count": 14, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 17, + "char_end": 14, + "char_start": 0, + "fragment_sha256": "dd930d2d16d35ad4c859f05048a9f04e72150ae2a23adec43f0c06ed406a1ef7", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "About Opendoor" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s8", + "table": null, + "text": "About Opendoor" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b18", + "block_sequence": 18, + "block_sha256": "cae6d2a6d621ccc8c75972266f43aa935e4b7e908e8dad3e8ff03b94d6e4a229", + "block_type": "paragraph", + "char_count": 1458, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 18, + "char_end": 1458, + "char_start": 0, + "fragment_sha256": "4ed3758c470d3d16cb6a9f69c28fcbbafba7f30ab9abbf57a960b33d674edd1c", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "About Opendoor" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s8", + "table": null, + "text": "Opendoor is a leading e-commerce platform for residential real estate transactions whose mission is to power life\u2019s progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to sell and buy a home. Opendoor is a team of problem solvers, innovators, and operators who are leading the future of real estate. Opendoor currently operates in markets nationwide. For more information, please visit www.opendoor.com 1 Opendoor has not provided a quantitative reconciliation of forecasted Contribution Profit to forecasted GAAP gross profit (loss), forecasted Contribution Margin to forecasted GAAP gross margin, nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss), GAAP gross margin, and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company\u2019s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see \u201cUse of Non-GAAP Financial Measures\u201d following the financial tables below." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b19", + "block_sequence": 19, + "block_sha256": "1d8469bf9c663edb3c938b337e8eb7b6386c9f6dc8633427fe813d5f0ad02182", + "block_type": "heading", + "char_count": 26, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 19, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "48f698fb26c93cff4f34599156ab1b29c036dd4d3e3f61d2371b673f76610166", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s9", + "table": null, + "text": "Forward Looking Statements" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b20", + "block_sequence": 20, + "block_sha256": "2c79b37984e75d5dd81a39f9abf006b41ccb19070004f0478658a68a48c0fb7c", + "block_type": "paragraph", + "char_count": 6988, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 20, + "char_end": 6988, + "char_start": 0, + "fragment_sha256": "743d04bcb5df924ead5210cb84942b315c7ad94c12d5e24e3aba45f0eabcba36", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s9", + "table": null, + "text": "This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding whether we are able to reach breakeven Adjusted Net Income by the end of 2026 on a 12-month go-forward basis by transacting with more sellers, strengthening unit economics and driving operational efficiency; whether we are able to succeed by building technology that makes selling, buying, and owning a home easier and more joyful; whether we are able to achieve management\u2019s objectives to scale acquisitions, improve unit economics and resale velocity, and build operating leverage; anticipated future results of operations and financial performance, including our fourth quarter of 2025, 2026 and 2027 financial outlook; our product offerings, including our ability to leverage AI to drive operational efficiency; the future health and status of our financial condition; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share in our existing markets or any new markets we may enter; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock. 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Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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--- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | Three Months Ended | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | | | |\n| | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | September 30, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| REVENUE | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 1,377 | | | $ | 3,635 | | | $ | 4,069 | |\n| COST OF REVENUE | 849 | | | 1,439 | | | 1,054 | | | 999 | | | 1,272 | | | 3,342 | | | 3,721 | | | | | | | | |\n| GROSS PROFIT | 66 | | | 128 | | | 99 | | | 85 | | | 105 | | | 293 | | | 348 | | | | | | | | |\n| OPERATING EXPENSES: | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Sales, marketing and operations | 66 | | | 86 | | | 98 | | | 88 | | | 96 | | | 250 | | | 325 | | | | | | | | |\n| General and administrative | 48 | | | 28 | | | 33 | | | 41 | | | 46 | | | 109 | | | 141 | | | | | | | | |\n| Technology and development | 19 | | | 21 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loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: | | | | | | | |\n| Depreciation and amortization | 33 | | | 37 | | | |\n| Amortization of right of use asset | 2 | | | 4 | | | |\n| | | | | | | | |\n| Stock-based compensation | 54 | | | 91 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Inventory valuation adjustment | 48 | | | 51 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Change in fair value of equity securities | 3 | | | 7 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Other | 7 | | | 6 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| (Gain) loss on early extinguishment of debt | (9) | | | 1 | | | |\n| Gain on deconsolidation, net | \u2014 | | | (14) | | | |\n| Changes in operating assets and liabilities: | | | | | | | |\n| Escrow receivable | (3) | | | (6) | | | |\n| Real estate inventory | 1,054 | | | (422) | | | |\n| Other assets | (15) | | | 9 | | | |\n| Accounts payable and other accrued liabilities | 4 | | | 4 | | | |\n| Interest payable | 6 | | | 1 | | | |\n| Lease liabilities | (1) | | | (5) | | | |\n| Net cash provided by (used in) operating activities | 979 | | | (515) | | | |\n| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | |\n| Purchase of property and equipment | (9) | | | (22) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 6 | | | 55 | | | |\n| Purchase of equity investments | (6) | | | \u2014 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Cash impact of deconsolidation of subsidiaries | \u2014 | | | (2) | | | |\n| Net cash (used in) provided by investing activities | (9) | | | 31 | | | |\n| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from issuance of convertible senior notes, net of discount | 75 | | | \u2014 | | | |\n| | | | | | | 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The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company\u2019s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company\u2019s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company\u2019s performance by excluding certain items that may not be indicative of the Company\u2019s recurring operating results." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b49", + "block_sequence": 49, + "block_sha256": "cf4412b7f2e978b2176133264010c82edd93914c688c938a6288ba932a7fe02a", + "block_type": "heading", + "char_count": 45, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 49, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "cf1b29446f8347dbf44d3e68ff9575480b999e280b6eb3c083fd07ac58bd12ec", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s18", + "table": null, + "text": "Adjusted Gross Profit and Contribution Profit" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b50", + "block_sequence": 50, + "block_sha256": "f3cfb30b6551441a3bbe77bf58a22571ed60536ec7666584924c117fa1614884", + "block_type": "paragraph", + "char_count": 1730, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 50, + "char_end": 1730, + "char_start": 0, + "fragment_sha256": "be052a30e7db53aabe2507012e4ccedc3a40b4a46a2942350d1a3f9148150b98", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s18", + "table": null, + "text": "To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor\u2019s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b51", + "block_sequence": 51, + "block_sha256": "3a0f4b517b2973d0284f077238ba89bbd42b072b4d09fc22bba1dad3687e0f87", + "block_type": "heading", + "char_count": 30, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 51, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "baa0cb19238757da38579cd06f1b18a8019e1e41ed4f96c6339b96ea68bd5910", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s19", + "table": null, + "text": "Adjusted Gross Profit / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b52", + "block_sequence": 52, + "block_sha256": "4d6022774af95a17dc18d15aa406e015335223e69ab92b2f6d95abe057dab923", + "block_type": "paragraph", + "char_count": 966, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 52, + "char_end": 966, + "char_start": 0, + "fragment_sha256": "62f3140fc23d7d69b87d6eceb6bd6e24d053b85b840902cc4a056be75d3eac42", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s19", + "table": null, + "text": "We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b53", + "block_sequence": 53, + "block_sha256": "530922c6281eb17366bc5afad3d135e14758fe69731bdbd8be3f74f8618ea5bf", + "block_type": "heading", + "char_count": 28, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 53, + "char_end": 28, + "char_start": 0, + "fragment_sha256": "4eedaa2d56b5e54507af525e8ebf0b1949eefc457d669b2295216ca9304155f7", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s20", + "table": null, + "text": "Contribution Profit / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b54", + "block_sequence": 54, + "block_sha256": "a3c65232767a825ecc9d53c876193982e578d4693221931b9d9ed70f0525885e", + "block_type": "paragraph", + "char_count": 654, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 54, + "char_end": 654, + "char_start": 0, + "fragment_sha256": "8e28aa29b1239c09ea02486d64731180085b17a7f67a4c22d65b6aa94f637ba5", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s20", + "table": null, + "text": "We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b55", + "block_sequence": 55, + "block_sha256": "7460ff5afa74595bed1ed49c4ec349f88984782302cbab9cee3bae99ec2b46cd", + "block_type": "page_header", + "char_count": 26, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 55, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "6c09580c898ba7f1f243df20dc138e96cf3b26da61a7a28dfe22dc8b2b89bd47", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s20", + "table": null, + 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"norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b58", + "block_sequence": 58, + "block_sha256": "f9aa17ccb15e3a675fca6f8c1e57bf3db93b3cf876860608fe8d12b3aa8a8174", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 58, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "0417672dc31cc792cda6f9f98c166b641752fa3aa6bc0a5e7f172b28d5519f79", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", + "table": null, + "text": "(Unaudited)" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b59", + "block_sequence": 59, + "block_sha256": "512940f665c2d13665d7cda06f1e78ef82dbb79c5a911960b6f4b42fa88be87b", + "block_type": "paragraph", + "char_count": 198, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 59, + "char_end": 198, + "char_start": 0, + "fragment_sha256": "a0f6ae29659d90a33390f82e630c370861c4e68f01a915a1d115010bcea06190", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", + "table": null, + "text": "The following table presents a reconciliation of our Adjusted Gross Profit and Contribution Profit to our gross profit, which is the most directly comparable GAAP measure, for the periods indicated:" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b60", + "block_sequence": 60, + "block_sha256": "27e3fb0c7e187871e9d9751f96ba86ae5ea894f4ca259f483e0ce755a34db732", + "block_type": "table", + "char_count": 2620, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 60, + "char_end": 2620, + "char_start": 0, + "fragment_sha256": "a9f48c25a4b8270e5707ed4d073e8813408c5dff68878def7ae10820a654b3f8", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": 7, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", + "table": { + "caption": null, + "flags": [ + "wide_table" + ], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.95, + "markdown": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages and homes sold, or as noted) | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | September 30, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 1,377 | | | $ | 3,635 | | | $ | 4,069 | |\n| Gross profit (GAAP) | | $ | 66 | | | $ | 128 | | | $ | 99 | | | $ | 85 | | | $ | 105 | | | $ | 293 | | | $ | 348 | |\n| Gross Margin | | 7.2 | % | | 8.2 | % | | 8.6 | % | | 7.8 | % | | 7.6 | % | | 8.1 | % | | 8.6 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Inventory valuation adjustment \u2013 Current Period(1)(2) | | 15 | | | 21 | | | 13 | | | 6 | | | 10 | | | 29 | | | 33 | | | | | | | | |\n| Inventory valuation adjustment \u2013 Prior Periods(1)(3) | | (17) | | | (14) | | | (12) | | | (16) | | | (16) | | | (23) | | | (24) | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Adjusted Gross Profit | | $ | 64 | | | $ | 135 | | | $ | 100 | | | $ | 75 | | | $ | 99 | | | $ | 299 | | | $ | 357 | |\n| Adjusted Gross Margin | | 7.0 | % | | 8.6 | % | | 8.7 | % | | 6.9 | % | | 7.2 | % | | 8.2 | % | | 8.8 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Direct selling costs(4) | | (28) | | | (43) | | | (29) | | | (23) | | | (32) | | | (100) | | | (109) | | | | | | | | |\n| Holding costs on sales \u2013 Current Period(5)(6) | | (4) | | | (6) | | | (5) | | | (4) | | | (6) | | | (33) | | | (30) | | | | | | | | |\n| Holding costs on sales \u2013 Prior Periods(5)(7) | | (12) | | | (17) | | | (12) | | | (10) | | | (9) | | | (23) | | | (14) | | | | | | | | |\n| Contribution Profit | | $ | 20 | | | $ | 69 | | | $ | 54 | | | $ | 38 | | | $ | 52 | | | $ | 143 | | | $ | 204 | |\n| Homes sold in period | | 2,568 | | | 4,299 | | | 2,946 | | | 2,822 | | | 3,615 | | | 9,813 | | | 10,771 | | | | | | | | |\n| Contribution Profit per Home Sold (in thousands) | | $ | 8 | | | $ | 16 | | | $ | 18 | | | $ | 13 | | | $ | 14 | | | $ | 15 | | | $ | 19 | |\n| Contribution Margin | | 2.2 | % | | 4.4 | % | | 4.7 | % | | 3.5 | % | | 3.8 | % | | 3.9 | % | | 5.0 | % | | | | | | | |", + "n_cols": 29, + "n_rows": 19, + "plain_text": " | | Three Months Ended | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | | | \n(in millions, except percentages and homes sold, or as noted) | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | September 30, 2024 | | 2025 | | 2024 | 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"ce9cccb459dfd5821baeeb64ee6539c1bfcf956b168c3103c68a52bff478d0d2", + "block_type": "paragraph", + "char_count": 1249, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 62, + "char_end": 1249, + "char_start": 0, + "fragment_sha256": "df526ee76f2328cf79fd0337b04f7b5d044b1d60b496835591f90d4ce24b8f52", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit", + "Adjusted Gross Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", + "table": null, + "text": "(1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5)Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b63", + "block_sequence": 63, + "block_sha256": "37935488b247cdf343c0c8144ff521e96ad9f18f66bbb30d6e7419e323a258dd", + "block_type": "heading", + "char_count": 37, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 63, + "char_end": 37, + "char_start": 0, + "fragment_sha256": "7d73a982a3059ce2d3fb2d6b67792ead1f8b44bb37c4d2e384f2b18bb474ec56", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s22", + "table": null, + "text": "Adjusted Net Loss and Adjusted EBITDA" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b64", + "block_sequence": 64, + "block_sha256": "30e3586e1712e96c1479714394b97d9b879cbd2828d27d768e91ef2ae245842e", + "block_type": "paragraph", + "char_count": 1547, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 64, + "char_end": 1547, + "char_start": 0, + "fragment_sha256": "a1a8ccfd071c8de8eda06c6ff64659d7fadb79fec3b42f3c93f08264bb446d21", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s22", + "table": null, + "text": "We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b65", + "block_sequence": 65, + "block_sha256": "236a9f2403017a5277b663ccb31ec43d8c2bfa477b0ef7a6739ae4ae9f4de383", + "block_type": "heading", + "char_count": 17, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 65, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "cb70ddf5f8ea6dedb56e75aef3d884bf0809082eeb0587d69c740ed25a2bff05", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA", + "Adjusted Net Loss" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s23", + "table": null, + "text": "Adjusted Net Loss" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b66", + "block_sequence": 66, + "block_sha256": "ba316681d6852eaf6fd4f55d2506d486638f367643e65cd8d37ef0b2d4033aaf", + "block_type": "paragraph", + "char_count": 1248, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 66, + "char_end": 1248, + "char_start": 0, + "fragment_sha256": "829a0b75c777ad33a3ff73cb6deab0cea7b41d5f88ac222d43436fdd807d2a9d", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA", + "Adjusted Net Loss" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s23", + "table": null, + "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, intangibles amortization expense, and the amortization of stock-based compensation capitalized to internally developed software (\u201cIDSW\u201d). It excludes expenses that are not directly related to our revenue-generating operations such as restructuring and legal contingency accruals. It also excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date." + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b67", + "block_sequence": 67, + "block_sha256": "e21a9b231049964de5ed48be4f1552178df178466705ae25a8ad92f9d827c980", + "block_type": "heading", + "char_count": 24, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 67, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "ac44008dd990c7ef1bad8982285a2d3ddeb230acc700e6c05708926dcdc574ab", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA", + "Adjusted Net Loss", + "Adjusted EBITDA / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s24", + "table": null, + "text": "Adjusted EBITDA / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b68", + "block_sequence": 68, + "block_sha256": "dfcdd3eb3c508d47aa6b0f99c68aa27a5d519764353000222958249f2ccea5c0", + "block_type": "paragraph", + "char_count": 598, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 68, + "char_end": 598, + "char_start": 0, + "fragment_sha256": "be86067c82d7130ef9ef84b3f3cfd8254f2d781e91fad24e7d514b62fd4b394b", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA", + "Adjusted Net Loss", + "Adjusted EBITDA / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s24", + "table": null, + "text": "We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. The following table presents a reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our net loss, which is the most directly comparable GAAP measure, for the periods indicated:" + }, + { + "block_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b69", + "block_sequence": 69, + "block_sha256": "16bae611e038b8e28473e6df762ea59dae83c83f5c504b56faaaf85c7cb02d02", + "block_type": "table", + "char_count": 3791, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", + "block_sequence": 69, + "char_end": 3791, + "char_start": 0, + "fragment_sha256": "1a12df0a568e574474f9c66282a48aad1720284b5fd6ff1cd7de7986bc646688", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA", + "Adjusted Net Loss", + "Adjusted EBITDA / Margin" + ], + "table_index": 8, + "tag_name": "table" + }, + "section_id": 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| | | |\n| Homes purchased | | 1,169 | | | | | | | | | 3,504 | | | | | | | | | | | |\n| Homes in inventory (at period end) | | 3,139 | | | | | | | | | 6,288 | | | | | | | | | | | |\n| Inventory (at period end) | | $ | 1,053 | | | | | | | | | $ | 2,145 | | | | | | | | | |\n| Homes under contract to purchase (at period end) | | 526 | | | | | | | | | 1,006 | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | |\n| Non-GAAP Financial Highlights (1) | | | | | | | | | | | | | | | | | | | | | | |\n| Contribution Profit | | $ | 20 | | | | | | | | | $ | 52 | | | | | | | | | |\n| Contribution Margin | | 2.2 | % | | | | | | | | 3.8 | % | | | | | | | | | | |\n| Adjusted EBITDA | | $ | (33) | | | | | | | | | $ | (38) | | | | | | | | | |\n| Adjusted EBITDA Margin | | (3.6) | % | | | | | | | | (2.8) | % | | | | | | | | | | |\n| Adjusted Net Loss | | $ | (61) | | | | | | | | | $ | (70) | | | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b12"], "char_count": 155, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3bb7b2e5b1039668b89ffc7ecc64a57e256d00f540eb2c5be4e8c5317426760c", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EX-99.1", "Third Quarter 2025 Key Highlights"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 12, "char_end": 155, "char_start": 0, "fragment_sha256": "1ffb275612f8a831a1744a3d261ec2581d5f66d2a9b8d75b7dfc61feaba6ff46", "heading_path": ["EX-99.1", "Third Quarter 2025 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"char_count": 1408, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "41079ae2048797c76fa4690c89c2e1648be74af932277363dcda0c7ef255c3f9", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 14, "char_end": 1408, "char_start": 0, "fragment_sha256": "f5043e5a440c644de377aac87d91030f382b79d4e53bdf1d77b24b91ae4e7c64", "heading_path": ["EX-99.1", "Financial Outlook"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s6", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "We are adjusting our traditional quarterly guidance as we rebuild Opendoor. Our results in the upcoming quarter are largely the outcome of us managing decisions that were made several months ago. We’re focused on making the right long-term decisions for the business, not managing to short-term guidance. What matters, and what we want to be held accountable for, are the actions we take from here and the results they drive over time. That said, we want to provide you with the following guideposts: •We are driving to Adjusted Net Income breakeven by the end of 2026, measured on a twelve-month go-forward basis. •Q4 2025 Financial Outlook: ◦Acquisitions: Expected to increase at least 35% from Q3 2025 as product launches and pricing engine changes take hold. ◦Revenue: Expected to increase from the outlook we provided at Q2 2025 earnings, but decrease approximately 35% quarter-over-quarter due to low inventory levels from Q3 2025 reduced acquisition volumes. ◦Contribution Margin1: Near-term pressure as we clear old inventory; We believe we bottomed out in October and margins will improve for the remainder of the year, but Q4 2025 contribution margin will be below Q3 2025. ◦Adjusted EBITDA1: Q4 2025 loss expected in the high $40 millions to mid $50 millions. You can follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b16"], "char_count": 320, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "037e1813239020280a1488e8b395698ea53baa5ff692ed20e35de9448ae7e89a", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 16, "char_end": 320, "char_start": 0, "fragment_sha256": "3a2c6986f57aeb919641234fde1517dceab5c224c3b5f9fd6526ba8aff4f0591", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s7", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "Opendoor will host a webcast to discuss its financial results on November 6, 2025, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b18"], "char_count": 1458, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cae6d2a6d621ccc8c75972266f43aa935e4b7e908e8dad3e8ff03b94d6e4a229", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "About Opendoor"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 18, "char_end": 1458, "char_start": 0, "fragment_sha256": "4ed3758c470d3d16cb6a9f69c28fcbbafba7f30ab9abbf57a960b33d674edd1c", "heading_path": ["EX-99.1", "Financial Outlook", "About Opendoor"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s8", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "Opendoor is a leading e-commerce platform for residential real estate transactions whose mission is to power life’s progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to sell and buy a home. Opendoor is a team of problem solvers, innovators, and operators who are leading the future of real estate. Opendoor currently operates in markets nationwide. For more information, please visit www.opendoor.com 1 Opendoor has not provided a quantitative reconciliation of forecasted Contribution Profit to forecasted GAAP gross profit (loss), forecasted Contribution Margin to forecasted GAAP gross margin, nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss), GAAP gross margin, and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see “Use of Non-GAAP Financial Measures” following the financial tables below."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b20"], "char_count": 2027, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b4c8f00a5a928227540512167bbc16809913df41bd82752b6fb49b4f8a3ce41a", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 20, "char_end": 2027, "char_start": 0, "fragment_sha256": "743d04bcb5df924ead5210cb84942b315c7ad94c12d5e24e3aba45f0eabcba36", "heading_path": ["EX-99.1", "Financial Outlook", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s9", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding whether we are able to reach breakeven Adjusted Net Income by the end of 2026 on a 12-month go-forward basis by transacting with more sellers, strengthening unit economics and driving operational efficiency; whether we are able to succeed by building technology that makes selling, buying, and owning a home easier and more joyful; whether we are able to achieve management’s objectives to scale acquisitions, improve unit economics and resale velocity, and build operating leverage; anticipated future results of operations and financial performance, including our fourth quarter of 2025, 2026 and 2027 financial outlook; our product offerings, including our ability to leverage AI to drive operational efficiency; the future health and status of our financial condition; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b20"], "char_count": 3895, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4847745cfed29d5da90a647165d2b17631bd9b23dd11bd5bde8a11a85e1c02ca", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 20, "char_end": 5922, "char_start": 2027, "fragment_sha256": "743d04bcb5df924ead5210cb84942b315c7ad94c12d5e24e3aba45f0eabcba36", "heading_path": ["EX-99.1", "Financial Outlook", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s9", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share in our existing markets or any new markets we may enter; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock. 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EXPENSE | (34) | | | (36) | | | (33) | | | (32) | | | (34) | | | (103) | | | (101) | | | | | | | | |\n| OTHER INCOME – Net | 14 | | | 10 | | | 4 | | | 14 | | | 23 | | | 28 | | | 50 | | | | | | | | |\n| LOSS BEFORE INCOME TAXES | (89) | | | (29) | | | (85) | | | (113) | | | (78) | | | (203) | | | (278) | | | | | | | | |\n| INCOME TAX EXPENSE | (1) | | | — | | | — | | | — | | | — | | | (1) | | | (1) | | | | | | | | |\n| NET LOSS | $ | (90) | | | $ | (29) | | | $ | (85) | | | $ | (113) | | | $ | (78) | | | $ | (204) | | | $ | (279) | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Net loss per share attributable to common shareholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Basic | $ | (0.12) | | | $ | (0.04) | | | $ | (0.12) | | | $ | (0.16) | | | $ | (0.11) | | | $ | (0.28) | | | $ | (0.40) | |\n| Diluted | $ | (0.12) | | | $ | (0.04) | | | $ | (0.12) | | | $ | (0.16) | | | $ | (0.11) | | | $ 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cash | | 490 | | | 92 | | | |\n| Marketable securities | | — | | | 8 | | | |\n| Escrow receivable | | 9 | | | 6 | | | |\n| | | | | | | | | |\n| Real estate inventory, net | | 1,053 | | | 2,159 | | | |\n| Other current assets | | 73 | | | 61 | | | |\n| Total current assets | | 2,587 | | | 2,997 | | | |\n| PROPERTY AND EQUIPMENT – Net | | 31 | | | 48 | | | |\n| RIGHT OF USE ASSETS | | 9 | | | 18 | | | |\n| GOODWILL | | 3 | | | 3 | | | |\n| | | | | | | | | |\n| OTHER ASSETS | | 70 | | | 60 | | | |\n| TOTAL ASSETS | | $ | 2,700 | | | $ | 3,126 | |\n| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | |\n| CURRENT LIABILITIES: | | | | | | | | |\n| Accounts payable and other accrued liabilities | | $ | 91 | | | $ | 92 | |\n| Non-recourse asset-backed debt – current portion | | 374 | | | 432 | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| Convertible senior notes – current portion | | 439 | | | — | | | |\n| Interest payable | | 9 | | | 3 | | | |\n| Lease liabilities – current portion | | 1 | | | 2 | | | |\n| Total current liabilities | | 914 | | | 529 | | | |\n| NON-RECOURSE ASSET-BACKED DEBT – Net of current portion | | 966 | | | 1,492 | | | |\n| CONVERTIBLE SENIOR NOTES – Net of current portion | | — | | | 378 | | | |\n| | | | | | | | | |\n| LEASE LIABILITIES – Net of current portion | | 7 | | | 13 | | | |\n| OTHER LIABILITIES | | 2 | | | 1 | | | |\n| Total liabilities | | 1,889 | | | 2,413 | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| SHAREHOLDERS’ EQUITY: | | | | | | | | |\n| Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 771,534,057 and 719,990,121 shares issued, respectively; 771,534,057 and 719,990,121 shares outstanding, respectively | | — | | | — | | | |\n| Additional paid-in capital | | 4,740 | | | 4,438 | | | |\n| Accumulated deficit | | (3,929) | | | (3,725) | | | |\n| 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activities: | | | | | | | |\n| Depreciation and amortization | 33 | | | 37 | | | |\n| Amortization of right of use asset | 2 | | | 4 | | | |\n| | | | | | | | |\n| Stock-based compensation | 54 | | | 91 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Inventory valuation adjustment | 48 | | | 51 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Change in fair value of equity securities | 3 | | | 7 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Other | 7 | | | 6 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| (Gain) loss on early extinguishment of debt | (9) | | | 1 | | | |\n| Gain on deconsolidation, net | — | | | (14) | | | |\n| Changes in operating assets and liabilities: | | | | | | | |\n| Escrow receivable | (3) | | | (6) | | | |\n| Real estate inventory | 1,054 | | | (422) | | | |\n| Other assets | (15) | | | 9 | | | |\n| Accounts payable and other accrued liabilities | 4 | | | 4 | | | |\n| Interest payable | 6 | | | 1 | | | |\n| Lease liabilities | (1) | | | (5) | | | |\n| Net cash provided by (used in) operating activities | 979 | | | (515) | | | |\n| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | |\n| Purchase of property and equipment | (9) | | | (22) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 6 | | | 55 | | | |\n| Purchase of equity investments | (6) | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Cash impact of deconsolidation of subsidiaries | — | | | (2) | | | |\n| Net cash (used in) provided by investing activities | (9) | | | 31 | | | |\n| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from issuance of convertible senior notes, net of discount | 75 | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Settlement of capped calls related to the convertible senior notes | 1 | | | — | | | |\n| Proceeds from exercise of stock options | 4 | | | — | | | |\n| Proceeds from issuance of common stock for ESPP | 2 | | | 5 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from PIPE offering | 41 | | | — | | | |\n| Proceeds from the issuance of common stock under at-the-market offering, net | 198 | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from non-recourse asset-backed debt | 684 | | | 417 | | | |\n| Principal payments on non-recourse asset-backed debt | (1,268) | | | (424) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Payment of loan origination fees and debt issuance costs | (16) | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Other financing activities | (2) | | | — | | | |\n| Net cash used in financing activities | (281) | | | (2) | | | |\n| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 689 | | | (486) | | | |\n| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period | 763 | | | 1,540 | | | |\n| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period | $ | 1,452 | | | $ | 1,054 | |\n| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $ | 88 | | | $ | 93 | |\n| DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Stock-based compensation expense capitalized for internally developed software | $ | 3 | | | $ | 15 | |\n| Principal value of 2026 Notes extinguished in Debt Exchange | $ | (246) | | | $ | — | |\n| Principal value of 2030 Notes issued in Debt Exchange | $ | 246 | | | $ | — | |\n| | | | | | | | |\n| Investment in non-marketable equity securities of deconsolidated entities | $ | 3 | | | $ | 39 | |\n| RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: | | | | | | | |\n| Cash and cash equivalents | $ | 962 | | | $ | 829 | |\n| Restricted cash | 490 | | | 225 | | | |\n| Cash, cash equivalents, and restricted cash | $ | 1,452 | | | $ | 1,054 | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b48"], "char_count": 1234, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "40583c03f1d3b0e2e16efb16add734383057d49d69eee7f83c2684672ce6e3fd", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 48, "char_end": 1234, "char_start": 0, "fragment_sha256": "59205403c1cf321612cff489025e62246c60944c87d20a3b172b788538b0b4ba", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p24", "passage_kind": "narrative", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s17", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "To provide investors with additional information regarding the Company’s financial results, this press release includes references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b50"], "char_count": 1730, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f3cfb30b6551441a3bbe77bf58a22571ed60536ec7666584924c117fa1614884", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 50, "char_end": 1730, "char_start": 0, "fragment_sha256": "be052a30e7db53aabe2507012e4ccedc3a40b4a46a2942350d1a3f9148150b98", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s18", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b52"], "char_count": 966, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4d6022774af95a17dc18d15aa406e015335223e69ab92b2f6d95abe057dab923", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 52, "char_end": 966, "char_start": 0, "fragment_sha256": "62f3140fc23d7d69b87d6eceb6bd6e24d053b85b840902cc4a056be75d3eac42", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p26", "passage_kind": "narrative", "passage_sequence": 26, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s19", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b54"], "char_count": 654, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a3c65232767a825ecc9d53c876193982e578d4693221931b9d9ed70f0525885e", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "Contribution Profit / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 54, "char_end": 654, "char_start": 0, "fragment_sha256": "8e28aa29b1239c09ea02486d64731180085b17a7f67a4c22d65b6aa94f637ba5", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "Contribution Profit / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s20", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b57", "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b58", "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b59"], "char_count": 262, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1a993c4a3eaa7970ba15341d033a4cefd409e70c50863249d87a2e8864081c79", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 57, "char_end": 49, "char_start": 0, "fragment_sha256": "395a21a03e186ca1839aa8dff22871752c006e55a2788d87e399882e6a8266e1", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 58, "char_end": 11, "char_start": 0, "fragment_sha256": "0417672dc31cc792cda6f9f98c166b641752fa3aa6bc0a5e7f172b28d5519f79", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 59, "char_end": 198, "char_start": 0, "fragment_sha256": "a0f6ae29659d90a33390f82e630c370861c4e68f01a915a1d115010bcea06190", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "(In millions, except percentages, and homes sold)\n\n(Unaudited)\n\nThe following table presents a reconciliation of our Adjusted Gross Profit and Contribution Profit to our gross profit, which is the most directly comparable GAAP measure, for the periods indicated:"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b60"], "char_count": 2961, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "291f031684152cb42be996416465e48cea62b716d8f44075ba9e35b1d3230004", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 60, "char_end": 2620, "char_start": 0, "fragment_sha256": "a9f48c25a4b8270e5707ed4d073e8813408c5dff68878def7ae10820a654b3f8", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": 7, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p29", "passage_kind": "table", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b60", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages and homes sold, or as noted) | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | September 30, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 1,377 | | | $ | 3,635 | | | $ | 4,069 | |\n| Gross profit (GAAP) | | $ | 66 | | | $ | 128 | | | $ | 99 | | | $ | 85 | | | $ | 105 | | | $ | 293 | | | $ | 348 | |\n| Gross Margin | | 7.2 | % | | 8.2 | % | | 8.6 | % | | 7.8 | % | | 7.6 | % | | 8.1 | % | | 8.6 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Inventory valuation adjustment – Current Period(1)(2) | | 15 | | | 21 | | | 13 | | | 6 | | | 10 | | | 29 | | | 33 | | | | | | | | |\n| Inventory valuation adjustment – Prior Periods(1)(3) | | (17) | | | (14) | | | (12) | | | (16) | | | (16) | | | (23) | | | (24) | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Adjusted Gross Profit | | $ | 64 | | | $ | 135 | | | $ | 100 | | | $ | 75 | | | $ | 99 | | | $ | 299 | | | $ | 357 | |\n| Adjusted Gross Margin | | 7.0 | % | | 8.6 | % | | 8.7 | % | | 6.9 | % | | 7.2 | % | | 8.2 | % | | 8.8 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Direct selling costs(4) | | (28) | | | (43) | | | (29) | | | (23) | | | (32) | | | (100) | | | (109) | | | | | | | | |\n| Holding costs on sales – Current Period(5)(6) | | (4) | | | (6) | | | (5) | | | (4) | | | (6) | | | (33) | | | (30) | | | | | | | | |\n| Holding costs on sales – Prior Periods(5)(7) | | (12) | | | (17) | | | (12) | | | (10) | | | (9) | | | (23) | | | (14) | | | | | | | | |\n| Contribution Profit | | $ | 20 | | | $ | 69 | | | $ | 54 | | | $ | 38 | | | $ | 52 | | | $ | 143 | | | $ | 204 | |\n| Homes sold in period | | 2,568 | | | 4,299 | | | 2,946 | | | 2,822 | | | 3,615 | | | 9,813 | | | 10,771 | | | | | | | | |\n| Contribution Profit per Home Sold (in thousands) | | $ | 8 | | | $ | 16 | | | $ | 18 | | | $ | 13 | | | $ | 14 | | | $ | 15 | | | $ | 19 | |\n| Contribution Margin | | 2.2 | % | | 4.4 | % | | 4.7 | % | | 3.5 | % | | 3.8 | % | | 3.9 | % | | 5.0 | % | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b61", "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b62"], "char_count": 1267, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7d844b134d48a1df68b56fd8c1091917d13475e9982a0b47692178322fc85f63", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 61, "char_end": 16, "char_start": 0, "fragment_sha256": "f32497db0e534f3cac2134131e10d08e6e47abcc4f817b11288fab40531d3189", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 62, "char_end": 1249, "char_start": 0, "fragment_sha256": "df526ee76f2328cf79fd0337b04f7b5d044b1d60b496835591f90d4ce24b8f52", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit", "Adjusted Gross Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "________________\n\n(1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5)Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b64"], "char_count": 1547, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "30e3586e1712e96c1479714394b97d9b879cbd2828d27d768e91ef2ae245842e", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 64, "char_end": 1547, "char_start": 0, "fragment_sha256": "a1a8ccfd071c8de8eda06c6ff64659d7fadb79fec3b42f3c93f08264bb446d21", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s22", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b66"], "char_count": 1248, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ba316681d6852eaf6fd4f55d2506d486638f367643e65cd8d37ef0b2d4033aaf", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA", "Adjusted Net Loss"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 66, "char_end": 1248, "char_start": 0, "fragment_sha256": "829a0b75c777ad33a3ff73cb6deab0cea7b41d5f88ac222d43436fdd807d2a9d", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA", "Adjusted Net Loss"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s23", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, intangibles amortization expense, and the amortization of stock-based compensation capitalized to internally developed software (“IDSW”). It excludes expenses that are not directly related to our revenue-generating operations such as restructuring and legal contingency accruals. It also excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b68"], "char_count": 598, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dfcdd3eb3c508d47aa6b0f99c68aa27a5d519764353000222958249f2ccea5c0", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA", "Adjusted Net Loss", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 68, "char_end": 598, "char_start": 0, "fragment_sha256": "be86067c82d7130ef9ef84b3f3cfd8254f2d781e91fad24e7d514b62fd4b394b", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA", "Adjusted Net Loss", "Adjusted EBITDA / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s24", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": null, "text": "We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. The following table presents a reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our net loss, which is the most directly comparable GAAP measure, for the periods indicated:"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b69"], "char_count": 4176, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1ba123aff998eed796427224ed766499e8a32f66762cc5eb3879ad33cc110ae4", "derivation_id": "fb172fc098b1dff1d819e3f7110d0a6d3e7da9583d5bfff8f8718bf973731435", "document_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-06", "filing_id": "sec:0001801169:0001801169-25-000090", "flags": ["oversize_table_passage"], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA", "Adjusted Net Loss", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "block_sequence": 69, "char_end": 3791, "char_start": 0, "fragment_sha256": "1a12df0a568e574474f9c66282a48aad1720284b5fd6ff1cd7de7986bc646688", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA", "Adjusted Net Loss", "Adjusted EBITDA / Margin"], "table_index": 8, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#p34", "passage_kind": "table", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-06", "section_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#s24", "source_artifact_id": "sec:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/q32025formxex991earningsre.htm", "table_id": "norm:0001801169:0001801169-25-000090:q32025formxex991earningsre.htm#b69", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages) | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | September 30, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 1,377 | | | $ | 3,635 | | | $ | 4,069 | |\n| Net loss (GAAP) | | $ | (90) | | | $ | (29) | | | $ | (85) | | | $ | (113) | | | $ | (78) | | | $ | (204) | | | $ | (279) | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Stock-based compensation | | 13 | | | 13 | | | 14 | | | 23 | | | 25 | | | 40 | | | 91 | | | | | | | | |\n| Stock-based compensation for market condition RSUs | | 14 | | | — | | | — | | | — | | | — | | | 14 | | | — | | | | | | | | |\n| Equity securities fair value adjustment(1) | | — | | | — | | | 3 | | | — | | | 3 | | | 3 | | | 7 | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Intangibles amortization expense(2) | | — | | | — | | | — | | | — | | | 1 | | | — | | | 4 | | | | | | | | |\n| Amortization of stock-based compensation capitalized to IDSW(3) | | 4 | | | 4 | | | 3 | | | — | | | — | | | 11 | | | — | | | | | | | | |\n| Inventory valuation adjustment – Current Period(4)(5) | | 15 | | | 21 | | | 13 | | | 6 | | | 10 | | | 29 | | | 33 | | | | | | | | |\n| Inventory valuation adjustment — Prior Periods(4)(6) | | (17) | | | (14) | | | (12) | | | (16) | | | (16) | | | 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Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040966:ny20058304x3_8k.htm#b21"], "char_count": 1095, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "172a084bcce914a918cfbfd6faa3eb8cbc00494ab4ccb36f6277547b6285c033", "derivation_id": "e118844b2f11638fbc6d568092d786a0cc08040a0e837df4a93d03384f7e1828", "document_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-07", "filing_id": "sec:0001801169:0001140361-25-040966", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 8.01 Other Events."], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_8k.htm", "block_sequence": 21, "char_end": 1095, "char_start": 0, "fragment_sha256": "105da98e8946a40e79560da015bdae1f524d10c7beaff84f2200848fc1e43786", "heading_path": ["N/A", "Item 8.01 Other Events."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_8k.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-07", "section_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_8k.htm#s12", "source_artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040966/ny20058304x3_8k.htm", "table_id": null, "text": "Opendoor Technologies Inc. (the “Company”) previously entered into share purchase agreements, dated November 6, 2025, by and between the Company and each purchaser named therein. On November 7, 2025, the Company filed a prospectus supplement, dated November 6, 2025 (the “Prospectus Supplement”), with the Securities and Exchange Commission to register the issuance and sale by the Company of an aggregate of 180,580,200 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a price of $6.56 per share pursuant to the share purchase agreements and the Company’s effective shelf registration statement on Form S-3 (File No. 333-279080) (the “Registration Statement”). The Company is filing this current report to provide the legal opinion of Latham & Watkins LLP relating to the validity of the issuance and sale of the shares of Common Stock covered by the Prospectus Supplement, which opinion is filed as Exhibit 5.1 to this Current Report on Form 8-K and is filed with reference to, and is hereby incorporated by reference into, the Registration Statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-040966:ny20058304x3_8k.htm#b23"], "char_count": 13, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "daa054f78f95872d0d1b76cf4c4e6c3080a91094b79f7ff8db174b7b15f0d211", "derivation_id": "e118844b2f11638fbc6d568092d786a0cc08040a0e837df4a93d03384f7e1828", "document_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-07", "filing_id": "sec:0001801169:0001140361-25-040966", "flags": 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Scottsdale Road, Suite 1000 Tempe, AZ 85288 Re: Registration Statement on Form S-3 (Registration No. 333-279080) To the addressee set forth above: We have acted as special counsel to Opendoor Technologies Inc., a Delaware corporation (the \u201cCompany\u201d), in connection with the proposed issuance of 180,580,200 shares of common stock, $0.0001 par value per share (the \u201cShares\u201d). The Shares are included in a registration statement on Form S-3 under the Securities Act of 1933, as amended (the \u201cAct\u201d), filed with the Securities and Exchange Commission (the \u201cCommission\u201d) on May 2, 2024 (Registration No. 333-279080) (as amended, the \u201cRegistration Statement\u201d) and are being offered pursuant to a base prospectus dated May 2, 2024 (the \u201cBase Prospectus\u201d), a preliminary prospectus supplement, dated November 5, 2025, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the \u201cPreliminary Prospectus\u201d), and a prospectus supplement dated November 6, 2025, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the \u201cProspectus\u201d). The Shares are being sold pursuant to share purchase agreements dated November 6, 2025 by and between the Company and each purchaser named therein (the \u201cPurchase Agreements\u201d). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, the Preliminary Prospectus or the Prospectus, other than as expressly stated herein with respect to the issuance of the Shares. As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the \u201cDGCL\u201d), and we express no opinion with respect to any other laws." + }, + { + "block_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#b8", + "block_sequence": 8, + "block_sha256": "66f72cf9b8917cafd16bc304db3aa969110dd5d65853bbbb8358dbaf30a9a3de", + "block_type": "image", + "char_count": 23, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", + "block_sequence": 8, + "char_end": 23, + "char_start": 0, + "fragment_sha256": "8a2ca27fed1700469584fd420aa01f74555035885c09174d40875fd28f853442", + "heading_path": [ + "EXHIBIT 5.1", + "Exhibit 5.1" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#s3", + "table": null, + "text": "November 7, 2025 Page 2" + }, + { + "block_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#b9", + "block_sequence": 9, + "block_sha256": "249221c4d4b5ec28381b63993a5280cc20415dcfcf6e40d1f0b2881a76064cf2", + "block_type": "paragraph", + "char_count": 1448, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", + "block_sequence": 9, + "char_end": 1448, + "char_start": 0, + "fragment_sha256": "0d055ecf607362962304e8446e62b78f668cb9716f131bf488866cc95d36b3e7", + "heading_path": [ + "EXHIBIT 5.1", + "Exhibit 5.1" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#s3", + "table": null, + "text": "Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Purchase Agreements, the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL. This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Company\u2019s Current Report on Form 8-K dated November 7, 2025 and to the reference to our firm contained in the Preliminary Prospectus and the Prospectus under the heading \u201cLegal Matters.\u201d In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. 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["norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#b7"], "char_count": 2163, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "51f8e4ff48c314a3a4d9307f12c2e3e6646215ab6fa39d798ea8b26bc13995d2", "derivation_id": "d76600d31fa4ad5cc5e9bbb622c89559b0174b1f7cebbac2fc8cd81eef97bcf9", "document_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", "document_type": "other", "exhibit_type": "EX-5.1", "filing_date": "2025-11-07", "filing_id": "sec:0001801169:0001140361-25-040966", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 5.1", "Exhibit 5.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", "block_sequence": 7, "char_end": 2163, "char_start": 0, "fragment_sha256": "0801597a7427748cb84d27351682336d081fc34c19ae6a56c76e5cf1aee9d9e9", "heading_path": ["EXHIBIT 5.1", "Exhibit 5.1"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-07", "section_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#s3", "source_artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040966/ny20058304x3_ex5-1.htm", "table_id": null, "text": "Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1000 Tempe, AZ 85288 Re: Registration Statement on Form S-3 (Registration No. 333-279080) To the addressee set forth above: We have acted as special counsel to Opendoor Technologies Inc., a Delaware corporation (the “Company”), in connection with the proposed issuance of 180,580,200 shares of common stock, $0.0001 par value per share (the “Shares”). The Shares are included in a registration statement on Form S-3 under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on May 2, 2024 (Registration No. 333-279080) (as amended, the “Registration Statement”) and are being offered pursuant to a base prospectus dated May 2, 2024 (the “Base Prospectus”), a preliminary prospectus supplement, dated November 5, 2025, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the “Preliminary Prospectus”), and a prospectus supplement dated November 6, 2025, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the “Prospectus”). The Shares are being sold pursuant to share purchase agreements dated November 6, 2025 by and between the Company and each purchaser named therein (the “Purchase Agreements”). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, the Preliminary Prospectus or the Prospectus, other than as expressly stated herein with respect to the issuance of the Shares. As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the “DGCL”), and we express no opinion with respect to any other laws."} +{"artifact_role": "ex5-01", "block_ids": ["norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#b9"], "char_count": 1448, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "249221c4d4b5ec28381b63993a5280cc20415dcfcf6e40d1f0b2881a76064cf2", "derivation_id": "d76600d31fa4ad5cc5e9bbb622c89559b0174b1f7cebbac2fc8cd81eef97bcf9", "document_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", "document_type": "other", "exhibit_type": "EX-5.1", "filing_date": "2025-11-07", "filing_id": "sec:0001801169:0001140361-25-040966", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 5.1", "Exhibit 5.1"], "items": ["8.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", "block_sequence": 9, "char_end": 1448, "char_start": 0, "fragment_sha256": "0d055ecf607362962304e8446e62b78f668cb9716f131bf488866cc95d36b3e7", "heading_path": ["EXHIBIT 5.1", "Exhibit 5.1"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-07", "section_id": "norm:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm#s3", "source_artifact_id": "sec:0001801169:0001140361-25-040966:ny20058304x3_ex5-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125040966/ny20058304x3_ex5-1.htm", "table_id": null, "text": "Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Purchase Agreements, the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL. This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Company’s Current Report on Form 8-K dated November 7, 2025 and to the reference to our firm contained in the Preliminary Prospectus and the Prospectus under the heading “Legal Matters.” In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. 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Emerging growth company \u2610 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \u2610" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b19", + "block_sequence": 19, + "block_sha256": "3e937cefe57245dcb27e1369997f7aa3e3bb53af0e5cb5909810054203bf25f0", + "block_type": "heading", + "char_count": 53, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", + "block_sequence": 19, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "1d314ef2193656b83e351ba9bf5a79b907f75e5ad0b3352a26115eed37f14e1b", + "heading_path": [ + "N/A", + "Item 1.01 Entry into a Material Definitive Agreement." + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s12", + "table": null, + "text": "Item 1.01 Entry into a Material Definitive Agreement." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b20", + "block_sequence": 20, + "block_sha256": "1cc6d087294dd261d715f3fed86c4b6d9c15c767b6364b3737a069cc4078b153", + "block_type": "heading", + "char_count": 29, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", + "block_sequence": 20, + "char_end": 29, + "char_start": 0, + "fragment_sha256": "207bf9e8b03756a1a845ea2f37485e9a38a20a654220a4b1874adb162d393bf0", + "heading_path": [ + "N/A", + "Item 1.01 Entry into a Material Definitive Agreement.", + "Warrant Dividend Distribution" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s13", + "table": null, + "text": "Warrant Dividend Distribution" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b21", + "block_sequence": 21, + "block_sha256": "6e8285d5482c559b2f86334d5f3d282e48d44e46f3337df45538768387c15b5a", + "block_type": "paragraph", + "char_count": 4716, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", + "block_sequence": 21, + "char_end": 4716, + "char_start": 0, + "fragment_sha256": "c9d309b3187b1ef066482e4452fcee7638b2be33ecdfd15279a25030e49cd14e", + "heading_path": [ + "N/A", + "Item 1.01 Entry into a Material Definitive Agreement.", + "Warrant Dividend Distribution" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s13", + "table": null, + "text": "On November 6, 2025, Opendoor Technologies Inc. (the \u201cCompany\u201d), announced that the Board of Directors of the Company declared a distribution (the \u201cWarrant Distribution\u201d) to the holders of record of the Company\u2019s common stock, par value $0.0001 per share (the \u201cCommon Stock\u201d), in the form of warrants to purchase shares of Common Stock (the \u201cWarrants\u201d). The Warrants were issued on the terms and conditions described in the Warrant Agreement (as defined below and attached as an exhibit hereto) and were distributed on November 21, 2025, to the record holders of the Common Stock as of the close of business on November 18, 2025 (the \u201cRecord Date\u201d). Pursuant to the terms of the Warrant Agreement, dated as of November 21, 2025, between the Company and Equiniti Trust Company, LLC, as Warrant Agent (the \u201cWarrant Agreement\u201d), each holder of record of Common Stock as of the Record Date received three (3) series of Warrants\u2e3aSeries K, Series A, and Series Z\u2e3aone (1) Warrant of each series for every thirty (30) shares of Common Stock, rounded down to the nearest whole number. The scheduled expiration date of each series of the Warrants is November 20, 2026, which may be automatically accelerated as specified in the Warrant Agreement (and the Company may elect a later alternate expiration date) for a particular series of the Warrants if, within any period of thirty (30) consecutive trading days after the Distribution Date, there are at least twenty (20) trading days (whether or not consecutive) on which the daily volume\u2011weighted average price of the Common Stock exceeds the applicable early expiration trigger price for such series of the Warrants. The early expiration trigger price for a series of the Warrants is initially equal to 120% of the exercise price of such series of the Warrants, subject to adjustment in accordance with the Warrant Agreement. The Warrants have an exercise price of $9.00 per Series K Warrant, $13.00 per Series A Warrant and $17.00 per Series Z Warrant. The Warrants are initially exercisable only by paying the exercise price in cash, subject to the Company\u2019s ability to change the exercise method to net exercise as provided in the Warrant Agreement. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to certain anti-dilution adjustments, including for (i) stock dividends, splits, subdivisions, reclassifications and combinations, (ii) rights issues, (iii) other distributions and spin-offs, (iv) cash dividends or distributions, and (v) shareholder rights plans, in each case as set forth in the Warrant Agreement. The Warrants are expected to commence trading on Nasdaq under ticker symbols OPENW, OPENL, and OPENZ for the Series K Warrants, Series A Warrants and Series Z Warrants, respectively, on November 24, 2025. In lieu of an adjustment to the conversion rate, holders of the Company\u2019s 7.000% Convertible Senior Notes due 2030 (the \u201c2030 Convertible Notes\u201d) also received, at the same time and on the same terms as holders of Common Stock, without having to convert such holder\u2019s 2030 Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the 2030 Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of 2030 Convertible Notes held by such holder on the Record Date. The conversion rate for the Company\u2019s 0.25% Convertible Senior Notes due 2026 was adjusted in accordance with the terms of the governing indenture for such notes. The foregoing description of the Warrants and the Warrant Agreement is only a summary and is qualified in its entirety by reference to the complete description of the terms of the Warrants set forth in the Warrant Agreement (including the Forms of Warrants attached thereto), which is filed as Exhibit 4.1 to this Form 8-K. In connection with the Warrant Distribution, the Company filed a prospectus supplement pursuant to rule 424(b) under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), dated November 21, 2025, registering up to 99,295,146 shares of Common Stock issuable upon the exercise of the Warrants. The prospectus supplement forms a part of the Company\u2019s existing shelf registration statement on Form S-3 (No 333-279080), which was originally filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on May 2, 2024 (the \u201cRegistration Statement\u201d). A copy of the legal opinion of Latham & Watkins LLP relating to the validity of these shares of Common Stock is filed as Exhibit 5.1 to this Current Report on Form 8-K and is filed with reference to, and is hereby incorporated by reference into, the Registration Statement." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b22", + "block_sequence": 22, + "block_sha256": "067727d53a58ec07d55d565c20d24f40e9b39b84ebd5ddc395aab8c628a5a864", + "block_type": "heading", + "char_count": 35, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", + "block_sequence": 22, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "ef604a2db985aa9899cc4944708f4dfcc633b5cb42464b1cb005d03120ed604f", + "heading_path": [ + "N/A", + "Item 7.01 Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s14", + "table": null, + "text": "Item 7.01 Regulation FD Disclosure." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b23", + "block_sequence": 23, + "block_sha256": "729a1613cfa491b9b67454b96e8408f70c2c42bb3d4e0986b070aff9ce56432e", + "block_type": "paragraph", + "char_count": 652, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", + "block_sequence": 23, + "char_end": 652, + "char_start": 0, + "fragment_sha256": "da062ea5c5c2987e5167174ee5e0c0d8f3482613cbd3e42614a2c6de95f4ebf3", + "heading_path": [ + "N/A", + "Item 7.01 Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s14", + "table": null, + "text": "On November 21, 2025, the Company issued a press release announcing the Warrant Distribution, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K. 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The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a security for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. 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All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Warrant Distribution, including: the Company\u2019s expectations regarding the Warrant Distribution; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; and the price of the Warrants and the existence of a market for the Warrants. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in the Company\u2019s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company\u2019s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b17", "text": "| | | | | |\n| --- | --- | --- | --- | --- |\n| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |\n| Common stock, $0.0001 par value per share | | OPEN | | The Nasdaq Stock Market LLC |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b18"], "char_count": 517, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d1ab1f0e65a97a1333e70f74d30be16b71c9b9a974d8b346a5adbc5e065995ec", "derivation_id": "eb288839daf947604df3ee1b0da3e4006a858a5ade044f8259511d686080be51", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["N/A"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "block_sequence": 18, "char_end": 517, "char_start": 0, "fragment_sha256": "cc3b94f5620d31cb461419e1bb0712015a553b78b6157f7fc1b112d3ae7b502d", "heading_path": ["N/A"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s11", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": null, "text": "Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b21"], "char_count": 3888, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4e3a6b42ee619b562343f1321ac58a49504b546d00cf45a54b696f4a5341f1c7", "derivation_id": "eb288839daf947604df3ee1b0da3e4006a858a5ade044f8259511d686080be51", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 1.01 Entry into a Material Definitive Agreement.", "Warrant Dividend Distribution"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "block_sequence": 21, "char_end": 3888, "char_start": 0, "fragment_sha256": "c9d309b3187b1ef066482e4452fcee7638b2be33ecdfd15279a25030e49cd14e", "heading_path": ["N/A", "Item 1.01 Entry into a Material Definitive Agreement.", "Warrant Dividend Distribution"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s13", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": null, "text": "On November 6, 2025, Opendoor Technologies Inc. (the “Company”), announced that the Board of Directors of the Company declared a distribution (the “Warrant Distribution”) to the holders of record of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), in the form of warrants to purchase shares of Common Stock (the “Warrants”). The Warrants were issued on the terms and conditions described in the Warrant Agreement (as defined below and attached as an exhibit hereto) and were distributed on November 21, 2025, to the record holders of the Common Stock as of the close of business on November 18, 2025 (the “Record Date”). Pursuant to the terms of the Warrant Agreement, dated as of November 21, 2025, between the Company and Equiniti Trust Company, LLC, as Warrant Agent (the “Warrant Agreement”), each holder of record of Common Stock as of the Record Date received three (3) series of Warrants⸺Series K, Series A, and Series Z⸺one (1) Warrant of each series for every thirty (30) shares of Common Stock, rounded down to the nearest whole number. The scheduled expiration date of each series of the Warrants is November 20, 2026, which may be automatically accelerated as specified in the Warrant Agreement (and the Company may elect a later alternate expiration date) for a particular series of the Warrants if, within any period of thirty (30) consecutive trading days after the Distribution Date, there are at least twenty (20) trading days (whether or not consecutive) on which the daily volume‑weighted average price of the Common Stock exceeds the applicable early expiration trigger price for such series of the Warrants. The early expiration trigger price for a series of the Warrants is initially equal to 120% of the exercise price of such series of the Warrants, subject to adjustment in accordance with the Warrant Agreement. The Warrants have an exercise price of $9.00 per Series K Warrant, $13.00 per Series A Warrant and $17.00 per Series Z Warrant. The Warrants are initially exercisable only by paying the exercise price in cash, subject to the Company’s ability to change the exercise method to net exercise as provided in the Warrant Agreement. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to certain anti-dilution adjustments, including for (i) stock dividends, splits, subdivisions, reclassifications and combinations, (ii) rights issues, (iii) other distributions and spin-offs, (iv) cash dividends or distributions, and (v) shareholder rights plans, in each case as set forth in the Warrant Agreement. The Warrants are expected to commence trading on Nasdaq under ticker symbols OPENW, OPENL, and OPENZ for the Series K Warrants, Series A Warrants and Series Z Warrants, respectively, on November 24, 2025. In lieu of an adjustment to the conversion rate, holders of the Company’s 7.000% Convertible Senior Notes due 2030 (the “2030 Convertible Notes”) also received, at the same time and on the same terms as holders of Common Stock, without having to convert such holder’s 2030 Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the 2030 Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of 2030 Convertible Notes held by such holder on the Record Date. The conversion rate for the Company’s 0.25% Convertible Senior Notes due 2026 was adjusted in accordance with the terms of the governing indenture for such notes. The foregoing description of the Warrants and the Warrant Agreement is only a summary and is qualified in its entirety by reference to the complete description of the terms of the Warrants set forth in the Warrant Agreement (including the Forms of Warrants attached thereto), which is filed as Exhibit 4.1 to this Form 8-K."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b21"], "char_count": 827, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "14a1f0e637edd122cdc1a51be1c04ab19fbddfeac7ab2664a3b97458e9087f63", "derivation_id": "eb288839daf947604df3ee1b0da3e4006a858a5ade044f8259511d686080be51", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 1.01 Entry into a Material Definitive Agreement.", "Warrant Dividend Distribution"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "block_sequence": 21, "char_end": 4715, "char_start": 3888, "fragment_sha256": "c9d309b3187b1ef066482e4452fcee7638b2be33ecdfd15279a25030e49cd14e", "heading_path": ["N/A", "Item 1.01 Entry into a Material Definitive Agreement.", "Warrant Dividend Distribution"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s13", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": null, "text": "In connection with the Warrant Distribution, the Company filed a prospectus supplement pursuant to rule 424(b) under the Securities Act of 1933, as amended (the “Securities Act”), dated November 21, 2025, registering up to 99,295,146 shares of Common Stock issuable upon the exercise of the Warrants. The prospectus supplement forms a part of the Company’s existing shelf registration statement on Form S-3 (No 333-279080), which was originally filed with the Securities and Exchange Commission (the “SEC”) on May 2, 2024 (the “Registration Statement”). A copy of the legal opinion of Latham & Watkins LLP relating to the validity of these shares of Common Stock is filed as Exhibit 5.1 to this Current Report on Form 8-K and is filed with reference to, and is hereby incorporated by reference into, the Registration Statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b23"], "char_count": 652, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "729a1613cfa491b9b67454b96e8408f70c2c42bb3d4e0986b070aff9ce56432e", "derivation_id": "eb288839daf947604df3ee1b0da3e4006a858a5ade044f8259511d686080be51", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure."], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "block_sequence": 23, "char_end": 652, "char_start": 0, "fragment_sha256": "da062ea5c5c2987e5167174ee5e0c0d8f3482613cbd3e42614a2c6de95f4ebf3", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s14", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": null, "text": "On November 21, 2025, the Company issued a press release announcing the Warrant Distribution, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished in Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b25"], "char_count": 803, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f56156f9ae3171be176718c27ea97d0409d88a0069058858d8da24ee2a7f29ef", "derivation_id": "eb288839daf947604df3ee1b0da3e4006a858a5ade044f8259511d686080be51", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure.", "No Offer or Solicitation"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "block_sequence": 25, "char_end": 803, "char_start": 0, "fragment_sha256": "392bb927d02f82484cb6f3119c107f44a4f9cf6282114ec6ccfef2914c928ef7", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure.", "No Offer or Solicitation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": null, "text": "This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a security for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and prospectus supplement describing the terms of the Warrants has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#b27"], "char_count": 2547, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "19576b35f43ec81098b869c7e4c67903a99c8575ba3262b959a9bf6ea494587a", "derivation_id": "eb288839daf947604df3ee1b0da3e4006a858a5ade044f8259511d686080be51", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure.", "No Offer or Solicitation", "Forward Looking Statements"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "block_sequence": 27, "char_end": 2547, "char_start": 0, "fragment_sha256": "3c06c75e947cbecad8983b5928c6d3b24790ab09207b1aec607d1003cbabde23", "heading_path": ["N/A", "Item 7.01 Regulation FD Disclosure.", "No Offer or Solicitation", "Forward Looking Statements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_8k.htm#s16", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_8k.htm", "table_id": null, "text": "This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Warrant Distribution, including: the Company’s expectations regarding the Warrant Distribution; the anticipated and expected use of proceeds from any proceeds received from the exercise of Warrants; the acceptance to trading of the warrants on the Nasdaq Stock Market; and the price of the Warrants and the existence of a market for the Warrants. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company’s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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Agent | 47\nSection 8.10 | Limited Responsibility of Calculation Agent and Independent Advisor | 47\nSection 8.11 | Entire Agreement | 47" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b21", + "block_sequence": 21, + "block_sha256": "860586c6c087b23306012e75c3b8fedad90a1dc81bed275891bb76e279237297", + "block_type": "paragraph", + "char_count": 1495, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 21, + "char_end": 1495, + "char_start": 0, + "fragment_sha256": "7b5062d77fccd63432d92e1596640c972617e6daac7bb1f9ed85c1781884209d", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s15", + "table": null, + "text": "EXHIBIT A Form of Warrant WARRANT AGREEMENT, dated as of November 21, 2025 (this \u201cAgreement\u201d), between Opendoor Technologies, Inc., a corporation incorporated under the laws of the State of Delaware (the \u201cCompany\u201d), and Equiniti Trust Company, LLC, New York limited liability trust company, as Warrant Agent (the \u201cWarrant Agent\u201d) (each a \u201cParty\u201d and collectively, the \u201cParties\u201d). The Board of Directors (as defined below) has declared a dividend distribution (the \u201cWarrant Distribution\u201d) to the holders of record of the Company\u2019s common stock, par value $0.0001 per share (the \u201cCommon Stock\u201d), and the Other Eligible Recipients (as defined below), as of 5:00 p.m., New York City time, on November 21, 2025 (such date and time, the \u201cDistribution Record Date\u201d), in the form of warrants to purchase shares of Common Stock. The Company desires to issue the warrants on the terms and conditions described herein (the \u201cWarrants\u201d) in satisfaction of the Warrant Distribution. The Warrants will be issued on or about November 21, 2025 (the date of the actual distribution, the \u201cIssue Date\u201d). The Company desires the Warrant Agent to act on behalf of the Company in connection with the issuance, registration, transfer, exchange, exercise, redemption and cancellation of the Warrants as provided herein, and the Warrant Agent is willing to so act. Each Party hereto agrees for the benefit of the other Party and for the equal and ratable benefit of the registered holders of the Warrants (the \u201cHolders\u201d):" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b22", + "block_sequence": 22, + "block_sha256": "d4735e3a265e16eee03f59718b9b5d03019c07d8b6c51f90da3a666eec13ab35", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 22, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "ef6975169ebe8e80df123a9d9e6ba2a4c95f5ba03a71059c394f1f4fd9668660", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s15", + "table": null, + "text": "2" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b23", + "block_sequence": 23, + "block_sha256": "a6907b992801d84112b6ed2fca652c5990484b99a074cf483571e96e28877e3f", + "block_type": "heading", + "char_count": 9, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 23, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "05d34cc1fab73148b3294c553c9e9cd46f39cf6d15ec676262c182aa94a887f1", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s16", + "table": null, + "text": "ARTICLE I" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b24", + "block_sequence": 24, + "block_sha256": "4b39b2329c698b4987e15023a3bbd523e95d4058dbbeb479d074f26ff0ac694f", + "block_type": "heading", + "char_count": 11, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 24, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "c1091d57ec25669e9c07e2f68c937a41eff19f0033b823bde3353e05c2cfc880", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "DEFINITIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", + "table": null, + "text": "DEFINITIONS" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b25", + "block_sequence": 25, + "block_sha256": "991286fc586a5421952bebc4a432d5de9a04bc3a5e99cc42b7e10dd7f0160f75", + "block_type": "paragraph", + "char_count": 19054, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 25, + "char_end": 19054, + "char_start": 0, + "fragment_sha256": "448ba70defb14307fb83aa18f60196d941aa52b739aebb15633d52463c962326", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "DEFINITIONS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", + "table": null, + "text": "Section 1.01 Definitions. \u201cAffiliate\u201d of any Person means any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person. For purposes hereof, \u201ccontrol\u201d of a Person means the power, direct or indirect, to direct or cause the direction or actions of the management and policies of such Person whether by contract or otherwise. \u201cBoard of Directors\u201d means the Board of Directors of the Company or any committee thereof duly authorized to act on behalf of such Board of Directors. \u201cBusiness Day\u201d means day that is not (i) a Saturday, (ii) a Sunday, or (iii) a day on which banking institutions are allowed by law, regulation or executive order to be closed in the State of New York. \u201cCalculation Agent\u201d means Conv-Ex Advisors Limited, or such successor Person as may be appointed by the Company to serve as calculation agent for the Warrants. \u201cCapital Stock\u201d means (i) with respect to any Person that is a corporation or company, any and all shares, interests, participations or other equivalents (however designated) of capital or capital stock of such Person and (ii) with respect to any Person that is not a corporation or company, any and all partnership or other equity interests of such Person. \u201cClose of Business\u201d means 5:00 p.m., New York City time. \u201cCommon Equity\u201d of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person. \u201cConvertible Notes\u201d means the Company\u2019s 7.000% Convertible Senior Notes due 2030. \u201cDaily VWAP\u201d means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed under the heading \u201cBloomberg VWAP\u201d on Bloomberg page \u201cOPEN AQR\u201d (or, if such page is not available, its equivalent successor page) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day (or, if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such VWAP Trading Day, determined, using a volume-weighted average price method, by an Independent Advisor). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of the regular trading session. The Warrant Agent will not have any duty to determine the Daily VWAP. \u201cDefinitive Warrant\u201d means a Warrant Certificate in definitive form that is not deposited with the Depositary or with the Warrant Agent as the Warrant Custodian. \u201cDepositary\u201d means The Depository Trust Company, its nominees, and their respective successors. \u201cEarly Expiration Price Condition\u201d for a Series of Warrants means (i) the occurrence of the first 30 consecutive VWAP Trading Day period that includes 20 Qualifying Trading Days (whether or not consecutive) for such Series of Warrants, the first of which 20 Qualifying Trading Days must fall on or after the first VWAP Trading Day immediately following the Issue Date or (ii) in the event of any Alternate Expiration Date Annulment for such Series of Warrants, the occurrence of the first 30 consecutive VWAP Trading Day period that includes 20 Qualifying VWAP Trading Days (whether or not consecutive), the first of which 20 Qualifying Trading Days must fall after the Alternate Expiration Date for such Series of Warrants in respect of which such Alternate Expiration Date Annulment occurred. \u201cEarly Expiration Price Condition Date\u201d for a Series of Warrants means the last of the 20 Qualifying Trading Days (whether or not consecutive) to occur in the Reference Period for such Series of Warrants. \u201cEarly Expiration Trigger Price\u201d means (i) for the Series K Warrants, the Series K Early Expiration Trigger Price, (ii) for the Series A Warrants, the Series A Early Expiration Trigger Price and (iii) for the Series Z Warrants, the Series Z Early Expiration Trigger Price. \u201cEx-Date\u201d means the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of shares of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market. For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Common Stock under a separate ticker symbol or CUSIP number will not be considered \u201cregular way\u201d for this purpose. \u201cExchange\u201d means the Nasdaq Global Select Market or, if at the relevant time Nasdaq Global Select Market is not the principal U.S. national or regional securities exchange on which the Common Stock is listed, the principal U.S. national or regional securities exchange on which the Common Stock is listed, or if at the relevant time the Common Stock is not listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then admitted for trading. \u201cExchange Act\u201d means the U.S. Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, as they may be amended from time to time. \u201cFair Market Value\u201d means, with respect to any security or other property, the fair market value of such security or other property as determined by the Board of Directors, acting in good faith. \u201cIndenture\u201d means the indenture for the Convertible Notes dated as of May 16, 2025 between the Company and U.S. Bank Trust Company, National Association, as trustee. \u201cIndependent Advisor\u201d means a nationally recognized independent investment banking firm or financial advisor with appropriate expertise (which may include the person acting as the Calculation Agent or any affiliate thereof) retained by the Company at its own expense. \u201cLast Reported Sale Price\u201d of the Common Stock for any day means the closing sale price per share (or, if no closing sale price is reported, the average of the last bid price and the last ask price per share or, if more than one in either case, the average of the average last bid prices and the average last ask prices per share) of Common Stock on such day as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then admitted for trading. If the Common Stock is not listed on a U.S. national or regional securities exchange or admitted for trading on another market on such day, then the Last Reported Sale Price will be the last quoted bid price per share of Common Stock on such day in the over-the-counter market as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted on such day, then the Last Reported Sale Price will be the average of the mid-point of the last bid price and the last ask price per share of Common Stock on such day from each of at least three nationally recognized independent investment banking firms selected by an Independent Advisor. The Warrant Agent will not have any duty to determine the Last Reported Sale Price. \u201cMarket Disruption Event\u201d means, with respect to any date, (A) the failure by the principal U.S. national or regional securities exchange on which the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then admitted for trading, to open for trading during its regular trading session (disregarding any after-hours trading) on such date; or (B) the occurrence or existence, for more than one half hour period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date. \u201cNet Exercise Period\u201d means, with respect to any Series of Warrants, any period beginning on, the first Business Day on which the Company\u2019s election to change the exercise method for such Series of Warrants to net exercise is deemed effective in accordance with Section 3.08(a) and ending on, the Business Day immediately preceding the first Business Day on which the Company\u2019s election to change the exercise method for such Series of Warrants to cash exercise is deemed effective in accordance with Section 3.08(a). \u201cNote Conversion Amount\u201d means, in respect of the Convertible Notes, a number of shares of Common Stock equal to the product of (i) the Conversion Rate (as defined in the Indenture) in effect on the Distribution Record Date; and (ii) the aggregate principal amount (expressed in thousands) of Convertible Notes held by the holders of Convertible Notes on such date. \u201cOfficer\u201d means, with respect to the Company, the Chief Executive Officer, the President, the Chief Financial Officer, or the Chief Legal Officer and Corporate Secretary of the Company or, with respect to any other Person, the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer, or the Secretary or an Assistant Secretary of such Person. \u201cOther Eligible Recipient\u201d means a holder of record of the Convertible Notes as of the Distribution Record Date. \u201cPerson\u201d means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof, or any other entity. \u201cQualifying Trading Day\u201d for a Series of Warrants means any VWAP Trading Day on which the Daily VWAP is at least equal to the Early Expiration Trigger Price for such Series of Warrants in effect on such VWAP Trading Day. \u201cRecord Date\u201d means, for the purposes of Sections 4.01 and 4.02, with respect to any dividend, distribution or other transaction or event in which the holders of the Common Stock have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of the Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). \u201cReference Period\u201d for a Series of Warrants means the 30 consecutive VWAP Trading Day period referred to in clause (i) or clause (ii) of the definition of Early Expiration Price Condition for such Series of Warrants. \u201cScheduled Trading Day\u201d means a day that is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange on which the Common Stock is listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal market on which the Common Stock is admitted for trading. If the Common Stock is not so listed or admitted for trading, \u201cScheduled Trading Day\u201d means a Business Day. \u201cSEC\u201d means the U.S. Securities and Exchange Commission. \u201cSecurities Act\u201d means the U.S. Securities Act of 1933 and the rules and regulations promulgated thereunder, as they may be amended from time to time. \u201cSeries\u201d means a Series of Warrants designated pursuant to this Agreement. \u201cSeries A Early Expiration Trigger Price\u201d is initially $15.6000, subject to adjustment concurrently with any adjustment or amendment to the Series A Warrant Exercise Rate or amendment to the Series A Warrant Exercise Price in each case in accordance with Article IV. In any adjustment or amendment to the Series A Warrant Exercise Rate, the adjusted Series A Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series A Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series A Warrant Exercise Rate in effect immediately prior to such adjustment or amendment (as applicable) and the denominator of which is the Series A Warrant Exercise Rate as so adjusted or amended (as applicable), all as determined by the Calculation Agent. In any amendment to the Series A Warrant Exercise Price, the adjusted Series A Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series A Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series A Warrant Exercise Price as so amended and the denominator of which is the Series A Warrant Exercise Price in effect immediately prior to such amendment, all as determined by the Calculation Agent. \u201cSeries A Warrant Exercise Rate\u201d means initially one (1) share of Common Stock, subject to adjustment or amendment from time to time in accordance with Article IV. \u201cSeries A Warrants\u201d means the Warrants designated as Series A Warrants. \u201cSeries K Early Expiration Trigger Price\u201d is initially $10.8000, subject to adjustment concurrently with any adjustment or amendment to the Series K Warrant Exercise Rate or amendment to the Series K Warrant Exercise Price in each case in accordance with Article IV. In any adjustment or amendment to the Series K Warrant Exercise Rate, the adjusted Series K Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series K Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series K Warrant Exercise Rate in effect immediately prior to such adjustment or amendment (as applicable) and the denominator of which is the Series K Warrant Exercise Rate as so adjusted or amended (as applicable), all as determined by the Calculation Agent. In any amendment to the Series K Warrant Exercise Price, the adjusted Series K Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series K Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series K Warrant Exercise Price as so amended and the denominator of which is the Series K Warrant Exercise Price in effect immediately prior to such amendment, all as determined by the Calculation Agent. \u201cSeries K Warrant Exercise Rate\u201d means initially one (1) share of Common Stock, subject to adjustment or amendment from time to time in accordance with Article IV. \u201cSeries K Warrants\u201d means the Warrants designated as Series K Warrants. \u201cSeries Z Early Expiration Trigger Price\u201d is initially $20.4000, subject to adjustment concurrently with any adjustment or amendment to the Series Z Warrant Exercise Rate or amendment to the Series Z Warrant Exercise Price in each case in accordance with Article IV. In any adjustment or amendment to the Series Z Warrant Exercise Rate, the adjusted Series Z Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series Z Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series Z Warrant Exercise Rate in effect immediately prior to such adjustment or amendment (as applicable) and the denominator of which is the Series Z Warrant Exercise Rate as so adjusted or amended (as applicable), all as determined by the Calculation Agent. In any amendment to the Series Z Warrant Exercise Price, the adjusted Series Z Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series Z Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series Z Warrant Exercise Price as so amended and the denominator of which is the Series Z Warrant Exercise Price in effect immediately prior to such amendment, all as determined by the Calculation Agent. \u201cSeries Z Warrant Exercise Rate\u201d means initially one (1) share of Common Stock, subject to adjustment or amendment from time to time in accordance with Article IV. \u201cSeries Z Warrants\u201d means the Warrants designated as Series Z Warrants. \u201cTrading Day\u201d means any day on which (A) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then admitted for trading; and (B) a Last Reported Sale Price for the Common Stock (or closing sale price for such other security) is available on such securities exchange or market. If the Common Stock is not so listed or admitted for trading, then \u201cTrading Day\u201d means a Business Day. \u201cVWAP Trading Day\u201d means a day on which (A) there is no Market Disruption Event; and (B) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then admitted for trading. If the Common Stock is not so listed or admitted for trading, then \u201cVWAP Trading Day\u201d means a Business Day. \u201cWarrant Certificate\u201d means any Global Warrant or Definitive Warrant issued by the Company under this Agreement. \u201cWarrant Custodian\u201d means the custodian with respect to a Global Warrant (as appointed by the Depositary) or any successor Person thereto. \u201cWarrant Exercise Price\u201d means, (i) for the Series K Warrants, the Series K Warrant Exercise Price, (ii) for the Series A Warrants, the Series A Warrant Exercise Price and (iii) for the Series Z Warrants, the Series Z Warrant Exercise Price. \u201cWarrant Exercise Rate\u201d means, (i) for the Series K Warrants, the Series K Warrant Exercise Rate, (ii) for the Series A Warrants, the Series A Warrant Exercise Rate and (iii) for the Series Z Warrants, the Series Z Warrant Exercise Rate. \u201cWarrant Shares\u201d means the shares of Common Stock issuable on exercise of any Warrants. \u201cWhole Number\u201d means any non-negative number, including zero, that is not a fraction or decimal. 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"table": null, + "text": "Section 1.03 Rules of Construction. Unless the text or context otherwise requires: (a) a defined term has the meaning assigned to it herein; (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with U.S. generally accepted accounting principles as in effect from time to time; (c) \u201cincluding\u201d means including, without limitation; (d) words in the singular include the plural and words in the plural include the singular; (e) references to any statute, rule, standard, regulation or other law include a reference to (x) the corresponding rules and regulations and (y) each of them as amended, modified, supplemented, consolidated, replaced or rewritten from time to time; and (f) headings to Articles, Sections and Sub-Sections in this Agreement are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b36", + "block_sequence": 36, + "block_sha256": "de576828d838f5b7543c6a2a5a4b6d420cf5806797e3f97df8b0ed7757d97aad", + "block_type": "heading", + "char_count": 10, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 36, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "31e6493c8697100cdf46be0cfe9b7898abeae3bc0964fb1cadf68e239d0592df", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ARTICLE II" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s18", + "table": null, + "text": "ARTICLE II" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b37", + "block_sequence": 37, + "block_sha256": "e965ec1a087418a3f015c2b2086ee9138a6b14a839d694424714b2c76851489f", + "block_type": "heading", + "char_count": 37, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 37, + "char_end": 37, + "char_start": 0, + "fragment_sha256": "bb52a27bf1f465d1ee03ecc0d26b435aae098a9e05698a4ea98de5eaaba007d1", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "FORM OF WARRANT; BENEFICIAL INTERESTS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", + "table": null, + "text": "FORM OF WARRANT; BENEFICIAL INTERESTS" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38", + "block_sequence": 38, + "block_sha256": "e96e2bd5ffb474d652295b3b56c92e7965cd2edc8024899842180477ec2e2770", + "block_type": "paragraph", + "char_count": 21127, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 38, + "char_end": 21127, + "char_start": 0, + "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "FORM OF WARRANT; BENEFICIAL INTERESTS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", + "table": null, + "text": "Section 2.01 Issuance and Registration. (a) Warrants. (i) The Warrants shall initially be issued as follows (the \u201cInitial Warrants\u201d) to: (1) to the registered holders of shares of Common Stock as of the Distribution Record Date, as reflected in the Company\u2019s direct registration system for the Common Stock, (i) one Series K Warrant for every thirty (30) shares of Common Stock held by such registered holder as of the Distribution Record Date, (ii) one Series A Warrant for every thirty (30) shares of Common Stock held by such registered holder as of the Distribution Record Date and (iii) one Series Z Warrant for every thirty (30) shares of Common Stock held by such registered holder as of the Distribution Record Date; (2) to the registered holders of Convertible Notes as of the Distribution Record Date as reflected in the Register (as defined in the Indenture), pursuant to Section 5.05(B) of the Indenture, without such holders having to convert their Convertible Notes, (i) one Series K Warrant for every thirty (30) shares of Common Stock included in the Note Conversion Amount for the aggregate principal amount of Convertible Notes held by such holders on the Distribution Record Date, (ii) one Series A Warrant for every thirty (30) shares of Common Stock included in the Note Conversion Amount for the aggregate principal amount of Convertible Notes held by such holders on the Distribution Record Date, and (iii) one Series Z Warrant for every thirty (30) shares of Common Stock included in the Note Conversion Amount for the aggregate principal amount of Convertible Notes held by such holders on the Distribution Record Date. (ii) The Warrant Agent shall allocate the Warrants to, and register the Warrants in the names of, such registered holders in accordance with the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures pursuant to an allocation schedule approved by the Company, and in the case of the registered holders of Convertible Notes, in cooperation with the trustee under the Indenture. Any Warrants registered through the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures shall be issued in uncertificated form and shall not be represented by Warrant Certificates. (iii) Notwithstanding the foregoing, some or all of the Warrants may, at initial issuance or any time thereafter, be represented by one or more permanent Global Warrants, in definitive, fully registered form with the global securities legend set forth in Exhibit A hereto (each, a \u201cGlobal Warrant\u201d). Any such Global Warrant shall be deposited on behalf of the relevant Holders with the Warrant Agent, as custodian for the Depositary (or with such other custodian as the Depositary may direct), registered in the name of the Depositary or a nominee of the Depositary, and duly executed by the Company and countersigned by the Warrant Agent as hereinafter provided. (iv) The Company may, subject to the provisions of this Agreement, issue additional Warrants of one or more Series with the same terms as the Initial Warrants for such Series, which additional Warrants will, subject to the foregoing, be considered to be part of the same Series of, and rank equally and ratably with all other, Warrants of such Series issued under this Agreement; provided, however, that if any such additional Warrants of such Series are not fungible, for federal securities laws purposes, with other Warrants of such Series issued under this Agreement and assigned a CUSIP number, then such additional Warrants of such Series will be identified by a separate CUSIP number or by no CUSIP number. All Warrants issued pursuant to this Agreement will be equally and ratably entitled to the benefits of this Agreement, without preference or priority. (b) Definitive Warrants. Holders of Warrants or holders of beneficial interests in any Global Warrant will not be entitled to physical delivery of Definitive Warrants (except as provided in Section 2.05). (c) Procedures for Global Warrants. This Section 2.01(c) shall apply only to any Global Warrant deposited with or on behalf of the Depositary. (i) If any Warrants are to be represented by a Global Warrant, then the Company shall execute and the Warrant Agent shall, in accordance with Section 2.02, countersign and deliver initially one or more Global Warrants that (a) shall be registered in the name of the Depositary for such Global Warrant or Global Warrants or of the nominee of the Depositary and (b) shall be delivered by the Warrant Agent to the Depositary or pursuant to the Depositary\u2019s instructions or held by the Warrant Agent as custodian for the Depositary. (ii) Members of, or participants in, the Depositary (\u201cAgent Members\u201d) shall have no rights under this Agreement with respect to any Global Warrant held on their behalf by the Depositary or by the Warrant Agent as the custodian of the Depositary or under such Global Warrant, and the Depositary may be treated by the Company, the Warrant Agent and any agent of the Company or the Warrant Agent as the absolute owner of such Global Warrant for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Warrant Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary, or impair, as between the Depositary and its Agent Members, the operation of customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Warrant. (d) No Fractional Warrants. The Company shall not issue fractional Warrants or distribute Warrant Certificates which evidence fractional Warrants. If any fractional Warrant would otherwise be required to be issued or distributed pursuant to the Warrant Distribution, then the Company or the Warrant Agent, as applicable, to the extent reasonably practicable, shall first aggregate the total number of Warrants to be issued to the relevant holder of Common Stock or Other Eligible Recipient and then round down the total number to the nearest Whole Number and no cash or other adjustment will be made in lieu of the fraction of a Warrant so rounded down. Section 2.02 Warrant Certificates. If any Warrant Certificates are issued hereunder, then at least one Officer shall sign such Warrant Certificates for the Company by manual, facsimile or portable document format (\u201cPDF\u201d) signature or by means of other electronic transmission. (a) If an Officer whose signature is on a Warrant Certificate no longer holds that office at the time the Warrant Agent countersigns the Warrant Certificate, the Warrants evidenced by such Warrant Certificate shall be valid, nevertheless. (b) At any time and from time to time after the execution of this Agreement, the Warrant Agent shall, upon receipt of a written order of the Company signed by an Officer of the Company, countersign, either by manual, facsimile, PDF signature or by means of other electronic transmission, and issue a Warrant Certificate evidencing the number of Warrants specified in such order. Such order shall specify the number of Warrants to be evidenced on the Warrant Certificate to be countersigned, the date on which such Warrant Certificate is to be countersigned, whether such Warrant Certificate is to be a Global Warrant or a Definitive Warrant, and the number of Warrants then authorized. Each Warrant shall be dated as of the date of its countersignature. (c) The Warrants (whether or not evidenced by a Warrant Certificate) shall not be valid until registered on the Warrant Register. Section 2.03 Warrant Register. The Warrants shall be issued in registered form only. Upon the receipt of all relevant information from the Company or its agents, the Warrant Agent shall keep a register (the \u201cWarrant Register\u201d) of the Warrants (and Warrant Certificates, if applicable) and of their transfer and exchange. The Warrant Register shall show the names and addresses of the respective Holders and the date and number of Warrants owned by such Holders (as evidenced on the face of each of the Warrant Certificates, if applicable). The Holder of any Global Warrant will be the Depositary or a nominee in whose name the Global Warrant is registered. The Company and the Warrant Agent may deem and treat the Person in whose name the Warrants are registered in the Warrant Register as the absolute owner of such Warrants for all purposes and regardless of any notice to the contrary. Section 2.04 Transfer and Exchange. (a) Transfer and Exchange of Warrants. (i) The transfer and exchange of Warrants or beneficial interests therein shall be effected through the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures and, in the case of any Global Warrants, the Depositary, in each case in accordance with this Agreement and the procedures of the Warrant Agent and, as applicable, the Depositary therefor. The Company may instruct the Warrant Agent from time to time that Warrants held by a member of the Board of Directors, an Officer of the Company or an Affiliate of the Company are subject to restrictions on transfers or exchanges related to compliance with applicable securities laws, in which case the Warrant Agent shall not permit the transfer or exchange of such Warrants without the consent of the Company. (ii) Except as set forth in Section 2.04(a)(iii), a Global Warrant may only be transferred as a whole, and not in part, and only by (x) the Depositary to a nominee of the Depositary, (y) a nominee of the Depositary to the Depositary or another nominee of the Depositary or (z) the Depositary or any such nominee to a successor Depositary or its nominee. (iii) In the event that a Global Warrant is exchanged and transferred for Definitive Warrants pursuant to Section 2.05, such Warrants may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.04 and such other procedures as may from time to time be adopted by the Company. (iv) The Warrant Agent may register the transfer of any Definitive Warrant upon written request of the Holder delivered to the Warrant Agent and surrender of the Warrant Certificates to be transferred, split up, combined or exchanged, together with the form of assignment and certificate duly executed and properly completed and such other documentation that the Company or the Warrant Agent may reasonably request, at the office of the Warrant Agent designated for such purpose. Any requested transfer of Warrants shall be accompanied by reasonable evidence of authority that may be required by the Warrant Agent of the party making such request, which evidence shall include a signature guarantee from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association. Upon any such transfer, one or more new Definitive Warrants representing an equal aggregate number of Definitive Warrants shall be issued and the transferred certificate shall be canceled. (b) Cancellation or Adjustment of Global Warrant. At such time as all beneficial interests in a Global Warrant have been exchanged for Definitive Warrants, redeemed, repurchased or canceled, such Global Warrant shall be returned to the Depositary for cancellation or retained and canceled by the Warrant Agent. At any time prior to such cancellation, if any beneficial interest in a Global Warrant is exchanged for Definitive Warrants, repurchased or canceled, the number of Warrants represented by such Global Warrant shall be reduced and an adjustment shall be made on the books and records of the Warrant Agent (if it is then the Warrant Custodian for such Global Warrant) with respect to such Global Warrant, by the Warrant Agent, to reflect such reduction. (c) Obligations with Respect to Transfers and Exchanges of Warrants. (i) To permit registrations of transfers and exchanges, the Company shall execute and the Warrant Agent shall countersign, by either manual, facsimile or PDF signature or by means of other electronic transmission, any Global Warrants and Definitive Warrants, if applicable, as required subject to the provisions of Section 2.02 and this Section 2.04. (ii) No service charge shall be made for any registration of transfer or exchange. Any tax, assessments, or similar governmental charge payable in connection with any registration of transfer or exchange shall be paid by the Holder. (iii) The Company may require payment from the Holder of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination or exchange of Warrants. The Warrant Agent shall not have any duty or obligation to take any action under any section of this Agreement or any Warrant that requires the payment of taxes and/or charges unless and until the Warrant Agent is reasonably satisfied that all such payments have been made. (iv) Prior to the due presentation for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the Person in whose name such Warrant is registered as the absolute owner of such Warrant, and neither the Company nor the Warrant Agent shall be affected by notice to the contrary. (v) All Warrants issued upon any transfer or exchange pursuant to the terms of this Agreement shall be valid obligations of the Company, entitled to the same benefits under this Agreement as the Warrants surrendered upon such transfer or exchange. (d) No Obligation of the Warrant Agent. The Warrant Agent shall have no responsibility or obligation to any beneficial owner of a Global Warrant, an Agent Member or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Warrants or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice, or the payment of any amount, under or with respect to such Warrants. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Warrants shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of a Global Warrant). The rights of beneficial owners in any Global Warrant shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Warrant Agent may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. Section 2.05 Definitive Warrants. (a) Subject to Section 2.05(e), beneficial interests in a Global Warrant deposited with the Depositary or with the Warrant Agent as custodian shall be transferred to the beneficial owners thereof in the form of Definitive Warrants in a number equal to the number of Warrants represented by such Global Warrant, in exchange for such Global Warrant, only if such transfer complies with Section 2.04 and (i) the Depositary notifies the Company that it is unwilling or unable to continue as depositary for such Global Warrant or if at any time the Depositary ceases to be a \u201cclearing agency\u201d registered under the Exchange Act and, in each such case, a successor depositary is not appointed by the Company within ninety (90) days of such notice, or (ii) the Company, in its sole discretion, notifies the Warrant Agent in writing that it elects to cause the issuance of Definitive Warrants under this Agreement. In such event, the transfer, exchange or exercise of the Warrants shall be conducted in accordance with the customary procedures of the Warrant Agent. (b) Any Global Warrant that is transferable to the beneficial owners thereof pursuant to this Section 2.05 shall be surrendered by the Depositary to the Warrant Agent, to be so transferred, in whole or from time to time in part, without charge, and the Warrant Agent shall countersign, by either manual, facsimile or PDF signature or by means of other electronic transmission, and deliver to each beneficial owner in the name of such beneficial owner, upon such transfer of each portion of such Global Warrant, Definitive Warrants evidencing a number of Warrants equivalent to such beneficial owner\u2019s beneficial interest in such Global Warrant. The Warrant Agent shall register such transfer in the Warrant Register, and upon such transfer the surrendered Global Warrant shall be canceled by the Warrant Agent. Any such Definitive Warrants shall bear such restrictive legends as the Company may instruct. (c) Subject to the provisions of Section 2.05(b), the registered Holder of a Global Warrant may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that such Holder is entitled to take under this Agreement or the Warrants. (d) In the event of the occurrence of either of the events specified in Section 2.05(a), the Company will promptly make available to the Warrant Agent a reasonable supply of Definitive Warrants in definitive, fully registered form. (e) The Depositary shall notify the Warrant Agent of the names and the amounts in which the Definitive Warrants will be issued. Neither the Company nor the Warrant Agent will be liable or responsible for any names or any amounts provided by the Depositary. (f) Notwithstanding the foregoing, in lieu of issuing a Definitive Warrant to any Person, the Warrant Agent may, upon the Company\u2019s instruction, register Warrants in the name of such Person through the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures. Section 2.06 Replacement Certificates. If a mutilated Warrant Certificate is surrendered to the Warrant Agent or if the Holder of a Warrant Certificate provides proof reasonably satisfactory to the Company and the Warrant Agent that the Warrant Certificate has been lost, destroyed or wrongfully taken, the Company shall issue and the Warrant Agent shall countersign, by either manual, facsimile or PDF signature or by means of other electronic transmission, a replacement Warrant Certificate representing an equivalent number of Warrants, if the reasonable requirements of the Warrant Agent are met and absent notice to the Warrant Agent that such certificates have been acquired by a bona fide purchaser. Such Holder shall furnish an open penalty surety bond sufficient in the judgment of the Company and the Warrant Agent to protect the Company and the Warrant Agent from any loss that either of them may suffer if a Warrant Certificate is replaced. The Warrant Agent may, at its option, issue replacement Warrants for mutilated certificates upon presentation thereof without such indemnity. The Company and the Warrant Agent may charge the Holder for their respective expenses in replacing a Warrant Certificate. Every replacement Warrant Certificate evidences an additional obligation of the Company. Section 2.07 Outstanding Warrants. All Warrants evidenced as outstanding in the Warrant Register shall be deemed to be outstanding for purposes of this Agreement (which, in the case of Warrants represented by Warrant Certificates, shall include all Warrant Certificates authenticated by the Warrant Agent excluding those canceled by it and those delivered to it for cancellation). A Warrant does not cease to be outstanding because an Affiliate of the Company holds the Warrant. A Warrant ceases to be outstanding if the Company holds the Warrant. If a Warrant Certificate is replaced pursuant to Section 2.06, the Warrants evidenced thereby cease to be outstanding unless the Warrant Agent and the Company receive proof satisfactory to them that the replaced Warrant Certificate is held by a protected purchaser (as defined for purposes of the Delaware Uniform Commercial Code). Section 2.08 Cancellation. In the event the Company shall purchase or otherwise acquire Definitive Warrants, the Company may, at its option, deliver the same to the Warrant Agent for cancellation. The Warrant Agent and no one else shall cancel all Warrant Certificates surrendered for transfer, exchange, replacement, exercise or cancellation. The Company may not issue new Warrant Certificates to replace Warrant Certificates to the extent they evidence Warrants which have been exercised or Warrants which the Company has canceled. Section 2.09 CUSIP Numbers. The Company has assigned a \u201cCUSIP\u201d number in connection with the issuance of each Series of Warrants and the Warrant Agent may use such \u201cCUSIP\u201d number in notices as a convenience to the Holders; provided, however, that any such notice shall state that no representation is made as to the correctness of such numbers either as printed on the Warrant Certificates or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Warrant Certificates." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b39", + "block_sequence": 39, + "block_sha256": "4a44dc15364204a80fe80e9039455cc1608281820fe2b24f1e5233ade6af1dd5", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 39, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "85eb9b639d330a019e67b98027a1f567f72d800a533ca434b5d9608f745a2496", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "FORM OF WARRANT; 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(a) Each Series K Warrant shall entitle the Holder thereof to purchase, during the Exercise Period for the Series K Warrants, for each Series K Warrant evidenced thereby, (i) a number of shares of Common Stock equal to the Series K Warrant Exercise Rate in effect immediately prior to the Close of Business on the relevant Exercise Date, subject to Section 3.06, at an exercise price equal to $9.00 per Series K Warrant (subject to amendment from time to time in accordance with Section 4.06, the \u201cSeries K Warrant Exercise Price\u201d) or (ii) if the relevant Exercise Date falls in a Net Exercise Period with respect to the Series K Warrants, a number of shares of Common Stock determined as set forth in Section 3.08 (and notwithstanding anything to the contrary in this Agreement, the Holder will not be required to pay the Series K Warrant Exercise Price in respect of such Series K Warrant). Each Series A Warrant shall entitle the Holder thereof to purchase, during the Exercise Period for the Series A Warrants, for each Series A Warrant evidenced thereby, (i) a number of shares of Common Stock equal to the Series A Warrant Exercise Rate in effect immediately prior to the Close of Business on the relevant Exercise Date, subject to Section 3.06, at an exercise price equal to $13.00 per Series A Warrant (subject to amendment from time to time in accordance with Section 4.06, the \u201cSeries A Warrant Exercise Price\u201d) or (ii) if the relevant Exercise Date falls in a Net Exercise Period with respect to the Series A Warrants, a number of shares of Common Stock determined as set forth in Section 3.08 (and notwithstanding anything to the contrary in this Agreement, the Holder will not be required to pay the Series A Warrant Exercise Price in respect of such Series A Warrant). Each Series Z Warrant shall entitle the Holder thereof to purchase, during the Exercise Period for the Series Z Warrants, for each Series Z Warrant evidenced thereby, (i) a number of shares of Common Stock equal to the Series Z Warrant Exercise Rate in effect immediately prior to the Close of Business on the relevant Exercise Date, subject to Section 3.06, at an exercise price equal to $17.00 per Series Z Warrant (subject to amendment from time to time in accordance with Section 4.06, the \u201cSeries Z Warrant Exercise Price\u201d) or (ii) if the relevant Exercise Date falls in a Net Exercise Period with respect to the Series Z Warrants, a number of shares of Common Stock determined as set forth in Section 3.08 (and notwithstanding anything to the contrary in this Agreement, the Holder will not be required to pay the Series Z Warrant Exercise Price in respect of such Series Z Warrant). Holders may exercise all or a portion of their Warrants or choose not to exercise any Warrants at all, or may otherwise sell or transfer their Warrants, in each case, in their sole and absolute discretion. (b) The applicable Warrant Exercise Price must be paid in cash except as provided in Section 3.08. (c) Subject (in the case of exercise of a Warrant of a Series for which a Net Exercise Period is in effect) to Section 3.08(c), the number of shares of Common Stock issuable in respect of any exercise of Warrants represented by a Global Warrant shall be determined by the Depositary (or, as may be agreed from time to time between the Calculation Agent and the Company, the Calculation Agent) in accordance with this Agreement; and provided further, however, that in the event the Company disagrees in good faith with any such calculation, the Company may make such calculation in good faith or appoint an Independent Advisor to make such calculation, and the Company\u2019s (or, as the case may be, such Independent Advisor\u2019s) calculation shall be determinative and final and binding on the Depositary, the Warrant Agent, the Calculation Agent, the Holders and (where such calculation is made by an Independent Advisor) the Company. Subject (in the case of exercise of a Warrant of a Series for which a Net Exercise Period is in effect) to Section 3.08(c), the number of shares of Common Stock issuable in respect of any exercise of Warrants represented through the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures shall be determined by the Warrant Agent (or, as may be agreed from time to time between the Calculation Agent and the Company, the Calculation Agent) in accordance with this Agreement; and provided further, however, that in the event the Company disagrees in good faith with any such calculation, the Company may make such calculation in good faith or appoint an Independent Advisor to make such calculation, and the Company\u2019s (or, as the case may be, such Independent Advisor\u2019s) calculation shall be determinative and final and binding on the Warrant Agent, the Calculation Agent, the Holders and (where such calculation is made by an Independent Advisor) the Company. Section 3.02 Exercise Period. (a) Subject to the terms and conditions set forth herein (including without limitation Section 3.04 and Section 5), each Series of Warrants shall be exercisable at any time and from time to time on or after the Issue Date until the Close of Business on the Expiration Date for such Series of Warrants. Notwithstanding the foregoing, the Holders will be able to exercise the Warrants of a Series only if (i) the Exercise Date does not fall in an Exercise Suspension Period and (ii) the Warrant Shares issuable upon exercise of such Series are qualified for sale or exempt from qualification under the applicable securities laws of the states or other jurisdictions in which such Holders reside. The Company may instruct the Warrant Agent in writing from time to time that Warrants held by a member of the Board of Directors, an Officer of the Company or an Affiliate of the Company are subject to further restrictions on exercise related to compliance with applicable securities laws, in which case the Warrant Agent shall not permit the exercise of such Warrants without the written consent of the Company. (b) Subject to the terms and conditions set forth herein (including Section 3.04, Section 4.06 and Section 5), each Series of Warrants will expire and cease to be exercisable at the Close of Business on the date (the \u201cExpiration Date\u201d for such Series of the Warrants) which is (i) November 20, 2026 (\u201cScheduled Expiration Date\u201d) or (ii) if the Early Expiration Price Condition occurs with respect to such Series of Warrants, the Early Expiration Date for such Series of Warrants, where \u201cEarly Expiration Date\u201d means, for any Series of the Warrants, either (x) the first Scheduled Trading Day (or, if a Net Exercise Period is in effect for such Series of Warrants, the second Scheduled Trading Day) immediately following the Early Expiration Price Condition Date for such Series of Warrants (subject to Section 3.02(h)) or (y) (if applicable) the Alternate Expiration Date for such Series of Warrants set pursuant to Section 3.02(d). (c) If the Early Expiration Price Condition Date for a Series of Warrants occurs, the Company will make a public announcement of such occurrence by issuance of a press release (the \u201cEarly Expiration Price Condition Notice\u201d for such Series of Warrants) (and will give notice thereof to the Warrant Agent and the Calculation Agent) as promptly as practicable after close of the regular trading session of the Exchange (disregarding any after-hours trading) on the Early Expiration Price Condition Date for such Series of Warrants setting forth the Early Expiration Date (which may be an Alternate Expiration Date set pursuant to Section 3.02(d)) for such Series of Warrants. (d) The Company may, in its sole discretion, elect to set the Early Expiration Date for a Series of Warrants on any Scheduled Trading Day falling at any time after the first Scheduled Trading Day (or, if a Net Exercise Period is in effect for such Series of Warrants, the second Scheduled Trading Day) immediately following the Early Expiration Price Condition Date for such Series of Warrants (any such date, as such date may be further adjusted pursuant to Section 3.02(e), an \u201cAlternate Expiration Date\u201d for such Series of Warrants). Any such Alternate Expiration Date shall be specified in the Early Expiration Price Condition Notice for such Series of Warrants, provided that such Alternate Expiration Date may be subsequently adjusted pursuant to Section 3.02(e). As a condition to making such election to set an Alternate Expiration Date for a Series of Warrants (except as set forth in Section 3.02(h)), the Company shall have, no later than the fifth (5th) Qualifying Trading Day (whether or not consecutive) for such Series of Warrants occurring in any twenty (20) consecutive VWAP Trading Day period, made a public announcement by issuance of a press release (with notice thereof to the Warrant Agent and the Calculation Agent) that the Company is reserving the right to set an Alternate Expiration Date for such Series of Warrants in the event the Early Expiration Price Condition for such Series of Warrants does occur. For the avoidance of doubt, such election by the Company to set an Alternative Expiration Date for a Series of Warrants shall be deemed effective irrespective of whether the twenty (20) consecutive VWAP Trading Day period referred to in the immediately preceding sentence overlaps or not in any part with the Reference Period that ended on the Early Expiration Price Condition Date for such Series of Warrants. (e) If the Company sets an Alternate Expiration Date for a Series of Warrants, the expiration of such Series of Warrants on such Alternate Expiration Date shall be conditioned on (A) each of the two (2) Scheduled Trading Days immediately preceding such Alternate Expiration Date being a VWAP Trading Day and (B) the Daily VWAP being, on each of such two (2) VWAP Trading Days immediately preceding such Alternate Expiration Date, at least equal to the quotient obtained by dividing the Warrant Exercise Price for such Series of Warrants by the Warrant Exercise Rate for such Series of Warrants on such VWAP Trading Day ((A) and (B) above being the \u201cAdditional Alternate Expiration Date Conditions\u201d for such Series of Warrants in respect of such Alternate Expiration Date). As promptly as practicable after the scheduled close of the regular trading session of the Exchange (disregarding any after-hours trading) on the Scheduled Trading Day immediately preceding the Alternate Expiration Date for a Series of Warrants, the Company will make a public announcement by issuance of a press release (and will give notice thereof to the Warrant Agent and the Calculation Agent) as to whether the Additional Alternate Expiration Date Conditions for such Series of Warrants are met. Whether or not the Additional Alternate Expiration Date Conditions for such Series of Warrants are satisfied, the Company may, in its sole discretion, in any such press release, postpone such Alternate Expiration Date for such Series of Warrants to a new Alternate Expiration Date (which, for the avoidance of doubt, shall be conditional to the Additional Alternate Expiration Date Conditions for such Series of Warrants in respect of the Alternate Expiration Date for such Series of Warrants so postponed). The Company may, in its sole discretion, by making a public announcement by issuance of a press release (and giving notice thereof to the Warrant Agent and the Calculation Agent), postpone further (on one or more occasions) such Alternate Expiration Date for such Series of Warrants to a new Alternate Expiration Date (which, for the avoidance of doubt, shall be conditional to the Additional Alternate Expiration Date Conditions for such Series of Warrants in respect of the Alternate Expiration Date so postponed). (f) If (i) the Additional Alternate Expiration Date Conditions for a Series of Warrants are not satisfied in respect of any Alternate Expiration Date for such Series of Warrants and (ii) the Company does not postpone such Alternate Expiration Date for such Series of Warrants as set forth in Section 3.02(e) (an \u201cAlternate Expiration Date Annulment\u201d in respect of such Alternate Expiration Date), the Expiration Date for such Series of Warrants will remain the Scheduled Expiration Date unless another Early Expiration Price Condition Date subsequently occurs (subject to the terms and conditions set forth herein (including without limitation Section 3.04 and Section 5)). (g) The \u201cExercise Period\u201d for a Series of Warrants is the period during which the Warrants of such Series are exercisable in accordance with the terms and conditions set forth herein (including this Section 3.02, Section 4.06 and Section 5). (h) In the event that a Market Disruption Event occurs on the first Scheduled Trading Day (or, if a Net Exercise Period is in effect for such Series of Warrants, the first or second Scheduled Trading Day) immediately following the Early Expiration Price Condition Date for a Series of Warrants, then the Company may set an Alternative Expiration Date for such Series of Warrants whether or not it has complied with the condition described in the second sentence of Section 3.02(d) with respect to such Series of Warrants. Section 3.03 Expiration. A Warrant of a Series shall terminate and become void as of the earlier of (i) the Close of Business on the Expiration Date for such Series of Warrants and (ii) the time such Warrant is exercised. Section 3.04 Manner of Exercise. (a) Subject to Sections 3.02(b) and 3.03, Warrants may be exercised by a Holder in full or in part, on any Business Day (each, an \u201cExercise Date\u201d) falling in the Exercise Period for such Series of Warrants, by (i) (x) delivery to the Warrant Agent at its office of the related Warrant Certificate, in the case of Warrants issued in certificated form, (y) delivery of the Warrant through the procedures of the Warrant Agent in the case of Warrants represented through the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures or (z) delivery of the Warrant through the systems of the Depositary, in the case of Global Warrants; (ii) electronic delivery to the Warrant Agent of an election to purchase Warrant Shares in the applicable form included in Exhibit A (an \u201cExercise Notice\u201d), duly completed and signed by the Holder; and (iii) unless a Net Exercise Period is in effect for the applicable Series of Warrants, payment in United States dollars by check payable to the order of the Company or the Warrant Agent or by wire transfer to the Company or the Warrant Agent of immediately available funds to an account of or for the benefit of the Company (as designated by the Company and available upon request from the Warrant Agent) in an amount equal to the applicable Warrant Exercise Price multiplied by the number of the Series of Warrants so exercised; provided that if any of (i), (ii) or (iii) above has occurred on or after the Close of Business on any day, it shall instead be deemed to have occurred on the immediately following Business Day (subject to Sections 3.04(c) and 3.04(d)); and provided, further, that the Exercise Date shall be the first Business Day on which all of (i), (ii) and (iii) above have occurred, as determined by the Company in consultation with the Warrant Agent. Notwithstanding anything to the contrary set forth herein, the Company may, in its sole discretion, from time to time offer the Holders or their brokers the right to deliver a notice of guaranteed delivery on the Exercise Date with respect to the Warrants in order to satisfy the delivery requirements of clause (i) above as of the Exercise Date. (b) In the case of a Global Warrant, any Person with a beneficial interest in such Global Warrant shall effect compliance with the requirements in Section 3.04(a)(i), (ii) and (iii) above through the relevant Agent Member in accordance with the procedures of the Depositary. (c) Subject to Section 3.04(d), if the purported Exercise Date of any Warrants is or is deemed to be after the Close of Business on the Expiration Date for the applicable Series of Warrants, the exercise thereof will be null and void and any funds delivered to the Warrant Agent or the Company will be returned to the Holder as soon as practicable. In no event will interest accrue on Funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. (d) Notwithstanding anything to the contrary herein, any otherwise valid exercise of a Warrant submitted after any applicable deadline for exercise may, in the sole and absolute discretion of the Company, be accepted and honored. The Company\u2019s decision with respect to any such exercise shall be determinative. (e) In the case of a Global Warrant, whenever some but not all of the Warrants represented by such Global Warrant are exercised in accordance with the terms thereof and of this Agreement, such Global Warrant shall be surrendered by the Holder to the Warrant Agent, which shall cause an adjustment to be made to such Global Warrant so that the number of Warrants represented thereby will be equal to the number of Warrants theretofore represented by such Global Warrant less the number of Warrants then exercised. The Warrant Agent shall thereafter promptly return such Global Warrant to the Holder or its nominee or custodian. (f) In the case of a Definitive Warrant or book-entry Warrant, whenever some but not all of the Warrants represented by such Definitive Warrant or book-entry Warrant are exercised in accordance with the terms thereof and of this Agreement, the Holder shall be entitled, at the request of the Holder, to receive from the Company within a reasonable time, and in any event not exceeding ten (10) Business Days, a new Definitive Warrant or book-entry statement in substantially identical form for the number of Warrants equal to the number of Warrants theretofore represented by such Definitive Warrant or book-entry statement less the number of Warrants then exercised. (g) If a Warrant Certificate shall have been exercised in full, the Warrant Agent shall promptly cancel such certificate following its receipt from the Holder or the Depositary, as applicable. (h) Unless a Net Exercise Period is in effect for a Series of Warrants, if a Common Stock Shelf Registration Statement is not effective at any time or from time to time for any reason with respect to the Warrant Shares issuable upon exercise of the Warrants of such Series, the right to exercise Warrants of such Series shall be automatically suspended until such Common Stock Shelf Registration Statement becomes effective as specified in Section 5.01. Section 3.05 Issuance of Warrant Shares. (a) Subject to Section 3.02(a), upon any exercise of Warrants in compliance with this Agreement, the Company shall issue and cause the transfer agent for the Common Stock (the \u201cStock Transfer Agent,\u201d which may be the Warrant Agent) to cause to be registered in the Company\u2019s register of shareholders via the direct registration system a number of full Warrant Shares so purchased upon the exercise of such Warrants (determined in accordance with Section 3.06 or, if applicable, Section 3.08) or Units of Reference Property to which it is entitled, registered or otherwise, to the Holder or Holders entitled to receive the same or upon the written order of the Holder(s) in such name or names as the Holder(s) may designate (including any depositary institution so designated by a Holder). In no event shall the Company have the right or obligation or be required to settle the exercise of Warrants through delivery of cash in lieu of Common Stock. (b) Such Warrant Shares or Units of Reference Property shall be delivered after the applicable Exercise Date on the transfer agent\u2019s standard turnaround time. (c) The Company hereby instructs the Warrant Agent to record the cost basis for newly issued shares (or Units of Reference Property) as the sum of (x) the then applicable Warrant Exercise Price for the applicable Series of Warrants plus (y) the Holder\u2019s cost basis in the exercised Warrant, if any, which the Warrant Agent shall request of the Holder, if necessary. (d) The Depositary\u2019s (or the Calculation Agent\u2019s) determination of the number of shares of Common Stock (or Units of Reference Property) to be issued on any exercise of Warrants represented by a Global Warrant and the Depositary\u2019s determination of the validity of such exercise, pursuant to this Agreement, shall govern and the Warrant Agent shall have no duty or obligation to investigate or confirm whether such determinations are accurate or correct. If performed by the Calculation Agent, the determination of the number of shares of Common Stock (or Units of Reference Property) to be issued on any exercise of Warrants represented through the Company\u2019s direct registration system or the Warrant Agent\u2019s other book-entry procedures shall govern and the Warrant Agent shall have no duty or obligation to investigate or confirm whether such determination is accurate or correct. (e) The Person in whose name any shares of Common Stock (or Units of Reference Property) shall be issuable upon exercise of a Warrant shall be treated as a stockholder of record of such shares (or holder of such Units of Reference Property) as of the Close of Business on the relevant Exercise Date, assuming the satisfaction of all conditions, including the payment of the Warrant Exercise Price. Upon the exercise of any Warrants, such Person shall no longer be a Holder of such Warrants as of the Close of Business on the relevant Exercise Date. Section 3.06 Fractional Warrant Shares. The Company shall not be required to issue fractional shares of Common Stock (or Units of Reference Property) on the exercise of Warrants or pay cash in lieu thereof. The number of shares of Common Stock (or Units of Reference Property) that shall be issuable upon an exercise of Warrants by a Holder pursuant to any one Exercise Notice at any time shall be computed on the basis of the aggregate number of shares of Common Stock (or Units of Reference Property) which may be purchased pursuant to the Warrants being exercised by that Holder pursuant to such Exercise Notice. If any fraction of a share of Common Stock (or Units of Reference Property) would be issuable upon the exercise of Warrants pursuant to such Exercise Notice, the total number of shares of Common Stock (or Units of Reference Property) to be issued to the relevant Holder in respect of such Exercise Notice shall be rounded down to the nearest Whole Number and no cash or other adjustment will be made in lieu of the fraction of a share so rounded down. Section 3.07 Reservation of Warrant Shares. (a) The Company shall at all times keep reserved out of its authorized Common Stock a number of shares of Common Stock sufficient to provide for the exercise of all outstanding Warrants. The Company will keep a copy of this Agreement on file with the Stock Transfer Agent and will furnish to such Stock Transfer Agent a copy of all notices of adjustments (and certificates related thereto) transmitted to each Holder. (b) The Company covenants that all Warrant Shares that may be issued upon proper exercise of the Warrants (including payment of the Warrant Exercise Price) shall, upon issue, be fully paid, nonassessable and free of preemptive rights. (c) The Company shall provide an opinion of counsel on or prior to the date hereof which shall state that all Warrants and Warrant Shares, as applicable, (i) were offered, sold or issued as part of a distribution exempt from the registration requirements of the Securities Act (as the case may be), (ii) were issued in compliance with all applicable state securities or \u201cblue sky\u201d laws, and (iii) are validly issued, fully paid and non-assessable. Section 3.08 Net Exercise. (a) The Company may, in its sole discretion, (i) at any time upon at least ten (10) calendar days\u2019 prior notice or (ii) at any time during an Exercise Suspension Period upon at least one (1) Trading Day\u2019s notice, elect to change the exercise method for any Series of Warrants to net exercise to be effected in accordance with this Section 3.08. Subsequent to such change of exercise method to net exercise, the Company may, in its sole discretion, at any time upon at least ten (10) calendar days\u2019 prior notice, change such exercise method back to cash exercise to be effected in accordance with Section 3.04. The Company shall be deemed to have provided any such notice by issuance of a press release, with a copy to the Warrant Agent and the Calculation Agent, of any such election, which shall be deemed effective on the Business Day so designated by the Company in such notice (which, for the avoidance of doubt, must be no earlier than ten (10) days or one (1) Trading Day, as applicable, after such date of such announcement as provided in the immediately preceding sentence). (b) Notwithstanding anything to the contrary in this Agreement, if any Warrant is exercised pursuant to Article III of this Agreement during a Net Exercise Period for such Series of Warrants, a Holder of such Series of Warrants will not be required to pay the Warrant Exercise Price to exercise such Series of Warrants and the number of Warrant Shares issuable for such exercise shall be calculated based on the following formula (subject to Section 3.08(d)):" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b49", + "block_sequence": 49, + "block_sha256": "4523540f1504cd17100c4835e85b7eefd49911580f8efff0599a8f283be6b9e3", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 49, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "417f15fe78295ccfe9c50d1cb265ffc757da030df33c12de78a274a721ff1b6c", + "heading_path": [ + "EXHIBIT 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"data" + }, + "text": "WS | = | the number of Warrant Shares issuable for such exercise;\n | | \nNW | = | the number of Warrants of such Series exercised;\n | | \nWER | = | the Warrant Exercise Rate for such Series of Warrants in effect immediately prior to the Close of Business on the relevant Exercise Date;" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b58", + "block_sequence": 58, + "block_sha256": "c2356069e9d1e79ca924378153cfbbfb4d4416b1f99d41a2940bfdb66c5319db", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 58, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "523f8d9c87ee5664402a4b3edf8f9843b26bbd10e9d376e4dc12cb6e5cdfc520", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "EXERCISE TERMS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", + "table": null, + "text": "24" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b59", + "block_sequence": 59, + "block_sha256": "0363a6979bf81c6e514d3ee161cb613d8b898a0ffbf52855a99d886d15347a38", + "block_type": "table", + "char_count": 394, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 59, + "char_end": 394, + "char_start": 0, + "fragment_sha256": "1c8a84346cac71194fb4822b908d2a6154720492cef982d15a093ffce68510c9", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "EXERCISE TERMS" + ], + "table_index": 4, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | |\n| --- | --- | --- |\n| VWAP | = | the Daily VWAP for the VWAP Trading Day immediately preceding the relevant Exercise Date, subject to the final paragraph of this Section 3.08(b); and |\n| | | |\n| SP | = | the Warrant Exercise Price for such Series of Warrants divided by the Warrant Exercise Rate for such Series of Warrants, in each case in effect immediately prior to the Close of Business on the relev\u2026 |", + "n_cols": 3, + "n_rows": 3, + "plain_text": "VWAP | = | the Daily VWAP for the VWAP Trading Day immediately preceding the relevant Exercise Date, subject to the final paragraph of this Section 3.08(b); and\n | | \nSP | = | the Warrant Exercise Price for such Series of Warrants divided by the Warrant Exercise Rate for such Series of Warrants, in each case in effect immediately prior to the Close of Business on the relevant Exercise Date.", + "rows": [ + [ + "VWAP", + "=", + "the Daily VWAP for the VWAP Trading Day immediately preceding the relevant Exercise Date, subject to the final paragraph of this Section 3.08(b); and" + ], + [ + "", + "", + "" + ], + [ + "SP", + "=", + "the Warrant Exercise Price for such Series of Warrants divided by the Warrant Exercise Rate for such Series of Warrants, in each case in effect immediately prior to the Close of Business on the relevant Exercise Date." + ] + ], + "table_index": 4, + "table_kind": "unknown" + }, + "text": "VWAP | = | the Daily VWAP for the VWAP Trading Day immediately preceding the relevant Exercise Date, subject to the final paragraph of this Section 3.08(b); and\n | | \nSP | = | the Warrant Exercise Price for such Series of Warrants divided by the Warrant Exercise Rate for such Series of Warrants, in each case in effect immediately prior to the Close of Business on the relevant Exercise Date." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b60", + "block_sequence": 60, + "block_sha256": 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Exercise Rate for such Series of Warrants in effect immediately prior to the Close of Business on such Exercise Date has been so adjusted in respect of such event, \u201cVWAP\u201d for the purposes of the above formula shall instead be equal to the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (a) the Daily VWAP for the VWAP Trading Day immediately preceding such Exercise Date and (b) a fraction, the numerator of which is the Warrant Exercise Rate for such Series of Warrants in effect immediately prior to such adjustment and the denominator of which is the Warrant Exercise Rate for such Series of Warrants as so adjusted. (c) Upon receipt of any Exercise Notice relating to a Series of Warrants during a Net Exercise Period for such Series, the Warrant Agent shall deliver a copy of such Exercise Notice to the Company and the Company shall promptly calculate and transmit to the Warrant Agent in writing, the number of whole Warrants to debit and the number of whole Warrant Shares issuable in connection with such exercise of such Warrants. The Warrant Agent shall have no obligation under this Agreement to calculate, the number of Warrant Shares issuable in connection with such net exercise, nor shall the Warrant Agent have any duty or obligation to investigate or confirm whether the Company\u2019s determination of the number of Warrant Shares issuable upon such exercise, pursuant to this Section 3.08, is accurate or correct. (d) If the calculation for any exercise of a Warrant using the formula set forth in Section 3.08(b) would result zero or in a negative number (i.e., if VWAP is equal to or less than SP), then the number of Warrant Shares issuable for such exercise shall be zero and the Warrant so exercised shall cease to be outstanding. For the avoidance of doubt, the number of Warrant Shares issuable pursuant to this Section 3.08 shall be subject to Section 3.06. Section 3.09 Adjustments of Prices. Whenever any provision of this Agreement requires the Company or the Calculation Agent to calculate the average of the daily Last Reported Sale Prices or Daily VWAPs over a span of multiple days (if the Calculation Agent determines in its sole discretion it is able to make such adjustment in its capacity as Calculation Agent), the Company or the Calculation Agent, as applicable, shall make appropriate adjustments, if any, to each to account for any adjustment pursuant to Section 4.01 to the applicable Warrant Exercise Rate that becomes effective, or any event requiring an adjustment pursuant to Section 4.01 to the applicable Warrant Exercise Rate where the Ex-Date or effective date, as the case may be, of the event occurs, at any time during or after the period when the average of the Last Reported Sale Prices or Daily VWAP(s) is to be calculated. If the Calculation Agent determines in its sole discretion it is not able to make such adjustment, the Company may make such adjustment in good faith or appoint an Independent Advisor to make such adjustment, and the Company\u2019s (or, as the case may be, such Independent Advisor\u2019s) calculation shall be determinative and final and binding on the Warrant Agent, the Calculation Agent and the Holders." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b61", + "block_sequence": 61, + "block_sha256": "b7a56873cd771f2c446d369b649430b65a756ba278ff97ec81bb6f55b2e73569", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 61, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "e4d45e36af99269730df46621556f5bce2c931b8e20ccc0414dd585d236a45ad", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "EXERCISE TERMS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", + "table": null, + "text": "25" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b62", + "block_sequence": 62, + "block_sha256": "acc5f8c923bb1ff85a5aba52406bcd69a79906afd27e011bbb944494dd09e0d2", + "block_type": "heading", + "char_count": 10, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 62, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "1514cf346453b0aef38aecddad41cb5bdcee349567b83fe90616a5e00985a4c9", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ARTICLE IV" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s22", + "table": null, + "text": "ARTICLE IV" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b63", + "block_sequence": 63, + "block_sha256": "e64f4bfa19ec17399742748972bb1294309e8f90fd510291a2c1d2532922cad1", + "block_type": "heading", + "char_count": 32, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 63, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "6f9357fb3bdde488757f09420177e2b82243d2c6e6f09f0ea571224e1c7f52fc", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "ADJUSTMENT AND NOTICE PROVISIONS" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b64", + "block_sequence": 64, + "block_sha256": "d35fed35db5a60cc167e58272698b594838ec783b6cc22e92688ba40bd6b6ed2", + "block_type": "paragraph", + "char_count": 796, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 64, + "char_end": 796, + "char_start": 0, + "fragment_sha256": "deb63f04704aa7d431f0d51a55b7d288fa929e25e668bd20155dd08982192683", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "Section 4.01 Adjustments. Subject to the provisions of this Article IV, the Warrant Exercise Rate for each Series of Warrants shall be subject to adjustment, without duplication, as follows: (a) Stock Dividends, Splits, Subdivisions, Reclassifications and Combinations. If the Company shall (i) exclusively issue shares of Common Stock to all or substantially all holders of Common Stock as a dividend or distribution on shares of the Common Stock, (ii) subdivide or reclassify the issued and outstanding shares of Common Stock into a greater number of shares, or (iii) combine, consolidate or reclassify the issued and outstanding shares of Common Stock into a smaller number of shares, then the Warrant Exercise Rate for each Series of Warrants shall be adjusted based on the following formula:" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b65", + "block_sequence": 65, + "block_sha256": "53e44550b63d1f3210820d29879160b76e3bdb07a69815b260c6e20213a1ea99", + "block_type": "page_header", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 65, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "84869a221e646fef08246c48d792d05b5c98102dab7987d26f60da4728160848", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "where:" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b66", + "block_sequence": 66, + "block_sha256": "f1b6fb376a213f33ef33c1ea6e9075348903a2f749869970bfa7df6c6d5a76c2", + "block_type": "table", + "char_count": 1268, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 66, + "char_end": 1268, + "char_start": 0, + "fragment_sha256": "35bcbdd8d621e095c54881a98cf08559be6905eb65dbce773944ef94136b9ffd", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": 5, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution, or at the open of business on the effective date of such subdivision, combinat\u2026 | |\n| | | | |\n| WER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution, or immediately prior to open of business on the effective da\u2026 | |\n| | | | |\n| OS1 | = | the number of shares of Common Stock outstanding immediately after, and solely as a result of giving effect to, such dividend, distribution, subdivision, combination, consolidation or reclassificatio\u2026 | |\n| | | | |\n| OS0 | = | the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Date for such dividend or distribution or immediately prior to the open of business on the effecti\u2026 | |", + "n_cols": 4, + "n_rows": 7, + "plain_text": "WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution, or at the open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable; | \n | | | \nWER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution, or immediately prior to open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable; | \n | | | \nOS1 | = | the number of shares of Common Stock outstanding immediately after, and solely as a result of giving effect to, such dividend, distribution, subdivision, combination, consolidation or reclassification, as applicable; | \n | | | \nOS0 | = | the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Date for such dividend or distribution or immediately prior to the open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable (before giving effect to any such dividend, distribution, or subdivision, consolidation, combination or reclassification, as applicable). | ", + "rows": [ + [ + "WER1", + "=", + "the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution, or at the open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable;", + "" + ], + [ + "", + "", + "", + "" + ], + [ + "WER0", + "=", + "the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution, or immediately prior to open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable;", + "" + ], + [ + "", + "", + "", + "" + ], + [ + "OS1", + "=", + "the number of shares of Common Stock outstanding immediately after, and solely as a result of giving effect to, such dividend, distribution, subdivision, combination, consolidation or reclassification, as applicable;", + "" + ], + [ + "", + "", + "", + "" + ], + [ + "OS0", + "=", + "the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Date for such dividend or distribution or immediately prior to the open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable (before giving effect to any such dividend, distribution, or subdivision, consolidation, combination or reclassification, as applicable).", + "" + ] + ], + "table_index": 5, + "table_kind": "unknown" + }, + "text": "WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution, or at the open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable; | \n | | | \nWER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution, or immediately prior to open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable; | \n | | | \nOS1 | = | the number of shares of Common Stock outstanding immediately after, and solely as a result of giving effect to, such dividend, distribution, subdivision, combination, consolidation or reclassification, as applicable; | \n | | | \nOS0 | = | the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Date for such dividend or distribution or immediately prior to the open of business on the effective date of such subdivision, combination, consolidation or reclassification, as applicable (before giving effect to any such dividend, distribution, or subdivision, consolidation, combination or reclassification, as applicable). | " + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b67", + "block_sequence": 67, + "block_sha256": "5f9c4ab08cac7457e9111a30e4664920607ea2c115a1433d7be98e97e64244ca", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 67, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "b508b40ad4dd77d9d0484eca8ac0c8b7f3bc17010d8d5cc2491792b8eecf2d33", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "26" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b68", + "block_sequence": 68, + "block_sha256": "ba14da476d51d18d958b011137d71cc626d0f1cd5d4cc715b93870765f27d4a9", + "block_type": "paragraph", + "char_count": 1589, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 68, + "char_end": 1589, + "char_start": 0, + "fragment_sha256": "08db903533e43ecaa011ac138ac1c1004be53e523a2729411fd242dbe26d6376", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "Any adjustment made under this clause (a) shall become effective at the open of business on such Ex-Date for such dividend or distribution, or at the open of business on the effective date for such subdivision, consolidation, combination or reclassification, as applicable. If an adjustment to the Warrant Exercise Rate is made in respect of any dividend or distribution, subdivision, consolidation, combination or reclassification of the type described in this clause (a) but such dividend or distribution, subdivision, consolidation, combination or reclassification is not so paid or made, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to pay or make such dividend or distribution, subdivision, consolidation, combination or reclassification, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. (b) Rights Issues. 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and | \n | | | \nY | = | the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of 10 consecutive Trading Days immediately preceding the date of announcement of the issuance of such rights, options or warrants. | " + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b71", + "block_sequence": 71, + "block_sha256": "670671cd97404156226e507973f2ab8330d3022ca96e0c93bdbdb320c41adcaf", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 71, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "670c5b71aa4708ddb4d394975174d1f465021edf9d9e3704430cc97e33a9a084", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "27" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b72", + "block_sequence": 72, + "block_sha256": "9e385fe23757f6abecdb319eaf67ca540c5975e94ea2b3ca42b07f3a06108a15", + "block_type": "paragraph", + "char_count": 3164, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 72, + "char_end": 3164, + "char_start": 0, + "fragment_sha256": "9359e79a9146f5f7d91b7dd6e3dc2c3168aeb4f4ea305a55291b5d757b3b4b75", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "Any adjustment to the applicable Warrant Exercise Rate made under this clause (b) shall be made whenever any such rights, options or warrants are issued and shall become effective at the open of business on the Ex-Date for such issuance. To the extent that shares of the Common Stock are not delivered after the expiration of such rights, options or warrants, the Warrant Exercise Rate shall be decreased to the applicable Warrant Exercise Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If an adjustment to the applicable Warrant Exercise Rate is made in respect of any such issuance of rights, options or warrants but such rights, options or warrants are not so issued, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to issue such rights, options or warrants, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. For purposes of this clause (b), in determining whether any rights, options or warrants entitle the holders of the Common Stock to subscribe for or purchase shares of the Common Stock at less than such arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of 10 consecutive Trading Days immediately preceding the date of announcement for such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. (c) Other Distributions and Spin-Offs. (i) Distributions Other than Spin-Offs. If the Company makes a distribution to all or substantially all holders of its Common Stock, of its Capital Stock, evidences of indebtedness, other assets or property of the Company, or rights, options or warrants to acquire its Capital Stock or other securities, excluding: (1) any dividends, distributions or issuances described in clause (a) above or clause (b) above; (2) any dividends or distributions paid exclusively in cash described in clause (d) below; (3) any dividends or distributions in connection with a Share Exchange Event, reclassification, change, consolidation conveyance, transfer, sale, lease or other disposition resulting in the change in the securities or property receivable upon the exercise of a warrant as described in Section 4.03; (4) any rights issued pursuant to a shareholders\u2019 rights plan adopted by the Company, other than as described in clause (e); (5) any Spin-Offs described below in Section 4.01(c)(ii); and (6) any dividend or distribution by the Company of any rights, options or warrants to purchase Common Stock (each, an \u201cExcluded Distribution\u201d), then the Warrant Exercise Rate for each Series of Warrants shall be increased based on the following formula:" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b73", + "block_sequence": 73, + "block_sha256": "59e19706d51d39f66711c2653cd7eb1291c94d9b55eb14bda74ce4dc636d015a", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 73, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "c5765734e08dfa8364e1e54efb43b36abae579f36ef4eb5687f4cc2694aa8967", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "28" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b74", + "block_sequence": 74, + "block_sha256": "53e44550b63d1f3210820d29879160b76e3bdb07a69815b260c6e20213a1ea99", + "block_type": "page_header", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 74, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "7cb26dbaec0eff9cdc72177a3cbfd7eb4ac7b4217b04e4216a1274aa7b239fc2", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "where:" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b75", + "block_sequence": 75, + "block_sha256": "3eed4eb5c47c16135f273c6c1d30fd5dbf2b71d07db63552b0bdeb42714c8ec1", + "block_type": "table", + "char_count": 806, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 75, + "char_end": 806, + "char_start": 0, + "fragment_sha256": "9bd6eca26d22aa0c0441f42b888358b0bb514107fe468218a46092bcd17692dc", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": 7, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such distribution; 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| \n | | | \nWER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such distribution; | \n | | | \nSP0 | = | the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of 10 consecutive Trading Days immediately preceding the Ex-Date for such distribution; and | \n | | | \nFMV | = | the Fair Market Value, as of the open of business on the Ex-Date for such distribution, of the shares of Capital Stock, evidences of indebtedness, assets or property of the Company, cash, rights or warrants distributed with respect to each outstanding share of Common Stock. | " + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b76", + "block_sequence": 76, + "block_sha256": "b83ba3c96fdcc80271cc957e6085e85beb17b9f729cf0c35815b3d374fa7deca", + "block_type": "paragraph", + "char_count": 807, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 76, + "char_end": 807, + "char_start": 0, + "fragment_sha256": "ad3e76d967df2ccef7b794ac13ecd1a4ec39d4bdebb065f7fca8e969b4e7a884", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "Execution Version", + "TABLE OF CONTENTS", + "ARTICLE I", + "ADJUSTMENT AND NOTICE PROVISIONS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", + "table": null, + "text": "Any adjustment to the applicable Warrant Exercise Rate under this clause (c)(i) shall become effective at the open of business on the Ex-Date for such distribution. (ii) Spin-Offs. 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"norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", + "table": null, + "text": "FMV = the arithmetic average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock on each day which is a Trading Day for both the Common Stock and the Capital Stock or similar equity interest so distributed (each, a \u201cValuation Trading Day\u201d) comprised in the period of 10 consecutive Valuation Trading Days commencing on the Ex-Date for such Spin-Off (or, if such Ex-Date is not a Valuation Trading Day, commencing on the immediately following Valuation Trading Day) (such period, the \u201cValuation Period\u201d); and" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b82", + "block_sequence": 82, + "block_sha256": "30298288d4a423d607c0e9a77df2ca8d3ba2fcc12e39b8b2bbfe14c4bd9d3cc3", + "block_type": "paragraph", + "char_count": 136, + "level": null, + 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"locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 83, + "char_end": 971, + "char_start": 0, + "fragment_sha256": "f2e77119327703574d12c04bf4ec40378edb02a14a73678237015ea8c37b49b4", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", + "table": null, + "text": "Any adjustment to the applicable Warrant Exercise Rate under this clause (c)(ii) shall be made immediately after the Close of Business on the last day of the Valuation Period, but shall become effective at the open of business on the Ex-Date for the Spin-Off, subject to Section 4.02(b). If an adjustment to the applicable Warrant Exercise Rate is made in respect of any distribution of the type described in this clause (c) but such distribution is not so made, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to make such distribution, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. (d) Cash Dividends or Distributions. If any cash dividend or distribution is paid to all or substantially all holders of Common Stock, then the Warrant Exercise Rate for each Series of Warrants shall be increased based on the following formula:" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b84", + "block_sequence": 84, + "block_sha256": "53e44550b63d1f3210820d29879160b76e3bdb07a69815b260c6e20213a1ea99", + "block_type": "page_header", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 84, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "7cb26dbaec0eff9cdc72177a3cbfd7eb4ac7b4217b04e4216a1274aa7b239fc2", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", + "table": null, + "text": "where:" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85", + "block_sequence": 85, + "block_sha256": "900e9ad312a730d0661b71e669e2209bc20e6cca8c96c96b79d6f39b19020a79", + "block_type": "paragraph", + "char_count": 21156, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 85, + "char_end": 21156, + "char_start": 0, + "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", + "table": null, + "text": "WER1 = the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution; and WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution; SP0 = the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of ten consecutive Trading Days immediately preceding the Ex-Date for such dividend or distribution; C = the amount in cash per share the Company distributes to holders of the Common Stock; Any adjustment to the applicable Warrant Exercise Rate made under this clause (d) shall become effective at the open of business on the Ex-Date for such dividend or distribution. If an adjustment to the applicable Warrant Exercise Rate is made in respect of any dividend or distribution of the type described in this clause (d) but such dividend or distribution is not so paid, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. (e) Shareholder Rights Plan. If the Company has a shareholder rights plan in effect upon the Exercise Date of a Warrant, each share of Common Stock, if any, issued upon such exercise shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued upon such exercise shall bear such legends, if any, in each case as may be provided by the terms of any such shareholder rights plan, as the same may be amended from time to time. However, if, prior to any exercise, the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable shareholder rights plan so that the Holders of Warrants would not be entitled to receive any rights in respect of Common Stock, if any, issuable upon exercise, the applicable Warrant Exercise Rate shall be adjusted at the time of separation as if the Company had made a distribution to all holders of its Common Stock as provided in Section 4.01(b), subject to readjustment in the event of the expiration, termination or redemption of such rights. (f) No Adjustments in Certain Cases: (i) Notwithstanding anything to the contrary in clauses (a) through (e) of Section 4.01, the Company will not be obligated to adjust the Warrant Exercise Rate for any Series on account of a transaction or other event otherwise requiring an adjustment pursuant to such clauses (other than a stock split or combination of the type set forth in Section 4.01(a)) if each Holder participates, at the same time and on the same terms as holders of Common Stock, at the same time and upon the same terms as holders of the shares of Common Stock and solely as a result of holding the applicable Warrants in such transaction or event without having to exercise such Holder\u2019s Warrants, as if such Holder held a number of shares of Common Stock equal to the product (rounded down to the nearest Whole Number) of (i) the Warrant Exercise Rate in effect for such Series of Warrants on the Record Date for such transaction and (ii) the number of Warrants of such Series held by it on such Record Date. (ii) The Company will not be required to adjust the Warrant Exercise Rate for any Series except as provided in this Section 4.01. Without limiting the foregoing, the Company will not be obligated to adjust the Warrant Exercise Rate for any Series on account of: (1) except as otherwise provided in Section 4.01, the sale of shares of Common Stock for a purchase price that is less than the market price per share of Common Stock or less than quotient obtained by dividing the Warrant Exercise Price for such Series by the Warrant Exercise Rate for such Series; (2) the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company\u2019s securities and the investment of additional optional amounts in shares of Common Stock under any such plan; (3) the issuance of any shares of Common Stock or options or rights to purchase shares of Common Stock pursuant to any present or future employee, director or consultant benefit plan or program of, or assumed by, the Company or any of its subsidiaries; (4) the issuance of any shares of Common Stock pursuant to any option, warrant, right or convertible or exchangeable security of the Company outstanding as of the Issue Date or issued in any Excluded Distribution; or (5) solely a change in the par value of the Common Stock. Section 4.02 Calculation of Adjustments; Timing of Issuance of Additional Warrant Shares Upon Certain Adjustments; Adjustment Rules. (a) All adjustments to the applicable Warrant Exercise Rate under Section 4.01 shall be made by the Calculation Agent to the nearest whole multiple of 0.00001 (with 0.000005 being rounded upwards) share of Common Stock. (b) Notwithstanding anything to the contrary in this Agreement or the Warrants, (i) if the provisions of Section 4.01 shall require that an adjustment be made to the Warrant Exercise Rate of any Series of Warrants in respect of any distribution or other relevant event, and the shares of Common Stock issuable in respect of any exercise are entitled to participate in such distribution or other relevant event, such adjustment shall not be given effect for the purpose of such exercise of Warrants of such Series of Warrants and (ii) if the Exercise Date in respect of any exercise of Warrants falls after the Record Date for any Spin-Off and on or before the last day of the relevant Valuation Period, delivery of the shares of Common Stock issuable (or amount of cash payable, as applicable) pursuant to such exercise shall occur as soon as practicable after the last day of such Valuation Period. (c) Any adjustments pursuant to Section 4.01 shall be made successively whenever an event referred to therein shall occur. Section 4.03 Effect of Share Exchange Event. (a) In case of: (i) any recapitalization, reclassification or change of the Common Stock (other than a change to par value, or from par value to no par value, or changes resulting from a subdivision or combination); (ii) any consolidation, merger, combination or similar transaction involving the Company; (iii) any sale, lease or other transfer to a third party of the consolidated assets of the Company and the Company\u2019s Subsidiaries substantially as an entirety; or (iv) any statutory share exchange; in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof) (any such event, a \u201cShare Exchange Event\u201d), then, at and after the effective time of such Share Exchange Event, the right to exercise each Warrant to purchase Warrant Shares shall be changed into a right to exercise such Warrant to purchase the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Warrant Exercise Rate immediately prior to such Share Exchange Event would have owned or been entitled to receive (the \u201cReference Property\u201d, with each \u201cUnit of Reference Property\u201d meaning the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to receive) upon such Share Exchange Event and, prior to or at the effective time of such Share Exchange Event, the Company or the successor or acquiring Person, as the case may be, shall execute with the Warrant Agent an amendment to this Agreement permitted under Section 4.06(a)(viii) providing for such change in the right to exercise each Warrant; provided, however, that at and after the effective time of the Share Exchange Event any shares of Common Stock that the Company would have been required to deliver upon exercise of the Warrants in accordance with Section 3.05 shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have received in such Share Exchange Event. If the Share Exchange Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of shareholder election), then (i) the Reference Property which a Holder of Warrants will receive upon exercise of such Warrants shall be deemed to be the weighted average of the types and amounts of consideration actually received by the holders of Common Stock, and (ii) the Unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one (1) share of Common Stock. If the Unit of Reference Property includes, but does not consist entirely of, cash in such Share Exchange Event, then for all exercises of Warrants for which the relevant Exercise Date occurs after the effective date of such Share Exchange Event, (A) the payment of the Warrant Exercise Price required to exercise any Warrant shall be deducted or removed (but, for the avoidance of doubt, not deducted below zero), as applicable, by an amount equal to the product of (I) the Warrant Exercise Rate in effect on the Exercise Date and (II) the amount of cash included in such Unit of Reference Property and (B) from the cash that would otherwise be received by the Holder upon exercise of such Warrant shall be deducted or removed (but, for the avoidance of doubt, not deducted below zero), as applicable, by an amount equal to the amount so deducted from the payment of the Warrant Exercise Price pursuant to the immediately preceding clause (A). If the holders of the Common Stock receive only cash in such Share Exchange Event, then for all exercises of Warrants for which the relevant Exercise Date occurs after the effective date of such Share Exchange Event, (A) no payment of the Warrant Exercise Price will be required to exercise any Warrant, (B) the consideration due upon exercise of each Warrant shall be solely cash in an amount equal to the excess, if any, of (I) the product of (x) the Warrant Exercise Rate in effect on the Exercise Date and (y) the price paid per share of Common Stock in such Share Exchange Event over (II) the Warrant Exercise Price and (C) the Company shall satisfy its obligation to deliver the units of Reference Property in connection with an exercise of Warrants by paying cash to exercising Holders on the fifth (5th) Business Day immediately following the relevant Exercise Date. The Company shall notify Holders and the Warrant Agent in writing of such weighted average as soon as practicable after such determination is made. If the Reference Property in respect of any such Share Exchange Event includes, in whole or in part, shares of Common Equity or American depositary receipts (or other interests) in respect thereof, such amendment to this Agreement described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall be as nearly equivalent as is possible to the adjustments provided for in this Article IV with respect to the portion of the Reference Property consisting of such Common Equity or American depositary receipts (or other interests) in respect thereof. If, in the case of any Share Exchange Event, the Reference Property includes shares of stock, securities or other property or assets (including any combination thereof), other than cash and/or cash equivalents, of a Person other than the Company or the successor or acquiring Person, as the case may be, in such Share Exchange Event, then such amendment to this Agreement shall also be executed by such other Person, if such Person is an Affiliate of the Company or the successor or acquiring Person, and shall contain such additional provisions to protect the interests of the Holders as the Company shall in good faith reasonably consider necessary by reason of the foregoing. (b) When the Company executes an amendment to this Agreement pursuant to subsection (a) of this Section 4.03, the Company shall promptly file with the Warrant Agent a certificate from a duly authorized Officer of the Company briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise a Unit of Reference Property after any such Share Exchange Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly deliver or cause to be delivered notice thereof to all Holders. The Company shall cause notice of the execution of such amendment to this Agreement to be delivered to each Holder within twenty (20) days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such amendment to this Agreement. (c) The above provisions of this Section shall similarly apply to successive Share Exchange Events. Section 4.04 Notice of Adjustments. Whenever any adjustment is made pursuant to this Article IV, the Company shall cause notice of such adjustment to be delivered to the Warrant Agent as soon as practicable following the effective date of such adjustment, such notice to include in reasonable detail (i) the reason for the adjustment, (ii) the computation of any adjustments, and (iii) the new or amended exercise terms, including, as applicable, the adjusted applicable Warrant Exercise Rate (or the number of shares or the Units of Reference Property purchasable upon exercise of each Warrant) and the Early Expiration Trigger Price for such Series of Warrants after giving effect to such adjustment. The calculations, adjustments and determinations included in the Company\u2019s notice shall, absent manifest error, be final and binding on the Company, the Warrant Agent and the Holders. The Warrant Agent shall be entitled to rely on such notice and any adjustment therein contained and the Warrant Agent shall not be deemed to have knowledge of any such adjustment unless and until it shall have received such notice. The Warrant Agent shall have no obligation under any section of this Agreement to determine whether an adjustment is required or to calculate any of the adjustments set forth herein. The Company shall provide notice to the Holders of any such adjustment by press release or such other method as the Company may reasonably determine adequately informs the Holders of such adjustment. The Warrant Agent shall as soon as practicable after receipt of such notice from the Company (which notice must specifically direct the Warrant Agent to perform delivery) cause a similar notice to be delivered to the Depositary pursuant to the customary procedures of the Depositary. Section 4.05 Adjustment to Warrant Certificate. The form of Warrant Certificate for any Series of Warrants need not be changed because of any adjustment made pursuant to this Article IV, and Warrant Certificates issued after such adjustment may state the same Warrant Exercise Rate as are stated in any Warrant Certificates issued prior to such adjustment. The Company, however, may at any time in its sole discretion make any change in the form of any Warrant Certificate that it may deem appropriate to give effect to such adjustments and that does not affect the substance of the Warrant Certificate, and any Warrant Certificate thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant Certificate or otherwise, may be in the form as so changed. For the avoidance of doubt, no change to a Warrant Certificate or this Agreement as a result of an adjustment pursuant to this Article IV shall require the consent of the Holders of any Warrants or the Warrant Agent. Section 4.06 Amendments. (a) The Company and the Warrant Agent, without the consent of the Holders, may from time to time and at any time amend this Agreement and/or any Warrant Certificate for one or more of the following purposes: (i) to cure any ambiguity, omission, defect or inconsistency; (ii) to provide for the assumption by a successor company in any Share Exchange Event, if applicable; (iii) to extend the Expiration Date for any Series of Warrants; (iv) to increase the Warrant Exercise Rate or decrease the Warrant Exercise Price for any Series of Warrants; (v) to provide for net share settlement upon exercise of any Series of Warrants in a manner other than as provided in Section 3.08; (vi) to make any change that does not adversely affect the rights of any Holder in any material respect; (vii) to provide for a successor Warrant Agent or Calculation Agent; (viii) in connection with any Share Exchange Event, to provide that Warrants are exercisable for Units of Reference Property; (ix) to comply with the rules of any applicable Depositary so long as such amendment does not adversely affect the rights of any Holder in any material respect; (x) to conform the provisions of this Agreement or the Warrant Certificate to the \u201cDescription of the Warrants\u201d section of the prospectus supplement relating to the issuance and sale of shares of Common Stock upon exercise of the Warrants; or (xi) to provide for or confirm the issuance of additional Warrants pursuant to Section 2.01(a)(iv). Any amendment authorized by the provisions of this Section 4.06(a) may be executed by the Company and the Warrant Agent without the consent of the Holders of any of the Warrants at the time outstanding, notwithstanding any of the provisions of Section 4.06(b). The Warrant Agent shall not unreasonably refuse to execute any such amendment proposed by the Company. (b) With the written consent of the Holders of a majority of the then outstanding Warrants of any Series, the Company may from time to time amend this Agreement and/or the Warrant Certificate for such Series of Warrants in a manner that has a material adverse effect on the interests of the Holders of such Series of Warrants. Notwithstanding the foregoing, in the event that any amendment would have a material adverse effect on the interests of the Holders of all Series of Warrants in the same manner, then such amendment shall require the written consent of the Holders of a majority of the then outstanding Warrants of all Series, voting as a single class. In determining whether the Holders of the required number of Warrants of a Series or of all Series of Warrants have concurred in any direction, waiver or consent, only Warrants outstanding at the time shall be considered in any such determination, and the Warrants known to the Warrant Agent to be owned by the Company shall be disregarded and deemed not to be outstanding for such purpose. The Company or the Warrant Agent may set a Record Date for any such direction, waiver or consent and only the Holders as of such Record Date shall be entitled to make or give such direction, waiver or consent. (c) No supplement or amendment to this Agreement or any Warrant Certificate pursuant to Section 4.06 shall be effective unless duly executed by the Warrant Agent and the Company. As a condition precedent to the Warrant Agent\u2019s execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized Officer of the Company that states that the proposed amendment is in compliance with the terms of Section 4.06. Notwithstanding anything in this Agreement to the contrary, the Warrant Agent may, but shall not be obligated to, enter into any supplement or amendment that adversely affects the Warrant Agent\u2019s own rights, duties, immunities or obligations under this Agreement. (d) The Company shall provide reasonable notice to the Holders via press release or Form 8-K filing of any material amendment to this Agreement or any Warrant Certificate pursuant to this Section 4.06, and in each case materiality shall be determined by the Company using its sole reasonable discretion. The Warrant Agent shall as soon as practicable after receipt of such notice from the Company (which notice must specifically direct the Warrant Agent to perform delivery) cause a similar notice to be delivered to the Depositary pursuant to the customary procedures of the Depositary. Upon the execution of any amendment of this Agreement or the Warrant Certificate pursuant to the provisions of this Section 4.06, this Agreement and/or the applicable Warrant Certificate shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties and immunities under Agreement of the Company, the Warrant Agent and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such amendment shall be and be deemed to be part of the terms and conditions of this Agreement and the applicable Warrant Certificate for any and all purposes." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b86", + "block_sequence": 86, + "block_sha256": "624b60c58c9d8bfb6ff1886c2fd605d2adeb6ea4da576068201b6c6958ce93f4", + "block_type": "page_number", + "char_count": 2, + "level": 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The Company shall use commercially reasonable efforts to cause a shelf registration statement (including, at the Company\u2019s election, an existing registration statement or a replacement thereof), filed pursuant to Rule 415 (or any successor provision) of the Securities Act, covering the issuance of Warrant Shares to the Holders upon exercise of each Series of Warrants by the Holders thereof (the \u201cCommon Stock Shelf Registration Statement\u201d) to, subject to certain exceptions, (i) become effective as promptly as reasonably practicable after the date of this Agreement and (ii) remain effective at least until the earlier of (x) such time as all Warrants have been exercised and (y) the Close of Business on the latest Expiration Date for all Series of Warrants. The Company shall promptly inform the Warrant Agent of any change in the status of the effectiveness or availability of the Common Stock Shelf Registration Statement. For the avoidance of doubt, no Warrants shall be exercisable at any time until a Common Stock Shelf Registration Statement becomes effective. If a Common Stock Shelf Registration Statement is not effective at any time or from time to time for any reason, then the right to exercise each Series of Warrants shall (unless there is a Net Exercise Period in effect for such Series of Warrants) be automatically suspended until such Common Stock Shelf Registration Statement becomes effective (any such period (which, for the avoidance of doubt, shall exclude any Net Exercise Period with respect of such Series of Warrants), an \u201cExercise Suspension Period\u201d for such Series of Warrants). As promptly as practicable upon each occurrence of an Exercise Suspension Period for any Series of Warrants, the Company shall provide notice by press release, with a copy to the Warrant Agent and the Calculation Agent, of such Exercise Suspension Period. Notwithstanding anything to the contrary in this Agreement, (i) no calculation of the Daily VWAP for purposes of determining the Early Expiration Price Condition for any Series of Warrants shall occur during any Exercise Suspension Period for such Series of Warrants, and (ii) if the Expiration Date for such Series of Warrants would otherwise fall in an Exercise Suspension Period, the Expiration Date for such Series of Warrants shall be delayed by the number of days comprised in such Exercise Suspension Period for such Series of Warrants. Section 5.02 Suspension. The Company shall be entitled to suspend the availability of the Common Stock Shelf Registration Statement from time to time if the Board of Directors determines in the exercise of its reasonable judgment that such suspension is necessary or desirable, as determined by the Company in its sole discretion, and provides notice via press release that such determination was made to the Warrant Agent and Holders of the Warrants (provided that, upon request by the Company, the Stock Transfer Agent will deliver a copy of such notice to the Depositary pursuant to the customary procedures of the Depositary) and any such suspension period shall be treated as an Exercise Suspension Period for any Series of Warrants with respect to which no Net Exercise Period is then in effect. In no event shall the Company be required to disclose the business purpose for such suspension if the Company determines in good faith that such business purpose should remain confidential. Section 5.03 Expenses. Subject to Section 2.04(c)(ii), all expenses incurred directly by the Company that are incident to the Company\u2019s performance of or compliance with its obligations under this Article V relating to the issuance of the Warrant Shares will be borne by the Company, including, without limitation: (i) all SEC, stock exchange or Financial Industry Regulatory Authority registration and filing fees, (ii) all fees and expenses incurred by the Company in connection with its compliance with state securities or blue sky laws, (iii) all expenses of any Persons incurred by or on behalf of the Company with the prior written consent of the Company in preparing or assisting in preparing, printing and distributing the Common Stock Shelf Registration Statement or any other registration statement, prospectus, any amendments or supplements thereto and other documents relating to the performance of and compliance with this Article V, (iv) the fees and disbursements of counsel for the Company and (v) the 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The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express provisions of this Agreement and the Warrant Agent hereby accepts such appointment. Section 7.02 Rights and Duties of Warrant Agent. (a) Agent for the Company. In acting under this Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligation or relationship or agency or trust for or with any Holder or beneficial owner of the Warrants. All fees and expenses due the Warrant Agent shall be paid to the Warrant Agent by the Company. The Warrant Agent shall have no duty to determine which costs, if any, under this Agreement shall be borne by the Holders or by the Company. (b) Counsel. The Warrant Agent may consult with counsel satisfactory to it (who may be counsel to the Company) and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in the absence of bad faith (which bad faith must be determined by a final non-appealable order, judgment, decree or ruling of a court of competent jurisdiction) and in accordance with the advice of such counsel. (c) Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties. (d) No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificates, and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that may tend to involve it in any expense or liability for which it does not receive indemnity if such indemnity is reasonably requested. The Warrant Agent shall not be accountable or under any duty or responsibility for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. (e) Not Responsible for Adjustments or Validity of Stock. The Warrant Agent shall not at any time be under any duty or responsibility to any Holder to determine whether any facts exist that may require an adjustment of the Warrant Exercise Rate, or with respect to the nature or extent of any adjustment when made, or with respect to the method employed, or herein or in any supplemental agreement provided to be employed, in making the same, or with respect to any new exercise terms, or with respect to calculations of any adjustments or any amounts due in connection with any exercise of the Warrants. The Warrant Agent shall not be accountable with respect to the validity or value of any shares of Common Stock or of any securities or property which may at any time be issued or delivered upon the exercise of any Warrant or upon any adjustment pursuant to Article IV, and the Warrant Agent makes no representation with respect thereto. The Warrant Agent shall not be responsible for any failure of the Company to make any cash payment or to issue, transfer or deliver any Warrant Shares upon the surrender of any Warrant Certificate for the purpose of exercise, nor shall the Warrant Agent be liable for any liquidated damages or any other damages associated therewith. (f) No Liability for Interest. The Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates. (g) Agents and Attorneys. The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such attorney or agents or subcontractors or for any loss to the Company resulting from any such act, default, neglect or misconduct, absent gross negligence, bad faith or willful misconduct (each as determined by a final, non-appealable judgment of a court of competent jurisdiction) in the selection or continued employment thereof. (h) Medallion Guarantee. The Warrant Agent may rely on and be fully authorized and protected in acting or failing to act upon (i) any guaranty of signature by an \u201celigible guarantor institution\u201d that is a member or participant in the Securities Transfer Agents Medallion Program or other comparable \u201csignature guarantee program\u201d or insurance program in addition to, or in substitution for, the foregoing; or (ii) any law, act, regulation or any interpretation of the same even though such law, act, or regulation may thereafter have been altered, changed, amended or repealed. Section 7.03 Individual Rights of Warrant Agent. The Warrant Agent and any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of the Company or its Affiliates or become pecuniary interested in transactions in which the Company or its Affiliates may be interested, or contract with or lend money to the Company or its Affiliates or otherwise act as fully and freely as though it were not the Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity. Section 7.04 Warrant Agent\u2019s Disclaimer. The Warrant Agent shall not be responsible for and makes no representation as to the validity or adequacy of this Agreement or the Warrant Certificates (other than its countersignature thereof) and it shall not be responsible for any statements of fact or recitals contained in this Agreement or the Warrant Certificates other than its countersignature thereof by the Company, or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by the Company only; nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant Certificate; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant Certificate or as to whether any shares of Common Stock will, when issued, be duly authorized, validly issued, fully paid and nonassessable. Section 7.05 Compensation and Indemnity. (a) Compensation. The Company agrees that the Warrant Agent is entitled, from time to time, to reasonable compensation for its services as agreed in accordance with a fee schedule to be mutually agreed upon between the Company and the Warrant Agent in writing for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable and documented counsel fees and other disbursements incurred in the preparation, delivery, negotiation, amendment, administration and execution of this Agreement and the exercise and performance of its duties hereunder) by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent. (b) Indemnity. The Company shall indemnify and hold harmless the Warrant Agent, its officers, directors, agents and counsel against any loss, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including reasonable attorneys\u2019 fees and expenses) which may be paid, incurred or suffered by or to which it may become subject arising from or out of, directly or indirectly, any claims or liability resulting from any action taken, suffered or omitted by the Warrant Agent in connection with the execution, acceptance, administration, exercise and performance of its duties under this Agreement, including the reasonable costs and expenses of defending against any claim of liability arising therefrom, directly or indirectly, or of enforcing its indemnification rights under this Agreement. The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Warrant Agent, its officers, directors, agents and/or counsel through willful misconduct or gross negligence of any one or more of them (which willful misconduct or gross negligence must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). (c) Company Instructions. From time to time, the Company may provide the Warrant Agent with instructions concerning the services performed by the Warrant Agent hereunder. In addition, at any time the Warrant Agent may apply to any officer of the Company for instruction, and may consult with legal counsel for the Warrant Agent or the Company with respect to any matter arising in connection with the services to be performed by the Warrant Agent under this Agreement. The Warrant Agent and its agents and subcontractors shall not be liable and shall be indemnified by the Company for any action taken or omitted in the absence of bad faith by the Warrant Agent (i) in reliance upon any written Company instructions or (ii) upon the advice or opinion of such counsel (in which case, the Warrant Agent will provide advance notice to the Company if it will not take an action required by this Agreement because of the advice or opinion of such counsel). The Warrant Agent shall not be held to have notice of any change of authority of any person, until receipt of written notice thereof from the Company. (d) Limitation of Liability. The Warrant Agent shall be liable hereunder only for its own gross negligence, bad faith or willful misconduct (each as determined by a final, non-appealable judgment of a court of competent jurisdiction). Notwithstanding anything contained herein to the contrary, the Warrant Agent\u2019s aggregate liability during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement, or from all services provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid hereunder by the Company to the Warrant Agent as fees and charges, but not including reimbursable expenses, during the twelve (12) months immediately preceding the event for which recovery from Warrant Agent is being sought. (e) Consequential Damages. Neither party to this Agreement shall be liable to the other party for any consequential, indirect, special or incidental damages under any provisions of this Agreement or for any consequential, indirect, punitive, special or incidental damages arising out of any act or failure to act hereunder even if that party has been advised of or has foreseen the possibility of such damages. (f) Survival. The Parties\u2019 obligations pursuant to this Section 7.05 shall survive the termination, exercise or expiration of the Warrants, the termination of this Agreement and the resignation, replacement or removal of the Warrant Agent. Section 7.06 Successor Warrant Agent. (a) Company to Provide and Maintain Warrant Agent. The Company agrees for the benefit of the Holders that there shall at all times be a Warrant Agent hereunder (which may include the Company) until all the Warrants have been exercised or are no longer exercisable. (b) Resignation and Removal. The Warrant Agent may at any time resign by giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided, however, that such date shall not be less than thirty (30) days after the date on which such notice is given unless the Company otherwise agrees in writing. In the event the transfer agency relationship in effect between the Company and the Warrant Agent terminates, the Warrant Agent will be deemed to have resigned automatically, subject to the second clause of the preceding sentence, and will be discharged from its duties under this Agreement as of the effective date of such termination, and the Company shall be responsible for sending any required notice. The Warrant Agent may be removed at any time by the filing with it of an instrument in writing signed by or on behalf of the Company and specifying such removal and the date when it shall become effective, which date shall not be fewer than thirty (30) days after such notice is given unless the Warrant Agent otherwise agrees in writing. (c) The Company to Appoint Successor. In the event that at any time the Warrant Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or shall commence a voluntary case under the federal bankruptcy laws, as now or hereafter constituted, or under any other applicable federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court shall have been entered in respect of the Warrant Agent in an involuntary case under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or similar law, or a decree or order by a court shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent. Notwithstanding the foregoing, if the Company fails to make such appointment within a period of thirty (30) days after giving notice of such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent, then the incumbent Warrant Agent may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent. Pending appointment of a successor to such Warrant Agent either by the Company or by such court, the duties of the Warrant Agent shall be carried out by the Company. (d) Successor to Expressly Assume Duties. Any successor Warrant Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all the rights and obligations of such predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder; provided that, the predecessor Warrant Agent shall not be required to make any additional expenditure or assume any additional liability in connection with the foregoing. (e) Successor by Merger. Any Person into which the Warrant Agent hereunder may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Warrant Agent shall be a party, or any Person to which the Warrant Agent shall sell or otherwise transfer all or substantially all of its assets and business, shall be the successor Warrant Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the Parties. Section 7.07 Bank Accounts. All funds received by the Warrant Agent under this Agreement that are to be distributed or applied by the Warrant Agent in the performance of services hereunder (the \u201cFunds\u201d) shall be held by the Warrant Agent as agent for the Company and deposited in one or more bank accounts to be maintained by the Warrant Agent in its name as agent for the Company. Until paid pursuant to this Agreement, the Warrant Agent may hold or invest the Funds through such accounts in: (a) funds backed by obligations of, or guaranteed by, the United States of America; (b) debt or commercial paper obligations rated A-1 or P-1 or better by S&P Global Inc. (\u201cS&P\u201d) or Moody\u2019s Investors Service, Inc. (\u201cMoody\u2019s\u201d), respectively; (c) Government and Treasury backed AAA-rated Fixed NAV money market funds that comply with Rule 2a-7 of the Investment Company Act of 1940, as amended; or (d) short term certificates of deposit, bank repurchase agreements, and bank accounts with commercial banks with Tier 1 capital exceeding $1 billion, or with an investment grade rating by S&P (LT Local Issuer Credit Rating), Moody\u2019s (Long Term Rating) and Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.). The Warrant Agent shall have no responsibility or liability for any diminution of the Funds that may result from any deposit or investment made in accordance with this paragraph, including any losses resulting from a default by any bank, financial institution or other third party. The Warrant Agent may from time to time receive interest, dividends or other earnings in connection with such deposits or investments. The Warrant Agent shall not be obligated to pay such interest, dividends or earnings to the Company, any Holder or any other party. Section 7.08 Delivery of Warrant Exercise Price. The Warrant Agent shall forward funds received for Warrant exercises in a given month by the fifth (5th) Business Day of the following month or by one (1) Business Day upon written request of the Company by wire transfer to an account designated by the Company. Section 7.09 Further Assurances. The Company shall perform, acknowledge and deliver or cause to be performed, acknowledged and delivered all such further and other acts, documents, instruments and assurances as may be reasonably required by the Warrant Agent for the carrying out or performing by the Warrant Agent of the provisions of this Agreement. Section 7.10 Force Majeure. Notwithstanding anything to the contrary contained herein, the Company and Warrant Agent will not be liable for any delays or failures in performance to the extent that they result from acts beyond its reasonable control including, without limitation, acts of God, epidemics, pandemics, terrorist acts (including cyberbreaches of any type of a Party\u2019s electronic information systems), shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest. Section 7.11 Confidentiality. The Warrant Agent and the Company agree that all books, records, information and data pertaining to the business of the other party, including inter alia, personal, non-public Holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement including the fees for services set forth in the attached schedule shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law, including, without limitation, pursuant to subpoenas from state, or federal or national government authorities (e.g., in divorce and criminal actions); provided, that for the avoidance of doubt, this Agreement may be filed by the Company with the SEC (without including any fee information)." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b102", + "block_sequence": 102, + "block_sha256": "aea92132c4cbeb263e6ac2bf6c183b5d81737f179f21efdc5863739672f0f470", + "block_type": 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Nothing in this Agreement is intended or shall be construed to confer upon any Person other than the Company, the Warrant Agent and the Holders any right, remedy or claim under or by reason of this Agreement or any part hereof. Section 8.02 Rights of Holders. Holders of unexercised Warrants, as such, have no rights as shareholders and are not entitled to exercise any rights whatsoever as shareholders of the Company, including, but not limited to the rights to (a) receive dividends or other distributions, (b) receive notice of or vote at any meeting of the shareholders, (c) consent to any action of the shareholders, (d) receive notice of any other proceedings of the Company or (e) exercise any preemptive right. Section 8.03 Notices. Any notice or communication between the parties to this Agreement shall be in writing and delivered in Person or mailed by first-class mail with overnight delivery service. Notices sent by mail as described in this section should be addressed as follows: if to the Company: Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1000 Tempe, AZ Attention: Chief Financial Officer and Head of Legal and email to: legal@opendoor.com With a copy to: Latham & Watkins LLP 650 Town Center Drive, 20th Floor Costa Mesa, CA 92626 Attention: Ross McAloon and email to: ross.mcaloon@lw.com and Conv-Ex Advisors Limited 80 Coleman Street London" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b111", + "block_sequence": 111, + "block_sha256": "71ee45a3c0db9a9865f7313dd3372cf60dca6479d46261f3542eb9346e4a04d6", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 111, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "46fdb84dbde6add17b790d0a3671ca3966e1b0082e278ca24b2f79185c600c55", + "heading_path": [ + "EXHIBIT 4.1", + "Exhibit 4.1", + "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", + "ARTICLE V", + "REGISTRATION OF WARRANT SHARES", + "MISCELLANEOUS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s33", + "table": null, + "text": "44" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b112", + "block_sequence": 112, + "block_sha256": "011d5cdd409b8faf73f2b82656d2a7a621ffe616afe248041c2e8018bd1f9ca6", + "block_type": "heading", + "char_count": 8, + "level": 1, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 112, + "char_end": 8, + "char_start": 0, + "fragment_sha256": "b20a7b657a85a2968442bf666179c0e5faf93acc6726ce80844bb53064828945", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s34", + "table": null, + "text": "EC2R 5BJ" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b113", + "block_sequence": 113, + "block_sha256": "f8fd32b212b2a7a0c6c9cfda04680fcb39ae46f2c8e56c0d1f0a60103050c0e6", + "block_type": "paragraph", + "char_count": 327, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 113, + "char_end": 327, + "char_start": 0, + "fragment_sha256": "58693f7a668059bfbed4826225dcc902227322d6ca3b208f754454441d49413b", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s34", + "table": null, + "text": "United Kingdom Email: calculation.agent@conv-ex.com Attention: Calculation Agency Team if to the Warrant Agent: Equiniti Trust Company, LLC, 28 Liberty Street, 53rd floor New York, NY 10005 Email: reorgwarrants@equiniti.com Attention: Corporate Actions/Warrants with a copy to: Conv-Ex Advisors Limited 80 Coleman Street London" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b114", + "block_sequence": 114, + "block_sha256": "011d5cdd409b8faf73f2b82656d2a7a621ffe616afe248041c2e8018bd1f9ca6", + "block_type": "heading", + "char_count": 8, + "level": 1, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 114, + "char_end": 8, + "char_start": 0, + "fragment_sha256": "b20a7b657a85a2968442bf666179c0e5faf93acc6726ce80844bb53064828945", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", + "table": null, + "text": "EC2R 5BJ" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b115", + "block_sequence": 115, + "block_sha256": "e80e518bf7c9738f8d54f6ca2455e200990ef8f3fac58d30175cb2615af13a3f", + "block_type": "paragraph", + "char_count": 1884, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 115, + "char_end": 1884, + "char_start": 0, + "fragment_sha256": "0318206c09ae85b2455a5c5619a3ce8fa20f8fefc32388e9635cee61eb8a4a99", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", + "table": null, + "text": "United Kingdom Email: calculation.agent@conv-ex.com Attention: Calculation Agency Team The Company or the Warrant Agent each by notice to the other may designate in writing additional or different physical addresses or e-mail addresses for subsequent notices or communications. Except for any notice which may be given by issuance of a press release pursuant to the terms of this Agreement, any notice or communication mailed to a Holder shall be mailed to the Holder at the Holder\u2019s address as it appears on the Warrant Register, and shall be sufficiently given if so mailed within the time prescribed. Failure to deliver a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is delivered in the manner provided above, it is duly given when sent, whether or not the addressee receives it. Notwithstanding any other provision of this Agreement, where this Agreement provides for notice of any event to the Holders, such notice shall be sufficiently given to any Holder of a Warrant represented by a Global Warrant if given to the Depositary pursuant to the customary procedures of the Depositary. Except for any notice which provides for a shorter period pursuant to the terms of this Agreement, any notice delivered pursuant to this Agreement that restricts the ability of a Holder to exercise its Warrant not otherwise described in this Agreement shall only be effective at least five (5) Business Days after the delivery of such notice. Notwithstanding anything to the contrary herein, issuance by the Company of a press release in accordance with its customary procedures or as prescribed by this Agreement shall satisfy any requirement to provide public notice or notice in writing or by email under this Agreement (except for notices required to be delivered to the Warrant Agent)." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b116", + "block_sequence": 116, + "block_sha256": "811786ad1ae74adfdd20dd0372abaaebc6246e343aebd01da0bfc4c02bf0106c", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 116, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "a8620861e8ef928e3212a45c2227f31283614c9908ca6228b5bef65ae4b9247e", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", + "table": null, + "text": "45" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b117", + "block_sequence": 117, + "block_sha256": "cc9eb6a34081652a7a48876828fdc2ceb4b86b64c1a2ccede0a1848b286ecab6", + "block_type": "paragraph", + "char_count": 453, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 117, + "char_end": 453, + "char_start": 0, + "fragment_sha256": "5f378c6ba73d9b80e3668fcae5446dad6802133c84419d6616a5b8d276165428", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", + "table": null, + "text": "Section 8.04 Governing Law. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS AGREEMENT, THE WARRANT CERTIFICATES AND THE WARRANTS. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE WARRANT CERTIFICATES AND THE WARRANTS OR THE TRANSACTIONS CONTEMPLATED HEREBY." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b118", + "block_sequence": 118, + "block_sha256": "d876a370dd72ffed83d104a92c3179022b9107e882d97dfecf44b57516b2c764", + "block_type": "paragraph", + "char_count": 6867, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 118, + "char_end": 6867, + "char_start": 0, + "fragment_sha256": "e79abaae7ebda9d9a48c6f7ba50c9d675a60c828d2c1066493fafeb04b5f186f", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", + "table": null, + "text": "Section 8.05 Successors. All agreements of the Company in this Agreement and the Warrant Certificates shall bind its successors. All agreements of the Warrant Agent in this Agreement shall bind its successors. Section 8.06 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument. Counterparts may be delivered via facsimile, PDF, electronic mail (including any electronic signature covered by the U.S. federal ESIGN of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, including docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. Section 8.07 Severability. The provisions of this Agreement are severable, and if any clause or provision shall be held invalid, illegal or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect in that jurisdiction only such clause or provision, or part thereof, and shall not in any manner affect such clause or provision in any other jurisdiction or any other clause or provision of this Agreement in any jurisdiction; provided, however, that if such excluded provision shall materially and adversely affect the rights, immunities, liabilities, duties or obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice to the Company. Section 8.08 Withholding Rights. In the event that the Company, the Warrant Agent or their agents determine that they are obligated to withhold or deduct any tax or other governmental charge under any applicable law on behalf of a Holder (whether upon the distribution of the Warrants under this Agreement, upon any adjustment made pursuant to Article IV, upon exercise or otherwise), the Company, the Warrant Agent or their agents shall be entitled, but not obligated, to deduct and withhold such amount by withholding a portion or all of the Warrants or Warrant Shares otherwise deliverable or by otherwise using any property (including, without limitation, Warrants, Warrant Shares or cash) that would otherwise be delivered to or is owned by such Holder, in each case in such amounts as they deem necessary to meet their withholding obligations, and shall also be entitled, but not obligated, to sell all or a portion of such withheld Warrants, Warrant Shares or such other property of the Holder by public or private sale in such amounts and in such manner as they deem necessary and practicable to pay such taxes and charges. In such case, (i) the Company, the Warrant Agent or their agents, as applicable, shall remit to the applicable tax or other authority the required withholding amount or other charge, and (ii) any withheld amounts (and, if applicable in connection with adjustments pursuant to Article IV, other property) shall be treated for all purposes of this Agreement as having been distributed to the Holders in respect of which such deduction and withholding was made. Each Holder shall submit (and shall at all times be eligible to deliver) to the Company or the Warrant Agent on or prior to the date that it becomes a Holder, a properly executed IRS Form W-9 or appropriate IRS Form W-8, as applicable and any other tax form or certification reasonably requested by the Company or the Warrant Agent to establish an exemption from withholding tax on payments and deliveries hereunder as well as an exemption from, or a reduction in the rate of, U.S. withholding that may apply to any dividend or constructive dividend (e.g., under Section 305(c) of the Internal Revenue Code of 1986, as amended), and, in each case, shall promptly update such form or certification upon reasonable request or if it expires or becomes obsolete or inaccurate in any respect. Notwithstanding any provision to the contrary, the Company, the Warrant Agent or their agents (i) may determine in their reasonable discretion the amount and the timing of any such dividend or constructive dividend and (ii) shall be authorized to take any actions that may be necessary or appropriate to comply with all applicable tax withholding and reporting requirements under applicable law. Section 8.09 Calculations; Calculation Agent. Conv-Ex Advisors Limited shall be the initial Calculation Agent, pursuant and subject to the terms of the Calculation Agency Agreement, dated on or about the date of this Agreement. The Calculation Agent will be responsible for making all calculations and other determinations specified to be made by it under this Agreement and the Warrants, and any calculations and determinations not so specified will be the responsibility of the Company or an Independent Advisor. All calculations and determinations will be made in good faith and, absent manifest error, such calculations and determinations will be final and binding on the Company, the Warrant Agent and the Holders. The Company will provide with reasonable notice a schedule of the calculations and determinations made by the Company, the Calculation Agent or an Independent Advisor, as applicable, to the Warrant Agent. The Warrant Agent is entitled to rely conclusively upon the accuracy of the calculations and determinations made by the Company, the Calculation Agent and any Independent Advisor appointed in accordance with this Agreement without independent verification. Section 8.10 Limited Responsibility of Calculation Agent and Independent Advisor. The Calculation Agent (and any Independent Advisor appointed in connection with the Warrants) is acting exclusively as an agent for, and upon request by, the Company. Neither the Calculation Agent (acting in such capacity) nor any Independent Advisor appointed in connection with the Warrants (acting in such capacity) shall have any relationship of agency or trust with, nor shall the Calculation Agent (acting in such capacity) nor any Independent Advisor appointed as aforesaid shall be liable to nor shall they incur any liability as against, the Holders or the Warrant Agent. Section 8.11 Entire Agreement. This Agreement and the Warrant Certificate contain the entire agreement and understanding among the parties hereto with respect to the subject matter hereof, and supersede all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. Notwithstanding anything to the contrary contained in this Agreement, in the event of an inconsistency between any provision in this Agreement and any provision in a Warrant Certificate, as it may from time to time be amended, the terms of this Agreement shall prevail." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b119", + "block_sequence": 119, + "block_sha256": "25fc0e7096fc653718202dc30b0c580b8ab87eac11a700cba03a7c021bc35b0c", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 119, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "ad40786b8873fdf5e7b609265edb6be3f0489c81bbb00d54da1e373b719ca642", + "heading_path": [ + "EC2R 5BJ" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", + "table": null, + "text": "46" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b120", + "block_sequence": 120, + "block_sha256": "8e64a9474908b4482ce6313cefc70a1e9a8b4609a7b11bd7b3b92812a9049541", + "block_type": "heading", + "char_count": 24, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 120, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "917ac46065b2ef70fbadb5918f6842092be64b6b46facdd983ea8c134f93edfe", + "heading_path": [ + "EC2R 5BJ", + "[Signature pages follow]" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s36", + "table": null, + "text": "[Signature pages follow]" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b121", + "block_sequence": 121, + "block_sha256": "31489056e0916d59fe3add79e63f095af3ffb81604691f21cad442a85c7be617", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 121, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "f4e1935388faf80aecdb7d90b35b83c7378c8fab7abac825dd7ff2038f5bb411", + "heading_path": [ + "EC2R 5BJ", + "[Signature pages follow]" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s36", + "table": null, + "text": "47" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b122", + "block_sequence": 122, + "block_sha256": "a44c6d9606da84d2fce85a893ef19e3a195fb92c16113eff52e42d99f4738bfe", + "block_type": "paragraph", + "char_count": 228, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", + "block_sequence": 122, + "char_end": 228, + "char_start": 0, + "fragment_sha256": "d9339c06be65055df2fdbec0fff8baf028e46556bc7ea2dedc887feea2398848", + "heading_path": [ + "EC2R 5BJ", + "[Signature pages follow]" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s36", + "table": null, + "text": "IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the date first written above. OPENDOOR TECHNOLOGIES INC. 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Each Series [K] [A] [Z] Warrant entitles the holder thereof (the \u201cHolder\u201d), at its option and subject to the provisions contained herein and in the Warrant Agreement referred to below, to purchase from Opendoor Technologies Inc., a corporation organized under the laws of the State of Delaware (including any successor thereto, the \u201cCompany\u201d) a number of shares of common stock, par value of $0.0001 per share, of the Company (the \u201cCommon Stock\u201d) equal to the Series [K] [A] [Z] Warrant Exercise Rate (which is initially one (1) at an initial exercise price of $[9.00][13.00][17.00] per Warrant (the \u201cSeries [K] [A] [Z] Warrant Exercise Price\u201d), payable in cash as described in the Warrant Agreement. This Warrant Certificate shall terminate and become void as of the earlier of (x) the Close of Business, on the Expiration Date for the Series [K] [A] [Z] Warrants or (y) upon the exercise hereof as to all the shares of Common Stock subject hereto. The number of shares issuable upon exercise of the Series [K] [A] [Z] Warrants shall be subject to adjustment from time to time as set forth in the Warrant Agreement. This Warrant Certificate is issued under and in accordance with a Warrant Agreement, dated as of November 21, 2025 (the \u201cWarrant Agreement\u201d), between the Company and Equiniti Trust Company, LLC (the \u201cWarrant Agent,\u201d which term includes any successor Warrant Agent under the Warrant Agreement), and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. The Warrant Agreement is hereby incorporated herein by reference and made a part hereof. Reference is hereby made to the Warrant Agreement for a full statement of the respective rights, limitations of rights, duties and obligations of the Company, the Warrant Agent and the Holders of the Warrants. In the event of an inconsistency between the terms of this Warrant Certificate and the Warrant Agreement, the terms of the Warrant Agreement shall prevail. The Company shall amend any provisions of the Warrant Certificate in compliance with Section 4.05 or 4.06 of the Warrant Agreement. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Warrant Agreement. A copy of the Warrant Agreement may be obtained for inspection by the Holder hereof upon written request to the Warrant Agent, Equiniti Trust Company, LLC, 28 Liberty Street, 53rd floor, New York, NY 10005. Subject to the terms of the Warrant Agreement, the Series [K] [A] [Z] Warrants may be exercised in whole or in part prior to 5:00 p.m., New York City time, on any Business Day (each, an \u201cExercise Date\u201d), in accordance with Section 3.04 of the Warrant Agreement; provided however, that no Warrant shall be exercisable after the Close of Business on the Expiration Date for the Series [K] [A] [Z] Warrants, as it may be adjusted in accordance with the Warrant Agreement. If the date specified as the Exercise Date is not a Business Day, the Series [K] [A] [Z] Warrants will be deemed to be received and exercised on the next succeeding Business Day. If a notice of Exercise of Warrants is received or deemed to be received after the Close of Business on the Expiration Date for the Series [K] [A] [Z] Warrants, the exercise thereof will be null and void and any funds delivered to the Warrant Agent will be returned to the Holder as soon as practicable. In no event will interest accrue on funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. Any otherwise valid exercise of Warrants submitted after any applicable deadline for exercise may, in the sole and absolute discretion of the Company, be accepted and honored. The Company\u2019s decision with respect to any such exercise shall be determinative. Notwithstanding the foregoing, holders of Series [K] [A] [Z] Warrants will be able to exercise their Warrants only if (i) the Common Stock Shelf Registration Statement relating to the Warrant Shares issuable upon conversion of the Series [K] [A] [Z] Warrants is effective and not subject to suspension pursuant to the Warrant Agreement or a Net Exercise Period is in effect for the Series [K] [A] [Z] Warrants and (ii) such securities are qualified for sale or exempt from qualification under the applicable securities laws of any relevant states or other jurisdictions; Upon any partial exercise of the Series [K] [A] [Z] Warrants, there shall be countersigned and issued to the Holder hereof a new Warrant Certificate representing those Warrants which were not exercised. This Warrant Certificate may be exchanged at the office of the Warrant Agent by presenting this Warrant Certificate properly endorsed with a request to exchange this Warrant Certificate for other Warrant Certificates evidencing an equal number of Warrants. No fractional Warrant Shares will be issued upon the exercise of the Warrants. If any fraction of a Warrant Share would be issuable upon the exercise of Series [K] [A] [Z] Warrants, then the Company shall round down the total number of shares of Common Stock to be issued to the relevant Holder to the nearest Whole Number. All Warrant Shares issuable upon exercise of the Series [K] [A] [Z] Warrants shall, upon such issue, be duly and validly issued and fully paid and non-assessable. The Holder in whose name a Warrant Certificate is registered may be deemed and treated by the Company and the Warrant Agent as the absolute owner of the Warrant Certificate for all purposes whatsoever and neither the Company nor the Warrant Agent shall be affected by notice to the contrary. 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Document created using Broadridge PROfile 25.10.1.5333 Copyright 1995 - 2025 Broadridge"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b18", "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b19"], "char_count": 1165, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a68f5d9d579054bcf201497b2432d63c208cdaa04a40d207768ced5081df64b7", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 18, "char_end": 1132, "char_start": 0, "fragment_sha256": "ed32d369b4819aeac6394e12798472d3eb7a224c560022c0a1b3f590a9134d7f", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "table_index": null, "tag_name": "table"}, {"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 19, "char_end": 31, "char_start": 0, "fragment_sha256": "ae918f92bd3da2d9f0298d2e6049aba074e8886703b7ad3436dd39d90bcaa82a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "table_index": null, "tag_name": "span"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Page ARTICLE I DEFINITIONS Section 1.01 Definitions 3 Section 1.02 Other Definitions 9 Section 1.03 Rules of Construction 10 ARTICLE II FORM OF WARRANT; BENEFICIAL INTERESTS Section 2.01 Issuance and Registration 10 Section 2.02 Warrant Certificates 12 Section 2.03 Warrant Register 13 Section 2.04 Transfer and Exchange 13 Section 2.05 Definitive Warrants 15 Section 2.06 Replacement Certificates 16 Section 2.07 Outstanding Warrants 17 Section 2.08 Cancellation 17 Section 2.09 CUSIP Numbers 17 ARTICLE III EXERCISE TERMS Section 3.01 Exercise 17 Section 3.02 Exercise Period 19 Section 3.03 Expiration 21 Section 3.04 Manner of Exercise 21 Section 3.05 Issuance of Warrant Shares 22 Section 3.06 Fractional Warrant Shares 23 Section 3.07 Reservation of Warrant Shares 23 Section 3.08 Net Exercise 24 Section 3.09 Adjustments of Prices 25 ARTICLE IV ADJUSTMENT AND NOTICE PROVISIONS Section 4.01 Adjustments 26 Section 4.02 Calculation of Adjustments; Timing of Issuance of Additional Warrant Shares Upon Certain Adjustments; Adjustment Rules 32 Section 4.03 Effect of Share Exchange Event 32 Section 4.04 Notice of Adjustments 34\n\nPROfilePageNumberReset%Num%2%%%"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b20"], "char_count": 1595, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4a81a6cbf45283e19ae95c1105c73998bf49aa3a8d32a344d7f20d53ad945c0c", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 20, "char_end": 1384, "char_start": 0, "fragment_sha256": "3c060331a23de057a190373b392953a6f4abf235124578ddbc37371cfd392bc5", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "table_index": 0, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p3", "passage_kind": "table", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b20", "text": "| | | |\n| --- | --- | --- |\n| Section 4.05 | Adjustment to Warrant Certificate | 35 |\n| Section 4.06 | Amendments. | 35 |\n| | | |\n| ARTICLE V | | |\n| | | |\n| REGISTRATION OF WARRANT SHARES | | |\n| | | |\n| Section 5.01 | Effectiveness of Registration Statement | 37 |\n| Section 5.02 | Suspension | 37 |\n| Section 5.03 | Expenses | 38 |\n| ARTICLE VI | | |\n| | | |\n| RESERVED | | |\n| | | |\n| ARTICLE VII | | |\n| | | |\n| WARRANT AGENT | | |\n| | | |\n| Section 7.01 | Appointment of Warrant Agent | 38 |\n| Section 7.02 | Rights and Duties of Warrant Agent | 38 |\n| Section 7.03 | Individual Rights of Warrant Agent | 40 |\n| Section 7.04 | Warrant Agent’s Disclaimer | 40 |\n| Section 7.05 | Compensation and Indemnity | 40 |\n| Section 7.06 | Successor Warrant Agent | 41 |\n| Section 7.07 | Bank Accounts | 43 |\n| Section 7.08 | Delivery of Warrant Exercise Price | 43 |\n| Section 7.09 | Further Assurances | 43 |\n| Section 7.10 | Force Majeure | 43 |\n| Section 7.11 | Confidentiality | 44 |\n| | | |\n| ARTICLE VIII | | |\n| | | |\n| MISCELLANEOUS | | |\n| | | |\n| Section 8.01 | Persons Benefiting | 44 |\n| Section 8.02 | Rights of Holders | 44 |\n| Section 8.03 | Notices | 44 |\n| Section 8.04 | Governing Law | 46 |\n| Section 8.05 | Successors | 46 |\n| Section 8.06 | Counterparts | 46 |\n| Section 8.07 | Severability | 46 |\n| Section 8.08 | Withholding Rights | 47 |\n| Section 8.09 | Calculations; Calculation Agent | 47 |\n| Section 8.10 | Limited Responsibility of Calculation Agent and Independent Advisor | 47 |\n| Section 8.11 | Entire Agreement | 47 |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b21"], "char_count": 1495, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "860586c6c087b23306012e75c3b8fedad90a1dc81bed275891bb76e279237297", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 21, "char_end": 1495, "char_start": 0, "fragment_sha256": "7b5062d77fccd63432d92e1596640c972617e6daac7bb1f9ed85c1781884209d", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s15", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "EXHIBIT A Form of Warrant WARRANT AGREEMENT, dated as of November 21, 2025 (this “Agreement”), between Opendoor Technologies, Inc., a corporation incorporated under the laws of the State of Delaware (the “Company”), and Equiniti Trust Company, LLC, New York limited liability trust company, as Warrant Agent (the “Warrant Agent”) (each a “Party” and collectively, the “Parties”). The Board of Directors (as defined below) has declared a dividend distribution (the “Warrant Distribution”) to the holders of record of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and the Other Eligible Recipients (as defined below), as of 5:00 p.m., New York City time, on November 21, 2025 (such date and time, the “Distribution Record Date”), in the form of warrants to purchase shares of Common Stock. The Company desires to issue the warrants on the terms and conditions described herein (the “Warrants”) in satisfaction of the Warrant Distribution. The Warrants will be issued on or about November 21, 2025 (the date of the actual distribution, the “Issue Date”). The Company desires the Warrant Agent to act on behalf of the Company in connection with the issuance, registration, transfer, exchange, exercise, redemption and cancellation of the Warrants as provided herein, and the Warrant Agent is willing to so act. Each Party hereto agrees for the benefit of the other Party and for the equal and ratable benefit of the registered holders of the Warrants (the “Holders”):"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b25"], "char_count": 3847, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "69c9ed161f553f19272e923d4f6488610d910a5b6b3c1d7ee9726bd982e19938", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 25, "char_end": 3847, "char_start": 0, "fragment_sha256": "448ba70defb14307fb83aa18f60196d941aa52b739aebb15633d52463c962326", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 1.01 Definitions. “Affiliate” of any Person means any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person. For purposes hereof, “control” of a Person means the power, direct or indirect, to direct or cause the direction or actions of the management and policies of such Person whether by contract or otherwise. “Board of Directors” means the Board of Directors of the Company or any committee thereof duly authorized to act on behalf of such Board of Directors. “Business Day” means day that is not (i) a Saturday, (ii) a Sunday, or (iii) a day on which banking institutions are allowed by law, regulation or executive order to be closed in the State of New York. “Calculation Agent” means Conv-Ex Advisors Limited, or such successor Person as may be appointed by the Company to serve as calculation agent for the Warrants. “Capital Stock” means (i) with respect to any Person that is a corporation or company, any and all shares, interests, participations or other equivalents (however designated) of capital or capital stock of such Person and (ii) with respect to any Person that is not a corporation or company, any and all partnership or other equity interests of such Person. “Close of Business” means 5:00 p.m., New York City time. “Common Equity” of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person. “Convertible Notes” means the Company’s 7.000% Convertible Senior Notes due 2030. “Daily VWAP” means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed under the heading “Bloomberg VWAP” on Bloomberg page “OPEN AQR” (or, if such page is not available, its equivalent successor page) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day (or, if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such VWAP Trading Day, determined, using a volume-weighted average price method, by an Independent Advisor). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of the regular trading session. The Warrant Agent will not have any duty to determine the Daily VWAP. “Definitive Warrant” means a Warrant Certificate in definitive form that is not deposited with the Depositary or with the Warrant Agent as the Warrant Custodian. “Depositary” means The Depository Trust Company, its nominees, and their respective successors. “Early Expiration Price Condition” for a Series of Warrants means (i) the occurrence of the first 30 consecutive VWAP Trading Day period that includes 20 Qualifying Trading Days (whether or not consecutive) for such Series of Warrants, the first of which 20 Qualifying Trading Days must fall on or after the first VWAP Trading Day immediately following the Issue Date or (ii) in the event of any Alternate Expiration Date Annulment for such Series of Warrants, the occurrence of the first 30 consecutive VWAP Trading Day period that includes 20 Qualifying VWAP Trading Days (whether or not consecutive), the first of which 20 Qualifying Trading Days must fall after the Alternate Expiration Date for such Series of Warrants in respect of which such Alternate Expiration Date Annulment occurred. “Early Expiration Price Condition Date” for a Series of Warrants means the last of the 20 Qualifying Trading Days (whether or not consecutive) to occur in the Reference Period for such Series of Warrants."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b25"], "char_count": 3634, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ab30da3aa640accf48980481d71544f170de8fc21530ac78ad444b69a9e99f80", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 25, "char_end": 7481, "char_start": 3847, "fragment_sha256": "448ba70defb14307fb83aa18f60196d941aa52b739aebb15633d52463c962326", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "“Early Expiration Trigger Price” means (i) for the Series K Warrants, the Series K Early Expiration Trigger Price, (ii) for the Series A Warrants, the Series A Early Expiration Trigger Price and (iii) for the Series Z Warrants, the Series Z Early Expiration Trigger Price. “Ex-Date” means the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of shares of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market. For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Common Stock under a separate ticker symbol or CUSIP number will not be considered “regular way” for this purpose. “Exchange” means the Nasdaq Global Select Market or, if at the relevant time Nasdaq Global Select Market is not the principal U.S. national or regional securities exchange on which the Common Stock is listed, the principal U.S. national or regional securities exchange on which the Common Stock is listed, or if at the relevant time the Common Stock is not listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then admitted for trading. “Exchange Act” means the U.S. Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, as they may be amended from time to time. “Fair Market Value” means, with respect to any security or other property, the fair market value of such security or other property as determined by the Board of Directors, acting in good faith. “Indenture” means the indenture for the Convertible Notes dated as of May 16, 2025 between the Company and U.S. Bank Trust Company, National Association, as trustee. “Independent Advisor” means a nationally recognized independent investment banking firm or financial advisor with appropriate expertise (which may include the person acting as the Calculation Agent or any affiliate thereof) retained by the Company at its own expense. “Last Reported Sale Price” of the Common Stock for any day means the closing sale price per share (or, if no closing sale price is reported, the average of the last bid price and the last ask price per share or, if more than one in either case, the average of the average last bid prices and the average last ask prices per share) of Common Stock on such day as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then admitted for trading. If the Common Stock is not listed on a U.S. national or regional securities exchange or admitted for trading on another market on such day, then the Last Reported Sale Price will be the last quoted bid price per share of Common Stock on such day in the over-the-counter market as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted on such day, then the Last Reported Sale Price will be the average of the mid-point of the last bid price and the last ask price per share of Common Stock on such day from each of at least three nationally recognized independent investment banking firms selected by an Independent Advisor. The Warrant Agent will not have any duty to determine the Last Reported Sale Price."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b25"], "char_count": 3998, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7ecaca318639a1f6b04da0e59f620df672c614149dfb0ce4b47b6b8d432faa04", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 25, "char_end": 11479, "char_start": 7481, "fragment_sha256": "448ba70defb14307fb83aa18f60196d941aa52b739aebb15633d52463c962326", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "“Market Disruption Event” means, with respect to any date, (A) the failure by the principal U.S. national or regional securities exchange on which the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then admitted for trading, to open for trading during its regular trading session (disregarding any after-hours trading) on such date; or (B) the occurrence or existence, for more than one half hour period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date. “Net Exercise Period” means, with respect to any Series of Warrants, any period beginning on, the first Business Day on which the Company’s election to change the exercise method for such Series of Warrants to net exercise is deemed effective in accordance with Section 3.08(a) and ending on, the Business Day immediately preceding the first Business Day on which the Company’s election to change the exercise method for such Series of Warrants to cash exercise is deemed effective in accordance with Section 3.08(a). “Note Conversion Amount” means, in respect of the Convertible Notes, a number of shares of Common Stock equal to the product of (i) the Conversion Rate (as defined in the Indenture) in effect on the Distribution Record Date; and (ii) the aggregate principal amount (expressed in thousands) of Convertible Notes held by the holders of Convertible Notes on such date. “Officer” means, with respect to the Company, the Chief Executive Officer, the President, the Chief Financial Officer, or the Chief Legal Officer and Corporate Secretary of the Company or, with respect to any other Person, the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer, or the Secretary or an Assistant Secretary of such Person. “Other Eligible Recipient” means a holder of record of the Convertible Notes as of the Distribution Record Date. “Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof, or any other entity. “Qualifying Trading Day” for a Series of Warrants means any VWAP Trading Day on which the Daily VWAP is at least equal to the Early Expiration Trigger Price for such Series of Warrants in effect on such VWAP Trading Day. “Record Date” means, for the purposes of Sections 4.01 and 4.02, with respect to any dividend, distribution or other transaction or event in which the holders of the Common Stock have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of the Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). “Reference Period” for a Series of Warrants means the 30 consecutive VWAP Trading Day period referred to in clause (i) or clause (ii) of the definition of Early Expiration Price Condition for such Series of Warrants. “Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange on which the Common Stock is listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal market on which the Common Stock is admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a Business Day."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b25"], "char_count": 3738, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f3c182b986bfbb8c016d2874db8c06f11f95179b09d0739867c7468a9714d0f3", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 25, "char_end": 15217, "char_start": 11479, "fragment_sha256": "448ba70defb14307fb83aa18f60196d941aa52b739aebb15633d52463c962326", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "“SEC” means the U.S. Securities and Exchange Commission. “Securities Act” means the U.S. Securities Act of 1933 and the rules and regulations promulgated thereunder, as they may be amended from time to time. “Series” means a Series of Warrants designated pursuant to this Agreement. “Series A Early Expiration Trigger Price” is initially $15.6000, subject to adjustment concurrently with any adjustment or amendment to the Series A Warrant Exercise Rate or amendment to the Series A Warrant Exercise Price in each case in accordance with Article IV. In any adjustment or amendment to the Series A Warrant Exercise Rate, the adjusted Series A Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series A Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series A Warrant Exercise Rate in effect immediately prior to such adjustment or amendment (as applicable) and the denominator of which is the Series A Warrant Exercise Rate as so adjusted or amended (as applicable), all as determined by the Calculation Agent. In any amendment to the Series A Warrant Exercise Price, the adjusted Series A Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series A Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series A Warrant Exercise Price as so amended and the denominator of which is the Series A Warrant Exercise Price in effect immediately prior to such amendment, all as determined by the Calculation Agent. “Series A Warrant Exercise Rate” means initially one (1) share of Common Stock, subject to adjustment or amendment from time to time in accordance with Article IV. “Series A Warrants” means the Warrants designated as Series A Warrants. “Series K Early Expiration Trigger Price” is initially $10.8000, subject to adjustment concurrently with any adjustment or amendment to the Series K Warrant Exercise Rate or amendment to the Series K Warrant Exercise Price in each case in accordance with Article IV. In any adjustment or amendment to the Series K Warrant Exercise Rate, the adjusted Series K Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series K Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series K Warrant Exercise Rate in effect immediately prior to such adjustment or amendment (as applicable) and the denominator of which is the Series K Warrant Exercise Rate as so adjusted or amended (as applicable), all as determined by the Calculation Agent. In any amendment to the Series K Warrant Exercise Price, the adjusted Series K Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series K Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series K Warrant Exercise Price as so amended and the denominator of which is the Series K Warrant Exercise Price in effect immediately prior to such amendment, all as determined by the Calculation Agent. “Series K Warrant Exercise Rate” means initially one (1) share of Common Stock, subject to adjustment or amendment from time to time in accordance with Article IV. “Series K Warrants” means the Warrants designated as Series K Warrants."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b25"], "char_count": 3833, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "740f04761fe6fcc99c94db7f2f9f328155eacdbe372ab43337a2fa0e5d30c06c", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 25, "char_end": 19050, "char_start": 15217, "fragment_sha256": "448ba70defb14307fb83aa18f60196d941aa52b739aebb15633d52463c962326", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "“Series Z Early Expiration Trigger Price” is initially $20.4000, subject to adjustment concurrently with any adjustment or amendment to the Series Z Warrant Exercise Rate or amendment to the Series Z Warrant Exercise Price in each case in accordance with Article IV. In any adjustment or amendment to the Series Z Warrant Exercise Rate, the adjusted Series Z Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series Z Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series Z Warrant Exercise Rate in effect immediately prior to such adjustment or amendment (as applicable) and the denominator of which is the Series Z Warrant Exercise Rate as so adjusted or amended (as applicable), all as determined by the Calculation Agent. In any amendment to the Series Z Warrant Exercise Price, the adjusted Series Z Early Expiration Trigger Price shall equal the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (i) the Series Z Early Expiration Trigger Price applicable immediately prior to such adjustment and (ii) a fraction, the numerator of which is the Series Z Warrant Exercise Price as so amended and the denominator of which is the Series Z Warrant Exercise Price in effect immediately prior to such amendment, all as determined by the Calculation Agent. “Series Z Warrant Exercise Rate” means initially one (1) share of Common Stock, subject to adjustment or amendment from time to time in accordance with Article IV. “Series Z Warrants” means the Warrants designated as Series Z Warrants. “Trading Day” means any day on which (A) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then admitted for trading; and (B) a Last Reported Sale Price for the Common Stock (or closing sale price for such other security) is available on such securities exchange or market. If the Common Stock is not so listed or admitted for trading, then “Trading Day” means a Business Day. “VWAP Trading Day” means a day on which (A) there is no Market Disruption Event; and (B) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then admitted for trading. If the Common Stock is not so listed or admitted for trading, then “VWAP Trading Day” means a Business Day. “Warrant Certificate” means any Global Warrant or Definitive Warrant issued by the Company under this Agreement. “Warrant Custodian” means the custodian with respect to a Global Warrant (as appointed by the Depositary) or any successor Person thereto. “Warrant Exercise Price” means, (i) for the Series K Warrants, the Series K Warrant Exercise Price, (ii) for the Series A Warrants, the Series A Warrant Exercise Price and (iii) for the Series Z Warrants, the Series Z Warrant Exercise Price. “Warrant Exercise Rate” means, (i) for the Series K Warrants, the Series K Warrant Exercise Rate, (ii) for the Series A Warrants, the Series A Warrant Exercise Rate and (iii) for the Series Z Warrants, the Series Z Warrant Exercise Rate. “Warrant Shares” means the shares of Common Stock issuable on exercise of any Warrants. “Whole Number” means any non-negative number, including zero, that is not a fraction or decimal. Section 1.02 Other Definitions."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b32"], "char_count": 989, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "120bfedd9b3dbe809294a3fca6c8669a5524ab21d6547ff050c48123ee1e17f6", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 32, "char_end": 850, "char_start": 0, "fragment_sha256": "5dd88d7c8ea2151c7a80d64576d7ed53bbdf6b288adc6125b61c2c20891041e8", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": 1, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p10", "passage_kind": "table", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b32", "text": "| | | |\n| --- | --- | --- |\n| Term | | Defined in Section |\n| | | |\n| Additional Alternate Expiration Date Conditions | | 3.02(e) |\n| Agent Members | | 2.01(c)(ii) |\n| Agreement | | Preamble |\n| Alternate Expiration Date | | 3.02(d) |\n| Alternate Expiration Date Annulment | | 3.02(f) |\n| Common Stock | | Recitals |\n| Common Stock Shelf Registration Statement | | 5.01 |\n| Company | | Preamble |\n| Distribution Record Date | | Recitals |\n| Early Expiration Date | | 3.02(b) |\n| Early Expiration Price Condition Notice | | 3.02(c) |\n| Excluded Distribution | | 4.01(c)(i) |\n| Exercise Date | | 3.04(a) |\n| Exercise Notice | | 3.04(a)(ii) |\n| Exercise Period | | 3.02(g) |\n| Exercise Suspension Period | | 5.01 |\n| Expiration Date | | 3.02(b) |\n| Funds | | 7.07 |\n| Global Warrant | | 2.01(a)(iii) |\n| Holders | | Recitals |\n| Initial Warrants | | 2.01(a)(i) |\n| Issue Date | | Recitals |\n| Moody’s | | 7.07 |\n| PDF | | 2.02 |\n| Reference Property | | 4.03 |"} +{"artifact_role": "ex4-01", "block_ids": 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"Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": 2, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p11", "passage_kind": "table", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b34", "text": "| | | |\n| --- | --- | --- |\n| Series A Warrant Exercise Price | | 3.01(a) |\n| Series K Warrant Exercise Price | | 3.01(a) |\n| Series Z Warrant Exercise Price | | 3.01(a) |\n| Scheduled Expiration Date | | 3.02(b) |\n| Share Exchange Event | | 4.03 |\n| S&P | | 7.07 |\n| Spin-Off | | 4.01(c)(ii) |\n| Stock Transfer Agent | | 3.05(a) |\n| Unit of Reference Property | | 4.03 |\n| Valuation Period | | 4.01(c)(ii) |\n| Valuation Trading Day | | 4.01(c)(ii) |\n| Warrant Distribution | | Recitals |\n| Warrant Register | | 2.03 |\n| Warrants | | Recitals |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b35"], "char_count": 927, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "06ab43bd03de76099db501193c7ce467819ad9d09470bba70d09809b3155d956", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 35, "char_end": 927, "char_start": 0, "fragment_sha256": "88ff7e67e114e3e481ab7878affe658c0d6e567768f24210d0663b3e1a3c853f", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "DEFINITIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s17", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 1.03 Rules of Construction. Unless the text or context otherwise requires: (a) a defined term has the meaning assigned to it herein; (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with U.S. generally accepted accounting principles as in effect from time to time; (c) “including” means including, without limitation; (d) words in the singular include the plural and words in the plural include the singular; (e) references to any statute, rule, standard, regulation or other law include a reference to (x) the corresponding rules and regulations and (y) each of them as amended, modified, supplemented, consolidated, replaced or rewritten from time to time; and (f) headings to Articles, Sections and Sub-Sections in this Agreement are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38"], "char_count": 3824, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c639d1add43a6de125c979c93d77d73c0dc351c5dd7b008325368c4e8e72b57e", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 38, "char_end": 3824, "char_start": 0, "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 2.01 Issuance and Registration. (a) Warrants. (i) The Warrants shall initially be issued as follows (the “Initial Warrants”) to: (1) to the registered holders of shares of Common Stock as of the Distribution Record Date, as reflected in the Company’s direct registration system for the Common Stock, (i) one Series K Warrant for every thirty (30) shares of Common Stock held by such registered holder as of the Distribution Record Date, (ii) one Series A Warrant for every thirty (30) shares of Common Stock held by such registered holder as of the Distribution Record Date and (iii) one Series Z Warrant for every thirty (30) shares of Common Stock held by such registered holder as of the Distribution Record Date; (2) to the registered holders of Convertible Notes as of the Distribution Record Date as reflected in the Register (as defined in the Indenture), pursuant to Section 5.05(B) of the Indenture, without such holders having to convert their Convertible Notes, (i) one Series K Warrant for every thirty (30) shares of Common Stock included in the Note Conversion Amount for the aggregate principal amount of Convertible Notes held by such holders on the Distribution Record Date, (ii) one Series A Warrant for every thirty (30) shares of Common Stock included in the Note Conversion Amount for the aggregate principal amount of Convertible Notes held by such holders on the Distribution Record Date, and (iii) one Series Z Warrant for every thirty (30) shares of Common Stock included in the Note Conversion Amount for the aggregate principal amount of Convertible Notes held by such holders on the Distribution Record Date. (ii) The Warrant Agent shall allocate the Warrants to, and register the Warrants in the names of, such registered holders in accordance with the Company’s direct registration system or the Warrant Agent’s other book-entry procedures pursuant to an allocation schedule approved by the Company, and in the case of the registered holders of Convertible Notes, in cooperation with the trustee under the Indenture. Any Warrants registered through the Company’s direct registration system or the Warrant Agent’s other book-entry procedures shall be issued in uncertificated form and shall not be represented by Warrant Certificates. (iii) Notwithstanding the foregoing, some or all of the Warrants may, at initial issuance or any time thereafter, be represented by one or more permanent Global Warrants, in definitive, fully registered form with the global securities legend set forth in Exhibit A hereto (each, a “Global Warrant”). Any such Global Warrant shall be deposited on behalf of the relevant Holders with the Warrant Agent, as custodian for the Depositary (or with such other custodian as the Depositary may direct), registered in the name of the Depositary or a nominee of the Depositary, and duly executed by the Company and countersigned by the Warrant Agent as hereinafter provided. (iv) The Company may, subject to the provisions of this Agreement, issue additional Warrants of one or more Series with the same terms as the Initial Warrants for such Series, which additional Warrants will, subject to the foregoing, be considered to be part of the same Series of, and rank equally and ratably with all other, Warrants of such Series issued under this Agreement; provided, however, that if any such additional Warrants of such Series are not fungible, for federal securities laws purposes, with other Warrants of such Series issued under this Agreement and assigned a CUSIP number, then such additional Warrants of such Series will be identified by a separate CUSIP number or by no CUSIP number. All Warrants issued pursuant to this Agreement will be equally and ratably entitled to the benefits of this Agreement, without preference or priority. (b) Definitive Warrants."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38"], "char_count": 3916, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "09e58e1e297c39f304c68329c75582b1c080b4b1e7ef32fe951ee45dba4942a3", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 38, "char_end": 7740, "char_start": 3824, "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Holders of Warrants or holders of beneficial interests in any Global Warrant will not be entitled to physical delivery of Definitive Warrants (except as provided in Section 2.05). (c) Procedures for Global Warrants. This Section 2.01(c) shall apply only to any Global Warrant deposited with or on behalf of the Depositary. (i) If any Warrants are to be represented by a Global Warrant, then the Company shall execute and the Warrant Agent shall, in accordance with Section 2.02, countersign and deliver initially one or more Global Warrants that (a) shall be registered in the name of the Depositary for such Global Warrant or Global Warrants or of the nominee of the Depositary and (b) shall be delivered by the Warrant Agent to the Depositary or pursuant to the Depositary’s instructions or held by the Warrant Agent as custodian for the Depositary. (ii) Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Agreement with respect to any Global Warrant held on their behalf by the Depositary or by the Warrant Agent as the custodian of the Depositary or under such Global Warrant, and the Depositary may be treated by the Company, the Warrant Agent and any agent of the Company or the Warrant Agent as the absolute owner of such Global Warrant for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Warrant Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary, or impair, as between the Depositary and its Agent Members, the operation of customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Warrant. (d) No Fractional Warrants. The Company shall not issue fractional Warrants or distribute Warrant Certificates which evidence fractional Warrants. If any fractional Warrant would otherwise be required to be issued or distributed pursuant to the Warrant Distribution, then the Company or the Warrant Agent, as applicable, to the extent reasonably practicable, shall first aggregate the total number of Warrants to be issued to the relevant holder of Common Stock or Other Eligible Recipient and then round down the total number to the nearest Whole Number and no cash or other adjustment will be made in lieu of the fraction of a Warrant so rounded down. Section 2.02 Warrant Certificates. If any Warrant Certificates are issued hereunder, then at least one Officer shall sign such Warrant Certificates for the Company by manual, facsimile or portable document format (“PDF”) signature or by means of other electronic transmission. (a) If an Officer whose signature is on a Warrant Certificate no longer holds that office at the time the Warrant Agent countersigns the Warrant Certificate, the Warrants evidenced by such Warrant Certificate shall be valid, nevertheless. (b) At any time and from time to time after the execution of this Agreement, the Warrant Agent shall, upon receipt of a written order of the Company signed by an Officer of the Company, countersign, either by manual, facsimile, PDF signature or by means of other electronic transmission, and issue a Warrant Certificate evidencing the number of Warrants specified in such order. Such order shall specify the number of Warrants to be evidenced on the Warrant Certificate to be countersigned, the date on which such Warrant Certificate is to be countersigned, whether such Warrant Certificate is to be a Global Warrant or a Definitive Warrant, and the number of Warrants then authorized. Each Warrant shall be dated as of the date of its countersignature. (c) The Warrants (whether or not evidenced by a Warrant Certificate) shall not be valid until registered on the Warrant Register. Section 2.03 Warrant Register. The Warrants shall be issued in registered form only."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38"], "char_count": 3701, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fc09563279720d0a434dd3649237ba68ff4ecf45c25faa2aa72d8046ca8f8e52", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 38, "char_end": 11441, "char_start": 7740, "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Upon the receipt of all relevant information from the Company or its agents, the Warrant Agent shall keep a register (the “Warrant Register”) of the Warrants (and Warrant Certificates, if applicable) and of their transfer and exchange. The Warrant Register shall show the names and addresses of the respective Holders and the date and number of Warrants owned by such Holders (as evidenced on the face of each of the Warrant Certificates, if applicable). The Holder of any Global Warrant will be the Depositary or a nominee in whose name the Global Warrant is registered. The Company and the Warrant Agent may deem and treat the Person in whose name the Warrants are registered in the Warrant Register as the absolute owner of such Warrants for all purposes and regardless of any notice to the contrary. Section 2.04 Transfer and Exchange. (a) Transfer and Exchange of Warrants. (i) The transfer and exchange of Warrants or beneficial interests therein shall be effected through the Company’s direct registration system or the Warrant Agent’s other book-entry procedures and, in the case of any Global Warrants, the Depositary, in each case in accordance with this Agreement and the procedures of the Warrant Agent and, as applicable, the Depositary therefor. The Company may instruct the Warrant Agent from time to time that Warrants held by a member of the Board of Directors, an Officer of the Company or an Affiliate of the Company are subject to restrictions on transfers or exchanges related to compliance with applicable securities laws, in which case the Warrant Agent shall not permit the transfer or exchange of such Warrants without the consent of the Company. (ii) Except as set forth in Section 2.04(a)(iii), a Global Warrant may only be transferred as a whole, and not in part, and only by (x) the Depositary to a nominee of the Depositary, (y) a nominee of the Depositary to the Depositary or another nominee of the Depositary or (z) the Depositary or any such nominee to a successor Depositary or its nominee. (iii) In the event that a Global Warrant is exchanged and transferred for Definitive Warrants pursuant to Section 2.05, such Warrants may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.04 and such other procedures as may from time to time be adopted by the Company. (iv) The Warrant Agent may register the transfer of any Definitive Warrant upon written request of the Holder delivered to the Warrant Agent and surrender of the Warrant Certificates to be transferred, split up, combined or exchanged, together with the form of assignment and certificate duly executed and properly completed and such other documentation that the Company or the Warrant Agent may reasonably request, at the office of the Warrant Agent designated for such purpose. Any requested transfer of Warrants shall be accompanied by reasonable evidence of authority that may be required by the Warrant Agent of the party making such request, which evidence shall include a signature guarantee from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association. Upon any such transfer, one or more new Definitive Warrants representing an equal aggregate number of Definitive Warrants shall be issued and the transferred certificate shall be canceled. (b) Cancellation or Adjustment of Global Warrant. At such time as all beneficial interests in a Global Warrant have been exchanged for Definitive Warrants, redeemed, repurchased or canceled, such Global Warrant shall be returned to the Depositary for cancellation or retained and canceled by the Warrant Agent."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38"], "char_count": 3334, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "34cbd6223d40324532d99fab13fdc7f4fb2d8fae39c5843fb0e1b50943669a02", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 38, "char_end": 14775, "char_start": 11441, "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "At any time prior to such cancellation, if any beneficial interest in a Global Warrant is exchanged for Definitive Warrants, repurchased or canceled, the number of Warrants represented by such Global Warrant shall be reduced and an adjustment shall be made on the books and records of the Warrant Agent (if it is then the Warrant Custodian for such Global Warrant) with respect to such Global Warrant, by the Warrant Agent, to reflect such reduction. (c) Obligations with Respect to Transfers and Exchanges of Warrants. (i) To permit registrations of transfers and exchanges, the Company shall execute and the Warrant Agent shall countersign, by either manual, facsimile or PDF signature or by means of other electronic transmission, any Global Warrants and Definitive Warrants, if applicable, as required subject to the provisions of Section 2.02 and this Section 2.04. (ii) No service charge shall be made for any registration of transfer or exchange. Any tax, assessments, or similar governmental charge payable in connection with any registration of transfer or exchange shall be paid by the Holder. (iii) The Company may require payment from the Holder of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination or exchange of Warrants. The Warrant Agent shall not have any duty or obligation to take any action under any section of this Agreement or any Warrant that requires the payment of taxes and/or charges unless and until the Warrant Agent is reasonably satisfied that all such payments have been made. (iv) Prior to the due presentation for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the Person in whose name such Warrant is registered as the absolute owner of such Warrant, and neither the Company nor the Warrant Agent shall be affected by notice to the contrary. (v) All Warrants issued upon any transfer or exchange pursuant to the terms of this Agreement shall be valid obligations of the Company, entitled to the same benefits under this Agreement as the Warrants surrendered upon such transfer or exchange. (d) No Obligation of the Warrant Agent. The Warrant Agent shall have no responsibility or obligation to any beneficial owner of a Global Warrant, an Agent Member or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Warrants or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice, or the payment of any amount, under or with respect to such Warrants. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Warrants shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of a Global Warrant). The rights of beneficial owners in any Global Warrant shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Warrant Agent may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38"], "char_count": 3805, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c9667f2b6563edba5e09e42cefdb66c5034f507979e3a06d1e2fb1d1f03fdd30", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 38, "char_end": 18580, "char_start": 14775, "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p17", "passage_kind": "narrative", "passage_sequence": 17, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 2.05 Definitive Warrants. (a) Subject to Section 2.05(e), beneficial interests in a Global Warrant deposited with the Depositary or with the Warrant Agent as custodian shall be transferred to the beneficial owners thereof in the form of Definitive Warrants in a number equal to the number of Warrants represented by such Global Warrant, in exchange for such Global Warrant, only if such transfer complies with Section 2.04 and (i) the Depositary notifies the Company that it is unwilling or unable to continue as depositary for such Global Warrant or if at any time the Depositary ceases to be a “clearing agency” registered under the Exchange Act and, in each such case, a successor depositary is not appointed by the Company within ninety (90) days of such notice, or (ii) the Company, in its sole discretion, notifies the Warrant Agent in writing that it elects to cause the issuance of Definitive Warrants under this Agreement. In such event, the transfer, exchange or exercise of the Warrants shall be conducted in accordance with the customary procedures of the Warrant Agent. (b) Any Global Warrant that is transferable to the beneficial owners thereof pursuant to this Section 2.05 shall be surrendered by the Depositary to the Warrant Agent, to be so transferred, in whole or from time to time in part, without charge, and the Warrant Agent shall countersign, by either manual, facsimile or PDF signature or by means of other electronic transmission, and deliver to each beneficial owner in the name of such beneficial owner, upon such transfer of each portion of such Global Warrant, Definitive Warrants evidencing a number of Warrants equivalent to such beneficial owner’s beneficial interest in such Global Warrant. The Warrant Agent shall register such transfer in the Warrant Register, and upon such transfer the surrendered Global Warrant shall be canceled by the Warrant Agent. Any such Definitive Warrants shall bear such restrictive legends as the Company may instruct. (c) Subject to the provisions of Section 2.05(b), the registered Holder of a Global Warrant may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that such Holder is entitled to take under this Agreement or the Warrants. (d) In the event of the occurrence of either of the events specified in Section 2.05(a), the Company will promptly make available to the Warrant Agent a reasonable supply of Definitive Warrants in definitive, fully registered form. (e) The Depositary shall notify the Warrant Agent of the names and the amounts in which the Definitive Warrants will be issued. Neither the Company nor the Warrant Agent will be liable or responsible for any names or any amounts provided by the Depositary. (f) Notwithstanding the foregoing, in lieu of issuing a Definitive Warrant to any Person, the Warrant Agent may, upon the Company’s instruction, register Warrants in the name of such Person through the Company’s direct registration system or the Warrant Agent’s other book-entry procedures. Section 2.06 Replacement Certificates. If a mutilated Warrant Certificate is surrendered to the Warrant Agent or if the Holder of a Warrant Certificate provides proof reasonably satisfactory to the Company and the Warrant Agent that the Warrant Certificate has been lost, destroyed or wrongfully taken, the Company shall issue and the Warrant Agent shall countersign, by either manual, facsimile or PDF signature or by means of other electronic transmission, a replacement Warrant Certificate representing an equivalent number of Warrants, if the reasonable requirements of the Warrant Agent are met and absent notice to the Warrant Agent that such certificates have been acquired by a bona fide purchaser."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b38"], "char_count": 2542, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "77515c68a17a429737ee7338071f969ea123a339514d014d32e536ee85d60817", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 38, "char_end": 21122, "char_start": 18580, "fragment_sha256": "cab40523aa5c76bf6910e2bde59d73c73f421030c7b1d667ace3cc5ee8eae7d4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "FORM OF WARRANT; BENEFICIAL INTERESTS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p18", "passage_kind": "narrative", "passage_sequence": 18, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s19", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Such Holder shall furnish an open penalty surety bond sufficient in the judgment of the Company and the Warrant Agent to protect the Company and the Warrant Agent from any loss that either of them may suffer if a Warrant Certificate is replaced. The Warrant Agent may, at its option, issue replacement Warrants for mutilated certificates upon presentation thereof without such indemnity. The Company and the Warrant Agent may charge the Holder for their respective expenses in replacing a Warrant Certificate. Every replacement Warrant Certificate evidences an additional obligation of the Company. Section 2.07 Outstanding Warrants. All Warrants evidenced as outstanding in the Warrant Register shall be deemed to be outstanding for purposes of this Agreement (which, in the case of Warrants represented by Warrant Certificates, shall include all Warrant Certificates authenticated by the Warrant Agent excluding those canceled by it and those delivered to it for cancellation). A Warrant does not cease to be outstanding because an Affiliate of the Company holds the Warrant. A Warrant ceases to be outstanding if the Company holds the Warrant. If a Warrant Certificate is replaced pursuant to Section 2.06, the Warrants evidenced thereby cease to be outstanding unless the Warrant Agent and the Company receive proof satisfactory to them that the replaced Warrant Certificate is held by a protected purchaser (as defined for purposes of the Delaware Uniform Commercial Code). Section 2.08 Cancellation. In the event the Company shall purchase or otherwise acquire Definitive Warrants, the Company may, at its option, deliver the same to the Warrant Agent for cancellation. The Warrant Agent and no one else shall cancel all Warrant Certificates surrendered for transfer, exchange, replacement, exercise or cancellation. The Company may not issue new Warrant Certificates to replace Warrant Certificates to the extent they evidence Warrants which have been exercised or Warrants which the Company has canceled. Section 2.09 CUSIP Numbers. The Company has assigned a “CUSIP” number in connection with the issuance of each Series of Warrants and the Warrant Agent may use such “CUSIP” number in notices as a convenience to the Holders; provided, however, that any such notice shall state that no representation is made as to the correctness of such numbers either as printed on the Warrant Certificates or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Warrant Certificates."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 3929, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cdc6db8463f788afdc1f4b2e6a9d887a1937b643147e961c773cdd2f155e53e8", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 3929, "char_start": 0, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p19", "passage_kind": "narrative", "passage_sequence": 19, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 3.01 Exercise. (a) Each Series K Warrant shall entitle the Holder thereof to purchase, during the Exercise Period for the Series K Warrants, for each Series K Warrant evidenced thereby, (i) a number of shares of Common Stock equal to the Series K Warrant Exercise Rate in effect immediately prior to the Close of Business on the relevant Exercise Date, subject to Section 3.06, at an exercise price equal to $9.00 per Series K Warrant (subject to amendment from time to time in accordance with Section 4.06, the “Series K Warrant Exercise Price”) or (ii) if the relevant Exercise Date falls in a Net Exercise Period with respect to the Series K Warrants, a number of shares of Common Stock determined as set forth in Section 3.08 (and notwithstanding anything to the contrary in this Agreement, the Holder will not be required to pay the Series K Warrant Exercise Price in respect of such Series K Warrant). Each Series A Warrant shall entitle the Holder thereof to purchase, during the Exercise Period for the Series A Warrants, for each Series A Warrant evidenced thereby, (i) a number of shares of Common Stock equal to the Series A Warrant Exercise Rate in effect immediately prior to the Close of Business on the relevant Exercise Date, subject to Section 3.06, at an exercise price equal to $13.00 per Series A Warrant (subject to amendment from time to time in accordance with Section 4.06, the “Series A Warrant Exercise Price”) or (ii) if the relevant Exercise Date falls in a Net Exercise Period with respect to the Series A Warrants, a number of shares of Common Stock determined as set forth in Section 3.08 (and notwithstanding anything to the contrary in this Agreement, the Holder will not be required to pay the Series A Warrant Exercise Price in respect of such Series A Warrant). Each Series Z Warrant shall entitle the Holder thereof to purchase, during the Exercise Period for the Series Z Warrants, for each Series Z Warrant evidenced thereby, (i) a number of shares of Common Stock equal to the Series Z Warrant Exercise Rate in effect immediately prior to the Close of Business on the relevant Exercise Date, subject to Section 3.06, at an exercise price equal to $17.00 per Series Z Warrant (subject to amendment from time to time in accordance with Section 4.06, the “Series Z Warrant Exercise Price”) or (ii) if the relevant Exercise Date falls in a Net Exercise Period with respect to the Series Z Warrants, a number of shares of Common Stock determined as set forth in Section 3.08 (and notwithstanding anything to the contrary in this Agreement, the Holder will not be required to pay the Series Z Warrant Exercise Price in respect of such Series Z Warrant). Holders may exercise all or a portion of their Warrants or choose not to exercise any Warrants at all, or may otherwise sell or transfer their Warrants, in each case, in their sole and absolute discretion. (b) The applicable Warrant Exercise Price must be paid in cash except as provided in Section 3.08. (c) Subject (in the case of exercise of a Warrant of a Series for which a Net Exercise Period is in effect) to Section 3.08(c), the number of shares of Common Stock issuable in respect of any exercise of Warrants represented by a Global Warrant shall be determined by the Depositary (or, as may be agreed from time to time between the Calculation Agent and the Company, the Calculation Agent) in accordance with this Agreement; and provided further, however, that in the event the Company disagrees in good faith with any such calculation, the Company may make such calculation in good faith or appoint an Independent Advisor to make such calculation, and the Company’s (or, as the case may be, such Independent Advisor’s) calculation shall be determinative and final and binding on the Depositary, the Warrant Agent, the Calculation Agent, the Holders and (where such calculation is made by an Independent Advisor) the Company."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 1715, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bbb5d9fcdd4db446278df3e8ee1d4a21ef732bf49e12f65789794dc348bab681", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 5644, "char_start": 3929, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p20", "passage_kind": "narrative", "passage_sequence": 20, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Subject (in the case of exercise of a Warrant of a Series for which a Net Exercise Period is in effect) to Section 3.08(c), the number of shares of Common Stock issuable in respect of any exercise of Warrants represented through the Company’s direct registration system or the Warrant Agent’s other book-entry procedures shall be determined by the Warrant Agent (or, as may be agreed from time to time between the Calculation Agent and the Company, the Calculation Agent) in accordance with this Agreement; and provided further, however, that in the event the Company disagrees in good faith with any such calculation, the Company may make such calculation in good faith or appoint an Independent Advisor to make such calculation, and the Company’s (or, as the case may be, such Independent Advisor’s) calculation shall be determinative and final and binding on the Warrant Agent, the Calculation Agent, the Holders and (where such calculation is made by an Independent Advisor) the Company. Section 3.02 Exercise Period. (a) Subject to the terms and conditions set forth herein (including without limitation Section 3.04 and Section 5), each Series of Warrants shall be exercisable at any time and from time to time on or after the Issue Date until the Close of Business on the Expiration Date for such Series of Warrants. Notwithstanding the foregoing, the Holders will be able to exercise the Warrants of a Series only if (i) the Exercise Date does not fall in an Exercise Suspension Period and (ii) the Warrant Shares issuable upon exercise of such Series are qualified for sale or exempt from qualification under the applicable securities laws of the states or other jurisdictions in which such Holders reside."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 3451, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ded47b528bdedd0ca0e4126fc85ccc4c44525ddbbf290e894108ae3c4c8fc00a", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 9095, "char_start": 5644, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p21", "passage_kind": "narrative", "passage_sequence": 21, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Company may instruct the Warrant Agent in writing from time to time that Warrants held by a member of the Board of Directors, an Officer of the Company or an Affiliate of the Company are subject to further restrictions on exercise related to compliance with applicable securities laws, in which case the Warrant Agent shall not permit the exercise of such Warrants without the written consent of the Company. (b) Subject to the terms and conditions set forth herein (including Section 3.04, Section 4.06 and Section 5), each Series of Warrants will expire and cease to be exercisable at the Close of Business on the date (the “Expiration Date” for such Series of the Warrants) which is (i) November 20, 2026 (“Scheduled Expiration Date”) or (ii) if the Early Expiration Price Condition occurs with respect to such Series of Warrants, the Early Expiration Date for such Series of Warrants, where “Early Expiration Date” means, for any Series of the Warrants, either (x) the first Scheduled Trading Day (or, if a Net Exercise Period is in effect for such Series of Warrants, the second Scheduled Trading Day) immediately following the Early Expiration Price Condition Date for such Series of Warrants (subject to Section 3.02(h)) or (y) (if applicable) the Alternate Expiration Date for such Series of Warrants set pursuant to Section 3.02(d). (c) If the Early Expiration Price Condition Date for a Series of Warrants occurs, the Company will make a public announcement of such occurrence by issuance of a press release (the “Early Expiration Price Condition Notice” for such Series of Warrants) (and will give notice thereof to the Warrant Agent and the Calculation Agent) as promptly as practicable after close of the regular trading session of the Exchange (disregarding any after-hours trading) on the Early Expiration Price Condition Date for such Series of Warrants setting forth the Early Expiration Date (which may be an Alternate Expiration Date set pursuant to Section 3.02(d)) for such Series of Warrants. (d) The Company may, in its sole discretion, elect to set the Early Expiration Date for a Series of Warrants on any Scheduled Trading Day falling at any time after the first Scheduled Trading Day (or, if a Net Exercise Period is in effect for such Series of Warrants, the second Scheduled Trading Day) immediately following the Early Expiration Price Condition Date for such Series of Warrants (any such date, as such date may be further adjusted pursuant to Section 3.02(e), an “Alternate Expiration Date” for such Series of Warrants). Any such Alternate Expiration Date shall be specified in the Early Expiration Price Condition Notice for such Series of Warrants, provided that such Alternate Expiration Date may be subsequently adjusted pursuant to Section 3.02(e). As a condition to making such election to set an Alternate Expiration Date for a Series of Warrants (except as set forth in Section 3.02(h)), the Company shall have, no later than the fifth (5th) Qualifying Trading Day (whether or not consecutive) for such Series of Warrants occurring in any twenty (20) consecutive VWAP Trading Day period, made a public announcement by issuance of a press release (with notice thereof to the Warrant Agent and the Calculation Agent) that the Company is reserving the right to set an Alternate Expiration Date for such Series of Warrants in the event the Early Expiration Price Condition for such Series of Warrants does occur."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 2193, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ce608103b090a134e41638dd0ab76ae32f47d80b7088e493032abbbd62c6b407", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 11288, "char_start": 9095, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p22", "passage_kind": "narrative", "passage_sequence": 22, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "For the avoidance of doubt, such election by the Company to set an Alternative Expiration Date for a Series of Warrants shall be deemed effective irrespective of whether the twenty (20) consecutive VWAP Trading Day period referred to in the immediately preceding sentence overlaps or not in any part with the Reference Period that ended on the Early Expiration Price Condition Date for such Series of Warrants. (e) If the Company sets an Alternate Expiration Date for a Series of Warrants, the expiration of such Series of Warrants on such Alternate Expiration Date shall be conditioned on (A) each of the two (2) Scheduled Trading Days immediately preceding such Alternate Expiration Date being a VWAP Trading Day and (B) the Daily VWAP being, on each of such two (2) VWAP Trading Days immediately preceding such Alternate Expiration Date, at least equal to the quotient obtained by dividing the Warrant Exercise Price for such Series of Warrants by the Warrant Exercise Rate for such Series of Warrants on such VWAP Trading Day ((A) and (B) above being the “Additional Alternate Expiration Date Conditions” for such Series of Warrants in respect of such Alternate Expiration Date). As promptly as practicable after the scheduled close of the regular trading session of the Exchange (disregarding any after-hours trading) on the Scheduled Trading Day immediately preceding the Alternate Expiration Date for a Series of Warrants, the Company will make a public announcement by issuance of a press release (and will give notice thereof to the Warrant Agent and the Calculation Agent) as to whether the Additional Alternate Expiration Date Conditions for such Series of Warrants are met. Whether or not the Additional Alternate Expiration Date Conditions for such Series of Warrants are satisfied, the Company may, in its sole discretion, in any such press release, postpone such Alternate Expiration Date for such Series of Warrants to a new Alternate Expiration Date (which, for the avoidance of doubt, shall be conditional to the Additional Alternate Expiration Date Conditions for such Series of Warrants in respect of the Alternate Expiration Date for such Series of Warrants so postponed)."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 2176, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f3b2e645bcbe37188ee76f0c6447bba97bd126135dd7cea7494d6dda738dbef5", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 13464, "char_start": 11288, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Company may, in its sole discretion, by making a public announcement by issuance of a press release (and giving notice thereof to the Warrant Agent and the Calculation Agent), postpone further (on one or more occasions) such Alternate Expiration Date for such Series of Warrants to a new Alternate Expiration Date (which, for the avoidance of doubt, shall be conditional to the Additional Alternate Expiration Date Conditions for such Series of Warrants in respect of the Alternate Expiration Date so postponed). (f) If (i) the Additional Alternate Expiration Date Conditions for a Series of Warrants are not satisfied in respect of any Alternate Expiration Date for such Series of Warrants and (ii) the Company does not postpone such Alternate Expiration Date for such Series of Warrants as set forth in Section 3.02(e) (an “Alternate Expiration Date Annulment” in respect of such Alternate Expiration Date), the Expiration Date for such Series of Warrants will remain the Scheduled Expiration Date unless another Early Expiration Price Condition Date subsequently occurs (subject to the terms and conditions set forth herein (including without limitation Section 3.04 and Section 5)). (g) The “Exercise Period” for a Series of Warrants is the period during which the Warrants of such Series are exercisable in accordance with the terms and conditions set forth herein (including this Section 3.02, Section 4.06 and Section 5). (h) In the event that a Market Disruption Event occurs on the first Scheduled Trading Day (or, if a Net Exercise Period is in effect for such Series of Warrants, the first or second Scheduled Trading Day) immediately following the Early Expiration Price Condition Date for a Series of Warrants, then the Company may set an Alternative Expiration Date for such Series of Warrants whether or not it has complied with the condition described in the second sentence of Section 3.02(d) with respect to such Series of Warrants. Section 3.03 Expiration. A Warrant of a Series shall terminate and become void as of the earlier of (i) the Close of Business on the Expiration Date for such Series of Warrants and (ii) the time such Warrant is exercised."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 3797, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9564f7b330bef2a8a788f873d7e311a234038d2c33061413cb3ead0395231151", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 17261, "char_start": 13464, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p24", "passage_kind": "narrative", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 3.04 Manner of Exercise. (a) Subject to Sections 3.02(b) and 3.03, Warrants may be exercised by a Holder in full or in part, on any Business Day (each, an “Exercise Date”) falling in the Exercise Period for such Series of Warrants, by (i) (x) delivery to the Warrant Agent at its office of the related Warrant Certificate, in the case of Warrants issued in certificated form, (y) delivery of the Warrant through the procedures of the Warrant Agent in the case of Warrants represented through the Company’s direct registration system or the Warrant Agent’s other book-entry procedures or (z) delivery of the Warrant through the systems of the Depositary, in the case of Global Warrants; (ii) electronic delivery to the Warrant Agent of an election to purchase Warrant Shares in the applicable form included in Exhibit A (an “Exercise Notice”), duly completed and signed by the Holder; and (iii) unless a Net Exercise Period is in effect for the applicable Series of Warrants, payment in United States dollars by check payable to the order of the Company or the Warrant Agent or by wire transfer to the Company or the Warrant Agent of immediately available funds to an account of or for the benefit of the Company (as designated by the Company and available upon request from the Warrant Agent) in an amount equal to the applicable Warrant Exercise Price multiplied by the number of the Series of Warrants so exercised; provided that if any of (i), (ii) or (iii) above has occurred on or after the Close of Business on any day, it shall instead be deemed to have occurred on the immediately following Business Day (subject to Sections 3.04(c) and 3.04(d)); and provided, further, that the Exercise Date shall be the first Business Day on which all of (i), (ii) and (iii) above have occurred, as determined by the Company in consultation with the Warrant Agent. Notwithstanding anything to the contrary set forth herein, the Company may, in its sole discretion, from time to time offer the Holders or their brokers the right to deliver a notice of guaranteed delivery on the Exercise Date with respect to the Warrants in order to satisfy the delivery requirements of clause (i) above as of the Exercise Date. (b) In the case of a Global Warrant, any Person with a beneficial interest in such Global Warrant shall effect compliance with the requirements in Section 3.04(a)(i), (ii) and (iii) above through the relevant Agent Member in accordance with the procedures of the Depositary. (c) Subject to Section 3.04(d), if the purported Exercise Date of any Warrants is or is deemed to be after the Close of Business on the Expiration Date for the applicable Series of Warrants, the exercise thereof will be null and void and any funds delivered to the Warrant Agent or the Company will be returned to the Holder as soon as practicable. In no event will interest accrue on Funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. (d) Notwithstanding anything to the contrary herein, any otherwise valid exercise of a Warrant submitted after any applicable deadline for exercise may, in the sole and absolute discretion of the Company, be accepted and honored. The Company’s decision with respect to any such exercise shall be determinative. (e) In the case of a Global Warrant, whenever some but not all of the Warrants represented by such Global Warrant are exercised in accordance with the terms thereof and of this Agreement, such Global Warrant shall be surrendered by the Holder to the Warrant Agent, which shall cause an adjustment to be made to such Global Warrant so that the number of Warrants represented thereby will be equal to the number of Warrants theretofore represented by such Global Warrant less the number of Warrants then exercised."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 3396, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "af2748ebab352b768c04cc004c33daf6dc67bff80871472739b1aedb9d30013d", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 20657, "char_start": 17261, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Warrant Agent shall thereafter promptly return such Global Warrant to the Holder or its nominee or custodian. (f) In the case of a Definitive Warrant or book-entry Warrant, whenever some but not all of the Warrants represented by such Definitive Warrant or book-entry Warrant are exercised in accordance with the terms thereof and of this Agreement, the Holder shall be entitled, at the request of the Holder, to receive from the Company within a reasonable time, and in any event not exceeding ten (10) Business Days, a new Definitive Warrant or book-entry statement in substantially identical form for the number of Warrants equal to the number of Warrants theretofore represented by such Definitive Warrant or book-entry statement less the number of Warrants then exercised. (g) If a Warrant Certificate shall have been exercised in full, the Warrant Agent shall promptly cancel such certificate following its receipt from the Holder or the Depositary, as applicable. (h) Unless a Net Exercise Period is in effect for a Series of Warrants, if a Common Stock Shelf Registration Statement is not effective at any time or from time to time for any reason with respect to the Warrant Shares issuable upon exercise of the Warrants of such Series, the right to exercise Warrants of such Series shall be automatically suspended until such Common Stock Shelf Registration Statement becomes effective as specified in Section 5.01. Section 3.05 Issuance of Warrant Shares. (a) Subject to Section 3.02(a), upon any exercise of Warrants in compliance with this Agreement, the Company shall issue and cause the transfer agent for the Common Stock (the “Stock Transfer Agent,” which may be the Warrant Agent) to cause to be registered in the Company’s register of shareholders via the direct registration system a number of full Warrant Shares so purchased upon the exercise of such Warrants (determined in accordance with Section 3.06 or, if applicable, Section 3.08) or Units of Reference Property to which it is entitled, registered or otherwise, to the Holder or Holders entitled to receive the same or upon the written order of the Holder(s) in such name or names as the Holder(s) may designate (including any depositary institution so designated by a Holder). In no event shall the Company have the right or obligation or be required to settle the exercise of Warrants through delivery of cash in lieu of Common Stock. (b) Such Warrant Shares or Units of Reference Property shall be delivered after the applicable Exercise Date on the transfer agent’s standard turnaround time. (c) The Company hereby instructs the Warrant Agent to record the cost basis for newly issued shares (or Units of Reference Property) as the sum of (x) the then applicable Warrant Exercise Price for the applicable Series of Warrants plus (y) the Holder’s cost basis in the exercised Warrant, if any, which the Warrant Agent shall request of the Holder, if necessary. (d) The Depositary’s (or the Calculation Agent’s) determination of the number of shares of Common Stock (or Units of Reference Property) to be issued on any exercise of Warrants represented by a Global Warrant and the Depositary’s determination of the validity of such exercise, pursuant to this Agreement, shall govern and the Warrant Agent shall have no duty or obligation to investigate or confirm whether such determinations are accurate or correct."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 3826, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "da3e86115b1d8ccff9182a9c1534a68a2c8f9160154d2b0d3560668510e26113", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 24483, "char_start": 20657, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p26", "passage_kind": "narrative", "passage_sequence": 26, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "If performed by the Calculation Agent, the determination of the number of shares of Common Stock (or Units of Reference Property) to be issued on any exercise of Warrants represented through the Company’s direct registration system or the Warrant Agent’s other book-entry procedures shall govern and the Warrant Agent shall have no duty or obligation to investigate or confirm whether such determination is accurate or correct. (e) The Person in whose name any shares of Common Stock (or Units of Reference Property) shall be issuable upon exercise of a Warrant shall be treated as a stockholder of record of such shares (or holder of such Units of Reference Property) as of the Close of Business on the relevant Exercise Date, assuming the satisfaction of all conditions, including the payment of the Warrant Exercise Price. Upon the exercise of any Warrants, such Person shall no longer be a Holder of such Warrants as of the Close of Business on the relevant Exercise Date. Section 3.06 Fractional Warrant Shares. The Company shall not be required to issue fractional shares of Common Stock (or Units of Reference Property) on the exercise of Warrants or pay cash in lieu thereof. The number of shares of Common Stock (or Units of Reference Property) that shall be issuable upon an exercise of Warrants by a Holder pursuant to any one Exercise Notice at any time shall be computed on the basis of the aggregate number of shares of Common Stock (or Units of Reference Property) which may be purchased pursuant to the Warrants being exercised by that Holder pursuant to such Exercise Notice. If any fraction of a share of Common Stock (or Units of Reference Property) would be issuable upon the exercise of Warrants pursuant to such Exercise Notice, the total number of shares of Common Stock (or Units of Reference Property) to be issued to the relevant Holder in respect of such Exercise Notice shall be rounded down to the nearest Whole Number and no cash or other adjustment will be made in lieu of the fraction of a share so rounded down. Section 3.07 Reservation of Warrant Shares. (a) The Company shall at all times keep reserved out of its authorized Common Stock a number of shares of Common Stock sufficient to provide for the exercise of all outstanding Warrants. The Company will keep a copy of this Agreement on file with the Stock Transfer Agent and will furnish to such Stock Transfer Agent a copy of all notices of adjustments (and certificates related thereto) transmitted to each Holder. (b) The Company covenants that all Warrant Shares that may be issued upon proper exercise of the Warrants (including payment of the Warrant Exercise Price) shall, upon issue, be fully paid, nonassessable and free of preemptive rights. (c) The Company shall provide an opinion of counsel on or prior to the date hereof which shall state that all Warrants and Warrant Shares, as applicable, (i) were offered, sold or issued as part of a distribution exempt from the registration requirements of the Securities Act (as the case may be), (ii) were issued in compliance with all applicable state securities or “blue sky” laws, and (iii) are validly issued, fully paid and non-assessable. Section 3.08 Net Exercise. (a) The Company may, in its sole discretion, (i) at any time upon at least ten (10) calendar days’ prior notice or (ii) at any time during an Exercise Suspension Period upon at least one (1) Trading Day’s notice, elect to change the exercise method for any Series of Warrants to net exercise to be effected in accordance with this Section 3.08. Subsequent to such change of exercise method to net exercise, the Company may, in its sole discretion, at any time upon at least ten (10) calendar days’ prior notice, change such exercise method back to cash exercise to be effected in accordance with Section 3.04."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b48"], "char_count": 932, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6900d27572f9a5d2b2184c86eb60c33bc68fd60c73d7040f8ef1e3a4890e5c6d", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 48, "char_end": 25415, "char_start": 24483, "fragment_sha256": "82429e165c5e33aa45fdbdcf8323acb1f381fe489ce0235625e89143f083614a", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Company shall be deemed to have provided any such notice by issuance of a press release, with a copy to the Warrant Agent and the Calculation Agent, of any such election, which shall be deemed effective on the Business Day so designated by the Company in such notice (which, for the avoidance of doubt, must be no earlier than ten (10) days or one (1) Trading Day, as applicable, after such date of such announcement as provided in the immediately preceding sentence). (b) Notwithstanding anything to the contrary in this Agreement, if any Warrant is exercised pursuant to Article III of this Agreement during a Net Exercise Period for such Series of Warrants, a Holder of such Series of Warrants will not be required to pay the Warrant Exercise Price to exercise such Series of Warrants and the number of Warrant Shares issuable for such exercise shall be calculated based on the following formula (subject to Section 3.08(d)):"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b56"], "char_count": 6, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "02cc020f791cdbd49b1e6761ee41577461874e05441615f9c872ccbb119d2d87", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 56, "char_end": 6, "char_start": 0, "fragment_sha256": "860d1a4998d50d527604d555405c73fc1cef8a7f36afcdf24c9800d7be5d6a73", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Where:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b57"], "char_count": 336, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "26e7d233ac1b4d857136f3bbc6cd2d544f2ce56f472cf3eba8e22f24902d8744", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 57, "char_end": 285, "char_start": 0, "fragment_sha256": "f03a4e75b35f9d0599aa736432ce38d962fa416f133aaa84c14529b59032bb49", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": 3, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p29", "passage_kind": "table", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b57", "text": "| | | |\n| --- | --- | --- |\n| WS | = | the number of Warrant Shares issuable for such exercise; |\n| | | |\n| NW | = | the number of Warrants of such Series exercised; |\n| | | |\n| WER | = | the Warrant Exercise Rate for such Series of Warrants in effect immediately prior to the Close of Business on the relevant Exercise Date; |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b59"], "char_count": 420, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "aea3d3fb2fdcc14a4ae5b897e7ae705ae1760b7deaf98dbde207ddb4dfb46f35", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 59, "char_end": 394, "char_start": 0, "fragment_sha256": "1c8a84346cac71194fb4822b908d2a6154720492cef982d15a093ffce68510c9", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": 4, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p30", "passage_kind": "table", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b59", "text": "| | | |\n| --- | --- | --- |\n| VWAP | = | the Daily VWAP for the VWAP Trading Day immediately preceding the relevant Exercise Date, subject to the final paragraph of this Section 3.08(b); and |\n| | | |\n| SP | = | the Warrant Exercise Price for such Series of Warrants divided by the Warrant Exercise Rate for such Series of Warrants, in each case in effect immediately prior to the Close of Business on the relev… |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b60"], "char_count": 3531, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9b3cad7d56218d509085a56a28b51288a5e0bb893135191639f83da6ace8fde8", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 60, "char_end": 3531, "char_start": 0, "fragment_sha256": "0745e71eec1099f3c8ea8e5e89a99e6de74ca4cb07d76e43f68f13cdd2eacdb8", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "EXERCISE TERMS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s21", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "provided that, if (i) the VWAP Trading Day immediately preceding the relevant Exercise Date falls prior to the Ex-Date or effective date, as the case may be, of any event giving rise to an adjustment pursuant to Section 4.01 to the Warrant Exercise Rate for such Series of Warrants, and (ii) the Warrant Exercise Rate for such Series of Warrants in effect immediately prior to the Close of Business on such Exercise Date has been so adjusted in respect of such event, “VWAP” for the purposes of the above formula shall instead be equal to the product (rounded to the nearest whole multiple of $0.0001 (with $0.00005 being rounded upwards)) of (a) the Daily VWAP for the VWAP Trading Day immediately preceding such Exercise Date and (b) a fraction, the numerator of which is the Warrant Exercise Rate for such Series of Warrants in effect immediately prior to such adjustment and the denominator of which is the Warrant Exercise Rate for such Series of Warrants as so adjusted. (c) Upon receipt of any Exercise Notice relating to a Series of Warrants during a Net Exercise Period for such Series, the Warrant Agent shall deliver a copy of such Exercise Notice to the Company and the Company shall promptly calculate and transmit to the Warrant Agent in writing, the number of whole Warrants to debit and the number of whole Warrant Shares issuable in connection with such exercise of such Warrants. The Warrant Agent shall have no obligation under this Agreement to calculate, the number of Warrant Shares issuable in connection with such net exercise, nor shall the Warrant Agent have any duty or obligation to investigate or confirm whether the Company’s determination of the number of Warrant Shares issuable upon such exercise, pursuant to this Section 3.08, is accurate or correct. (d) If the calculation for any exercise of a Warrant using the formula set forth in Section 3.08(b) would result zero or in a negative number (i.e., if VWAP is equal to or less than SP), then the number of Warrant Shares issuable for such exercise shall be zero and the Warrant so exercised shall cease to be outstanding. For the avoidance of doubt, the number of Warrant Shares issuable pursuant to this Section 3.08 shall be subject to Section 3.06. Section 3.09 Adjustments of Prices. Whenever any provision of this Agreement requires the Company or the Calculation Agent to calculate the average of the daily Last Reported Sale Prices or Daily VWAPs over a span of multiple days (if the Calculation Agent determines in its sole discretion it is able to make such adjustment in its capacity as Calculation Agent), the Company or the Calculation Agent, as applicable, shall make appropriate adjustments, if any, to each to account for any adjustment pursuant to Section 4.01 to the applicable Warrant Exercise Rate that becomes effective, or any event requiring an adjustment pursuant to Section 4.01 to the applicable Warrant Exercise Rate where the Ex-Date or effective date, as the case may be, of the event occurs, at any time during or after the period when the average of the Last Reported Sale Prices or Daily VWAP(s) is to be calculated. If the Calculation Agent determines in its sole discretion it is not able to make such adjustment, the Company may make such adjustment in good faith or appoint an Independent Advisor to make such adjustment, and the Company’s (or, as the case may be, such Independent Advisor’s) calculation shall be determinative and final and binding on the Warrant Agent, the Calculation Agent and the Holders."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b64"], "char_count": 796, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d35fed35db5a60cc167e58272698b594838ec783b6cc22e92688ba40bd6b6ed2", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 64, "char_end": 796, "char_start": 0, "fragment_sha256": "deb63f04704aa7d431f0d51a55b7d288fa929e25e668bd20155dd08982192683", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 4.01 Adjustments. Subject to the provisions of this Article IV, the Warrant Exercise Rate for each Series of Warrants shall be subject to adjustment, without duplication, as follows: (a) Stock Dividends, Splits, Subdivisions, Reclassifications and Combinations. If the Company shall (i) exclusively issue shares of Common Stock to all or substantially all holders of Common Stock as a dividend or distribution on shares of the Common Stock, (ii) subdivide or reclassify the issued and outstanding shares of Common Stock into a greater number of shares, or (iii) combine, consolidate or reclassify the issued and outstanding shares of Common Stock into a smaller number of shares, then the Warrant Exercise Rate for each Series of Warrants shall be adjusted based on the following formula:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b66"], "char_count": 955, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a792244c64bf6826766e9065fd772f9ecda41fe2bef924ff72ee59a1d64ef82c", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 66, "char_end": 1268, "char_start": 0, "fragment_sha256": "35bcbdd8d621e095c54881a98cf08559be6905eb65dbce773944ef94136b9ffd", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": 5, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p33", "passage_kind": "table", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b66", "text": "| | | | |\n| --- | --- | --- | --- |\n| WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution, or at the open of business on the effective date of such subdivision, combinat… | |\n| | | | |\n| WER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution, or immediately prior to open of business on the effective da… | |\n| | | | |\n| OS1 | = | the number of shares of Common Stock outstanding immediately after, and solely as a result of giving effect to, such dividend, distribution, subdivision, combination, consolidation or reclassificatio… | |\n| | | | |\n| OS0 | = | the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Date for such dividend or distribution or immediately prior to the open of business on the effecti… | |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b68"], "char_count": 1589, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ba14da476d51d18d958b011137d71cc626d0f1cd5d4cc715b93870765f27d4a9", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 68, "char_end": 1589, "char_start": 0, "fragment_sha256": "08db903533e43ecaa011ac138ac1c1004be53e523a2729411fd242dbe26d6376", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Any adjustment made under this clause (a) shall become effective at the open of business on such Ex-Date for such dividend or distribution, or at the open of business on the effective date for such subdivision, consolidation, combination or reclassification, as applicable. If an adjustment to the Warrant Exercise Rate is made in respect of any dividend or distribution, subdivision, consolidation, combination or reclassification of the type described in this clause (a) but such dividend or distribution, subdivision, consolidation, combination or reclassification is not so paid or made, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to pay or make such dividend or distribution, subdivision, consolidation, combination or reclassification, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. (b) Rights Issues. If the Company issues to all or substantially all holders of the Common Stock any rights, options or warrants entitling them, for a period of not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share that is less than the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of 10 consecutive Trading Days immediately preceding the date of announcement of such issuance, the Warrant Exercise Rate for each Series of Warrants shall be increased based on the following formula:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b70"], "char_count": 834, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "82ab4eff61225ac795c458394c987e044d059e258f23ac832940a95a1ba7294c", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 70, "char_end": 939, "char_start": 0, "fragment_sha256": "71af7dcb48c77a785092bd90c66f40fcb55d6328b28977c981ec3c2d3156baa7", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": 6, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p35", "passage_kind": "table", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b70", "text": "| | | | |\n| --- | --- | --- | --- |\n| WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such issuance; | |\n| | | | |\n| WER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such issuance; | |\n| | | | |\n| OS0 | = | the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Date for such issuance; | |\n| | | | |\n| X | = | the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and | |\n| | | | |\n| Y | = | the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the arithmetic average of the Last Reported Sale Prices of the Commo… | |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b72"], "char_count": 3164, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9e385fe23757f6abecdb319eaf67ca540c5975e94ea2b3ca42b07f3a06108a15", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 72, "char_end": 3164, "char_start": 0, "fragment_sha256": "9359e79a9146f5f7d91b7dd6e3dc2c3168aeb4f4ea305a55291b5d757b3b4b75", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Any adjustment to the applicable Warrant Exercise Rate made under this clause (b) shall be made whenever any such rights, options or warrants are issued and shall become effective at the open of business on the Ex-Date for such issuance. To the extent that shares of the Common Stock are not delivered after the expiration of such rights, options or warrants, the Warrant Exercise Rate shall be decreased to the applicable Warrant Exercise Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If an adjustment to the applicable Warrant Exercise Rate is made in respect of any such issuance of rights, options or warrants but such rights, options or warrants are not so issued, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to issue such rights, options or warrants, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. For purposes of this clause (b), in determining whether any rights, options or warrants entitle the holders of the Common Stock to subscribe for or purchase shares of the Common Stock at less than such arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of 10 consecutive Trading Days immediately preceding the date of announcement for such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. (c) Other Distributions and Spin-Offs. (i) Distributions Other than Spin-Offs. If the Company makes a distribution to all or substantially all holders of its Common Stock, of its Capital Stock, evidences of indebtedness, other assets or property of the Company, or rights, options or warrants to acquire its Capital Stock or other securities, excluding: (1) any dividends, distributions or issuances described in clause (a) above or clause (b) above; (2) any dividends or distributions paid exclusively in cash described in clause (d) below; (3) any dividends or distributions in connection with a Share Exchange Event, reclassification, change, consolidation conveyance, transfer, sale, lease or other disposition resulting in the change in the securities or property receivable upon the exercise of a warrant as described in Section 4.03; (4) any rights issued pursuant to a shareholders’ rights plan adopted by the Company, other than as described in clause (e); (5) any Spin-Offs described below in Section 4.01(c)(ii); and (6) any dividend or distribution by the Company of any rights, options or warrants to purchase Common Stock (each, an “Excluded Distribution”), then the Warrant Exercise Rate for each Series of Warrants shall be increased based on the following formula:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b75"], "char_count": 789, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d21399e748e3ecfca24efb6c7e8dd24ca23d0febc9ac5554ac0f985c5a0a9ddb", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 75, "char_end": 806, "char_start": 0, "fragment_sha256": "9bd6eca26d22aa0c0441f42b888358b0bb514107fe468218a46092bcd17692dc", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": 7, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p37", "passage_kind": "table", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b75", "text": "| | | | |\n| --- | --- | --- | --- |\n| WER1 | = | the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such distribution; | |\n| | | | |\n| WER0 | = | the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such distribution; | |\n| | | | |\n| SP0 | = | the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of 10 consecutive Trading Days immediately preceding the Ex-Date for such distr… | |\n| | | | |\n| FMV | = | the Fair Market Value, as of the open of business on the Ex-Date for such distribution, of the shares of Capital Stock, evidences of indebtedness, assets or property of the Company, cash, rights or w… | |"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b76"], "char_count": 807, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b83ba3c96fdcc80271cc957e6085e85beb17b9f729cf0c35815b3d374fa7deca", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 76, "char_end": 807, "char_start": 0, "fragment_sha256": "ad3e76d967df2ccef7b794ac13ecd1a4ec39d4bdebb065f7fca8e969b4e7a884", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "Execution Version", "TABLE OF CONTENTS", "ARTICLE I", "ADJUSTMENT AND NOTICE PROVISIONS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s23", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Any adjustment to the applicable Warrant Exercise Rate under this clause (c)(i) shall become effective at the open of business on the Ex-Date for such distribution. (ii) Spin-Offs. With respect to an adjustment pursuant to this clause (c) where there has been a payment of a dividend or other distribution by the Company to all or substantially all holders of its Common Stock (other than solely pursuant to a Share Exchange Event) in shares of Capital Stock of any class or series, or similar equity interests, of or relating to a subsidiary or other business unit of the Company that will be, upon distribution, listed or quoted on a U.S. national or regional securities exchange (a “Spin-Off”), then the Warrant Exercise Rate for each Series of Warrants shall be increased based on the following formula:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b81", "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b82", "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b83"], "char_count": 1730, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4dc4ed9c19776d470016c329cadf96008ee3068b7cf79568ce862961c6d39678", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 81, "char_end": 619, "char_start": 0, "fragment_sha256": "3cc1a8586798196af8a5f09bb36f29368550cc68a5eb7ba71e16eeea0e26aa52", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 82, "char_end": 136, "char_start": 0, "fragment_sha256": "2bb5689fd85073c757b17918b089939f656e3163c4b7e52ba1509b49e1c7b842", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 83, "char_end": 971, "char_start": 0, "fragment_sha256": "f2e77119327703574d12c04bf4ec40378edb02a14a73678237015ea8c37b49b4", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p39", "passage_kind": "narrative", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "FMV = the arithmetic average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock on each day which is a Trading Day for both the Common Stock and the Capital Stock or similar equity interest so distributed (each, a “Valuation Trading Day”) comprised in the period of 10 consecutive Valuation Trading Days commencing on the Ex-Date for such Spin-Off (or, if such Ex-Date is not a Valuation Trading Day, commencing on the immediately following Valuation Trading Day) (such period, the “Valuation Period”); and\n\nSP0 = the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the Valuation Period.\n\nAny adjustment to the applicable Warrant Exercise Rate under this clause (c)(ii) shall be made immediately after the Close of Business on the last day of the Valuation Period, but shall become effective at the open of business on the Ex-Date for the Spin-Off, subject to Section 4.02(b). If an adjustment to the applicable Warrant Exercise Rate is made in respect of any distribution of the type described in this clause (c) but such distribution is not so made, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to make such distribution, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. (d) Cash Dividends or Distributions. If any cash dividend or distribution is paid to all or substantially all holders of Common Stock, then the Warrant Exercise Rate for each Series of Warrants shall be increased based on the following formula:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85"], "char_count": 3486, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b68b82ccc9ea4bc8e3a5a3e1d0a2ecf0704295b01049ca2261b0fb18fb60f825", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 85, "char_end": 3486, "char_start": 0, "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p40", "passage_kind": "narrative", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "WER1 = the applicable Warrant Exercise Rate in effect at the open of business on the Ex-Date for such dividend or distribution; and WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution; SP0 = the arithmetic average of the Last Reported Sale Prices of the Common Stock on each Trading Day comprised in the period of ten consecutive Trading Days immediately preceding the Ex-Date for such dividend or distribution; C = the amount in cash per share the Company distributes to holders of the Common Stock; Any adjustment to the applicable Warrant Exercise Rate made under this clause (d) shall become effective at the open of business on the Ex-Date for such dividend or distribution. If an adjustment to the applicable Warrant Exercise Rate is made in respect of any dividend or distribution of the type described in this clause (d) but such dividend or distribution is not so paid, the applicable Warrant Exercise Rate shall be readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the applicable Warrant Exercise Rate that would then be in effect at such time had no such adjustment been made. (e) Shareholder Rights Plan. If the Company has a shareholder rights plan in effect upon the Exercise Date of a Warrant, each share of Common Stock, if any, issued upon such exercise shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued upon such exercise shall bear such legends, if any, in each case as may be provided by the terms of any such shareholder rights plan, as the same may be amended from time to time. However, if, prior to any exercise, the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable shareholder rights plan so that the Holders of Warrants would not be entitled to receive any rights in respect of Common Stock, if any, issuable upon exercise, the applicable Warrant Exercise Rate shall be adjusted at the time of separation as if the Company had made a distribution to all holders of its Common Stock as provided in Section 4.01(b), subject to readjustment in the event of the expiration, termination or redemption of such rights. (f) No Adjustments in Certain Cases: (i) Notwithstanding anything to the contrary in clauses (a) through (e) of Section 4.01, the Company will not be obligated to adjust the Warrant Exercise Rate for any Series on account of a transaction or other event otherwise requiring an adjustment pursuant to such clauses (other than a stock split or combination of the type set forth in Section 4.01(a)) if each Holder participates, at the same time and on the same terms as holders of Common Stock, at the same time and upon the same terms as holders of the shares of Common Stock and solely as a result of holding the applicable Warrants in such transaction or event without having to exercise such Holder’s Warrants, as if such Holder held a number of shares of Common Stock equal to the product (rounded down to the nearest Whole Number) of (i) the Warrant Exercise Rate in effect for such Series of Warrants on the Record Date for such transaction and (ii) the number of Warrants of such Series held by it on such Record Date. (ii) The Company will not be required to adjust the Warrant Exercise Rate for any Series except as provided in this Section 4.01."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85"], "char_count": 2609, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9883daf276c2fc757b82622ea7b920ecb143be102a014eeb93bb17c47d137a69", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 85, "char_end": 6095, "char_start": 3486, "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Without limiting the foregoing, the Company will not be obligated to adjust the Warrant Exercise Rate for any Series on account of: (1) except as otherwise provided in Section 4.01, the sale of shares of Common Stock for a purchase price that is less than the market price per share of Common Stock or less than quotient obtained by dividing the Warrant Exercise Price for such Series by the Warrant Exercise Rate for such Series; (2) the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any such plan; (3) the issuance of any shares of Common Stock or options or rights to purchase shares of Common Stock pursuant to any present or future employee, director or consultant benefit plan or program of, or assumed by, the Company or any of its subsidiaries; (4) the issuance of any shares of Common Stock pursuant to any option, warrant, right or convertible or exchangeable security of the Company outstanding as of the Issue Date or issued in any Excluded Distribution; or (5) solely a change in the par value of the Common Stock. Section 4.02 Calculation of Adjustments; Timing of Issuance of Additional Warrant Shares Upon Certain Adjustments; Adjustment Rules. (a) All adjustments to the applicable Warrant Exercise Rate under Section 4.01 shall be made by the Calculation Agent to the nearest whole multiple of 0.00001 (with 0.000005 being rounded upwards) share of Common Stock. (b) Notwithstanding anything to the contrary in this Agreement or the Warrants, (i) if the provisions of Section 4.01 shall require that an adjustment be made to the Warrant Exercise Rate of any Series of Warrants in respect of any distribution or other relevant event, and the shares of Common Stock issuable in respect of any exercise are entitled to participate in such distribution or other relevant event, such adjustment shall not be given effect for the purpose of such exercise of Warrants of such Series of Warrants and (ii) if the Exercise Date in respect of any exercise of Warrants falls after the Record Date for any Spin-Off and on or before the last day of the relevant Valuation Period, delivery of the shares of Common Stock issuable (or amount of cash payable, as applicable) pursuant to such exercise shall occur as soon as practicable after the last day of such Valuation Period. (c) Any adjustments pursuant to Section 4.01 shall be made successively whenever an event referred to therein shall occur."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85"], "char_count": 3816, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "aab752bb44ccd0c04e67b08fb512621b6e2f2d59cce311d3772aebc186b4cb63", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 85, "char_end": 9911, "char_start": 6095, "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p42", "passage_kind": "narrative", "passage_sequence": 42, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 4.03 Effect of Share Exchange Event. (a) In case of: (i) any recapitalization, reclassification or change of the Common Stock (other than a change to par value, or from par value to no par value, or changes resulting from a subdivision or combination); (ii) any consolidation, merger, combination or similar transaction involving the Company; (iii) any sale, lease or other transfer to a third party of the consolidated assets of the Company and the Company’s Subsidiaries substantially as an entirety; or (iv) any statutory share exchange; in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof) (any such event, a “Share Exchange Event”), then, at and after the effective time of such Share Exchange Event, the right to exercise each Warrant to purchase Warrant Shares shall be changed into a right to exercise such Warrant to purchase the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Warrant Exercise Rate immediately prior to such Share Exchange Event would have owned or been entitled to receive (the “Reference Property”, with each “Unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to receive) upon such Share Exchange Event and, prior to or at the effective time of such Share Exchange Event, the Company or the successor or acquiring Person, as the case may be, shall execute with the Warrant Agent an amendment to this Agreement permitted under Section 4.06(a)(viii) providing for such change in the right to exercise each Warrant; provided, however, that at and after the effective time of the Share Exchange Event any shares of Common Stock that the Company would have been required to deliver upon exercise of the Warrants in accordance with Section 3.05 shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have received in such Share Exchange Event. If the Share Exchange Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of shareholder election), then (i) the Reference Property which a Holder of Warrants will receive upon exercise of such Warrants shall be deemed to be the weighted average of the types and amounts of consideration actually received by the holders of Common Stock, and (ii) the Unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one (1) share of Common Stock. If the Unit of Reference Property includes, but does not consist entirely of, cash in such Share Exchange Event, then for all exercises of Warrants for which the relevant Exercise Date occurs after the effective date of such Share Exchange Event, (A) the payment of the Warrant Exercise Price required to exercise any Warrant shall be deducted or removed (but, for the avoidance of doubt, not deducted below zero), as applicable, by an amount equal to the product of (I) the Warrant Exercise Rate in effect on the Exercise Date and (II) the amount of cash included in such Unit of Reference Property and (B) from the cash that would otherwise be received by the Holder upon exercise of such Warrant shall be deducted or removed (but, for the avoidance of doubt, not deducted below zero), as applicable, by an amount equal to the amount so deducted from the payment of the Warrant Exercise Price pursuant to the immediately preceding clause (A)."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85"], "char_count": 3977, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9a4c3b6fbd0f1d12f21b5bd0f6f1a041e09b064ca4059bed9f88501ca1bac361", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 85, "char_end": 13888, "char_start": 9911, "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "If the holders of the Common Stock receive only cash in such Share Exchange Event, then for all exercises of Warrants for which the relevant Exercise Date occurs after the effective date of such Share Exchange Event, (A) no payment of the Warrant Exercise Price will be required to exercise any Warrant, (B) the consideration due upon exercise of each Warrant shall be solely cash in an amount equal to the excess, if any, of (I) the product of (x) the Warrant Exercise Rate in effect on the Exercise Date and (y) the price paid per share of Common Stock in such Share Exchange Event over (II) the Warrant Exercise Price and (C) the Company shall satisfy its obligation to deliver the units of Reference Property in connection with an exercise of Warrants by paying cash to exercising Holders on the fifth (5th) Business Day immediately following the relevant Exercise Date. The Company shall notify Holders and the Warrant Agent in writing of such weighted average as soon as practicable after such determination is made. If the Reference Property in respect of any such Share Exchange Event includes, in whole or in part, shares of Common Equity or American depositary receipts (or other interests) in respect thereof, such amendment to this Agreement described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall be as nearly equivalent as is possible to the adjustments provided for in this Article IV with respect to the portion of the Reference Property consisting of such Common Equity or American depositary receipts (or other interests) in respect thereof. If, in the case of any Share Exchange Event, the Reference Property includes shares of stock, securities or other property or assets (including any combination thereof), other than cash and/or cash equivalents, of a Person other than the Company or the successor or acquiring Person, as the case may be, in such Share Exchange Event, then such amendment to this Agreement shall also be executed by such other Person, if such Person is an Affiliate of the Company or the successor or acquiring Person, and shall contain such additional provisions to protect the interests of the Holders as the Company shall in good faith reasonably consider necessary by reason of the foregoing. (b) When the Company executes an amendment to this Agreement pursuant to subsection (a) of this Section 4.03, the Company shall promptly file with the Warrant Agent a certificate from a duly authorized Officer of the Company briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise a Unit of Reference Property after any such Share Exchange Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly deliver or cause to be delivered notice thereof to all Holders. The Company shall cause notice of the execution of such amendment to this Agreement to be delivered to each Holder within twenty (20) days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such amendment to this Agreement. (c) The above provisions of this Section shall similarly apply to successive Share Exchange Events. Section 4.04 Notice of Adjustments. Whenever any adjustment is made pursuant to this Article IV, the Company shall cause notice of such adjustment to be delivered to the Warrant Agent as soon as practicable following the effective date of such adjustment, such notice to include in reasonable detail (i) the reason for the adjustment, (ii) the computation of any adjustments, and (iii) the new or amended exercise terms, including, as applicable, the adjusted applicable Warrant Exercise Rate (or the number of shares or the Units of Reference Property purchasable upon exercise of each Warrant) and the Early Expiration Trigger Price for such Series of Warrants after giving effect to such adjustment."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85"], "char_count": 3858, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1519b7e579d4cd4afd90b8ab589c074f054cafe0ebb7555428c9db296a204be0", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 85, "char_end": 17746, "char_start": 13888, "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p44", "passage_kind": "narrative", "passage_sequence": 44, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The calculations, adjustments and determinations included in the Company’s notice shall, absent manifest error, be final and binding on the Company, the Warrant Agent and the Holders. The Warrant Agent shall be entitled to rely on such notice and any adjustment therein contained and the Warrant Agent shall not be deemed to have knowledge of any such adjustment unless and until it shall have received such notice. The Warrant Agent shall have no obligation under any section of this Agreement to determine whether an adjustment is required or to calculate any of the adjustments set forth herein. The Company shall provide notice to the Holders of any such adjustment by press release or such other method as the Company may reasonably determine adequately informs the Holders of such adjustment. The Warrant Agent shall as soon as practicable after receipt of such notice from the Company (which notice must specifically direct the Warrant Agent to perform delivery) cause a similar notice to be delivered to the Depositary pursuant to the customary procedures of the Depositary. Section 4.05 Adjustment to Warrant Certificate. The form of Warrant Certificate for any Series of Warrants need not be changed because of any adjustment made pursuant to this Article IV, and Warrant Certificates issued after such adjustment may state the same Warrant Exercise Rate as are stated in any Warrant Certificates issued prior to such adjustment. The Company, however, may at any time in its sole discretion make any change in the form of any Warrant Certificate that it may deem appropriate to give effect to such adjustments and that does not affect the substance of the Warrant Certificate, and any Warrant Certificate thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant Certificate or otherwise, may be in the form as so changed. For the avoidance of doubt, no change to a Warrant Certificate or this Agreement as a result of an adjustment pursuant to this Article IV shall require the consent of the Holders of any Warrants or the Warrant Agent. Section 4.06 Amendments. (a) The Company and the Warrant Agent, without the consent of the Holders, may from time to time and at any time amend this Agreement and/or any Warrant Certificate for one or more of the following purposes: (i) to cure any ambiguity, omission, defect or inconsistency; (ii) to provide for the assumption by a successor company in any Share Exchange Event, if applicable; (iii) to extend the Expiration Date for any Series of Warrants; (iv) to increase the Warrant Exercise Rate or decrease the Warrant Exercise Price for any Series of Warrants; (v) to provide for net share settlement upon exercise of any Series of Warrants in a manner other than as provided in Section 3.08; (vi) to make any change that does not adversely affect the rights of any Holder in any material respect; (vii) to provide for a successor Warrant Agent or Calculation Agent; (viii) in connection with any Share Exchange Event, to provide that Warrants are exercisable for Units of Reference Property; (ix) to comply with the rules of any applicable Depositary so long as such amendment does not adversely affect the rights of any Holder in any material respect; (x) to conform the provisions of this Agreement or the Warrant Certificate to the “Description of the Warrants” section of the prospectus supplement relating to the issuance and sale of shares of Common Stock upon exercise of the Warrants; or (xi) to provide for or confirm the issuance of additional Warrants pursuant to Section 2.01(a)(iv). Any amendment authorized by the provisions of this Section 4.06(a) may be executed by the Company and the Warrant Agent without the consent of the Holders of any of the Warrants at the time outstanding, notwithstanding any of the provisions of Section 4.06(b)."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b85"], "char_count": 3405, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "093da77a1b565943f4c1a307d1383112f5dd198a87ead781db61e3f858d26017", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 85, "char_end": 21151, "char_start": 17746, "fragment_sha256": "66ecd628681730b51ae59a8b20009e991bfd03297f52aba01654d5a73bf15889", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p45", "passage_kind": "narrative", "passage_sequence": 45, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s25", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Warrant Agent shall not unreasonably refuse to execute any such amendment proposed by the Company. (b) With the written consent of the Holders of a majority of the then outstanding Warrants of any Series, the Company may from time to time amend this Agreement and/or the Warrant Certificate for such Series of Warrants in a manner that has a material adverse effect on the interests of the Holders of such Series of Warrants. Notwithstanding the foregoing, in the event that any amendment would have a material adverse effect on the interests of the Holders of all Series of Warrants in the same manner, then such amendment shall require the written consent of the Holders of a majority of the then outstanding Warrants of all Series, voting as a single class. In determining whether the Holders of the required number of Warrants of a Series or of all Series of Warrants have concurred in any direction, waiver or consent, only Warrants outstanding at the time shall be considered in any such determination, and the Warrants known to the Warrant Agent to be owned by the Company shall be disregarded and deemed not to be outstanding for such purpose. The Company or the Warrant Agent may set a Record Date for any such direction, waiver or consent and only the Holders as of such Record Date shall be entitled to make or give such direction, waiver or consent. (c) No supplement or amendment to this Agreement or any Warrant Certificate pursuant to Section 4.06 shall be effective unless duly executed by the Warrant Agent and the Company. As a condition precedent to the Warrant Agent’s execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized Officer of the Company that states that the proposed amendment is in compliance with the terms of Section 4.06. Notwithstanding anything in this Agreement to the contrary, the Warrant Agent may, but shall not be obligated to, enter into any supplement or amendment that adversely affects the Warrant Agent’s own rights, duties, immunities or obligations under this Agreement. (d) The Company shall provide reasonable notice to the Holders via press release or Form 8-K filing of any material amendment to this Agreement or any Warrant Certificate pursuant to this Section 4.06, and in each case materiality shall be determined by the Company using its sole reasonable discretion. The Warrant Agent shall as soon as practicable after receipt of such notice from the Company (which notice must specifically direct the Warrant Agent to perform delivery) cause a similar notice to be delivered to the Depositary pursuant to the customary procedures of the Depositary. Upon the execution of any amendment of this Agreement or the Warrant Certificate pursuant to the provisions of this Section 4.06, this Agreement and/or the applicable Warrant Certificate shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties and immunities under Agreement of the Company, the Warrant Agent and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such amendment shall be and be deemed to be part of the terms and conditions of this Agreement and the applicable Warrant Certificate for any and all purposes."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b95"], "char_count": 3482, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d5cf2022d82e9c8774b1dbb9006c9d7acd7aafec65ffc193f1b858cb90dc9b52", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 95, "char_end": 3482, "char_start": 0, "fragment_sha256": "f4d795e72aa69240a10045052c06804e44fdd3149ac15175666650e1070402e1", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s27", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 5.01 Effectiveness of Registration Statement. The Company shall use commercially reasonable efforts to cause a shelf registration statement (including, at the Company’s election, an existing registration statement or a replacement thereof), filed pursuant to Rule 415 (or any successor provision) of the Securities Act, covering the issuance of Warrant Shares to the Holders upon exercise of each Series of Warrants by the Holders thereof (the “Common Stock Shelf Registration Statement”) to, subject to certain exceptions, (i) become effective as promptly as reasonably practicable after the date of this Agreement and (ii) remain effective at least until the earlier of (x) such time as all Warrants have been exercised and (y) the Close of Business on the latest Expiration Date for all Series of Warrants. The Company shall promptly inform the Warrant Agent of any change in the status of the effectiveness or availability of the Common Stock Shelf Registration Statement. For the avoidance of doubt, no Warrants shall be exercisable at any time until a Common Stock Shelf Registration Statement becomes effective. If a Common Stock Shelf Registration Statement is not effective at any time or from time to time for any reason, then the right to exercise each Series of Warrants shall (unless there is a Net Exercise Period in effect for such Series of Warrants) be automatically suspended until such Common Stock Shelf Registration Statement becomes effective (any such period (which, for the avoidance of doubt, shall exclude any Net Exercise Period with respect of such Series of Warrants), an “Exercise Suspension Period” for such Series of Warrants). As promptly as practicable upon each occurrence of an Exercise Suspension Period for any Series of Warrants, the Company shall provide notice by press release, with a copy to the Warrant Agent and the Calculation Agent, of such Exercise Suspension Period. Notwithstanding anything to the contrary in this Agreement, (i) no calculation of the Daily VWAP for purposes of determining the Early Expiration Price Condition for any Series of Warrants shall occur during any Exercise Suspension Period for such Series of Warrants, and (ii) if the Expiration Date for such Series of Warrants would otherwise fall in an Exercise Suspension Period, the Expiration Date for such Series of Warrants shall be delayed by the number of days comprised in such Exercise Suspension Period for such Series of Warrants. Section 5.02 Suspension. The Company shall be entitled to suspend the availability of the Common Stock Shelf Registration Statement from time to time if the Board of Directors determines in the exercise of its reasonable judgment that such suspension is necessary or desirable, as determined by the Company in its sole discretion, and provides notice via press release that such determination was made to the Warrant Agent and Holders of the Warrants (provided that, upon request by the Company, the Stock Transfer Agent will deliver a copy of such notice to the Depositary pursuant to the customary procedures of the Depositary) and any such suspension period shall be treated as an Exercise Suspension Period for any Series of Warrants with respect to which no Net Exercise Period is then in effect. In no event shall the Company be required to disclose the business purpose for such suspension if the Company determines in good faith that such business purpose should remain confidential. Section 5.03 Expenses."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b95"], "char_count": 1071, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "593b4a8c274bc02e8ac414dca9e1b36dd468a6ffb1568d839302fa6209efb255", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 95, "char_end": 4553, "char_start": 3482, "fragment_sha256": "f4d795e72aa69240a10045052c06804e44fdd3149ac15175666650e1070402e1", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p47", "passage_kind": "narrative", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s27", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Subject to Section 2.04(c)(ii), all expenses incurred directly by the Company that are incident to the Company’s performance of or compliance with its obligations under this Article V relating to the issuance of the Warrant Shares will be borne by the Company, including, without limitation: (i) all SEC, stock exchange or Financial Industry Regulatory Authority registration and filing fees, (ii) all fees and expenses incurred by the Company in connection with its compliance with state securities or blue sky laws, (iii) all expenses of any Persons incurred by or on behalf of the Company with the prior written consent of the Company in preparing or assisting in preparing, printing and distributing the Common Stock Shelf Registration Statement or any other registration statement, prospectus, any amendments or supplements thereto and other documents relating to the performance of and compliance with this Article V, (iv) the fees and disbursements of counsel for the Company and (v) the fees and disbursements of the independent public accountants of the Company."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b101"], "char_count": 3666, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6091ca4987f8c756b09ab5da79ad9aac3cc7ee3cac348019cbcba882dd3407d8", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 101, "char_end": 3666, "char_start": 0, "fragment_sha256": "27f05502ba9dbe41a3db97927c1d3d62a7f3fb72d4a63fee0b426268f77859fa", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 7.01 Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express provisions of this Agreement and the Warrant Agent hereby accepts such appointment. Section 7.02 Rights and Duties of Warrant Agent. (a) Agent for the Company. In acting under this Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligation or relationship or agency or trust for or with any Holder or beneficial owner of the Warrants. All fees and expenses due the Warrant Agent shall be paid to the Warrant Agent by the Company. The Warrant Agent shall have no duty to determine which costs, if any, under this Agreement shall be borne by the Holders or by the Company. (b) Counsel. The Warrant Agent may consult with counsel satisfactory to it (who may be counsel to the Company) and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in the absence of bad faith (which bad faith must be determined by a final non-appealable order, judgment, decree or ruling of a court of competent jurisdiction) and in accordance with the advice of such counsel. (c) Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties. (d) No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificates, and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that may tend to involve it in any expense or liability for which it does not receive indemnity if such indemnity is reasonably requested. The Warrant Agent shall not be accountable or under any duty or responsibility for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. (e) Not Responsible for Adjustments or Validity of Stock. The Warrant Agent shall not at any time be under any duty or responsibility to any Holder to determine whether any facts exist that may require an adjustment of the Warrant Exercise Rate, or with respect to the nature or extent of any adjustment when made, or with respect to the method employed, or herein or in any supplemental agreement provided to be employed, in making the same, or with respect to any new exercise terms, or with respect to calculations of any adjustments or any amounts due in connection with any exercise of the Warrants. The Warrant Agent shall not be accountable with respect to the validity or value of any shares of Common Stock or of any securities or property which may at any time be issued or delivered upon the exercise of any Warrant or upon any adjustment pursuant to Article IV, and the Warrant Agent makes no representation with respect thereto."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b101"], "char_count": 3510, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2e10b0a9f233c7d3d6b0fd002b6ce5b3fe330b8d6adfd9fae4acc68eef481003", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 101, "char_end": 7176, "char_start": 3666, "fragment_sha256": "27f05502ba9dbe41a3db97927c1d3d62a7f3fb72d4a63fee0b426268f77859fa", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p49", "passage_kind": "narrative", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Warrant Agent shall not be responsible for any failure of the Company to make any cash payment or to issue, transfer or deliver any Warrant Shares upon the surrender of any Warrant Certificate for the purpose of exercise, nor shall the Warrant Agent be liable for any liquidated damages or any other damages associated therewith. (f) No Liability for Interest. The Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates. (g) Agents and Attorneys. The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such attorney or agents or subcontractors or for any loss to the Company resulting from any such act, default, neglect or misconduct, absent gross negligence, bad faith or willful misconduct (each as determined by a final, non-appealable judgment of a court of competent jurisdiction) in the selection or continued employment thereof. (h) Medallion Guarantee. The Warrant Agent may rely on and be fully authorized and protected in acting or failing to act upon (i) any guaranty of signature by an “eligible guarantor institution” that is a member or participant in the Securities Transfer Agents Medallion Program or other comparable “signature guarantee program” or insurance program in addition to, or in substitution for, the foregoing; or (ii) any law, act, regulation or any interpretation of the same even though such law, act, or regulation may thereafter have been altered, changed, amended or repealed. Section 7.03 Individual Rights of Warrant Agent. The Warrant Agent and any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of the Company or its Affiliates or become pecuniary interested in transactions in which the Company or its Affiliates may be interested, or contract with or lend money to the Company or its Affiliates or otherwise act as fully and freely as though it were not the Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity. Section 7.04 Warrant Agent’s Disclaimer. The Warrant Agent shall not be responsible for and makes no representation as to the validity or adequacy of this Agreement or the Warrant Certificates (other than its countersignature thereof) and it shall not be responsible for any statements of fact or recitals contained in this Agreement or the Warrant Certificates other than its countersignature thereof by the Company, or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by the Company only; nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant Certificate; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant Certificate or as to whether any shares of Common Stock will, when issued, be duly authorized, validly issued, fully paid and nonassessable. Section 7.05 Compensation and Indemnity. (a) Compensation."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b101"], "char_count": 3902, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ad957a63cdf96c4e47e534676fcf84dbf6ae4e85521ff2aa2878cd2279e3e92e", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 101, "char_end": 11078, "char_start": 7176, "fragment_sha256": "27f05502ba9dbe41a3db97927c1d3d62a7f3fb72d4a63fee0b426268f77859fa", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Company agrees that the Warrant Agent is entitled, from time to time, to reasonable compensation for its services as agreed in accordance with a fee schedule to be mutually agreed upon between the Company and the Warrant Agent in writing for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable and documented counsel fees and other disbursements incurred in the preparation, delivery, negotiation, amendment, administration and execution of this Agreement and the exercise and performance of its duties hereunder) by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent. (b) Indemnity. The Company shall indemnify and hold harmless the Warrant Agent, its officers, directors, agents and counsel against any loss, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including reasonable attorneys’ fees and expenses) which may be paid, incurred or suffered by or to which it may become subject arising from or out of, directly or indirectly, any claims or liability resulting from any action taken, suffered or omitted by the Warrant Agent in connection with the execution, acceptance, administration, exercise and performance of its duties under this Agreement, including the reasonable costs and expenses of defending against any claim of liability arising therefrom, directly or indirectly, or of enforcing its indemnification rights under this Agreement. The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Warrant Agent, its officers, directors, agents and/or counsel through willful misconduct or gross negligence of any one or more of them (which willful misconduct or gross negligence must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). (c) Company Instructions. From time to time, the Company may provide the Warrant Agent with instructions concerning the services performed by the Warrant Agent hereunder. In addition, at any time the Warrant Agent may apply to any officer of the Company for instruction, and may consult with legal counsel for the Warrant Agent or the Company with respect to any matter arising in connection with the services to be performed by the Warrant Agent under this Agreement. The Warrant Agent and its agents and subcontractors shall not be liable and shall be indemnified by the Company for any action taken or omitted in the absence of bad faith by the Warrant Agent (i) in reliance upon any written Company instructions or (ii) upon the advice or opinion of such counsel (in which case, the Warrant Agent will provide advance notice to the Company if it will not take an action required by this Agreement because of the advice or opinion of such counsel). The Warrant Agent shall not be held to have notice of any change of authority of any person, until receipt of written notice thereof from the Company. (d) Limitation of Liability. The Warrant Agent shall be liable hereunder only for its own gross negligence, bad faith or willful misconduct (each as determined by a final, non-appealable judgment of a court of competent jurisdiction). Notwithstanding anything contained herein to the contrary, the Warrant Agent’s aggregate liability during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement, or from all services provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid hereunder by the Company to the Warrant Agent as fees and charges, but not including reimbursable expenses, during the twelve (12) months immediately preceding the event for which recovery from Warrant Agent is being sought. (e) Consequential Damages."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b101"], "char_count": 3687, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "63a111e1a90137e8b6456989e29fd0d1db18c166ece4bd834de1fdb20c01a53c", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 101, "char_end": 14765, "char_start": 11078, "fragment_sha256": "27f05502ba9dbe41a3db97927c1d3d62a7f3fb72d4a63fee0b426268f77859fa", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Neither party to this Agreement shall be liable to the other party for any consequential, indirect, special or incidental damages under any provisions of this Agreement or for any consequential, indirect, punitive, special or incidental damages arising out of any act or failure to act hereunder even if that party has been advised of or has foreseen the possibility of such damages. (f) Survival. The Parties’ obligations pursuant to this Section 7.05 shall survive the termination, exercise or expiration of the Warrants, the termination of this Agreement and the resignation, replacement or removal of the Warrant Agent. Section 7.06 Successor Warrant Agent. (a) Company to Provide and Maintain Warrant Agent. The Company agrees for the benefit of the Holders that there shall at all times be a Warrant Agent hereunder (which may include the Company) until all the Warrants have been exercised or are no longer exercisable. (b) Resignation and Removal. The Warrant Agent may at any time resign by giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided, however, that such date shall not be less than thirty (30) days after the date on which such notice is given unless the Company otherwise agrees in writing. In the event the transfer agency relationship in effect between the Company and the Warrant Agent terminates, the Warrant Agent will be deemed to have resigned automatically, subject to the second clause of the preceding sentence, and will be discharged from its duties under this Agreement as of the effective date of such termination, and the Company shall be responsible for sending any required notice. The Warrant Agent may be removed at any time by the filing with it of an instrument in writing signed by or on behalf of the Company and specifying such removal and the date when it shall become effective, which date shall not be fewer than thirty (30) days after such notice is given unless the Warrant Agent otherwise agrees in writing. (c) The Company to Appoint Successor. In the event that at any time the Warrant Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or shall commence a voluntary case under the federal bankruptcy laws, as now or hereafter constituted, or under any other applicable federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court shall have been entered in respect of the Warrant Agent in an involuntary case under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or similar law, or a decree or order by a court shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b101"], "char_count": 3843, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "062a1c886f4c79c4aaf8a161f6dde092509c44e38e2f9d78e53660e92f215944", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 101, "char_end": 18608, "char_start": 14765, "fragment_sha256": "27f05502ba9dbe41a3db97927c1d3d62a7f3fb72d4a63fee0b426268f77859fa", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Notwithstanding the foregoing, if the Company fails to make such appointment within a period of thirty (30) days after giving notice of such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent, then the incumbent Warrant Agent may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent. Pending appointment of a successor to such Warrant Agent either by the Company or by such court, the duties of the Warrant Agent shall be carried out by the Company. (d) Successor to Expressly Assume Duties. Any successor Warrant Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all the rights and obligations of such predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder; provided that, the predecessor Warrant Agent shall not be required to make any additional expenditure or assume any additional liability in connection with the foregoing. (e) Successor by Merger. Any Person into which the Warrant Agent hereunder may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Warrant Agent shall be a party, or any Person to which the Warrant Agent shall sell or otherwise transfer all or substantially all of its assets and business, shall be the successor Warrant Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the Parties. Section 7.07 Bank Accounts. All funds received by the Warrant Agent under this Agreement that are to be distributed or applied by the Warrant Agent in the performance of services hereunder (the “Funds”) shall be held by the Warrant Agent as agent for the Company and deposited in one or more bank accounts to be maintained by the Warrant Agent in its name as agent for the Company. Until paid pursuant to this Agreement, the Warrant Agent may hold or invest the Funds through such accounts in: (a) funds backed by obligations of, or guaranteed by, the United States of America; (b) debt or commercial paper obligations rated A-1 or P-1 or better by S&P Global Inc. (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”), respectively; (c) Government and Treasury backed AAA-rated Fixed NAV money market funds that comply with Rule 2a-7 of the Investment Company Act of 1940, as amended; or (d) short term certificates of deposit, bank repurchase agreements, and bank accounts with commercial banks with Tier 1 capital exceeding $1 billion, or with an investment grade rating by S&P (LT Local Issuer Credit Rating), Moody’s (Long Term Rating) and Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.). The Warrant Agent shall have no responsibility or liability for any diminution of the Funds that may result from any deposit or investment made in accordance with this paragraph, including any losses resulting from a default by any bank, financial institution or other third party. The Warrant Agent may from time to time receive interest, dividends or other earnings in connection with such deposits or investments. The Warrant Agent shall not be obligated to pay such interest, dividends or earnings to the Company, any Holder or any other party. Section 7.08 Delivery of Warrant Exercise Price."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b101"], "char_count": 2085, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "451cf37873fa1af98de79cc1e281210d8f76bf0e41d1a29d2e495ba2819df1d3", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 101, "char_end": 20693, "char_start": 18608, "fragment_sha256": "27f05502ba9dbe41a3db97927c1d3d62a7f3fb72d4a63fee0b426268f77859fa", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "WARRANT AGENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s31", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Warrant Agent shall forward funds received for Warrant exercises in a given month by the fifth (5th) Business Day of the following month or by one (1) Business Day upon written request of the Company by wire transfer to an account designated by the Company. Section 7.09 Further Assurances. The Company shall perform, acknowledge and deliver or cause to be performed, acknowledged and delivered all such further and other acts, documents, instruments and assurances as may be reasonably required by the Warrant Agent for the carrying out or performing by the Warrant Agent of the provisions of this Agreement. Section 7.10 Force Majeure. Notwithstanding anything to the contrary contained herein, the Company and Warrant Agent will not be liable for any delays or failures in performance to the extent that they result from acts beyond its reasonable control including, without limitation, acts of God, epidemics, pandemics, terrorist acts (including cyberbreaches of any type of a Party’s electronic information systems), shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest. Section 7.11 Confidentiality. The Warrant Agent and the Company agree that all books, records, information and data pertaining to the business of the other party, including inter alia, personal, non-public Holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement including the fees for services set forth in the attached schedule shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law, including, without limitation, pursuant to subpoenas from state, or federal or national government authorities (e.g., in divorce and criminal actions); provided, that for the avoidance of doubt, this Agreement may be filed by the Company with the SEC (without including any fee information)."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b110"], "char_count": 1410, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "77edf65755dce6e4e54ee1cf0590d630909beea3731d54c2f0950bc53c8e77cc", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "MISCELLANEOUS"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 110, "char_end": 1410, "char_start": 0, "fragment_sha256": "0da0862231dfed4c76849e445b4d5429181f3148a38856df8fd3e402d71fbe4b", "heading_path": ["EXHIBIT 4.1", "Exhibit 4.1", "WER0 = the applicable Warrant Exercise Rate in effect immediately prior to the open of business on the Ex-Date of the Spin-Off;", "ARTICLE V", "REGISTRATION OF WARRANT SHARES", "MISCELLANEOUS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s33", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 8.01 Persons Benefiting. Nothing in this Agreement is intended or shall be construed to confer upon any Person other than the Company, the Warrant Agent and the Holders any right, remedy or claim under or by reason of this Agreement or any part hereof. Section 8.02 Rights of Holders. Holders of unexercised Warrants, as such, have no rights as shareholders and are not entitled to exercise any rights whatsoever as shareholders of the Company, including, but not limited to the rights to (a) receive dividends or other distributions, (b) receive notice of or vote at any meeting of the shareholders, (c) consent to any action of the shareholders, (d) receive notice of any other proceedings of the Company or (e) exercise any preemptive right. Section 8.03 Notices. Any notice or communication between the parties to this Agreement shall be in writing and delivered in Person or mailed by first-class mail with overnight delivery service. Notices sent by mail as described in this section should be addressed as follows: if to the Company: Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1000 Tempe, AZ Attention: Chief Financial Officer and Head of Legal and email to: legal@opendoor.com With a copy to: Latham & Watkins LLP 650 Town Center Drive, 20th Floor Costa Mesa, CA 92626 Attention: Ross McAloon and email to: ross.mcaloon@lw.com and Conv-Ex Advisors Limited 80 Coleman Street London"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b113"], "char_count": 327, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f8fd32b212b2a7a0c6c9cfda04680fcb39ae46f2c8e56c0d1f0a60103050c0e6", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EC2R 5BJ"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 113, "char_end": 327, "char_start": 0, "fragment_sha256": "58693f7a668059bfbed4826225dcc902227322d6ca3b208f754454441d49413b", "heading_path": ["EC2R 5BJ"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p55", "passage_kind": "narrative", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s34", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "United Kingdom Email: calculation.agent@conv-ex.com Attention: Calculation Agency Team if to the Warrant Agent: Equiniti Trust Company, LLC, 28 Liberty Street, 53rd floor New York, NY 10005 Email: reorgwarrants@equiniti.com Attention: Corporate Actions/Warrants with a copy to: Conv-Ex Advisors Limited 80 Coleman Street London"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b115"], "char_count": 1884, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e80e518bf7c9738f8d54f6ca2455e200990ef8f3fac58d30175cb2615af13a3f", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EC2R 5BJ"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 115, "char_end": 1884, "char_start": 0, "fragment_sha256": "0318206c09ae85b2455a5c5619a3ce8fa20f8fefc32388e9635cee61eb8a4a99", "heading_path": ["EC2R 5BJ"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p56", "passage_kind": "narrative", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "United Kingdom Email: calculation.agent@conv-ex.com Attention: Calculation Agency Team The Company or the Warrant Agent each by notice to the other may designate in writing additional or different physical addresses or e-mail addresses for subsequent notices or communications. Except for any notice which may be given by issuance of a press release pursuant to the terms of this Agreement, any notice or communication mailed to a Holder shall be mailed to the Holder at the Holder’s address as it appears on the Warrant Register, and shall be sufficiently given if so mailed within the time prescribed. Failure to deliver a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is delivered in the manner provided above, it is duly given when sent, whether or not the addressee receives it. Notwithstanding any other provision of this Agreement, where this Agreement provides for notice of any event to the Holders, such notice shall be sufficiently given to any Holder of a Warrant represented by a Global Warrant if given to the Depositary pursuant to the customary procedures of the Depositary. Except for any notice which provides for a shorter period pursuant to the terms of this Agreement, any notice delivered pursuant to this Agreement that restricts the ability of a Holder to exercise its Warrant not otherwise described in this Agreement shall only be effective at least five (5) Business Days after the delivery of such notice. Notwithstanding anything to the contrary herein, issuance by the Company of a press release in accordance with its customary procedures or as prescribed by this Agreement shall satisfy any requirement to provide public notice or notice in writing or by email under this Agreement (except for notices required to be delivered to the Warrant Agent)."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b117"], "char_count": 453, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cc9eb6a34081652a7a48876828fdc2ceb4b86b64c1a2ccede0a1848b286ecab6", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EC2R 5BJ"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 117, "char_end": 453, "char_start": 0, "fragment_sha256": "5f378c6ba73d9b80e3668fcae5446dad6802133c84419d6616a5b8d276165428", "heading_path": ["EC2R 5BJ"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p57", "passage_kind": "narrative", "passage_sequence": 57, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 8.04 Governing Law. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS AGREEMENT, THE WARRANT CERTIFICATES AND THE WARRANTS. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE WARRANT CERTIFICATES AND THE WARRANTS OR THE TRANSACTIONS CONTEMPLATED HEREBY."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b118"], "char_count": 3962, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2339573acbe638f8b495b91bea58c528aa7cbd8a146f94b498dc7890f66fc5f2", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EC2R 5BJ"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 118, "char_end": 3962, "char_start": 0, "fragment_sha256": "e79abaae7ebda9d9a48c6f7ba50c9d675a60c828d2c1066493fafeb04b5f186f", "heading_path": ["EC2R 5BJ"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p58", "passage_kind": "narrative", "passage_sequence": 58, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Section 8.05 Successors. All agreements of the Company in this Agreement and the Warrant Certificates shall bind its successors. All agreements of the Warrant Agent in this Agreement shall bind its successors. Section 8.06 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument. Counterparts may be delivered via facsimile, PDF, electronic mail (including any electronic signature covered by the U.S. federal ESIGN of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, including docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. Section 8.07 Severability. The provisions of this Agreement are severable, and if any clause or provision shall be held invalid, illegal or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect in that jurisdiction only such clause or provision, or part thereof, and shall not in any manner affect such clause or provision in any other jurisdiction or any other clause or provision of this Agreement in any jurisdiction; provided, however, that if such excluded provision shall materially and adversely affect the rights, immunities, liabilities, duties or obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice to the Company. Section 8.08 Withholding Rights. In the event that the Company, the Warrant Agent or their agents determine that they are obligated to withhold or deduct any tax or other governmental charge under any applicable law on behalf of a Holder (whether upon the distribution of the Warrants under this Agreement, upon any adjustment made pursuant to Article IV, upon exercise or otherwise), the Company, the Warrant Agent or their agents shall be entitled, but not obligated, to deduct and withhold such amount by withholding a portion or all of the Warrants or Warrant Shares otherwise deliverable or by otherwise using any property (including, without limitation, Warrants, Warrant Shares or cash) that would otherwise be delivered to or is owned by such Holder, in each case in such amounts as they deem necessary to meet their withholding obligations, and shall also be entitled, but not obligated, to sell all or a portion of such withheld Warrants, Warrant Shares or such other property of the Holder by public or private sale in such amounts and in such manner as they deem necessary and practicable to pay such taxes and charges. In such case, (i) the Company, the Warrant Agent or their agents, as applicable, shall remit to the applicable tax or other authority the required withholding amount or other charge, and (ii) any withheld amounts (and, if applicable in connection with adjustments pursuant to Article IV, other property) shall be treated for all purposes of this Agreement as having been distributed to the Holders in respect of which such deduction and withholding was made. Each Holder shall submit (and shall at all times be eligible to deliver) to the Company or the Warrant Agent on or prior to the date that it becomes a Holder, a properly executed IRS Form W-9 or appropriate IRS Form W-8, as applicable and any other tax form or certification reasonably requested by the Company or the Warrant Agent to establish an exemption from withholding tax on payments and deliveries hereunder as well as an exemption from, or a reduction in the rate of, U.S. withholding that may apply to any dividend or constructive dividend (e.g., under Section 305(c) of the Internal Revenue Code of 1986, as amended), and, in each case, shall promptly update such form or certification upon reasonable request or if it expires or becomes obsolete or inaccurate in any respect."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b118"], "char_count": 2904, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a491899cac65453a6644457a9fc317eea7b2a269be71884f3ebfaaff37ea9ffa", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EC2R 5BJ"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 118, "char_end": 6866, "char_start": 3962, "fragment_sha256": "e79abaae7ebda9d9a48c6f7ba50c9d675a60c828d2c1066493fafeb04b5f186f", "heading_path": ["EC2R 5BJ"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p59", "passage_kind": "narrative", "passage_sequence": 59, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s35", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "Notwithstanding any provision to the contrary, the Company, the Warrant Agent or their agents (i) may determine in their reasonable discretion the amount and the timing of any such dividend or constructive dividend and (ii) shall be authorized to take any actions that may be necessary or appropriate to comply with all applicable tax withholding and reporting requirements under applicable law. Section 8.09 Calculations; Calculation Agent. Conv-Ex Advisors Limited shall be the initial Calculation Agent, pursuant and subject to the terms of the Calculation Agency Agreement, dated on or about the date of this Agreement. The Calculation Agent will be responsible for making all calculations and other determinations specified to be made by it under this Agreement and the Warrants, and any calculations and determinations not so specified will be the responsibility of the Company or an Independent Advisor. All calculations and determinations will be made in good faith and, absent manifest error, such calculations and determinations will be final and binding on the Company, the Warrant Agent and the Holders. The Company will provide with reasonable notice a schedule of the calculations and determinations made by the Company, the Calculation Agent or an Independent Advisor, as applicable, to the Warrant Agent. The Warrant Agent is entitled to rely conclusively upon the accuracy of the calculations and determinations made by the Company, the Calculation Agent and any Independent Advisor appointed in accordance with this Agreement without independent verification. Section 8.10 Limited Responsibility of Calculation Agent and Independent Advisor. The Calculation Agent (and any Independent Advisor appointed in connection with the Warrants) is acting exclusively as an agent for, and upon request by, the Company. Neither the Calculation Agent (acting in such capacity) nor any Independent Advisor appointed in connection with the Warrants (acting in such capacity) shall have any relationship of agency or trust with, nor shall the Calculation Agent (acting in such capacity) nor any Independent Advisor appointed as aforesaid shall be liable to nor shall they incur any liability as against, the Holders or the Warrant Agent. Section 8.11 Entire Agreement. This Agreement and the Warrant Certificate contain the entire agreement and understanding among the parties hereto with respect to the subject matter hereof, and supersede all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. Notwithstanding anything to the contrary contained in this Agreement, in the event of an inconsistency between any provision in this Agreement and any provision in a Warrant Certificate, as it may from time to time be amended, the terms of this Agreement shall prevail."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b122"], "char_count": 228, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a44c6d9606da84d2fce85a893ef19e3a195fb92c16113eff52e42d99f4738bfe", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EC2R 5BJ", "[Signature pages follow]"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 122, "char_end": 228, "char_start": 0, "fragment_sha256": "d9339c06be65055df2fdbec0fff8baf028e46556bc7ea2dedc887feea2398848", "heading_path": ["EC2R 5BJ", "[Signature pages follow]"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p60", "passage_kind": "narrative", "passage_sequence": 60, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s36", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the date first written above. OPENDOOR TECHNOLOGIES INC. By: /s/ Christy Schwartz Name: Christy Schwartz Title: Interim Chief Financial Officer"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b124"], "char_count": 117, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "feecf0d0001a867d77defc48c723d9870aa517126fe5403d022a1767e2662e81", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EC2R 5BJ", "[Signature pages follow]", "Opendoor Technologies Inc. – Signature Page to Warrant Agreement"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 124, "char_end": 117, "char_start": 0, "fragment_sha256": "61891901e4b9061a469cafec733b4ede741ec2ca5e797ae5355506d02db31a37", "heading_path": ["EC2R 5BJ", "[Signature pages follow]", "Opendoor Technologies Inc. – Signature Page to Warrant Agreement"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p61", "passage_kind": "narrative", "passage_sequence": 61, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s37", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "EQUINITI TRUST COMPANY, LLC as Warrant Agent By: /s/ Susan R. Hogan Name: Susan R. 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OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.\n\nTRANSFERS OF THIS GLOBAL WARRANT SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE WARRANT AGREEMENT REFERRED TO BELOW.\n\nPROfilePageNumberReset%Num%2%%% No. [ ] Certificate for [ ] Series [K][A][Z] Warrants"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b136"], "char_count": 3923, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d207d5c4d7b51001239ce59074892625a538840f5d1914f6a8f2dda9cc4069c", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT A", "FORM OF WARRANT", "[Global Securities Legend]", "OPENDOOR TECHNOLOGIES INC."], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 136, "char_end": 3923, "char_start": 0, "fragment_sha256": "f665c1307b18e77cfbfe73ccc22c8ee77f1ffa8872a460be7abe2109e5cde344", "heading_path": ["EXHIBIT A", "FORM OF WARRANT", "[Global Securities Legend]", "OPENDOOR TECHNOLOGIES INC."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p64", "passage_kind": "narrative", "passage_sequence": 64, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s43", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "THIS CERTIFIES THAT [ ], or its registered assigns, is the registered holder of the number of Series [K] [A] [Z] Warrants set forth above (the “Warrants”). Each Series [K] [A] [Z] Warrant entitles the holder thereof (the “Holder”), at its option and subject to the provisions contained herein and in the Warrant Agreement referred to below, to purchase from Opendoor Technologies Inc., a corporation organized under the laws of the State of Delaware (including any successor thereto, the “Company”) a number of shares of common stock, par value of $0.0001 per share, of the Company (the “Common Stock”) equal to the Series [K] [A] [Z] Warrant Exercise Rate (which is initially one (1) at an initial exercise price of $[9.00][13.00][17.00] per Warrant (the “Series [K] [A] [Z] Warrant Exercise Price”), payable in cash as described in the Warrant Agreement. This Warrant Certificate shall terminate and become void as of the earlier of (x) the Close of Business, on the Expiration Date for the Series [K] [A] [Z] Warrants or (y) upon the exercise hereof as to all the shares of Common Stock subject hereto. The number of shares issuable upon exercise of the Series [K] [A] [Z] Warrants shall be subject to adjustment from time to time as set forth in the Warrant Agreement. This Warrant Certificate is issued under and in accordance with a Warrant Agreement, dated as of November 21, 2025 (the “Warrant Agreement”), between the Company and Equiniti Trust Company, LLC (the “Warrant Agent,” which term includes any successor Warrant Agent under the Warrant Agreement), and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. The Warrant Agreement is hereby incorporated herein by reference and made a part hereof. Reference is hereby made to the Warrant Agreement for a full statement of the respective rights, limitations of rights, duties and obligations of the Company, the Warrant Agent and the Holders of the Warrants. In the event of an inconsistency between the terms of this Warrant Certificate and the Warrant Agreement, the terms of the Warrant Agreement shall prevail. The Company shall amend any provisions of the Warrant Certificate in compliance with Section 4.05 or 4.06 of the Warrant Agreement. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Warrant Agreement. A copy of the Warrant Agreement may be obtained for inspection by the Holder hereof upon written request to the Warrant Agent, Equiniti Trust Company, LLC, 28 Liberty Street, 53rd floor, New York, NY 10005. Subject to the terms of the Warrant Agreement, the Series [K] [A] [Z] Warrants may be exercised in whole or in part prior to 5:00 p.m., New York City time, on any Business Day (each, an “Exercise Date”), in accordance with Section 3.04 of the Warrant Agreement; provided however, that no Warrant shall be exercisable after the Close of Business on the Expiration Date for the Series [K] [A] [Z] Warrants, as it may be adjusted in accordance with the Warrant Agreement. If the date specified as the Exercise Date is not a Business Day, the Series [K] [A] [Z] Warrants will be deemed to be received and exercised on the next succeeding Business Day. If a notice of Exercise of Warrants is received or deemed to be received after the Close of Business on the Expiration Date for the Series [K] [A] [Z] Warrants, the exercise thereof will be null and void and any funds delivered to the Warrant Agent will be returned to the Holder as soon as practicable. In no event will interest accrue on funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. Any otherwise valid exercise of Warrants submitted after any applicable deadline for exercise may, in the sole and absolute discretion of the Company, be accepted and honored."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b136"], "char_count": 2239, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fac3f8688a82b9f970ce4db6832bae67fcbe117f2f762a5ebb9c036e54240f30", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT A", "FORM OF WARRANT", "[Global Securities Legend]", "OPENDOOR TECHNOLOGIES INC."], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 136, "char_end": 6162, "char_start": 3923, "fragment_sha256": "f665c1307b18e77cfbfe73ccc22c8ee77f1ffa8872a460be7abe2109e5cde344", "heading_path": ["EXHIBIT A", "FORM OF WARRANT", "[Global Securities Legend]", "OPENDOOR TECHNOLOGIES INC."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p65", "passage_kind": "narrative", "passage_sequence": 65, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s43", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "The Company’s decision with respect to any such exercise shall be determinative. Notwithstanding the foregoing, holders of Series [K] [A] [Z] Warrants will be able to exercise their Warrants only if (i) the Common Stock Shelf Registration Statement relating to the Warrant Shares issuable upon conversion of the Series [K] [A] [Z] Warrants is effective and not subject to suspension pursuant to the Warrant Agreement or a Net Exercise Period is in effect for the Series [K] [A] [Z] Warrants and (ii) such securities are qualified for sale or exempt from qualification under the applicable securities laws of any relevant states or other jurisdictions; Upon any partial exercise of the Series [K] [A] [Z] Warrants, there shall be countersigned and issued to the Holder hereof a new Warrant Certificate representing those Warrants which were not exercised. This Warrant Certificate may be exchanged at the office of the Warrant Agent by presenting this Warrant Certificate properly endorsed with a request to exchange this Warrant Certificate for other Warrant Certificates evidencing an equal number of Warrants. No fractional Warrant Shares will be issued upon the exercise of the Warrants. If any fraction of a Warrant Share would be issuable upon the exercise of Series [K] [A] [Z] Warrants, then the Company shall round down the total number of shares of Common Stock to be issued to the relevant Holder to the nearest Whole Number. All Warrant Shares issuable upon exercise of the Series [K] [A] [Z] Warrants shall, upon such issue, be duly and validly issued and fully paid and non-assessable. The Holder in whose name a Warrant Certificate is registered may be deemed and treated by the Company and the Warrant Agent as the absolute owner of the Warrant Certificate for all purposes whatsoever and neither the Company nor the Warrant Agent shall be affected by notice to the contrary. Holders of Series [K] [A] [Z] Warrants do not have any rights as a stockholder with respect to the shares of Common Stock issuable upon exercise of the Warrants prior to the time such Warrants are validly exercised in accordance with all the terms and conditions of this Warrant Agreement, and the Series [K] [A] [Z] Warrant Exercise Price is paid."} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b140"], "char_count": 217, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c760d1b5624b32b9634734a47b4de982bf4bab5a52fdf4dd092185bacf4be9ac", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT A", "FORM OF WARRANT", "[Signature page follows]"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 140, "char_end": 217, "char_start": 0, "fragment_sha256": "5ee324a33dcd7c524aa26879f812916f8b3d18271185e9c9a80c8a9d58e1c703", "heading_path": ["EXHIBIT A", "FORM OF WARRANT", "[Signature page follows]"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p66", "passage_kind": "narrative", "passage_sequence": 66, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s44", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "This Warrant Certificate shall not be valid or obligatory for any purpose until it shall have been countersigned by the Warrant Agent. OPENDOOR TECHNOLOGIES INC By: Name: Title: DATED: November 21, 2025 Countersigned:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b142"], "char_count": 33, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e20a5def627fb3d66ad9ac7e7b3f47bff50db88c56b5f62c34a07b3413273776", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EQUINITI TRUST COMPANY, LLC,"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 142, "char_end": 33, "char_start": 0, "fragment_sha256": 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and the Warrant Agreement therein referred to, surrenders all right, title and interest in the number of Series [K] [A] [Z] Warrants exercised hereby to Opendoor Technologies Inc. and directs that the shares of Common Stock deliverable upon the exercise of such Warrants, and interests in any Global Warrant or Definitive Warrant representing unexercised Warrants, be registered or placed in the name and at the address specified below and delivered thereto. If other than the registered holder of the Series [K] [A] [Z] Warrants, the undersigned must pay all transfer or similar taxes, assessments or similar governmental charges in connection with any exercise of such Warrants. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Warrant Agreement. A. Number of Series [K] [A] [Z] Warrants exercised hereby: ____________________ [B. Warrant Exercise Price: $[•] C. Aggregate Series [K] [A] [Z] Warrant Exercise Price in respect of number of Warrants exercised hereby: $_______________(= A x B)]1 Date: (Name of Owner) (Signature of Owner)2 (Street Address) (City) (State) (Zip Code) Securities to be issued to: If held in book-entry form through the Depositary: Depositary Account Number: 1 To be omitted if Net Exercise Period is in effect. 2 The signature must correspond with the name as written upon the face of the within Warrant Certificate in every particular, without alteration or enlargement or any change whatsoever. Name of Agent Member: If in definitive or uncertificated form: Social security or identifying number: Name: Street Address: City, State and Zip Code: Any unexercised Series [K] [A] [Z] Warrants evidenced by the exercising Holder’s interest in the applicable Global Warrant or Definitive Warrant, as the case may be, to be issued to: If in book-entry form through the Depositary: Depositary Account Number: Name of Agent Member: If in definitive form: Social security or identifying number: Name: Street Address: City, State and Zip Code:"} +{"artifact_role": "ex4-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#b151"], "char_count": 855, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "184ef96a116f8e09b53a95f465c56579e7df62f167b847ec824e2b9acd54534a", "derivation_id": "f90cf72d32dde65e451611c659eef421ec2ab5bf6a1dd806b5bf4638550c4b14", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "document_type": "governance", "exhibit_type": "EX-4.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["FORM OF Series [K] [A] [Z] WARRANT TRANSFER"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "block_sequence": 151, "char_end": 855, "char_start": 0, "fragment_sha256": "2c92465da50ea2ef0947b4133880d7ee37bee70ac4db222acabfd5fc7b2e5506", "heading_path": ["FORM OF Series [K] [A] [Z] WARRANT TRANSFER"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#p70", "passage_kind": "narrative", "passage_sequence": 70, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex4-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex4-1.htm", "table_id": null, "text": "For value received, the undersigned hereby sells, assigns and transfers unto the right to purchase [ ] Warrant Shares representing shares of Common Stock, par value $0.0001 per share, of Opendoor Technologies Inc. (the “Company”) pursuant to the attached Warrant Certificate and does hereby irrevocably constitute and appoint attorney to transfer the Series [K] [A] [Z] Warrant, or such portion as is transferred hereby, on the books of the Company with full power of substitution in the premises. The undersigned requests said attorney to issue to the transferee a Warrant Certificate evidencing such transfer and to issue to the undersigned a new Warrant Certificate evidencing the right to purchase Warrant Shares for the balance not so transferred, if any. 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Scottsdale Road, Suite 1000 Tempe, AZ 85288 Re: Registration Statement on Form S-3 (Registration No. 333-279080) To the addressee set forth above: We have acted as special counsel to Opendoor Technologies Inc., a Delaware corporation (the \u201cCompany\u201d), in connection with the proposed issuance of up to 99,295,146 shares of Company\u2019s common stock, par value $0.0001 per share (the \u201cWarrant Shares\u201d), issuable upon the exercise of the Company\u2019s Series K warrants, Series A warrants and Series Z warrants (each, a \u201cWarrant\u201d or collectively, the \u201cWarrants\u201d). The Warrant Shares are included in a registration statement on Form S-3 under the Securities Act of 1933, as amended (the \u201cAct\u201d), filed with the Securities and Exchange Commission (the \u201cCommission\u201d) on May 2, 2024 (Registration No. 333-279080) (as amended, the \u201cRegistration Statement\u201d) and are being offered pursuant to a base prospectus dated May 2, 2024 (the \u201cBase Prospectus\u201d) and a prospectus supplement dated November 21, 2025, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the \u201cProspectus\u201d). The Warrants are being issued pursuant to that certain Warrant Agreement, dated as of November 21, 2025 (the \u201cWarrant Agreement\u201d), between the Company and Equiniti Trust Company, LLC, as warrant agent. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the Prospectus, other than as expressly stated herein with respect to the issuance of the Warrant Shares. As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the \u201cDGCL\u201d), and we express no opinion with respect to any other laws." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#b8", + "block_sequence": 8, + "block_sha256": "c289d2890e14dc575111529b46aea289998f09564f66724165818b44f5d23ebc", + "block_type": "heading", + "char_count": 24, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", + "block_sequence": 8, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "e474f611e4677e0cc1202ddea8903231b4c579abda82f3ad5e7f2557942e77d5", + "heading_path": [ + "EXHIBIT 5.1", + "November 21, 2025 Page 2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#s4", + "table": null, + "text": "November 21, 2025 Page 2" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#b9", + "block_sequence": 9, + "block_sha256": "f28d1b1423c551050780776b485d64ddb221ff53b9a5a2bfa9dfee406b52faf1", + "block_type": "paragraph", + "char_count": 2032, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", + "block_sequence": 9, + "char_end": 2032, + "char_start": 0, + "fragment_sha256": "a6ca5a5483c2f282cbf040a1f8dbc723660b14b2f07d454078ee880ac06f2429", + "heading_path": [ + "EXHIBIT 5.1", + "November 21, 2025 Page 2" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#s4", + "table": null, + "text": "Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Warrant Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the Warrant holders, and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Warrants and the Warrant Agreement, as applicable, the issuance of the Warrant Shares will have been duly authorized by all necessary corporate action of the Company and the Warrant Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that (i) the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL, (ii) the Warrants and the Warrant Agreement have been duly executed and delivered by the Company and constitute valid and legally binding obligations and (iii) upon the issuance of any of the Warrant Shares, the total number of shares of Common Stock issued and outstanding will not exceed the total number of shares of Common Stock that the Company is then authorized to issue under its certificate of incorporation and by the board of directors of the Company in connection with the offering contemplated by the Registration Statement and the Prospectus. This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Company\u2019s Current Report on Form 8-K dated November 21, 2025 and to the reference to our firm contained in the Prospectus under the heading \u201cLegal Matters.\u201d In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. 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Document created using Broadridge PROfile 25.10.1.5333 Copyright 1995 - 2025 Broadridge"} +{"artifact_role": "ex5-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#b7"], "char_count": 2182, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "42970ae7fd8000ed6ba85568a8ea8136b4ca0f1e52cea7f44f15ff5c3a15960a", "derivation_id": "beaefcadca1df1b33bd90f6598569c2f3e1c157994d393d2f973f04688ba190a", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", "document_type": "other", "exhibit_type": "EX-5.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 5.1", "Exhibit 5.1"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", "block_sequence": 7, "char_end": 2182, "char_start": 0, "fragment_sha256": "83df12a410f5e9039f531f8c721a7448215728a459ebf3fd2286c5706e2225ca", "heading_path": ["EXHIBIT 5.1", "Exhibit 5.1"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#s3", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex5-1.htm", "table_id": null, "text": "November 21, 2025 Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1000 Tempe, AZ 85288 Re: Registration Statement on Form S-3 (Registration No. 333-279080) To the addressee set forth above: We have acted as special counsel to Opendoor Technologies Inc., a Delaware corporation (the “Company”), in connection with the proposed issuance of up to 99,295,146 shares of Company’s common stock, par value $0.0001 per share (the “Warrant Shares”), issuable upon the exercise of the Company’s Series K warrants, Series A warrants and Series Z warrants (each, a “Warrant” or collectively, the “Warrants”). The Warrant Shares are included in a registration statement on Form S-3 under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on May 2, 2024 (Registration No. 333-279080) (as amended, the “Registration Statement”) and are being offered pursuant to a base prospectus dated May 2, 2024 (the “Base Prospectus”) and a prospectus supplement dated November 21, 2025, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the “Prospectus”). The Warrants are being issued pursuant to that certain Warrant Agreement, dated as of November 21, 2025 (the “Warrant Agreement”), between the Company and Equiniti Trust Company, LLC, as warrant agent. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the Prospectus, other than as expressly stated herein with respect to the issuance of the Warrant Shares. As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the “DGCL”), and we express no opinion with respect to any other laws."} +{"artifact_role": "ex5-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#b9"], "char_count": 2032, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f28d1b1423c551050780776b485d64ddb221ff53b9a5a2bfa9dfee406b52faf1", "derivation_id": "beaefcadca1df1b33bd90f6598569c2f3e1c157994d393d2f973f04688ba190a", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", "document_type": "other", "exhibit_type": "EX-5.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 5.1", "November 21, 2025 Page 2"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", "block_sequence": 9, "char_end": 2032, "char_start": 0, "fragment_sha256": "a6ca5a5483c2f282cbf040a1f8dbc723660b14b2f07d454078ee880ac06f2429", "heading_path": ["EXHIBIT 5.1", "November 21, 2025 Page 2"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm#s4", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex5-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex5-1.htm", "table_id": null, "text": "Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Warrant Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the Warrant holders, and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Warrants and the Warrant Agreement, as applicable, the issuance of the Warrant Shares will have been duly authorized by all necessary corporate action of the Company and the Warrant Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that (i) the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL, (ii) the Warrants and the Warrant Agreement have been duly executed and delivered by the Company and constitute valid and legally binding obligations and (iii) upon the issuance of any of the Warrant Shares, the total number of shares of Common Stock issued and outstanding will not exceed the total number of shares of Common Stock that the Company is then authorized to issue under its certificate of incorporation and by the board of directors of the Company in connection with the offering contemplated by the Registration Statement and the Prospectus. This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Company’s Current Report on Form 8-K dated November 21, 2025 and to the reference to our firm contained in the Prospectus under the heading “Legal Matters.” In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. 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(Nasdaq: OPEN) (\u201cOpendoor\u201d or the \u201cCompany\u201d) today announced the distribution of warrants to purchase the Company\u2019s common stock to its registered stockholders and certain convertible noteholders on Friday, November 21, 2025 (the \u201cDistribution Date\u201d), in accordance with the previously announced special dividend in the form of warrants. As previously announced, each stockholder of record as of 5:00 p.m. New York City time on November 18, 2025 (the \u201cRecord Date\u201d) received three series of warrants\u2014Series K, Series A, and Series Z\u2014one (1) warrant of each series for every thirty (30) shares of the Company\u2019s common stock held, rounded down to the nearest whole number. \u201cThis warrant dividend is a statement of confidence \u2014 in our business, in our plan, and in the long-term value we\u2019re building,\u201d said Kaz Nejatian, Chief Executive Officer of Opendoor. \u201cFor too long, shareholders have been treated as an afterthought. We\u2019re reversing that. Real alignment isn\u2019t a slogan \u2014 it\u2019s structural. This dividend puts that principle into practice and is a concrete step in rebuilding our relationship with shareholders through actions, not promises.\u201d The warrants were distributed by the Company\u2019s warrant agent and are exercisable for cash on and following the Distribution Date, in accordance with the terms of the warrant agreement, subject to the Company\u2019s ability to change the exercise method to net exercise as provided in the warrant agreement. A form of warrant agreement was filed as an exhibit to the Form 8-A warrant registration statement with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) on November 21, 2025." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b8", + "block_sequence": 8, + "block_sha256": "406bb24a022d6516928c881b56c90f56c2c1e2360af98019ebc7cd01a44aea56", + "block_type": "heading", + "char_count": 13, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 8, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "91361c8f6aa84bd2d1ea87411a1ca6e797101162e74a5c1939c7e65901575f7f", + "heading_path": [ + "EXHIBIT 99.1", + "Warrant Terms" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s5", + "table": null, + "text": "Warrant Terms" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b9", + "block_sequence": 9, + "block_sha256": "fcdae2f184c63d5a57456aa57b3ba9c99a1a3d7ca5d6efed64c68604131750d0", + "block_type": "paragraph", + "char_count": 1189, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 9, + "char_end": 1189, + "char_start": 0, + "fragment_sha256": "72d96bbdfccefe0d480dac6d024ac1e68e12e9cc0bbb204bbbe8e371a22d8edb", + "heading_path": [ + "EXHIBIT 99.1", + "Warrant Terms" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s5", + "table": null, + "text": "\u25cf Eligibility: To be eligible to receive warrants, an investor must have been a shareholder of record as of the November 18, 2025 Record Date. Investors should contact their brokers with any questions regarding their holder status as of the Record Date. \u25cf Distribution Ratio: For each thirty (30) shares of common stock held as of the Record Date, a shareholder of record as of the Record Date received one (1) Series K warrant, one (1) Series A warrant, and one (1) Series Z warrant (rounded down to the nearest whole number). No fractional warrants were issued. \u25cf Exercise Prices: $9.00 per Series K warrant; $13.00 per Series A warrant; $17.00 per Series Z warrant. \u25cf Exercise Method: Cash exercise; however, the Company may, in its sole discretion, implement a net exercise provision for any series of warrants as provided in the warrant agreement. \u25cf Expiration: Each series will expire at 5:00 p.m. New York City time on November 20, 2026, unless the Early Expiration Price Condition (described below) is met for such series, in which case the expiration will be automatically accelerated as specified in the warrant agreement (with the Company able to elect a later expiration date)." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b10", + "block_sequence": 10, + "block_sha256": "580dcf0692e477585de865b97e6528db026e79895ed4e055fced447bf5e815f3", + "block_type": "heading", + "char_count": 12, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 10, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "6c83f4aa6b20ef1a5908c2e8102a851a9e944fb69843878c7b13b665b298d1e5", + "heading_path": [ + "EXHIBIT 99.1", + "Exhibit 99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s6", + "table": null, + "text": "Exhibit 99.1" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b11", + "block_sequence": 11, + "block_sha256": "94e44f40ff36b3689c71bf26e21e9bc86a71d9c5169c517eb59cc42e8dd9706f", + "block_type": "paragraph", + "char_count": 2318, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 11, + "char_end": 2318, + "char_start": 0, + "fragment_sha256": "ae655befdeae9ecd940853c754859fb534798ba7f9bff4033e28316330e79d63", + "heading_path": [ + "EXHIBIT 99.1", + "Exhibit 99.1" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s6", + "table": null, + "text": "\u25cf Early Expiration Price Condition: The \u201cEarly Expiration Price Condition\u201d will be satisfied if, within any period of thirty (30) consecutive trading days, there are at least twenty (20) trading days (whether or not consecutive) after the Distribution Date on which the daily volume-weighted average price (\u201cVWAP\u201d) of the Company\u2019s common stock equals or exceeds the applicable Early Expiration Trigger Price for a respective series of warrants. In the event that the Early Expiration Price Condition is satisfied for a particular series, that series will expire at 5:00 p.m. New York City time on the first scheduled trading day (or if net exercise is applicable to such series, the second scheduled trading day) following such twentieth (20th) trading day (unless the Company sets a later expiration date pursuant to the warrant agreement). The Company will announce any early expiration by press release, specifying which series is subject to early expiry. The \u201cEarly Expiration Trigger Price\u201d for each series is initially equal to the following and will be subject to adjustment in accordance with the warrant agreement. o Series K warrants: Trigger Price of $10.80 (120% of $9.00 Series K exercise price) o Series A warrants: Trigger Price of $15.60 (120% of $13.00 Series A exercise price) o Series Z warrants: Trigger Price of $20.40 (120% of $17.00 Series Z exercise price) \u25cf Exercisability: The warrants are exercisable at any time through the Expiration Date. \u25cf Convertible Noteholders: In lieu of an adjustment to the conversion rate, holders of the Company\u2019s 7.000% Convertible Senior Notes due 2030 (the \u201c2030 Convertible Notes\u201d) as of the Record Date also received warrants at the same time and on the same terms as holders of Common Stock without having to convert such holder\u2019s 2030 Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the 2030 Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of 2030 Convertible Notes held by such holder on the Record Date. \u25cf Listing: The Series K, Series A, and Series Z warrants are expected to commence trading on The Nasdaq Stock Market under the tickers OPENW (Series K), OPENL (Series A), and OPENZ (Series Z)." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b12", + "block_sequence": 12, + "block_sha256": "e89b30aa1dc30a6ad8c34610689bede83b3ef645a24c3a84a0990826687fb735", + "block_type": "heading", + "char_count": 9, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 12, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "d539eaab4a7c21985ff88fff4a21c9dc5945b3278dac1435b50cf52080711ea1", + "heading_path": [ + "EXHIBIT 99.1", + "Resources" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s7", + "table": null, + "text": "Resources" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b13", + "block_sequence": 13, + "block_sha256": "47840efbe30642f51bd769231cd98f0b7b9a612786005546c881ee21c13d4d71", + "block_type": "paragraph", + "char_count": 207, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 13, + "char_end": 207, + "char_start": 0, + "fragment_sha256": "cccec717849bedfd54b7b922c3b5de0f6ca11654efa11c3682e0073ea926939e", + "heading_path": [ + "EXHIBIT 99.1", + "Resources" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s7", + "table": null, + "text": "Shareholders are encouraged to review the information available on the Company\u2019s Investor Relations Resource Page, which includes the Shareholder FAQ, and to contact their broker directly with any questions." + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b14", + "block_sequence": 14, + "block_sha256": "580dcf0692e477585de865b97e6528db026e79895ed4e055fced447bf5e815f3", + "block_type": "heading", + "char_count": 12, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 14, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "856b2804114d7c09d335a8c97823cc06d5486f27a7f11aa8d91888bd2b94d93a", + "heading_path": [ + "EXHIBIT 99.1", + "Exhibit 99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s8", + "table": null, + "text": "Exhibit 99.1" + }, + { + "block_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b15", + "block_sequence": 15, + "block_sha256": "84b83329a2df7f3569f5258c34229e8f7aa119f96a2e09bd6543dfe88a107927", + "block_type": "paragraph", + "char_count": 955, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", + "block_sequence": 15, + "char_end": 955, + "char_start": 0, + "fragment_sha256": "b2b861c1b0ab471955aeaeec7c1744ac9d86c8bec8d7f7ccba72111eca8759a0", + "heading_path": [ + "EXHIBIT 99.1", + "Exhibit 99.1" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s8", + "table": null, + "text": "This Press Release and the Q&A referenced herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A Form 8-A registration statement and prospectus supplement describing the terms of the warrants and our common stock have been filed with the SEC and are available on the SEC\u2019s website located at http://www.sec.gov. Warrant holders and holders of our common stock should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein. This press release contains a general summary of the warrants. 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All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including, without limitation: the Company\u2019s expectations regarding the warrant distribution; and the Company\u2019s expectations regarding the trading of the warrants on the Nasdaq Stock Market. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in the Company\u2019s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company\u2019s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations. 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(Nasdaq: OPEN) (“Opendoor” or the “Company”) today announced the distribution of warrants to purchase the Company’s common stock to its registered stockholders and certain convertible noteholders on Friday, November 21, 2025 (the “Distribution Date”), in accordance with the previously announced special dividend in the form of warrants. As previously announced, each stockholder of record as of 5:00 p.m. New York City time on November 18, 2025 (the “Record Date”) received three series of warrants—Series K, Series A, and Series Z—one (1) warrant of each series for every thirty (30) shares of the Company’s common stock held, rounded down to the nearest whole number. “This warrant dividend is a statement of confidence — in our business, in our plan, and in the long-term value we’re building,” said Kaz Nejatian, Chief Executive Officer of Opendoor. “For too long, shareholders have been treated as an afterthought. We’re reversing that. Real alignment isn’t a slogan — it’s structural. This dividend puts that principle into practice and is a concrete step in rebuilding our relationship with shareholders through actions, not promises.” The warrants were distributed by the Company’s warrant agent and are exercisable for cash on and following the Distribution Date, in accordance with the terms of the warrant agreement, subject to the Company’s ability to change the exercise method to net exercise as provided in the warrant agreement. A form of warrant agreement was filed as an exhibit to the Form 8-A warrant registration statement with the U.S. Securities and Exchange Commission (the “SEC”) on November 21, 2025."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b9"], "char_count": 1189, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fcdae2f184c63d5a57456aa57b3ba9c99a1a3d7ca5d6efed64c68604131750d0", "derivation_id": "34af4922d2544ccbf1080c107a5df9dbbf5596fd59c339a5747ddd35ab77a894", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Warrant Terms"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "block_sequence": 9, "char_end": 1189, "char_start": 0, "fragment_sha256": "72d96bbdfccefe0d480dac6d024ac1e68e12e9cc0bbb204bbbe8e371a22d8edb", "heading_path": ["EXHIBIT 99.1", "Warrant Terms"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s5", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex99-1.htm", "table_id": null, "text": "● Eligibility: To be eligible to receive warrants, an investor must have been a shareholder of record as of the November 18, 2025 Record Date. Investors should contact their brokers with any questions regarding their holder status as of the Record Date. ● Distribution Ratio: For each thirty (30) shares of common stock held as of the Record Date, a shareholder of record as of the Record Date received one (1) Series K warrant, one (1) Series A warrant, and one (1) Series Z warrant (rounded down to the nearest whole number). No fractional warrants were issued. ● Exercise Prices: $9.00 per Series K warrant; $13.00 per Series A warrant; $17.00 per Series Z warrant. ● Exercise Method: Cash exercise; however, the Company may, in its sole discretion, implement a net exercise provision for any series of warrants as provided in the warrant agreement. ● Expiration: Each series will expire at 5:00 p.m. New York City time on November 20, 2026, unless the Early Expiration Price Condition (described below) is met for such series, in which case the expiration will be automatically accelerated as specified in the warrant agreement (with the Company able to elect a later expiration date)."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b11"], "char_count": 2318, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "94e44f40ff36b3689c71bf26e21e9bc86a71d9c5169c517eb59cc42e8dd9706f", "derivation_id": "34af4922d2544ccbf1080c107a5df9dbbf5596fd59c339a5747ddd35ab77a894", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Exhibit 99.1"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "block_sequence": 11, "char_end": 2318, "char_start": 0, "fragment_sha256": "ae655befdeae9ecd940853c754859fb534798ba7f9bff4033e28316330e79d63", "heading_path": ["EXHIBIT 99.1", "Exhibit 99.1"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s6", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex99-1.htm", "table_id": null, "text": "● Early Expiration Price Condition: The “Early Expiration Price Condition” will be satisfied if, within any period of thirty (30) consecutive trading days, there are at least twenty (20) trading days (whether or not consecutive) after the Distribution Date on which the daily volume-weighted average price (“VWAP”) of the Company’s common stock equals or exceeds the applicable Early Expiration Trigger Price for a respective series of warrants. In the event that the Early Expiration Price Condition is satisfied for a particular series, that series will expire at 5:00 p.m. New York City time on the first scheduled trading day (or if net exercise is applicable to such series, the second scheduled trading day) following such twentieth (20th) trading day (unless the Company sets a later expiration date pursuant to the warrant agreement). The Company will announce any early expiration by press release, specifying which series is subject to early expiry. The “Early Expiration Trigger Price” for each series is initially equal to the following and will be subject to adjustment in accordance with the warrant agreement. o Series K warrants: Trigger Price of $10.80 (120% of $9.00 Series K exercise price) o Series A warrants: Trigger Price of $15.60 (120% of $13.00 Series A exercise price) o Series Z warrants: Trigger Price of $20.40 (120% of $17.00 Series Z exercise price) ● Exercisability: The warrants are exercisable at any time through the Expiration Date. ● Convertible Noteholders: In lieu of an adjustment to the conversion rate, holders of the Company’s 7.000% Convertible Senior Notes due 2030 (the “2030 Convertible Notes”) as of the Record Date also received warrants at the same time and on the same terms as holders of Common Stock without having to convert such holder’s 2030 Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the 2030 Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of 2030 Convertible Notes held by such holder on the Record Date. ● Listing: The Series K, Series A, and Series Z warrants are expected to commence trading on The Nasdaq Stock Market under the tickers OPENW (Series K), OPENL (Series A), and OPENZ (Series Z)."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b13"], "char_count": 207, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "47840efbe30642f51bd769231cd98f0b7b9a612786005546c881ee21c13d4d71", "derivation_id": "34af4922d2544ccbf1080c107a5df9dbbf5596fd59c339a5747ddd35ab77a894", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Resources"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "block_sequence": 13, "char_end": 207, "char_start": 0, "fragment_sha256": "cccec717849bedfd54b7b922c3b5de0f6ca11654efa11c3682e0073ea926939e", "heading_path": ["EXHIBIT 99.1", "Resources"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s7", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex99-1.htm", "table_id": null, "text": "Shareholders are encouraged to review the information available on the Company’s Investor Relations Resource Page, which includes the Shareholder FAQ, and to contact their broker directly with any questions."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b15"], "char_count": 955, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "84b83329a2df7f3569f5258c34229e8f7aa119f96a2e09bd6543dfe88a107927", "derivation_id": "34af4922d2544ccbf1080c107a5df9dbbf5596fd59c339a5747ddd35ab77a894", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Exhibit 99.1"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "block_sequence": 15, "char_end": 955, "char_start": 0, "fragment_sha256": "b2b861c1b0ab471955aeaeec7c1744ac9d86c8bec8d7f7ccba72111eca8759a0", "heading_path": ["EXHIBIT 99.1", "Exhibit 99.1"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s8", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex99-1.htm", "table_id": null, "text": "This Press Release and the Q&A referenced herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A Form 8-A registration statement and prospectus supplement describing the terms of the warrants and our common stock have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Warrant holders and holders of our common stock should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein. This press release contains a general summary of the warrants. Please read the full text of the warrant agreement carefully as it contains important information about the terms of the warrants."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#b17"], "char_count": 2468, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "852306dfc09af03f09002c0b4bcb0929af6fd096c83f04354b972fac118313c4", "derivation_id": "34af4922d2544ccbf1080c107a5df9dbbf5596fd59c339a5747ddd35ab77a894", "document_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-11-21", "filing_id": "sec:0001801169:0001140361-25-042984", "flags": [], "form": "8-K", "heading_path": ["EXHIBIT 99.1", "Forward‐Looking Statements"], "items": ["1.01", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "block_sequence": 17, "char_end": 2468, "char_start": 0, "fragment_sha256": "63e9008d269065a66555dc74478daec14988744061d70004d13d1adaf3f0dfaa", "heading_path": ["EXHIBIT 99.1", "Forward‐Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-11-21", "section_id": "norm:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm#s9", "source_artifact_id": "sec:0001801169:0001140361-25-042984:ef20059583_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125042984/ef20059583_ex99-1.htm", "table_id": null, "text": "This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including, without limitation: the Company’s expectations regarding the warrant distribution; and the Company’s expectations regarding the trading of the warrants on the Nasdaq Stock Market. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 27, 2025, as updated by the Company’s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations. 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Prior to that, he served in a number of positions at Shopify Inc., including Senior Director of Operations from January 2021 to September 2021, Senior Director Corporate FP&A, Acceleration Finance from September 2020 to January 2021 and Director of Strategic Expansion from June 2018 to September 2020. Mr. Matheson is a CFA Charterholder, received his B.Comm degree in Finance from Concordia University and received his M.B.A. from the University of Alberta. In connection with his appointment as President, Mr. Matheson entered into an offer letter with the Company\u2019s wholly owned subsidiary, Opendoor Operations Canada Inc., dated December 12, 2025 (the \u201cMatheson Offer Letter\u201d). Pursuant to the Matheson Offer Letter, Mr. Matheson is entitled to an annual base salary of $500,000 USD and is not eligible for an annual bonus. The Matheson Offer Letter further provides that Mr. Matheson will be paid a sign-on bonus in the amount of $200,000 USD on January 1, 2026, subject to repayment if Mr. Matheson\u2019s employment terminates for any reason prior to the first anniversary of the commencement of his employment. Pursuant to the Matheson Offer Letter, Mr. Matheson will be eligible to participate in the Company\u2019s Executive Severance Plan, as a \u201cTier 2 Executive.\u201d On his employment start date, Mr. Matheson will be granted an award of performance restricted stock units (\u201cPRSUs\u201d) with an initial value of $6,000,000 USD that will be eligible to vest as follows: twenty percent (20%) of the award will be eligible to vest on April 15, 2026, with the remainder of the award vesting in quarterly installments thereafter, subject to Mr. Matheson\u2019s continued employment through each applicable vesting date and the achievement of an average closing stock price that equals or exceeds $6.24 over the thirty (30) trading day period preceding the applicable vesting date or any of the four immediately following vesting dates, with the award becoming fully vested on April 15, 2030. In addition, on his employment start date, Mr. Matheson will be granted an award of PRSUs with an initial value of $6,000,000 USD that is divided into seven (7) equal tranches, with each tranche subject to a performance-based vesting condition that requires achievement of an average closing price stock price hurdle (equal to $9, $13, $17, $21, $25, $29 and $33) over a thirty (30) trading day period commencing on April 15, 2026 and ending on October 15, 2030, as well as satisfying applicable time-based vesting conditions. In connection with his employment with the Company, Mr. Matheson has also executed the Company\u2019s standard form of Confidential Information and Invention Assignment Agreement and is expected to enter into the Company\u2019s standard form of Indemnification Agreement upon his employment start date. Mr. Matheson does not have any family relationships with any of the Company\u2019s directors or executive officers. Mr. Matheson is not party to any transactions of the type described in Item 404(a) of Regulation S-K." + }, + { + "block_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b23", + "block_sequence": 23, + "block_sha256": "9f1fb58383e51c88f959cfcdd1f6e3ab755fdedd66d3f3c7c0815a6591d6d37a", + "block_type": "heading", + "char_count": 38, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", + "block_sequence": 23, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "ef7744756c26181c86065c9d3735d420d0cc962c4a2cd585bd14acdc4e97f2cb", + "heading_path": [ + "CURRENT REPORT", + "Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.", + "Appointment of President", + "Appointment of Chief Financial Officer" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#s15", + "table": null, + "text": "Appointment of Chief Financial Officer" + }, + { + "block_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b24", + "block_sequence": 24, + "block_sha256": "cfa111c8ce0b1115d0d3a57fc16cc5a27009870f71271356e8f79cf0a5be4900", + "block_type": "paragraph", + "char_count": 3253, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", + "block_sequence": 24, + "char_end": 3253, + "char_start": 0, + "fragment_sha256": "ad6f490f2aaa56730b5810acb0622946350a68b9966574a8324c869bb299d3f9", + "heading_path": [ + "CURRENT REPORT", + "Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.", + "Appointment of President", + "Appointment of Chief Financial Officer" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#s15", + "table": null, + "text": "On December 15, 2025, the Company announced the appointment of Christy Schwartz as Chief Financial Officer of the Company, effective as of January 1, 2026. Ms. Schwartz, age 47, served as the Company\u2019s interim Chief Financial Officer from September 2025 until December 2025 and previously from December 2022 to November 2024, as well as its Chief Accounting Officer from March 2021 to May 2025. Prior to that, she served as the Company\u2019s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. PROfilePageNumberReset%Num%2%%% In connection with her appointment as Chief Financial Officer, Ms. Schwartz entered into an amended offer letter with the Company\u2019s wholly owned subsidiary, Opendoor Labs Inc. (\u201cLabs\u201d) dated December 12, 2025, which will be effective as of January 1, 2026 (the \u201cSchwartz Offer Letter\u201d) and, as of such effective date, will supersede her current offer letter with Labs dated September 18, 2025. Pursuant to the Schwartz Offer Letter, Ms. Schwartz\u2019s annual base salary will be $1,200,000 until May 15, 2026, and thereafter will be $500,000, and Ms. Schwartz is not eligible for an annual bonus. The Schwartz Offer Letter further provides that Ms. Schwartz is entitled to a sign-on bonus in the amount of $100,000 payable on January 1, 2026, and an amount equal to the difference between $1,200,000 and any salary (before taxes, deductions, and withholdings) paid to Ms. Schwartz from September 18, 2025 through May 15, 2026, payable on the first regular payroll date after May 15, 2026, provided that she remain employed with the Company through such date. Pursuant to the Schwartz Offer Letter, Ms. Schwartz will be eligible to participate in the Company\u2019s Executive Severance Plan, as a \u201cTier 2 Executive.\u201d On December 31, 2025, Ms. Schwartz will be granted an award of 1,695,000 PRSUs that will be eligible to vest as follows: twenty percent (20%) of the award will be eligible to vest on April 15, 2026, with the remainder of the award vesting in quarterly installments thereafter, subject to Ms. Schwartz\u2019s continued employment through each applicable vesting date and the achievement of an average closing stock price that equals or exceeds $6.24 over the thirty (30) trading day period preceding the applicable vesting date or any of the four immediately following vesting dates, with the award becoming fully vested on April 15, 2030. In addition, on December 31, 2025, Ms. Schwartz will be granted an award of 1,695,000 PRSUs that is divided into seven (7) equal tranches, with each tranche subject to a performance-based vesting condition that requires achievement of an average closing price stock price hurdle (equal to $9, $13, $17, $21, $25, $29 and $33) over a thirty (30) trading day period commencing on April 15, 2026 and ending on October 15, 2030, as well as satisfying applicable time-based vesting conditions. Ms. Schwartz does not have any family relationships with any of the Company\u2019s directors or executive officers. Ms. Schwartz is not party to any transactions of the type described in Item 404(a) of Regulation S-K." + }, + { + "block_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b25", + "block_sequence": 25, + "block_sha256": "067727d53a58ec07d55d565c20d24f40e9b39b84ebd5ddc395aab8c628a5a864", + "block_type": "heading", + "char_count": 35, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", + "block_sequence": 25, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "a7a1755a49f09f11fcf295a27dd3c66c5ebf7044940f9ad1a4936b9d72f16a9f", + "heading_path": [ + "CURRENT REPORT", + "Item 7.01 Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#s16", + "table": null, + "text": "Item 7.01 Regulation FD Disclosure." + }, + { + "block_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b26", + "block_sequence": 26, + "block_sha256": "28f1246e4bc98a6386e8fb3e9758c27e78a47be8a718273b0a025b32734881a5", + "block_type": "paragraph", + "char_count": 679, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", + "block_sequence": 26, + "char_end": 679, + "char_start": 0, + "fragment_sha256": "a4648e26db8d9ace01d5312dfda0823f0fdd68b0f9d09ba22e14afa12b0b0405", + "heading_path": [ + "CURRENT REPORT", + "Item 7.01 Regulation FD Disclosure." + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#s16", + "table": null, + "text": "On December 15, 2025, the Company issued a press release announcing the officer appointments. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information set forth in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed \u201cfiled\u201d for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing." + }, + { + "block_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b27", + "block_sequence": 27, + "block_sha256": "6590b967fc39cbbfef7a9d96593f05b6aa880e9fcb36f42a60000c650e9a02e5", + "block_type": "heading", + "char_count": 44, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", + "block_sequence": 27, + "char_end": 44, + "char_start": 0, + "fragment_sha256": 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Opendoor Technologies Inc. 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"normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-12-10", "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#s12", "source_artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125045459/ef20061208_8k.htm", "table_id": null, "text": "Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b22"], "char_count": 3533, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4ad26448788cc1901aa96bd1135a55eed28df06d0fe66232244334ce5ace2b70", "derivation_id": "ccf90d5bc18767f4d2aaf13e3d2ae6554bad26f6e398db579ff9a0425eba2d5f", "document_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-12-15", "filing_id": "sec:0001801169:0001140361-25-045459", "flags": [], "form": "8-K", "heading_path": ["CURRENT REPORT", "Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.", "Appointment of President"], "items": ["5.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", "block_sequence": 22, "char_end": 3533, "char_start": 0, "fragment_sha256": "8f19f33f70715ad52328ebfa73bb82d014344fb5aba3a0411fa8049cb40401f2", "heading_path": ["CURRENT REPORT", "Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.", "Appointment of President"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-12-10", "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#s14", "source_artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_8k.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125045459/ef20061208_8k.htm", "table_id": null, "text": "On December 15, 2025, Opendoor Technologies Inc. (the “Company”) announced the appointment of Lucas Matheson as President of the Company, effective as of his employment start date, which is anticipated to be December 22, 2025. As of December 10, 2025, Shrisha Radhakrishna will no longer serve as President of the Company but will continue to serve as Chief Technology and Product Officer. Mr. Matheson, age 46, previously served as the Chief Executive Officer of Coinbase Canada, Inc. from December 2022 to December 2025. Prior to that, he served in a number of positions at Shopify Inc., including Senior Director of Operations from January 2021 to September 2021, Senior Director Corporate FP&A, Acceleration Finance from September 2020 to January 2021 and Director of Strategic Expansion from June 2018 to September 2020. Mr. Matheson is a CFA Charterholder, received his B.Comm degree in Finance from Concordia University and received his M.B.A. from the University of Alberta. In connection with his appointment as President, Mr. Matheson entered into an offer letter with the Company’s wholly owned subsidiary, Opendoor Operations Canada Inc., dated December 12, 2025 (the “Matheson Offer Letter”). Pursuant to the Matheson Offer Letter, Mr. Matheson is entitled to an annual base salary of $500,000 USD and is not eligible for an annual bonus. The Matheson Offer Letter further provides that Mr. Matheson will be paid a sign-on bonus in the amount of $200,000 USD on January 1, 2026, subject to repayment if Mr. Matheson’s employment terminates for any reason prior to the first anniversary of the commencement of his employment. Pursuant to the Matheson Offer Letter, Mr. Matheson will be eligible to participate in the Company’s Executive Severance Plan, as a “Tier 2 Executive.” On his employment start date, Mr. Matheson will be granted an award of performance restricted stock units (“PRSUs”) with an initial value of $6,000,000 USD that will be eligible to vest as follows: twenty percent (20%) of the award will be eligible to vest on April 15, 2026, with the remainder of the award vesting in quarterly installments thereafter, subject to Mr. Matheson’s continued employment through each applicable vesting date and the achievement of an average closing stock price that equals or exceeds $6.24 over the thirty (30) trading day period preceding the applicable vesting date or any of the four immediately following vesting dates, with the award becoming fully vested on April 15, 2030. In addition, on his employment start date, Mr. Matheson will be granted an award of PRSUs with an initial value of $6,000,000 USD that is divided into seven (7) equal tranches, with each tranche subject to a performance-based vesting condition that requires achievement of an average closing price stock price hurdle (equal to $9, $13, $17, $21, $25, $29 and $33) over a thirty (30) trading day period commencing on April 15, 2026 and ending on October 15, 2030, as well as satisfying applicable time-based vesting conditions. In connection with his employment with the Company, Mr. Matheson has also executed the Company’s standard form of Confidential Information and Invention Assignment Agreement and is expected to enter into the Company’s standard form of Indemnification Agreement upon his employment start date. Mr. Matheson does not have any family relationships with any of the Company’s directors or executive officers. Mr. Matheson is not party to any transactions of the type described in Item 404(a) of Regulation S-K."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-25-045459:ef20061208_8k.htm#b24"], "char_count": 3253, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cfa111c8ce0b1115d0d3a57fc16cc5a27009870f71271356e8f79cf0a5be4900", "derivation_id": "ccf90d5bc18767f4d2aaf13e3d2ae6554bad26f6e398db579ff9a0425eba2d5f", "document_id": "norm:0001801169:0001140361-25-045459:ef20061208_8k.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2025-12-15", "filing_id": "sec:0001801169:0001140361-25-045459", "flags": [], "form": "8-K", "heading_path": ["CURRENT REPORT", "Item 5.02. 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Ms. Schwartz, age 47, served as the Company’s interim Chief Financial Officer from September 2025 until December 2025 and previously from December 2022 to November 2024, as well as its Chief Accounting Officer from March 2021 to May 2025. Prior to that, she served as the Company’s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. PROfilePageNumberReset%Num%2%%% In connection with her appointment as Chief Financial Officer, Ms. Schwartz entered into an amended offer letter with the Company’s wholly owned subsidiary, Opendoor Labs Inc. (“Labs”) dated December 12, 2025, which will be effective as of January 1, 2026 (the “Schwartz Offer Letter”) and, as of such effective date, will supersede her current offer letter with Labs dated September 18, 2025. Pursuant to the Schwartz Offer Letter, Ms. Schwartz’s annual base salary will be $1,200,000 until May 15, 2026, and thereafter will be $500,000, and Ms. Schwartz is not eligible for an annual bonus. The Schwartz Offer Letter further provides that Ms. Schwartz is entitled to a sign-on bonus in the amount of $100,000 payable on January 1, 2026, and an amount equal to the difference between $1,200,000 and any salary (before taxes, deductions, and withholdings) paid to Ms. Schwartz from September 18, 2025 through May 15, 2026, payable on the first regular payroll date after May 15, 2026, provided that she remain employed with the Company through such date. Pursuant to the Schwartz Offer Letter, Ms. Schwartz will be eligible to participate in the Company’s Executive Severance Plan, as a “Tier 2 Executive.” On December 31, 2025, Ms. Schwartz will be granted an award of 1,695,000 PRSUs that will be eligible to vest as follows: twenty percent (20%) of the award will be eligible to vest on April 15, 2026, with the remainder of the award vesting in quarterly installments thereafter, subject to Ms. Schwartz’s continued employment through each applicable vesting date and the achievement of an average closing stock price that equals or exceeds $6.24 over the thirty (30) trading day period preceding the applicable vesting date or any of the four immediately following vesting dates, with the award becoming fully vested on April 15, 2030. In addition, on December 31, 2025, Ms. Schwartz will be granted an award of 1,695,000 PRSUs that is divided into seven (7) equal tranches, with each tranche subject to a performance-based vesting condition that requires achievement of an average closing price stock price hurdle (equal to $9, $13, $17, $21, $25, $29 and $33) over a thirty (30) trading day period commencing on April 15, 2026 and ending on October 15, 2030, as well as satisfying applicable time-based vesting conditions. Ms. Schwartz does not have any family relationships with any of the Company’s directors or executive officers. 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Opendoor Technologies Inc. Date: December 15, 2025 By: /s/ Kaz Nejatian Name: Kaz Nejatian Title: Chief Executive Officer"} diff --git a/data/normalized/sec/0001801169/8-K/2025-12-15_0001140361-25-045459/norm_0001801169_0001140361-25-045459_ef20061208_ex99-1.htm.json b/data/normalized/sec/0001801169/8-K/2025-12-15_0001140361-25-045459/norm_0001801169_0001140361-25-045459_ef20061208_ex99-1.htm.json new file mode 100644 index 0000000000000000000000000000000000000000..da9e86f67410a4ae18c3e8b5f5ee60cc6f4815fb --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2025-12-15_0001140361-25-045459/norm_0001801169_0001140361-25-045459_ef20061208_ex99-1.htm.json @@ -0,0 +1,105 @@ +{ + "acceptance_datetime": "2025-12-15T07:10:35.000Z", + "amends_accession": null, + "artifact_role": "ex99-01", + "blocks": [ + { + "block_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#b0", + "block_sequence": 0, + "block_sha256": "531251782322c8aea7ecffb89cf0167c2a4917314561eed0024f1dad93d187ad", + "block_type": "paragraph", + "char_count": 9656, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", + "block_sequence": 0, + "char_end": 9656, + "char_start": 0, + "fragment_sha256": "a7e0f795876cc7fa857d81e79cc0f84a999ee024994ea510783d666c3194c864", + "heading_path": [], + "table_index": null, + "tag_name": "document" + }, + "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#s0", + "table": null, + "text": "EX-99.1 2 ef20061208_ex99-1.htm EXHIBIT 99.1 Licensed to: Broadridge Document created using Broadridge PROfile 25.10.1.5333 Copyright 1995 - 2025 Broadridge Exhibit 99.1 Opendoor Names President and CFO to Accelerate Next Chapter Hires Coinbase Canada CEO Lucas Matheson as President; names veteran Christy Schwartz as CFO MIAMI \u2014 December 15, 2025 \u2014 Opendoor Technologies Inc. (Nasdaq: OPEN) today announced two executive appointments designed to accelerate the Company\u2019s next phase of growth: President from the fintech frontier and CFO promoted from within after an extensive external search. Accelerating our next chapter Lucas Matheson joins as President on December 22, 2025. Matheson most recently served as CEO of Coinbase Canada and previously spent five years at Shopify leading acceleration finance (M&A), strategic expansion, corporate financial planning & analysis and various operational roles. At Opendoor, Matheson will oversee Corporate Development, Financial Planning & Analysis and emerging strategic initiatives, including the Company\u2019s exploration of how blockchain technology and tokenization might create new pathways to homeownership. \u201cReal estate is one of the last major asset classes that hasn\u2019t been touched by the financial innovation happening everywhere else,\u201d said Matheson. \u201cOpendoor has already proven you can reimagine how people buy and sell homes. I\u2019m here to help execute on what\u2019s next.\u201d Christy Schwartz has been named Chief Financial Officer, effective January 1, 2026. Schwartz, who has served as interim CFO, was selected after conversations with dozens of public-company CFOs across industries. The conclusion: the best candidate was already at Opendoor. \u201cWe looked everywhere,\u201d said Kaz Nejatian, CEO of Opendoor. \u201cWe talked to CFOs from nearly every sector. And we realized the person with the deepest command of our business, the trust of every team, and the bias for action we need was already here.\u201d Continued Leadership Shrisha Radhakrishna, who served as interim President during the Company\u2019s leadership transition, continues as Chief Technology and Product Officer, leading Engineering, Product, Design, and Data. \u201cShrisha kept this Company moving forward through a challenging stretch,\u201d said Nejatian. \u201cHis steady hand gave us the time to get this right. He\u2019s back to what he does best: building the product that changes how America buys and sells homes.\u201d The Mandate \u201cMy job is to find the best person for every seat,\u201d said Nejatian. \u201cThis is the team for the next version of Opendoor, one built for speed, clarity, and impact. Every day we don\u2019t make real progress is a day we don\u2019t make homeownership better. We\u2019re not going to waste days.\u201d About Opendoor Opendoor\u2019s mission is to tilt the world in favor of homeowners and those working hard to become one. Since 2014, the company has provided people across the U.S. with a simpler, more certain way to sell and buy a home. Opendoor currently operates in markets nationwide. For more information, visit www.opendoor.com. Contacts Investor Relations: investors@opendoor.com Media: Contact Kaz on X @CanadaKaz Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding future start dates; whether recent leadership changes are able to accelerate the Company\u2019s next phase of growth; whether blockchain technology and tokenization may be able to create new pathways to homeownership; whether we are able to build a product that changes how America buys and sells homes; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share in our existing markets or any new markets we may enter; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on February 27, 2025, as updated by our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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2025 Broadridge Exhibit 99.1 Opendoor Names President and C" +} diff --git a/data/normalized/sec/0001801169/8-K/2025-12-15_0001140361-25-045459/norm_0001801169_0001140361-25-045459_ef20061208_ex99-1.htm.passages.jsonl b/data/normalized/sec/0001801169/8-K/2025-12-15_0001140361-25-045459/norm_0001801169_0001140361-25-045459_ef20061208_ex99-1.htm.passages.jsonl new file mode 100644 index 0000000000000000000000000000000000000000..78e55f96d03c9e7c808c98c4d35489a6896cc3af --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2025-12-15_0001140361-25-045459/norm_0001801169_0001140361-25-045459_ef20061208_ex99-1.htm.passages.jsonl @@ -0,0 +1,4 @@ +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#b0"], "char_count": 3872, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bc797b21e5eca3a753c4078e16980ee29f44ba1d44a5c9b5c353832bfe09b089", "derivation_id": "ed62e29eb3b2fa2a503a2c174fe481e8b6ca085031d1775381c2e8d41ebd5963", "document_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-12-15", "filing_id": "sec:0001801169:0001140361-25-045459", "flags": [], "form": "8-K", "heading_path": [], "items": ["5.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "block_sequence": 0, "char_end": 3872, "char_start": 0, "fragment_sha256": "a7e0f795876cc7fa857d81e79cc0f84a999ee024994ea510783d666c3194c864", "heading_path": [], "table_index": null, "tag_name": "document"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#p0", "passage_kind": "narrative", "passage_sequence": 0, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-12-10", "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#s0", "source_artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125045459/ef20061208_ex99-1.htm", "table_id": null, "text": "EX-99.1 2 ef20061208_ex99-1.htm EXHIBIT 99.1 Licensed to: Broadridge Document created using Broadridge PROfile 25.10.1.5333 Copyright 1995 - 2025 Broadridge Exhibit 99.1 Opendoor Names President and CFO to Accelerate Next Chapter Hires Coinbase Canada CEO Lucas Matheson as President; names veteran Christy Schwartz as CFO MIAMI — December 15, 2025 — Opendoor Technologies Inc. (Nasdaq: OPEN) today announced two executive appointments designed to accelerate the Company’s next phase of growth: President from the fintech frontier and CFO promoted from within after an extensive external search. Accelerating our next chapter Lucas Matheson joins as President on December 22, 2025. Matheson most recently served as CEO of Coinbase Canada and previously spent five years at Shopify leading acceleration finance (M&A), strategic expansion, corporate financial planning & analysis and various operational roles. At Opendoor, Matheson will oversee Corporate Development, Financial Planning & Analysis and emerging strategic initiatives, including the Company’s exploration of how blockchain technology and tokenization might create new pathways to homeownership. “Real estate is one of the last major asset classes that hasn’t been touched by the financial innovation happening everywhere else,” said Matheson. “Opendoor has already proven you can reimagine how people buy and sell homes. I’m here to help execute on what’s next.” Christy Schwartz has been named Chief Financial Officer, effective January 1, 2026. Schwartz, who has served as interim CFO, was selected after conversations with dozens of public-company CFOs across industries. The conclusion: the best candidate was already at Opendoor. “We looked everywhere,” said Kaz Nejatian, CEO of Opendoor. “We talked to CFOs from nearly every sector. And we realized the person with the deepest command of our business, the trust of every team, and the bias for action we need was already here.” Continued Leadership Shrisha Radhakrishna, who served as interim President during the Company’s leadership transition, continues as Chief Technology and Product Officer, leading Engineering, Product, Design, and Data. “Shrisha kept this Company moving forward through a challenging stretch,” said Nejatian. “His steady hand gave us the time to get this right. He’s back to what he does best: building the product that changes how America buys and sells homes.” The Mandate “My job is to find the best person for every seat,” said Nejatian. “This is the team for the next version of Opendoor, one built for speed, clarity, and impact. Every day we don’t make real progress is a day we don’t make homeownership better. We’re not going to waste days.” About Opendoor Opendoor’s mission is to tilt the world in favor of homeowners and those working hard to become one. Since 2014, the company has provided people across the U.S. with a simpler, more certain way to sell and buy a home. Opendoor currently operates in markets nationwide. For more information, visit www.opendoor.com. Contacts Investor Relations: investors@opendoor.com Media: Contact Kaz on X @CanadaKaz Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding future start dates; whether recent leadership changes are able to accelerate the Company’s next phase of growth; whether blockchain technology and tokenization may be able to create new pathways to homeownership; whether we are able to build a product that changes how America buys and sells homes; and our business strategy and plans, including plans to continue to invest in and enhance our products."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#b0"], "char_count": 822, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2ad0bd4809d862e500e6680e3dff0d687e9586c63cb21c25bc59b282c0cf0c8d", "derivation_id": "ed62e29eb3b2fa2a503a2c174fe481e8b6ca085031d1775381c2e8d41ebd5963", "document_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-12-15", "filing_id": "sec:0001801169:0001140361-25-045459", "flags": [], "form": "8-K", "heading_path": [], "items": ["5.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "block_sequence": 0, "char_end": 4694, "char_start": 3872, "fragment_sha256": "a7e0f795876cc7fa857d81e79cc0f84a999ee024994ea510783d666c3194c864", "heading_path": [], "table_index": null, "tag_name": "document"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#p1", "passage_kind": "narrative", "passage_sequence": 1, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-12-10", "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#s0", "source_artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125045459/ef20061208_ex99-1.htm", "table_id": null, "text": "These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#b0"], "char_count": 3895, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4847745cfed29d5da90a647165d2b17631bd9b23dd11bd5bde8a11a85e1c02ca", "derivation_id": "ed62e29eb3b2fa2a503a2c174fe481e8b6ca085031d1775381c2e8d41ebd5963", "document_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2025-12-15", "filing_id": "sec:0001801169:0001140361-25-045459", "flags": [], "form": "8-K", "heading_path": [], "items": ["5.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "block_sequence": 0, "char_end": 8589, "char_start": 4694, "fragment_sha256": "a7e0f795876cc7fa857d81e79cc0f84a999ee024994ea510783d666c3194c864", "heading_path": [], "table_index": null, "tag_name": "document"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2025-12-10", "section_id": "norm:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm#s0", "source_artifact_id": "sec:0001801169:0001140361-25-045459:ef20061208_ex99-1.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036125045459/ef20061208_ex99-1.htm", "table_id": null, "text": "The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share in our existing markets or any new markets we may enter; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock. 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(the \u201cCompany\u201d or \u201cOpendoor\u201d) investors and others should note that the Company has used, and intends to continue to use, Opendoor\u2019s website, press releases, Securities and Exchange Commission (\u201cSEC\u201d) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, Kaz Nejatian, and @Opendoor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Mr. Nejatian\u2019s previous X handle is no longer active and thus is no longer a forum through which the Company will disclose material non-public information. The Company intends to use Mr. Nejatian\u2019s new X handle, @Nejatian, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. 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Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000004:open-20260126.htm#b23"], "char_count": 1370, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "490e7dfa3a720083f8c159a3bd4c06e6beb4392e8f7ecccf542db7a212c3e8d3", "derivation_id": "23f2336d6171fd4a8d3d873d62a71683f1d95c1f0b43a7d33ea310140cc5e894", "document_id": "norm:0001801169:0001801169-26-000004:open-20260126.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-01-26", "filing_id": "sec:0001801169:0001801169-26-000004", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 7.01", "Regulation FD Disclosure.", "Opendoor Disclosure Channels To Disseminate Information"], "items": ["7.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000004:open-20260126.htm", "block_sequence": 23, "char_end": 1370, "char_start": 0, "fragment_sha256": "38d8230ee6c2028984a3ed0238d80ee0eb60bf795f47db04859be2de49bf497f", "heading_path": ["N/A", "Item 7.01", "Regulation FD Disclosure.", "Opendoor Disclosure Channels To Disseminate Information"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000004:open-20260126.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-01-26", "section_id": "norm:0001801169:0001801169-26-000004:open-20260126.htm#s14", "source_artifact_id": "sec:0001801169:0001801169-26-000004:open-20260126.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000004/open-20260126.htm", "table_id": null, "text": "As previously disclosed in a Form 8-K filed on September 17, 2025, Opendoor Technologies Inc. (the “Company” or “Opendoor”) investors and others should note that the Company has used, and intends to continue to use, Opendoor’s website, press releases, Securities and Exchange Commission (“SEC”) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, Kaz Nejatian, and @Opendoor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Mr. Nejatian’s previous X handle is no longer active and thus is no longer a forum through which the Company will disclose material non-public information. The Company intends to use Mr. Nejatian’s new X handle, @Nejatian, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor’s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000004:open-20260126.htm#b26"], "char_count": 304, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a69caffa92f25f12eca93fb89715571d10d7dc7c22af59a0ece644ccfc142ee5", "derivation_id": "23f2336d6171fd4a8d3d873d62a71683f1d95c1f0b43a7d33ea310140cc5e894", "document_id": "norm:0001801169:0001801169-26-000004:open-20260126.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-01-26", "filing_id": "sec:0001801169:0001801169-26-000004", "flags": [], "form": "8-K", "heading_path": ["N/A", "SIGNATURES"], "items": ["7.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000004:open-20260126.htm", "block_sequence": 26, "char_end": 304, "char_start": 0, "fragment_sha256": "063ee6a494faeb8ff559887ecf48a2527421b4d663783a4a0490f203fe0bd6cc", "heading_path": ["N/A", "SIGNATURES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000004:open-20260126.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-01-26", "section_id": "norm:0001801169:0001801169-26-000004:open-20260126.htm#s16", "source_artifact_id": "sec:0001801169:0001801169-26-000004:open-20260126.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000004/open-20260126.htm", "table_id": null, "text": "Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Opendoor Technologies Inc. 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"norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company\u2019s financial results, these supplemental tables include references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company\u2019s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company\u2019s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company\u2019s performance by excluding certain items that may not be indicative of the Company\u2019s recurring operating results. Adjusted Gross Profit and Contribution Profit To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor\u2019s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort. Contribution Profit / Margin We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort. Adjusted Net Loss and Adjusted EBITDA / Margin We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss. 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It excludes expenses that are not directly related to our revenue generating operations such as restructuring, legal contingency accruals, and CEO make-whole provision. It excludes loss (gain) on extinguishment of debt as these gains or expenses were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Operating Expense We also present Adjusted Operating Expense, which is a non-GAAP financial measure that bridges the difference between Contribution Profit and Adjusted EBITDA. We believe this measure provides investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to Contribution Profit and certain charges that are non-cash, or not directly related to our revenue-generating operations are removed. Adjusted Operating Expense is a supplemental measure of our operating expenditures and has important limitations. For example, this measure excludes the impact of certain costs required to be recorded under GAAP. This measure removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. This measure could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, this measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of this measure to the most directly comparable GAAP financial measure, which is operating expenses. We calculate Adjusted Operating Expense as GAAP operating expense adjusted to exclude direct selling costs and holding costs included in determining Contribution Profit. The measure also excludes non-cash expenses of stock-based compensation, depreciation and amortization and the amortization of stock-based compensation capitalized to IDSW. It also excludes expenses that are not directly related to our revenue-generating operations such as restructuring charges, legal contingency accruals, and CEO make-whole provision. Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, Adjusted Technology and Development We also present Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development, which are non-GAAP financial measures that provide investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to contribution profit and certain charges that are non-cash are removed. These supplemental measures of our operating expenditures have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. Specifically, Adjusted Sales, Marketing and Operations removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. These measures could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which are Sales, marketing and operations expense, General and administrative expense and Technology and development expense. We calculate Adjusted Sales, Marketing and Operations as GAAP sales, marketing and operations expenses to exclude direct selling costs and holding costs included in determining Contribution Profit. This measure also excludes non-cash expenses of stock-based compensation associated with sales, marketing and operations assets. We calculate Adjusted General and Administrative as GAAP general and administrative expenses to exclude non-cash expenses of stock-based compensation associated with general and administrative assets. It also excludes expenses that are not directly related to our revenue-generating operations such as legal contingency accruals and CEO make-whole provision. We calculate Adjusted Technology and Development as GAAP technology and development expenses to exclude non-cash expenses of stock-based compensation, the amortization of stock-based compensation capitalized to IDSW, and depreciation and amortization associated with technology and development assets." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b9", + "block_sequence": 9, + "block_sha256": "de8be087d6006fdba5bd9accbff7eb55bcc31065bd0c85c0bb8e36ed8477ea9d", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 9, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "0bcda789955b813c219350e90e7b302abf7666441f60a0fcf2ab84271a672aa0", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk003.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b10", + "block_sequence": 10, + "block_sha256": "ef16fcee07ff450162ad6ca38f1595e012c33b3a763beaa177a5f9402edc881e", + "block_type": "paragraph", + "char_count": 1350, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 10, + "char_end": 1350, + "char_start": 0, + "fragment_sha256": "dc2bdab32effd74358520b39e1617d2faebdc4eefeeb904abed996f78fed97c3", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP MEASURES & KEY METRICS (Unaudited) Period Ended ($ in millions, except homes purchased, homes sold, homes in inventory, and margins) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Key Metrics Total Revenue $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Gross profit $ 57 $ 66 $ 128 $ 99 $ 85 Net loss $ (1,096) $ (90) $ (29) $ (85) $ (113) Inventory (at period end) $ 925 $ 1,053 $ 1,530 $ 2,362 $ 2,159 Non-GAAP Financial Measures Adjusted Gross Profit $ 45 $ 64 $ 135 $ 100 $ 75 Selling Costs (23) (28) (43) (29) (23) Holding Costs (15) (16) (23) (17) (14) Contribution Profit $ 7 $ 20 $ 69 $ 54 $ 38 Adjusted EBITDA $ (43) $ (33) $ 23 $ (30) $ (49) Adjusted Net Loss $ (62) $ (61) $ (9) $ (63) $ (77) Margins Total Revenue 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Gross profit 7.7 % 7.2 % 8.2 % 8.6 % 7.8 % Adjusted Gross Profit 6.1 % 7.0 % 8.6 % 8.7 % 6.9 % Contribution Profit 1.0 % 2.2 % 4.4 % 4.7 % 3.5 % Net loss (148.9) % (9.8) % (1.9) % (7.4) % (10.4) % Adjusted EBITDA (5.8) % (3.6) % 1.5 % (2.6) % (4.5) % Adjusted Net Loss (8.4) % (6.7) % (0.6) % (5.5) % (7.1) % Inventory Rollforward Homes in Inventory (at beginning of period) 3,139 4,538 7,080 6,417 6,288 Homes Purchased 1,706 1,169 1,757 3,609 2,951 Homes Sold (1,978) (2,568) (4,299) (2,946) (2,822) Homes in Inventory (at period end) 2,867 3,139 4,538 7,080 6,417" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b11", + "block_sequence": 11, + "block_sha256": "b8768d19ee0259eaeaac7c1b4b6fa2bb080f0e024ff3959cbc36c0f2d9104ec2", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 11, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "c590fd40f133db9d44721a90885fca917404de85b85d19396b74b3da410cc990", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk004.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b12", + "block_sequence": 12, + "block_sha256": "1cfc9a427354140e8dd3cd5a21102325b239aa634ededa5fec8de4dd3215c2da", + "block_type": "paragraph", + "char_count": 1125, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 12, + "char_end": 1125, + "char_start": 0, + "fragment_sha256": "51690def56d2c1ad8a563668d2d0c98b620975ea4274de0178dd4b0d399f9f7c", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are presented in thousands, and per share amounts) (Unaudited) Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 REVENUE $ 736 $ 1,084 $ 4,371 $ 5,153 COST OF REVENUE 679 999 4,021 4,720 GROSS PROFIT 57 85 350 433 OPERATING EXPENSES: Sales, marketing and operations 60 88 310 413 General and administrative 129 41 238 182 Technology and development 18 33 79 141 Restructuring \u2014 17 10 17 Total operating expenses 207 179 637 753 LOSS FROM OPERATIONS (150) (94) (287) (320) (LOSS) GAIN ON EXTINGUISHMENT OF DEBT (933) (1) (924) (2) INTEREST EXPENSE (28) (32) (131) (133) OTHER INCOME \u2013 Net 14 14 42 64 LOSS BEFORE INCOME TAXES (1,097) (113) (1,300) (391) INCOME TAX EXPENSE 1 \u2014 \u2014 (1) NET LOSS $ (1,096) $ (113) $ (1,300) $ (392) Net loss per share attributable to common shareholders: Basic $ (1.26) $ (0.16) $ (1.70) $ (0.56) Diluted $ (1.26) $ (0.16) $ (1.70) $ (0.56) Weighted-average shares outstanding: Basic 869,822 716,317 766,531 699,457 Diluted 869,822 716,317 766,531 699,457" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b13", + "block_sequence": 13, + "block_sha256": "eb60535459bdfaceeacfbfa32e6e50aec7841350932cdbaa18bb5e623580521c", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 13, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "af94a10c1f7e4eea24b70ecab70db8bbbcd5305961d7edc926064bae37074559", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk005.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b14", + "block_sequence": 14, + "block_sha256": "f7463ce5e89aa9abe879c035a61a7e7a3c6b19c1e177c7510be50cf01dd7fa77", + "block_type": "paragraph", + "char_count": 1456, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 14, + "char_end": 1456, + "char_start": 0, + "fragment_sha256": "d8371373b2da1f7d8feb329f5ecb982278eeec7e3ba05ba71295759f1ccff5b1", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except share data) (Unaudited) December 31, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 962 $ 671 Restricted cash 339 92 Marketable securities \u2014 8 Escrow receivable 4 6 Real estate inventory, net 925 2,159 Other current assets 69 61 Total current assets 2,299 2,997 PROPERTY AND EQUIPMENT \u2013 Net 27 48 RIGHT OF USE ASSETS 8 18 GOODWILL 3 3 OTHER ASSETS 70 60 TOTAL ASSETS $ 2,407 $ 3,126 LIABILITIES AND SHAREHOLDERS\u2019 EQUITY CURRENT LIABILITIES: Accounts payable and other accrued liabilities $ 80 $ 92 Non-recourse asset-backed debt \u2013 current portion 52 432 Convertible senior notes \u2013 current portion 193 \u2014 Interest payable 1 3 Lease liabilities \u2013 current portion 1 2 Total current liabilities 327 529 NON-RECOURSE ASSET-BACKED DEBT \u2013 Net of current portion 1,068 1,492 CONVERTIBLE SENIOR NOTES \u2013 Net of current portion \u2014 378 LEASE LIABILITIES \u2013 Net of current portion 6 13 OTHER LIABILITIES 1 1 Total liabilities 1,402 2,413 SHAREHOLDERS\u2019 EQUITY: Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 957,245,487 and 719,990,121 shares issued, respectively; 957,245,487 and 719,990,121 shares outstanding, respectively \u2014 \u2014 Additional paid-in capital 6,038 4,438 Accumulated deficit (5,033) (3,725) Accumulated other comprehensive loss \u2014 \u2014 Total shareholders\u2019 equity 1,005 713 TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY $ 2,407 $ 3,126" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b15", + "block_sequence": 15, + "block_sha256": "30be77a1e855eb4a3db1f98efd63938688f6623158a8f35c8eb51f090fc3a1f4", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 15, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "7a2153927a47044e8b2eab1a4d5cf5111020b3e09ce6cc703d2579b70bd7e369", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk006.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b16", + "block_sequence": 16, + "block_sha256": "8198f3da25930cd7ba6649c392159389647358c843eefd3102913b93838c52dc", + "block_type": "paragraph", + "char_count": 1937, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 16, + "char_end": 1937, + "char_start": 0, + "fragment_sha256": "b035a807091b066e236afa91c97751daedfb8af3c2fd573a413d8e5c82d37232", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Year Ended December 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (1,300) $ (392) Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: Depreciation and amortization 44 48 Amortization of right of use asset 2 5 Stock-based compensation 159 114 Inventory valuation adjustment 57 57 Change in fair value of equity securities 3 7 Other 5 7 Loss (gain) on early extinguishment of debt 924 2 Gain on deconsolidation, net \u2014 (14) Changes in operating assets and liabilities: Escrow receivable 2 3 Real estate inventory 1,172 (449) Other assets (9) (10) Accounts payable and other accrued liabilities (7) 31 Interest payable (2) 2 Lease liabilities (1) (6) Net cash provided by (used in) operating activities 1,049 (595) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (12) (25) Proceeds from sales, maturities, redemptions and paydowns of marketable securities 6 55 Purchase of equity investments (6) \u2014 Cash impact of deconsolidation of subsidiaries \u2014 (2) Net cash (used in) provided by investing activities (12) 28 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of convertible senior notes, net of discount 75 \u2014 Repurchase of convertible senior notes (1,176) \u2014 Settlement of capped calls related to the convertible senior notes 1 2 Proceeds from exercise of stock options 4 \u2014 Proceeds from issuance of common stock for ESPP 2 5 Proceeds from PIPE offering 41 \u2014 Proceeds from the issuance of common stock under at-the-market offering, net 198 \u2014 Issuance of common stock in connection with the repurchase of convertible notes 1,184 \u2014 Proceeds from non-recourse asset-backed debt 684 498 Principal payments on non-recourse asset-backed debt (1,489) (715) Payment of loan origination fees and debt issuance costs (17) \u2014" + }, + { + "block_id": 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FINANCING ACTIVITIES: Stock-based compensation expense capitalized for internally developed software $ 4 $ 15 Principal value of 2026 Notes extinguished in Debt Exchange $ (246) $ \u2014 Principal value of 2030 Notes issued in Debt Exchange $ 246 $ \u2014 Investment in non-marketable equity securities of deconsolidated entities $ 3 $ 39 RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 962 $ 671 Restricted cash 339 92 Cash, cash equivalents, and restricted cash $ 1,301 $ 763" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b19", + "block_sequence": 19, + "block_sha256": "f76a67282837c843d9ba37d7d014581dd38bca8f0a4f957d4238320ba7d9aa2b", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 19, + "char_end": 31, + "char_start": 0, + "fragment_sha256": 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NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Gross Profit and Contribution Profit to our Gross Profit Three Months Ended (in millions, except percentages and homes sold, or as noted) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Revenue (GAAP) $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Gross profit (GAAP) $ 57 $ 66 $ 128 $ 99 $ 85 Gross Margin 7.7 % 7.2 % 8.2 % 8.6 % 7.8 % Adjustments: Inventory valuation adjustment \u2013 Current Period (1)(2) 9 15 21 13 6 Inventory valuation adjustment \u2013 Prior Periods (1)(3) (21) (17) (14) (12) (16) Adjusted Gross Profit $ 45 $ 64 $ 135 $ 100 $ 75 Adjusted Gross Margin 6.1 % 7.0 % 8.6 % 8.7 % 6.9 % Adjustments: Direct selling costs (4) (23) (28) (43) (29) (23) Holding costs on sales \u2013 Current Period (5)(6) (4) (4) (6) (5) (4) Holding costs on sales \u2013 Prior Periods (5)(7) (11) (12) (17) (12) (10) Contribution Profit $ 7 $ 20 $ 69 $ 54 $ 38 Homes sold in period 1,978 2,568 4,299 2,946 2,822 Contribution Profit per Home Sold (in thousands) $ 4 $ 8 $ 16 $ 18 $ 13 Contribution Margin 1.0 % 2.2 % 4.4 % 4.7 % 3.5 % (1) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2) Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3) Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5) Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6) Represents holding costs incurred in the period presented on homes sold in the period presented. 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NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our Net Loss Three Months Ended (in millions, except percentages) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Revenue (GAAP) $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Net loss (GAAP) $ (1,096) $ (90) $ (29) $ (85) $ (113) Adjustments: Stock-based compensation 16 13 13 14 23 Stock-based compensation for market condition RSUs 89 14 \u2014 \u2014 \u2014 Equity securities fair value adjustment(1) \u2014 \u2014 \u2014 3 \u2014 Amortization of stock-based compensation capitalized to IDSW(2) 3 4 4 3 \u2014 Inventory valuation adjustment \u2013 Current Period(3)(4) 9 15 21 13 6 Inventory valuation adjustment \u2014 Prior Periods(3)(5) (21) (17) (14) (12) (16) Restructuring(6) \u2014 1 6 3 17 CEO make-whole provision(7) 5 \u2014 \u2014 \u2014 \u2014 Loss (gain) on extinguishment of debt 933 1 (10) \u2014 1 Legal contingency accrual and related expenses \u2014 \u2014 \u2014 \u2014 5 Other(8) \u2014 (2) \u2014 (2) \u2014 Adjusted Net Loss $ (62) $ (61) $ (9) $ (63) $ (77) Adjustments: Depreciation and amortization, excluding amortization of intangibles 5 5 5 5 7 Property financing(9) 21 23 29 29 28 Other interest expense(10) 7 11 7 4 4 Interest income(11) (13) (12) (9) (5) (11) Income tax expense (1) 1 \u2014 \u2014 \u2014 Adjusted EBITDA $ (43) $ (33) $ 23 $ (30) $ (49) Adjusted EBITDA Margin (5.8) % (3.6) % 1.5 % (2.6) % (4.5) % (1) Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in \u201cDepreciation and amortization, excluding amortization of intangibles.\u201d Had this presentation been applied for the three months ended December 31, 2024, Adjusted Net Loss would have improved by $3 million, with no impact to Adjusted EBITDA. (3) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (4) Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (5) Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (6) Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees\u2019 roles, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process. (7) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (8) Primarily includes gain on deconsolidation, net and related party services income. (9) Includes interest expense on our non-recourse asset-backed debt facilities. (10) Includes (i) amortization of debt issuance costs, loan origination fees, commitment fees, unused fees, and other interest-related costs on our asset-backed debt facilities, and (ii) amortization of debt issuance costs and debt discounts and interest expense related to our convertible senior notes. 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NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Operating Expenses to our Operating Expenses Three Months Ended (in millions, except percentages) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 OPERATING EXPENSES: Sales, marketing and operations 60 66 86 98 88 General and administrative 129 48 28 33 41 Technology and development 18 19 21 21 33 Restructuring \u2014 1 6 3 17 Total Operating Expenses (GAAP) $ 207 $ 134 $ 141 $ 155 $ 179 Operating Expenses (GAAP) $ 207 $ 134 $ 141 $ 155 $ 179 Adjustments: Direct Selling Costs(1) (23) (28) (43) (29) (23) Holding costs included in contribution profit(2) (15) (16) (23) (17) (14) Stock-based compensation (16) (13) (13) (14) (23) Stock-based compensation for market condition RSUs (89) (14) \u2014 \u2014 \u2014 Amortization of stock-based compensation capitalized IDSW(3) (3) (4) (4) (3) \u2014 Restructuring \u2014 (1) (6) (3) (17) CEO make-whole provision(4) (5) \u2014 \u2014 \u2014 \u2014 Legal contingency accrual \u2014 \u2014 \u2014 \u2014 (5) Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (7) Other (1) \u2014 (1) \u2014 (3) Total Adjusted Operating Expenses (Non-GAAP) $ 50 $ 53 $ 46 $ 84 $ 87 (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations. (2) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (3) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in \u201cDepreciation and amortization, excluding amortization of intangibles.\u201d Had this presentation been applied for the three months ended December 31, 2024, 2024, Adjusted Net Loss would have improved by $3 million, with no impact to Adjusted EBITDA. (4) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b25", + "block_sequence": 25, + "block_sha256": "75d5f91c981d6baf4633252d579ea72e2c872772aa19a0b46a7a0df9351d668e", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 25, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "96caf68b2cc5acb473e6456fcb9521c6d46f90afb453bec6db50128ed4726144", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk011.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b26", + "block_sequence": 26, + "block_sha256": "45c953f35dba398f351285a2dcbd8889d6eef77b1c965414cc6a9ca404836ecc", + "block_type": "paragraph", + "char_count": 3424, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 26, + "char_end": 3424, + "char_start": 0, + "fragment_sha256": "4aeea69090d978c7004e3934e5bdbe1cc98e04026718295a186b5f3bb310f979", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Sales, Marketing and Operatiions; Adjusted General and Administrative; and Adjusted Technology and Developement Expenses to Their Corresponding GAAP Measures Three Months Ended (in millions) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Sales, marketing and operations (GAAP)(1) $ 60 $ 66 $ 86 $ 98 $ 88 Direct Selling Costs(2) (23) (28) (43) (29) (23) Holding costs included in contribution profit(3)(4) (15) (16) (23) (17) (14) Stock-based compensation (1) (2) (2) (2) (2) Adjusted Sales, Marketing and Operations (Non- GAAP)(5) $ 21 $ 20 $ 18 $ 50 $ 49 General and administrative (GAAP) $ 129 $ 48 $ 28 $ 33 $ 41 Stock-based compensation (12) (9) (9) (9) (13) Stock-based compensation for market condition RSUs (89) (14) \u2014 \u2014 \u2014 CEO make-whole provision(6) (5) \u2014 \u2014 \u2014 \u2014 Legal contingency accrual and related expenses \u2014 \u2014 \u2014 \u2014 (5) Other 1 \u2014 \u2014 \u2014 \u2014 Adjusted General and Administrative (Non-GAAP)(5) $ 24 $ 25 $ 19 $ 24 $ 23 Technology and development (GAAP) $ 18 $ 19 $ 21 $ 21 $ 33 Stock-based compensation (3) (2) (2) (3) (8) Amortization of stock-based compensation capitalized to IDSW(7) (3) (4) (4) (3) \u2014 Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (7) Other (2) \u2014 (1) \u2014 (3) Adjusted Technology and Development (Non-GAAP)(5) $ 5 $ 8 $ 9 $ 10 $ 15 Note: Advertising expenses(1) $ 9 $ 7 $ 7 $ 24 $ 23 (1) Advertising expenses are included in Sales, marketing and operations. (2) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (3) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (4) The table below presents the timing difference within Adjusted Sales, marketing and operations related to holding costs. The amount of GAAP Holding Costs recognized during the period may be in excess of/ (less than) the amount of Resale Cohort Holding costs related to homes sold in the relevant period and included in Contribution Profit. Three Months Ended December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Total GAAP Holding Costs $ 10 $ 12 $ 16 $ 21 $ 21 Holding costs on sales - Current Period (4) (4) (6) (5) (4) Holding costs on sales - Prior Periods (11) (12) (17) (12) (10) Less: Resale Cohort Holding Costs (15) (16) (23) (17) (14) GAAP Holding Costs in excess of / (less than) Resale Holding Costs included in Contribution Profit $ (5) $ (4) $ (7) $ 4 $ 7 (5) The sum of Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development expenses is equal to Total Adjusted Operated Expenses (Non-GAAP). Refer to the \"Reconciliation of our Adjusted Operating Expenses to our Operating Expenses\" table." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b27", + "block_sequence": 27, + "block_sha256": "ff307b0f250ba2ba0fb9cb99569496d3c7e80e2944c8519f7b1ebe7bbc062b05", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 27, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "9b851f07026d39b226dfcb16903112c4769b3cdd8575a27e1ab9e195d8343928", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk012.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b28", + "block_sequence": 28, + "block_sha256": "ba48eaf6a814ef30eb54267f427c19f091305db3bcacfec0bfa227b0314b4e8a", + "block_type": "paragraph", + "char_count": 1337, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 28, + "char_end": 1337, + "char_start": 0, + "fragment_sha256": "72b535785e0773f89ec582c3d1732b11419edc0d3fad25ccb4aed82130ccb791", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "(6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in \u201cDepreciation and amortization, excluding amortization of intangibles.\u201d Had this presentation been applied for the three months ended December 31, 2024, Adjusted Net Loss would have improved by $3 million, with no impact to Adjusted EBITDA." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b29", + "block_sequence": 29, + "block_sha256": "96ab0f7531c49c1e6f42800000f2e48248bf594488f6224fa74f5e20c604f956", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 29, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "0eca9a55d59e906f13293592f64fe7d13ac87ddfb670521d1d625137dd173307", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "exhibit992-q42025form8xk013.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b30", + "block_sequence": 30, + "block_sha256": "13f19439416f80329079b1321ba6c2fddc8e7ef14100cb4ee3a8677041c21a51", + "block_type": "paragraph", + "char_count": 3621, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", + "block_sequence": 30, + "char_end": 3621, + "char_start": 0, + "fragment_sha256": "79397bd45a18e68cb1bfeb1bb8bacf8940434e2c90713a13035c2893da2a4876", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. SEGMENT INFORMATION (Unaudited) Three Months Ended (in millions) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Revenue $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Less: Cost of revenue (679) (849) (1,439) (1,054) (999) Direct selling costs(1) (23) (28) (43) (29) (23) Holding costs(2) (15) (16) (23) (17) (14) Advertising and other marketing expense(3) (9) (7) (7) (24) (24) Operations(4) (13) (12) (15) (16) (17) Fixed operating expense(5) (35) (37) (31) (39) (43) CEO make-whole provision(6) (5) \u2014 \u2014 \u2014 \u2014 Stock-based compensation (16) (13) (13) (14) (23) Stock-based compensation for market condition RSUs (89) (14) \u2014 \u2014 \u2014 Interest expense (28) (34) (36) (33) (32) Interest income 13 12 9 5 11 Other(7) (933) (7) 2 (17) (33) Net loss $ (1,096) $ (90) $ (29) $ (85) $ (113) (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (2) Represents holding costs incurred both in the period presented and in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (3) Advertising expenses are included in Sales, marketing and operations. Other marketing expenses include non-advertising marketing expenses such as acquisition leads and referrals and public relations services and are included in Sales, marketing and operations. (4) Represents operating expenses that are generally related to the volume of homes transacted during the period and tend to be variable in nature. Primarily includes workforce expenses in support of sales, and real estate inventory operations. (5) Represents operating expenses that are not directly correlated with home transaction volumes. These expenses generally include costs related to salaries and benefits for our leadership, finance, technology, human resources, legal, marketing and administrative personnel, as well as third-party professional services fees, rent expense and third-party software. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Other segment income (expenses) are primarily made up of depreciation and amortization, gain on deconsolidation, net, restructuring, and amortization of stock-based compensation capitalized to internally developed software. 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"norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company’s financial results, these supplemental tables include references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results. Adjusted Gross Profit and Contribution Profit To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. 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Contribution Profit / Margin We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort. Adjusted Net Loss and Adjusted EBITDA / Margin We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss. 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It excludes expenses that are not directly related to our revenue generating operations such as restructuring, legal contingency accruals, and CEO make-whole provision. It excludes loss (gain) on extinguishment of debt as these gains or expenses were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Operating Expense We also present Adjusted Operating Expense, which is a non-GAAP financial measure that bridges the difference between Contribution Profit and Adjusted EBITDA. We believe this measure provides investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to Contribution Profit and certain charges that are non-cash, or not directly related to our revenue-generating operations are removed. Adjusted Operating Expense is a supplemental measure of our operating expenditures and has important limitations. For example, this measure excludes the impact of certain costs required to be recorded under GAAP. This measure removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. This measure could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, this measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of this measure to the most directly comparable GAAP financial measure, which is operating expenses. We calculate Adjusted Operating Expense as GAAP operating expense adjusted to exclude direct selling costs and holding costs included in determining Contribution Profit. The measure also excludes non-cash expenses of stock-based compensation, depreciation and amortization and the amortization of stock-based compensation capitalized to IDSW. It also excludes expenses that are not directly related to our revenue-generating operations such as restructuring charges, legal contingency accruals, and CEO make-whole provision."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b8"], "char_count": 2474, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e1705620b701d17909cdf12a859e1d614909cab5e0a8879cc6a37f5625b3c85c", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 8, "char_end": 5995, "char_start": 3521, "fragment_sha256": "93d30cb4312e1a9f01b31f1052755b30d8e3ae099e2b0f4acaf851d146b49ea1", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, Adjusted Technology and Development We also present Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development, which are non-GAAP financial measures that provide investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to contribution profit and certain charges that are non-cash are removed. These supplemental measures of our operating expenditures have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. Specifically, Adjusted Sales, Marketing and Operations removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. These measures could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which are Sales, marketing and operations expense, General and administrative expense and Technology and development expense. We calculate Adjusted Sales, Marketing and Operations as GAAP sales, marketing and operations expenses to exclude direct selling costs and holding costs included in determining Contribution Profit. This measure also excludes non-cash expenses of stock-based compensation associated with sales, marketing and operations assets. We calculate Adjusted General and Administrative as GAAP general and administrative expenses to exclude non-cash expenses of stock-based compensation associated with general and administrative assets. It also excludes expenses that are not directly related to our revenue-generating operations such as legal contingency accruals and CEO make-whole provision. We calculate Adjusted Technology and Development as GAAP technology and development expenses to exclude non-cash expenses of stock-based compensation, the amortization of stock-based compensation capitalized to IDSW, and depreciation and amortization associated with technology and development assets."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b10", "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b12"], "char_count": 2477, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c12675b715d40747846c09497b5b9a91c20dbfc6e8df35bd40f6bd03c738a8c7", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 10, "char_end": 1350, "char_start": 0, "fragment_sha256": "dc2bdab32effd74358520b39e1617d2faebdc4eefeeb904abed996f78fed97c3", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 12, "char_end": 1125, "char_start": 0, "fragment_sha256": "51690def56d2c1ad8a563668d2d0c98b620975ea4274de0178dd4b0d399f9f7c", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP MEASURES & KEY METRICS (Unaudited) Period Ended ($ in millions, except homes purchased, homes sold, homes in inventory, and margins) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Key Metrics Total Revenue $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Gross profit $ 57 $ 66 $ 128 $ 99 $ 85 Net loss $ (1,096) $ (90) $ (29) $ (85) $ (113) Inventory (at period end) $ 925 $ 1,053 $ 1,530 $ 2,362 $ 2,159 Non-GAAP Financial Measures Adjusted Gross Profit $ 45 $ 64 $ 135 $ 100 $ 75 Selling Costs (23) (28) (43) (29) (23) Holding Costs (15) (16) (23) (17) (14) Contribution Profit $ 7 $ 20 $ 69 $ 54 $ 38 Adjusted EBITDA $ (43) $ (33) $ 23 $ (30) $ (49) Adjusted Net Loss $ (62) $ (61) $ (9) $ (63) $ (77) Margins Total Revenue 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Gross profit 7.7 % 7.2 % 8.2 % 8.6 % 7.8 % Adjusted Gross Profit 6.1 % 7.0 % 8.6 % 8.7 % 6.9 % Contribution Profit 1.0 % 2.2 % 4.4 % 4.7 % 3.5 % Net loss (148.9) % (9.8) % (1.9) % (7.4) % (10.4) % Adjusted EBITDA (5.8) % (3.6) % 1.5 % (2.6) % (4.5) % Adjusted Net Loss (8.4) % (6.7) % (0.6) % (5.5) % (7.1) % Inventory Rollforward Homes in Inventory (at beginning of period) 3,139 4,538 7,080 6,417 6,288 Homes Purchased 1,706 1,169 1,757 3,609 2,951 Homes Sold (1,978) (2,568) (4,299) (2,946) (2,822) Homes in Inventory (at period end) 2,867 3,139 4,538 7,080 6,417\n\nOPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are presented in thousands, and per share amounts) (Unaudited) Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 REVENUE $ 736 $ 1,084 $ 4,371 $ 5,153 COST OF REVENUE 679 999 4,021 4,720 GROSS PROFIT 57 85 350 433 OPERATING EXPENSES: Sales, marketing and operations 60 88 310 413 General and administrative 129 41 238 182 Technology and development 18 33 79 141 Restructuring — 17 10 17 Total operating expenses 207 179 637 753 LOSS FROM OPERATIONS (150) (94) (287) (320) (LOSS) GAIN ON EXTINGUISHMENT OF DEBT (933) (1) (924) (2) INTEREST EXPENSE (28) (32) (131) (133) OTHER INCOME – Net 14 14 42 64 LOSS BEFORE INCOME TAXES (1,097) (113) (1,300) (391) INCOME TAX EXPENSE 1 — — (1) NET LOSS $ (1,096) $ (113) $ (1,300) $ (392) Net loss per share attributable to common shareholders: Basic $ (1.26) $ (0.16) $ (1.70) $ (0.56) Diluted $ (1.26) $ (0.16) $ (1.70) $ (0.56) Weighted-average shares outstanding: Basic 869,822 716,317 766,531 699,457 Diluted 869,822 716,317 766,531 699,457"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b14", "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b16"], "char_count": 3395, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2b29c9628112db80a245bc2cf4aebe16390415384041377a8e8fbf89f9436b85", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 14, "char_end": 1456, "char_start": 0, "fragment_sha256": "d8371373b2da1f7d8feb329f5ecb982278eeec7e3ba05ba71295759f1ccff5b1", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 16, "char_end": 1937, "char_start": 0, "fragment_sha256": "b035a807091b066e236afa91c97751daedfb8af3c2fd573a413d8e5c82d37232", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except share data) (Unaudited) December 31, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 962 $ 671 Restricted cash 339 92 Marketable securities — 8 Escrow receivable 4 6 Real estate inventory, net 925 2,159 Other current assets 69 61 Total current assets 2,299 2,997 PROPERTY AND EQUIPMENT – Net 27 48 RIGHT OF USE ASSETS 8 18 GOODWILL 3 3 OTHER ASSETS 70 60 TOTAL ASSETS $ 2,407 $ 3,126 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable and other accrued liabilities $ 80 $ 92 Non-recourse asset-backed debt – current portion 52 432 Convertible senior notes – current portion 193 — Interest payable 1 3 Lease liabilities – current portion 1 2 Total current liabilities 327 529 NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 1,068 1,492 CONVERTIBLE SENIOR NOTES – Net of current portion — 378 LEASE LIABILITIES – Net of current portion 6 13 OTHER LIABILITIES 1 1 Total liabilities 1,402 2,413 SHAREHOLDERS’ EQUITY: Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 957,245,487 and 719,990,121 shares issued, respectively; 957,245,487 and 719,990,121 shares outstanding, respectively — — Additional paid-in capital 6,038 4,438 Accumulated deficit (5,033) (3,725) Accumulated other comprehensive loss — — Total shareholders’ equity 1,005 713 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,407 $ 3,126\n\nOPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Year Ended December 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (1,300) $ (392) Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: Depreciation and amortization 44 48 Amortization of right of use asset 2 5 Stock-based compensation 159 114 Inventory valuation adjustment 57 57 Change in fair value of equity securities 3 7 Other 5 7 Loss (gain) on early extinguishment of debt 924 2 Gain on deconsolidation, net — (14) Changes in operating assets and liabilities: Escrow receivable 2 3 Real estate inventory 1,172 (449) Other assets (9) (10) Accounts payable and other accrued liabilities (7) 31 Interest payable (2) 2 Lease liabilities (1) (6) Net cash provided by (used in) operating activities 1,049 (595) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (12) (25) Proceeds from sales, maturities, redemptions and paydowns of marketable securities 6 55 Purchase of equity investments (6) — Cash impact of deconsolidation of subsidiaries — (2) Net cash (used in) provided by investing activities (12) 28 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of convertible senior notes, net of discount 75 — Repurchase of convertible senior notes (1,176) — Settlement of capped calls related to the convertible senior notes 1 2 Proceeds from exercise of stock options 4 — Proceeds from issuance of common stock for ESPP 2 5 Proceeds from PIPE offering 41 — Proceeds from the issuance of common stock under at-the-market offering, net 198 — Issuance of common stock in connection with the repurchase of convertible notes 1,184 — Proceeds from non-recourse asset-backed debt 684 498 Principal payments on non-recourse asset-backed debt (1,489) (715) Payment of loan origination fees and debt issuance costs (17) —"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b18", "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b20"], "char_count": 3406, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "be647b8ed18542a1cd96294532c0721bb05c80e0a475dfcfcb15615d12bc6ed1", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 18, "char_end": 1006, "char_start": 0, "fragment_sha256": "091f8005a8e403342538839bdc4e8f597012e9a6fce5f4513ba7553e9772201b", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 20, "char_end": 2398, "char_start": 0, "fragment_sha256": "a8418ae4c5576c2bac6f82cc8559a8c9e1474b7f4c5c582b89d834ab27c1c01c", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "Payment for early extinguishment of debt (4) — Other financing activities (2) — Net cash used in financing activities (499) (210) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 538 (777) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period 763 1,540 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period $ 1,301 $ 763 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest $ 120 $ 121 DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: Stock-based compensation expense capitalized for internally developed software $ 4 $ 15 Principal value of 2026 Notes extinguished in Debt Exchange $ (246) $ — Principal value of 2030 Notes issued in Debt Exchange $ 246 $ — Investment in non-marketable equity securities of deconsolidated entities $ 3 $ 39 RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 962 $ 671 Restricted cash 339 92 Cash, cash equivalents, and restricted cash $ 1,301 $ 763\n\nOPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Gross Profit and Contribution Profit to our Gross Profit Three Months Ended (in millions, except percentages and homes sold, or as noted) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Revenue (GAAP) $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Gross profit (GAAP) $ 57 $ 66 $ 128 $ 99 $ 85 Gross Margin 7.7 % 7.2 % 8.2 % 8.6 % 7.8 % Adjustments: Inventory valuation adjustment – Current Period (1)(2) 9 15 21 13 6 Inventory valuation adjustment – Prior Periods (1)(3) (21) (17) (14) (12) (16) Adjusted Gross Profit $ 45 $ 64 $ 135 $ 100 $ 75 Adjusted Gross Margin 6.1 % 7.0 % 8.6 % 8.7 % 6.9 % Adjustments: Direct selling costs (4) (23) (28) (43) (29) (23) Holding costs on sales – Current Period (5)(6) (4) (4) (6) (5) (4) Holding costs on sales – Prior Periods (5)(7) (11) (12) (17) (12) (10) Contribution Profit $ 7 $ 20 $ 69 $ 54 $ 38 Homes sold in period 1,978 2,568 4,299 2,946 2,822 Contribution Profit per Home Sold (in thousands) $ 4 $ 8 $ 16 $ 18 $ 13 Contribution Margin 1.0 % 2.2 % 4.4 % 4.7 % 3.5 % (1) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2) Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3) Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5) Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6) Represents holding costs incurred in the period presented on homes sold in the period presented. (7) Represents holding costs incurred in prior periods on homes sold in the period presented."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b22"], "char_count": 3808, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ad58f7fe7e5584e06d6179b25dbf79c536a61c3fe0e9eaef69ecbfb74ef9edf9", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 22, "char_end": 3808, "char_start": 0, "fragment_sha256": "9eea69fc3fee2a2391b3c143f549ce850628daa5786e5feea2d597416a27ebaa", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our Net Loss Three Months Ended (in millions, except percentages) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Revenue (GAAP) $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Net loss (GAAP) $ (1,096) $ (90) $ (29) $ (85) $ (113) Adjustments: Stock-based compensation 16 13 13 14 23 Stock-based compensation for market condition RSUs 89 14 — — — Equity securities fair value adjustment(1) — — — 3 — Amortization of stock-based compensation capitalized to IDSW(2) 3 4 4 3 — Inventory valuation adjustment – Current Period(3)(4) 9 15 21 13 6 Inventory valuation adjustment — Prior Periods(3)(5) (21) (17) (14) (12) (16) Restructuring(6) — 1 6 3 17 CEO make-whole provision(7) 5 — — — — Loss (gain) on extinguishment of debt 933 1 (10) — 1 Legal contingency accrual and related expenses — — — — 5 Other(8) — (2) — (2) — Adjusted Net Loss $ (62) $ (61) $ (9) $ (63) $ (77) Adjustments: Depreciation and amortization, excluding amortization of intangibles 5 5 5 5 7 Property financing(9) 21 23 29 29 28 Other interest expense(10) 7 11 7 4 4 Interest income(11) (13) (12) (9) (5) (11) Income tax expense (1) 1 — — — Adjusted EBITDA $ (43) $ (33) $ 23 $ (30) $ (49) Adjusted EBITDA Margin (5.8) % (3.6) % 1.5 % (2.6) % (4.5) % (1) Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024, Adjusted Net Loss would have improved by $3 million, with no impact to Adjusted EBITDA. (3) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (4) Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (5) Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (6) Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees’ roles, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process. (7) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (8) Primarily includes gain on deconsolidation, net and related party services income. (9) Includes interest expense on our non-recourse asset-backed debt facilities."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b22"], "char_count": 414, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "335625cb8f280d9716bb61c1ee3d0d61b1e001c7319b62a6948021bb62fd187e", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 22, "char_end": 4222, "char_start": 3808, "fragment_sha256": "9eea69fc3fee2a2391b3c143f549ce850628daa5786e5feea2d597416a27ebaa", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "(10) Includes (i) amortization of debt issuance costs, loan origination fees, commitment fees, unused fees, and other interest-related costs on our asset-backed debt facilities, and (ii) amortization of debt issuance costs and debt discounts and interest expense related to our convertible senior notes. (11) Consists mainly of interest earned on cash, cash equivalents, restricted cash, and marketable securities."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b24"], "char_count": 3304, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "07e44dee88b4beb099dd5dc2581a525ae0d8e668132567a66b55ee0e844e5f10", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 24, "char_end": 3304, "char_start": 0, "fragment_sha256": "c826f46bb06a35a0846f265fc0f0ec96f400778fa4013686c28435875991319e", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Operating Expenses to our Operating Expenses Three Months Ended (in millions, except percentages) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 OPERATING EXPENSES: Sales, marketing and operations 60 66 86 98 88 General and administrative 129 48 28 33 41 Technology and development 18 19 21 21 33 Restructuring — 1 6 3 17 Total Operating Expenses (GAAP) $ 207 $ 134 $ 141 $ 155 $ 179 Operating Expenses (GAAP) $ 207 $ 134 $ 141 $ 155 $ 179 Adjustments: Direct Selling Costs(1) (23) (28) (43) (29) (23) Holding costs included in contribution profit(2) (15) (16) (23) (17) (14) Stock-based compensation (16) (13) (13) (14) (23) Stock-based compensation for market condition RSUs (89) (14) — — — Amortization of stock-based compensation capitalized IDSW(3) (3) (4) (4) (3) — Restructuring — (1) (6) (3) (17) CEO make-whole provision(4) (5) — — — — Legal contingency accrual — — — — (5) Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (7) Other (1) — (1) — (3) Total Adjusted Operating Expenses (Non-GAAP) $ 50 $ 53 $ 46 $ 84 $ 87 (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations. (2) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (“GAAP Holding Costs”). (3) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024, 2024, Adjusted Net Loss would have improved by $3 million, with no impact to Adjusted EBITDA. (4) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b26"], "char_count": 3424, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "45c953f35dba398f351285a2dcbd8889d6eef77b1c965414cc6a9ca404836ecc", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 26, "char_end": 3424, "char_start": 0, "fragment_sha256": "4aeea69090d978c7004e3934e5bdbe1cc98e04026718295a186b5f3bb310f979", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Sales, Marketing and Operatiions; Adjusted General and Administrative; and Adjusted Technology and Developement Expenses to Their Corresponding GAAP Measures Three Months Ended (in millions) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Sales, marketing and operations (GAAP)(1) $ 60 $ 66 $ 86 $ 98 $ 88 Direct Selling Costs(2) (23) (28) (43) (29) (23) Holding costs included in contribution profit(3)(4) (15) (16) (23) (17) (14) Stock-based compensation (1) (2) (2) (2) (2) Adjusted Sales, Marketing and Operations (Non- GAAP)(5) $ 21 $ 20 $ 18 $ 50 $ 49 General and administrative (GAAP) $ 129 $ 48 $ 28 $ 33 $ 41 Stock-based compensation (12) (9) (9) (9) (13) Stock-based compensation for market condition RSUs (89) (14) — — — CEO make-whole provision(6) (5) — — — — Legal contingency accrual and related expenses — — — — (5) Other 1 — — — — Adjusted General and Administrative (Non-GAAP)(5) $ 24 $ 25 $ 19 $ 24 $ 23 Technology and development (GAAP) $ 18 $ 19 $ 21 $ 21 $ 33 Stock-based compensation (3) (2) (2) (3) (8) Amortization of stock-based compensation capitalized to IDSW(7) (3) (4) (4) (3) — Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (7) Other (2) — (1) — (3) Adjusted Technology and Development (Non-GAAP)(5) $ 5 $ 8 $ 9 $ 10 $ 15 Note: Advertising expenses(1) $ 9 $ 7 $ 7 $ 24 $ 23 (1) Advertising expenses are included in Sales, marketing and operations. (2) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (3) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations in the period in which they are incurred (“GAAP Holding Costs”). (4) The table below presents the timing difference within Adjusted Sales, marketing and operations related to holding costs. The amount of GAAP Holding Costs recognized during the period may be in excess of/ (less than) the amount of Resale Cohort Holding costs related to homes sold in the relevant period and included in Contribution Profit. Three Months Ended December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Total GAAP Holding Costs $ 10 $ 12 $ 16 $ 21 $ 21 Holding costs on sales - Current Period (4) (4) (6) (5) (4) Holding costs on sales - Prior Periods (11) (12) (17) (12) (10) Less: Resale Cohort Holding Costs (15) (16) (23) (17) (14) GAAP Holding Costs in excess of / (less than) Resale Holding Costs included in Contribution Profit $ (5) $ (4) $ (7) $ 4 $ 7 (5) The sum of Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development expenses is equal to Total Adjusted Operated Expenses (Non-GAAP). Refer to the \"Reconciliation of our Adjusted Operating Expenses to our Operating Expenses\" table."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b28"], "char_count": 1337, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ba48eaf6a814ef30eb54267f427c19f091305db3bcacfec0bfa227b0314b4e8a", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 28, "char_end": 1337, "char_start": 0, "fragment_sha256": "72b535785e0773f89ec582c3d1732b11419edc0d3fad25ccb4aed82130ccb791", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "(6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024, Adjusted Net Loss would have improved by $3 million, with no impact to Adjusted EBITDA."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#b30"], "char_count": 3621, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "13f19439416f80329079b1321ba6c2fddc8e7ef14100cb4ee3a8677041c21a51", "derivation_id": "894967f9e83859cd086c8bd943828809c19a5c3fd1c226ca225cf85ac499bf34", "document_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "block_sequence": 30, "char_end": 3621, "char_start": 0, "fragment_sha256": "79397bd45a18e68cb1bfeb1bb8bacf8940434e2c90713a13035c2893da2a4876", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000009:exhibit992-q42025form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/exhibit992-q42025form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. SEGMENT INFORMATION (Unaudited) Three Months Ended (in millions) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Revenue $ 736 $ 915 $ 1,567 $ 1,153 $ 1,084 Less: Cost of revenue (679) (849) (1,439) (1,054) (999) Direct selling costs(1) (23) (28) (43) (29) (23) Holding costs(2) (15) (16) (23) (17) (14) Advertising and other marketing expense(3) (9) (7) (7) (24) (24) Operations(4) (13) (12) (15) (16) (17) Fixed operating expense(5) (35) (37) (31) (39) (43) CEO make-whole provision(6) (5) — — — — Stock-based compensation (16) (13) (13) (14) (23) Stock-based compensation for market condition RSUs (89) (14) — — — Interest expense (28) (34) (36) (33) (32) Interest income 13 12 9 5 11 Other(7) (933) (7) 2 (17) (33) Net loss $ (1,096) $ (90) $ (29) $ (85) $ (113) (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (2) Represents holding costs incurred both in the period presented and in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations in the period in which they are incurred (“GAAP Holding Costs”). (3) Advertising expenses are included in Sales, marketing and operations. Other marketing expenses include non-advertising marketing expenses such as acquisition leads and referrals and public relations services and are included in Sales, marketing and operations. (4) Represents operating expenses that are generally related to the volume of homes transacted during the period and tend to be variable in nature. Primarily includes workforce expenses in support of sales, and real estate inventory operations. (5) Represents operating expenses that are not directly correlated with home transaction volumes. These expenses generally include costs related to salaries and benefits for our leadership, finance, technology, human resources, legal, marketing and administrative personnel, as well as third-party professional services fees, rent expense and third-party software. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Other segment income (expenses) are primarily made up of depreciation and amortization, gain on deconsolidation, net, restructuring, and amortization of stock-based compensation capitalized to internally developed software. This also includes the elimination of holding costs incurred in prior periods on homes sold in the periods presented, and includes holding costs incurred in the current period on homes remaining in inventory at period end."} diff --git a/data/normalized/sec/0001801169/8-K/2026-02-19_0001801169-26-000009/norm_0001801169_0001801169-26-000009_exhibit993-4q25opendoors.htm.json b/data/normalized/sec/0001801169/8-K/2026-02-19_0001801169-26-000009/norm_0001801169_0001801169-26-000009_exhibit993-4q25opendoors.htm.json new file mode 100644 index 0000000000000000000000000000000000000000..b1f3adbadd03cee69f9b39b92ece42f411a114c5 --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2026-02-19_0001801169-26-000009/norm_0001801169_0001801169-26-000009_exhibit993-4q25opendoors.htm.json @@ -0,0 +1,472 @@ +{ + "acceptance_datetime": "2026-02-19T16:22:53.000Z", + "amends_accession": null, + "artifact_role": "ex99-03", + "blocks": [ + { + "block_id": 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Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000009:open-20260219.htm#b22"], "char_count": 270, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "df7e6c8b53928d25b37faa220c3de279794bb1e282eace465a8179d22d32c5d7", "derivation_id": "7be7db496175f51b9e746094c2effaeadcec65d1710021f6ac8676fc42fb49a7", "document_id": "norm:0001801169:0001801169-26-000009:open-20260219.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 2.02", "Results of Operations and Financial Condition"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:open-20260219.htm", "block_sequence": 22, "char_end": 270, "char_start": 0, "fragment_sha256": "5289ea18c3e14e8e9184e343e5ffb4d8372849306cd5eae634a69f2689ef78e1", "heading_path": ["N/A", "Item 2.02", "Results of Operations and Financial Condition"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:open-20260219.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:open-20260219.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000009:open-20260219.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/open-20260219.htm", "table_id": null, "text": "On February 19, 2026, Opendoor Technologies Inc. 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A copy of the Supplement and the Supplemental Macro Charts is attached to this Current Report on Form 8-K as Exhibit 99.2 and 99.3, respectively. 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(Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its fourth quarter and year ended December 31, 2025. \u201cLast quarter, we outlined a four-step plan to transform Opendoor: reach breakeven Adjusted Net Income by the end of 2026 on a 12-month go-forward basis, drive positive unit economics while increasing transaction velocity, transition to direct-to-consumer relationships, and expand our product suite. This quarter demonstrates we are executing on that plan,\u201d said Kaz Nejatian, CEO of Opendoor. \u201cThese results reflect structural improvements in how we operate with more accurate pricing, faster inventory turns, and disciplined selection. \u201cThe evidence of progress is clear. 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"heading_path": [ + "EX-99.1", + "Financial Outlook" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s7", + "table": null, + "text": "We're focused on making the right long-term decisions to rebuild Opendoor rather than managing to short-term guidance. We're making meaningful progress and remain focused on execution. With that context, we want to provide you with the following guideposts: \u2022We are driving to Adjusted Net Income positive by the end of 2026, measured on a twelve-month go-forward basis. \u2022Q1 2026 Financial Outlook: \u25e6Acquisitions: You can track our acquisition contracts on accountable.opendoor.com1. \u25e6Revenue: We expect a decrease of approximately 10% quarter-over-quarter. \u25e6Contribution Margin2: Our contribution margin bottomed out in September and has been improving every month since. We expect to exit Q1 2026 with the highest contribution margin we've posted since Q2 2024. \u25e6Adjusted EBITDA2: We expect Q1 2026 adjusted EBITDA loss in the low to mid $30 millions. You can continue to follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b17", + "block_sequence": 17, + "block_sha256": "a6d5472b2970d188397362cbeb120c141dfa00ea685622341f4da2accca23ec9", + "block_type": "heading", + "char_count": 35, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 17, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "ccf6c2cf0f1f487e4dee6c0db9db5e9ad5d5e52b2d1efdb317ea9c44fd3567ef", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s8", + "table": null, + "text": "Conference Call and Webcast Details" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b18", + "block_sequence": 18, + "block_sha256": "43ea9eb365328677da510bf5768e324247c4820791f4ec258acd04d5a905bb8e", + "block_type": "paragraph", + "char_count": 321, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 18, + "char_end": 321, + "char_start": 0, + "fragment_sha256": "75f1853ff54c28f1d4bd322e1f54dcaadf704a7decb6353c5438d08b19326471", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s8", + "table": null, + "text": "Opendoor will host a webcast to discuss its financial results on February 19, 2026, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor\u2019s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b19", + "block_sequence": 19, + "block_sha256": "bee3b0c71ab4d6d3fe30831f8a6898f49de6dcbb44cd92a09d86856b2468a886", + "block_type": "heading", + "char_count": 14, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 19, + "char_end": 14, + "char_start": 0, + "fragment_sha256": "dd930d2d16d35ad4c859f05048a9f04e72150ae2a23adec43f0c06ed406a1ef7", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "About Opendoor" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s9", + "table": null, + "text": "About Opendoor" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b20", + "block_sequence": 20, + "block_sha256": "7a764afc5afbddbcadda2010607f6f85563d3612004ed55929e9dbc6deb0b1a6", + "block_type": "paragraph", + "char_count": 2576, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 20, + "char_end": 2576, + "char_start": 0, + "fragment_sha256": "7d3d436ed09b3bbda415d581996793328003a457c32c801d8621c72af246332d", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "About Opendoor" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s9", + "table": null, + "text": "Opendoor\u2019s mission is to tilt the world in favor of homeowners and those working hard to become one. Since 2014, the company has provided people across the U.S. with a simpler, more certain way to sell and buy a home. Opendoor currently operates in markets nationwide. For more information, please visit www.opendoor.com. Opendoor investors and others should note that we have used, and intend to continue to use, our website (including accountable.opendoor.com and investor.opendoor.com), press releases, Securities and Exchange Commission (\u201cSEC\u201d) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @Nejatian, and @Opendoor, as 1 The estimates and information presented at accountable.opendoor.com rely on assumptions and are subject to limitations; accordingly, no guarantee is made as to their accuracy. Acquisition contract volume represents contracts under which Opendoor has agreed to acquire a property, including through its Cash Plus program, and does not reflect contracts that are subsequently cancelled. 2 Opendoor has not provided a quantitative reconciliation of forecasted Contribution Margin to forecasted GAAP gross margin nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss), GAAP gross margin, and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company\u2019s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see \u201cUse of Non-GAAP Financial Measures\u201d following the financial tables below. means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor\u2019s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b21", + "block_sequence": 21, + "block_sha256": "1d8469bf9c663edb3c938b337e8eb7b6386c9f6dc8633427fe813d5f0ad02182", + "block_type": "heading", + "char_count": 26, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 21, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "48f698fb26c93cff4f34599156ab1b29c036dd4d3e3f61d2371b673f76610166", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s10", + "table": null, + "text": "Forward Looking Statements" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b22", + "block_sequence": 22, + "block_sha256": "be0cc57e66d7e7a8a8f07fe1e88f8f7b3de736d7c7b16895af735596ffe4314a", + "block_type": "paragraph", + "char_count": 6542, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 22, + "char_end": 6542, + "char_start": 0, + "fragment_sha256": "5009819e0a2b6f3b5851b02357838093218171aebcba1991e5378306db63af5b", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s10", + "table": null, + "text": "This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our fiscal 2026 and first quarter of 2026 financial outlook; scaling acquisitions, improving unit economics and resale velocity, and building operating leverage; transitioning to direct-to-consumer relationships and expanding our product suite; ongoing performance of our October 2025 cohort; our future product offerings, including our ability to leverage AI to drive operational efficiency; the future health and status of our financial condition; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: our ability to implement our strategy; the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock and warrants. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on or about February 19, 2026, as updated by our periodic reports and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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| (29) | | | $ | (85) | | | $ | (113) | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Homes sold | | 1,978 | | | 2,568 | | | 4,299 | | | 2,946 | | | 2,822 | | | | | | | | | | | | | | |\n| Homes purchased | | 1,706 | | | 1,169 | | | 1,757 | | | 3,609 | | | 2,951 | | | | | | | | | | | | | | |\n| Homes in inventory (at period end) | | 2,867 | | | 3,139 | | | 4,538 | | | 7,080 | | | 6,417 | | | | | | | | | | | | | | |\n| Inventory (at period end) | | $ | 925 | | | $ | 1,053 | | | $ | 1,530 | | | $ | 2,362 | | | $ | 2,159 | | | | | | | | | |\n| Percentage of homes \u201con the market\u201d for greater than 120 days (at period end) | | 33 | % | | 51 | % | | 36 | % | | 27 | % | | 46 | % | | | | | | | | | | | | | |\n| Non-GAAP Financial Highlights (1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Contribution Profit | | $ | 7 | | | $ | 20 | | | $ | 69 | | | $ | 54 | | | $ | 38 | | | | | | | | | |\n| Contribution Margin | | 1.0 | % | | 2.2 | % 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| | \nCURRENT ASSETS: | | | | | | | | \nCash and cash equivalents | | $ | 962 | | | $ | 671 | \nRestricted cash | | 339 | | | 92 | | | \nMarketable securities | | \u2014 | | | 8 | | | \nEscrow receivable | | 4 | | | 6 | | | \n | | | | | | | | \nReal estate inventory, net | | 925 | | | 2,159 | | | \nOther current assets | | 69 | | | 61 | | | \nTotal current assets | | 2,299 | | | 2,997 | | | \nPROPERTY AND EQUIPMENT \u2013 Net | | 27 | | | 48 | | | \nRIGHT OF USE ASSETS | | 8 | | | 18 | | | \nGOODWILL | | 3 | | | 3 | | | \n | | | | | | | | \nOTHER ASSETS | | 70 | | | 60 | | | \nTOTAL ASSETS | | $ | 2,407 | | | $ | 3,126 | \nLIABILITIES AND SHAREHOLDERS\u2019 EQUITY | | | | | | | | \nCURRENT LIABILITIES: | | | | | | | | \nAccounts payable and other accrued liabilities | | $ | 80 | | | $ | 92 | \nNon-recourse asset-backed debt \u2013 current portion | | 52 | | | 432 | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \nConvertible senior notes \u2013 current portion | | 193 | | | \u2014 | | | \nInterest payable | | 1 | | | 3 | | | \nLease liabilities \u2013 current portion | | 1 | | | 2 | | | \nTotal current liabilities | | 327 | | | 529 | | | \nNON-RECOURSE ASSET-BACKED DEBT \u2013 Net of current portion | | 1,068 | | | 1,492 | | | \nCONVERTIBLE SENIOR NOTES \u2013 Net of current portion | | \u2014 | | | 378 | | | \n | | | | | | | | \nLEASE LIABILITIES \u2013 Net of current portion | | 6 | | | 13 | | | \nOTHER LIABILITIES | | 1 | | | 1 | | | \nTotal liabilities | | 1,402 | | | 2,413 | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \n | | | | | | | | \nSHAREHOLDERS\u2019 EQUITY: | | | | | | | | \nCommon stock, $0.0001 par value; 3,000,000,000 shares authorized; 957,245,487 and 719,990,121 shares issued, respectively; 957,245,487 and 719,990,121 shares outstanding, respectively | | \u2014 | | | \u2014 | | | \nAdditional paid-in capital | | 6,038 | | | 4,438 | | | 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deconsolidation, net | \u2014 | | | (14) | | | |\n| Changes in operating assets and liabilities: | | | | | | | |\n| Escrow receivable | 2 | | | 3 | | | |\n| Real estate inventory | 1,172 | | | (449) | | | |\n| Other assets | (9) | | | (10) | | | |\n| Accounts payable and other accrued liabilities | (7) | | | 31 | | | |\n| Interest payable | (2) | | | 2 | | | |\n| Lease liabilities | (1) | | | (6) | | | |\n| Net cash provided by (used in) operating activities | 1,049 | | | (595) | | | |\n| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | |\n| Purchase of property and equipment | (12) | | | (25) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 6 | | | 55 | | | |\n| Purchase of equity investments | (6) | | | \u2014 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Cash impact of deconsolidation of subsidiaries | \u2014 | | | (2) | | | |\n| Net cash (used in) provided by investing activities | (12) | | | 28 | | | |\n| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from issuance of convertible senior notes, net of discount | 75 | | | \u2014 | | | |\n| Repurchase of convertible senior notes | (1,176) | | | \u2014 | | | |\n| | | | | | | | |\n| Settlement of capped calls related to the convertible senior notes | 1 | | | 2 | | | |\n| Proceeds from exercise of stock options | 4 | | | \u2014 | | | |\n| Proceeds from issuance of common stock for ESPP | 2 | | | 5 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from PIPE offering | 41 | | | \u2014 | | | |\n| Proceeds from the issuance of common stock under at-the-market offering, net | 198 | | | \u2014 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Issuance of common stock in connection with the repurchase of convertible notes | 1,184 | | | \u2014 | | | |\n| | | | | | | | |\n| 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"block_sha256": "40583c03f1d3b0e2e16efb16add734383057d49d69eee7f83c2684672ce6e3fd", + "block_type": "paragraph", + "char_count": 1234, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 50, + "char_end": 1234, + "char_start": 0, + "fragment_sha256": "59205403c1cf321612cff489025e62246c60944c87d20a3b172b788538b0b4ba", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s18", + "table": null, + "text": "To provide investors with additional information regarding the Company\u2019s financial results, this press release includes references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company\u2019s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company\u2019s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company\u2019s performance by excluding certain items that may not be indicative of the Company\u2019s recurring operating results." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b51", + "block_sequence": 51, + "block_sha256": "cf4412b7f2e978b2176133264010c82edd93914c688c938a6288ba932a7fe02a", + "block_type": "heading", + "char_count": 45, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 51, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "cf1b29446f8347dbf44d3e68ff9575480b999e280b6eb3c083fd07ac58bd12ec", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s19", + "table": null, + "text": "Adjusted Gross Profit and Contribution Profit" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b52", + "block_sequence": 52, + "block_sha256": "f3cfb30b6551441a3bbe77bf58a22571ed60536ec7666584924c117fa1614884", + "block_type": "paragraph", + "char_count": 1730, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 52, + "char_end": 1730, + "char_start": 0, + "fragment_sha256": "be052a30e7db53aabe2507012e4ccedc3a40b4a46a2942350d1a3f9148150b98", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s19", + "table": null, + "text": "To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor\u2019s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b53", + "block_sequence": 53, + "block_sha256": "3a0f4b517b2973d0284f077238ba89bbd42b072b4d09fc22bba1dad3687e0f87", + "block_type": "heading", + "char_count": 30, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 53, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "baa0cb19238757da38579cd06f1b18a8019e1e41ed4f96c6339b96ea68bd5910", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s20", + "table": null, + "text": "Adjusted Gross Profit / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b54", + "block_sequence": 54, + "block_sha256": "4d6022774af95a17dc18d15aa406e015335223e69ab92b2f6d95abe057dab923", + "block_type": "paragraph", + "char_count": 966, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 54, + "char_end": 966, + "char_start": 0, + "fragment_sha256": "62f3140fc23d7d69b87d6eceb6bd6e24d053b85b840902cc4a056be75d3eac42", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s20", + "table": null, + "text": "We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b55", + "block_sequence": 55, + "block_sha256": "530922c6281eb17366bc5afad3d135e14758fe69731bdbd8be3f74f8618ea5bf", + "block_type": "heading", + "char_count": 28, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 55, + "char_end": 28, + "char_start": 0, + "fragment_sha256": "4eedaa2d56b5e54507af525e8ebf0b1949eefc457d669b2295216ca9304155f7", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s21", + "table": null, + "text": "Contribution Profit / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b56", + "block_sequence": 56, + "block_sha256": "eac4f4f9f3c868dc6154b0922413435a9cd47a245adf064369122ad4b7dd0311", + "block_type": "paragraph", + "char_count": 779, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 56, + "char_end": 779, + "char_start": 0, + "fragment_sha256": "c2f676975848a60d5b101075d03f539dd68dedda08f80509577b0a7181ba702e", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s21", + "table": null, + "text": "We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b57", + "block_sequence": 57, + "block_sha256": "7460ff5afa74595bed1ed49c4ec349f88984782302cbab9cee3bae99ec2b46cd", + "block_type": "page_header", + "char_count": 26, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 57, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "6c09580c898ba7f1f243df20dc138e96cf3b26da61a7a28dfe22dc8b2b89bd47", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s21", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC." + }, + { + "block_id": 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"sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 61, + "char_end": 198, + "char_start": 0, + "fragment_sha256": "a0f6ae29659d90a33390f82e630c370861c4e68f01a915a1d115010bcea06190", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s22", + "table": null, + "text": "The following table presents a reconciliation of our Adjusted Gross Profit and Contribution Profit to our gross profit, which is the most directly comparable GAAP measure, for the periods indicated:" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b62", + "block_sequence": 62, + "block_sha256": "c83f7683b5b2954525a76ac4dae5cf6a72f2a1810afeb690d8bd667252b2a557", + "block_type": "table", + "char_count": 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Year Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages and homes sold, or as noted) | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 4,371 | | | $ | 5,153 | |\n| Gross profit (GAAP) | | $ | 57 | | | $ | 66 | | | $ | 128 | | | $ | 99 | | | $ | 85 | | | $ | 350 | | | $ | 433 | |\n| Gross Margin | | 7.7 | % | | 7.2 | % | | 8.2 | % | | 8.6 | % | | 7.8 | % | | 8.0 | % | | 8.4 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Inventory valuation adjustment \u2013 Current Period(1)(2) | | 9 | | | 15 | | | 21 | | | 13 | | | 6 | | | 19 | | | 25 | | | | | | | | |\n| Inventory valuation adjustment \u2013 Prior Periods(1)(3) | | (21) | | | (17) | | | (14) | | | (12) | | | (16) | | | (25) | | | (26) | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Adjusted Gross Profit | | $ | 45 | | | $ | 64 | | | $ | 135 | | | $ | 100 | | | $ | 75 | | | $ | 344 | | | $ | 432 | |\n| Adjusted Gross Margin | | 6.1 | % | | 7.0 | % | | 8.6 | % | | 8.7 | % | | 6.9 | % | | 7.9 | % | | 8.4 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Direct selling costs(4) | | (23) | | | (28) | | | (43) | | | (29) | | | (23) | | | (123) | | | (132) | | | | | | | | |\n| Holding costs on sales \u2013 Current Period(5)(6) | | (4) | | | (4) | | | (6) | | | (5) | | | (4) | | | (47) | | | (44) | | | | | | | | |\n| Holding costs on sales \u2013 Prior Periods(5)(7) | | (11) | | | (12) | | | (17) | | | (12) | | | (10) | | | (24) | | | (14) | | | | | | | | |\n| Contribution Profit | | $ | 7 | | | $ | 20 | | | $ | 69 | | | $ | 54 | | | $ | 38 | | | $ | 150 | | | $ | 242 | |\n| Homes sold in period | | 1,978 | | | 2,568 | | | 4,299 | | | 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Financial Measures", + "Contribution Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s22", + "table": null, + "text": "(1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5)Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b65", + "block_sequence": 65, + "block_sha256": "37935488b247cdf343c0c8144ff521e96ad9f18f66bbb30d6e7419e323a258dd", + "block_type": "heading", + "char_count": 37, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 65, + "char_end": 37, + "char_start": 0, + "fragment_sha256": "7d73a982a3059ce2d3fb2d6b67792ead1f8b44bb37c4d2e384f2b18bb474ec56", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s23", + "table": null, + "text": "Adjusted Net Loss and Adjusted EBITDA" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b66", + "block_sequence": 66, + "block_sha256": "30e3586e1712e96c1479714394b97d9b879cbd2828d27d768e91ef2ae245842e", + "block_type": "paragraph", + "char_count": 1547, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 66, + "char_end": 1547, + "char_start": 0, + "fragment_sha256": "a1a8ccfd071c8de8eda06c6ff64659d7fadb79fec3b42f3c93f08264bb446d21", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s23", + "table": null, + "text": "We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b67", + "block_sequence": 67, + "block_sha256": "236a9f2403017a5277b663ccb31ec43d8c2bfa477b0ef7a6739ae4ae9f4de383", + "block_type": "heading", + "char_count": 17, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 67, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "cb70ddf5f8ea6dedb56e75aef3d884bf0809082eeb0587d69c740ed25a2bff05", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s24", + "table": null, + "text": "Adjusted Net Loss" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b68", + "block_sequence": 68, + "block_sha256": "f845950056a305f3578f1a1063894a0aad72166ea6407ae752cde2f97de4c475", + "block_type": "paragraph", + "char_count": 1276, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 68, + "char_end": 1276, + "char_start": 0, + "fragment_sha256": "99dc2e0fa917e59d29a57f5f68c0de7d2f3d0ff71f5fec5da8549a54ff915f6b", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s24", + "table": null, + "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, intangibles amortization expense, and the amortization of stock-based compensation capitalized to internally developed software (\u201cIDSW\u201d). It excludes expenses that are not directly related to our revenue-generating operations such as restructuring, legal contingency accruals, and CEO make-whole provision . It also excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date." + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b69", + "block_sequence": 69, + "block_sha256": "e21a9b231049964de5ed48be4f1552178df178466705ae25a8ad92f9d827c980", + "block_type": "heading", + "char_count": 24, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 69, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "ac44008dd990c7ef1bad8982285a2d3ddeb230acc700e6c05708926dcdc574ab", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted EBITDA / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s25", + "table": null, + "text": "Adjusted EBITDA / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b70", + "block_sequence": 70, + "block_sha256": "dfcdd3eb3c508d47aa6b0f99c68aa27a5d519764353000222958249f2ccea5c0", + "block_type": "paragraph", + "char_count": 598, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", + "block_sequence": 70, + "char_end": 598, + "char_start": 0, + "fragment_sha256": "be86067c82d7130ef9ef84b3f3cfd8254f2d781e91fad24e7d514b62fd4b394b", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted EBITDA / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s25", + "table": null, + "text": "We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. 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We increased our homes purchased by 46% quarter-over-quarter, significantly reduced our capital intensity by expanding Cash Plus such that it is now 35% of our weekly volume, and we reduced average days in possession of our inventory by 23%. “Most significantly, our October 2025 acquisition cohort—both the first full month under the Opendoor 2.0 model and the first with mature sell-through data—is tracking to deliver the strongest contribution margins of any October cohort in Company history. And these homes are selling at more than twice the velocity of the October 2024 cohort, with over 50% already sold or under resale contract. While our newer cohorts are still early in their sell-through, we like what we see, and our Q1 2026 contribution margin guide post reflects our confidence in the trajectory for the portfolio.” As we introduced last quarter, we are executing against three management objectives critical to reaching profitability. 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(Reported quarterly). - Product, feature & partnership launches tracked on accountable.opendoor.com | - % of homes on the market over 120 Days declined from 51% to 33% quarter-over-quarter. |\n| (3) Build Operating Leverage (1) | - Fixed operating expenses hold relatively steady as we rescale volumes (Reported quarterly.) - Trailing 12-month operations expense as a % of trailing 12-month revenue holds relatively steady or dec… | - Fixed operating expenses were $35M in 4Q 2025 compared to $37M in 3Q 2025 and $43M in 4Q 2024, down $2M quarter-over-quarter and $8M year-over-year. - Trailing 12-month operations expense as a % of… |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b11"], "char_count": 236, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4c95d7b7eba67530caa7efd60a48117a5444c93b4bccd2820a862a07a3ea6dd5", "derivation_id": 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"table_id": null, "text": "(1) See Segment Information note within our most recent Annual Report on Form 10-K for the year ended December 31, 2025 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b13"], "char_count": 2899, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a30218af150b61126d769c5a3306578bfa702bd58dbc1a9f646915bde98cf47a", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Fourth Quarter and Full Year 2025 Key Highlights"], "items": 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"https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b13", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | | | Year Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (In millions, except percentages and non-dollar amounts) | | December 31, 2025 | | | | | | | | December 31, 2024 | | Change | | 2025 | | 2024 | | Change | | | | | | | | | | | | |\n| Revenue | | $ | 736 | | | | | | | | | $ | 1,084 | | | $ | (348) | | | $ | 4,371 | | | $ | 5,153 | | | $ | (782) | |\n| Gross profit | | $ | 57 | | | | | | | | | $ | 85 | | | $ | (28) | | | $ | 350 | | | $ | 433 | | | $ | (83) | |\n| Gross Margin | | 7.7 | % | | | | | | | | 7.8 | % | | | | 8.0 | % | | 8.4 | % | | | | | | | | | | |\n| Net loss | | $ | (1,096) | | | | | | | | | $ | (113) | | | $ | (983) | | | $ | (1,300) | | | $ | (392) | | | $ | (908) | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Homes sold | | 1,978 | | | | | | | | | 2,822 | | | (844) | | | 11,791 | | | 13,593 | | | (1,802) | | | | | | | |\n| Homes purchased | | 1,706 | | | | | | | | | 2,951 | | | (1,245) | | | 8,241 | | | 14,684 | | | (6,443) | | | | | | | |\n| Homes in inventory (at period end) | | 2,867 | | | | | | | | | 6,417 | | | (3,550) | | | 2,867 | | | 6,417 | | | (3,550) | | | | | | | |\n| Inventory (at period end) | | $ | 925 | | | | | | | | | $ | 2,159 | | | $ | (1,234) | | | $ | 925 | | | $ | 2,159 | | | $ | (1,234) | |\n| Homes under contract to purchase (at period end) | | 710 | | | | | | | | | 1,705 | | | | | 710 | | | 1,705 | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Non-GAAP Financial Highlights (1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Contribution Profit | | $ | 7 | | | | | | | | | $ | 38 | | | | | $ | 150 | | | $ | 242 | | | | | | | |\n| Contribution Margin | | 1.0 | % | | | | | | | | 3.5 | % | | | | 3.4 | % | | 4.7 | % | | | | | | | | | | |\n| Adjusted EBITDA | | $ | (43) | | | | | | | | | $ | (49) | | | | | $ | (83) | | | $ | (142) | | | | | | | |\n| Adjusted EBITDA Margin | | (5.8) | % | | | | | | | | (4.5) | % | | | | (1.9) | % | | (2.8) | % | | | | | | | | | | |\n| Adjusted Net Loss | | $ | (62) | | | | | | | | | $ | (77) | | | | | $ | (195) | | | $ | (258) | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b14"], "char_count": 155, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3bb7b2e5b1039668b89ffc7ecc64a57e256d00f540eb2c5be4e8c5317426760c", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EX-99.1", "Fourth Quarter and Full Year 2025 Key Highlights"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 14, "char_end": 155, "char_start": 0, "fragment_sha256": "1ffb275612f8a831a1744a3d261ec2581d5f66d2a9b8d75b7dfc61feaba6ff46", "heading_path": ["EX-99.1", "Fourth Quarter and Full Year 2025 Key Highlights"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s6", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "(1) See “—Use of Non-GAAP Financial Measures” for further details and a reconciliation of such non-GAAP measures to their nearest comparable GAAP measures."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b16"], "char_count": 1003, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b16a45a2d2d6c15b44d3142c8d450838681a0025332e358ad4ae559e5d57b72f", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 16, "char_end": 1003, "char_start": 0, "fragment_sha256": "54ebf34c023a97cd8fb132dda86ea26f13693ac1d90f93f6a22211735c7ca384", "heading_path": ["EX-99.1", "Financial Outlook"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s7", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "We're focused on making the right long-term decisions to rebuild Opendoor rather than managing to short-term guidance. We're making meaningful progress and remain focused on execution. With that context, we want to provide you with the following guideposts: •We are driving to Adjusted Net Income positive by the end of 2026, measured on a twelve-month go-forward basis. •Q1 2026 Financial Outlook: ◦Acquisitions: You can track our acquisition contracts on accountable.opendoor.com1. ◦Revenue: We expect a decrease of approximately 10% quarter-over-quarter. ◦Contribution Margin2: Our contribution margin bottomed out in September and has been improving every month since. We expect to exit Q1 2026 with the highest contribution margin we've posted since Q2 2024. ◦Adjusted EBITDA2: We expect Q1 2026 adjusted EBITDA loss in the low to mid $30 millions. You can continue to follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b18"], "char_count": 321, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "43ea9eb365328677da510bf5768e324247c4820791f4ec258acd04d5a905bb8e", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 18, "char_end": 321, "char_start": 0, "fragment_sha256": "75f1853ff54c28f1d4bd322e1f54dcaadf704a7decb6353c5438d08b19326471", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s8", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "Opendoor will host a webcast to discuss its financial results on February 19, 2026, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b20"], "char_count": 2576, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7a764afc5afbddbcadda2010607f6f85563d3612004ed55929e9dbc6deb0b1a6", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "About Opendoor"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 20, "char_end": 2576, "char_start": 0, "fragment_sha256": "7d3d436ed09b3bbda415d581996793328003a457c32c801d8621c72af246332d", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "About Opendoor"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s9", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "Opendoor’s mission is to tilt the world in favor of homeowners and those working hard to become one. Since 2014, the company has provided people across the U.S. with a simpler, more certain way to sell and buy a home. Opendoor currently operates in markets nationwide. For more information, please visit www.opendoor.com. Opendoor investors and others should note that we have used, and intend to continue to use, our website (including accountable.opendoor.com and investor.opendoor.com), press releases, Securities and Exchange Commission (“SEC”) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @Nejatian, and @Opendoor, as 1 The estimates and information presented at accountable.opendoor.com rely on assumptions and are subject to limitations; accordingly, no guarantee is made as to their accuracy. Acquisition contract volume represents contracts under which Opendoor has agreed to acquire a property, including through its Cash Plus program, and does not reflect contracts that are subsequently cancelled. 2 Opendoor has not provided a quantitative reconciliation of forecasted Contribution Margin to forecasted GAAP gross margin nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss), GAAP gross margin, and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see “Use of Non-GAAP Financial Measures” following the financial tables below. means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor’s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b22"], "char_count": 1704, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b1ebf06197569f61a4d3f07a455d5d79e6a136ecb4ec80e3360825f2bb24026f", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 22, "char_end": 1704, "char_start": 0, "fragment_sha256": "5009819e0a2b6f3b5851b02357838093218171aebcba1991e5378306db63af5b", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s10", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our fiscal 2026 and first quarter of 2026 financial outlook; scaling acquisitions, improving unit economics and resale velocity, and building operating leverage; transitioning to direct-to-consumer relationships and expanding our product suite; ongoing performance of our October 2025 cohort; our future product offerings, including our ability to leverage AI to drive operational efficiency; the future health and status of our financial condition; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b22"], "char_count": 3891, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2b48ef1b7095ddda61aac1749560fdf1887a7fad14491da4a1fe3933d640aee9", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 22, "char_end": 5595, "char_start": 1704, "fragment_sha256": "5009819e0a2b6f3b5851b02357838093218171aebcba1991e5378306db63af5b", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s10", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: our ability to implement our strategy; the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing and securitization funding to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock and warrants. 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These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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| $ | 1,053 | | | $ | 1,530 | | | $ | 2,362 | | | $ | 2,159 | | | | | | | | | |\n| Percentage of homes “on the market” for greater than 120 days (at period end) | | 33 | % | | 51 | % | | 36 | % | | 27 | % | | 46 | % | | | | | | | | | | | | | |\n| Non-GAAP Financial Highlights (1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Contribution Profit | | $ | 7 | | | $ | 20 | | | $ | 69 | | | $ | 54 | | | $ | 38 | | | | | | | | | |\n| Contribution Margin | | 1.0 | % | | 2.2 | % | | 4.4 | % | | 4.7 | % | | 3.5 | % | | | | | | | | | | | | | |\n| Adjusted EBITDA | | $ | (43) | | | $ | (33) | | | $ | 23 | | | $ | (30) | | | $ | (49) | | | | | | | | | |\n| Adjusted EBITDA Margin | | (5.8) | % | | (3.6) | % | | 1.5 | % | | (2.6) | % | | (4.5) | % | | | | | | | | | | | | | |\n| Adjusted Net Loss | | $ | (62) | | | $ | (61) | | | $ | (9) | | | $ | (63) | | | $ | (77) | | | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": 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--- | --- | --- | --- | --- | --- |\n| | Three Months Ended | | Year Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | |\n| | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| REVENUE | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 4,371 | | | $ | 5,153 | |\n| COST OF REVENUE | 679 | | | 849 | | | 1,439 | | | 1,054 | | | 999 | | | 4,021 | | | 4,720 | | | | | | | | |\n| GROSS PROFIT | 57 | | | 66 | | | 128 | | | 99 | | | 85 | | | 350 | | | 433 | | | | | | | | |\n| OPERATING EXPENSES: | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Sales, marketing and operations | 60 | | | 66 | | | 86 | | | 98 | | | 88 | | | 310 | | | 413 | | | | | | | | |\n| General and administrative | 129 | | | 48 | | | 28 | | | 33 | | | 41 | | | 238 | | | 182 | | | | | | | | |\n| Technology and development | 18 | | | 19 | | | 21 | | | 21 | | | 33 | | | 79 | | | 141 | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Restructuring | — | | | 1 | | | 6 | | | 3 | | | 17 | | | 10 | | | 17 | | | | | | | | |\n| Total operating expenses | 207 | | | 134 | | | 141 | | | 155 | | | 179 | | | 637 | | | 753 | | | | | | | | |\n| LOSS FROM OPERATIONS | (150) | | | (68) | | | (13) | | | (56) | | | (94) | | | (287) | | | (320) | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| (LOSS) GAIN ON EXTINGUISHMENT OF DEBT | (933) | | | (1) | | | 10 | | | — | | | (1) | | | (924) | | | (2) | | | | | | | | |\n| INTEREST EXPENSE | (28) | | | (34) | | | (36) | | | (33) | | | (32) | | | (131) | | | (133) | | | | | | | | |\n| OTHER INCOME – Net | 14 | | | 14 | | | 10 | | | 4 | | | 14 | | | 42 | | | 64 | | | | | | | | |\n| LOSS BEFORE INCOME TAXES | (1,097) | | | (89) | | | (29) | | | (85) | | | (113) | | | (1,300) | | | (391) | | | | | | | | |\n| INCOME TAX EXPENSE | 1 | | | (1) | | | — | | | — | | | — | | | — | 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receivable | | 4 | | | 6 | | | |\n| | | | | | | | | |\n| Real estate inventory, net | | 925 | | | 2,159 | | | |\n| Other current assets | | 69 | | | 61 | | | |\n| Total current assets | | 2,299 | | | 2,997 | | | |\n| PROPERTY AND EQUIPMENT – Net | | 27 | | | 48 | | | |\n| RIGHT OF USE ASSETS | | 8 | | | 18 | | | |\n| GOODWILL | | 3 | | | 3 | | | |\n| | | | | | | | | |\n| OTHER ASSETS | | 70 | | | 60 | | | |\n| TOTAL ASSETS | | $ | 2,407 | | | $ | 3,126 | |\n| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | |\n| CURRENT LIABILITIES: | | | | | | | | |\n| Accounts payable and other accrued liabilities | | $ | 80 | | | $ | 92 | |\n| Non-recourse asset-backed debt – current portion | | 52 | | | 432 | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| Convertible senior notes – current portion | | 193 | | | — | | | |\n| Interest payable | | 1 | | | 3 | | | |\n| Lease liabilities – current portion | | 1 | | | 2 | | | |\n| Total current liabilities | | 327 | | | 529 | 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Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: | | | | | | | |\n| Depreciation and amortization | 44 | | | 48 | | | |\n| Amortization of right of use asset | 2 | | | 5 | | | |\n| | | | | | | | |\n| Stock-based compensation | 159 | | | 114 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Inventory valuation adjustment | 57 | | | 57 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Change in fair value of equity securities | 3 | | | 7 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Other | 5 | | | 7 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Loss (gain) on early extinguishment of debt | 924 | | | 2 | | | |\n| Gain on deconsolidation, net | — | | | (14) | | | |\n| Changes in operating assets and liabilities: | | | | | | | |\n| Escrow receivable | 2 | | | 3 | | | |\n| Real estate inventory | 1,172 | | | (449) | | | |\n| Other assets | (9) | | | (10) | | | |\n| Accounts payable and other accrued liabilities | (7) | | | 31 | | | |\n| Interest payable | (2) | | | 2 | | | |\n| Lease liabilities | (1) | | | (6) | | | |\n| Net cash provided by (used in) operating activities | 1,049 | | | (595) | | | |\n| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | |\n| Purchase of property and equipment | (12) | | | (25) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 6 | | | 55 | | | |\n| Purchase of equity investments | (6) | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Cash impact of deconsolidation of subsidiaries | — | | | (2) | | | |\n| Net cash (used in) provided by investing activities | (12) | | | 28 | | | |\n| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from issuance of convertible senior notes, net of discount | 75 | | | — | | | |\n| Repurchase of convertible senior notes | (1,176) | | | — | | | |\n| | | | | | | | |\n| Settlement of capped calls related to the convertible senior notes | 1 | | | 2 | | | |\n| Proceeds from exercise of stock options | 4 | | | — | | | |\n| Proceeds from issuance of common stock for ESPP | 2 | | | 5 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from PIPE offering | 41 | | | — | | | |\n| Proceeds from the issuance of common stock under at-the-market offering, net | 198 | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Issuance of common stock in connection with the repurchase of convertible notes | 1,184 | | | — | | | |\n| | | | | | | | |\n| Proceeds from non-recourse asset-backed debt | 684 | | | 498 | | | |\n| Principal payments on non-recourse asset-backed debt | (1,489) | | | (715) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Payment of loan origination fees and debt issuance costs | (17) | | | — | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Payment for early extinguishment of debt | (4) | | | — | | | |\n| Other financing activities | (2) | | | — | | | |\n| Net cash used in financing activities | (499) | | | (210) | | | |\n| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 538 | | | (777) | | | |\n| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period | 763 | | | 1,540 | | | |\n| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period | $ | 1,301 | | | $ | 763 | |\n| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $ | 120 | | | $ | 121 | |\n| DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Stock-based compensation expense capitalized for internally developed software | $ | 4 | | | $ | 15 | |\n| Principal value of 2026 Notes extinguished in Debt Exchange | $ | (246) | 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The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. 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We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b54"], "char_count": 966, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4d6022774af95a17dc18d15aa406e015335223e69ab92b2f6d95abe057dab923", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 54, "char_end": 966, "char_start": 0, "fragment_sha256": "62f3140fc23d7d69b87d6eceb6bd6e24d053b85b840902cc4a056be75d3eac42", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s20", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b56"], "char_count": 779, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "eac4f4f9f3c868dc6154b0922413435a9cd47a245adf064369122ad4b7dd0311", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 56, "char_end": 779, "char_start": 0, "fragment_sha256": "c2f676975848a60d5b101075d03f539dd68dedda08f80509577b0a7181ba702e", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows directly associated with a specific resale cohort."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b59", "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b60", "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b61"], "char_count": 262, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1a993c4a3eaa7970ba15341d033a4cefd409e70c50863249d87a2e8864081c79", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 59, "char_end": 49, "char_start": 0, "fragment_sha256": "395a21a03e186ca1839aa8dff22871752c006e55a2788d87e399882e6a8266e1", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 60, "char_end": 11, "char_start": 0, "fragment_sha256": "0417672dc31cc792cda6f9f98c166b641752fa3aa6bc0a5e7f172b28d5519f79", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 61, "char_end": 198, "char_start": 0, "fragment_sha256": "a0f6ae29659d90a33390f82e630c370861c4e68f01a915a1d115010bcea06190", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p29", "passage_kind": "narrative", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s22", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "(In millions, except percentages, and homes sold)\n\n(Unaudited)\n\nThe following table presents a reconciliation of our Adjusted Gross Profit and Contribution Profit to our gross profit, which is the most directly comparable GAAP measure, for the periods indicated:"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b62"], "char_count": 2948, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8e5cf1494ec9111a1f8d1ffb8914508b150f8d954f3d59e3543f2e283576c9b5", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 62, "char_end": 2607, "char_start": 0, "fragment_sha256": "c4ca171e0dc03a5ed0a2da42a9f148342d75fe4725dcbcd182ff46ed601eebaf", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": 7, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p30", "passage_kind": "table", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s22", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b62", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | Year Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages and homes sold, or as noted) | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 4,371 | | | $ | 5,153 | |\n| Gross profit (GAAP) | | $ | 57 | | | $ | 66 | | | $ | 128 | | | $ | 99 | | | $ | 85 | | | $ | 350 | | | $ | 433 | |\n| Gross Margin | | 7.7 | % | | 7.2 | % | | 8.2 | % | | 8.6 | % | | 7.8 | % | | 8.0 | % | | 8.4 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Inventory valuation adjustment – Current Period(1)(2) | | 9 | | | 15 | | | 21 | | | 13 | | | 6 | | | 19 | | | 25 | | | | | | | | |\n| Inventory valuation adjustment – Prior Periods(1)(3) | | (21) | | | (17) | | | (14) | | | (12) | | | (16) | | | (25) | | | (26) | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Adjusted Gross Profit | | $ | 45 | | | $ | 64 | | | $ | 135 | | | $ | 100 | | | $ | 75 | | | $ | 344 | | | $ | 432 | |\n| Adjusted Gross Margin | | 6.1 | % | | 7.0 | % | | 8.6 | % | | 8.7 | % | | 6.9 | % | | 7.9 | % | | 8.4 | % | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Direct selling costs(4) | | (23) | | | (28) | | | (43) | | | (29) | | | (23) | | | (123) | | | (132) | | | | | | | | |\n| Holding costs on sales – Current Period(5)(6) | | (4) | | | (4) | | | (6) | | | (5) | | | (4) | | | (47) | | | (44) | | | | | | | | |\n| Holding costs on sales – Prior Periods(5)(7) | | (11) | | | (12) | | | (17) | | | (12) | | | (10) | | | (24) | | | (14) | | | | | | | | |\n| Contribution Profit | | $ | 7 | | | $ | 20 | | | $ | 69 | | | $ | 54 | | | $ | 38 | | | $ | 150 | | | $ | 242 | |\n| Homes sold in period | | 1,978 | | | 2,568 | | | 4,299 | | | 2,946 | | | 2,822 | | | 11,791 | | | 13,593 | | | | | | | | |\n| Contribution Profit per Home Sold (in thousands) | | $ | 4 | | | $ | 8 | | | $ | 16 | | | $ | 18 | | | $ | 13 | | | $ | 13 | | | $ | 18 | |\n| Contribution Margin | | 1.0 | % | | 2.2 | % | | 4.4 | % | | 4.7 | % | | 3.5 | % | | 3.4 | % | | 4.7 | % | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b63", "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b64"], "char_count": 1260, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d1e5af0518faf274be8b5516e1c8bbb9a3ac69d32638aafe0f1e50a0dcad996", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 63, "char_end": 16, "char_start": 0, "fragment_sha256": "f32497db0e534f3cac2134131e10d08e6e47abcc4f817b11288fab40531d3189", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 64, "char_end": 1242, "char_start": 0, "fragment_sha256": "1f30c2fd6b9d6222e01926943057b605f7900e93504d9c583c9163eee3db3fa4", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s22", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "________________\n\n(1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations on the Condensed Consolidated Statements of Operations. (5)Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the Condensed Consolidated Statements of Operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b66"], "char_count": 1547, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "30e3586e1712e96c1479714394b97d9b879cbd2828d27d768e91ef2ae245842e", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 66, "char_end": 1547, "char_start": 0, "fragment_sha256": "a1a8ccfd071c8de8eda06c6ff64659d7fadb79fec3b42f3c93f08264bb446d21", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s23", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b68"], "char_count": 1276, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f845950056a305f3578f1a1063894a0aad72166ea6407ae752cde2f97de4c475", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 68, "char_end": 1276, "char_start": 0, "fragment_sha256": "99dc2e0fa917e59d29a57f5f68c0de7d2f3d0ff71f5fec5da8549a54ff915f6b", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s24", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, intangibles amortization expense, and the amortization of stock-based compensation capitalized to internally developed software (“IDSW”). It excludes expenses that are not directly related to our revenue-generating operations such as restructuring, legal contingency accruals, and CEO make-whole provision . It also excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b70"], "char_count": 598, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dfcdd3eb3c508d47aa6b0f99c68aa27a5d519764353000222958249f2ccea5c0", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "block_sequence": 70, "char_end": 598, "char_start": 0, "fragment_sha256": "be86067c82d7130ef9ef84b3f3cfd8254f2d781e91fad24e7d514b62fd4b394b", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-02-19", "section_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#s25", "source_artifact_id": "sec:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. The following table presents a reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our net loss, which is the most directly comparable GAAP measure, for the periods indicated:"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b71"], "char_count": 4300, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "47f00e7a99606f7ed7bc5911b246233ad0da09aa72b53da67d01af53bd035341", "derivation_id": "b3532ba9c3819f1c658efd33e17ddf3f8a61d4a384a12aa7150124270628692d", "document_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-02-19", "filing_id": "sec:0001801169:0001801169-26-000009", "flags": ["oversize_table_passage"], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": 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"table_id": "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b71", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | Year Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages) | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | December 31, 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | $ | 1,084 | | | $ | 4,371 | | | $ | 5,153 | |\n| Net loss (GAAP) | | $ | (1,096) | | | $ | (90) | | | $ | (29) | | | $ | (85) | | | $ | (113) | | | $ | (1,300) | | | $ | (392) | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Stock-based compensation | | 16 | | | 13 | | | 13 | | | 14 | | | 23 | | | 56 | | | 114 | | | | | | | | |\n| Stock-based compensation for market condition RSUs | | 89 | | | 14 | | | — | | | — | | | — | | | 103 | | | — | | | | | | | | |\n| Equity securities fair value adjustment(1) | | — | | | — | | | — | | | 3 | | | — | | | 3 | | | 7 | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Intangibles amortization expense(2) | | — | | | — | | | — | | | — | | | — | | | — | | | 4 | | | | | | | | |\n| Amortization of stock-based compensation capitalized to IDSW(3) | | 3 | | | 4 | | | 4 | | | 3 | | | — | | | 14 | | | — | | | | | | | | |\n| Inventory valuation adjustment – Current Period(4)(5) | | 9 | | | 15 | | | 21 | | | 13 | | | 6 | | | 19 | | | 25 | | | | | | | | |\n| Inventory valuation adjustment — Prior Periods(4)(6) | | (21) | | | (17) | | | (14) | | | (12) | | | (16) | | | (25) | | | (26) | | | | | | | | |\n| Restructuring(7) | | — | | | 1 | | | 6 | | | 3 | | | 17 | | | 10 | | | 17 | | | | | | | | |\n| CEO make-whole provision(8) | | 5 | | | — | | | — | | | — | | | — | | | 5 | | | — | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Loss (gain) on extinguishment of debt | | 933 | | | 1 | | | (10) | | | — | | | 1 | | | 924 | | | 2 | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Legal contingency accrual and related expenses | | — | | | — | | | — | | | — | | | 5 | | | — | | | 5 | | | | | | | | |\n| Other(9) | | — | | | (2) | | | — | | | (2) | | | — | | | (4) | | | (14) | | | | | | | | |\n| Adjusted Net Loss | | $ | (62) | | | $ | (61) | | | $ | (9) | | | $ | (63) | | | $ | (77) | | | $ | (195) | | | $ | (258) | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Depreciation and amortization, excluding amortization of intangibles | | 5 | | | 5 | | | 5 | | | 5 | | | 7 | | | 20 | | | 35 | | | | | | | | |\n| Property financing(10) | | 21 | | | 23 | | | 29 | | | 29 | | | 28 | | | 102 | | | 116 | | | | | | | | |\n| Other interest expense(11) | | 7 | | | 11 | | | 7 | | | 4 | | | 4 | | | 29 | | | 17 | | | | | | | | |\n| Interest income(12) | | (13) | | | (12) | | | (9) | | | (5) | | | (11) | | | (39) | | | (53) | | | | | | | | |\n| Income tax expense | | (1) | | | 1 | | | — | | | — | | | — | | | — | | | 1 | | | | | | | | |\n| Adjusted EBITDA | | $ | (43) | | | $ | (33) | | | $ | 23 | | | $ | (30) | | | $ | (49) | | | $ | (83) | | | $ | (142) | |\n| Adjusted EBITDA Margin | | (5.8) | % | | (3.6) | % | | 1.5 | % | | (2.6) | % | | (4.5) | % | | (1.9) | % | | (2.8) | % | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b72", "norm:0001801169:0001801169-26-000009:q42025formxex991earningsre.htm#b73"], "char_count": 3084, "cik10": "0001801169", "company_name": "Opendoor Technologies 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"https://www.sec.gov/Archives/edgar/data/1801169/000180116926000009/q42025formxex991earningsre.htm", "table_id": null, "text": "________________\n\n(1)Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2)Represents amortization of acquisition-related intangible assets. The acquired intangible assets had useful lives ranging from 1 to 5 years and amortization was incurred until the intangible assets were fully amortized in 2024. (3)Beginning in the quarter ended March 31, 2025, the Company revised the presentation of the amortization of stock-based compensation capitalized to IDSW to more appropriately present the full impact of all stock-based compensation expenses. This expense was previously included in “Depreciation and amortization, excluding amortization of intangibles.” Had this presentation been applied for the three months ended December 31, 2024, Adjusted Net Loss would have improved by $3 million with no impact to Adjusted EBITDA. (4)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (5)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (6)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (7)Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees’ roles, consulting fees and expenses related to the termination of certain leases incurred during the restructuring process. (8)In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (9)Primarily includes gain on deconsolidation, net, and related party services income. (10)Includes interest expense on our non-recourse asset-backed debt facilities. (11)Includes (i) amortization of debt issuance costs, loan origination fees, commitment fees, unused fees, and other interest-related costs on our asset-backed debt facilities, and (ii) amortization of debt issuance costs and debt discounts and interest expense related to our convertible senior notes. (12)Consists mainly of interest earned on cash, cash equivalents, restricted cash and marketable securities."} diff --git a/data/normalized/sec/0001801169/8-K/2026-05-07_0001801169-26-000013/norm_0001801169_0001801169-26-000013_exhibit992-q12026form8xk.htm.json b/data/normalized/sec/0001801169/8-K/2026-05-07_0001801169-26-000013/norm_0001801169_0001801169-26-000013_exhibit992-q12026form8xk.htm.json new file mode 100644 index 0000000000000000000000000000000000000000..a3f2d6021286ea999d63881b91a9ba18561d09c6 --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2026-05-07_0001801169-26-000013/norm_0001801169_0001801169-26-000013_exhibit992-q12026form8xk.htm.json @@ -0,0 +1,808 @@ +{ + "acceptance_datetime": "2026-05-07T16:14:36.000Z", + "amends_accession": null, + "artifact_role": "ex99-02", + "blocks": [ + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b0", + "block_sequence": 0, + "block_sha256": 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"EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company\u2019s financial results, these supplemental tables include references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company\u2019s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company\u2019s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company\u2019s performance by excluding certain items that may not be indicative of the Company\u2019s recurring operating results. Adjusted Gross Profit and Contribution Profit To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor\u2019s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort. Contribution Profit / Margin We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess the revenues and certain costs directly attributable to a specific resale cohort. Adjusted Net Loss and Adjusted EBITDA / Margin We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss. 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It excludes expenses that are not directly related to our revenue generating operations such as restructuring, and CEO make-whole provision. It excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses or gains are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Operating Expense We also present Adjusted Operating Expense, which is a non-GAAP financial measure that bridges the difference between Contribution Profit and Adjusted EBITDA. We believe this measure provides investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to Contribution Profit and certain charges that are non-cash, or not directly related to our revenue-generating operations are removed. Adjusted Operating Expense is a supplemental measure of our operating expenditures and has important limitations. For example, this measure excludes the impact of certain costs required to be recorded under GAAP. This measure removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. This measure could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, this measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of this measure to the most directly comparable GAAP financial measure, which is operating expenses. We calculate Adjusted Operating Expense as GAAP operating expense adjusted to exclude direct selling costs and holding costs included in determining Contribution Profit. The measure also excludes non-cash expenses of stock-based compensation, depreciation and amortization and the amortization of stock-based compensation capitalized to IDSW. It also excludes expenses that are not directly related to our revenue-generating operations such as restructuring charges, legal contingency accruals, and CEO make-whole provision. Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, Adjusted Technology and Development We also present Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development, which are non-GAAP financial measures that provide investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to contribution profit and certain charges that are non-cash are removed. These supplemental measures of our operating expenditures have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. Specifically, Adjusted Sales, Marketing and Operations removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. These measures could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which are Sales, marketing and operations expense, General and administrative expense and Technology and development expense. We calculate Adjusted Sales, Marketing and Operations as GAAP sales, marketing and operations expenses to exclude direct selling costs and holding costs included in determining Contribution Profit. This measure also excludes non-cash expenses of stock-based compensation associated with sales, marketing and operations assets. We calculate Adjusted General and Administrative as GAAP general and administrative expenses to exclude non-cash expenses of stock-based compensation associated with general and administrative assets. It also excludes expenses that are not directly related to our revenue-generating operations such as legal contingency accruals and CEO make-whole provision. We calculate Adjusted Technology and Development as GAAP technology and development expenses to exclude non-cash expenses of stock-based compensation, the amortization of stock-based compensation capitalized to IDSW, and depreciation and amortization associated with technology and development assets." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b9", + "block_sequence": 9, + "block_sha256": "85919bc8b2b3a96d8575f3694aa2dbfcb5fd6c27195946804c4628c1dc32ea46", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 9, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "58df5208dd231b110d500c95aa2b0d26650661caeeb24a625305df2d7cbd4a0f", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk003.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b10", + "block_sequence": 10, + "block_sha256": "7d8bf100d7a4fa2b41909dff04ea7a2fffe9f0feaa746ffda6771ec8965d2438", + "block_type": "paragraph", + "char_count": 1349, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 10, + "char_end": 1349, + "char_start": 0, + "fragment_sha256": "0d048000daf65d006fc002dde7c29cf0a3065f8ca9e9365a6ab613d69504dbda", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP MEASURES & KEY METRICS (Unaudited) Period Ended ($ in millions, except homes purchased, homes sold, homes in inventory, and margins) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Key Metrics Total Revenue $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Gross profit $ 72 $ 57 $ 66 $ 128 $ 99 Net loss $ (173) $ (1,096) $ (90) $ (29) $ (85) Inventory (at period end) $ 1,139 $ 925 $ 1,053 $ 1,530 $ 2,362 Non-GAAP Financial Measures Adjusted Gross Profit $ 67 $ 45 $ 64 $ 135 $ 100 Selling Costs (23) (23) (28) (43) (29) Holding Costs (12) (15) (16) (23) (17) Contribution Profit $ 32 $ 7 $ 20 $ 69 $ 54 Adjusted EBITDA $ (31) $ (43) $ (33) $ 23 $ (30) Adjusted Net Loss $ (49) $ (62) $ (61) $ (9) $ (63) Margins Total Revenue 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Gross profit 10.0 % 7.7 % 7.2 % 8.2 % 8.6 % Adjusted Gross Profit 9.3 % 6.1 % 7.0 % 8.6 % 8.7 % Contribution Profit 4.4 % 1.0 % 2.2 % 4.4 % 4.7 % Net loss (24.0) % (148.9) % (9.8) % (1.9) % (7.4) % Adjusted EBITDA (4.3) % (5.8) % (3.6) % 1.5 % (2.6) % Adjusted Net Loss (6.8) % (8.4) % (6.7) % (0.6) % (5.5) % Inventory Rollforward Homes in Inventory (at beginning of period) 2,867 3,139 4,538 7,080 6,417 Homes Purchased 2,474 1,706 1,169 1,757 3,609 Homes Sold (1,921) (1,978) (2,568) (4,299) (2,946) Homes in Inventory (at period end) 3,420 2,867 3,139 4,538 7,080" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b11", + "block_sequence": 11, + "block_sha256": "ec9c7471e9a39b471e317e31b21780a74d68bf6a2c58da60f56584b59a649576", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 11, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "5f59e42933adef8326fb453ea5b5e3654c480f6e033942fd36445651b534d42a", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk004.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b12", + "block_sequence": 12, + "block_sha256": "1d3abd62d730773fb889ffda2bfa64305866db0d803c0103b190bfd8507d879f", + "block_type": "paragraph", + "char_count": 859, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 12, + "char_end": 859, + "char_start": 0, + "fragment_sha256": "d92b96a1b1ee9d1d989a988d64928071cde1b41caac09606e872f68b0fceba47", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are presented in thousands, and per share amounts) (Unaudited) Three Months Ended March 31, 2026 2025 REVENUE $ 720 $ 1,153 COST OF REVENUE 648 1,054 GROSS PROFIT 72 99 OPERATING EXPENSES: Sales, marketing and operations 70 98 General and administrative 137 33 Technology and development 24 21 Restructuring \u2014 3 Total operating expenses 231 155 LOSS FROM OPERATIONS (159) (56) (LOSS) GAIN ON EXTINGUISHMENT OF DEBT (1) \u2014 INTEREST EXPENSE (23) (33) OTHER INCOME \u2013 Net 10 4 LOSS BEFORE INCOME TAXES (173) (85) INCOME TAX EXPENSE \u2014 \u2014 NET LOSS $ (173) $ (85) Net loss per share attributable to common shareholders: Basic $ (0.18) $ (0.12) Diluted $ (0.18) $ (0.12) Weighted-average shares outstanding: Basic 959,332 723,542 Diluted 959,332 723,542" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b13", + "block_sequence": 13, + "block_sha256": "3e99d3bfa8575f0ca01f687614cd6159dc2420afa6f63d35a3fc9771622d631e", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 13, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "580ff6cc9a48e24c012222c9ea3348006d2b9404d20acfe185b63d5004e48995", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk005.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b14", + "block_sequence": 14, + "block_sha256": "f9af7bdbb13622f14ad6aa948f855875674789a4fd8e9faf1b13c3a44742cc37", + "block_type": "paragraph", + "char_count": 1405, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 14, + "char_end": 1405, + "char_start": 0, + "fragment_sha256": "2898fe71dbf5e241e44c0fe9d1a39f2f8d7499ffaff2c7831f16cb4f505866e7", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except share data) (Unaudited) March 31, 2026 December 31, 2025 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 999 $ 962 Restricted cash 68 339 Escrow receivable 10 4 Real estate inventory, net 1,139 925 Other current assets ($1 and $0 carried at fair value) 26 69 Total current assets 2,242 2,299 PROPERTY AND EQUIPMENT \u2013 Net 25 27 RIGHT OF USE ASSETS 8 8 GOODWILL 3 3 OTHER ASSETS 71 70 TOTAL ASSETS $ 2,349 $ 2,407 LIABILITIES AND SHAREHOLDERS\u2019 EQUITY CURRENT LIABILITIES: Accounts payable and other accrued liabilities $ 53 $ 80 Non-recourse asset-backed debt \u2013 current portion 68 52 Convertible senior notes \u2013 current portion 193 193 Interest payable 2 1 Lease liabilities \u2013 current portion 1 1 Total current liabilities 317 327 NON-RECOURSE ASSET-BACKED DEBT \u2013 Net of current portion 1,070 1,068 LEASE LIABILITIES \u2013 Net of current portion 6 6 OTHER LIABILITIES 2 1 Total liabilities 1,395 1,402 SHAREHOLDERS\u2019 EQUITY: Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 963,283,777 and 957,245,487 shares issued, respectively; 963,283,777 and 957,245,487 shares outstanding, respectively \u2014 \u2014 Additional paid-in capital 6,160 6,038 Accumulated deficit (5,206) (5,033) Accumulated other comprehensive loss \u2014 \u2014 Total shareholders\u2019 equity 954 1,005 TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY $ 2,349 $ 2,407" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b15", + "block_sequence": 15, + "block_sha256": "97280c93cde9817825bf1b1c25f77d8b3059c5721eebb0562fabfc7846c735e3", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 15, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "5cbc16d393a4a59c645576e5a8f09e89d6db20680f2857d9b8945c3527ec8599", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk006.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b16", + "block_sequence": 16, + "block_sha256": "386f0eb3be8f234a09143b84ada5a14a26fecc0f3900e54b1b4b342e922e1364", + "block_type": "paragraph", + "char_count": 2060, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 16, + "char_end": 2060, + "char_start": 0, + "fragment_sha256": "d595a82548b93cc8701317d9bab0183869cb4f64dc77bbabd6a36afb4b8d64d3", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Three Months Ended March 31, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (173) $ (85) Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash used in operating activities: Depreciation and amortization 8 10 Amortization of right of use asset \u2014 1 Stock-based compensation 120 14 Inventory valuation adjustment 9 13 Change in fair value of equity securities \u2014 3 Other 3 \u2014 Origination of mortgage loans held for sale (1) \u2014 Loss on extinguishment of debt 1 \u2014 Changes in operating assets and liabilities: Escrow receivable (6) (14) Real estate inventory (221) (212) Other assets 42 (16) Accounts payable and other accrued liabilities (29) 8 Interest payable 1 \u2014 Lease liabilities \u2014 (1) Net cash used in operating activities (246) (279) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (4) (4) Proceeds from sales, maturities, redemptions and paydowns of marketable securities \u2014 6 Net cash (used in) provided by investing activities (4) 2 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock for ESPP 1 1 Proceeds from non-recourse asset-backed debt 68 576 Principal payments on non-recourse asset-backed debt (53) (362) Payment of loan origination fees and debt issuance costs \u2014 (8) Net cash provided by financing activities 16 207 NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (234) (70) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH \u2013 Beginning of period 1,301 763 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH \u2013 End of period $ 1,067 $ 693 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION \u2013 Cash paid during the period for interest $ 20 $ 31 DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: Stock-based compensation expense capitalized for internally developed software $ 1 $ 1 RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 999 $ 559 Restricted cash 68 134 Cash, cash equivalents, and restricted cash $ 1,067 $ 693" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b17", + "block_sequence": 17, + "block_sha256": "56d79b0eae7f8b91d2a7c5eb87a81655c3be2137e3414a688e22000c3a989406", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 17, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "185324be6df3676f5ab2e43a11d1fe42f53190fd67819c359e0b70eeffb46785", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk007.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b18", + "block_sequence": 18, + "block_sha256": "70e7bb50a0dbb685db08144d3c0c83e90c9f8c079d286da76725e7f0d985707c", + "block_type": "paragraph", + "char_count": 2393, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 18, + "char_end": 2393, + "char_start": 0, + "fragment_sha256": "f0bd0e3d4408225a8e3501ff0ae6a7a8b42e9c6afef444b13548aae3d3b60880", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Gross Profit and Contribution Profit to our Gross Profit Three Months Ended (in millions, except percentages and homes sold, or as noted) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Revenue (GAAP) $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Gross profit (GAAP) $ 72 $ 57 $ 66 $ 128 $ 99 Gross Margin 10.0 % 7.7 % 7.2 % 8.2 % 8.6 % Adjustments: Inventory valuation adjustment \u2013 Current Period (1)(2) 9 9 15 21 13 Inventory valuation adjustment \u2013 Prior Periods (1)(3) (14) (21) (17) (14) (12) Adjusted Gross Profit $ 67 $ 45 $ 64 $ 135 $ 100 Adjusted Gross Margin 9.3 % 6.1 % 7.0 % 8.6 % 8.7 % Adjustments: Direct selling costs (4) (23) (23) (28) (43) (29) Holding costs on sales \u2013 Current Period (5)(6) (3) (4) (4) (6) (5) Holding costs on sales \u2013 Prior Periods (5)(7) (9) (11) (12) (17) (12) Contribution Profit $ 32 $ 7 $ 20 $ 69 $ 54 Homes sold in period 1,921 1,978 2,568 4,299 2,946 Contribution Profit per Home Sold (in thousands) $ 17 $ 4 $ 8 $ 16 $ 18 Contribution Margin 4.4 % 1.0 % 2.2 % 4.4 % 4.7 % (1) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2) Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3) Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the condensed consolidated statements of operations. (5) Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the condensed consolidated statements of operations. (6) Represents holding costs incurred in the period presented on homes sold in the period presented. (7) Represents holding costs incurred in prior periods on homes sold in the period presented." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b19", + "block_sequence": 19, + "block_sha256": "a082f912807b1553715da0791a4b86900d561567d205aada962f3453c6c54ed4", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 19, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ba5b66e5a325d58511fab8e3e8db7dbda93cbd691c036aae9d7a1b02e4483d73", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk008.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b20", + "block_sequence": 20, + "block_sha256": "e6f3a5e7728df209f309e96e19caed1c26c6b4f9f9d3cdafe53ac8500da85c58", + "block_type": "paragraph", + "char_count": 3579, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 20, + "char_end": 3579, + "char_start": 0, + "fragment_sha256": "0665f09f9256fe833898be6b7af39f6e8a96c5b0f881c5b4d62d120299103755", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our Net Loss Three Months Ended (in millions, except percentages) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Revenue (GAAP) $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Net loss (GAAP) $ (173) $ (1,096) $ (90) $ (29) $ (85) Adjustments: Stock-based compensation 15 16 13 13 14 Stock-based compensation for market condition RSUs 105 89 14 \u2014 \u2014 Equity securities fair value adjustment(1) \u2014 \u2014 \u2014 \u2014 3 Amortization of stock-based compensation capitalized to IDSW 3 3 4 4 3 Inventory valuation adjustment \u2013 Current Period(2)(3) 9 9 15 21 13 Inventory valuation adjustment \u2014 Prior Periods(2)(4) (14) (21) (17) (14) (12) Restructuring(5) \u2014 \u2014 1 6 3 CEO make-whole provision(6) 5 5 \u2014 \u2014 \u2014 Loss (gain) on extinguishment of debt 1 933 1 (10) \u2014 Other(7) \u2014 \u2014 (2) \u2014 (2) Adjusted Net Loss $ (49) $ (62) $ (61) $ (9) $ (63) Adjustments: Depreciation and amortization, excluding amortization of intangibles 5 5 5 5 5 Property financing(8) 19 21 23 29 29 Other interest expense(9) 4 7 11 7 4 Interest income(10) (10) (13) (12) (9) (5) Income tax expense \u2014 (1) 1 \u2014 \u2014 Adjusted EBITDA $ (31) $ (43) $ (33) $ 23 $ (30) Adjusted EBITDA Margin (4.3) % (5.8) % (3.6) % 1.5 % (2.6) % (1) Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (3) Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (4) Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (5) Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees\u2019 roles, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Primarily includes and related party services income. (8) Includes interest expense on our non-recourse asset-backed debt facilities. (9) Includes (i) amortization of debt issuance costs, loan origination fees, commitment fees, unused fees, and other interest-related costs on our asset-backed debt facilities, and (ii) amortization of debt issuance costs and debt discounts and interest expense related to our convertible senior notes. (10) Consists mainly of interest earned on cash, cash equivalents and restricted cash." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b21", + "block_sequence": 21, + "block_sha256": "5bc074ab35296f9d61d8fdc8efaab12f2a09275fea4883885d217346accd0f46", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 21, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "b3917fda89a07f1f0321e3a6eacfe2b469161ec77e791a34c46b4c301d5b1bda", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk009.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b22", + "block_sequence": 22, + "block_sha256": "dc4f5ab2474ad72c7815459d0be8f28d79639756d6f057f851549e71e6f8a765", + "block_type": "paragraph", + "char_count": 2732, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 22, + "char_end": 2732, + "char_start": 0, + "fragment_sha256": "fd240395c0b9621640623ee16cbfc778600c51def83f165e596bcccac2e31bc4", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Operating Expenses to our Operating Expenses Three Months Ended (in millions, except percentages) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 OPERATING EXPENSES: Sales, marketing and operations 70 60 66 86 98 General and administrative 137 129 48 28 33 Technology and development 24 18 19 21 21 Restructuring \u2014 \u2014 1 6 3 Total Operating Expenses (GAAP) $ 231 $ 207 $ 134 $ 141 $ 155 Operating Expenses (GAAP) $ 231 $ 207 $ 134 $ 141 $ 155 Adjustments: Direct Selling Costs(1) (23) (23) (28) (43) (29) Holding costs included in contribution profit(2) (12) (15) (16) (23) (17) Stock-based compensation (15) (16) (13) (13) (14) Stock-based compensation for market condition RSUs (105) (89) (14) \u2014 \u2014 Amortization of stock-based compensation capitalized IDSW (3) (3) (4) (4) (3) Restructuring \u2014 \u2014 (1) (6) (3) CEO make-whole provision(3) (5) (5) \u2014 \u2014 \u2014 Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (5) Other \u2014 (1) \u2014 (1) \u2014 Total Adjusted Operating Expenses (Non-GAAP) $ 63 $ 50 $ 53 $ 46 $ 84 (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations. (2) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing and operations on the condensed consolidated statements of operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (3) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. 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NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Sales, Marketing and Operatiions; Adjusted General and Administrative; and Adjusted Technology and Developement Expenses to Their Corresponding GAAP Measures Three Months Ended (in millions) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Sales, marketing and operations (GAAP)(1) $ 70 $ 60 $ 66 $ 86 $ 98 Direct Selling Costs(2) (23) (23) (28) (43) (29) Holding costs included in contribution profit(3)(4) (12) (15) (16) (23) (17) Stock-based compensation (1) (1) (2) (2) (2) Stock-based compensation for market condition RSUs (1) \u2014 \u2014 \u2014 \u2014 Adjusted Sales, Marketing and Operations (Non- GAAP)(5) $ 33 $ 21 $ 20 $ 18 $ 50 General and administrative (GAAP) $ 137 $ 129 $ 48 $ 28 $ 33 Stock-based compensation (10) (12) (9) (9) (9) Stock-based compensation for market condition RSUs (100) (89) (14) \u2014 \u2014 CEO make-whole provision(6) (5) (5) \u2014 \u2014 \u2014 Other \u2014 1 \u2014 \u2014 \u2014 Adjusted General and Administrative (Non-GAAP)(5) $ 22 $ 24 $ 25 $ 19 $ 24 Technology and development (GAAP) $ 24 $ 18 $ 19 $ 21 $ 21 Stock-based compensation (4) (3) (2) (2) (3) Stock-based compensation for market condition RSUs (4) \u2014 \u2014 \u2014 \u2014 Amortization of stock-based compensation capitalized to IDSW (3) (3) (4) (4) (3) Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (5) Other \u2014 (2) \u2014 (1) \u2014 Adjusted Technology and Development (Non-GAAP)(5) $ 8 $ 5 $ 8 $ 9 $ 10 Note: Advertising expenses(1) $ 19 $ 9 $ 7 $ 7 $ 24 (1) Advertising expenses are included in Sales, marketing and operations. (2) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (3) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the condensed consolidated statements of operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (4) The table below presents the timing difference within Adjusted Sales, marketing and operations related to holding costs. The amount of GAAP Holding Costs recognized during the period may be in excess of/ (less than) the amount of Resale Cohort Holding costs related to homes sold in the relevant period and included in Contribution Profit. Three Months Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Total GAAP Holding Costs $ 11 $ 10 $ 12 $ 16 $ 21 Holding costs on sales - Current Period (3) (4) (4) (6) (5) Holding costs on sales - Prior Periods (9) (11) (12) (17) (12) Less: Resale Cohort Holding Costs (12) (15) (16) (23) (17) GAAP Holding Costs in excess of / (less than) Resale Holding Costs included in Contribution Profit $ (1) $ (5) $ (4) $ (7) $ 4" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b25", + "block_sequence": 25, + "block_sha256": "fc88356ed4898acb0d7bd7de53a8c87c8a49295bce8b7211344e22b7d19dace9", + "block_type": "page_number", + "char_count": 31, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 25, + "char_end": 31, + "char_start": 0, + "fragment_sha256": "ca55725bffc01682969532b998e9cc6cec733e3380a4e81b3fb398c81121ca0d", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "exhibit992-q12026form8xk011.jpg" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b26", + "block_sequence": 26, + "block_sha256": "27ea3e456a203219c0fc23cadab1aea16e237e0950b101d97cfdc68513020baa", + "block_type": "paragraph", + "char_count": 1110, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", + "block_sequence": 26, + "char_end": 1110, + "char_start": 0, + "fragment_sha256": "0e84995d376377eeaa458285946b6734e678015dd824773b0afde508efd5a03c", + "heading_path": [ + "EX-99.2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", + "table": null, + "text": "(5) The sum of Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development expenses is equal to Total Adjusted Operated Expenses (Non-GAAP). Refer to the \"Reconciliation of our Adjusted Operating Expenses to our Operating Expenses\" table. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. 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SEGMENT INFORMATION (Unaudited) Three Months Ended (in millions) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Revenue $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Less: Cost of revenue (648) (679) (849) (1,439) (1,054) Direct selling costs(1) (23) (23) (28) (43) (29) Holding costs(2) (12) (15) (16) (23) (17) Advertising and other marketing expense(3) (19) (9) (7) (7) (24) Operations(4) (12) (13) (12) (15) (16) Fixed operating expense(5) (33) (35) (37) (31) (39) CEO make-whole provision(6) (5) (5) \u2014 \u2014 \u2014 Stock-based compensation (15) (16) (13) (13) (14) Stock-based compensation for market condition RSUs (105) (89) (14) \u2014 \u2014 Interest expense (23) (28) (34) (36) (33) Interest income 10 13 12 9 5 Other(7) (8) (933) (7) 2 (17) Net loss $ (173) $ (1,096) $ (90) $ (29) $ (85) (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (2) Represents holding costs incurred both in the period presented and in prior periods on homes sold in the period presented (\u201cResale Cohort Holding Costs\u201d). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations in the period in which they are incurred (\u201cGAAP Holding Costs\u201d). (3) Advertising expenses are included in Sales, marketing and operations. Other marketing expenses include non-advertising marketing expenses such as acquisition leads and referrals and public relations services and are included in Sales, marketing and operations. (4) Represents operating expenses that are generally related to the volume of homes transacted during the period and tend to be variable in nature. Primarily includes workforce expenses in support of sales, and real estate inventory operations. (5) Represents operating expenses that are not directly correlated with home transaction volumes. These expenses generally include costs related to salaries and benefits for our leadership, finance, technology, human resources, legal, marketing and administrative personnel, as well as third-party professional services fees, rent expense and third-party software. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Other segment income (expenses) are primarily made up of depreciation and amortization, gain on deconsolidation, net, restructuring, and amortization of stock-based compensation capitalized to internally developed software. 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"passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "Document generated by Workiva Inc exhibit992-q12026form8xk"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b6"], "char_count": 3920, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9d3e9daf5268a845c053591bb7266bdfefa663a8a4e68fe6967e866f6f36ff32", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 6, "char_end": 3920, "char_start": 0, "fragment_sha256": "b790c5a3b812d7a08d31b6e7f21bda15274f620fdfb8e6fb38f3f289312067ee", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company’s financial results, these supplemental tables include references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results. Adjusted Gross Profit and Contribution Profit To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b6"], "char_count": 2556, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dc4dd755369f3df203895a02349dfda644d677c92320e25b45e4895898224e45", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 6, "char_end": 6476, "char_start": 3920, "fragment_sha256": "b790c5a3b812d7a08d31b6e7f21bda15274f620fdfb8e6fb38f3f289312067ee", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort. Contribution Profit / Margin We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess the revenues and certain costs directly attributable to a specific resale cohort. Adjusted Net Loss and Adjusted EBITDA / Margin We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss. Exhibit 99.2"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b8"], "char_count": 3502, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8973f081fcd79c40c6ea56aca63fb74f1a0e96eb69af9235558327eec360e347", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 8, "char_end": 3502, "char_start": 0, "fragment_sha256": "f309306238936384570f9645ec5daa479ccd9fbc09e597e7e310bea7e6adf3f2", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, and the amortization of stock-based compensation capitalized to internally developed software (\"IDSW\"). It excludes expenses that are not directly related to our revenue generating operations such as restructuring, and CEO make-whole provision. It excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses or gains are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date. We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Operating Expense We also present Adjusted Operating Expense, which is a non-GAAP financial measure that bridges the difference between Contribution Profit and Adjusted EBITDA. We believe this measure provides investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to Contribution Profit and certain charges that are non-cash, or not directly related to our revenue-generating operations are removed. Adjusted Operating Expense is a supplemental measure of our operating expenditures and has important limitations. For example, this measure excludes the impact of certain costs required to be recorded under GAAP. This measure removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. This measure could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, this measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of this measure to the most directly comparable GAAP financial measure, which is operating expenses. We calculate Adjusted Operating Expense as GAAP operating expense adjusted to exclude direct selling costs and holding costs included in determining Contribution Profit. The measure also excludes non-cash expenses of stock-based compensation, depreciation and amortization and the amortization of stock-based compensation capitalized to IDSW. It also excludes expenses that are not directly related to our revenue-generating operations such as restructuring charges, legal contingency accruals, and CEO make-whole provision."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b8"], "char_count": 2474, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e1705620b701d17909cdf12a859e1d614909cab5e0a8879cc6a37f5625b3c85c", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 8, "char_end": 5976, "char_start": 3502, "fragment_sha256": "f309306238936384570f9645ec5daa479ccd9fbc09e597e7e310bea7e6adf3f2", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, Adjusted Technology and Development We also present Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development, which are non-GAAP financial measures that provide investors and analysts meaningful period over period comparisons by showing the remaining operating expenses after the costs related to unit level performance are moved to contribution profit and certain charges that are non-cash are removed. These supplemental measures of our operating expenditures have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. Specifically, Adjusted Sales, Marketing and Operations removes holding costs and direct selling costs incurred on homes sold during the current period, including holding costs recorded in prior periods, and moves these costs to Contribution Margin. These measures could differ substantially from similarly titled measures presented by other companies in our industry or in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which are Sales, marketing and operations expense, General and administrative expense and Technology and development expense. We calculate Adjusted Sales, Marketing and Operations as GAAP sales, marketing and operations expenses to exclude direct selling costs and holding costs included in determining Contribution Profit. This measure also excludes non-cash expenses of stock-based compensation associated with sales, marketing and operations assets. We calculate Adjusted General and Administrative as GAAP general and administrative expenses to exclude non-cash expenses of stock-based compensation associated with general and administrative assets. It also excludes expenses that are not directly related to our revenue-generating operations such as legal contingency accruals and CEO make-whole provision. We calculate Adjusted Technology and Development as GAAP technology and development expenses to exclude non-cash expenses of stock-based compensation, the amortization of stock-based compensation capitalized to IDSW, and depreciation and amortization associated with technology and development assets."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b10", "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b12"], "char_count": 2210, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1f90ad86758acdbf937241fb082211af7fc6aadfd105ef2a397269b73cf3c699", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 10, "char_end": 1349, "char_start": 0, "fragment_sha256": "0d048000daf65d006fc002dde7c29cf0a3065f8ca9e9365a6ab613d69504dbda", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 12, "char_end": 859, "char_start": 0, "fragment_sha256": "d92b96a1b1ee9d1d989a988d64928071cde1b41caac09606e872f68b0fceba47", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP MEASURES & KEY METRICS (Unaudited) Period Ended ($ in millions, except homes purchased, homes sold, homes in inventory, and margins) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Key Metrics Total Revenue $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Gross profit $ 72 $ 57 $ 66 $ 128 $ 99 Net loss $ (173) $ (1,096) $ (90) $ (29) $ (85) Inventory (at period end) $ 1,139 $ 925 $ 1,053 $ 1,530 $ 2,362 Non-GAAP Financial Measures Adjusted Gross Profit $ 67 $ 45 $ 64 $ 135 $ 100 Selling Costs (23) (23) (28) (43) (29) Holding Costs (12) (15) (16) (23) (17) Contribution Profit $ 32 $ 7 $ 20 $ 69 $ 54 Adjusted EBITDA $ (31) $ (43) $ (33) $ 23 $ (30) Adjusted Net Loss $ (49) $ (62) $ (61) $ (9) $ (63) Margins Total Revenue 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Gross profit 10.0 % 7.7 % 7.2 % 8.2 % 8.6 % Adjusted Gross Profit 9.3 % 6.1 % 7.0 % 8.6 % 8.7 % Contribution Profit 4.4 % 1.0 % 2.2 % 4.4 % 4.7 % Net loss (24.0) % (148.9) % (9.8) % (1.9) % (7.4) % Adjusted EBITDA (4.3) % (5.8) % (3.6) % 1.5 % (2.6) % Adjusted Net Loss (6.8) % (8.4) % (6.7) % (0.6) % (5.5) % Inventory Rollforward Homes in Inventory (at beginning of period) 2,867 3,139 4,538 7,080 6,417 Homes Purchased 2,474 1,706 1,169 1,757 3,609 Homes Sold (1,921) (1,978) (2,568) (4,299) (2,946) Homes in Inventory (at period end) 3,420 2,867 3,139 4,538 7,080\n\nOPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are presented in thousands, and per share amounts) (Unaudited) Three Months Ended March 31, 2026 2025 REVENUE $ 720 $ 1,153 COST OF REVENUE 648 1,054 GROSS PROFIT 72 99 OPERATING EXPENSES: Sales, marketing and operations 70 98 General and administrative 137 33 Technology and development 24 21 Restructuring — 3 Total operating expenses 231 155 LOSS FROM OPERATIONS (159) (56) (LOSS) GAIN ON EXTINGUISHMENT OF DEBT (1) — INTEREST EXPENSE (23) (33) OTHER INCOME – Net 10 4 LOSS BEFORE INCOME TAXES (173) (85) INCOME TAX EXPENSE — — NET LOSS $ (173) $ (85) Net loss per share attributable to common shareholders: Basic $ (0.18) $ (0.12) Diluted $ (0.18) $ (0.12) Weighted-average shares outstanding: Basic 959,332 723,542 Diluted 959,332 723,542"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b14", "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b16"], "char_count": 3467, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c14953bf8c81f598a91ba0f1fcdcf2db44624dbcf9150d6f9abcd93a5fbdfee5", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 14, "char_end": 1405, "char_start": 0, "fragment_sha256": "2898fe71dbf5e241e44c0fe9d1a39f2f8d7499ffaff2c7831f16cb4f505866e7", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 16, "char_end": 2060, "char_start": 0, "fragment_sha256": "d595a82548b93cc8701317d9bab0183869cb4f64dc77bbabd6a36afb4b8d64d3", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except share data) (Unaudited) March 31, 2026 December 31, 2025 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 999 $ 962 Restricted cash 68 339 Escrow receivable 10 4 Real estate inventory, net 1,139 925 Other current assets ($1 and $0 carried at fair value) 26 69 Total current assets 2,242 2,299 PROPERTY AND EQUIPMENT – Net 25 27 RIGHT OF USE ASSETS 8 8 GOODWILL 3 3 OTHER ASSETS 71 70 TOTAL ASSETS $ 2,349 $ 2,407 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable and other accrued liabilities $ 53 $ 80 Non-recourse asset-backed debt – current portion 68 52 Convertible senior notes – current portion 193 193 Interest payable 2 1 Lease liabilities – current portion 1 1 Total current liabilities 317 327 NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 1,070 1,068 LEASE LIABILITIES – Net of current portion 6 6 OTHER LIABILITIES 2 1 Total liabilities 1,395 1,402 SHAREHOLDERS’ EQUITY: Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 963,283,777 and 957,245,487 shares issued, respectively; 963,283,777 and 957,245,487 shares outstanding, respectively — — Additional paid-in capital 6,160 6,038 Accumulated deficit (5,206) (5,033) Accumulated other comprehensive loss — — Total shareholders’ equity 954 1,005 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,349 $ 2,407\n\nOPENDOOR TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Three Months Ended March 31, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (173) $ (85) Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash used in operating activities: Depreciation and amortization 8 10 Amortization of right of use asset — 1 Stock-based compensation 120 14 Inventory valuation adjustment 9 13 Change in fair value of equity securities — 3 Other 3 — Origination of mortgage loans held for sale (1) — Loss on extinguishment of debt 1 — Changes in operating assets and liabilities: Escrow receivable (6) (14) Real estate inventory (221) (212) Other assets 42 (16) Accounts payable and other accrued liabilities (29) 8 Interest payable 1 — Lease liabilities — (1) Net cash used in operating activities (246) (279) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (4) (4) Proceeds from sales, maturities, redemptions and paydowns of marketable securities — 6 Net cash (used in) provided by investing activities (4) 2 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock for ESPP 1 1 Proceeds from non-recourse asset-backed debt 68 576 Principal payments on non-recourse asset-backed debt (53) (362) Payment of loan origination fees and debt issuance costs — (8) Net cash provided by financing activities 16 207 NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (234) (70) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period 1,301 763 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period $ 1,067 $ 693 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest $ 20 $ 31 DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: Stock-based compensation expense capitalized for internally developed software $ 1 $ 1 RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 999 $ 559 Restricted cash 68 134 Cash, cash equivalents, and restricted cash $ 1,067 $ 693"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b18"], "char_count": 2393, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "70e7bb50a0dbb685db08144d3c0c83e90c9f8c079d286da76725e7f0d985707c", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 18, "char_end": 2393, "char_start": 0, "fragment_sha256": "f0bd0e3d4408225a8e3501ff0ae6a7a8b42e9c6afef444b13548aae3d3b60880", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Gross Profit and Contribution Profit to our Gross Profit Three Months Ended (in millions, except percentages and homes sold, or as noted) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Revenue (GAAP) $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Gross profit (GAAP) $ 72 $ 57 $ 66 $ 128 $ 99 Gross Margin 10.0 % 7.7 % 7.2 % 8.2 % 8.6 % Adjustments: Inventory valuation adjustment – Current Period (1)(2) 9 9 15 21 13 Inventory valuation adjustment – Prior Periods (1)(3) (14) (21) (17) (14) (12) Adjusted Gross Profit $ 67 $ 45 $ 64 $ 135 $ 100 Adjusted Gross Margin 9.3 % 6.1 % 7.0 % 8.6 % 8.7 % Adjustments: Direct selling costs (4) (23) (23) (28) (43) (29) Holding costs on sales – Current Period (5)(6) (3) (4) (4) (6) (5) Holding costs on sales – Prior Periods (5)(7) (9) (11) (12) (17) (12) Contribution Profit $ 32 $ 7 $ 20 $ 69 $ 54 Homes sold in period 1,921 1,978 2,568 4,299 2,946 Contribution Profit per Home Sold (in thousands) $ 17 $ 4 $ 8 $ 16 $ 18 Contribution Margin 4.4 % 1.0 % 2.2 % 4.4 % 4.7 % (1) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2) Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3) Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the condensed consolidated statements of operations. (5) Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the condensed consolidated statements of operations. (6) Represents holding costs incurred in the period presented on homes sold in the period presented. (7) Represents holding costs incurred in prior periods on homes sold in the period presented."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b20"], "char_count": 3579, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e6f3a5e7728df209f309e96e19caed1c26c6b4f9f9d3cdafe53ac8500da85c58", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 20, "char_end": 3579, "char_start": 0, "fragment_sha256": "0665f09f9256fe833898be6b7af39f6e8a96c5b0f881c5b4d62d120299103755", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our Net Loss Three Months Ended (in millions, except percentages) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Revenue (GAAP) $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Net loss (GAAP) $ (173) $ (1,096) $ (90) $ (29) $ (85) Adjustments: Stock-based compensation 15 16 13 13 14 Stock-based compensation for market condition RSUs 105 89 14 — — Equity securities fair value adjustment(1) — — — — 3 Amortization of stock-based compensation capitalized to IDSW 3 3 4 4 3 Inventory valuation adjustment – Current Period(2)(3) 9 9 15 21 13 Inventory valuation adjustment — Prior Periods(2)(4) (14) (21) (17) (14) (12) Restructuring(5) — — 1 6 3 CEO make-whole provision(6) 5 5 — — — Loss (gain) on extinguishment of debt 1 933 1 (10) — Other(7) — — (2) — (2) Adjusted Net Loss $ (49) $ (62) $ (61) $ (9) $ (63) Adjustments: Depreciation and amortization, excluding amortization of intangibles 5 5 5 5 5 Property financing(8) 19 21 23 29 29 Other interest expense(9) 4 7 11 7 4 Interest income(10) (10) (13) (12) (9) (5) Income tax expense — (1) 1 — — Adjusted EBITDA $ (31) $ (43) $ (33) $ 23 $ (30) Adjusted EBITDA Margin (4.3) % (5.8) % (3.6) % 1.5 % (2.6) % (1) Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2) Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (3) Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (4) Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (5) Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees’ roles, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Primarily includes and related party services income. (8) Includes interest expense on our non-recourse asset-backed debt facilities. (9) Includes (i) amortization of debt issuance costs, loan origination fees, commitment fees, unused fees, and other interest-related costs on our asset-backed debt facilities, and (ii) amortization of debt issuance costs and debt discounts and interest expense related to our convertible senior notes. (10) Consists mainly of interest earned on cash, cash equivalents and restricted cash."} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b22"], "char_count": 2732, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dc4f5ab2474ad72c7815459d0be8f28d79639756d6f057f851549e71e6f8a765", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 22, "char_end": 2732, "char_start": 0, "fragment_sha256": "fd240395c0b9621640623ee16cbfc778600c51def83f165e596bcccac2e31bc4", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "OPENDOOR TECHNOLOGIES INC. NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Operating Expenses to our Operating Expenses Three Months Ended (in millions, except percentages) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 OPERATING EXPENSES: Sales, marketing and operations 70 60 66 86 98 General and administrative 137 129 48 28 33 Technology and development 24 18 19 21 21 Restructuring — — 1 6 3 Total Operating Expenses (GAAP) $ 231 $ 207 $ 134 $ 141 $ 155 Operating Expenses (GAAP) $ 231 $ 207 $ 134 $ 141 $ 155 Adjustments: Direct Selling Costs(1) (23) (23) (28) (43) (29) Holding costs included in contribution profit(2) (12) (15) (16) (23) (17) Stock-based compensation (15) (16) (13) (13) (14) Stock-based compensation for market condition RSUs (105) (89) (14) — — Amortization of stock-based compensation capitalized IDSW (3) (3) (4) (4) (3) Restructuring — — (1) (6) (3) CEO make-whole provision(3) (5) (5) — — — Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (5) Other — (1) — (1) — Total Adjusted Operating Expenses (Non-GAAP) $ 63 $ 50 $ 53 $ 46 $ 84 (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes, and are included in Sales, marketing and operations. (2) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing and operations on the condensed consolidated statements of operations in the period in which they are incurred (“GAAP Holding Costs”). (3) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. 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NON-GAAP FINANCIAL MEASURES (Unaudited) Reconciliation of our Adjusted Sales, Marketing and Operatiions; Adjusted General and Administrative; and Adjusted Technology and Developement Expenses to Their Corresponding GAAP Measures Three Months Ended (in millions) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Sales, marketing and operations (GAAP)(1) $ 70 $ 60 $ 66 $ 86 $ 98 Direct Selling Costs(2) (23) (23) (28) (43) (29) Holding costs included in contribution profit(3)(4) (12) (15) (16) (23) (17) Stock-based compensation (1) (1) (2) (2) (2) Stock-based compensation for market condition RSUs (1) — — — — Adjusted Sales, Marketing and Operations (Non- GAAP)(5) $ 33 $ 21 $ 20 $ 18 $ 50 General and administrative (GAAP) $ 137 $ 129 $ 48 $ 28 $ 33 Stock-based compensation (10) (12) (9) (9) (9) Stock-based compensation for market condition RSUs (100) (89) (14) — — CEO make-whole provision(6) (5) (5) — — — Other — 1 — — — Adjusted General and Administrative (Non-GAAP)(5) $ 22 $ 24 $ 25 $ 19 $ 24 Technology and development (GAAP) $ 24 $ 18 $ 19 $ 21 $ 21 Stock-based compensation (4) (3) (2) (2) (3) Stock-based compensation for market condition RSUs (4) — — — — Amortization of stock-based compensation capitalized to IDSW (3) (3) (4) (4) (3) Depreciation and amortization, excluding amortization of intangibles (5) (5) (5) (5) (5) Other — (2) — (1) — Adjusted Technology and Development (Non-GAAP)(5) $ 8 $ 5 $ 8 $ 9 $ 10 Note: Advertising expenses(1) $ 19 $ 9 $ 7 $ 7 $ 24 (1) Advertising expenses are included in Sales, marketing and operations. (2) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (3) Represents holding costs incurred in the period presented on homes sold in the period presented as well as holding costs incurred in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations on the condensed consolidated statements of operations in the period in which they are incurred (“GAAP Holding Costs”). (4) The table below presents the timing difference within Adjusted Sales, marketing and operations related to holding costs. The amount of GAAP Holding Costs recognized during the period may be in excess of/ (less than) the amount of Resale Cohort Holding costs related to homes sold in the relevant period and included in Contribution Profit. Three Months Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Total GAAP Holding Costs $ 11 $ 10 $ 12 $ 16 $ 21 Holding costs on sales - Current Period (3) (4) (4) (6) (5) Holding costs on sales - Prior Periods (9) (11) (12) (17) (12) Less: Resale Cohort Holding Costs (12) (15) (16) (23) (17) GAAP Holding Costs in excess of / (less than) Resale Holding Costs included in Contribution Profit $ (1) $ (5) $ (4) $ (7) $ 4"} +{"artifact_role": "ex99-02", "block_ids": ["norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#b26"], "char_count": 1110, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "27ea3e456a203219c0fc23cadab1aea16e237e0950b101d97cfdc68513020baa", "derivation_id": "683bb84f05e29bda7e629e155b8f5af9695ec8a7838e5776bb03842931ae18e5", "document_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "document_type": "shareholder_letter", "exhibit_type": "EX-99.2", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.2"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "block_sequence": 26, "char_end": 1110, "char_start": 0, "fragment_sha256": "0e84995d376377eeaa458285946b6734e678015dd824773b0afde508efd5a03c", "heading_path": ["EX-99.2"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm#s2", "source_artifact_id": "sec:0001801169:0001801169-26-000013:exhibit992-q12026form8xk.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/exhibit992-q12026form8xk.htm", "table_id": null, "text": "(5) The sum of Adjusted Sales, Marketing and Operations, Adjusted General and Administrative, and Adjusted Technology and Development expenses is equal to Total Adjusted Operated Expenses (Non-GAAP). Refer to the \"Reconciliation of our Adjusted Operating Expenses to our Operating Expenses\" table. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. 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SEGMENT INFORMATION (Unaudited) Three Months Ended (in millions) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Revenue $ 720 $ 736 $ 915 $ 1,567 $ 1,153 Less: Cost of revenue (648) (679) (849) (1,439) (1,054) Direct selling costs(1) (23) (23) (28) (43) (29) Holding costs(2) (12) (15) (16) (23) (17) Advertising and other marketing expense(3) (19) (9) (7) (7) (24) Operations(4) (12) (13) (12) (15) (16) Fixed operating expense(5) (33) (35) (37) (31) (39) CEO make-whole provision(6) (5) (5) — — — Stock-based compensation (15) (16) (13) (13) (14) Stock-based compensation for market condition RSUs (105) (89) (14) — — Interest expense (23) (28) (34) (36) (33) Interest income 10 13 12 9 5 Other(7) (8) (933) (7) 2 (17) Net loss $ (173) $ (1,096) $ (90) $ (29) $ (85) (1) Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes and are included in Sales, marketing and operations. (2) Represents holding costs incurred both in the period presented and in prior periods on homes sold in the period presented (“Resale Cohort Holding Costs”). Holding costs include mainly property taxes, insurance, utilities, homeowners association dues, cleaning and maintenance costs. Holding costs are included in Sales, marketing and operations in the period in which they are incurred (“GAAP Holding Costs”). (3) Advertising expenses are included in Sales, marketing and operations. Other marketing expenses include non-advertising marketing expenses such as acquisition leads and referrals and public relations services and are included in Sales, marketing and operations. (4) Represents operating expenses that are generally related to the volume of homes transacted during the period and tend to be variable in nature. Primarily includes workforce expenses in support of sales, and real estate inventory operations. (5) Represents operating expenses that are not directly correlated with home transaction volumes. These expenses generally include costs related to salaries and benefits for our leadership, finance, technology, human resources, legal, marketing and administrative personnel, as well as third-party professional services fees, rent expense and third-party software. (6) In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7) Other segment income (expenses) are primarily made up of depreciation and amortization, gain on deconsolidation, net, restructuring, and amortization of stock-based compensation capitalized to internally developed software. This also includes the elimination of holding costs incurred in prior periods on homes sold in the periods presented, and includes holding costs incurred in the current period on homes remaining in inventory at period end."} diff --git a/data/normalized/sec/0001801169/8-K/2026-05-07_0001801169-26-000013/norm_0001801169_0001801169-26-000013_exhibit993-1q26opendoors.htm.json b/data/normalized/sec/0001801169/8-K/2026-05-07_0001801169-26-000013/norm_0001801169_0001801169-26-000013_exhibit993-1q26opendoors.htm.json new file mode 100644 index 0000000000000000000000000000000000000000..121c198f0a4f52e823fd0523331be3a2b07400c1 --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2026-05-07_0001801169-26-000013/norm_0001801169_0001801169-26-000013_exhibit993-1q26opendoors.htm.json @@ -0,0 +1,520 @@ +{ + "acceptance_datetime": "2026-05-07T16:14:36.000Z", + "amends_accession": null, + "artifact_role": "ex99-03", + "blocks": [ + { + "block_id": 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"norm:0001801169:0001801169-26-000013:open-20260507.htm#b28", "text": "| | | |\n| --- | --- | --- |\n| Exhibit No. | | Description |\n| | | |\n| 99.1 | | Press Release issued by Opendoor Technologies Inc. on May 7, 2026 |\n| 99.2 | | Financial Supplement issued by Opendoor Technologies Inc. on May 7, 2026 |\n| 99.3 | | Supplemental Macro Charts issued by Opendoor Technologies Inc. on May 7, 2026 |\n| 104 | | Cover Page Interactive Data File (Cover page XBRL tags are embedded within the Inline XBRL document) |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000013:open-20260507.htm#b31"], "char_count": 307, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0bb5bf7ce7f264a208b4dd8d010ca226c63794c4b58f3df4d80adff139dbe9c9", "derivation_id": "92658693458a3ab8bfafe90dfa7cd7bb41db6982da43ece03953e452d7fe78cd", "document_id": "norm:0001801169:0001801169-26-000013:open-20260507.htm", "document_type": "narrative_primary", 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Opendoor Technologies Inc. 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(Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its first quarter ended March 31, 2026. \u201cAs of April 1st, Opendoor is adjusted EBITDA profitable, on a 12-month go-forward basis. The October cohort was just the start. A full quarter later, we\u2019ve gone from a claim to a track record. Our 4Q25 and January 2026 cash acquisition cohorts have the best combination of margin, margin stability, and resale velocity of any corresponding cohort in company history (excluding the COVID-era cohorts)1. And, each of our October, November, December, and January cohorts are selling faster than any corresponding cohort since COVID. Acquisition contracts are up 2x quarter-over-quarter, back to levels we haven\u2019t seen since 2022. Aged inventory has been cut from half the book to one-tenth while scaling volume. As a result, resale contribution margin is at its highest level in nearly two years,\u201d said Kaz Nejatian, CEO of Opendoor. \u201cWe're seeing a step-function change in cohort margins, margin stability, resale velocity, and inventory health. Across those metrics, performance is among the strongest in our 10+ year operating history.\u201d \u201cThese don't all move in the same direction by accident. This is a structural shift that requires a different model than the legacy framework most people are still using for this company. Better acquisitions, faster turns, stronger margins. The machine is working.\u201d We are executing against three management objectives critical to reaching profitability. 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We're making meaningful progress and remain focused on execution. With that context, we want to provide you with the following guideposts: \u2022We are driving to Adjusted Net Income positive by the end of 2026, measured on a 12-month go-forward basis. \u2022Q2 2026 Financial Outlook: \u25e6Acquisitions: You can track our acquisition contracts on accountable.opendoor.com2. \u25e6Revenue: We expect revenue growth of approximately 25% quarter-over-quarter. \u25e6Contribution Margin3: Our Contribution Margin bottomed out in September 2025 and has been improving every month since. We expect Contribution Margin for Q2 2026 to fall in the middle of our 5-7% targeted Contribution Margin range. 2 The estimates and information presented at accountable.opendoor.com rely on assumptions and are subject to limitations; accordingly, no guarantee is made as to their accuracy. Acquisition contract volume represents contracts under which Opendoor has agreed to acquire a property, including through its Cash Plus program, and does not reflect contracts that are subsequently cancelled. 3 Opendoor has not provided a quantitative reconciliation of forecasted Contribution Margin to forecasted GAAP gross margin nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss), GAAP gross margin, and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company\u2019s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see \u201cUse of Non-GAAP Financial Measures\u201d following the financial tables below. \u25e6Adjusted EBITDA3: We expect to be Adjusted EBITDA breakeven for Q2 2026, plus or minus a few million. We expect to be Adjusted EBITDA profitable on a 12-month go-forward basis starting in Q2 2026. You can continue to follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b18", + "block_sequence": 18, + "block_sha256": "cdb4ee2aea69cc6a83331bbe96dc2caa9a299d21329efb0336fc02a82e1839a8", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 18, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "b7a3d768300269df8ee24a8ef8856b2ac10e44163a4ed0c2358d3ba30bb82f94", + "heading_path": [ + "EX-99.1", + "Financial Outlook" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s6", + "table": null, + "text": "." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b19", + "block_sequence": 19, + "block_sha256": "a6d5472b2970d188397362cbeb120c141dfa00ea685622341f4da2accca23ec9", + "block_type": "heading", + "char_count": 35, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 19, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "ccf6c2cf0f1f487e4dee6c0db9db5e9ad5d5e52b2d1efdb317ea9c44fd3567ef", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s7", + "table": null, + "text": "Conference Call and Webcast Details" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b20", + "block_sequence": 20, + "block_sha256": "edc48d966562f594dd51bb9596db11336191f0605cd6133cb0741b9d175312c5", + "block_type": "paragraph", + "char_count": 315, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 20, + "char_end": 315, + "char_start": 0, + "fragment_sha256": "5750c357e17c116bfbd3ce2ef18c36dd595fc44f051e59178c94de598b0089fe", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s7", + "table": null, + "text": "Opendoor will host a webcast to discuss its financial results on May 7, 2026, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor\u2019s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b21", + "block_sequence": 21, + "block_sha256": "bee3b0c71ab4d6d3fe30831f8a6898f49de6dcbb44cd92a09d86856b2468a886", + "block_type": "heading", + "char_count": 14, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 21, + "char_end": 14, + "char_start": 0, + "fragment_sha256": "dd930d2d16d35ad4c859f05048a9f04e72150ae2a23adec43f0c06ed406a1ef7", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "About Opendoor" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s8", + "table": null, + "text": "About Opendoor" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b22", + "block_sequence": 22, + "block_sha256": "9f839fae12494fca4800d287f0cb6b2ead190c1665d1cdd522c10648103a0bb7", + "block_type": "paragraph", + "char_count": 1299, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 22, + "char_end": 1299, + "char_start": 0, + "fragment_sha256": "5ac5c52a3ff7cf3c081804b12c555705be5f37ebbabd933f6265e6ef231ed958", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "About Opendoor" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s8", + "table": null, + "text": "Opendoor\u2019s mission is to tilt the world in favor of homeowners, by making homeownership simpler, faster, and fairer for everyone. Since 2014, the Company has provided people across the U.S. with a simpler, more certain way to sell and buy a home. Opendoor currently operates in markets nationwide. For more information, please visit www.opendoor.com. Opendoor investors and others should note that we have used, and intend to continue to use, our website (including accountable.opendoor.com and investor.opendoor.com), press releases, Securities and Exchange Commission (\u201cSEC\u201d) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @Nejatian, and @Opendoor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor\u2019s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b23", + "block_sequence": 23, + "block_sha256": "1d8469bf9c663edb3c938b337e8eb7b6386c9f6dc8633427fe813d5f0ad02182", + "block_type": "heading", + "char_count": 26, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 23, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "48f698fb26c93cff4f34599156ab1b29c036dd4d3e3f61d2371b673f76610166", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s9", + "table": null, + "text": "Forward Looking Statements" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b24", + "block_sequence": 24, + "block_sha256": "1fe10a3203b9e4463a53d45b26e4cf71c8ecf0b1e364b2057b069e38b325bd6c", + "block_type": "paragraph", + "char_count": 6644, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 24, + "char_end": 6644, + "char_start": 0, + "fragment_sha256": "e2bd363ae4253f7264d327debdda51befee217c042bf3de28ff28e167a98d063", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "Forward Looking Statements" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s9", + "table": null, + "text": "This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our fiscal 2026 and second quarter of 2026 financial outlook; whether we are able to operate a level consistent with positive adjusted EBITDA going forward; scaling acquisitions, improving unit economics and resale velocity, and building operating leverage; transitioning to direct-to-consumer relationships and expanding our product suite; ongoing performance of our October, November and December 2025 and January 2026 cohorts; our future product offerings, including our ability to leverage AI to drive operational efficiency; the future health and status of our financial condition; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontemplate\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cforecast\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201copportunity\u201d, \u201coutlook\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cstrategy\u201d, \u201cstrive\u201d, \u201ctarget\u201d, \u201cvision\u201d, \u201cwill\u201d, or \u201cwould\u201d, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward- looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: our ability to implement our strategy; the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock and warrants. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption \u201cRisk Factors\u201d in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on February 19, 2026, as updated by our periodic reports and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b25", + "block_sequence": 25, + "block_sha256": "7c01aec3b1d2f2fdb66a623063b725388e004a3a64d940279efe58ee27921384", + "block_type": "heading", + "char_count": 19, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 25, + "char_end": 19, + "char_start": 0, + "fragment_sha256": "b2a73bb45b0a87c6b05815120daeba4c8fed2fda1b58810a64ed6835280dff05", + "heading_path": [ + "EX-99.1", + "Financial Outlook", + "Conference Call and Webcast Details", + "Contact Information" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s10", + "table": null, + "text": "Contact Information" + }, + { + "block_id": 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| | | | | | \n | 2026 | | 2025 | | | | \nCASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | \nNet loss | $ | (173) | | | $ | (85) | \nAdjustments to reconcile net loss to cash, cash equivalents, and restricted cash used in operating activities: | | | | | | | \nDepreciation and amortization | 8 | | | 10 | | | \nAmortization of right of use asset | \u2014 | | | 1 | | | \n | | | | | | | \nStock-based compensation | 120 | | | 14 | | | \n | | | | | | | \n | | | | | | | \nInventory valuation adjustment | 9 | | | 13 | | | \n | | | | | | | \n | | | | | | | \nChange in fair value of equity securities | \u2014 | | | 3 | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nOther | 3 | | | \u2014 | | | \nOrigination of mortgage loans held for sale | (1) | | | \u2014 | | | \n | | | | | | | \nLoss on extinguishment of debt | 1 | | | \u2014 | | | \n | | | | | | | \nChanges in operating assets and liabilities: | | | | | | | \nEscrow receivable | (6) | | | (14) | | | \nReal estate inventory | (221) | | | (212) | | | \nOther assets | 42 | | | (16) | | | \nAccounts payable and other accrued liabilities | (29) | | | 8 | | | \nInterest payable | 1 | | | \u2014 | | | \nLease liabilities | \u2014 | | | (1) | | | \nNet cash used in operating activities | (246) | | | (279) | | | \nCASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | \nPurchase of property and equipment | (4) | | | (4) | | | \n | | | | | | | \n | | | | | | | \nProceeds from sales, maturities, redemptions and paydowns of marketable securities | \u2014 | | | 6 | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nNet cash (used in) provided by investing activities | (4) | | | 2 | | | \nCASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nProceeds from issuance of common stock for ESPP | 1 | | | 1 | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nProceeds from non-recourse asset-backed debt | 68 | | | 576 | | | \nPrincipal payments on non-recourse asset-backed debt | (53) | | | (362) | | | \n | | | | | | | \n | | | | | | | \nPayment of loan origination fees and debt issuance costs | \u2014 | | | (8) | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nNet cash provided by financing activities | 16 | | | 207 | | | \nNET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (234) | | | (70) | | | \nCASH, CASH EQUIVALENTS, AND RESTRICTED CASH \u2013 Beginning of period | 1,301 | | | 763 | | | \nCASH, CASH EQUIVALENTS, AND RESTRICTED CASH \u2013 End of period | $ | 1,067 | | | $ | 693 | \nSUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION \u2013 Cash paid during the period for interest | $ | 20 | | | $ | 31 | \nDISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nStock-based compensation expense capitalized for internally developed software | $ | 1 | | | $ | 1 | \n | | | | | | | \n | | | | | | | \n | | | | | | | \n | | | | | | | \nRECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: | | | | | | | \nCash and cash equivalents | $ | 999 | | | $ | 559 | \nRestricted cash | 68 | | | 134 | | | \nCash, cash equivalents, and restricted cash | $ | 1,067 | | | $ | 693 | " + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b51", + "block_sequence": 51, + "block_sha256": "f01dcca04a180fe8b33e7e553c28d81ff0239330406c2d2236d709babc9f6d4a", + "block_type": "heading", + "char_count": 34, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 51, + "char_end": 34, + 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"table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s17", + "table": null, + "text": "To provide investors with additional information regarding the Company\u2019s financial results, this press release includes references to certain non-GAAP financial measures that are used by management. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company\u2019s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company\u2019s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company\u2019s performance by excluding certain items that may not be indicative of the Company\u2019s recurring operating results." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b53", + "block_sequence": 53, + "block_sha256": "cf4412b7f2e978b2176133264010c82edd93914c688c938a6288ba932a7fe02a", + "block_type": "heading", + "char_count": 45, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 53, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "cf1b29446f8347dbf44d3e68ff9575480b999e280b6eb3c083fd07ac58bd12ec", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s18", + "table": null, + "text": "Adjusted Gross Profit and Contribution Profit" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b54", + "block_sequence": 54, + "block_sha256": "f3cfb30b6551441a3bbe77bf58a22571ed60536ec7666584924c117fa1614884", + "block_type": "paragraph", + "char_count": 1730, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 54, + "char_end": 1730, + "char_start": 0, + "fragment_sha256": "be052a30e7db53aabe2507012e4ccedc3a40b4a46a2942350d1a3f9148150b98", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit and Contribution Profit" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s18", + "table": null, + "text": "To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor\u2019s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b55", + "block_sequence": 55, + "block_sha256": "3a0f4b517b2973d0284f077238ba89bbd42b072b4d09fc22bba1dad3687e0f87", + "block_type": "heading", + "char_count": 30, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 55, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "baa0cb19238757da38579cd06f1b18a8019e1e41ed4f96c6339b96ea68bd5910", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s19", + "table": null, + "text": "Adjusted Gross Profit / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b56", + "block_sequence": 56, + "block_sha256": "4d6022774af95a17dc18d15aa406e015335223e69ab92b2f6d95abe057dab923", + "block_type": "paragraph", + "char_count": 966, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 56, + "char_end": 966, + "char_start": 0, + "fragment_sha256": "62f3140fc23d7d69b87d6eceb6bd6e24d053b85b840902cc4a056be75d3eac42", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Gross Profit / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s19", + "table": null, + "text": "We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b57", + "block_sequence": 57, + "block_sha256": "530922c6281eb17366bc5afad3d135e14758fe69731bdbd8be3f74f8618ea5bf", + "block_type": "heading", + "char_count": 28, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 57, + "char_end": 28, + "char_start": 0, + "fragment_sha256": "4eedaa2d56b5e54507af525e8ebf0b1949eefc457d669b2295216ca9304155f7", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s20", + "table": null, + "text": "Contribution Profit / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b58", + "block_sequence": 58, + "block_sha256": "a595a4a1a9c94cb8b8a02997fcd776dc6ccba9df773b3e4ebbbc157c91b5e50c", + "block_type": "paragraph", + "char_count": 789, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 58, + "char_end": 789, + "char_start": 0, + "fragment_sha256": "b0b7ff26a1b12d279617a98418a173ab3a2f0197473fa59012622fe8e3bdb178", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s20", + "table": null, + "text": "We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess the revenues and certain costs directly attributable to a specific resale cohort." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b59", + "block_sequence": 59, + "block_sha256": "7460ff5afa74595bed1ed49c4ec349f88984782302cbab9cee3bae99ec2b46cd", + "block_type": "page_header", + "char_count": 26, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 59, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "6c09580c898ba7f1f243df20dc138e96cf3b26da61a7a28dfe22dc8b2b89bd47", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s20", + "table": null, + "text": "OPENDOOR TECHNOLOGIES INC." + }, + { + "block_id": 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"block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 62, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "0417672dc31cc792cda6f9f98c166b641752fa3aa6bc0a5e7f172b28d5519f79", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s21", + "table": null, + "text": "(Unaudited)" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b63", + "block_sequence": 63, + "block_sha256": "512940f665c2d13665d7cda06f1e78ef82dbb79c5a911960b6f4b42fa88be87b", + "block_type": "paragraph", + "char_count": 198, + "level": null, + "locator": { + "artifact_id": 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| | March 31, 2026 | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | | | | | | | | | | | | | \nRevenue (GAAP) | | $ | 720 | | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | | | \nGross profit (GAAP) | | $ | 72 | | | $ | 57 | | | $ | 66 | | | $ | 128 | | | $ | 99 | | | | | \nGross Margin | | 10.0 | % | | 7.7 | % | | 7.2 | % | | 8.2 | % | | 8.6 | % | | | | | | | | | \nAdjustments: | | | | | | | | | | | | | | | | | | | | | | | | \nInventory valuation adjustment \u2013 Current Period(1)(2) | | 9 | | | 9 | | | 15 | | | 21 | | | 13 | | | | | | | | | | \nInventory valuation adjustment \u2013 Prior Periods(1)(3) | | (14) | | | (21) | | | (17) | | | (14) | | | (12) | | | | | | | | | | \n | | | | | | | | | | | | | | | | | | | | | | | | \nAdjusted Gross Profit | | $ | 67 | | | $ | 45 | | | $ | 64 | | | $ | 135 | | | $ | 100 | | | | | \nAdjusted Gross Margin | | 9.3 | % | | 6.1 | % | | 7.0 | % | | 8.6 | % | | 8.7 | % | | | | | | | | | 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"4cf00d828a49141d245df4e3d22e42f6ceb9cf545bc53f0f5984d2aa792cbd44", + "block_type": "other", + "char_count": 16, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 65, + "char_end": 16, + "char_start": 0, + "fragment_sha256": "f32497db0e534f3cac2134131e10d08e6e47abcc4f817b11288fab40531d3189", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s21", + "table": null, + "text": "________________" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b66", + "block_sequence": 66, + "block_sha256": "0d305485bd2b9804c2867b070175b2d4def78e49fab327f67728dfb9898c0a0d", + "block_type": "paragraph", + "char_count": 1252, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 66, + "char_end": 1252, + "char_start": 0, + "fragment_sha256": "49ef52c8befbd64367e825b3bdc3d37cf6dab86473bc1e2f47b4f95f80617b68", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Contribution Profit / Margin", + "RECONCILIATION OF GAAP TO NON-GAAP MEASURES" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s21", + "table": null, + "text": "(1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment \u2014 Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment \u2014 Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the condensed consolidated statements of operations. (5)Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the condensed consolidated statements of operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b67", + "block_sequence": 67, + "block_sha256": "37935488b247cdf343c0c8144ff521e96ad9f18f66bbb30d6e7419e323a258dd", + "block_type": "heading", + "char_count": 37, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 67, + "char_end": 37, + "char_start": 0, + "fragment_sha256": "7d73a982a3059ce2d3fb2d6b67792ead1f8b44bb37c4d2e384f2b18bb474ec56", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s22", + "table": null, + "text": "Adjusted Net Loss and Adjusted EBITDA" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b68", + "block_sequence": 68, + "block_sha256": "30e3586e1712e96c1479714394b97d9b879cbd2828d27d768e91ef2ae245842e", + "block_type": "paragraph", + "char_count": 1547, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 68, + "char_end": 1547, + "char_start": 0, + "fragment_sha256": "a1a8ccfd071c8de8eda06c6ff64659d7fadb79fec3b42f3c93f08264bb446d21", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss and Adjusted EBITDA" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s22", + "table": null, + "text": "We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b69", + "block_sequence": 69, + "block_sha256": "236a9f2403017a5277b663ccb31ec43d8c2bfa477b0ef7a6739ae4ae9f4de383", + "block_type": "heading", + "char_count": 17, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 69, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "cb70ddf5f8ea6dedb56e75aef3d884bf0809082eeb0587d69c740ed25a2bff05", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s23", + "table": null, + "text": "Adjusted Net Loss" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b70", + "block_sequence": 70, + "block_sha256": "fd8be4644ba8b3ed6c7e2be2ef7dd0c0766fc737d7146703e16abf2fb9bae385", + "block_type": "paragraph", + "char_count": 1220, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 70, + "char_end": 1220, + "char_start": 0, + "fragment_sha256": "8fbf56f355f5d75c4b63c75e90454ae8f78209657f2c4737141c5f09f223429a", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted Net Loss" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s23", + "table": null, + "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment and the amortization of stock-based compensation capitalized to internally developed software (\u201cIDSW\u201d). It excludes expenses that are not directly related to our revenue-generating operations such as restructuring and CEO make-whole provision. It also excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses or gains are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date." + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b71", + "block_sequence": 71, + "block_sha256": "e21a9b231049964de5ed48be4f1552178df178466705ae25a8ad92f9d827c980", + "block_type": "heading", + "char_count": 24, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 71, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "ac44008dd990c7ef1bad8982285a2d3ddeb230acc700e6c05708926dcdc574ab", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted EBITDA / Margin" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s24", + "table": null, + "text": "Adjusted EBITDA / Margin" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b72", + "block_sequence": 72, + "block_sha256": "dfcdd3eb3c508d47aa6b0f99c68aa27a5d519764353000222958249f2ccea5c0", + "block_type": "paragraph", + "char_count": 598, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 72, + "char_end": 598, + "char_start": 0, + "fragment_sha256": "be86067c82d7130ef9ef84b3f3cfd8254f2d781e91fad24e7d514b62fd4b394b", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted EBITDA / Margin" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s24", + "table": null, + "text": "We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. The following table presents a reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our net loss, which is the most directly comparable GAAP measure, for the periods indicated:" + }, + { + "block_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b73", + "block_sequence": 73, + "block_sha256": "01420e4b84fa839a59c65d73f7b44d82846e257f8ede43688beca17c9c6a2fc2", + "block_type": "table", + "char_count": 3276, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", + "block_sequence": 73, + "char_end": 3276, + "char_start": 0, + "fragment_sha256": "73bed435b8055dc5a82723cfd7620821ae89a515270bbd06187e8e8dfad371d2", + "heading_path": [ + "EX-99.1", + "Use of Non-GAAP Financial Measures", + "Adjusted EBITDA / Margin" + ], + "table_index": 8, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s24", + "table": { + "caption": null, + 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| 89 | | | 14 | | | \u2014 | | | \u2014 | | | | | | | | | | |\n| Equity securities fair value adjustment(1) | | \u2014 | | | \u2014 | | | \u2014 | | | \u2014 | | | 3 | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Amortization of stock-based compensation capitalized to IDSW | | 3 | | | 3 | | | 4 | | | 4 | | | 3 | | | | | | | | | | |\n| Inventory valuation adjustment \u2013 Current Period(2)(3) | | 9 | | | 9 | | | 15 | | | 21 | | | 13 | | | | | | | | | | |\n| Inventory valuation adjustment \u2014 Prior Periods(2)(4) | | (14) | | | (21) | | | (17) | | | (14) | | | (12) | | | | | | | | | | |\n| Restructuring(5) | | \u2014 | | | \u2014 | | | 1 | | | 6 | | | 3 | | | | | | | | | | |\n| CEO make-whole provision(6) | | 5 | | | 5 | | | \u2014 | | | \u2014 | | | \u2014 | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Loss (gain) on extinguishment of debt | | 1 | | | 933 | | | 1 | | | 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in Opendoor history (ex-COVID era)\n\nSAN FRANCISCO, California - May 7, 2026 - Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its first quarter ended March 31, 2026. “As of April 1st, Opendoor is adjusted EBITDA profitable, on a 12-month go-forward basis. The October cohort was just the start. A full quarter later, we’ve gone from a claim to a track record. Our 4Q25 and January 2026 cash acquisition cohorts have the best combination of margin, margin stability, and resale velocity of any corresponding cohort in company history (excluding the COVID-era cohorts)1. And, each of our October, November, December, and January cohorts are selling faster than any corresponding cohort since COVID. Acquisition contracts are up 2x quarter-over-quarter, back to levels we haven’t seen since 2022. Aged inventory has been cut from half the book to one-tenth while scaling volume. As a result, resale contribution margin is at its highest level in nearly two years,” said Kaz Nejatian, CEO of Opendoor. “We're seeing a step-function change in cohort margins, margin stability, resale velocity, and inventory health. Across those metrics, performance is among the strongest in our 10+ year operating history.” “These don't all move in the same direction by accident. This is a structural shift that requires a different model than the legacy framework most people are still using for this company. Better acquisitions, faster turns, stronger margins. The machine is working.” We are executing against three management objectives critical to reaching profitability. 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declined from 33% to 10% quarter-over-quarter, compared to 33% for the overall market. - Contribution Margin has improved every month since September, with Ma… |\n| (3) Build Operating Leverage (1) | - Fixed operating expenses hold relatively steady as we rescale volumes (Reported quarterly). - Trailing 12-month operations expense as a % of trailing 12-month revenue holds relatively steady or dec… | - Fixed operating expenses were $33M in 1Q 2026 compared to $35M in 4Q 2026 and $39M in 1Q 2025, down $2M quarter-over-quarter and $6M year-over-year. - Trailing 12-month operations expense as a % of… |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b12"], "char_count": 236, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0fb23407777508f07732d18611ad9eee7d55245daec87d3b3f99909f3e37b440", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", 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31, 2025 | | Change | | | | | | | | | | | | |\n| Revenue | | $ | 720 | | | | | | | | | $ | 1,153 | | | $ | (433) | | | | | | | |\n| Gross profit | | $ | 72 | | | | | | | | | $ | 99 | | | $ | (27) | | | | | | | |\n| Gross Margin | | 10.0 | % | | | | | | | | 8.6 | % | | | | | | | | | | | | |\n| Net loss | | $ | (173) | | | | | | | | | $ | (85) | | | $ | (88) | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Homes sold | | 1,921 | | | | | | | | | 2,946 | | | (1,025) | | | | | | | | | | |\n| Homes purchased | | 2,474 | | | | | | | | | 3,609 | | | (1,135) | | | | | | | | | | |\n| Homes in inventory (at period end) | | 3,420 | | | | | | | | | 7,080 | | | (3,660) | | | | | | | | | | |\n| Inventory (at period end) | | $ | 1,139 | | | | | | | | | $ | 2,362 | | | $ | (1,223) | | | | | | | |\n| Homes under contract to purchase (at period end) | | 1,939 | | | | | | | | | 1,051 | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Non-GAAP Financial Highlights (1) | | | | | | | | | | | | | | | | | | | | | | | | |\n| Contribution Profit | | $ | 32 | | | | | | | | | $ | 54 | | | $ | (22) | | | | | | | |\n| Contribution Margin | | 4.4 | % | | | | | | | | 4.7 | % | | | | | | | | | | | | |\n| Adjusted EBITDA | | $ | (31) | | | | | | | | | $ | (30) | | | $ | (1) | | | | | | | |\n| Adjusted EBITDA Margin | | (4.3) | % | | | | | | | | (2.6) | % | | | | | | | | | | | | |\n| Adjusted Net Loss | | $ | (49) | | | | | | | | | $ | (63) | | | $ | 14 | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b15"], "char_count": 155, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3bb7b2e5b1039668b89ffc7ecc64a57e256d00f540eb2c5be4e8c5317426760c", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", 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"filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 17, "char_end": 2443, "char_start": 0, "fragment_sha256": "83087a5ba3b1b7853fe5f78e944f762595cf27082a3c64d2df585b6dcdc76422", "heading_path": ["EX-99.1", "Financial Outlook"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p9", "passage_kind": "narrative", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s6", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "We're focused on making the right long-term decisions to rebuild Opendoor rather than managing to short-term guidance. We're making meaningful progress and remain focused on execution. With that context, we want to provide you with the following guideposts: •We are driving to Adjusted Net Income positive by the end of 2026, measured on a 12-month go-forward basis. •Q2 2026 Financial Outlook: ◦Acquisitions: You can track our acquisition contracts on accountable.opendoor.com2. ◦Revenue: We expect revenue growth of approximately 25% quarter-over-quarter. ◦Contribution Margin3: Our Contribution Margin bottomed out in September 2025 and has been improving every month since. We expect Contribution Margin for Q2 2026 to fall in the middle of our 5-7% targeted Contribution Margin range. 2 The estimates and information presented at accountable.opendoor.com rely on assumptions and are subject to limitations; accordingly, no guarantee is made as to their accuracy. Acquisition contract volume represents contracts under which Opendoor has agreed to acquire a property, including through its Cash Plus program, and does not reflect contracts that are subsequently cancelled. 3 Opendoor has not provided a quantitative reconciliation of forecasted Contribution Margin to forecasted GAAP gross margin nor a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to, inventory valuation adjustment and equity securities fair value adjustment. These items, which could materially affect the computation of forward-looking GAAP gross profit (loss), GAAP gross margin, and net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. For more information regarding the non-GAAP financial measures discussed in this press release, please see “Use of Non-GAAP Financial Measures” following the financial tables below. ◦Adjusted EBITDA3: We expect to be Adjusted EBITDA breakeven for Q2 2026, plus or minus a few million. We expect to be Adjusted EBITDA profitable on a 12-month go-forward basis starting in Q2 2026. You can continue to follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b18"], "char_count": 1, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cdb4ee2aea69cc6a83331bbe96dc2caa9a299d21329efb0336fc02a82e1839a8", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": ["short_passage"], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 18, "char_end": 1, "char_start": 0, "fragment_sha256": "b7a3d768300269df8ee24a8ef8856b2ac10e44163a4ed0c2358d3ba30bb82f94", "heading_path": ["EX-99.1", "Financial Outlook"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s6", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b20"], "char_count": 315, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "edc48d966562f594dd51bb9596db11336191f0605cd6133cb0741b9d175312c5", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 20, "char_end": 315, "char_start": 0, "fragment_sha256": "5750c357e17c116bfbd3ce2ef18c36dd595fc44f051e59178c94de598b0089fe", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p11", "passage_kind": "narrative", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s7", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "Opendoor will host a webcast to discuss its financial results on May 7, 2026, at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b22"], "char_count": 1299, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9f839fae12494fca4800d287f0cb6b2ead190c1665d1cdd522c10648103a0bb7", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "About Opendoor"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 22, "char_end": 1299, "char_start": 0, "fragment_sha256": "5ac5c52a3ff7cf3c081804b12c555705be5f37ebbabd933f6265e6ef231ed958", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "About Opendoor"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s8", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "Opendoor’s mission is to tilt the world in favor of homeowners, by making homeownership simpler, faster, and fairer for everyone. Since 2014, the Company has provided people across the U.S. with a simpler, more certain way to sell and buy a home. Opendoor currently operates in markets nationwide. For more information, please visit www.opendoor.com. Opendoor investors and others should note that we have used, and intend to continue to use, our website (including accountable.opendoor.com and investor.opendoor.com), press releases, Securities and Exchange Commission (“SEC”) filings, blogs, community hub and social media accounts, as well as the X (formerly known as Twitter) accounts of its Chief Executive Officer, @Nejatian, and @Opendoor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Opendoor encourages investors and others to review the information Opendoor makes public in the foregoing locations as such information could be deemed to be material information. Please note that this list may be updated from time to time. Investors should subscribe to these social media accounts and Opendoor’s investor alerts, in addition to following its press releases, SEC filings, public conference calls and webcasts."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b24"], "char_count": 1842, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c6618716f379c70c695ced53e078cb98fde59165ee2e623936537b996bbd24eb", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 24, "char_end": 1842, "char_start": 0, "fragment_sha256": "e2bd363ae4253f7264d327debdda51befee217c042bf3de28ff28e167a98d063", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p13", "passage_kind": "narrative", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s9", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our fiscal 2026 and second quarter of 2026 financial outlook; whether we are able to operate a level consistent with positive adjusted EBITDA going forward; scaling acquisitions, improving unit economics and resale velocity, and building operating leverage; transitioning to direct-to-consumer relationships and expanding our product suite; ongoing performance of our October, November and December 2025 and January 2026 cohorts; our future product offerings, including our ability to leverage AI to drive operational efficiency; the future health and status of our financial condition; and our business strategy and plans, including plans to continue to invest in and enhance our products. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward- looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b24"], "char_count": 3864, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "94cc092c3364e24d70b6561808047ccfad33a232492438f3b6af3c9ddbca3de3", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 24, "char_end": 5706, "char_start": 1842, "fragment_sha256": "e2bd363ae4253f7264d327debdda51befee217c042bf3de28ff28e167a98d063", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s9", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: our ability to implement our strategy; the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for our products and services, lower our profitability or reduce our access to future financings; actual or anticipated fluctuations in our financial condition and results of operations; changes in projected operational and financial results; our real estate assets and increased competition in the U.S. residential real estate industry; our ability to operate and grow our core business products, including the ability to obtain sufficient financing and resell purchased homes; investment of resources to pursue strategies and develop new products and services that may not prove effective or that are not attractive to customers and/or partners or that do not allow us to compete successfully; our ability to acquire and resell homes profitably; our ability to grow market share; our ability to leverage AI to drive operational efficiency; our ability to manage our growth effectively; our ability to expeditiously sell and appropriately price our inventory; our ability to access sources of capital, including debt financing to finance our real estate inventories and other sources of capital to finance operations and growth; our ability to maintain liquidity and to raise the funds necessary for any cash settlement upon conversion of our outstanding convertible notes or upon repurchasing our outstanding convertible notes; any dilutive effect on our common stock upon any settlement of our outstanding convertible notes through the conversion of notes into shares of our common stock; our ability to maintain and enhance our products and brand, and to attract customers; our ability to manage, develop and refine our digital platform, including our automated pricing and valuation technology; our ability to realize expected benefits from our restructuring and cost reduction efforts; our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain or establish relationships with listings and data providers; our ability to obtain or maintain licenses and permits to support our current and future business operations; acquisitions, strategic partnerships, joint ventures, capital-raising activities or other corporate transactions or commitments by us or our competitors; actual or anticipated changes in technology, products, markets or services by us or our competitors; our ability to protect our brand and intellectual property; our success in retaining or recruiting, or changes required in, our officers, key employees and/or directors; the impact of the regulatory environment and potential regulatory instability within our industry and complexities with compliance related to such environment; any future impact of pandemics, epidemics, or other public health crises on our ability to operate, demand for our products and services, or general economic conditions; our ability to maintain our listing on the Nasdaq Global Select Market; changes in laws or government regulation affecting our business; the impact of pending or future litigation or regulatory actions; and the volatility in the price of our common stock and warrants. The foregoing list of factors is not exhaustive."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b24"], "char_count": 936, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e5179f07b3839d9385358b693a50c632cafea929f03286c84e437e64b97fa65f", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 24, "char_end": 6642, "char_start": 5706, "fragment_sha256": "e2bd363ae4253f7264d327debdda51befee217c042bf3de28ff28e167a98d063", "heading_path": ["EX-99.1", "Financial Outlook", "Conference Call and Webcast Details", "Forward Looking Statements"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s9", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 19, 2026, as updated by our periodic reports and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 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|\n| | Three Months Ended | | | | | | | | | | | | | | | | | | | | | | |\n| | March 31, 2026 | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | | | | | | | | | | | | | |\n| REVENUE | $ | 720 | | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | | | |\n| COST OF REVENUE | 648 | | | 679 | | | 849 | | | 1,439 | | | 1,054 | | | | | | | | | | |\n| GROSS PROFIT | 72 | | | 57 | | | 66 | | | 128 | | | 99 | | | | | | | | | | |\n| OPERATING EXPENSES: | | | | | | | | | | | | | | | | | | | | | | | |\n| Sales, marketing and operations | 70 | | | 60 | | | 66 | | | 86 | | | 98 | | | | | | | | | | |\n| General and administrative | 137 | | | 129 | | | 48 | | | 28 | | | 33 | | | | | | | | | | |\n| Technology and development | 24 | | | 18 | | | 19 | | | 21 | | | 21 | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | |\n| Restructuring | — | | | — | | | 1 | | | 6 | | | 3 | | | | | | | | | | |\n| Total operating expenses | 231 | | | 207 | | | 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"norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b45", "text": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | March 31, 2026 | | December 31, 2025 | | | | |\n| ASSETS | | | | | | | | |\n| CURRENT ASSETS: | | | | | | | | |\n| Cash and cash equivalents | | $ | 999 | | | $ | 962 | |\n| Restricted cash | | 68 | | | 339 | | | |\n| | | | | | | | | |\n| Escrow receivable | | 10 | | | 4 | | | |\n| | | | | | | | | |\n| Real estate inventory, net | | 1,139 | | | 925 | | | |\n| Other current assets ($1 and $0 carried at fair value) | | 26 | | | 69 | | | |\n| Total current assets | | 2,242 | | | 2,299 | | | |\n| PROPERTY AND EQUIPMENT – Net | | 25 | | | 27 | | | |\n| RIGHT OF USE ASSETS | | 8 | | | 8 | | | |\n| GOODWILL | | 3 | | | 3 | | | |\n| | | | | | | | | |\n| OTHER ASSETS | | 71 | | | 70 | | | |\n| TOTAL ASSETS | | $ | 2,349 | | | $ | 2,407 | |\n| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | |\n| CURRENT LIABILITIES: | | | | | | | | |\n| Accounts payable and other accrued liabilities | | $ | 53 | | | $ | 80 | |\n| Non-recourse asset-backed debt – current portion | | 68 | | | 52 | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| Convertible senior notes – current portion | | 193 | | | 193 | | | |\n| Interest payable | | 2 | | | 1 | | | |\n| Lease liabilities – current portion | | 1 | | | 1 | | | |\n| Total current liabilities | | 317 | | | 327 | | | |\n| NON-RECOURSE ASSET-BACKED DEBT – Net of current portion | | 1,070 | | | 1,068 | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| LEASE LIABILITIES – Net of current portion | | 6 | | | 6 | | | |\n| OTHER LIABILITIES | | 2 | | | 1 | | | |\n| Total liabilities | | 1,395 | | | 1,402 | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| | | | | | | | | |\n| SHAREHOLDERS’ EQUITY: | | | | | | | | |\n| Common stock, $0.0001 par value; 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equity securities | — | | | 3 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Other | 3 | | | — | | | |\n| Origination of mortgage loans held for sale | (1) | | | — | | | |\n| | | | | | | | |\n| Loss on extinguishment of debt | 1 | | | — | | | |\n| | | | | | | | |\n| Changes in operating assets and liabilities: | | | | | | | |\n| Escrow receivable | (6) | | | (14) | | | |\n| Real estate inventory | (221) | | | (212) | | | |\n| Other assets | 42 | | | (16) | | | |\n| Accounts payable and other accrued liabilities | (29) | | | 8 | | | |\n| Interest payable | 1 | | | — | | | |\n| Lease liabilities | — | | | (1) | | | |\n| Net cash used in operating activities | (246) | | | (279) | | | |\n| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | |\n| Purchase of property and equipment | (4) | | | (4) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | — | | | 6 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Net cash (used in) provided by investing activities | (4) | | | 2 | | | |\n| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from issuance of common stock for ESPP | 1 | | | 1 | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Proceeds from non-recourse asset-backed debt | 68 | | | 576 | | | |\n| Principal payments on non-recourse asset-backed debt | (53) | | | (362) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Payment of loan origination fees and debt issuance costs | — | | | (8) | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Net cash provided by financing activities | 16 | | | 207 | | | |\n| NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (234) | | | (70) | | | |\n| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period | 1,301 | | | 763 | | | |\n| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period | $ | 1,067 | | | $ | 693 | |\n| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $ | 20 | | | $ | 31 | |\n| DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| Stock-based compensation expense capitalized for internally developed software | $ | 1 | | | $ | 1 | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| | | | | | | | |\n| RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: | | | | | | | |\n| Cash and cash equivalents | $ | 999 | | | $ | 559 | 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The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b54"], "char_count": 1730, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f3cfb30b6551441a3bbe77bf58a22571ed60536ec7666584924c117fa1614884", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 54, "char_end": 1730, "char_start": 0, "fragment_sha256": "be052a30e7db53aabe2507012e4ccedc3a40b4a46a2942350d1a3f9148150b98", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit and Contribution Profit"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s18", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "To provide investors with additional information regarding our margins and return on inventory acquired, we have included Adjusted Gross Profit and Contribution Profit, which are non-GAAP financial measures. We believe that Adjusted Gross Profit and Contribution Profit are useful financial measures for investors as they are supplemental measures used by management in evaluating unit level economics and our operating performance. Each of these measures is intended to present the economics related to homes sold during a given period. We do so by including revenue generated from homes sold (and adjacent services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in inventory as of the end of the period. Contribution Profit provides investors a measure to assess Opendoor’s ability to generate returns on homes sold during a reporting period after considering home purchase costs, renovation and repair costs, holding costs and selling costs. Adjusted Gross Profit and Contribution Profit are supplemental measures of our operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b56"], "char_count": 966, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4d6022774af95a17dc18d15aa406e015335223e69ab92b2f6d95abe057dab923", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 56, "char_end": 966, "char_start": 0, "fragment_sha256": "62f3140fc23d7d69b87d6eceb6bd6e24d053b85b840902cc4a056be75d3eac42", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Gross Profit / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p29", "passage_kind": "narrative", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s19", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for (1) inventory valuation adjustment in the current period, and (2) inventory valuation adjustment in prior periods. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Adjusted Gross Margin is Adjusted Gross Profit as a percentage of revenue. We view this metric as an important measure of business performance as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess home pricing, service fees and renovation performance for a specific resale cohort."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b58"], "char_count": 789, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a595a4a1a9c94cb8b8a02997fcd776dc6ccba9df773b3e4ebbbc157c91b5e50c", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 58, "char_end": 789, "char_start": 0, "fragment_sha256": "b0b7ff26a1b12d279617a98418a173ab3a2f0197473fa59012622fe8e3bdb178", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s20", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "We calculate Contribution Profit as Adjusted Gross Profit, minus certain costs incurred on homes sold during the current period including: (1) holding costs incurred in the current period, (2) holding costs incurred in prior periods, and (3) direct selling costs. Contribution Margin is Contribution Profit as a percentage of revenue. Contribution Profit per Home Sold is calculated by dividing Contribution Profit by the number of homes sold in the period. We view these metrics as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess the revenues and certain costs directly attributable to a specific resale cohort."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b61", "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b62", "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b63"], "char_count": 262, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1a993c4a3eaa7970ba15341d033a4cefd409e70c50863249d87a2e8864081c79", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 61, "char_end": 49, "char_start": 0, "fragment_sha256": "395a21a03e186ca1839aa8dff22871752c006e55a2788d87e399882e6a8266e1", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 62, "char_end": 11, "char_start": 0, "fragment_sha256": "0417672dc31cc792cda6f9f98c166b641752fa3aa6bc0a5e7f172b28d5519f79", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 63, "char_end": 198, "char_start": 0, "fragment_sha256": "a0f6ae29659d90a33390f82e630c370861c4e68f01a915a1d115010bcea06190", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "(In millions, except percentages, and homes sold)\n\n(Unaudited)\n\nThe following table presents a reconciliation of our Adjusted Gross Profit and Contribution Profit to our gross profit, which is the most directly comparable GAAP measure, for the periods indicated:"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b64"], "char_count": 2532, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "532d6512e586d8e33efcb70051f3fe811324983cca9ffb6efcdb3afbe9b02485", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 64, "char_end": 2227, "char_start": 0, "fragment_sha256": "8b41508a9c318de99084800edb7faceb633347dcf9c55f8488e4459dae0f2e44", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": 7, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p32", "passage_kind": "table", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b64", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages and homes sold, or as noted) | | March 31, 2026 | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 720 | | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | | | |\n| Gross profit (GAAP) | | $ | 72 | | | $ | 57 | | | $ | 66 | | | $ | 128 | | | $ | 99 | | | | | |\n| Gross Margin | | 10.0 | % | | 7.7 | % | | 7.2 | % | | 8.2 | % | | 8.6 | % | | | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | |\n| Inventory valuation adjustment – Current Period(1)(2) | | 9 | | | 9 | | | 15 | | | 21 | | | 13 | | | | | | | | | | |\n| Inventory valuation adjustment – Prior Periods(1)(3) | | (14) | | | (21) | | | (17) | | | (14) | | | (12) | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Adjusted Gross Profit | | $ | 67 | | | $ | 45 | | | $ | 64 | | | $ | 135 | | | $ | 100 | | | | | |\n| Adjusted Gross Margin | | 9.3 | % | | 6.1 | % | | 7.0 | % | | 8.6 | % | | 8.7 | % | | | | | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | |\n| Direct selling costs(4) | | (23) | | | (23) | | | (28) | | | (43) | | | (29) | | | | | | | | | | |\n| Holding costs on sales – Current Period(5)(6) | | (3) | | | (4) | | | (4) | | | (6) | | | (5) | | | | | | | | | | |\n| Holding costs on sales – Prior Periods(5)(7) | | (9) | | | (11) | | | (12) | | | (17) | | | (12) | | | | | | | | | | |\n| Contribution Profit | | $ | 32 | | | $ | 7 | | | $ | 20 | | | $ | 69 | | | $ | 54 | | | | | |\n| Homes sold in period | | 1,921 | | | 1,978 | | | 2,568 | | | 4,299 | | | 2,946 | | | | | | | | | | |\n| Contribution Profit per Home Sold (in thousands) | | $ | 17 | | | $ | 4 | | | $ | 8 | | | $ | 16 | | | $ | 18 | | | | | |\n| Contribution Margin | | 4.4 | % | | 1.0 | % | | 2.2 | % | | 4.4 | % | | 4.7 | % | | | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b65", "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b66"], "char_count": 1270, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "48a71505fb2267f199d535b5cda056a9f0f01af01298822c93c8f723df78d304", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 65, "char_end": 16, "char_start": 0, "fragment_sha256": "f32497db0e534f3cac2134131e10d08e6e47abcc4f817b11288fab40531d3189", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 66, "char_end": 1252, "char_start": 0, "fragment_sha256": "49ef52c8befbd64367e825b3bdc3d37cf6dab86473bc1e2f47b4f95f80617b68", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Contribution Profit / Margin", "RECONCILIATION OF GAAP TO NON-GAAP MEASURES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s21", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "________________\n\n(1)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (2)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (3)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (4)Represents selling costs incurred related to homes sold in the relevant period. This primarily includes broker commissions, external title and escrow-related fees and transfer taxes. Selling costs are included in Sales, marketing and operations on the condensed consolidated statements of operations. (5)Holding costs primarily include property taxes, insurance, utilities, homeowners association dues and maintenance costs. Holding costs are included in Sales, marketing, and operations on the condensed consolidated statements of operations. (6)Represents holding costs incurred in the period presented on homes sold in the period presented. (7)Represents holding costs incurred in prior periods on homes sold in the period presented."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b68"], "char_count": 1547, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "30e3586e1712e96c1479714394b97d9b879cbd2828d27d768e91ef2ae245842e", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 68, "char_end": 1547, "char_start": 0, "fragment_sha256": "a1a8ccfd071c8de8eda06c6ff64659d7fadb79fec3b42f3c93f08264bb446d21", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss and Adjusted EBITDA"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s22", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "We also present Adjusted Net Loss and Adjusted EBITDA, which are non-GAAP financial measures that management uses to assess our underlying financial performance. These measures are also commonly used by investors and analysts to compare the underlying performance of companies in our industry. We believe these measures provide investors with meaningful period over period comparisons of our underlying performance, adjusted for certain charges that are non-cash, not directly related to our revenue-generating operations, not aligned to related revenue, or not reflective of ongoing operating results that vary in frequency and amount. Adjusted Net Loss and Adjusted EBITDA are supplemental measures of our operating performance and have important limitations. For example, these measures exclude the impact of certain costs required to be recorded under GAAP. These measures also include inventory valuation adjustments that were recorded in prior periods under GAAP and exclude, in connection with homes held in inventory at the end of the period, inventory valuation adjustments required to be recorded under GAAP in the same period. These measures could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of these measures to the most directly comparable GAAP financial measure, which is net loss."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b70"], "char_count": 1220, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fd8be4644ba8b3ed6c7e2be2ef7dd0c0766fc737d7146703e16abf2fb9bae385", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 70, "char_end": 1220, "char_start": 0, "fragment_sha256": "8fbf56f355f5d75c4b63c75e90454ae8f78209657f2c4737141c5f09f223429a", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted Net Loss"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p35", "passage_kind": "narrative", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s23", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "We calculate Adjusted Net Loss as GAAP net loss adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment and the amortization of stock-based compensation capitalized to internally developed software (“IDSW”). It excludes expenses that are not directly related to our revenue-generating operations such as restructuring and CEO make-whole provision. It also excludes loss (gain) on extinguishment of debt as these expenses or gains were incurred as a result of decisions made by management to terminate or partially extinguish portions of our outstanding credit facilities or convertible senior notes early; these expenses or gains are not reflective of ongoing operating results and vary in frequency and amount. Adjusted Net Loss also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded in order to improve the comparability of this measure to our non-GAAP financial measures of unit economics, as described above. Our calculation of Adjusted Net Loss does not currently include the tax effects of the non-GAAP adjustments because our taxes and such tax effects have not been material to date."} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b72"], "char_count": 598, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dfcdd3eb3c508d47aa6b0f99c68aa27a5d519764353000222958249f2ccea5c0", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "block_sequence": 72, "char_end": 598, "char_start": 0, "fragment_sha256": "be86067c82d7130ef9ef84b3f3cfd8254f2d781e91fad24e7d514b62fd4b394b", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s24", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "We calculated Adjusted EBITDA as Adjusted Net Loss adjusted for depreciation and amortization, property financing and other interest expense, interest income, and income tax expense. Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance and the operating leverage in our business. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. The following table presents a reconciliation of our Adjusted Net Loss and Adjusted EBITDA to our net loss, which is the most directly comparable GAAP measure, for the periods indicated:"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b73"], "char_count": 3629, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8ef648982d39998aede6bdcd6a2dc3c0a91b1ecc84d840d14d9fa2fb08e156eb", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": 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"norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b73", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | | Three Months Ended | | | | | | | | | | | | | | | | | | | | | | |\n| (in millions, except percentages) | | March 31, 2026 | | December 31, 2025 | | September 30, 2025 | | June 30, 2025 | | March 31, 2025 | | | | | | | | | | | | | | |\n| Revenue (GAAP) | | $ | 720 | | | $ | 736 | | | $ | 915 | | | $ | 1,567 | | | $ | 1,153 | | | | | |\n| Net loss (GAAP) | | $ | (173) | | | $ | (1,096) | | | $ | (90) | | | $ | (29) | | | $ | (85) | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | |\n| Stock-based compensation | | 15 | | | 16 | | | 13 | | | 13 | | | 14 | | | | | | | | | | |\n| Stock-based compensation for market condition RSUs | | 105 | | | 89 | | | 14 | | | — | | | — | | | | | | | | | | |\n| Equity securities fair value adjustment(1) | | — | | | — | | | — | | | — | | | 3 | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Amortization of stock-based compensation capitalized to IDSW | | 3 | | | 3 | | | 4 | | | 4 | | | 3 | | | | | | | | | | |\n| Inventory valuation adjustment – Current Period(2)(3) | | 9 | | | 9 | | | 15 | | | 21 | | | 13 | | | | | | | | | | |\n| Inventory valuation adjustment — Prior Periods(2)(4) | | (14) | | | (21) | | | (17) | | | (14) | | | (12) | | | | | | | | | | |\n| Restructuring(5) | | — | | | — | | | 1 | | | 6 | | | 3 | | | | | | | | | | |\n| CEO make-whole provision(6) | | 5 | | | 5 | | | — | | | — | | | — | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Loss (gain) on extinguishment of debt | | 1 | | | 933 | | | 1 | | | (10) | | | — | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| | | | | | | | | | | | | | | | | | | | | | | | | |\n| Other(7) | | — | | | — | | | (2) | | | — | | | (2) | | | | | | | | | | |\n| Adjusted Net Loss | | $ | (49) | | | $ | (62) | | | $ | (61) | | | $ | (9) | | | $ | (63) | | | | | |\n| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | |\n| Depreciation and amortization, excluding amortization of intangibles | | 5 | | | 5 | | | 5 | | | 5 | | | 5 | | | | | | | | | | |\n| Property financing(8) | | 19 | | | 21 | | | 23 | | | 29 | | | 29 | | | | | | | | | | |\n| Other interest expense(9) | | 4 | | | 7 | | | 11 | | | 7 | | | 4 | | | | | | | | | | |\n| Interest income(10) | | (10) | | | (13) | | | (12) | | | (9) | | | (5) | | | | | | | | | | |\n| Income tax expense | | — | | | (1) | | | 1 | | | — | | | — | | | | | | | | | | |\n| Adjusted EBITDA | | $ | (31) | | | $ | (43) | | | $ | (33) | | | $ | 23 | | | $ | (30) | | | | | |\n| Adjusted EBITDA Margin | | (4.3) | % | | (5.8) | % | | (3.6) | % | | 1.5 | % | | (2.6) | % | | | | | | | | | |"} +{"artifact_role": "ex99-01", "block_ids": ["norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b74", "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#b75"], "char_count": 2271, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "67091b343bccb6d39e25d83a34d6e14e675d1fddbabb6a4f1bfe886753043f3c", "derivation_id": "65cb3b9a22a9c4b6b418cd5fbe8da2900bee2fc6e4a3b65734d0b6de8e37915d", "document_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "document_type": "earnings_release", "exhibit_type": "EX-99.1", "filing_date": "2026-05-07", "filing_id": "sec:0001801169:0001801169-26-000013", "flags": [], "form": "8-K", "heading_path": ["EX-99.1", "Use of Non-GAAP Financial Measures", "Adjusted EBITDA / Margin"], "items": ["2.02", "7.01", "9.01"], "locators": [{"artifact_id": 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"section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-05-07", "section_id": "norm:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm#s24", "source_artifact_id": "sec:0001801169:0001801169-26-000013:q12026formxex991earningsre.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000013/q12026formxex991earningsre.htm", "table_id": null, "text": "________________\n\n(1)Represents the gains and losses on certain financial instruments, which are marked to fair value at the end of each period. (2)Inventory valuation adjustment includes adjustments to record real estate inventory at the lower of its carrying amount or its net realizable value. (3)Inventory valuation adjustment — Current Period is the inventory valuation adjustments recorded during the period presented associated with homes that remain in inventory at period end. (4)Inventory valuation adjustment — Prior Periods is the inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (5)Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees’ roles, consulting fees and expenses related to the termination of certain leases incurred during the restructuring process. (6)In connection with the appointment of the Company's new Chief Executive Officer in September 2025, the Company granted two make-whole awards related to compensation forfeited from his former employer. The awards consist of (i) a $15 million cash award and (ii) a restricted stock unit award with a grant date value of $15 million. Both awards vest nine months after his start date, contingent upon his continued service as Chief Executive Officer through the vesting date, and are expensed over the requisite service period. The CEO make-whole provision adjustment reflects only the expense associated with the cash make-whole award. The expense associated with the restricted stock unit make-whole award is included in the stock-based compensation line item presented separately in the reconciliation above. (7)Primarily includes related party services income. (8)Includes interest expense on our non-recourse asset-backed debt facilities. (9)Includes (i) amortization of debt issuance costs, loan origination fees, commitment fees, unused fees, and other interest-related costs on our asset-backed debt facilities, and (ii) amortization of debt issuance costs and debt discounts and interest expense related to our convertible senior notes. (10)Consists mainly of interest earned on cash, cash equivalents and restricted cash."} diff --git a/data/normalized/sec/0001801169/8-K/2026-06-12_0001801169-26-000016/norm_0001801169_0001801169-26-000016_open-20260611.htm.json b/data/normalized/sec/0001801169/8-K/2026-06-12_0001801169-26-000016/norm_0001801169_0001801169-26-000016_open-20260611.htm.json new file mode 100644 index 0000000000000000000000000000000000000000..7e550fd0577ce6fc4b42e9482a8d4f3f8b7c5e9e --- /dev/null +++ b/data/normalized/sec/0001801169/8-K/2026-06-12_0001801169-26-000016/norm_0001801169_0001801169-26-000016_open-20260611.htm.json @@ -0,0 +1,1383 @@ +{ + "acceptance_datetime": "2026-06-12T17:07:11.000Z", + "amends_accession": null, + "artifact_role": "primary", + "blocks": [ + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b0", + "block_sequence": 0, + "block_sha256": "7c099db665cb2172a33c5ecd26d8f19c0426645a2ee1136f26f99456e159e135", + "block_type": "heading", + "char_count": 13, + 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Emerging growth company \u2610 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b20", + "block_sequence": 20, + "block_sha256": "d67343becebe4f8540fe52b4a337f11871cf46307ea61e7d3f9f9742b6749e4d", + "block_type": "heading", + "char_count": 9, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 20, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "7d6c6f1635ab8d6422d8c3c9a557d46b2fbec8b8d4f90cc47a379efef5f5e88c", + "heading_path": [ + "N/A", + "Item 5.07" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s12", + "table": null, + "text": "Item 5.07" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b21", + "block_sequence": 21, + "block_sha256": "d550433ba63db76cd93e98b2890d0650936e0b5de52891094f5b0f5017b9eaf1", + "block_type": "heading", + "char_count": 52, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 21, + "char_end": 52, + "char_start": 0, + "fragment_sha256": "0c158bb2b957d7c66077b6e7d66e0d14d3ff56e5962bbf56744c5ae42fe72eee", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": null, + "text": "Submission of Matters to a Vote of Security Holders." + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b22", + "block_sequence": 22, + "block_sha256": "931b0936f6417edc7f191f77ef4389a030f35d2f0fda1dfc437e113546f24358", + "block_type": "paragraph", + "char_count": 1004, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 22, + "char_end": 1004, + "char_start": 0, + "fragment_sha256": "7bbd9c07a907714030fe13c86a80b6a95684bc2ad358158be6cf9578ce2a910e", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": null, + "text": "Opendoor Technologies Inc. (the \u201cCompany\u201d) held its 2026 Annual Meeting of Stockholders on June 11, 2026 (the \u201cMeeting\u201d). A total of 631,414,882 shares of the Company's common stock were present virtually or represented by proxy at the Meeting, representing approximately 65.45% of the Company\u2019s outstanding common stock as of April 16, 2026, the record date for the Meeting. The final voting results for the proposals considered and voted upon at the Meeting, all of which were described in the Company\u2019s definitive proxy statement filed with the Securities and Exchange Commission on April 28, 2026 are as follows: Proposal No. 1: The Company\u2019s stockholders elected each of David Benson, Eric Feder, and Eric Wu to hold office as Class III members of the board of directors and to serve a three-year term ending at the 2029 Annual Meeting of Stockholders, or until their successors are duly elected and qualified, subject to their earlier removal or resignation. The result of such vote was as follows:" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b23", + "block_sequence": 23, + "block_sha256": "4a71ad5f037776e3f97186dcb1f58bc8a5421f9b307965451d47ba30dd07c14e", + "block_type": "table", + "char_count": 235, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 23, + "char_end": 235, + "char_start": 0, + "fragment_sha256": "4c18d435b57d4296e2c24225831cd88ed04f0ac12748fd689d329425fe1e37a4", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": 3, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.95, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Nominees | | For | | Withhold | | Broker Non-Votes |\n| David Benson | | 376,193,698 | | 40,765,964 | | 214,455,220 |\n| Eric Feder | | 350,242,087 | | 66,717,575 | | 214,455,220 |\n| Eric Wu | | 405,074,546 | | 11,885,116 | | 214,455,220 |", + "n_cols": 7, + "n_rows": 4, + "plain_text": "Nominees | | For | | Withhold | | Broker Non-Votes\nDavid Benson | | 376,193,698 | | 40,765,964 | | 214,455,220\nEric Feder | | 350,242,087 | | 66,717,575 | | 214,455,220\nEric Wu | | 405,074,546 | | 11,885,116 | | 214,455,220", + "rows": [ + [ + "Nominees", + "", + "For", + "", + "Withhold", + "", + "Broker Non-Votes" + ], + [ + "David Benson", + "", + "376,193,698", + "", + "40,765,964", + "", + "214,455,220" + ], + [ + "Eric Feder", + "", + "350,242,087", + "", + "66,717,575", + "", + "214,455,220" + ], + [ + "Eric Wu", + "", + "405,074,546", + "", + "11,885,116", + "", + "214,455,220" + ] + ], + "table_index": 3, + "table_kind": "data" + }, + "text": "Nominees | | For | | Withhold | | Broker Non-Votes\nDavid Benson | | 376,193,698 | | 40,765,964 | | 214,455,220\nEric Feder | | 350,242,087 | | 66,717,575 | | 214,455,220\nEric Wu | | 405,074,546 | | 11,885,116 | | 214,455,220" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b24", + "block_sequence": 24, + "block_sha256": "5ee216a92c42603357519c2b4c743966bda68622b00a71cb01e8cb5609fac86f", + "block_type": "paragraph", + "char_count": 222, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 24, + "char_end": 222, + "char_start": 0, + "fragment_sha256": "31fd1175e5002bc7d362aa682534d42da0da88989771d9570b45dcdf5a442197", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": null, + "text": "Proposal No. 2: The Company\u2019s stockholders ratified Deloitte & Touche LLP as the Company\u2019s independent registered public accounting firm for the fiscal year ending December 31, 2026. The result of such vote was as follows:" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b25", + "block_sequence": 25, + "block_sha256": "41f8ef1d7995131bacba34536cbdd366636766fc8dc5d90a4fcb51259e8aa3d1", + "block_type": "table", + "char_count": 77, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 25, + "char_end": 77, + "char_start": 0, + "fragment_sha256": "3750b3fb4dd090f8fcf4dbeb1f6f1c3d8d49ad9823cedd50f352f666a5716857", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": 4, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.95, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| For | | Against | | Abstain | |\n| 623,434,325 | | 5,316,685 | | 2,663,872 | |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "For | | Against | | Abstain | \n623,434,325 | | 5,316,685 | | 2,663,872 | ", + "rows": [ + [ + "For", + "", + "Against", + "", + "Abstain", + "" + ], + [ + "623,434,325", + "", + "5,316,685", + "", + "2,663,872", + "" + ] + ], + "table_index": 4, + "table_kind": "data" + }, + "text": "For | | Against | | Abstain | \n623,434,325 | | 5,316,685 | | 2,663,872 | " + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b26", + "block_sequence": 26, + "block_sha256": "c316b32339eee212e41f1caf9edf98090c1bcf9ad84504334e95e9a8634f35cf", + "block_type": "paragraph", + "char_count": 188, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 26, + "char_end": 188, + "char_start": 0, + "fragment_sha256": "4048abc0e27552e1f98d6b85a83d52d2fcacd9e213b9c3d07debf715915d8cc4", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": null, + "text": "Proposal No. 3: The Company\u2019s stockholders approved, on an advisory (non-binding) basis, the compensation of the Company's named executive officers. The result of such vote was as follows:" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b27", + "block_sequence": 27, + "block_sha256": "c4c2457a7ce26bba24919903310dbaeb067023df44c66269383a930b046e2a04", + "block_type": "table", + "char_count": 112, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 27, + "char_end": 112, + "char_start": 0, + "fragment_sha256": "e9649006b5c870aaab7919bdb146c1881eb2831b48ed052788f81041de7b6d5d", + "heading_path": [ + "N/A", + "Item 5.07", + "Submission of Matters to a Vote of Security Holders." + ], + "table_index": 5, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.95, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| For | | Against | | Abstain | | Broker Non-Votes |\n| 243,135,496 | | 172,038,806 | | 1,785,360 | | 214,455,220 |", + "n_cols": 7, + "n_rows": 2, + "plain_text": "For | | Against | | Abstain | | Broker Non-Votes\n243,135,496 | | 172,038,806 | | 1,785,360 | | 214,455,220", + "rows": [ + [ + "For", + "", + "Against", + "", + "Abstain", + "", + "Broker Non-Votes" + ], + [ + "243,135,496", + "", + "172,038,806", + "", + "1,785,360", + "", + "214,455,220" + ] + ], + "table_index": 5, + "table_kind": "data" + }, + "text": "For | | Against | | Abstain | | Broker Non-Votes\n243,135,496 | | 172,038,806 | | 1,785,360 | | 214,455,220" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b28", + "block_sequence": 28, + "block_sha256": "d4735e3a265e16eee03f59718b9b5d03019c07d8b6c51f90da3a666eec13ab35", + "block_type": "heading", + "char_count": 1, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 28, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "a93b85236a0092e6f7d66a3e734d771b4c661a2de9844a9105bbd381f3e87186", + "heading_path": [ + "N/A", + "Item 5.07", + "2" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s14", + "table": null, + "text": "2" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b29", + "block_sequence": 29, + "block_sha256": "642e510766e16f8a11cf440c0658d263396e5791ed944157344e27a66c50fddf", + "block_type": "heading", + "char_count": 10, + "level": 1, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 29, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "71e5cc7b14adfe07347abb8efd4a0812c5390166a188e66b9f14bbb483d6bf84", + "heading_path": [ + "N/A", + "SIGNATURES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s15", + "table": null, + "text": "SIGNATURES" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b30", + "block_sequence": 30, + "block_sha256": "e1a9d0028c1982c801fae5415b765c0703913e741a9257cde75431a8a88a895d", + "block_type": "paragraph", + "char_count": 301, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 30, + "char_end": 301, + "char_start": 0, + "fragment_sha256": "5b6408cce95d9e16a0d978875a62444d26a2746778fdb3bc410e6419d717ecb1", + "heading_path": [ + "N/A", + "SIGNATURES" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s15", + "table": null, + "text": "Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Opendoor Technologies Inc. Date: June 12, 2026 By: /s/ Kaz Nejatian Name: Kaz Nejatian Title: Chief Executive Officer" + }, + { + "block_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b31", + "block_sequence": 31, + "block_sha256": "4e07408562bedb8b60ce05c1decfe3ad16b72230967de01f640b7e4729b49fce", + "block_type": "heading", + "char_count": 1, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", + "block_sequence": 31, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f1585810d9f0af789b51f7d76d525f2323c918e2f844cf15a6619436c29f1310", + "heading_path": [ + "N/A", + "SIGNATURES", + "3" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s16", + "table": null, + "text": "3" + } + ], + "cik": 1801169, + "cik10": "0001801169", + "company_name": "Opendoor Technologies Inc.", + "config_hash": "a8e88d258eb39664414697e0926a7d29600e676d9810ec79743c3c9490c9d4a1", + 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pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b17"], "char_count": 59, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "158f08935ab82af0bb7ed4dcc58e11bbcfe3077fe10f37c7dcad6525b90995a4", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": ["short_passage"], "form": "8-K", "heading_path": ["N/A"], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 17, "char_end": 59, "char_start": 0, "fragment_sha256": "454e0d4b059521349bebbfc4b2c552ade830d09f87512b60d2435424b4130eb7", "heading_path": ["N/A"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p5", "passage_kind": "narrative", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s11", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": null, "text": "Securities registered pursuant to Section 12(b) of the Act:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b18"], "char_count": 767, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7922e8ed6d4a185fb36c4a0e5f47c1bffadc511b223b3c24fec1eb7dacb33139", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": [], "form": "8-K", "heading_path": ["N/A"], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 18, "char_end": 698, "char_start": 0, "fragment_sha256": "7b01af211b1d01e24e2c62739342bf6fa651f60b295a741667261e544113b5aa", "heading_path": ["N/A"], "table_index": 2, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p6", "passage_kind": "table", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s11", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b18", "text": "| | | | | |\n| --- | --- | --- | --- | --- |\n| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |\n| Common stock, $0.0001 par value per share | | OPEN | | The Nasdaq Stock Market LLC |\n| Series K Warrants, each whole warrant exercisable to purchase one share of common stock at an exercise price of $9.00 per warrant | | OPENW | | The Nasdaq Stock Market LLC |\n| Series A Warrants, each whole warrant exercisable to purchase one share of common stock at an exercise price of $13.00 per warrant | | OPENL | | The Nasdaq Stock Market LLC |\n| Series Z Warrants, each whole warrant exercisable to purchase one share of common stock at an exercise price of $17.00 per warrant | | OPENZ | | The Nasdaq Stock Market LLC |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b19"], "char_count": 517, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1cedb6b0b4276528db71c05e6865869a2cddd8e2ffef4416adb0a98d741a2bd6", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": [], "form": "8-K", "heading_path": ["N/A"], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 19, "char_end": 517, "char_start": 0, "fragment_sha256": "4dc5e423be4210c23b7fe202d41a92b43fd2e274f9fc08ecb4c05f51f59ce913", "heading_path": ["N/A"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p7", "passage_kind": "narrative", "passage_sequence": 7, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s11", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": null, "text": "Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b22"], "char_count": 1004, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "931b0936f6417edc7f191f77ef4389a030f35d2f0fda1dfc437e113546f24358", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 22, "char_end": 1004, "char_start": 0, "fragment_sha256": "7bbd9c07a907714030fe13c86a80b6a95684bc2ad358158be6cf9578ce2a910e", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p8", "passage_kind": "narrative", "passage_sequence": 8, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": null, "text": "Opendoor Technologies Inc. (the “Company”) held its 2026 Annual Meeting of Stockholders on June 11, 2026 (the “Meeting”). A total of 631,414,882 shares of the Company's common stock were present virtually or represented by proxy at the Meeting, representing approximately 65.45% of the Company’s outstanding common stock as of April 16, 2026, the record date for the Meeting. The final voting results for the proposals considered and voted upon at the Meeting, all of which were described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 28, 2026 are as follows: Proposal No. 1: The Company’s stockholders elected each of David Benson, Eric Feder, and Eric Wu to hold office as Class III members of the board of directors and to serve a three-year term ending at the 2029 Annual Meeting of Stockholders, or until their successors are duly elected and qualified, subject to their earlier removal or resignation. The result of such vote was as follows:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b23"], "char_count": 318, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a7955054f4f485e788c4776b947b1b767d0d9f516b275c8848eefcdc197bf75f", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 23, "char_end": 235, "char_start": 0, "fragment_sha256": "4c18d435b57d4296e2c24225831cd88ed04f0ac12748fd689d329425fe1e37a4", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "table_index": 3, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p9", "passage_kind": "table", "passage_sequence": 9, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b23", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Nominees | | For | | Withhold | | Broker Non-Votes |\n| David Benson | | 376,193,698 | | 40,765,964 | | 214,455,220 |\n| Eric Feder | | 350,242,087 | | 66,717,575 | | 214,455,220 |\n| Eric Wu | | 405,074,546 | | 11,885,116 | | 214,455,220 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b24"], "char_count": 222, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5ee216a92c42603357519c2b4c743966bda68622b00a71cb01e8cb5609fac86f", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": [], "form": "8-K", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 24, "char_end": 222, "char_start": 0, "fragment_sha256": "31fd1175e5002bc7d362aa682534d42da0da88989771d9570b45dcdf5a442197", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p10", "passage_kind": "narrative", "passage_sequence": 10, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": null, "text": "Proposal No. 2: The Company’s stockholders ratified Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The result of such vote was as follows:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b25"], "char_count": 143, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "437f4cfc2c2868a16c2f080c0ec2d3ef8b1a38280a5f2ca4627b90bb95415db5", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": ["short_passage"], "form": "8-K", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 25, "char_end": 77, "char_start": 0, "fragment_sha256": "3750b3fb4dd090f8fcf4dbeb1f6f1c3d8d49ad9823cedd50f352f666a5716857", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "table_index": 4, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p11", "passage_kind": "table", "passage_sequence": 11, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b25", "text": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| For | | Against | | Abstain | |\n| 623,434,325 | | 5,316,685 | | 2,663,872 | |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b26"], "char_count": 188, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c316b32339eee212e41f1caf9edf98090c1bcf9ad84504334e95e9a8634f35cf", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": ["short_passage"], "form": "8-K", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 26, "char_end": 188, "char_start": 0, "fragment_sha256": "4048abc0e27552e1f98d6b85a83d52d2fcacd9e213b9c3d07debf715915d8cc4", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p12", "passage_kind": "narrative", "passage_sequence": 12, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": null, "text": "Proposal No. 3: The Company’s stockholders approved, on an advisory (non-binding) basis, the compensation of the Company's named executive officers. The result of such vote was as follows:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b27"], "char_count": 187, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "515a69e2dd56bd39a7122c5f8a821da76f10d8ea5ae3208c8cbd1475a31ee519", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": ["short_passage"], "form": "8-K", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 27, "char_end": 112, "char_start": 0, "fragment_sha256": "e9649006b5c870aaab7919bdb146c1881eb2831b48ed052788f81041de7b6d5d", "heading_path": ["N/A", "Item 5.07", "Submission of Matters to a Vote of Security Holders."], "table_index": 5, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p13", "passage_kind": "table", "passage_sequence": 13, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s13", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#b27", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| For | | Against | | Abstain | | Broker Non-Votes |\n| 243,135,496 | | 172,038,806 | | 1,785,360 | | 214,455,220 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001801169-26-000016:open-20260611.htm#b30"], "char_count": 301, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e1a9d0028c1982c801fae5415b765c0703913e741a9257cde75431a8a88a895d", "derivation_id": "b64a25f7ece84af993f5725fce06859dcb06e38131d2cf6d9fb66446e65dbe40", "document_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm", "document_type": "narrative_primary", "exhibit_type": "8-K", "filing_date": "2026-06-12", "filing_id": "sec:0001801169:0001801169-26-000016", "flags": [], "form": "8-K", "heading_path": ["N/A", "SIGNATURES"], "items": ["5.07"], "locators": [{"artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "block_sequence": 30, "char_end": 301, "char_start": 0, "fragment_sha256": "5b6408cce95d9e16a0d978875a62444d26a2746778fdb3bc410e6419d717ecb1", "heading_path": ["N/A", "SIGNATURES"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#p14", "passage_kind": "narrative", "passage_sequence": 14, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2026-06-11", "section_id": "norm:0001801169:0001801169-26-000016:open-20260611.htm#s15", "source_artifact_id": "sec:0001801169:0001801169-26-000016:open-20260611.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000180116926000016/open-20260611.htm", "table_id": null, "text": "Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Opendoor Technologies Inc. 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none - 6.7500359s TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 \u200b SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 \u200b Filed by the Registrant \u2612 \u200b Filed by a Party other than the Registrant \u2610 \u200b Check the appropriate box: \u2610 Preliminary Proxy Statement \u200b \u2610 Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) \u200b \u2612 Definitive Proxy Statement \u200b \u2610 Definitive Additional Materials \u200b \u2610 Soliciting Material Pursuant to \u00a7240.14a-12 \u200b Opendoor Technologies Inc. (Name of Registrant as Specified In Its Charter) \u200b (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): \u2612 No fee required. \u200b \u2610 Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. \u200b (1) Title of each class of securities to which transaction applies: \u200b \u200b (2) Aggregate number of securities to which transaction applies: \u200b \u200b (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): \u200b \u200b (4) Proposed maximum aggregate value of transaction: \u200b \u200b (5) Total fee paid: \u200b \u200b \u2610 Fee paid previously with preliminary materials. \u200b \u2610 Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. \u200b (1) Amount Previously Paid: \u200b \u200b (2) Form, Schedule or Registration Statement No.: \u200b \u200b (3) Filing Party: \u200b \u200b (4) Date Filed: \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b5", + "block_sequence": 5, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 5, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s2", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b6", + "block_sequence": 6, + "block_sha256": "c469fa0b8cc6e824b654498e3d9811134f7aacb722b115cf7cc51eaf5310c670", + "block_type": "paragraph", + "char_count": 1728, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 6, + "char_end": 1728, + "char_start": 0, + "fragment_sha256": "7b84aef4a437d5ef1f91bf76d244c6e64209675827845823786591fcab9cd340", + "heading_path": [ + "DEF 14A" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s2", + "table": null, + "text": "Dear Opendoor Stockholder: I am pleased to invite you to the Annual Meeting of Stockholders of Opendoor Technologies Inc., which will be held on Thursday, June 17, 2021, at 9:00 a.m. Pacific Time. The annual meeting will be a completely virtual meeting conducted via live webcast. You will be able to attend the annual meeting online and submit your questions during the meeting by visiting www.viewproxy.com/opendoor/2021/vm and entering your password. For further information on how to participate in the meeting, please see \u201cGeneral Information About Voting and the Annual Meeting\u201d in the accompanying proxy statement. We are pleased to make our Annual Report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission\u2019s Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the annual meeting regardless of whether you plan to attend electronically. The accompanying proxy statement contains information about the matters on which you are asked to vote as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors. Thank you for your investment in Opendoor. We appreciate your support. Sincerely," + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b7", + "block_sequence": 7, + "block_sha256": "4b638d384bf081130454f1abd5e01f553aff5be0722f961851496607757b69cc", + "block_type": "paragraph", + "char_count": 72, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 7, + "char_end": 72, + "char_start": 0, + "fragment_sha256": "dbf793a062ab0d10df307f9b1d754223677aa315ecb744d94142b77f85a73200", + "heading_path": [ + "DEF 14A" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s2", + "table": null, + "text": "Eric Wu Chairman of the Board and Chief Executive Officer April 30, 2021" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b8", + "block_sequence": 8, + "block_sha256": "2043634619f1883be33054563fb2b4ba6db8bed2ee6328055f9ee441b9028e0a", + "block_type": "page_header", + "char_count": 18, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 8, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "fefd15109d1aac2604dc82ab3a002f495251a84e6af8a6f99b7ba917ff91bdbd", + "heading_path": [ + "DEF 14A" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s2", + "table": null, + "text": "TABLE OF CONTENTS\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b9", + "block_sequence": 9, + "block_sha256": "b69a78c19d04e0376b0e52536479532ca9bf876da9db50e56c77bc30c98f667b", + "block_type": "heading", + "char_count": 82, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 9, + "char_end": 82, + "char_start": 0, + "fragment_sha256": "6aa22df4f2c50e263e77bc56a3509e0dd2973819d73bf8873388c3e1248c6ed0", + "heading_path": [ + "DEF 14A", + "OPENDOOR TECHNOLOGIES INC. 410 N. 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Scottsdale Road, Suite 1600 Tempe, Arizona 85281", + "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", + "2021 Annual Meeting Information" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s5", + "table": null, + "text": "To Our Stockholders: NOTICE IS HEREBY GIVEN that the 2021 Annual Meeting of Stockholders of Opendoor Technologies Inc. (the \u201cAnnual Meeting\u201d) will be held on Thursday, June 17, 2021, at 9:00 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.viewproxy.com/opendoor/2021/vm and entering your virtual control number included in your Notice of Internet Availability of Proxy Materials, proxy card, or on the instructions that accompanied your proxy materials. At the Annual Meeting, stockholders will consider and vote on the following matters:" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b14", + "block_sequence": 14, + "block_sha256": "419363c7ef393075774f4c92c2929c27e0c5d7451cbf8d2bac6cb150b884e5d1", + "block_type": "table", + "char_count": 682, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 14, + "char_end": 682, + "char_start": 0, + "fragment_sha256": "8f24d4fed7a4632f6c4be02ddc5d92018a0f26cff84aa1f6e12b510d346ae74c", + "heading_path": [ + "DEF 14A", + "OPENDOOR TECHNOLOGIES INC. 410 N. 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Scottsdale Road, Suite 1600 Tempe, Arizona 85281", + "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", + "2021 Annual Meeting Information" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s5", + "table": null, + "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment thereof. Stockholders of record at the close of business on Tuesday, April 20, 2021, are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of such stockholders will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the meeting by sending an email to Elizabeth Stevens, Head of Legal and Secretary, at ODInvestor@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will be available on the bottom panel of your screen during the meeting after entering the virtual control number included on the Notice of Internet Availability of Proxy Materials or any proxy card that you received, or on the materials provided by your bank or broker. Your vote is important regardless of the number of shares you own. To ensure that a quorum is present at the Annual Meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the Annual Meeting. Note that, in light of possible disruptions in mail service related to the COVID-19 pandemic, we encourage stockholders to submit their proxy via telephone or online. If you decide to attend the Annual Meeting, you will be able to vote electronically, even if you have previously submitted your proxy. By Order of the Board of Directors," + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b16", + "block_sequence": 16, + "block_sha256": "ac4df41de701a41e1820817da3f5894d289cbb69a222dbe63dfe790362459a16", + "block_type": "paragraph", + "char_count": 60, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 16, + "char_end": 60, + "char_start": 0, + "fragment_sha256": "a391b74a8a7b470c164e7747ae9ba182c158508c7b2a997305a66d58556276e3", + "heading_path": [ + "DEF 14A", + "OPENDOOR TECHNOLOGIES INC. 410 N. 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II (\u201cSCH\u201d) on September 15, 2020. SCH was initially formed on October 18, 2019 as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Under the Merger Agreement, Hestia Merger Sub Inc., a newly formed subsidiary of SCH (\u201cMerger Sub\u201d), merged with Opendoor Labs Inc. On December 18, 2020, the separate corporate existence of Merger Sub ceased. Opendoor Labs Inc. survived the merger as a wholly owned subsidiary of SCH. On December 18, 2020, SCH deregistered as a Cayman Islands exempted company and domesticated as a Delaware corporation, changing its name from \u201cSocial Capital Hedosophia Holdings Corp. II\u201d to \u201cOpendoor Technologies Inc.\u201d We refer to these transactions collectively as the \u201cBusiness Combination.\u201d In this proxy statement, unless the context requires otherwise, references to \u201cOpendoor,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus,\u201d and \u201cour,\u201d and similar references refer to Opendoor Technologies Inc. and its wholly owned subsidiaries following the Business Combination and to Opendoor Labs Inc. prior to the Business Combination." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b24", + "block_sequence": 24, + "block_sha256": "834cfc1ee23734e11629683a6ce15a78eace851dc70e92febec6ae8288b0206a", + "block_type": "heading", + "char_count": 9, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 24, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "e45479bf8f8cdc50b4517a63c7496ff3a5d79f476486c2f57a5a7ac720b730fa", + "heading_path": [ + "DEF 14A", + "Proposals" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s9", + "table": null, + "text": "Proposals" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b25", + "block_sequence": 25, + "block_sha256": "a355bd088856eb6889f8bfd007ead9adddc63af4e6f0e4136dcac537479ed047", + "block_type": "paragraph", + "char_count": 365, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 25, + "char_end": 365, + "char_start": 0, + "fragment_sha256": "9f77d1d61062fe2d6d015e84fb0615266a204eb8191c34db01360dc16035e999", + "heading_path": [ + "DEF 14A", + "Proposals" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s9", + "table": null, + "text": "This section summarizes and highlights certain information contained in this proxy statement, but does not contain all the information that you should consider when casting your vote. Please review the entire proxy statement as well as our annual report to stockholders for the fiscal year ended December 31, 2020 (the \u201c2020 Annual Report\u201d) carefully before voting." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b26", + "block_sequence": 26, + "block_sha256": "a9d7c6a7447834918f61744f356fa572aaccb82dabf989aaf290220989dff4cb", + "block_type": "image", + "char_count": 365, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 26, + "char_end": 365, + "char_start": 0, + "fragment_sha256": "4bbc3f4445cd5cbba10fa99cd402985121d3de1a984ac80d96201c59d920fa98", + "heading_path": [ + "DEF 14A", + "Proposals" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s9", + "table": null, + "text": "\u200b \u200b Proposal 1 \u200b \u200b \u200b Board Recommendation and Page No. \u200b \u200b \u200b \u200b Election of three Class I Directors for a three-year term ending at the 2024 Annual Meeting of Stockholders \u200b \u200b \u200b \u200b \u200b The Board recommends a vote \u201cFOR\u201d Cipora Herman, Jonathan Jaffe and Glenn Solomon. \u200b \u200b \u200b \u200b \u200b See \u201cProposal One \u2014 Election of Directors\u201d beginning on page 5 of this proxy statement. \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b27", + "block_sequence": 27, + "block_sha256": "5632112e241ff4424153aa34ca8e2923efebcb96ba34eb463c57245ff2c02f75", + "block_type": "heading", + "char_count": 9, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 27, + "char_end": 9, + "char_start": 0, + "fragment_sha256": "a8203cd65cd00f68bd10b1c894af92a3b447f07ac9a1b991dd52e6517aba9038", + "heading_path": [ + "DEF 14A", + "Directors" + ], + "table_index": null, + 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In order to participate in the Annual Meeting live via the Internet, you must register at www.viewproxy.com/opendoor/2021 by 11:59 p.m. Pacific Time on June 16, 2021. If you are a registered holder, you must register using the virtual control number included on your Notice of Internet Availability of Proxy Materials or your proxy card (if you received a printed copy of the proxy materials). If you hold your shares beneficially through a bank or broker, you must provide a legal proxy from your bank or broker during registration and you will be assigned a virtual control number in order to vote your shares during the Annual Meeting. If you are unable to obtain a legal proxy, you will still be able to attend the Annual Meeting (but will not be able to vote your shares) so long as you demonstrate proof of stock ownership. Instructions on how to connect and participate via the Internet, including how to demonstrate proof of stock ownership, are posted at www.viewproxy.com/opendoor/2021. 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On that date, 577,373,400 shares of our common stock were issued and outstanding and entitled to vote at the Annual Meeting. Each share of common stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. Notice of Internet Availability of Proxy Materials. As permitted by the Securities and Exchange Commission (the \u201cSEC\u201d) rules, Opendoor is making this proxy statement and its 2020 Annual Report available to its stockholders electronically via the Internet. On or about April 30, 2021, we mailed to our stockholders a Notice of Internet Availability of Proxy Materials (the \u201cInternet Notice\u201d) containing instructions on how to access this proxy statement and our 2020 Annual Report and vote online. If you received an Internet Notice by mail, you will not receive a printed copy of the proxy materials in the mail unless you specifically request them. Instead, the Internet Notice instructs you on how to access and review all of the important information contained in the proxy statement and 2020 Annual Report. The Internet Notice also instructs you on how you may submit your proxy over the Internet. If you received an Internet Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials contained on the Internet Notice. Printed Copies of Our Proxy Materials. If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b73", + "block_sequence": 73, + "block_sha256": "6b86b273ff34fce19d6b804eff5a3f5747ada4eaa22f1d49c01e52ddb7875b4b", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 73, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "1442bc97680f2305e2f1ed3b26fe51ae966789d8a0be82fb6dbf530fe244a060", + "heading_path": [ + "DEF 14A", + "Opendoor\u2019s Voting Securities" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s26", + "table": null, + "text": "1" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b74", + "block_sequence": 74, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 74, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Opendoor\u2019s Voting Securities" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s26", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b75", + "block_sequence": 75, + "block_sha256": "63486041a7cd962ef05fdf4ff9fdf8e08d6f9e7bf351b85a6bba393de125ec6b", + "block_type": "heading", + "char_count": 18, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 75, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "6e93cee94af12910617f981b2c089faea566278796add9d3c5470c4763addc4b", + "heading_path": [ + "DEF 14A", + "Voting Your Shares" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s27", + "table": null, + "text": "Voting Your Shares" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b76", + "block_sequence": 76, + "block_sha256": "211c671fd9452333e3fb69170a4e040f17f099c60c3c29d383bba5f270959122", + "block_type": "paragraph", + "char_count": 218, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 76, + "char_end": 218, + "char_start": 0, + "fragment_sha256": "185305bf3dddd4f2180ad703a69777a5f9975f45e2388e5b4f08f3a17c2cd93a", + "heading_path": [ + "DEF 14A", + "Voting Your Shares" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s27", + "table": null, + "text": "If you are the record holder of your shares, you may vote in one of four ways. You may vote by submitting your proxy over the Internet, by telephone, or by mail or you may vote electronically during the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b77", + "block_sequence": 77, + "block_sha256": "d2a929b637163848c4a2f27c1276aff000ea886625a09857b24503a5002b200d", + "block_type": "image", + "char_count": 681, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 77, + "char_end": 681, + "char_start": 0, + "fragment_sha256": "5a0b347e78212a63da8999640c99f172dc7316ee79ca49f8eb3a184c419f6a4f", + "heading_path": [ + "DEF 14A", + "Voting Your Shares" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s27", + "table": null, + "text": "\u200b \u200b By Internet \u200b \u200b \u200b \u200b By Telephone \u200b \u200b \u200b \u200b By Mail \u200b \u200b During the Meeting \u200b You may vote your shares from any location in the world at www.FCRvote.com/OPEN (you will need your virtual control number) \u200b \u200b You may vote your shares by calling 1-866-402-3905 and following the instructions on the proxy card. \u200b \u200b If you received a proxy card by mail, you may vote by completing, dating and signing the proxy card. \u200b \u200b If you wish to vote your shares electronically at the Annual Meeting, you will need to visit www.FCRvote.com/OPEN during the Annual Meeting while the polls are open (you will need the virtual control number assigned to you in your registration confirmation email) \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b78", + "block_sequence": 78, + "block_sha256": "a436954f69eb0bee612e3c01a5164a87cbe97d157b8a0cc027958fd3526d4576", + "block_type": "paragraph", + "char_count": 599, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 78, + "char_end": 599, + "char_start": 0, + "fragment_sha256": "14dcf5f3b40df95ac8bdd1aca8e4cd1742f49cbff0dbdb1c314fb43772e762e0", + "heading_path": [ + "DEF 14A", + "Voting Your Shares" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s27", + "table": null, + "text": "Internet and telephone voting facilities for stockholders of record will be available 24 hours a day and will close at 8:59 p.m. Pacific Time on June 16, 2021. Note that, in light of possible disruptions in mail service related to the COVID-19 pandemic, we encourage stockholders to submit their proxy via telephone or online. If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in \u201cstreet name\u201d), you should contact your bank or broker to obtain your virtual control number or otherwise vote through the bank or broker." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b79", + "block_sequence": 79, + "block_sha256": "3d21cc165bf7a5ca08213ec7be2a934502be5b4f95c757676f11ae0cab630e14", + "block_type": "heading", + "char_count": 35, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 79, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "78aa1454e331a8cd25c894fd9e67d9ad412de630dc4da3af07313a0e1027cb1f", + "heading_path": [ + "DEF 14A", + "Attending the Annual Meeting Online" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s28", + "table": null, + "text": "Attending the Annual Meeting Online" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b80", + "block_sequence": 80, + "block_sha256": "69f853f4a942c06bd049871f01cc398c84ef2fdfc964b1ef025f0897218c6fae", + "block_type": "paragraph", + "char_count": 1741, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 80, + "char_end": 1741, + "char_start": 0, + "fragment_sha256": "6434702b897e1855a66a449a4c508835465207f177c3fb35ab720eaeb23f7eb8", + "heading_path": [ + "DEF 14A", + "Attending the Annual Meeting Online" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s28", + "table": null, + "text": "Due to the public health impact of the COVID-19 pandemic and to support the health and well-being of our stockholders, this year\u2019s Annual Meeting will be held in a virtual meeting format only. The Annual Meeting will convene at 9:00 a.m. Pacific Time on June 17, 2021. In order to participate in the Annual Meeting live via the Internet, you must register at www.viewproxy.com/opendoor/2021 by 11:59 p.m. Pacific Time on June 16, 2021. If you are a registered holder, you must register using the virtual control number included on your Notice of Internet Availability of Proxy Materials or your proxy card (if you received a printed copy of the proxy materials). If you hold your shares beneficially through a bank or broker, you must provide a legal proxy from your bank or broker during registration and you will be assigned a virtual control number in order to vote your shares during the Annual Meeting. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting (but will not be able to vote your shares) so long as you demonstrate proof of stock ownership. Instructions on how to connect and participate via the Internet, including how to demonstrate proof of stock ownership, are posted at www.viewproxy.com/opendoor/2021. On the day of the Annual Meeting, if you have properly registered, you may enter the Annual Meeting by logging in using the password you received via email in your registration confirmation at www.viewproxy.com/opendoor/2021/vm. 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Please be sure to check in by 8:30 a.m. Pacific Time on June 17, 2021, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please email VirtualMeeting@viewproxy.com or call 1-866-612-8937. 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The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or over the Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted in accordance with the Board\u2019s recommendations as follows:" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b108", + "block_sequence": 108, + "block_sha256": "da22d9a8bde6d6e92619cb917a2e065d4b549e917dd1b7b81d34ebc9a0744fd8", + "block_type": "image", + "char_count": 595, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 108, + "char_end": 595, + "char_start": 0, + "fragment_sha256": "f2ab214925ef6215ab570f2bc6bba4d7b51db15724aeae5d1411f30c9be16efb", + "heading_path": [ + "DEF 14A", + "Recommendations of the Board" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s31", + "table": null, + "text": "\u200b \u200b \u200b \u201cFOR\u201d the election of Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I directors; \u200b \u200b \u200b \u200b \u201cFOR\u201d the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm; \u200b \u200b \u200b \u200b \u201cFOR\u201d the approval, on an advisory (non-binding) basis, of the compensation of our named executive officers; \u200b \u200b \u200b \u200b \u201cONE YEAR\u201d for the frequency of future advisory votes on the compensation of our named executive officers; and \u200b \u200b \u200b \u200b In the discretion of the persons appointed as proxies on any other items that may properly come before the Annual Meeting. \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b109", + "block_sequence": 109, + "block_sha256": "b8136bf6c986be1ea65bb26fb1d8f77c2aceb7d8fa30fadc5befd2567d4d5054", + "block_type": "heading", + "char_count": 16, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 109, + "char_end": 16, + "char_start": 0, + "fragment_sha256": "95ade458735718365284bd2b7d683894525eb2e45599d5a7552a2fa574cf1f59", + "heading_path": [ + "DEF 14A", + "Broker Non-Votes" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s32", + "table": null, + "text": "Broker Non-Votes" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b110", + "block_sequence": 110, + "block_sha256": "1cf524260094ab3048bfd213445cb104ed65082ab1c26b4c1d8d14695456c3ca", + "block_type": "paragraph", + "char_count": 1045, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 110, + "char_end": 1045, + "char_start": 0, + "fragment_sha256": "78217b09e7c9372ce73b8c088ffee28c072f09fbe00dc2cbd26f8d2761d53ff1", + "heading_path": [ + "DEF 14A", + "Broker Non-Votes" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s32", + "table": null, + "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. 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Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Elizabeth Stevens, Secretary. If the shares you own are held in street name, you will need to follow the directions provided to you by your bank or brokerage firm to change your vote." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b122", + "block_sequence": 122, + "block_sha256": "a53e897d7442f640a8a6da68897357b914b764b795ecb58b2e2b1c64a6c57f46", + "block_type": "heading", + "char_count": 25, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 122, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "592085a921dfe75c6c847b09e331901f0c3acebd6934db1712758ca8cb97e53b", + "heading_path": [ + "DEF 14A", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", + "table": null, + "text": "Quorum and Votes Required" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b123", + "block_sequence": 123, + "block_sha256": "9559ad79581b7113d13b652e5ae3fad619c4b378ae9375b41eba28e7d3004eb2", + "block_type": "paragraph", + "char_count": 636, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 123, + "char_end": 636, + "char_start": 0, + "fragment_sha256": "2e00c457e1caf9d30c51d5c6f9187d3000676fa6b3e3db4d3b2509b4bc881c79", + "heading_path": [ + "DEF 14A", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", + "table": null, + "text": "The presence electronically or representation by proxy of a majority in voting power of the shares of common stock of the Company entitled to vote at the Annual Meeting is necessary to establish a quorum. Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained. The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of abstentions and broker non-votes." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b124", + "block_sequence": 124, + "block_sha256": "a521aa36b4191a359ea20c9a2b99a33c07a46a1126016612934a2eb53384bf81", + "block_type": "table", + "char_count": 1458, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 124, + "char_end": 1458, + "char_start": 0, + "fragment_sha256": "0b29c1aa170fcfeb55fd5ade962f8ce5cbb77b5c052688b3f74ea83f5db8efb9", + "heading_path": [ + "DEF 14A", + "Quorum and Votes Required" + ], + "table_index": 5, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| \u200b | Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/\u200b Abstentions and Broker Non-Votes | \u200b |\n| \u200b | Proposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative \u201cFOR\u201d votes will be elected as Class I Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect. | \u200b |\n| \u200b | Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal. | \u200b |\n| \u200b | Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. | \u200b |\n| \u200b | Proposal 4: Approval, on an Advisory (Non-Binding) Basis, of the Frequency of Future Say-on-Pay Votes | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. If no frequency receives the foregoing vote, we will consider the frequency (ONE YEAR, TWO YEARS or THREE YEARS) t\u2026 | \u200b | \u200b | Abstentions and broker non-votes will have no effect. | \u200b |", + "n_cols": 9, + "n_rows": 5, + "plain_text": "\u200b | Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/\u200b Abstentions and Broker Non-Votes | \u200b\n\u200b | Proposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative \u201cFOR\u201d votes will be elected as Class I Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect. | \u200b\n\u200b | Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal. | \u200b\n\u200b | Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. | \u200b\n\u200b | Proposal 4: Approval, on an Advisory (Non-Binding) Basis, of the Frequency of Future Say-on-Pay Votes | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. If no frequency receives the foregoing vote, we will consider the frequency (ONE YEAR, TWO YEARS or THREE YEARS) that receives the highest number of votes cast to be the frequency recommended by shareholders. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. | \u200b", + "rows": [ + [ + "\u200b", + "Proposal", + "\u200b", + "\u200b", + "Votes Required", + "\u200b", + "\u200b", + "Effect of Votes Withheld/\u200b Abstentions and Broker Non-Votes", + "\u200b" + ], + [ + "\u200b", + "Proposal 1: Election of Directors", + "\u200b", + "\u200b", + "The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative \u201cFOR\u201d votes will be elected as Class I Directors.", + "\u200b", + "\u200b", + "Votes withheld and broker non-votes will have no effect.", + "\u200b" + ], + [ + "\u200b", + "Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm", + "\u200b", + "\u200b", + "The affirmative vote of the holders of a majority in voting power of the votes cast.", + "\u200b", + "\u200b", + "Abstentions will have no effect. We do not expect any broker non-votes on this proposal.", + "\u200b" + ], + [ + "\u200b", + "Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d)", + "\u200b", + "\u200b", + "The affirmative vote of the holders of a majority in voting power of the votes cast.", + "\u200b", + "\u200b", + "Abstentions and broker non-votes will have no effect.", + "\u200b" + ], + [ + "\u200b", + "Proposal 4: Approval, on an Advisory (Non-Binding) Basis, of the Frequency of Future Say-on-Pay Votes", + "\u200b", + "\u200b", + "The affirmative vote of the holders of a majority in voting power of the votes cast. If no frequency receives the foregoing vote, we will consider the frequency (ONE YEAR, TWO YEARS or THREE YEARS) that receives the highest number of votes cast to be the frequency recommended by shareholders.", + "\u200b", + "\u200b", + "Abstentions and broker non-votes will have no effect.", + "\u200b" + ] + ], + "table_index": 5, + "table_kind": "data" + }, + "text": "\u200b | Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/\u200b Abstentions and Broker Non-Votes | \u200b\n\u200b | Proposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative \u201cFOR\u201d votes will be elected as Class I Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect. | \u200b\n\u200b | Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal. | \u200b\n\u200b | Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. | \u200b\n\u200b | Proposal 4: Approval, on an Advisory (Non-Binding) Basis, of the Frequency of Future Say-on-Pay Votes | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. If no frequency receives the foregoing vote, we will consider the frequency (ONE YEAR, TWO YEARS or THREE YEARS) that receives the highest number of votes cast to be the frequency recommended by shareholders. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b125", + "block_sequence": 125, + "block_sha256": "1cfdcc183c94eeb3521c70945403fddd193bc4a256827e6b3a8d6a073e3e87c3", + "block_type": "paragraph", + "char_count": 362, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 125, + "char_end": 362, + "char_start": 0, + "fragment_sha256": "5147f69f32c011fb213654ae93a0a737dd610fb30e6bf92c4b08a8213f0ea75d", + "heading_path": [ + "DEF 14A", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", + "table": null, + "text": "The votes will be counted, tabulated and certified by a representative of Alliance Advisors, the Company\u2019s inspector of election for the Annual Meeting. We plan to announce preliminary voting results at the Annual Meeting and we will report the final results in a Current Report on Form 8-K, which we intend to file with the SEC shortly after the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b126", + "block_sequence": 126, + "block_sha256": "4b227777d4dd1fc61c6f884f48641d02b4d121d3fd328cb08b5531fcacdabf8a", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 126, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "9fc2a08685b3a1707997c7ccf711703b2976d4dc67d137cdb4cbba47ed9f8b2a", + "heading_path": [ + "DEF 14A", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", + "table": null, + "text": "4" + }, + { + "block_id": 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+ "fragment_sha256": "c8ec775a52b9c8041d22e392d5e629c293392942e72bc2647fb79779f0ab9180", + "heading_path": [ + "DEF 14A", + "Quorum and Votes Required", + "PROPOSAL ONE \u2014 ELECTION OF DIRECTORS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s35", + "table": null, + "text": "The Board has nominated Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I director nominees for election at the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b130", + "block_sequence": 130, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 130, + "char_end": 20, + "char_start": 0, + "fragment_sha256": 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", + "table": null, + "text": "\u200b \u200b \u200b \u200b Our Board unanimously recommends that you vote \u201cFOR\u201d the election of each of Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I directors. \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b132", + "block_sequence": 132, + "block_sha256": "4edd7b839acf3db895ca247797cc27fdd1f36083f292919e806e45b73e868bda", + "block_type": "paragraph", + "char_count": 599, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 132, + "char_end": 599, + "char_start": 0, + "fragment_sha256": "b5c9ed0486b8a4f49ff4cf5e9424fb4f9f0823963bccbdd12a17e1d57fdb3e97", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", + "table": null, + "text": "Our Board is currently comprised of eight directors. As described in our Certificate of Incorporation (\u201cCertificate of Incorporation\u201d) our Board is currently divided into three classes. The term of our Class I directors expires at this Annual Meeting, the term of our Class II directors expires at the annual meeting of stockholders in 2022 and the term of our Class III directors expires at the annual meeting of stockholders in 2023. The following table describes the schedule for the election of our directors over the next three annual meetings and the terms our directors will serve if elected." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b133", + "block_sequence": 133, + "block_sha256": "0890e6794f58476d2033926c3388d10c7df61ef6eea7829072abe0cdc5632aa9", + "block_type": "table", + "char_count": 396, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 133, + "char_end": 396, + "char_start": 0, + "fragment_sha256": "87a8dd7fa4548dca1e28b79a55afcdd9cb9699fc0b36476d3b816e5f8e713bf6", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": 6, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| \u200b | Meeting | \u200b | \u200b | Class of Directors Standing for Election | \u200b | \u200b | Term | \u200b |\n| \u200b | 2021 Annual Meeting | \u200b | \u200b | Class I | \u200b | \u200b | Three-year term expiring at 2024 Annual Meeting | \u200b |\n| \u200b | 2022 Annual Meeting | \u200b | \u200b | Class II | \u200b | \u200b | Three-year term expiring at 2025 Annual Meeting | \u200b |\n| \u200b | 2023 Annual Meeting | \u200b | \u200b | Class III | \u200b | \u200b | Three-year term expiring at 2026 Annual Meeting | \u200b |", + "n_cols": 9, + "n_rows": 4, + "plain_text": "\u200b | Meeting | \u200b | \u200b | Class of Directors Standing for Election | \u200b | \u200b | Term | \u200b\n\u200b | 2021 Annual Meeting | \u200b | \u200b | Class I | \u200b | \u200b | Three-year term expiring at 2024 Annual Meeting | \u200b\n\u200b | 2022 Annual Meeting | \u200b | \u200b | Class II | \u200b | \u200b | Three-year term expiring at 2025 Annual Meeting | \u200b\n\u200b | 2023 Annual Meeting | \u200b | \u200b | Class III | \u200b | \u200b | Three-year term expiring at 2026 Annual Meeting | \u200b", + "rows": [ + [ + "\u200b", + "Meeting", + "\u200b", + "\u200b", + "Class of Directors Standing for Election", + "\u200b", + "\u200b", + "Term", + "\u200b" + ], + [ + "\u200b", + "2021 Annual Meeting", + "\u200b", + "\u200b", + "Class I", + "\u200b", + "\u200b", + "Three-year term expiring at 2024 Annual Meeting", + "\u200b" + ], + [ + "\u200b", + "2022 Annual Meeting", + "\u200b", + "\u200b", + "Class II", + "\u200b", + "\u200b", + "Three-year term expiring at 2025 Annual Meeting", + "\u200b" + ], + [ + "\u200b", + "2023 Annual Meeting", + "\u200b", + "\u200b", + "Class III", + "\u200b", + "\u200b", + "Three-year term expiring at 2026 Annual Meeting", + "\u200b" + ] + ], + "table_index": 6, + "table_kind": "data" + }, + "text": "\u200b | Meeting | \u200b | \u200b | Class of Directors Standing for Election | \u200b | \u200b | Term | \u200b\n\u200b | 2021 Annual Meeting | \u200b | \u200b | Class I | \u200b | \u200b | Three-year term expiring at 2024 Annual Meeting | \u200b\n\u200b | 2022 Annual Meeting | \u200b | \u200b | Class II | \u200b | \u200b | Three-year term expiring at 2025 Annual Meeting | \u200b\n\u200b | 2023 Annual Meeting | \u200b | \u200b | Class III | \u200b | \u200b | Three-year term expiring at 2026 Annual Meeting | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b134", + "block_sequence": 134, + "block_sha256": "f53a57327803d8657302e06c34a8bbedce02c40d4aeea5779eec1d92a65af40a", + "block_type": "paragraph", + "char_count": 701, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 134, + "char_end": 701, + "char_start": 0, + "fragment_sha256": "c434a5a8aaa059da67b7e6e00065710dfe72ee1bd9a3cb9815595fde37199b03", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", + "table": null, + "text": "If you return a duly executed proxy card without specifying how your shares are to be voted, the persons named in the proxy card will vote to elect Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I directors. Cipora Herman, Jonathan Jaffe and Glenn Solomon currently serve on our Board and have indicated their willingness to continue to serve if elected. However, if any director nominee should be unable to serve, or for good cause will not serve, the shares of common stock represented by proxies may be voted for a substitute nominee designated by our Board, or our Board may reduce its size. Our Board has no reason to believe that any of the nominees will be unable to serve if elected." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b135", + "block_sequence": 135, + "block_sha256": "ca14f52acd5f47e244434f3a88510f993448e7b569a6ac1c4dd7452f94574104", + "block_type": "heading", + "char_count": 22, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 135, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "f241625728f227f04c912aa9e50f09039ae649ea45c55030b2ba8996868303c1", + "heading_path": [ + "DEF 14A", + "Our Board of Directors" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s37", + "table": null, + "text": "Our Board of Directors" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b136", + "block_sequence": 136, + "block_sha256": "b04e0b37d77c65bd537855791bd318554c32bed6833c6d119e107b1b78190698", + "block_type": "paragraph", + "char_count": 780, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 136, + "char_end": 780, + "char_start": 0, + "fragment_sha256": "4ced7ce600c9fdd204d18860ff6b7ee360b432fc52ca681ef302f1b080928f10", + "heading_path": [ + "DEF 14A", + "Our Board of Directors" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s37", + "table": null, + "text": "The biographies of each of our current directors, including our Class I director nominees, are included below. Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. No arrangements or understandings exist between any director and any other person pursuant to which such person was selected as a director or nominee." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b137", + "block_sequence": 137, + "block_sha256": "ef2d127de37b942baad06145e54b0c619a1f22327b2ebbcfbec78f5564afe39d", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 137, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "5d1e031563786d65250cc099ae3a3a9585c10cabafe3dda77286da0fd38063a3", + "heading_path": [ + "DEF 14A", + "Our Board of Directors" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s37", + "table": null, + "text": "5" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b138", + "block_sequence": 138, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 138, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Our Board of Directors" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s37", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b139", + "block_sequence": 139, + "block_sha256": "c9d88e7a814136554fdf37d98c5f8c608c132909dcfa00d3c4627ca85846e6f7", + "block_type": "heading", + "char_count": 20, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 139, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "e308ff46ef9ebf64bb93a9247f5c6ba161dbacfb84126d267f78e1bac127dd57", + "heading_path": [ + "DEF 14A", + "Our Board of Directors", + "DIRECTOR BIOGRAPHIES" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s38", + "table": null, + "text": "DIRECTOR BIOGRAPHIES" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b140", + "block_sequence": 140, + "block_sha256": "7471034193227eb6094250498adf4508745930de486e25e13f00a6187df0d48b", + "block_type": "heading", + "char_count": 103, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 140, + "char_end": 103, + "char_start": 0, + "fragment_sha256": "5a48a983344c5b1b9cec90043cf3956e7912e3bff927167189de4943e8bc8720", + "heading_path": [ + "DEF 14A", + "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", + "table": null, + "text": "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b141", + "block_sequence": 141, + "block_sha256": "200ee576b3bc0937e82d990518e96b70d6ab942e6d7a08403be2bc26b779635a", + "block_type": "table", + "char_count": 1599, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 141, + "char_end": 1599, + "char_start": 0, + "fragment_sha256": "efa960062f6667e9d2a56d021bf0928b7f0c91663f47d6b025802522313bd455", + "heading_path": [ + "DEF 14A", + "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + ], + "table_index": 7, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | CIPORA HERMAN\u200b | \u200b |\n| \u200b | Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit (CHAIR) \u200b | \u200b | \u200b | Cipora Herman has served on Opendoor Technologies Inc.\u2019s Board since December 2020 and previously served as a member of SCH\u2019s board of directors until December 2020. Since January 2021, Ms. Herman ha\u2026 | \u200b |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "\u200b | \u200b | \u200b | \u200b | CIPORA HERMAN\u200b | \u200b\n\u200b | Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit (CHAIR) \u200b | \u200b | \u200b | Cipora Herman has served on Opendoor Technologies Inc.\u2019s Board since December 2020 and previously served as a member of SCH\u2019s board of directors until December 2020. Since January 2021, Ms. Herman has served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028. Ms. Herman has served on the board of directors of ZipRecruiter since October 2018, where she is Chairperson of the audit committee and also is a member of the compensation committee. Ms. Herman also previously served on the board of directors of Mindbody, Inc., a software-as-a-service company from October 2016 to February 2019, and Memery, Inc., a technology startup, from April 2015 to January 2021. From February 2017 until June 2018, Ms. Herman served as Chief Financial Officer of Mori, Inc., a social e-reader platform. From October 2012 to April 2016, Ms. Herman served as the Chief Financial Officer of the National Football League\u2019s San Francisco 49ers, a professional sports team. From 2007 to 2012, Ms. Herman served as the Vice President & Treasurer of Facebook, Inc., a social media company. Ms. Herman holds an A.B. in International Relations, an M.A. in International Development Policy and an M.B.A, each received from Stanford University. Skills and Qualifications: We believe Ms. Herman is qualified to serve on our Board because of her financial expertise and experience as a director of publicly and privately held companies. | \u200b", + "rows": [ + [ + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "CIPORA HERMAN\u200b", + "\u200b" + ], + [ + "\u200b", + "Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit (CHAIR) \u200b", + "\u200b", + "\u200b", + "Cipora Herman has served on Opendoor Technologies Inc.\u2019s Board since December 2020 and previously served as a member of SCH\u2019s board of directors until December 2020. Since January 2021, Ms. Herman has served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028. Ms. Herman has served on the board of directors of ZipRecruiter since October 2018, where she is Chairperson of the audit committee and also is a member of the compensation committee. Ms. Herman also previously served on the board of directors of Mindbody, Inc., a software-as-a-service company from October 2016 to February 2019, and Memery, Inc., a technology startup, from April 2015 to January 2021. From February 2017 until June 2018, Ms. Herman served as Chief Financial Officer of Mori, Inc., a social e-reader platform. From October 2012 to April 2016, Ms. Herman served as the Chief Financial Officer of the National Football League\u2019s San Francisco 49ers, a professional sports team. From 2007 to 2012, Ms. Herman served as the Vice President & Treasurer of Facebook, Inc., a social media company. Ms. Herman holds an A.B. in International Relations, an M.A. in International Development Policy and an M.B.A, each received from Stanford University. Skills and Qualifications: We believe Ms. Herman is qualified to serve on our Board because of her financial expertise and experience as a director of publicly and privately held companies.", + "\u200b" + ] + ], + "table_index": 7, + "table_kind": "unknown" + }, + "text": "\u200b | \u200b | \u200b | \u200b | CIPORA HERMAN\u200b | \u200b\n\u200b | Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit (CHAIR) \u200b | \u200b | \u200b | Cipora Herman has served on Opendoor Technologies Inc.\u2019s Board since December 2020 and previously served as a member of SCH\u2019s board of directors until December 2020. Since January 2021, Ms. Herman has served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028. Ms. Herman has served on the board of directors of ZipRecruiter since October 2018, where she is Chairperson of the audit committee and also is a member of the compensation committee. Ms. Herman also previously served on the board of directors of Mindbody, Inc., a software-as-a-service company from October 2016 to February 2019, and Memery, Inc., a technology startup, from April 2015 to January 2021. From February 2017 until June 2018, Ms. Herman served as Chief Financial Officer of Mori, Inc., a social e-reader platform. From October 2012 to April 2016, Ms. Herman served as the Chief Financial Officer of the National Football League\u2019s San Francisco 49ers, a professional sports team. From 2007 to 2012, Ms. Herman served as the Vice President & Treasurer of Facebook, Inc., a social media company. Ms. Herman holds an A.B. in International Relations, an M.A. in International Development Policy and an M.B.A, each received from Stanford University. Skills and Qualifications: We believe Ms. Herman is qualified to serve on our Board because of her financial expertise and experience as a director of publicly and privately held companies. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b142", + "block_sequence": 142, + "block_sha256": "f7aeed33f2f9a512ed00492d0a2317e5c5e870102b6b5aa73110ccd393fa9cff", + "block_type": "table", + "char_count": 1329, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 142, + "char_end": 1329, + "char_start": 0, + "fragment_sha256": "c8e9970a602ed9853642eae2f43893a06a5e3c7b65a47f0d0d2e220861d650ee", + "heading_path": [ + "DEF 14A", + "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + ], + "table_index": 8, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | JONATHAN JAFFE\u200b | \u200b |\n| \u200b | Director Since: 2020 Age: 61 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | Jonathan Jaffe has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Ch\u2026 | \u200b |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "\u200b | \u200b | \u200b | \u200b | JONATHAN JAFFE\u200b | \u200b\n\u200b | Director Since: 2020 Age: 61 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | Jonathan Jaffe has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation's largest homebuilders, since November 2020. He has served as a member of the board of directors of Lennar since 2018 (and previously served as a director from 1997 to 2004). He served as Lennar's President from April 2018 to November 2020 and as Chief Operating Officer from December 2004 to January 2019. Previously, Mr. Jaffe served as Vice President of Lennar from 1994 to April 2018, and prior to that, he served as a Regional President in Lennar's Homebuilding operations. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe holds a B.A. in Architecture from the University of Florida. Skills and Qualifications: We believe Mr. Jaffe is qualified to serve as a member of our Board because of his extensive knowledge of the housing industry and his deep operating experience. | \u200b", + "rows": [ + [ + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "JONATHAN JAFFE\u200b", + "\u200b" + ], + [ + "\u200b", + "Director Since: 2020 Age: 61 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b", + "\u200b", + "\u200b", + "Jonathan Jaffe has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation's largest homebuilders, since November 2020. He has served as a member of the board of directors of Lennar since 2018 (and previously served as a director from 1997 to 2004). He served as Lennar's President from April 2018 to November 2020 and as Chief Operating Officer from December 2004 to January 2019. Previously, Mr. Jaffe served as Vice President of Lennar from 1994 to April 2018, and prior to that, he served as a Regional President in Lennar's Homebuilding operations. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe holds a B.A. in Architecture from the University of Florida. Skills and Qualifications: We believe Mr. Jaffe is qualified to serve as a member of our Board because of his extensive knowledge of the housing industry and his deep operating experience.", + "\u200b" + ] + ], + "table_index": 8, + "table_kind": "unknown" + }, + "text": "\u200b | \u200b | \u200b | \u200b | JONATHAN JAFFE\u200b | \u200b\n\u200b | Director Since: 2020 Age: 61 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | Jonathan Jaffe has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation's largest homebuilders, since November 2020. He has served as a member of the board of directors of Lennar since 2018 (and previously served as a director from 1997 to 2004). He served as Lennar's President from April 2018 to November 2020 and as Chief Operating Officer from December 2004 to January 2019. Previously, Mr. Jaffe served as Vice President of Lennar from 1994 to April 2018, and prior to that, he served as a Regional President in Lennar's Homebuilding operations. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe holds a B.A. in Architecture from the University of Florida. Skills and Qualifications: We believe Mr. Jaffe is qualified to serve as a member of our Board because of his extensive knowledge of the housing industry and his deep operating experience. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b143", + "block_sequence": 143, + "block_sha256": "6377896ea1319988b6a46f5c3493808fe34b34c84d509bdcb3bba19f371b1fef", + "block_type": "table", + "char_count": 903, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 143, + "char_end": 903, + "char_start": 0, + "fragment_sha256": "669e99b8eb81324061dfe4c6da0339199ba187294731fff6580e161c7e375ded", + "heading_path": [ + "DEF 14A", + "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + ], + "table_index": 9, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | GLENN SOLOMON\u200b | \u200b |\n| \u200b | Director Since: 2020 Age: 52 Committee Memberships: \u2022 Compensation (CHAIR) \u200b | \u200b | \u200b | Glenn Solomon has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from February 2015 until December 2020. Since 2006, Mr. Solomon ha\u2026 | \u200b |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "\u200b | \u200b | \u200b | \u200b | GLENN SOLOMON\u200b | \u200b\n\u200b | Director Since: 2020 Age: 52 Committee Memberships: \u2022 Compensation (CHAIR) \u200b | \u200b | \u200b | Glenn Solomon has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from February 2015 until December 2020. Since 2006, Mr. Solomon has been a managing partner of GGV Capital, a venture capital firm. He serves as a director of a number of privately held companies and previously served as a director of Domo, Inc. from August 2017 to March 2019. Mr. Solomon holds a B.A. in Public Policy from Stanford University and an M.B.A. from Stanford University Graduate School of Business. Skills and Qualifications: We believe Mr. Solomon is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies. | \u200b", + "rows": [ + [ + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "GLENN SOLOMON\u200b", + "\u200b" + ], + [ + "\u200b", + "Director Since: 2020 Age: 52 Committee Memberships: \u2022 Compensation (CHAIR) \u200b", + "\u200b", + "\u200b", + "Glenn Solomon has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from February 2015 until December 2020. Since 2006, Mr. Solomon has been a managing partner of GGV Capital, a venture capital firm. He serves as a director of a number of privately held companies and previously served as a director of Domo, Inc. from August 2017 to March 2019. Mr. Solomon holds a B.A. in Public Policy from Stanford University and an M.B.A. from Stanford University Graduate School of Business. Skills and Qualifications: We believe Mr. Solomon is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies.", + "\u200b" + ] + ], + "table_index": 9, + "table_kind": "unknown" + }, + "text": "\u200b | \u200b | \u200b | \u200b | GLENN SOLOMON\u200b | \u200b\n\u200b | Director Since: 2020 Age: 52 Committee Memberships: \u2022 Compensation (CHAIR) \u200b | \u200b | \u200b | Glenn Solomon has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from February 2015 until December 2020. Since 2006, Mr. Solomon has been a managing partner of GGV Capital, a venture capital firm. 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Skills and Qualifications: We believe Mr. Solomon is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b144", + "block_sequence": 144, + "block_sha256": "e7f6c011776e8db7cd330b54174fd76f7d0216b612387a5ffcfb81e6f0919683", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 144, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "bb84cb78dce103153290375fb44c4e13d8cc292b682596828bf913e3858a8f87", + "heading_path": [ + "DEF 14A", + "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", + "table": null, + "text": "6" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b145", + "block_sequence": 145, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 145, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b146", + "block_sequence": 146, + "block_sha256": "6c05953785c202085f829ac53b6454efb2c776d0e57a4ff7b9a89f6bc3bf3168", + "block_type": "heading", + "char_count": 44, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 146, + "char_end": 44, + "char_start": 0, + "fragment_sha256": "ce8068e9c2f68ee5442f6102e9512d2b6f316f69a1915ac82489e682e28db24e", + "heading_path": [ + "DEF 14A", + "Class II directors (terms to expire in 2022)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s40", + "table": null, + "text": "Class II directors (terms to expire in 2022)" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b147", + "block_sequence": 147, + "block_sha256": "6399e9f4e8527a15c2a6df060aafdab74b5ad4fec154954df0fab4a6ee7111ef", + "block_type": "table", + "char_count": 1384, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 147, + "char_end": 1384, + "char_start": 0, + "fragment_sha256": "ad693c90445f0112212b9b75078855a0355b00d43f00dc0266e5336db60dff16", + "heading_path": [ + "DEF 14A", + "Class II directors (terms to expire in 2022)" + ], + "table_index": 10, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s40", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | ADAM BAIN\u200b | \u200b |\n| \u200b | Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit \u200b \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | Adam Bain has served on our Board since December 2020 and previously served as a member of SCH's board of directors until December 2020. Mr. Bain is a co-managing partner of 01 Advisors, a venture ca\u2026 | \u200b |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "\u200b | \u200b | \u200b | \u200b | ADAM BAIN\u200b | \u200b\n\u200b | Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit \u200b \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | Adam Bain has served on our Board since December 2020 and previously served as a member of SCH's board of directors until December 2020. Mr. Bain is a co-managing partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since co-founding the firm in January 2018. Mr. Bain served as a director of IPOA from September 2017 until the consummation of its business combination with Virgin Galactic in October 2019, and continues to serve as a member of Virgin Galactic\u2019s board of directors, where he serves as chair of the nominating and corporate governance committee and a member of the compensation committee. Since November 2016, Mr. Bain has also been an independent advisor and investor in select growth-stage companies. Previously, Mr. Bain was the Chief Operating Officer of Twitter from September 2015 until November 2016, and President of Global Revenue & Partnerships from 2010 to September 2015, where he was responsible for the business lines at the public company. Mr. Bain earned his B.A. in English Journalism from Miami University, in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve on our Board because of his significant operating and technology experience. | \u200b", + "rows": [ + [ + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "ADAM BAIN\u200b", + "\u200b" + ], + [ + "\u200b", + "Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit \u200b \u2022 Nominating and Corporate Governance \u200b", + "\u200b", + "\u200b", + "Adam Bain has served on our Board since December 2020 and previously served as a member of SCH's board of directors until December 2020. Mr. Bain is a co-managing partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since co-founding the firm in January 2018. Mr. Bain served as a director of IPOA from September 2017 until the consummation of its business combination with Virgin Galactic in October 2019, and continues to serve as a member of Virgin Galactic\u2019s board of directors, where he serves as chair of the nominating and corporate governance committee and a member of the compensation committee. Since November 2016, Mr. Bain has also been an independent advisor and investor in select growth-stage companies. Previously, Mr. Bain was the Chief Operating Officer of Twitter from September 2015 until November 2016, and President of Global Revenue & Partnerships from 2010 to September 2015, where he was responsible for the business lines at the public company. Mr. Bain earned his B.A. in English Journalism from Miami University, in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve on our Board because of his significant operating and technology experience.", + "\u200b" + ] + ], + "table_index": 10, + "table_kind": "unknown" + }, + "text": "\u200b | \u200b | \u200b | \u200b | ADAM BAIN\u200b | \u200b\n\u200b | Director Since: 2020 Age: 47 Committee Memberships: \u2022 Audit \u200b \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | Adam Bain has served on our Board since December 2020 and previously served as a member of SCH's board of directors until December 2020. Mr. Bain is a co-managing partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since co-founding the firm in January 2018. Mr. Bain served as a director of IPOA from September 2017 until the consummation of its business combination with Virgin Galactic in October 2019, and continues to serve as a member of Virgin Galactic\u2019s board of directors, where he serves as chair of the nominating and corporate governance committee and a member of the compensation committee. Since November 2016, Mr. Bain has also been an independent advisor and investor in select growth-stage companies. Previously, Mr. Bain was the Chief Operating Officer of Twitter from September 2015 until November 2016, and President of Global Revenue & Partnerships from 2010 to September 2015, where he was responsible for the business lines at the public company. Mr. Bain earned his B.A. in English Journalism from Miami University, in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve on our Board because of his significant operating and technology experience. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b148", + "block_sequence": 148, + "block_sha256": "3624c82440c23d70b10271cf760a93b0c03f902f612f21e5dad10da66206945f", + "block_type": "table", + "char_count": 1041, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 148, + "char_end": 1041, + "char_start": 0, + "fragment_sha256": "3c156cd232323facfc3483628bc58c7dca1e423823cead52ece9647da099b56e", + "heading_path": [ + "DEF 14A", + "Class II directors (terms to expire in 2022)" + ], + "table_index": 11, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s40", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | PUEO KEFFER\u200b | \u200b |\n| \u200b | Director Since: 2020 Age: 39 Committee Memberships: \u2022 Audit \u200b | \u200b | \u200b | Pueo Keffer has served on our Board since December 2020 and previously served as a member of Opendoor Labs Inc.\u2019s board of directors from October 2015 until December 2020. Mr. Keffer has served as a \u2026 | \u200b |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "\u200b | \u200b | \u200b | \u200b | PUEO KEFFER\u200b | \u200b\n\u200b | Director Since: 2020 Age: 39 Committee Memberships: \u2022 Audit \u200b | \u200b | \u200b | Pueo Keffer has served on our Board since December 2020 and previously served as a member of Opendoor Labs Inc.\u2019s board of directors from October 2015 until December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, since April 2015. From 2009 to April 2015, Mr. Keffer was employed by Redpoint Ventures, most recently as a Partner. Since June 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a cloud computing platform company. He also serves on the board of directors of a privately held company. Mr. Keffer holds a B.A. in Economics from Stanford University. Skills and Qualifications: We believe Mr. Keffer is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies. | \u200b", + "rows": [ + [ + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "PUEO KEFFER\u200b", + "\u200b" + ], + [ + "\u200b", + "Director Since: 2020 Age: 39 Committee Memberships: \u2022 Audit \u200b", + "\u200b", + "\u200b", + "Pueo Keffer has served on our Board since December 2020 and previously served as a member of Opendoor Labs Inc.\u2019s board of directors from October 2015 until December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, since April 2015. From 2009 to April 2015, Mr. Keffer was employed by Redpoint Ventures, most recently as a Partner. Since June 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a cloud computing platform company. He also serves on the board of directors of a privately held company. Mr. Keffer holds a B.A. in Economics from Stanford University. Skills and Qualifications: We believe Mr. Keffer is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies.", + "\u200b" + ] + ], + "table_index": 11, + "table_kind": "unknown" + }, + "text": "\u200b | \u200b | \u200b | \u200b | PUEO KEFFER\u200b | \u200b\n\u200b | Director Since: 2020 Age: 39 Committee Memberships: \u2022 Audit \u200b | \u200b | \u200b | Pueo Keffer has served on our Board since December 2020 and previously served as a member of Opendoor Labs Inc.\u2019s board of directors from October 2015 until December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, since April 2015. From 2009 to April 2015, Mr. Keffer was employed by Redpoint Ventures, most recently as a Partner. Since June 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a cloud computing platform company. He also serves on the board of directors of a privately held company. Mr. Keffer holds a B.A. in Economics from Stanford University. Skills and Qualifications: We believe Mr. Keffer is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b149", + "block_sequence": 149, + "block_sha256": "918a844c1ab438890a9f37c6bbe5661b7c5e1bac4b289c6814faf36a98c8e5bf", + "block_type": "table", + "char_count": 1358, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 149, + "char_end": 1358, + "char_start": 0, + "fragment_sha256": "1952c230fe7a4e20339fd9a9020f6a9236a5891bf71875935248dee16fe60bc6", + "heading_path": [ + "DEF 14A", + "Class II directors (terms to expire in 2022)" + ], + "table_index": 12, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s40", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | JOHN RICE\u200b | \u200b |\n| \u200b | Director Since: 2021 Age: 54 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | John Rice has served on our Board since March 2021. Mr. Rice is the Chief Executive Officer of Management Leadership for Tomorrow (MLT), a racial equity-focused non-profit organization that he founde\u2026 | \u200b |", + "n_cols": 6, + "n_rows": 2, + "plain_text": "\u200b | \u200b | \u200b | \u200b | JOHN RICE\u200b | \u200b\n\u200b | Director Since: 2021 Age: 54 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | John Rice has served on our Board since March 2021. Mr. Rice is the Chief Executive Officer of Management Leadership for Tomorrow (MLT), a racial equity-focused non-profit organization that he founded in 2001. Prior to MLT, Mr. Rice was an executive with the National Basketball Association from 1996 to 2000, where he served as managing director of NBA Japan and as director of marketing for Latin America. Mr. Rice has served as a member of the board of directors of Walker & Dunlop, a publicly-traded real estate finance company, since 2010, where he also serves as chairman of the nominating and corporate governance committee and as a member of the compensation committee. Mr. Rice also serves on the board of directors of a privately held company and is a member of the Yale University board of trustees. Mr. Rice received a B.A. from Yale University and an M.B.A. from Harvard Business School. Skills and Qualifications: We believe Mr. Rice is qualified to serve as a member of our Board because of his executive leadership skills, strategic planning experience, public company experience and extensive expertise in driving talent development and fostering diversity and inclusion efforts across organizations. | \u200b", + "rows": [ + [ + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "JOHN RICE\u200b", + "\u200b" + ], + [ + "\u200b", + "Director Since: 2021 Age: 54 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b", + "\u200b", + "\u200b", + "John Rice has served on our Board since March 2021. Mr. Rice is the Chief Executive Officer of Management Leadership for Tomorrow (MLT), a racial equity-focused non-profit organization that he founded in 2001. Prior to MLT, Mr. Rice was an executive with the National Basketball Association from 1996 to 2000, where he served as managing director of NBA Japan and as director of marketing for Latin America. Mr. Rice has served as a member of the board of directors of Walker & Dunlop, a publicly-traded real estate finance company, since 2010, where he also serves as chairman of the nominating and corporate governance committee and as a member of the compensation committee. Mr. Rice also serves on the board of directors of a privately held company and is a member of the Yale University board of trustees. Mr. Rice received a B.A. from Yale University and an M.B.A. from Harvard Business School. Skills and Qualifications: We believe Mr. Rice is qualified to serve as a member of our Board because of his executive leadership skills, strategic planning experience, public company experience and extensive expertise in driving talent development and fostering diversity and inclusion efforts across organizations.", + "\u200b" + ] + ], + "table_index": 12, + "table_kind": "unknown" + }, + "text": "\u200b | \u200b | \u200b | \u200b | JOHN RICE\u200b | \u200b\n\u200b | Director Since: 2021 Age: 54 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b | \u200b | \u200b | John Rice has served on our Board since March 2021. Mr. Rice is the Chief Executive Officer of Management Leadership for Tomorrow (MLT), a racial equity-focused non-profit organization that he founded in 2001. Prior to MLT, Mr. Rice was an executive with the National Basketball Association from 1996 to 2000, where he served as managing director of NBA Japan and as director of marketing for Latin America. Mr. Rice has served as a member of the board of directors of Walker & Dunlop, a publicly-traded real estate finance company, since 2010, where he also serves as chairman of the nominating and corporate governance committee and as a member of the compensation committee. Mr. Rice also serves on the board of directors of a privately held company and is a member of the Yale University board of trustees. Mr. Rice received a B.A. from Yale University and an M.B.A. from Harvard Business School. Skills and Qualifications: We believe Mr. Rice is qualified to serve as a member of our Board because of his executive leadership skills, strategic planning experience, public company experience and extensive expertise in driving talent development and fostering diversity and inclusion efforts across organizations. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b150", + "block_sequence": 150, + "block_sha256": "7902699be42c8a8e46fbbb4501726517e86b22c56a189f7625a6da49081b2451", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 150, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "cf6b95ef2b17f6c9db0f58b6151618e3dee598df4a97d25a1102520d9ebcfa71", + "heading_path": [ + "DEF 14A", + "Class II directors (terms to expire in 2022)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s40", + "table": null, + "text": "7" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b151", + "block_sequence": 151, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 151, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Class II directors (terms to expire in 2022)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s40", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b152", + "block_sequence": 152, + "block_sha256": "f12ada5d4669f80ea8955d464d76381a89054c67b1675eb939a051c0df0ae8c6", + "block_type": "heading", + "char_count": 45, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 152, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "2a7cb7071fc1ebdb5d8af2d2a6f1a2cd5dfa1257d21d0095eaf5068d1c3a1280", + "heading_path": [ + "DEF 14A", + "Class III directors (terms to expire in 2023)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s41", + "table": null, + "text": "Class III directors (terms to expire in 2023)" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b153", + "block_sequence": 153, + "block_sha256": "9765c26cccc4ec791dea20a5ee8f526cde7be2d72adb6afabcfce2682e1b4d43", + "block_type": "table", + "char_count": 1193, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 153, + "char_end": 1193, + "char_start": 0, + "fragment_sha256": "93701b534f31b578389501418cb575c33466b3c443ec75773ce745a919c70d41", + "heading_path": [ + "DEF 14A", + "Class III directors (terms to expire in 2023)" + ], + "table_index": 13, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s41", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | ERIC WU\u200b | \u200b |\n| \u200b | Chief Executive Officer and Chairperson of the Board Director Since: 2020 Age: 38 | \u200b | \u200b | Eric Wu co-founded Opendoor and has served as our Chief Executive Officer and as Chairman of our Board since December 2020. 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Skills and Qualifications: We believe Mr. Wu is qualified to serve as a member of our Board due to the perspective and experience he brings as our Chief Executive Officer and as a co-founder and his extensive experience in real estate and technology and managing companies. | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b154", + "block_sequence": 154, + "block_sha256": "258c39814a0f2b029844b6bc7379034527c29526d289a4981d87f1479b86ed74", + "block_type": "table", + "char_count": 1283, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 154, + "char_end": 1283, + "char_start": 0, + "fragment_sha256": "75497538e00fb98403f55338e1ed5d35cb6dd4bbe8f9915a1402854cc7b4669a", + "heading_path": [ + "DEF 14A", + "Class III directors (terms to expire in 2023)" + ], + "table_index": 14, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s41", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | \u200b | JASON KILAR\u200b | \u200b |\n| \u200b | Director Since: 2020 Age: 50 Committee Memberships: \u2022 Nominating and Corporate Governance (CHAIR) \u200b | \u200b | \u200b | Jason Kilar has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from March 2019 until December 2020. 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The Board regularly reviews our governance practices to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b160", + "block_sequence": 160, + "block_sha256": "fb8c21646f49c6c339f223dbed8251db9a0ef42354db9049d80a6f4ff79019ac", + "block_type": "table", + "char_count": 1390, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 160, + "char_end": 1390, + "char_start": 0, + "fragment_sha256": "f89d3b34decb3284b56358c1b5488f45e5da9df82ad2cfe53d61fa0a31ea863c", + "heading_path": [ + "DEF 14A", + "Corporate Governance Highlights" + ], + "table_index": 15, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s43", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + 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We believe that it is in the best interests of the Company to have the flexibility to evaluate our leadership structure over time as part of Opendoor\u2019s ongoing succession planning process. Our Corporate Governance Guidelines provide that an independent \u201cLead Director\u201d may be elected from among the independent directors when the Chairperson of the Board is not an independent director. We do not have a Lead Director at this time. The Board has determined that the best leadership structure for Opendoor at this time is to combine the Chairperson and Chief Executive Officer positions, with Mr. Wu serving as Chairperson and Chief Executive Officer. Our Board has determined that combining the roles of Chairperson of the Board and Chief Executive Officer is best for our Company and its stockholders at this time because it provides unified leadership by Mr. Wu and allows for a single, clear focus for management to execute the Company\u2019s" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b167", + "block_sequence": 167, + "block_sha256": "19581e27de7ced00ff1ce50b2047e7a567c76b1cbaebabe5ef03f7c3017bb5b7", + "block_type": "page_number", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 167, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "339450afe1506aa56172b13cf8f0fc2a92bf2d266cbe7d060d6e2aeaa1c9c17e", + "heading_path": [ + "DEF 14A", + "Board Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", + "table": null, + "text": "9" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b168", + "block_sequence": 168, + "block_sha256": "7c342afc474ecb0faa5dafd71231a873a49185fac57f5ef602ec40fc2820ed7b", + "block_type": "paragraph", + "char_count": 5767, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 168, + "char_end": 5767, + "char_start": 0, + "fragment_sha256": "8608ac3446131f9a17e2226a4b78e00bd0b7ace25650908cd8e45016eb246e55", + "heading_path": [ + "DEF 14A", + "Board Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", + "table": null, + "text": "TABLE OF CONTENTS strategy and business plans. Our Board is composed of individuals with extensive experience in the technology industry and public company management. In addition, each of our standing Board committees is composed of, and chaired by, independent directors. For these reasons and because of the strong leadership of Mr. Wu, our Board has concluded that our current leadership structure is appropriate at this time. Board Meetings and Attendance Board members are expected to prepare for, attend and participate in all meetings of the Board and committees on which they serve. Given the timing of the closing of our Business Combination on December 18, 2020, our Board held one meeting in 2020. During 2020, each director attended 100% of the aggregate of the total number of Board meetings and committee meetings on which they then served, other than Jason Kilar who was unable to attend the one Board meeting held in 2020. We do not maintain a formal policy regarding director attendance at the annual meeting; however, it is expected that directors will attend. Executive Sessions of Independent Directors The Board holds executive sessions of its independent directors no less than two times per year. Director Orientation and Continuing Education The Board views orientation and continuing education as vital tools for building an effective Board. We provide all new directors with orientation sessions regarding the Board and the Company\u2019s operations. The orientation consists of presentations by members of senior management on the Company\u2019s strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and the competitive landscape. In addition, the Company intends to pay for certain expenses for any director who wishes to attend seminars, conferences and other continuing education programs designed for directors of public companies. Comprehensive, Ongoing Process for Board Succession Planning and Selection and Nomination of Directors As provided in our Corporate Governance Guidelines, the Board, together with the Nominating and Corporate Governance Committee, is responsible for determining the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics and the ability to read and understand basic financial statements. In considering candidates for Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating and Corporate Governance Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating and Corporate Governance Committee will evaluate whether incumbent directors possess the requisite skills and perspective, both individually and collectively. In addition, the Board will review those directors\u2019 overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors\u2019 independence. The Nominating and Corporate Governance Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating and Corporate Governance Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating and Corporate Governance Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating and Corporate Governance Committee reviews the backgrounds of those candidates, evaluates candidates\u2019 independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating and Corporate Governance Committee for candidates for election as a director. Cipora Herman, a Class I director nominee, was initially recommended to serve on our Board by SCH and was selected by our Chief Executive Officer. Jonathan Jaffe and Glenn Solomon, both Class I director nominees, were initially recommended to serve on our Board by our Chief Executive Officer. Consideration of Board Diversity The Board and the Nominating and Corporate Governance Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. 38% of our directors self-identify as having diverse characteristics. 10" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b169", + "block_sequence": 169, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 169, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Board Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b170", + "block_sequence": 170, + "block_sha256": "48c2f578f7d26e8363003d8cad2d402865685bcf4b4e3d435ea9a16afd4e5f5b", + "block_type": "paragraph", + "char_count": 567, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 170, + "char_end": 567, + "char_start": 0, + "fragment_sha256": "34483ddfcfe3005b4f92298a1c55da67900d400104472eebdf348b321dc2837e", + "heading_path": [ + "DEF 14A", + "Board Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", + "table": null, + "text": "The Company believes that a Board made up of highly qualified individuals from diverse backgrounds promotes better corporate governance and performance and effective decision-making and thus has included diversity as a factor that will be taken into consideration by the Nominating and Corporate Governance Committee and the Board when identifying director candidates and recommending or selecting nominees for election by stockholders. 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Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Elizabeth Stevens, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating and Corporate Governance Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b173", + "block_sequence": 173, + "block_sha256": "e33154e36b0f2ef2c78ad1fdf8bac32b55ce8e9046164bfc68c5835b52bf88ca", + "block_type": "heading", + "char_count": 30, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 173, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "033c2d7c0102599e9629d00ed03d89229ae0a24ef95e6c944715702f7a0de26c", + "heading_path": [ + "DEF 14A", + "Corporate Governance Documents" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s47", + "table": null, + "text": "Corporate Governance Documents" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b174", + "block_sequence": 174, + "block_sha256": "c8b09632a3fab4d6c68916026e21bfb078d2edea3faadde120e693ff03e9dd3d", + "block_type": "paragraph", + "char_count": 493, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 174, + "char_end": 493, + "char_start": 0, + "fragment_sha256": "2562912cfa4d35814b1d3ea2a3c7c34545ac9733774d92fa2ef9181254d1774d", + "heading_path": [ + "DEF 14A", + "Corporate Governance Documents" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s47", + "table": null, + "text": "We believe that good corporate governance is important to ensure that Opendoor is managed for the long-term benefit of our stockholders. Our Nominating and Corporate Governance Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Complete copies of our Corporate Governance Guidelines and committee charters are available on the \u201cCorporate Governance\u201d section of our website at investor.opendoor.com." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b175", + "block_sequence": 175, + "block_sha256": "b8e4367c23d7a5b16358293245d19d517cebb22ccd3029163559b044fceac797", + "block_type": "heading", + "char_count": 15, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 175, + "char_end": 15, + "char_start": 0, + "fragment_sha256": "09cebca38824071399d24402eb80b5a48eebc5dc78a9a2cca0a2cdeebdc0eef8", + "heading_path": [ + "DEF 14A", + "Code of Conduct" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s48", + "table": null, + "text": "Code of Conduct" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b176", + "block_sequence": 176, + "block_sha256": "5cc96c5b2462fcf15523aee76221437e358ddf4a9587064858481e7aea6c9d88", + "block_type": "paragraph", + "char_count": 467, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 176, + "char_end": 467, + "char_start": 0, + "fragment_sha256": "7a463f7de2775465e5d6eaf7f1717c212ec1cd4561452ba5f6f800a84609ad80", + "heading_path": [ + "DEF 14A", + "Code of Conduct" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s48", + "table": null, + "text": "The Board has adopted a written code of business conduct and ethics (the \u201cCode of Conduct\u201d), which applies to all of our employees, officers and directors. Our Code of Conduct is available in the \u201cCorporate Governance\u201d section of our website at investor.opendoor.com. 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Current copies of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee charters are posted on the \u201cCorporate Governance\u201d section of our website located at investor.opendoor.com. Due to the timing of the closing of the Business Combination on December 18, 2020, the Audit Committee held one meeting during 2020 and the Compensation Committee and Nominating and Corporate Governance Committee did not meet in 2020. Our Board has determined that all of the members of each of its committees are independent as defined under applicable Nasdaq rules. 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", + "table": null, + "text": "\u200b \u200b Audit Committee Current Committee Members: Cipora Herman (CHAIR) Adam Bain Pueo Keffer \u200b \u200b \u200b Primary Responsibilities Include: \u2022 Appointing, compensating, retaining and overseeing our independent registered public accounting firm; \u200b \u2022 Evaluating the independence of our independent registered public accounting firm; \u200b \u2022 Reviewing with our independent registered public accounting firm the scope and results of their audit; \u200b \u2022 Approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm; \u200b \u2022 Overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC; \u200b \u2022 Discussing guidelines and policies governing the process by which senior management assesses and manages our exposure to risk, our major financial risk exposures and the steps we have taken to monitor and control such risks; \u200b \u2022 Reviewing and approving or ratifying related person transactions; \u200b \u2022 Reviewing the adequacy and effectiveness of the Company\u2019s accounting and internal control policies and procedures on a regular basis, including the responsibilities, budget, compensation and staffing of the Company\u2019s internal audit function; and \u200b \u2022 Establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters and the confidential anonymous submission of concerns regarding questionable accounting, internal controls or auditing matters. \u200b Financial Expertise and Independence All members of the Audit Committee meet the independence standards of the Nasdaq and the SEC, as well as the financial literacy requirements of Nasdaq. The Board has determined that Ms. Herman qualifies as an \u201caudit committee financial expert\u201d as defined by SEC rules. Report The Report of the Audit Committee is set forth beginning on page 39 of this proxy statement. \u200b \u200b \u200b \u200b Nominating and Corporate Governance Committee Current Committee Members: Jason Kilar (CHAIR) Jonathan Jaffe John Rice \u200b \u200b \u200b Primary Responsibilities Include: \u2022 Assisting in identifying, recruiting and, if appropriate, interviewing candidates to fill positions on our Board and, if it deems it appropriate, establishing procedures for stockholders to follow in submitting recommendations for candidates for the Board; \u200b \u2022 Reviewing the background and qualifications of individuals being considered as director candidates; \u200b \u2022 Recommending to our Board the nominees for election to our Board at annual meetings of our stockholders; \u200b \u2022 Reviewing and making recommendations to the Board regarding committee and Board composition and size; \u200b \u2022 Overseeing an evaluation of our Board and its committees; and \u200b \u2022 Developing and recommending to our Board, and periodically reviewing, the Corporate Governance Guidelines. \u200b Independence The Nominating and Corporate Governance Committee is composed entirely of directors who are independent under the Nasdaq rules. \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b184", + "block_sequence": 184, + "block_sha256": "6b51d431df5d7f141cbececcf79edf3dd861c3b4069f0b11661a3eefacbba918", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 184, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "a8f27a2f092017af887db5a75f3404bd889ccab3e940370b63ae0ca671cba367", + "heading_path": [ + "DEF 14A", + "Board Committees" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", + "table": null, + "text": "12" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b185", + "block_sequence": 185, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 185, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Board Committees" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b186", + "block_sequence": 186, + "block_sha256": "79d8ef59f1e85ba99a03f9955354416da58267934ddcbeb475a38ce611d7f2b3", + "block_type": "paragraph", + "char_count": 1929, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 186, + "char_end": 1929, + "char_start": 0, + "fragment_sha256": "0cfced002ac27fc485a73e968da5494aa6e13317ced573b7c74a606c9747f66b", + "heading_path": [ + "DEF 14A", + "Board Committees" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", + "table": null, + "text": "\u200b \u200b Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain \u200b \u200b \u200b Primary Responsibilities Include: \u2022 Evaluating the performance of our Chief Executive Officer in light of any goals and objectives of the Company\u2019s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the Chief Executive Officer\u2019s compensation level; \u200b \u2022 Evaluating the performance of our other executive officers in light of any goals and objectives of the Company\u2019s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation of the other executive officers; \u200b \u2022 Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; \u200b \u2022 Reviewing the executive compensation plans in light of the Company\u2019s goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and \u200b \u2022 Appointing and overseeing any compensation consultants. \u200b Independence The Compensation Committee is composed entirely of directors who are independent under the Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as non-employee directors under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 16 of this Proxy Statement for a discussion of the role of our executive officers and compensation consultant in determining executive compensation. \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b187", + "block_sequence": 187, + "block_sha256": "01bbd1b4dcbf879443b5ade2c135a4cb7af8f0ddbc6348d762b7c619a4155ea2", + "block_type": "heading", + "char_count": 34, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 187, + "char_end": 34, + "char_start": 0, + "fragment_sha256": "68dbf8fb2e976b82f19d6739dc86c2e0f538c3f77708d576ad5452c2f5b9e978", + "heading_path": [ + "DEF 14A", + "The Board\u2019s Role in Risk Oversight" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s50", + "table": null, + "text": "The Board\u2019s Role in Risk Oversight" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b188", + "block_sequence": 188, + "block_sha256": "d5ba839ebca7610f0b678068130eb2ff6d61d4e613e0178cb8e6f557a3c02edc", + "block_type": "paragraph", + "char_count": 1948, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 188, + "char_end": 1948, + "char_start": 0, + "fragment_sha256": "3f64286f25b96e605b705db0b402c1fab4fcdb4f05aed89e1422f34d067c2289", + "heading_path": [ + "DEF 14A", + "The Board\u2019s Role in Risk Oversight" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s50", + "table": null, + "text": "The Board recognizes that the achievement of our strategic and commercial objectives involves taking risks and that those risks may evolve over time. The Board has oversight responsibility for Opendoor\u2019s risk management function, which is designed to identify, assess and monitor fundamental financial and business risks across the Company\u2019s operations and consider ways to address and mitigate those risks. Consistent with this approach, one of the Board\u2019s primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company, including risks related to the ongoing COVID-19 pandemic. In addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. The Audit Committee reviews and discusses guidelines and policies governing the process by which senior management assesses and manages the Company\u2019s exposure to risk, as well as the Company\u2019s major financial risk exposures and the steps management has taken to monitor and control such exposures; The Compensation Committee, in approving and evaluating the Company\u2019s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company\u2019s compensation arrangements; and The Nominating and Corporate Governance Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s51", + "table": null, + "text": "Hedging of Company Securities" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b198", + "block_sequence": 198, + "block_sha256": "8d7b92854e20f165d30102e0714e998362bf2f0d6fc348d663a3abedd58ce2d2", + "block_type": "paragraph", + "char_count": 925, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 198, + "char_end": 925, + "char_start": 0, + "fragment_sha256": "902f001564f52867de8004034bb7901acbde3c9626766c8b596d7b6d5de3e79b", + "heading_path": [ + "DEF 14A", + "Hedging of Company Securities" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s51", + "table": null, + "text": "We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company\u2019s securities. Directors, officers and employees of the Company are therefore prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading and Trading Window Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company\u2019s equity securities whether they are granted to such individual by the Company as part of such person\u2019s compensation or otherwise held, directly or indirectly, by such individual." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b199", + "block_sequence": 199, + "block_sha256": "c903f22e60ec27ed099f1896b2a70cd245c413b6f5ffd1d16fefd408d6516b4e", + "block_type": "heading", + "char_count": 32, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 199, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "819ab953e519ca071d2c1bb1a82499f38cf076784810d305296e27e7f5c72815", + "heading_path": [ + "DEF 14A", + "Communications from Stockholders" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s52", + "table": null, + "text": "Communications from Stockholders" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b200", + "block_sequence": 200, + "block_sha256": "9a6002a08736a862c855b4b448f6d5d2b75bd36e2748b27ab215e2537bd35558", + "block_type": "paragraph", + "char_count": 1087, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 200, + "char_end": 1087, + "char_start": 0, + "fragment_sha256": "6951208ad3504744e70d7a7e3b108eeba644121326dd2b16909f12aee243289c", + "heading_path": [ + "DEF 14A", + "Communications from Stockholders" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s52", + "table": null, + "text": "The Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Our Secretary is primarily responsible for monitoring communications from stockholders and for providing copies or summaries to the directors, as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and Chairperson of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Beth Stevens, Head of Legal and Secretary, Opendoor Technologies Inc., 410 N. 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"locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 206, + "char_end": 2474, + "char_start": 0, + "fragment_sha256": "45371226e0407f3d99501b8d74b64d6eb5303dee10600e100fa6a16ca2e0c057", + "heading_path": [ + "DEF 14A", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s53", + "table": null, + "text": "Mr. Wu is a member of our Board. See \u201cProposal One \u2014 Election of Directors\u201d for more information about Mr. Wu. Carrie Wheeler has served as our Chief Financial Officer since December 2020 and as Opendoor Lab Inc.\u2019s Chief Financial Officer since September 2020. She was a member of Opendoor Labs Inc.\u2019s board of directors from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer/\u200bRetail Investing. Ms. Wheeler currently serves on the board of directors and audit committee of Dollar Tree, Inc. and on the board of directors, audit committee and compensation committee of APi Group Corporation. She has previously served on a number of other corporate boards, including Neiman Marcus Group, Inc. and Petco Animal Supplies, Inc. Ms. Wheeler holds a Bachelor of Commerce from Queen\u2019s University. Andrew Low Ah Kee has served as our President since December 2020 and as Opendoor Labs Inc.\u2019s President since November 2020. Mr. Low Ah Kee previously served in a range of executive positions at GoDaddy from 2014 to 2020, most recently as Chief Operating Officer. Prior to joining GoDaddy in 2014, Mr. Low Ah Kee was a Director at KKR Capstone where he worked closely with the Consumer, Technology and Media investment teams at KKR & Co. L.P. to evaluate investment opportunities and accelerate portfolio company growth. Before KKR, Mr. Low Ah Kee was a consultant with the Boston Consulting Group. Mr. Low Ah Kee holds a Bachelor of Applied Science from the University of Toronto and an M.B.A. from Harvard Business School. Ian Wong co-founded Opendoor and has served as our Chief Technology Officer since December 2020. Mr. Wong also served as Opendoor Labs Inc.\u2019s Chief Technology Officer since April 2014. Mr. Wong previously held roles as a software engineer at Prismatic, Inc., a social news discovery company, and as an inference scientist at Square, Inc., a mobile payment company. Mr. Wong holds a B.S. and M.S. in Electrical Engineering and an M.S. in Statistics from Stanford University. Tom Willerer has served as our Chief Product Officer since December 2020 and as Opendoor Labs Inc.\u2019s Chief Product Officer since September 2019. Mr. Willerer served as a partner at Venrock Ltd., a venture capital firm, from November 2017 to October 2019. Mr. Willerer served as Chief Product Officer at Coursera Inc., an e-learning company, from 2013 to November 2017. 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Mr. Willerer is a member of the board of directors of Make School, a computer science higher education company. Mr. Willerer holds a B.A. in Business from Kelley School of Business at Indiana University and an M.A. in New Media Studies from DePaul University. Daniel Morillo has served as our Chief Investment Officer since January 2021. Prior to joining Opendoor, Mr. Morillo served as a Managing Director and Head of Quantitative Research at Citadel between September 2015 and December 2020. Mr. Morillo previously served as the Global Head of Investment Research for Incapture Investments and the co-head of BlackRock\u2019s Model and Portfolio Solutions group. Mr. Morillo holds a B.S. in economics from Universidad San Fran de Quito, an M.S. in statistics from the University of Illinois, and a Ph.D. in econometrics from the University of Illinois. Elizabeth Stevens has served as our Head of Legal since December 2020 and as Opendoor Labs Inc.\u2019s Head of Legal since December 2016 and as our Corporate Secretary since December 2019. Prior to joining Opendoor, Ms. Stevens served as the General Counsel of Earnest Inc., a consumer lending company. Ms. Stevens previously served as the General Counsel of Sidecar Technologies Inc., a ride-sharing company. Ms. Stevens holds a B.A. in Economics from Northwestern University, a J.D. from Northwestern University School of Law and an M.B.A. from the Kellogg School of Management at Northwestern University. 15" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b210", + "block_sequence": 210, + "block_sha256": "2043634619f1883be33054563fb2b4ba6db8bed2ee6328055f9ee441b9028e0a", + "block_type": "page_header", + "char_count": 18, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 210, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "bd0d172ec4fb8aaa563c19dc2a8e81e8f7c19a46ac12333d86ff3303c712d0cb", + "heading_path": [ + "DEF 14A", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s53", + "table": null, + "text": "TABLE OF CONTENTS\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b211", + "block_sequence": 211, + "block_sha256": "f558cc845a329e556ba226a1bf8a1f08f5227b7d28853f3f626ee4d261107451", + "block_type": "heading", + "char_count": 22, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 211, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "f190551baa736c79fa49d28cdec761c87e24148527c1072bca65d0d175b8400e", + "heading_path": [ + "DEF 14A", + "Our Executive Officers", + "EXECUTIVE COMPENSATION" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s54", + "table": null, + "text": "EXECUTIVE COMPENSATION" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b212", + "block_sequence": 212, + "block_sha256": "d6e372e52444d22aa56a0aef8a82d6d8fe5b879143cf2ec83dd6ce90165e1bbc", + "block_type": "heading", + "char_count": 36, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 212, + "char_end": 36, + "char_start": 0, + "fragment_sha256": "071702e279484324a6b01f7d3751821733cd1fb360fd500c85abb1960f7808e7", + "heading_path": [ + "DEF 14A", + "Compensation Discussion and Analysis" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s55", + "table": null, + "text": "Compensation Discussion and Analysis" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b213", + "block_sequence": 213, + "block_sha256": "de86e508ed5cc6cecc2ab9310c3041820005732df367dcc9b5ec8675c62f3574", + "block_type": "paragraph", + "char_count": 1464, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 213, + "char_end": 1464, + "char_start": 0, + "fragment_sha256": "fe8b272e6bf151e610915731bfc442d363487811b5c90a31d2f017c3dcf21eac", + "heading_path": [ + "DEF 14A", + "Compensation Discussion and Analysis" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s55", + "table": null, + "text": "This Compensation Discussion and Analysis describes our compensation program in 2020 for our named executive officers, including elements of the program, material decisions made under the program for 2020 and material factors considered in making those decisions. Our named executive officers for 2020 are: Eric Wu, our Chief Executive Officer (\u201cCEO\u201d); Carrie Wheeler, our Chief Financial Officer (\u201cCFO\u201d); Gautam Gupta, our former CFO and former Chief Operating Officer; Elizabeth Stevens, our Head of Legal; Julie Todaro, our former President of Homes and Services; and Tom Willerer, our Chief Product Officer. Eric Wu served as our President until November 2020 when Andrew Low Ah Kee joined us and was appointed as our President. Carrie Wheeler was appointed as our Chief Financial Officer in September 2020. Gautam Gupta, our Chief Operating Officer from July 2017 to December 2019, was appointed as our Chief Financial Officer in December 2019 and served in such capacity until September 2020, when Carrie Wheeler was appointed as our Chief Financial Officer. Mr. Gupta then served as a strategic advisor to our business from September 2020 until his separation from us in October 2020. As of the date of this proxy statement, Mr. Gupta is no longer an employee of the Company. 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The amount of compensation awarded in these circumstances is established based on the executive officer\u2019s role and responsibilities, long-term potential, and our expectations as to the officer\u2019s individual performance or Company performance." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b231", + "block_sequence": 231, + "block_sha256": "db042552c95c6865fa32e8880e229a47989a3f5eb83f3efd8dcdc08769058938", + "block_type": "heading", + "char_count": 29, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 231, + "char_end": 29, + "char_start": 0, + "fragment_sha256": "b3a99c3d4b1e7a35313837e350dd247a66b81e45242ed591736dde0b2500d52b", + "heading_path": [ + "DEF 14A", + "Determination of Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s58", + "table": null, + "text": "Determination of Compensation" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b232", + "block_sequence": 232, + "block_sha256": "dd5616f3133427621f1bee0566407f51c509af83e10b2380eefa2522470381a4", + "block_type": "heading", + "char_count": 57, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 232, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "f231993c55029c9c0e871ccdade643b4a65bffb493fa5419aaf12c7ed5d2a4bf", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Role of Our Compensation Committee and Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "Role of Our Compensation Committee and Executive Officers" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b233", + "block_sequence": 233, + "block_sha256": "0e3ab6d2fc144aa65973072b356d0804b708b854c5d7bbbde7755384f9eb6081", + "block_type": "paragraph", + "char_count": 1150, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 233, + "char_end": 1150, + "char_start": 0, + "fragment_sha256": "75f4f6b6f37d2e6180ad78d4bbc391665a75f81f795db47f46cb7c0addb8d1f2", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Role of Our Compensation Committee and Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "With respect to the portion of 2020 that preceded the closing of the Business Combination, our executive compensation program was administered by the board of directors of Opendoor Labs Inc., based on recommendations from Opendoor Labs Inc.\u2019s Compensation Committee, which consisted of Jason Kilar and Glenn Solomon. The compensation of our named executive officers was first reviewed by Opendoor Labs Inc.\u2019s Compensation Committee. Our CEO discussed the compensation and performance of our named executive officers with Opendoor Labs Inc.\u2019s Compensation Committee. Management\u2019s recommendations were based upon a review of the performance of our named executive officers, the Company\u2019s overall performance and the assessment of each officer\u2019s contributions to such performance, internal pay equity considerations and the competitiveness of the market for each officer\u2019s services. Opendoor Labs Inc.\u2019s Compensation Committee then generally evaluated any recommended compensation adjustments or awards to named executive officers and made recommendations to the Opendoor Labs Inc. board of directors, which ultimately determined executive compensation." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b234", + "block_sequence": 234, + "block_sha256": "b17ef6d19c7a5b1ee83b907c595526dcb1eb06db8227d650d5dda0a9f4ce8cd9", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 234, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "16feeabbca9383d399aed05304200ef7546631b40aea57114eaf126341a2f4c9", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Role of Our Compensation Committee and Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "16" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b235", + "block_sequence": 235, + "block_sha256": "f586256cdff190bcab1d1fa5b05e1a78a6dbdbc8e9bd835b2899333707fb6435", + "block_type": "paragraph", + "char_count": 5406, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 235, + "char_end": 5406, + "char_start": 0, + "fragment_sha256": "feb9149517ee5312d3ccad6972e69bd9812cf27c18b405a881f596d82c5faefc", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Role of Our Compensation Committee and Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "TABLE OF CONTENTS Since the closing of the Business Combination, our executive compensation program has been administered primarily by our Compensation Committee. The compensation of our named executive officers will be reviewed at least annually by our Compensation Committee and will be informed by the recommendations of our CEO. Our Compensation Committee will then evaluate and determine any recommended compensation adjustments or awards to our named executive officers or make recommendations to the Board for final determination. Compensation Consultant To support our Compensation Committee in fulfilling its duties, we have retained a third-party compensation consultant to assist us with the design and evaluation of compensation for our executive officers and directors. Pursuant to its charter, our Compensation Committee has the sole authority to retain, and replace as needed, compensation consultants to provide independent advice to our Compensation Committee, as well as the sole authority to approve the consultants\u2019 fees and other terms and conditions of retention. Opendoor Labs Inc. first retained Compensia, Inc. (\u201cCompensia\u201d) in May 2018, although we did not engage Compensia to provide executive and director compensation consulting services and recommendations for compensation on a regular basis until 2019. During 2019, Opendoor Labs Inc.\u2019s Compensation Committee received advice, data and recommendations from Compensia pertaining to the appropriate amount, mix and vesting and other terms for our executive compensation programs. During 2020, Opendoor Labs Inc.\u2019s Compensation Committee received advice, data and recommendations from Compensia pertaining to certain equity grants made to our executive officers. In addition to the work Compensia performed for us in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or our Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us. During 2020, Compensia\u2019s fees for services to us unrelated to executive and director compensation did not exceed $120,000. Competitiveness of Our Executive Compensation Program For purposes of comparing our executive compensation against the competitive market for the year 2020, the Opendoor Labs Inc. Compensation Committee reviewed the compensation levels and practices of a group of companies that were comparable to Opendoor Labs Inc. in terms of financial characteristics (revenue and market cap/valuation) and industry (to the extent available) and/or reflect talent/labor market peers. Although the analysis of competitive market data provided guiding information and a broad market check, the Opendoor Labs Inc. Compensation Committee did not specifically benchmark compensation for our executive officers in terms of picking a particular percentile relative to other people with similar titles at peer group companies. Instead, the Compensation Committee used its subjective judgment in determining the total compensation for each executive officer and considered the compensation peer group data in conjunction with a number of factors, including an executive officer\u2019s individual skills and expertise, and the scope and criticality of each executive officer\u2019s role. Going forward, Opendoor\u2019s Compensation Committee will review the compensation peer group at least annually and make appropriate adjustments when needed, taking into account changes in our business and that of the companies in the peer group. Elements of Our Executive Compensation Program For 2020, the primary elements of our named executive officers\u2019 compensation were base salary and long-term equity incentive awards. In addition, certain of our named executive officers also received a sign-on or retention bonus payment in 2020. Base Salaries We provide a base salary as a fixed source of compensation for our named executive officers, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock and which, prior to the Business Combination, did not provide any opportunity for the officers to achieve liquidity. Our Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. However, our current practice is to not provide our executive officers with annual base salaries exceeding $350,000. Initial base salaries of our executive officers are established by taking into account their qualifications, experience, comparable market data and prior salary level. Thereafter, Opendoor Labs Inc.\u2019s Compensation Committee generally has reviewed, and adjusted as necessary, base salaries for each of our executive officers, at a minimum annually. In setting base salary levels for 2020, Opendoor Labs Inc.\u2019s Compensation Committee considered a range of factors, including: \u2022 the individual\u2019s anticipated responsibilities and experience; \u200b \u2022 our Compensation Committee members\u2019 collective experience and knowledge in compensating similarly situated individuals at other companies; and \u200b \u2022 the value of the executive officer\u2019s existing equity awards. \u200b 17" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b236", + "block_sequence": 236, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 236, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "The table below sets forth the annual base salary rates during 2020 for each named executive officer." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b238", + "block_sequence": 238, + "block_sha256": "573bea6cb2799966f49bbc26f14286999f2cf6e59cb224a6340216099796ba98", + "block_type": "table", + "char_count": 393, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 238, + "char_end": 393, + "char_start": 0, + "fragment_sha256": "f5adab23dfb926804ee8eb2d037825c94735f061269a827df095145be640104d", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Role of Our Compensation Committee and Executive Officers" + ], + "table_index": 20, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": { + "caption": 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\u200b | $ | 325,000(1) | \u200b | \u200b\n\u200b | Carrie Wheeler | \u200b | \u200b | \u200b | $ | 350,000(2) | \u200b | \u200b\n\u200b | Gautam Gupta | \u200b | \u200b | \u200b | $ | 350,000 | \u200b | \u200b\n\u200b | Julie Todaro | \u200b | \u200b | \u200b | $ | 350,000 | \u200b | \u200b\n\u200b | Tom Willerer | \u200b | \u200b | \u200b | $ | 350,000 | \u200b | \u200b\n\u200b | Elizabeth Stevens | \u200b | \u200b | \u200b | $ | 300,000 | \u200b | \u200b", + "rows": [ + [ + "\u200b", + "Named Executive Officer", + "\u200b", + "\u200b", + "2020 Annual Base Salary Rate", + "\u200b", + "", + "", + "" + ], + [ + "\u200b", + "Eric Wu", + "\u200b", + "\u200b", + "\u200b", + "$", + "325,000(1)", + "\u200b", + "\u200b" + ], + [ + "\u200b", + "Carrie Wheeler", + "\u200b", + "\u200b", + "\u200b", + "$", + "350,000(2)", + "\u200b", + "\u200b" + ], + [ + "\u200b", + "Gautam Gupta", + "\u200b", + "\u200b", + "\u200b", + "$", + "350,000", + "\u200b", + "\u200b" + ], + [ + "\u200b", + "Julie 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "Ms. Wheeler commenced her employment with the Company in September 2020. In January 2020, Mr. Wu, our CEO, entered into a new employment letter agreement, pursuant to which his base salary was increased from $275,000 to $325,000, effective January 1, 2020. The base salary increase was approved by Opendoor Labs Inc.\u2019s board of directors in order to provide Mr. Wu with a more competitive total annual cash compensation package that would align with those provided to similarly situated officers of peer companies. Mr. Wu donated his salary to a relief fund for Company employees affected by staff reductions in force for a portion of 2020. In March 2021, the Compensation Committee of the Board increased Ms. Stevens\u2019 annual base salary to $350,000." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b245", + "block_sequence": 245, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 245, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Role of Our Compensation Committee and Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", + "table": null, + "text": "\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b246", + "block_sequence": 246, + "block_sha256": "cd2181d08fe43562aa980904bbb3e77bd271c4ac5c1550975ccff87993fd2b53", + "block_type": "heading", + "char_count": 29, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 246, + "char_end": 29, + "char_start": 0, + "fragment_sha256": "efcc376b5743dd392822721ac07d86d83e72feebd74ccc39426b9cce0bbbc16a", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "Long-Term Equity Compensation" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b247", + "block_sequence": 247, + "block_sha256": "9891fd90e125c68de659788bde6c963bc8a6b2c8d7991db6385ffd125c26cee6", + "block_type": "paragraph", + "char_count": 1681, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 247, + "char_end": 1681, + "char_start": 0, + "fragment_sha256": "18387ef0abbda5459e8141edb1cf649422b68b5e71886f6ce948292c4757bb23", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "We believe that providing long-term incentives in the form of equity awards encourages our named executive officers to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our employees, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Compensation Committee and Board believe that equity awards align employees\u2019 interests and contributions with the long-term interests of the Company\u2019s stockholders. In addition, our Compensation Committee and Board believe that offering meaningful equity ownership in the Company is helpful in retaining our named executive officers and other key employees. At the time of hire, executive officers have generally been granted stock options, restricted stock units (\u201cRSUs\u201d), or a mix of stock options and RSUs, the size and precise terms of which are determined at the time of hire of the individual executive officer, taking into account the anticipated role, his or her qualifications, experience, comparable market data and prior compensation level. The table below sets forth the RSUs granted to our named executive officers during 2020. We did not grant any stock options to our named executive officers during 2020. The size of the equity awards granted to our named executive officers in 2020 was determined based on the factors described above. The number of RSUs in the table (and the footnotes and narrative that follow the table) has been adjusted to reflect the impact of the Business Combination." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b248", + "block_sequence": 248, + "block_sha256": "e4e9035cecfb16f0be779c0cd9c6f69fec16ba091c0cfa8fc8abff3de41e6f19", + "block_type": "table", + "char_count": 373, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 248, + "char_end": 373, + "char_start": 0, + "fragment_sha256": "0f5e2f8f7a2900db83a01a070e7155d78d9d164e95cd3636d6cb3f4ed643cc92", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": 21, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| \u200b | Named Executive Officer | \u200b | \u200b | RSUs Granted in 2020 (#)(1) | \u200b | | | |\n| \u200b | Eric Wu | \u200b | \u200b | \u200b | \u200b | 17,093,009(1) | \u200b | \u200b |\n| \u200b | Carrie Wheeler | \u200b | \u200b | \u200b | \u200b | 4,433,699(2) | \u200b | \u200b |\n| \u200b | Gautam Gupta | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | Julie Todaro | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | Tom Willerer | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | Elizabeth Stevens | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |", + "n_cols": 9, + "n_rows": 7, + "plain_text": "\u200b | Named Executive Officer | \u200b | \u200b | RSUs Granted in 2020 (#)(1) | \u200b | | | \n\u200b | Eric Wu | \u200b | \u200b | \u200b | \u200b | 17,093,009(1) | 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The \u201cService-Based Condition\u201d will be satisfied in 16 successive equal quarterly installments following November 1, 2019. The \u201cLiquidity Event Condition\u201d was satisfied in full upon the first to occur of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. 14,885,774 of Mr. Wu\u2019s RSUs will vest upon the satisfaction of performance-based vesting conditions. The performance-based vesting condition will be satisfied, subject to Mr. Wu\u2019s continued employment with us through each applicable vesting date, as to 1/6th of the RSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change of Control (as defined in Mr. Wu\u2019s employment letter agreement). These milestones are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b252", + "block_sequence": 252, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 252, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b253", + "block_sequence": 253, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 253, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b254", + "block_sequence": 254, + "block_sha256": "0e77e68ba5473d98840c3212f4a8cb801226494f1162c8001a9f4ed7b00cbaa8", + "block_type": "paragraph", + "char_count": 3, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 254, + "char_end": 3, + "char_start": 0, + "fragment_sha256": "be72cd78b75d92ffedc2cdc9510d574da3e40d4d89fc05f1f60a3db28056f08c", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "(2)" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b255", + "block_sequence": 255, + "block_sha256": "07a4c41153dd1b4600da1dc45039369809de6c95a9f633196250ad85d18781f6", + "block_type": "paragraph", + "char_count": 638, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 255, + "char_end": 638, + "char_start": 0, + "fragment_sha256": "c099411fb569ef9ac711b8d4b958a264edd8d1564436ff64c9db20d5cc9c2b50", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "50,160 of Ms. Wheeler\u2019s RSUs were granted to Ms. Wheeler in February 2020 in her capacity as a member of Opendoor Labs Inc.\u2019s board of directors (the \u201cWheeler Director RSUs\u201d). The Wheeler Director RSUs vested when the Liquidity Event Condition was satisfied. However, delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Wheeler\u2019s RSU grant agreements. The \u201cLiquidity Event Condition\u201d was satisfied if either of the following events occurred on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b256", + "block_sequence": 256, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 256, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b257", + "block_sequence": 257, + "block_sha256": "4ec9599fc203d176a301536c2e091a19bc852759b255bd6818810a42c5fed14a", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 257, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "fafae5d9ee31acef636929ec87b968dbead1f762e5dd1116f5d65008d80f07af", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "18" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b258", + "block_sequence": 258, + "block_sha256": "b194bb368d3fda981685bfa83c7ba8f53dbe4d787dbb9d3c5d670035873ca8de", + "block_type": "paragraph", + "char_count": 14233, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 258, + "char_end": 14233, + "char_start": 0, + "fragment_sha256": "504aab1e9a1ec117d459951ad7e6e9a3eb9347420c86cc828fde7e8ec87106a8", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term Equity Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", + "table": null, + "text": "TABLE OF CONTENTS statement filed under the Securities Act, for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. 4,383,541 of Ms. Wheeler\u2019s RSUs were granted to Ms. Wheeler in her capacity as our CFO (the \u201cWheeler CFO RSUs\u201d) and will vest only if both (i) a liquidity-based vesting condition and (ii) either (a) a time-based vesting condition, or (b) a performance-based vesting condition are satisfied, in each case, subject to Ms. Wheeler\u2019s continued employment with us through the applicable vesting date. The liquidity-based vesting condition was satisfied upon the closing of the Business Combination. 3,493,892 of the Wheeler CFO RSUs are subject to a time-based vesting condition whereby 25% of such RSUs vest on the first anniversary of Ms. Wheeler\u2019s employment start date with us (the \u201cWheeler Start Date\u201d) and 75% of such RSUs vest in substantially equal quarterly installments over a three-year period thereafter. 404,385 of the Wheeler CFO RSUs will begin vesting on the third anniversary of the Wheeler Start Date, subject to her continued employment with us on such date, and are subject to a time-based vesting condition whereby such RSUs vest in substantially equal quarterly installments over a two-year period following such anniversary. 485,262 of the Wheeler CFO RSUs are subject to a performance-based vesting condition whereby such RSUs vest upon the date on which the 60-day volume weighted-average closing price of the Company\u2019s publicly-traded class of common stock is at least $16.48 or (ii) Change of Control (as defined in the Ms. Wheeler\u2019s offer letter agreement) occurs in which the per share consideration is at least $16.48. \u200b Prior to any contemplation of the Business Combination, Opendoor Labs Inc.\u2019s board of directors, based on the recommendations of Compensia, determined to grant certain RSUs, described below as Pre-Listing RSUs and Post-Listing RSUs, to Mr. Wu to achieve the following objectives: (i) recognizing the unique market opportunity and extensive time horizon that Opendoor Labs Inc. would need to achieve its ultimate vision, (ii) supporting enduring CEO engagement and commitment, (iii) motivating Mr. Wu to create significant long-term stockholder value, and (iv) being fair and aligned with market, recognizing that there is a broad set of company peers. In September 2020, in anticipation of the Business Combination, Opendoor Labs Inc.\u2019s board of directors reapproved these RSU grants to Mr. Wu based on the recommendations of Compensia. In connection with negotiations regarding the Business Combination, it was agreed that the dilutive effect of the Post-Listing RSUs should be borne by Opendoor Labs Inc.\u2019s stockholders before the closing of the Business Combination. To achieve this goal, the Post-Listing RSUs were granted prior to the closing of the Business Combination on December 17, 2020. Providing that the Post-Listing RSU would vest only if certain price targets are met provides a retention element and strong alignment with Company stockholders. Specifically, pursuant to our continued employment letter agreement with Mr. Wu, entered into in January 2020 and amended in September 2020, Mr. Wu was granted 1,193,020 RSUs on February 6, 2020 and 1,014,215 RSUs on September 3, 2020 (together, the \u201cPre-Listing RSUs\u201d), which vest according to the vesting schedule set forth in footnote 1 to the table above. Pursuant to this letter agreement, Mr. Wu was also granted 14,885,774 RSUs on December 17, 2020 (the \u201cPost-Listing RSUs\u201d), which have a term of seven years and which vest according to the vesting schedule set forth in footnote 1 to the table above. During 2020, our Chief Product Officer, Mr. Willerer, entered into an amendment to his offer letter agreement which provided, among other things, that if his employment with us is terminated (i) by us without Cause (as defined in Mr. Willerer\u2019s offer letter agreement) or (ii) due to his resignation for Good Reason, in each case, within 12 months following a Change of Control (each such term as defined in his offer letter agreement), then 50% of all his then outstanding but unvested stock option and RSU awards, whether or not granted under his offer letter agreement, will automatically and immediately vest, subject to the timely execution and non-revocation of a general release of claims against us. Opendoor Labs Inc.\u2019s board of directors determined to enter into these offer letter agreement amendments prior to the contemplation of the Business Combination in order to assure the Company of the officers\u2019 continued services in the context of a potential Change of Control event. Pursuant to our offer letter agreement with Ms. Wheeler, entered into in September 2020, Ms. Wheeler was granted 3,979,154 RSUs on September 3, 2020 in two separate grants of 3,493,892 RSUs and 485,262 RSUs, each of which vests according to the applicable vesting schedule set forth in footnote 2 to the table above. Providing that the grant of 485,262 RSUs would vest only if certain price targets are met provides a retention element and strong alignment with Company stockholders. In connection with negotiations regarding the Business Combination, it was agreed that the dilutive effect of the grant of 404,385 RSUs should be borne by Opendoor Labs Inc.\u2019s stockholders before the closing of the Business Combination. To achieve this goal, these RSUs were granted prior to the closing of the Business Combination on December 17, 2020 and vest according to the vesting schedule set forth in footnote 2 to the table above. RSU Grants Under the 2020 Plan Certain of our employees are entitled to receive equity awards under the Opendoor Technologies Inc. 2020 Incentive Award Plan (the \u201c2020 Plan\u201d) during 2021, including (1) a grant to Mr. Wu covering a number of shares equal to 1/8th of the 2020 Plan\u2019s aggregate share reserve on the date of the closing of the Business Combination, and (2) grants to other Company employees covering, in the aggregate, 1/4th of the 2020 Plan\u2019s aggregate share reserve on the date of the closing of the Business Combination. Pursuant to this, on April 1, 2021, Mr. Wu received a grant of 5,438,506 RSUs under the 2020 Plan with the vesting start date (the \u201cVesting Commencement Date\u201d) set at January 15, 2021. These RSUs will vest in a series of 16 successive equal quarterly installments following the Vesting Commencement Date, subject to Mr. Wu\u2019s continuous service to the Company through each such vesting date. Notwithstanding the foregoing or anything in the 2020 Plan to the contrary, if (1) the Company consummates a Change in Control (as defined in the 2020 Plan) and (2) Mr. Wu\u2019s employment is terminated without Cause (as defined in his continued employment letter agreement with the Company, dated September 14, 2020 (the \u201cWu Agreement\u201d)) or if he resigns from the Company for Good Reason (as defined in the Wu Agreement) in connection with or within 12 months after the Change in Control, then, effective as of Mr. Wu\u2019s employment termination date, 100% of Mr. Wu\u2019s then-unvested RSUs will become fully vested, subject to certain terms and conditions. 19 TABLE OF CONTENTS On April 1, 2021, Elizabeth Stevens received grants of 121,316 RSUs and a grant of 153,684 RSUs with Vesting Commencement Dates of March 15, 2021 and June 15, 2021, respectively. With respect to the grant of 121,316 RSUs, 25% of such RSUs vested on the Vesting Commencement Date of such grant, and 75% of such RSUs will vest on the one-year anniversary of that Vesting Commencement Date, subject to Ms. Stevens\u2019 continuous service to the Company through such vesting date. With respect to the grant of 153,684 RSUs, 25% of such RSUs will vest on the Vesting Commencement Date of such grant, 50% of such RSUs will vest on the one-year anniversary of that Vesting Commencement Date, and 25% of such RSUs will vest on the two-year anniversary of that Vesting Commencement Date, subject to Ms. Stevens\u2019 continuous service to the Company through each such vesting date. Notwithstanding the foregoing or anything in the 2020 Plan to the contrary, if (1) the Company consummates a Change in Control and (2) Ms. Stevens\u2019 employment is terminated without Cause (as defined in the agreements evidencing the grant of her RSU awards (the \u201cStevens RSU Agreements\u201d)) or if participant resigns from the Company for Good Reason (as defined in the Stevens RSU Agreements) in connection with or within 12 months after the Change in Control, then effective as of Ms. Stevens\u2019 employment termination date, 100% of Ms. Stevens\u2019 then-unvested RSUs will become fully vested, subject to certain terms and conditions. The above grants were determined following the Compensation Committee\u2019s review of peer group information, advice provided by the Company\u2019s compensation consultants, market rates for employee and consultant compensation, the economic position of the Company, broader economic conditions, the Company\u2019s historical employee and consultant compensation structure, and the potential dilutive effect of equity awards on the Company\u2019s stockholders. Sign-On and Retention Bonuses In order to attract top talent, we from time to time provide sign-on and retention compensation to external hires. In connection with the hire of Mr. Gupta in July 2017, we approved a one-time cash sign-on and retention bonus in the aggregate amount of $550,000, $150,000 of which was paid within 30 days after his employment start date, $125,000 of which was paid within 30 days after the first anniversary of his employment start date, and the remaining $275,000 of which was paid within 30 days after the second anniversary of his employment start date. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Mr. Gupta through the second anniversary of his employment start date. In connection with the hire of Mr. Willerer in July 2019, we approved a one-time cash sign-on and retention bonus in the aggregate amount of $190,000, $95,000 of which was paid within 30 days after his employment start date, and the remaining $95,000 of which is to be paid within 30 days after the first anniversary of his employment start date, subject to his continuous active employment with us through such anniversary date. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Mr. Willerer through the first anniversary of his employment start date. In connection with the hire of Ms. Todaro in September 2019, we approved a cash sign-on and retention bonus in the aggregate amount of $150,000, $75,000 of which was paid within 30 days after her employment start date, and the remaining $75,000 of which is to be paid within 30 days after the first anniversary of her employment start date, subject to her continuous active employment with us through such anniversary date. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Ms. Todaro through the first anniversary of her employment start date. In September 2019, we entered into a retention bonus agreement with Ms. Stevens (the \u201cStevens Retention Agreement\u201d) pursuant to which Ms. Stevens was entitled to receive a retention bonus in the aggregate amount of $125,000 in two separate installments, subject to her continuous active employment with us through certain predetermined dates. Pursuant to the terms of the Stevens Retention Agreement, Ms. Stevens was paid a bonus of $50,000 within 30 days following December 15, 2019 and was paid a bonus of $75,000 within 30 days following August 31, 2020. We believed that this retention bonus arrangement was appropriate as an incentive to help retain Ms. Stevens through each retention bonus installment date. In connection with the hire of Ms. Wheeler in September 2020, we approved a one-time cash sign-on and retention bonus in the aggregate amount of $100,000, net of applicable taxes, which was paid within five business days after her employment start date. However, if Ms. Wheeler resigns without Good Reason or is terminated by us for Cause (each, as defined in her offer letter agreement) at any time prior to the first anniversary of her employment start date, she is required to repay us the entire $100,000, less any non-refundable taxes, within 30 days after her last day of employment with us. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Ms. Wheeler through the first anniversary of her employment start date. Retirement Plans and Other Employee Benefits Our named executive officers are eligible to participate in our employee benefit plans and programs, including medical and dental benefits and life insurance, to the same extent as our other full-time employees, subject to the terms and eligibility requirements of those plans. We also sponsor a 401(k) defined contribution plan (the \u201c401(k) Plan\u201d), in which our named executive officers may participate, subject to limits imposed by the Internal Revenue Code of 1986, as amended, to the same extent as our other full-time employees. We believe that providing a vehicle for tax-deferred retirement savings though our 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers, 20 TABLE OF CONTENTS in accordance with our compensation policies. We do not typically provide any perquisites or special personal benefits to our named executive officers that are not available to all employees generally. In connection with the grant of stock options to Mr. Gupta in September 2017, Opendoor Labs Inc. granted Mr. Gupta the ability to exercise his option award up to an aggregate exercise price of $1.5 million with a 51% recourse promissory note (and pledge and security agreement) from Opendoor Labs Inc. dated March 29, 2018, bearing interest at the rate of 2.31% per annum, compounding annually. 21" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b259", + "block_sequence": 259, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 259, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Determination of Compensation", + "Long-Term 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134, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 262, + "char_end": 134, + "char_start": 0, + "fragment_sha256": "9640ae706772ffe5d164d1aa336aa137b259472cb620f94cafe620972432c8c5", + "heading_path": [ + "DEF 14A", + "2020 Summary Compensation Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s62", + "table": null, + "text": "The table below shows compensation of our named executive officers for the fiscal years ended December 31, 2019 and December 31, 2020." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b263", + "block_sequence": 263, + "block_sha256": "a0cf91cd0e0215299e3abe93990d044e50a1b621d1fe5971b5ae4c9b18a2b6e1", + "block_type": "table", + "char_count": 2660, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + 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\u200b | Stock Awards ($)(2) | \u200b | \u200b | Option Awards ($)(2) | \u200b | \u200b | All Other Compensation ($) | \u200b | \u200b | Total ($) | \u200b | | | | | | | | | | | | | | | | | | | | | |\n| Eric Wu Chief Executive Officer | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 189,584(3) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 370,051,408(4) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 370,240,992 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b | \u200b | \u200b | 275,000 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 275,000 | \u200b | \u200b | | |\n| Carrie Wheeler Chief Financial Officer | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 114,722 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,000 | \u200b | \u200b | \u200b | \u200b | \u200b | 50,060,723(5) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 50,275,445 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | |\n| Gautam Gupta Former Chief Financial Officer | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 231,625 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 231,625 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b | \u200b | \u200b | 337,500 | \u200b | \u200b | \u200b | \u200b | \u200b | 275,000 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 612,500 | \u200b | \u200b | | |\n| Julie Todaro Former President of Homes and Services | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 350,000 | \u200b | \u200b | \u200b | \u200b | \u200b | 75,000 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 425,000 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b | \u200b | \u200b | 87,500 | \u200b | \u200b | \u200b | \u200b | \u200b | 75,000 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,980,857 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,970,949 | \u200b | \u200b | \u200b | \u200b | \u200b | 234,667 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,348,973 | \u200b | \u200b | | |\n| Tom Willerer Chief Product Officer | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 350,000 | \u200b | \u200b | \u200b | \u200b | \u200b | 95,000 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 445,000 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b | \u200b | \u200b | 118,490 | \u200b | \u200b | \u200b | \u200b | \u200b | 95,000 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,418,620 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,331,280 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 6,963,390 | \u200b | \u200b | | |\n| Elizabeth Stevens Head of Legal | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 300,000 | \u200b | \u200b | \u200b | \u200b | \u200b | 75,000 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 375,000 | \u200b | \u200b |", + "n_cols": 44, + "n_rows": 12, + "plain_text": "Name and Principal Position | \u200b | \u200b | Year | \u200b | \u200b | Salary ($) | \u200b | \u200b | Bonus ($)(1) | \u200b | \u200b | Stock Awards ($)(2) | \u200b | \u200b | Option Awards ($)(2) | \u200b | \u200b | All Other Compensation ($) | \u200b | \u200b | Total ($) | \u200b | | | | | | | | | | | | | | | | | | | | | \nEric Wu Chief Executive Officer | \u200b | \u200b | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b | \u200b | \u200b | 189,584(3) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 370,051,408(4) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 370,240,992 | \u200b | \u200b\n\u200b | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b | \u200b | \u200b | 275,000 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 275,000 | \u200b | \u200b | | \nCarrie Wheeler Chief Financial Officer | 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These amounts do not reflect the actual economic value that may be realized by the named executive officer. For additional information regarding the stock-based awards granted to our named executive officers in 2019, please see Note 14. Share-Based Awards to the consolidated financial statements included in our Annual Report on Form 10-K. 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As a result of an inadvertent payroll error that was discovered on February 18, 2021 related to the temporary reduction of his salary, $81,250 of the salary Mr. Wu earned in 2020 was not paid until February 26, 2021. 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Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. 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The maximum grant date fair value of RSUs granted to Mr. Wu in 2020 that are subject to performance-based vesting conditions is $438,237,347, which assumes the achievement of the highest level of such performance conditions. (3) This amount represents the grant date fair value of RSUs which are subject to performance-based vesting conditions (as described below in the section entitled \u201c\u2014\u200bCarrie Wheeler Offer Letter Agreement\u201d), which is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of RSUs granted to Ms. Wheeler in 2020 that are subject to performance-based vesting conditions is $4,815,000, which assumes the achievement of the highest level of such performance conditions. \u200b Eric Wu Continued Employment Letter Agreement We entered into a continued employment letter agreement with Mr. Wu in January 2020, which the Opendoor Labs Inc. board of directors negotiated prior to the contemplation of the Business Combination, which was subsequently amended and restated in September 2020 (as amended, the \u201cWu Agreement\u201d). The Wu Agreement provides for an unspecified term of employment and entitles Mr. Wu to an annual base salary of $325,000 as well as certain RSU awards (each shown here as adjusted to reflect the Business Combination). Pursuant to the Wu Agreement, Mr. Wu was granted 1,193,020 RSUs on February 6, 2020 and 1,014,215 RSUs on September 3, 2020 (together, the \u201cPre-Listing RSUs\u201d), which will vest only if both the \u201cService-Based Condition\u201d and the \u201cLiquidity Event Condition\u201d \u200b(each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Mr. Wu\u2019s RSU grant agreements. The Service-Based Condition applicable to the Pre-Listing RSUs will be satisfied in 16 successive equal quarterly installments following November 1, 2019. The Liquidity Event Condition applicable to the Pre-Listing RSUs was satisfied in full upon the first to occur of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. However, delivery of shares subject to fully-vested RSUs may be delayed in accordance with the terms of the 2014 Plan and Mr. Wu\u2019s RSU grant agreements. Pursuant to the Wu Agreement, Mr. Wu was also granted the Post-Listing RSUs, which have a term of seven years and vest upon (i) the occurrence of a \u201cListing Event\u201d \u200b(as defined in the Wu Agreement) and (ii) the satisfaction of performance-based vesting conditions. The closing of the Business Combination satisfied the \u201cListing Event\u201d vesting condition. The Post-Listing RSUs will satisfy the performance-based vesting condition, subject to Mr. Wu\u2019s continued employment with us through each applicable vesting date, as to 1/6th of the Post-Listing RSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change of Control (as defined in the Wu Agreement). These milestones (as adjusted to reflect the Business Combination) are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23. In the event Mr. Wu\u2019s employment with us is terminated (i) by us without Cause (as defined below) or (ii) due to his resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 100% of Mr. Wu\u2019s Pre-Listing RSUs will become immediately vested. In addition, if Mr. Wu\u2019s employment is terminated (i) by us without Cause or (ii) due to his resignation for Good Reason, regardless of whether a Change of Control has occurred, the Post-Listing RSUs shall remain outstanding and eligible to vest upon achievement of the share price milestones for a period of 60 days following the date of termination. The acceleration of the Pre-Listing RSUs is subject to Mr. Wu\u2019s continued compliance with our Confidential Information and Invention Assignment Agreement and his timely execution and non-revocation of a general release of claims against us. This agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Wu Agreement: \u2022 \u201cCause\u201d is generally defined to mean, subject to certain notice requirements and cure rights, Mr. Wu\u2019s: (i) material breach of the his employment agreement, the Confidential Information and Invention Assignment Agreement or any material written policy of the Company; (ii) intentional repeated willful misconduct or gross neglect of his duties; (iii) his willful repeated failure to follow reasonable and lawful instructions from our Board; (iv) his conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (v) his commission of or participation in an act of fraud against the Company; or (vi) his intentional material damage to the Company\u2019s business, property or reputation. \u200b \u2022 \u201cGood Reason\u201d is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in his job responsibilities, duties, authority, or title (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in job responsibilities); (ii) a material reduction in his level of base compensation or total compensation unless such reduction is in connection and proportional to reductions to the compensation reductions to the other members of the management team and such reduction does not exceed 20% of his total cash compensation; (iii) a material breach of his employment agreement or the Confidential Information and Invention Assignment Agreement by the Company; or (iv) a relocation of his principal place of employment that increases his one-way commute by more than 45 miles. \u200b Carrie Wheeler Offer Letter Agreement Our offer letter agreement with Ms. Wheeler (as amended, the \u201cWheeler Agreement\u201d) provides for an unspecified term of employment and entitles her to a sign-on and retention bonus of $100,000 (which has been paid and is subject to the terms described above in 23 TABLE OF CONTENTS the section entitled \u201cCompensation Discussion and Analysis \u2014 Sign-On and Retention Bonuses\u201d), an annual base salary of $350,000, and certain RSU awards (each shown here as adjusted to reflect the Business Combination). Pursuant to the Wheeler Agreement, Ms. Wheeler, was entitled to receive the Wheeler CFO RSUs that are described above in the section entitled \u201cCompensation Discussion and Analysis \u2014 Long-Term Equity Compensation\u201d. Pursuant to the Wheeler Agreement, any equity awards Ms. Wheeler received in connection with her service as a member of our Board that were unvested as of the Wheeler Start Date became fully vested as to any service-based vesting conditions as of such date (but, for the avoidance of doubt, remained subject to any liquidity-based vesting conditions, which have not yet been met). In the event Ms. Wheeler\u2019s employment with us is terminated (i) by us without Cause (as defined below) or (ii) due to her resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 100% of the Wheeler CFO RSUs with time-based vesting will become immediately vested. In addition, if Ms. Wheeler\u2019s employment with us is terminated (i) by us without Cause or (ii) due to her resignation for Good Reason, in each case, prior to such time as the performance-based vesting criteria for her RSUs subject to performance-based vesting are satisfied, such RSUs shall remaining outstanding and shall vest if the applicable performance-based vesting criteria are satisfied within 60 days of such termination. In addition, if Ms. Wheeler\u2019s employment with us is terminated (i) by us without Cause or (ii) due to her resignation for Good Reason, in each case, prior to the first anniversary of the Wheeler Start Date, then be vested in 25% of the Wheeler CFO RSUs with time-based vesting that were granted on the Wheeler Start Date will vest. If such termination occurs within 12 months following a Change of Control, then 100% of the Wheeler CFO RSUs with time-based vesting that were granted on the Wheeler Start Date will vest. The Business Combination did not constitute a Change of Control. The acceleration of the Wheeler CFO RSUs described herein is subject to Ms. Wheeler\u2019s continued compliance with our Confidential Information and Invention Assignment Agreement and her timely execution and non-revocation of a general release of claims against us. The Wheeler Agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Wheeler Agreement: \u2022 \u201cCause\u201d is generally defined to mean, subject to certain notice requirements and cure rights, Ms. Wheeler\u2019s: (i) material breach of the Wheeler Agreement, the Confidential Information and Invention Assignment Agreement or any material written policy of the Company; (ii) intentional repeated willful misconduct or gross neglect of her duties; (iii) her willful repeated failure to follow reasonable and lawful instructions from the Board; (iv) her conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (v) her commission of or participation in an act of fraud against the Company; or (vi) her intentional material damage to the Company\u2019s business, property or reputation. \u200b \u2022 \u201cGood Reason\u201d is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in Ms. Wheeler\u2019s job responsibilities, duties, authority, or title (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in job responsibilities); (ii) a change in her reporting requirements so that she is no longer reporting solely to the person serving as the chief executive officer of the Company and/or the Board (provided that a change in reporting structure such that she reports primarily to such chief executive officer and/or Board of the Company following a Change of Control shall not constitute a change in her reporting requirements under this clause), (iii) a material reduction in her level of base compensation or total compensation unless such reduction is in connection and proportional to reductions to the compensation reductions to the other members of the management team and such reduction does not exceed 20% of her total cash compensation; (iv) a material breach of the Wheeler Agreement or the Confidential Information and Invention Assignment Agreement by the Company; or (v) the requirement by the Company that she transfer her place of employment to a location that is outside of the greater San Francisco Bay Area. \u200b Gautam Gupta Offer Letter Agreement Our offer letter agreement with Mr. Gupta (as amended, the \u201cGupta Agreement\u201d) provided for an unspecified term of employment and entitled him to an annual base salary, a one-time sign-on and retention bonus (which has been fully paid as described above in the section entitled \u201cCompensation Discussion and Analysis \u2014 Sign-On and Retention Bonuses\u201d), and an award of stock options. Mr. Gupta had the right to early exercise his option award up to an aggregate exercise price of $1,500,000 with a 51% recourse promissory note (and pledge and security agreement) from the Company, and he exercised this right with respect to 1,466,501 shares of Opendoor Labs Inc. common stock in March 2018. Mr. Gupta\u2019s stock options will expire in 2027 on the date set forth in his option agreement. Julie Todaro Offer Letter Agreement Our offer letter agreement with Ms. Todaro (as amended, the \u201cTodaro Agreement\u201d) provides for an unspecified term of employment and entitles Ms. Todaro to an annual base salary, a one-time sign-on and retention bonus (which has been paid and is subject to the terms described above in the section entitled \u201cCompensation Discussion and Analysis \u2014 Sign-On and Retention Bonuses\u201d), an award of stock options and an award of RSUs. The Todaro Agreement provides that Ms. Todaro\u2019s option award will vest over four years following her employment start date with 25% vesting on the first anniversary of her start date and the remainder vesting in equal 24 TABLE OF CONTENTS monthly installments thereafter, subject to her continued employment on each such vesting date. The Todaro Agreement provides that Ms. Todaro\u2019s RSU award will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Todaro\u2019s RSU grant agreements. The \u201cService-Based Condition\u201d will be satisfied, subject to Ms. Todaro\u2019s continued employment through each such date, as to 25% of the total RSUs on the first anniversary of the RSU award\u2019s vesting start date, and as to 1/16th of the total RSUs on a quarterly basis thereafter. The \u201cLiquidity Event Condition was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. In the event Ms. Todaro\u2019s employment with us is terminated (i) by us without Cause (as defined below) or (ii) due to her resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 50% of her then outstanding but unvested stock option and RSU awards granted under the Todaro Agreement will automatically and immediately vest, subject to the timely execution and non-revocation of a general release of claims against us. The Todaro Agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Todaro Agreement, \u201cCause\u201d is generally defined to mean, subject to certain notice requirements and cure rights, Ms. Todaro\u2019s: (i) material breach of any material written agreement between her and the Company; (ii) failure to comply with the Company\u2019s material written policies or rules as they may be in effect from time to time; (iii) neglect or persistent unsatisfactory performance of her duties; (iv) repeated failure to follow reasonable and lawful instructions from our Board; (v) conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (vi) commission of or participation in an act of fraud against the Company; (vii) intentional material damage to the Company\u2019s business, property or reputation; or (viii) unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom he owes an obligation of nondisclosure as a result of his relationship with the Company. For purposes of the Todaro Agreement, \u201cGood Reason\u201d is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in her job responsibilities, duties, authority, or title (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in job responsibilities); (ii) a material reduction in her level of base compensation or total compensation unless such reduction is in connection and proportional to reductions to the compensation reductions to the other members of the management team and such reduction does not exceed 20% of her total cash compensation; or (iii) a relocation of her principal place of employment that increases her one-way commute by more than 45 miles. Tom Willerer Offer Letter Agreement Our offer letter agreement with Mr. Willerer (as amended, the \u201cWillerer Agreement\u201d) provides for an unspecified term of employment and entitles Mr. Willerer to an annual base salary, a one-time sign-on and retention bonus (which has been paid and is subject to the terms described above in the section entitled \u201cCompensation Discussion and Analysis \u2014 Sign-On and Retention Bonuses\u201d), an award of stock options and an award of RSUs. The Willerer Agreement provides that Mr. Willerer\u2019s option award will vest over four years following his employment start date with 25% vesting on the first anniversary of his start date and the remainder vesting in equal monthly installments thereafter, subject to his continued employment on each such vesting date. The Willerer Agreement provides that Mr. Willerer\u2019s RSU award will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Mr. Willerer\u2019s RSU grant agreements. The \u201cService-Based Condition\u201d will be satisfied, subject to continued employment through each such date, as to 25% of the total RSUs on the first anniversary of the RSU award\u2019s vesting start date, and as to 1/16th of the total RSUs on a quarterly basis thereafter. The \u201cLiquidity Event Condition\u201d was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. In the event Mr. Willerer\u2019s employment with us is terminated (i) by us without Cause (as defined for purposes of the Todaro Agreement) or (ii) due to his resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 50% of all his then outstanding but unvested stock option and RSU awards, whether or not granted under the Willerer Agreement, will automatically and immediately vest, subject to the timely execution and non-revocation of a general release of claims against us. The Willerer Agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Willerer Agreement, \u201cGood Reason\u201d is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in his job responsibilities, duties, or authority (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in your job responsibilities, duties, or 25" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b292", + "block_sequence": 292, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 292, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b293", + "block_sequence": 293, + "block_sha256": "4a2bac79b9714b13e252b5eb7195a782e713aff775d74ee6b5a80e340074dfa0", + "block_type": "paragraph", + "char_count": 399, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 293, + "char_end": 399, + "char_start": 0, + "fragment_sha256": "761c398c34c507f11d0518e42f7a3726a3f23a4a8e9d6bc1601b576c27be2b18", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", + "table": null, + "text": "authority); (ii) a material reduction in his base salary unless such reduction is in connection with and proportional to reductions to the base salary of other members of the management team and such reduction does not exceed 20% of his base salary; or (iii) the requirement by the Company that he transfer his place of employment to a location that is outside of the greater San Francisco Bay Area." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b294", + "block_sequence": 294, + "block_sha256": "3cde0f4bc143fd2e3e9cae1a154e13ce0fab815eec501ebb47276161683675c9", + "block_type": "heading", + "char_count": 40, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 294, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "613dc7c13e0beebd73c9106f9df1c6bf0aaf55d612e92de083d8de55450f095f", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Elizabeth Stevens Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s64", + "table": null, + "text": "Elizabeth Stevens Offer Letter Agreement" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b295", + "block_sequence": 295, + "block_sha256": "c774be0decf60d8dae58a9ac4d0e8f76570ed3dce3c0ffd011fda09ae74d0e2b", + "block_type": "paragraph", + "char_count": 644, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 295, + "char_end": 644, + "char_start": 0, + "fragment_sha256": "983ae5df985df7fda95d3f08e310edc28b9dd3e2ff01693ae7f55d7b0250392d", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Elizabeth Stevens Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s64", + "table": null, + "text": "Our offer letter agreement with Ms. Stevens (as amended, the \u201cStevens Agreement\u201d) provides for an unspecified term of employment and entitles Ms. Stevens to an annual base salary and an award of stock options. The Stevens Agreement provided Ms. Stevens\u2019 with an option award that vested over four years following her employment start date with 25% vesting on the first anniversary of the vesting commencement date and the remainder vesting in equal monthly installments thereafter, subject to her continued employment on each such vesting date. The Stevens Agreement does not provide for any cash severance entitlements or benefit continuation." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b296", + "block_sequence": 296, + "block_sha256": "73159553df70dd742dc617e708059d1c904ca3cb3bcf38e0870561daed47132b", + "block_type": "heading", + "char_count": 60, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 296, + "char_end": 60, + "char_start": 0, + "fragment_sha256": "35f8c0d8e1ab108cb9c2cd24bc1a5050a0573df0b3cfa00e74dd6659835664e1", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Confidential Information and Invention Assignment Agreements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s65", + "table": null, + "text": "Confidential Information and Invention Assignment Agreements" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b297", + "block_sequence": 297, + "block_sha256": "70379b0e5afb2df6f3a3e41546f520c51c69bb065640fdf9ddb6e60591fe108a", + "block_type": "paragraph", + "char_count": 629, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 297, + "char_end": 629, + "char_start": 0, + "fragment_sha256": "2a8efb6d9b8102a13b42bc80de72b18fd3d5935ab016443d69ba30bec177e267", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Confidential Information and Invention Assignment Agreements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s65", + "table": null, + "text": "Pursuant to their offer letter agreements, each of our named executive officers has entered into a Confidential Information and Invention Assignment Agreement which contains, among other things, restrictive covenants pursuant to which such officers agree (i) to refrain from soliciting our customers during the term of their employment and (ii) to refrain from soliciting our employees during the term of their employment and for a period of 12 months thereafter. The Company\u2019s standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b298", + "block_sequence": 298, + "block_sha256": "3a3c67b539a0a3688d5a28bcc0fffba267cff3f390f0eb00da52ae26a772994e", + "block_type": "heading", + "char_count": 49, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 298, + "char_end": 49, + "char_start": 0, + "fragment_sha256": "48f622feb449c50b0a170d54d7bb2982d411701fb9eb35185ab406ef14e05d92", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", + "table": null, + "text": "Outstanding Equity Awards at 2020 Fiscal Year End" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b299", + "block_sequence": 299, + "block_sha256": "e936fa5d7138174c08eda094633cec83fa203930ba3fb88427ef7117e919deed", + "block_type": "paragraph", + "char_count": 241, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 299, + "char_end": 241, + "char_start": 0, + "fragment_sha256": "1c02715bbfda85e25f63715d4be03ca971600fd03356ee35ac3265df55b7bf34", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", + "table": null, + "text": "The figures in the table below show outstanding equity awards as of December 31, 2020. The number of shares subject to the awards, and the exercise prices for the options, have been adjusted to reflect the impact of the Business Combination." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b300", + "block_sequence": 300, + "block_sha256": "f071287008c1630c8a4911eca11b39a09de2bc741269349cadcccaf4350af3d8", + "block_type": "table", + "char_count": 4980, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 300, + "char_end": 4980, + "char_start": 0, + "fragment_sha256": "ddad2f6cbc62006063b9cd20271faaddd4990df75b684312360b41bfee6faab6", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": 24, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", + "table": { + "caption": null, + "flags": [ + "wide_table" + ], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| \u200b | \u200b | \u200b | Option Awards | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Name | \u200b | \u200b | Grant Date | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Exercisable | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Unexercisable | \u200b | \u200b | Option Exercise Price ($) | \u200b | \u200b | Option Expiration Date | \u200b | \u200b | Number of Shares or Units of Stock That Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($) (1) | \u200b | | | | | | | | | | | | | | | | | | | | | |\n| Eric Wu | \u200b | \u200b | \u200b | \u200b | 02/06/2020(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,193,020 | \u200b | \u200b | \u200b | \u200b | \u200b | 27,117,345 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,014,215 | \u200b | \u200b | \u200b | \u200b | \u200b | 23,053,107 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 14,885,774 | \u200b | \u200b | \u200b | \u200b | \u200b | 338,353,643 | \u200b | \u200b |\n| Carrie Wheeler | \u200b | \u200b | \u200b | \u200b | 02/06/2020(4) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 50,160 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,140,137 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(5) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 3,493,892 | \u200b | \u200b | \u200b | \u200b | \u200b | 79,416,165 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(6) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 485,262 | \u200b | \u200b | \u200b | \u200b | \u200b | 11,030,005 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2020(7) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 404,385 | \u200b | \u200b | \u200b | \u200b | \u200b | 9,191,671 | \u200b | \u200b |\n| Gautam Gupta | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 2,069,026(9) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| Julie Todaro | \u200b | \u200b | \u200b | \u200b | 12/18/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 23,307 | \u200b | \u200b | \u200b | \u200b | \u200b | 69,921 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 12/18/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 253,559 | \u200b | \u200b | \u200b | \u200b | \u200b | 602,473 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(10) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 28,847 | \u200b | \u200b | \u200b | \u200b | \u200b | 655,692 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 12/18/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,365,143 | \u200b | \u200b | \u200b | \u200b | \u200b | 31,029,700 | \u200b | \u200b |\n| Tom Willerer | \u200b | \u200b | \u200b | \u200b | 11/03/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 23,307 | \u200b | \u200b | \u200b | \u200b | \u200b | 69,921 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 11/02/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 192,364 | \u200b | \u200b | \u200b | \u200b | \u200b | 361,423 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 11/02/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,262,946 | \u200b | \u200b | \u200b | \u200b | \u200b | 28,706,763 | \u200b | \u200b |\n| Elizabeth Stevens | \u200b | \u200b | \u200b | \u200b | 06/12/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 85,678 | \u200b | \u200b | \u200b | \u200b | \u200b | 10,784 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 06/11/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 1 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 113,226 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 03/13/2018(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 60,657 | \u200b | \u200b | \u200b | \u200b | \u200b | 20,219 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.43 | \u200b | \u200b | \u200b | \u200b | \u200b | 03/12/2028 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 03/21/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 242,631 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,515,003 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 242,874 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,520,526 | \u200b | \u200b |", + "n_cols": 44, + "n_rows": 23, + "plain_text": "\u200b | \u200b | \u200b | Option Awards | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | | | | | | | | | | | | | | | | | | | | | | | | | | \nName | \u200b | \u200b | Grant Date | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Exercisable | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Unexercisable | \u200b | \u200b | Option Exercise Price ($) | \u200b | \u200b | Option Expiration Date | \u200b | \u200b | Number of Shares or Units of Stock That Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($) (1) | \u200b | | | | | | | | | | | | | | | | | | | | | \nEric Wu | \u200b | \u200b | \u200b | \u200b | 02/06/2020(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,193,020 | \u200b | \u200b | \u200b | \u200b | \u200b | 27,117,345 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,014,215 | \u200b | \u200b | \u200b | \u200b | \u200b | 23,053,107 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 14,885,774 | \u200b | \u200b | \u200b | \u200b | \u200b | 338,353,643 | \u200b | \u200b\nCarrie Wheeler | \u200b | \u200b | \u200b | \u200b | 02/06/2020(4) | \u200b | \u200b | \u200b | \u200b | 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| \u200b | \u200b | \u200b | \u200b | 485,262 | \u200b | \u200b | \u200b | \u200b | \u200b | 11,030,005 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2020(7) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 404,385 | \u200b | \u200b | \u200b | \u200b | \u200b | 9,191,671 | \u200b | \u200b\nGautam Gupta | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 2,069,026(9) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\nJulie Todaro | \u200b | \u200b | \u200b | \u200b | 12/18/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 23,307 | \u200b | \u200b | \u200b | \u200b | \u200b | 69,921 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/18/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 253,559 | \u200b | \u200b | \u200b | \u200b | \u200b | 602,473 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(10) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 28,847 | \u200b | \u200b | \u200b | \u200b | \u200b | 655,692 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/18/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,365,143 | \u200b | \u200b | \u200b | \u200b | \u200b | 31,029,700 | \u200b | \u200b\nTom Willerer | \u200b | \u200b | \u200b | \u200b | 11/03/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 23,307 | \u200b | \u200b | \u200b | \u200b | \u200b | 69,921 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 11/02/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 192,364 | \u200b | \u200b | \u200b | \u200b | \u200b | 361,423 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 11/02/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,262,946 | \u200b | \u200b | \u200b | \u200b | \u200b | 28,706,763 | \u200b | \u200b\nElizabeth Stevens | \u200b | \u200b | \u200b | \u200b | 06/12/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 85,678 | \u200b | \u200b | \u200b | \u200b | \u200b | 10,784 | \u200b | 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| \u200b | \u200b | 1,193,020 | \u200b | \u200b | \u200b | \u200b | \u200b | 27,117,345 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,014,215 | \u200b | \u200b | \u200b | \u200b | \u200b | 23,053,107 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 14,885,774 | \u200b | \u200b | \u200b | \u200b | \u200b | 338,353,643 | \u200b | \u200b\nCarrie Wheeler | \u200b | \u200b | \u200b | \u200b | 02/06/2020(4) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 50,160 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,140,137 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(5) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 3,493,892 | \u200b | \u200b | \u200b | \u200b | \u200b | 79,416,165 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 09/03/2020(6) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 485,262 | \u200b | \u200b | \u200b | \u200b | \u200b | 11,030,005 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2020(7) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 404,385 | \u200b | \u200b | \u200b | \u200b | \u200b | 9,191,671 | \u200b | \u200b\nGautam Gupta | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 2,069,026(9) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\nJulie Todaro | \u200b | \u200b | \u200b | \u200b | 12/18/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 23,307 | \u200b | \u200b | \u200b | \u200b | \u200b | 69,921 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/18/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 253,559 | \u200b | \u200b | \u200b | \u200b | \u200b | 602,473 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 12/17/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(10) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 28,847 | \u200b | \u200b | \u200b | \u200b | \u200b | 655,692 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 12/18/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,365,143 | \u200b | \u200b | \u200b | \u200b | \u200b | 31,029,700 | \u200b | \u200b\nTom Willerer | \u200b | \u200b | \u200b | \u200b | 11/03/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 23,307 | \u200b | \u200b | \u200b | \u200b | \u200b | 69,921 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 11/02/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 192,364 | \u200b | \u200b | \u200b | \u200b | \u200b | 361,423 | \u200b | \u200b | \u200b | \u200b | \u200b | 4.30 | \u200b | \u200b | \u200b | \u200b | \u200b | 11/02/2029 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1,262,946 | \u200b | \u200b | \u200b | \u200b | \u200b | 28,706,763 | \u200b | \u200b\nElizabeth Stevens | \u200b | \u200b | \u200b | \u200b | 06/12/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 85,678 | \u200b | \u200b | \u200b | \u200b | \u200b | 10,784 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 06/11/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 1 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 09/29/2017(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 113,226 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.02 | \u200b | \u200b | \u200b | \u200b | \u200b | 09/28/2027 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 03/13/2018(8) | \u200b | \u200b | \u200b | \u200b | \u200b | 60,657 | \u200b | \u200b | \u200b | \u200b | \u200b | 20,219 | \u200b | \u200b | \u200b | \u200b | \u200b | 1.43 | \u200b | \u200b | \u200b | \u200b | \u200b | 03/12/2028 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 03/21/2019(11) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 242,631 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,515,003 | \u200b | \u200b\n\u200b | \u200b | \u200b | \u200b | \u200b | 11/03/2019(2) | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 242,874 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,520,526 | \u200b | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b301", + "block_sequence": 301, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 301, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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"block_sequence": 303, + "block_sha256": "ac383ed73390751b29d7fd0a6a4a3c1f90f934b39d35c8560bd57fd49a95aeb0", + "block_type": "paragraph", + "char_count": 138, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 303, + "char_end": 138, + "char_start": 0, + "fragment_sha256": "9dddc0131ec350ae5b108611bd8846f4b714eb6ab36c68db4841b9f22e3bb112", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", + "table": null, + "text": "The amounts in this column were determined based on the closing market price of the Company\u2019s common stock on December 31, 2020 of $22.73." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b304", + "block_sequence": 304, + "block_sha256": 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"0ea75fa3f61e3cdcdddd39812ded5df82dbc846f872421a708a3d64355de0c0f", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", + "table": null, + "text": "TABLE OF CONTENTS (2) The RSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable RSU grant agreements. The service-based condition will be satisfied in 16 successive equal quarterly installments following the vesting commencement date. The liquidity event condition was satisfied upon the occurrence of either of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. \u200b (3) The RSUs will vest upon (i) the occurrence of a \u201clisting event\u201d and (ii) the satisfaction of performance-based vesting conditions. The closing of the Business Combination satisfied the listing event vesting condition. The performance-based vesting condition will be satisfied, subject to Mr. Wu\u2019s continued employment with us through each applicable vesting date, as to 1/6th of the RSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change of Control (as defined in Mr. Wu\u2019s employment letter agreement). These milestones are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23. \u200b (4) The RSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Wheeler\u2019s RSU grant agreements. Pursuant to the Wheeler Agreement, the service-based condition was fully satisfied as of Ms. Wheeler\u2019s employment start date with us. The liquidity event condition was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement under the Securities Act, for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. \u200b (5) The RSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The liquidity-based vesting condition is satisfied if a listing event occurs prior to the seventh anniversary of the grant date of the applicable RSUs. The closing of the Business Combination satisfied the listing event vesting condition. The time-based vesting condition is satisfied as to 25% of such RSUs on the first anniversary of the Wheeler Start Date and 75% of such RSUs would vest in substantially equal quarterly installments over a three-year period thereafter. \u200b (6) The RSUs will vest only if both (i) a liquidity based vesting condition and (ii) a performance-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The liquidity-based vesting condition is satisfied if a \u201clisting event\u201d occurs prior to the seventh anniversary of the grant date of the applicable RSUs. The closing of the Business Combination satisfied the listing event vesting condition. The performance-based vesting condition is satisfied as to such RSUs upon the first to occur of (i) both (a) a listing event and (b) the 60-day volume weighted-average closing price of the Company\u2019s publicly-traded class of common stock being at least $16.48 or (ii) both (a) a listing event and (b) the consummation of a Change of Control (as defined in the Ms. Wheeler\u2019s offer letter agreement) in which the per share consideration is at least $16.48. \u200b (7) The RSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The liquidity-based vesting condition is satisfied if a \u201clisting event\u201d occurs prior to the seventh anniversary of the grant date of the applicable RSUs. The closing of the Business Combination satisfied the listing event vesting condition. The RSUs will begin vesting on the third anniversary of the Wheeler Start Date, subject to her continued employment with us on such date, and are subject to, in addition to the liquidity-based vesting condition, a time-based vesting condition whereby such RSUs vest in substantially equal quarterly installments over a two-year period following such anniversary. \u200b (8) The options will vest on the following schedule, subject to continued service through each such date: 25% of the options on the first anniversary of the options award\u2019s vesting start date, and 1/16th of the options in 12 successive equal quarterly installments thereafter. \u200b (9) These stock options were fully exercisable as of December 31, 2020 as they could be early exercised prior to becoming fully vested on July 10, 2021. If Mr. Gupta exercises stock options prior to their vesting, he will receive shares of our restricted stock. Mr. Gupta\u2019s stock options will expire on the date set forth in his option agreement. \u200b (10) The RSUs will vest only if both the Service-Based Condition and the Liquidity Event Condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Todaro\u2019s RSU grant agreements. The RSUs are 100% vested as to the Service-Based Condition as of the date of grant and will become fully vested upon the satisfaction of the Liquidity Event Condition. The Liquidity Event Condition was satisfied in full upon the first to occur of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. The RSUs were granted for consulting services rendered by Ms. Todaro prior to her becoming a full-time employee of the Company. \u200b (11) The RSUs will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable RSU grant agreements. The \u201cService-Based Condition\u201d will be satisfied on the following schedule, subject to continued service through each such date: 25% of the RSUs on the first anniversary of the RSU award\u2019s vesting start date, and 1/16th of the RSUs in 12 successive equal quarterly installments thereafter. The \u201cLiquidity Event Condition\u201d was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act, for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. \u200b Option Exercises and Stock Vested in 2020 None of our named executive officers exercised stock options in 2020. No stock awards held by our named executive officers became fully vested in 2020. 2020 Pension Benefits Table None of our named executive officers participated in any defined benefit pension plans in 2020. 2020 Nonqualified Deferred Compensation Table None of our named executive officers participated in any non-qualified deferred compensation plans in 2020. 27" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b307", + "block_sequence": 307, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 307, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "2020 Grants of Plan-Based Awards", + "Outstanding Equity Awards at 2020 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b308", + "block_sequence": 308, + "block_sha256": "5ad243f5002f8e3a15e118b1ac077b73060d8345b8503fd2cfbbf58339e8e90c", + "block_type": "heading", + "char_count": 56, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 308, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "ce084150bb4037cb9d9ce9c10e240ba923a05af4fb01b9b916505486644702ba", + "heading_path": [ + "DEF 14A", + "Potential Payments Upon Termination or Change of Control" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s67", + "table": null, + "text": "Potential Payments Upon Termination or Change of Control" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b309", + "block_sequence": 309, + "block_sha256": "43fc6b5ad3c7a9f9a53cd0cd21ca66a18941feb08bba0c4e601469dba2ccc07f", + "block_type": "paragraph", + "char_count": 742, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 309, + "char_end": 742, + "char_start": 0, + "fragment_sha256": "98504dd75fe57aee4307e4e24682fc4751138732b3b3a51fa88db6fd5ef1cb79", + "heading_path": [ + "DEF 14A", + "Potential Payments Upon Termination or Change of Control" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s67", + "table": null, + "text": "We maintain arrangements that provide payment of compensation to our named executive officers in the event of certain terminations of employment or a change of control of the Company. The table below quantifies certain compensation and benefits that would have become payable to each of our named executive officers (i) if his or her employment had terminated on December 31, 2020 without Cause or due to resignation for Good Reason, (ii) if a Change in Control had occurred on December 31, 2020, but there was no termination of the officer\u2019s employment and (iii) if a Change in Control had occurred on December 31, 2020, immediately following which the officer\u2019s employment was terminated without Cause or due to resignation for Good Reason." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b310", + "block_sequence": 310, + "block_sha256": "5e93fbb57f4e059f461a9c4813e97d32c905ae4ec1066fb4340744306fb0d9bb", + "block_type": "table", + "char_count": 3471, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 310, + "char_end": 3471, + "char_start": 0, + "fragment_sha256": "958735afc2be55c83bc67eb515d21dc9bb29f616601334dc42264d5dce5d8c60", + "heading_path": [ + "DEF 14A", + "Potential Payments Upon Termination or Change of Control" + ], + "table_index": 25, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s67", + "table": { + "caption": null, + "flags": [ + "wide_table" + ], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Named Executive Officer | \u200b | \u200b | Termination Scenario | \u200b | \u200b | Severance ($) | \u200b | \u200b | Accelerated Options $(1) | \u200b | \u200b | Accelerated RSUs $(1) | \u200b | \u200b | Total $(1) | \u200b | | | | | | | | | | | | |\n| Eric Wu | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 68,934,887 | \u200b | \u200b | \u200b | \u200b | \u200b | 68,934,887 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 106,562,725 | \u200b | \u200b | \u200b | \u200b | \u200b | 106,562,725 | \u200b | \u200b |\n| Carrie Wheeler | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 19,854,041 | \u200b | \u200b | \u200b | \u200b | \u200b | 19,854,041 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 12,170,142 | \u200b | \u200b | \u200b | \u200b | \u200b | 12,170,142 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,777,978 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,777,978 | \u200b | \u200b |\n| Gautam Gupta(3) | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| Julie Todaro | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,413,117 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,413,117 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 6,196,111 | \u200b | \u200b | \u200b | \u200b | \u200b | 15,842,696 | \u200b | \u200b | \u200b | \u200b | \u200b | 22,038,807 | \u200b | \u200b |\n| Tom Willerer | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,970,863 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,970,863 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 3,974,835 | \u200b | \u200b | \u200b | \u200b | \u200b | 14,353,381 | \u200b | \u200b | \u200b | \u200b | \u200b | 18,328,216 | \u200b | \u200b |\n| Elizabeth Stevens | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,516,729 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,516,729 | \u200b | \u200b |\n| \u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b |", + "n_cols": 29, + "n_rows": 19, + "plain_text": "Named Executive Officer | \u200b | \u200b | Termination Scenario | \u200b | \u200b | Severance ($) | \u200b | \u200b | Accelerated Options $(1) | \u200b | \u200b | Accelerated RSUs $(1) | \u200b | \u200b | Total $(1) | \u200b | | | | | | | | | | | | \nEric Wu | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 68,934,887 | \u200b | \u200b | \u200b | \u200b | \u200b | 68,934,887 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 106,562,725 | \u200b | \u200b | \u200b | \u200b | \u200b | 106,562,725 | \u200b | \u200b\nCarrie Wheeler | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 19,854,041 | \u200b | \u200b | \u200b | \u200b | \u200b | 19,854,041 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 12,170,142 | \u200b | \u200b | \u200b | \u200b | \u200b | 12,170,142 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,777,978 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,777,978 | \u200b | \u200b\nGautam Gupta(3) | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\nJulie Todaro | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,413,117 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,413,117 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 6,196,111 | \u200b | \u200b | \u200b | \u200b | \u200b | 15,842,696 | \u200b | \u200b | \u200b | \u200b | \u200b | 22,038,807 | \u200b | \u200b\nTom Willerer | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,970,863 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,970,863 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 3,974,835 | \u200b | \u200b | \u200b | \u200b | \u200b | 14,353,381 | \u200b | \u200b | \u200b | \u200b | \u200b | 18,328,216 | \u200b | \u200b\nElizabeth Stevens | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 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"5,516,729", + "\u200b", + "\u200b" + ], + [ + "\u200b", + "\u200b", + "\u200b", + "Termination without Cause or Resignation for Good Reason following a Change of Control", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b" + ] + ], + "table_index": 25, + "table_kind": "data" + }, + "text": "Named Executive Officer | \u200b | \u200b | Termination Scenario | \u200b | \u200b | Severance ($) | \u200b | \u200b | Accelerated Options $(1) | \u200b | \u200b | Accelerated RSUs $(1) | \u200b | \u200b | Total $(1) | \u200b | | | | | | | | | | | | \nEric Wu | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 68,934,887 | \u200b | \u200b | \u200b | \u200b | \u200b | 68,934,887 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 106,562,725 | \u200b | \u200b | \u200b | \u200b | \u200b | 106,562,725 | \u200b | \u200b\nCarrie Wheeler | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 19,854,041 | \u200b | \u200b | \u200b | \u200b | \u200b | 19,854,041 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 12,170,142 | \u200b | \u200b | \u200b | \u200b | \u200b | 12,170,142 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,777,978 | \u200b | \u200b | \u200b | \u200b | \u200b | 100,777,978 | \u200b | \u200b\nGautam Gupta(3) | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\nJulie Todaro | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,413,117 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,413,117 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 6,196,111 | \u200b | \u200b | \u200b | \u200b | \u200b | 15,842,696 | \u200b | \u200b | \u200b | \u200b | \u200b | 22,038,807 | \u200b | \u200b\nTom Willerer | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,970,863 | \u200b | \u200b | \u200b | \u200b | \u200b | 8,970,863 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 3,974,835 | \u200b | \u200b | \u200b | \u200b | \u200b | 14,353,381 | \u200b | \u200b | \u200b | \u200b | \u200b | 18,328,216 | \u200b | \u200b\nElizabeth Stevens | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b\n\u200b | \u200b | \u200b | Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,516,729 | \u200b | \u200b | \u200b | \u200b | \u200b | 5,516,729 | \u200b | \u200b\n\u200b | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change of Control | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b | \u200b | \u200b | \u2014 | \u200b | \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b311", + "block_sequence": 311, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 311, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 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However, in 2020, Opendoor Labs Inc. granted 101,114 RSUs to Jason Kilar for his service as a non-employee director from 2018 through" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b325", + "block_sequence": 325, + "block_sha256": "59e19706d51d39f66711c2653cd7eb1291c94d9b55eb14bda74ce4dc636d015a", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 325, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "d596c4f4df2ba0735072e5240dc181eea879cb9343036e46f4d4ea3d61e803c5", + "heading_path": [ + "DEF 14A", + "Director Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s69", + "table": null, + "text": "28" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b326", + "block_sequence": 326, + "block_sha256": "fa1d43dbae3800eb631bb8a19dd1d4a63b64c82707029956b777c1ccf555e620", + "block_type": "paragraph", + "char_count": 4967, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 326, + "char_end": 4967, + "char_start": 0, + "fragment_sha256": "5e1e7477085d1ec0063c670a8cb993b904d7cdfd3439803c92f2a68dd01a85c7", + "heading_path": [ + "DEF 14A", + "Director Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s69", + "table": null, + "text": "TABLE OF CONTENTS 2020, and 50,160 RSUs to Carrie Wheeler for her service as non-employee director in 2019 and 2020. These RSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Mr. Kilar\u2019s RSU grant agreement. The service-based condition will be satisfied in a series of four successive equal quarterly installments following the applicable vesting commencement date, subject to continued service through each such date. The liquidity event condition was satisfied if either of the following events occurred on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act, for the sale of the Company\u2019s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for sale of its common stock. Pursuant to the Wheeler Agreement, the 50,160 RSUs granted to Ms. Wheeler in her capacity as a non-employee director became fully vested as to the service-based condition as of her employment start date with us in September 2020. Non-Employee Director Compensation Policy In connection with the closing of the Business Combination, we adopted the Opendoor Technologies Inc. Non-Employee Director Compensation Policy (the \u201cNED Compensation Policy\u201d), which provides non-employee directors with fixed annual cash retainer fees as well as long-term equity compensation awards for their service on the Board. Additional fixed annual cash retainer fees are paid to non-employee directors for committee membership and chairperson service. The non-employee directors initially eligible to participate in the NED Compensation Policy are Adam Bain, Cipora Herman, Jonathan Jaffe, Pueo Keffer, Jason Kilar, and Glenn Solomon. John Rice began participating in the NED Compensation Policy when he joined the Board in March 2021. Certain principal features of the compensation provided under the NED Compensation Policy are described in more detail below. The summary is qualified in its entirety by reference to the complete text of the NED Compensation Policy. Annual Cash Compensation Beginning at the first annual meeting of the Board following the closing of the Business Combination, each non-employee director will receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the first quarterly payment will be prorated for the partial quarter measured from the date of the closing of the Business Combination to the end of the quarter, and the quarterly payment for each Non-Employee Director will be prorated for any partial quarter of service by such Non-Employee Director. All annual cash fees are vested upon payment. \u2022 Annual Board Service Retainer: \u200b \u2022 All Eligible Directors: $50,000 \u200b \u2022 Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) \u200b \u2022 Annual Committee Member Service Retainer: \u200b \u2022 Member of the Audit Committee: $10,000 \u200b \u2022 Member of the Compensation Committee: $7,500 \u200b \u2022 Member of the Nominating and Corporate Governance Committee: $5,000 \u200b \u2022 Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): \u200b \u2022 Chair of the Audit Committee: $20,000 \u200b \u2022 Chair of the Compensation Committee: $15,000 \u200b \u2022 Chair of the Nominating and Corporate Governance Committee: $10,000 \u200b At the annual meeting of the Board, a non-employee director may elect to receive 100% of his or her annual cash compensation for the next fiscal year as RSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average Fair Market Value (as defined in the 2020 Plan) over the 20 trading days ending on the last trading day of the month preceding the month in which the RSU grant is made (the \u201cShare Price\u201d). Any such RSU grant is referred to as the \u201cOptional RSU Grant.\u201d Equity Compensation Unless otherwise provided by the Board, each person who, after the closing of the Business Combination, is elected or appointed for the first time to be a non-employee director will automatically, upon the date of his or her initial election or appointment, be granted an RSU for that number of shares of our common stock equal to $400,000 divided by the Share Price, rounded to the nearest whole share. 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The delivery of shares subject to fully-vested RSUs may be delayed in accordance with the terms of the 2014 Plan and 2020 Plan and each director\u2019s RSU grant agreement. Unless otherwise provided by the Board, at the close of business on the date of each annual meeting of our stockholders, each person who is then a non-employee director will automatically be granted a RSU for that number of shares of common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share. Each such annual grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that the non-employee director continues to be a non-employee director on such vesting date. Notwithstanding the foregoing, for each non-employee director in office as of immediately prior to the closing of a Change in Control (as defined in the 2020 Plan), their then-outstanding equity awards granted pursuant to the NED Compensation Policy will become fully vested immediately prior to the closing of such Change in Control. In the event any grant date set forth above for any RSU grant to be made under the NED Compensation Policy is not a trading day on the Nasdaq Stock Exchange (e.g., a weekend or holiday), then the grant date shall be the next trading day, and if there is no effective registration statement on Form S-8 covering such grant filed with the SEC on such grant date, the grant date shall be the trading day following the date there is such a filed and effective registration statement." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b329", + "block_sequence": 329, + "block_sha256": "7eb46f6648219204014a89eb488f7a53eb39441e7e524d5e3c3af691c81baa7d", + "block_type": "heading", + "char_count": 32, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 329, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "c1093e2c6caa300024424e265c35f1712c9289e1f841bbc750eeefbf388e43c2", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s70", + "table": null, + "text": "2020 Director Compensation Table" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b330", + "block_sequence": 330, + "block_sha256": "ec95609e54555f76825a2ca4c069c397e66e8982271cdc46ae826e5e9f4518d3", + "block_type": "paragraph", + "char_count": 554, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 330, + "char_end": 554, + "char_start": 0, + "fragment_sha256": "d0172c491f8bd2f9e7ad38d4e7bde0bb614c061285d5736f74599cfdd3753d53", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s70", + "table": null, + "text": "The following table contains information concerning the compensation of our non-employee directors in fiscal year 2020. Ms. Wheeler ceased being a non-employee director following the commencement of her employment as our CFO in September 2020 and her compensation is described above in the section entitled \u201cExecutive Compensation.\u201d David Weiden, Jeff Housenbold and Jeff Crowe served on the Opendoor Labs Inc. board of directors until the closing of the Business Combination, after which they ceased serving on the Opendoor Labs Inc. board of directors." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b331", + "block_sequence": 331, + "block_sha256": "b9218f959ab65d0564870ab8f4c87867575179cc3d971108bbbd668ebf98c1e0", + "block_type": "table", + "char_count": 980, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 331, + "char_end": 980, + "char_start": 0, + "fragment_sha256": "dc8f15b6c80e7552062334e23291c19976e9f84414293f87ae9236aeb50e9993", + "heading_path": [ + "DEF 14A", + "2020 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Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days. Percentage ownership of our voting securities is based on 577,227,618 shares of our common stock issued and outstanding as of April 9, 2021. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b341", + "block_sequence": 341, + "block_sha256": "4f8865abeddbfab37520d0c56eed1bf17f37e3778e1a55e6dc54895d2ae17849", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 341, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "92f9c50d989d15362c3fedd2604209962d12962140ff79c96d7f296745c7ae7a", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": 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The address for SBIA UK is 69 Grosvenor Street, London W1K 3JP, United Kingdom." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b357", + "block_sequence": 357, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 357, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b358", + "block_sequence": 358, + "block_sha256": "46f789d1efeefad080846917a6a4a761d0e1804bb0a4f27fa4634a887ec26265", + "block_type": "paragraph", + "char_count": 3, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 358, + "char_end": 3, + "char_start": 0, + "fragment_sha256": "b2b46d235adfa20007c555421caedb1ac945a211d899682b641d6f377c8e054a", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "(3)" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b359", + "block_sequence": 359, + "block_sha256": "06b86c17ac5314f835c46f8a6e8ee21293b91c91be0c952331f760e1fed11af6", + "block_type": "paragraph", + "char_count": 1395, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 359, + "char_end": 1395, + "char_start": 0, + "fragment_sha256": "bf839e25c9a8d9d0b9dc2456389122cf81de719866bca98b9029afb6cdff1715", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "Based solely on a Schedule 13G filed with the SEC on February 12, 2021 by Khosla Ventures Seed B, LP (\u201cSeed B\u201d), Khosla Ventures Seed B (CF), LP (\u201cSeed B (CF)\u201d), Khosla Ventures Seed Associates B, LLC (\u201cSeed B Associates\u201d), Khosla Ventures IV, LP (\u201cKV IV\u201d), Khosla Ventures IV (CF), LP (\u201cKV IV (CF)\u201d), Khosla Ventures Associates IV, LLC (\u201cKVA IV\u201d), VK Services, LLC (\u201cVK Services\u201d) and Vinod Khosla (\u201cKhosla,\u201d together with Seed B, Seed B (CF), Seed B Associates, KV IV, KV IV (CF), KVA IV and VK Services collectively, the \u201cReporting Persons\u201d). Consists of (i) 32,489 shares of common stock held by Seed B, (ii) 1,843 shares of common stock held by Seed B (CF), (ii) 43,317,254 shares of common stock held by KV IV and (iv) 2,769,348 shares of common stock held by KV IV (CF). The general partner of Seed B and Seed B (CF) is Seed B Associates. The general partner of KV IV and KV IV (CF) is KVA IV. VK Services is the sole manager of Seed B Associates and KVA IV. Khosla is the managing member of VK Services. Each of Khosla, VK Services and Seed B Associates possesses power to direct the voting and disposition of the shares owned by Seed B and Seed B (CF), and each of Seed B Associates, VK Services and Khosla may be deemed to have indirect beneficial ownership of such shares. Each of Khosla, VK Services and KVA IV possesses power to direct the voting and disposition of the shares owned" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b360", + "block_sequence": 360, + "block_sha256": "f4e48e664a603543865edc77bbc76dd1dd53dc9d0c30f651bbad7c8231091348", + "block_type": "other", + "char_count": 1, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 360, + "char_end": 1, + "char_start": 0, + "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b361", + "block_sequence": 361, + "block_sha256": "eb1e33e8a81b697b75855af6bfcdbcbf7cbbde9f94962ceaec1ed8af21f5a50f", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 361, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "e3718d5b52c80647dcb9fa3ff055a4c8092afb5e38428d5749e5f28ce1deae9d", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "31" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b362", + "block_sequence": 362, + "block_sha256": "afdab5a20ae2f627a172563ca6cf10214e576de4224551d1583e772a756e6128", + "block_type": "paragraph", + "char_count": 3474, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 362, + "char_end": 3474, + "char_start": 0, + "fragment_sha256": "2f11c08c47dde16edcffcd05137c962c562309234ccf82f8e6c241dd6deecc44", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS by KV IV and KV IV (CF), and each of Khosla, VK Services and KVA IV may be deemed to have indirect beneficial ownership of such shares. The address of the Reporting Persons is 2128 Sand Hill Road, Menlo Park, California 94025. (4) Based solely on a Schedule 13D filed with the SEC on December 28, 2020, by Access Industries Management, LLC (\u201cAIM\u201d), AI LiquidRE LLC (\u201cAIL\u201d) and Len Blavatnik (collectively, the \u201cReporting Persons,\u201d and each, a \u201cReporting Person\u201d). The common stock is owned directly by AIL and may be deemed to be beneficially owned by AIM and Len Blavatnik because (i) AIM is the controlling entity of AIL and (ii) Len Blavatnik controls AIM and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities. \u200b (5) Includes (i) 27,795,075 shares of common stock held by Eric Wu and (ii) 4,612,765 shares of common stock held by 2020 Wu Grantor Retained Annuity Trust. \u200b (6) Includes (i) 4,900,848 shares of common stock owned by Ian Wong and (ii) 1,516,446 shares of common stock owned by Diana Shean Ting Chiu. \u200b (7) Includes 283,069 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of April 9, 2021. \u200b (8) Includes 32,941 shares of our common stock and 280,456 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of April 9, 2021. \u200b (9) Includes (i) 225,000 shares of common stock held by 010118 Management, L.P., and (ii) 25,610 shares of our common stock held by Adam Bain. \u200b (10) Consists of (i) 19,380,847 shares of our common stock held of record by GGV Capital V L.P. (\u201cGGCV\u201d), (ii) 7,330,756 shares of our common stock held of record by GGV Capital Select L.P. (\u2018\u2018GGCS\u2019\u2019) and (iii) 711,272 shares of our common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (\u201cGGCVEF\u201d). GGV Capital V L.L.C. (\u201cGGCV LLC\u201d) is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (\u201cGGCS LLC\u201d) is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC and GGCS LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares. \u200b (11) Includes 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of April 9, 2021. \u200b Delinquent Section 16(a) Reports Section 16(a) of the Exchange Act requires our directors, officers (as defined under Rule 16a-1(f) under the Exchange Act) and stockholders who beneficially own more than 10% of any class of our equity securities registered pursuant to Section 12 of the Exchange Act (collectively, the \u201cReporting Persons\u201d) to file initial statements of beneficial ownership of securities and statements of changes in beneficial ownership of securities with respect to our equity securities with the SEC. Based solely on our review of the copies of such forms received by us and upon written representations of the Reporting Persons received by us, we believe that there has been compliance with all Section 16(a) filing requirements applicable to such Reporting Persons with respect to the fiscal year ended December 31, 2020 other than with respect to one Form 4 for Glenn Solomon reporting three transactions, which was inadvertently filed late. 32" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b363", + "block_sequence": 363, + "block_sha256": "2043634619f1883be33054563fb2b4ba6db8bed2ee6328055f9ee441b9028e0a", + "block_type": "page_header", + "char_count": 18, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 363, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "935e3544a250bf4d661630da7bb991017598cbf0c0a3c619523a1b36ff8eae55", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b364", + "block_sequence": 364, + "block_sha256": "8200f8b193acf6e460a5fafa82136ce0975f3a7830625061827255e18fafa2ed", + "block_type": "heading", + "char_count": 53, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 364, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "fb927e852c1e4807e06bf604c7bf41229e7ffdc5237954342244ce35acc1cd53", + "heading_path": [ + "DEF 14A", + "2020 Director Compensation Table", + "CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s72", + "table": null, + "text": "CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b365", + "block_sequence": 365, + "block_sha256": "b955e7c6d6aead8bf3c31d0afa627cedde6d8536a96034442ce4a615d7d90629", + "block_type": "heading", + "char_count": 67, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 365, + "char_end": 67, + "char_start": 0, + "fragment_sha256": "d89ad2a3dffbd4241cb58ff4b9459f54a6a3f4afa17e8ae28004d700decc74c5", + "heading_path": [ + "DEF 14A", + "Policies and Procedures for Approval of Related Person Transactions" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s73", + "table": null, + "text": "Policies and Procedures for Approval of Related Person Transactions" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b366", + "block_sequence": 366, + "block_sha256": "5c6082f49398586695338090ab10146e9e81833c65081c518cda1a53b318ca10", + "block_type": "paragraph", + "char_count": 2569, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 366, + "char_end": 2569, + "char_start": 0, + "fragment_sha256": "e9f1de557a8c0581d290675a0c6d002e290da2f299288b1892ce6158a95632c1", + "heading_path": [ + "DEF 14A", + "Policies and Procedures for Approval of Related Person Transactions" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s73", + "table": null, + "text": "Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). We have a written policy on transactions with related persons that is in conformity with the requirements for issuers having publicly held common stock that is listed on Nasdaq. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company\u2019s Head of Legal by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Head of Legal is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify, or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b367", + "block_sequence": 367, + "block_sha256": "ccaa3c71ae658a7dfabdcabe8e00e856ac13b837d821456064918cbf5cedd79f", + "block_type": "heading", + "char_count": 94, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 367, + "char_end": 94, + "char_start": 0, + "fragment_sha256": "13b9bea791818e6b8c776e10645d128d624a4e44868a84d1257bc905efbf0aec", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s74", + "table": null, + "text": "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b368", + "block_sequence": 368, + "block_sha256": "fc639e35dbc8846c7095e02a088c40ae1343eb7b778ea545cfcd91f42b5bac37", + "block_type": "heading", + "char_count": 8, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 368, + "char_end": 8, + "char_start": 0, + "fragment_sha256": "feecf38d264383bef57a959bb0bbe7ce35be082aff026f369e8dbbc634a1d743", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Warrants" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s75", + "table": null, + "text": "Warrants" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b369", + "block_sequence": 369, + "block_sha256": "3795614f2477ffe658cccaab22e4fe0559c5dee940708a21aa0125047b2b5a37", + "block_type": "paragraph", + "char_count": 1170, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 369, + "char_end": 1170, + "char_start": 0, + "fragment_sha256": "56ad9b6d3d8b9e18626b908aa9ae265aec1c4f518cb9d2387eb00dc94f133c87", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Warrants" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s75", + "table": null, + "text": "On June 12, 2018, Opendoor Labs Inc. entered into a warrant issuance agreement with Len X, LLC (formerly known as Lennar Ventures, LLC) (\u201cLennar\u201d) in exchange for business and technical advisory services. Jonathan Jaffe, a member of Opendoor\u2019s Board, is an affiliate of Lennar. Under the warrant issuance agreement, Opendoor was obligated to issue to Lennar or an affiliate certain warrants exercisable for shares of Opendoor Labs Inc.\u2019s Series E preferred stock (such warrants, the \u201cLennar Series E Warrants\u201d). Opendoor Labs Inc. issued two Lennar Series E Warrants pursuant to the warrant issuance agreement on June 30, 2019 and June 30, 2020 with respect to 121,356 and 242,713 shares of Series E preferred stock, respectively, at an exercise price of $5.92 per share. The Lennar Series E Warrants provided the holder of such warrants the right to purchase an aggregate of 364,069 shares of Opendoor Labs Inc.\u2019s Series E preferred stock in exchange for proceeds of $2.2 million. The warrant issuance agreement was terminated prior to the closing of the Business Combination, and the Lennar Series E Warrants have been exercised in full or terminated without exercise." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b370", + "block_sequence": 370, + "block_sha256": "b96ec76aa24a450465cc07e08fe151896b2020537c87c2bbcaac8054c17b97c2", + "block_type": "heading", + "char_count": 36, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 370, + "char_end": 36, + "char_start": 0, + "fragment_sha256": "69be3474bb85b9785f942a41d9c9044009c5d4da091bae01112425585b5f6664", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Series E-2 Preferred Stock Financing" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", + "table": null, + "text": "Series E-2 Preferred Stock Financing" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b371", + "block_sequence": 371, + "block_sha256": "da883a0b7d0146beac3f0f2be5476cddb7aee5354b8cfd80fd2860939cc089b2", + "block_type": "paragraph", + "char_count": 320, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 371, + "char_end": 320, + "char_start": 0, + "fragment_sha256": "32601e333c2976de976d840fa285fcbd4c43cf1a79f5081c67b11888f6a2f58c", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Series E-2 Preferred Stock Financing" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", + "table": null, + "text": "From February 2019 through May 2019, Opendoor Labs Inc. sold an aggregate of 9,603,637 shares of its Series E-2 preferred stock to related persons at a purchase price of approximately $8.24 per share. The following table summarizes purchases of Series E-2 preferred stock from Opendoor Labs Inc. by such related persons:" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b372", + "block_sequence": 372, + "block_sha256": "c00eb1d07d83d88ddfbc7b6af05917fd0319d97dad658d49f900c4c43be70e54", + "block_type": "table", + "char_count": 792, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 372, + "char_end": 792, + "char_start": 0, + "fragment_sha256": "72f2fbc83071126ba26237e78540339f0577579259afad808be97fcee2f9078c", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Series E-2 Preferred Stock Financing" + ], + "table_index": 29, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", + "table": { + "caption": null, + "flags": [ + 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\u200b | \u200b |\n| \u200b | LV Opendoor JV, LLC(5) | \u200b | \u200b | \u200b | \u200b | 485,427 | \u200b | \u200b | \u200b | \u200b | $ | 4,000,000 | \u200b | \u200b |\n| \u200b | Norwest Venture Partners XIV, LP(6) | \u200b | \u200b | \u200b | \u200b | 242,713 | \u200b | \u200b | \u200b | \u200b | $ | 2,000,000 | \u200b | \u200b |\n| \u200b | Total | \u200b | \u200b | \u200b | \u200b | 9,603,637 | \u200b | \u200b | \u200b | \u200b | $ | 79,135,458 | \u200b | \u200b |", + "n_cols": 15, + "n_rows": 8, + "plain_text": "\u200b | Name | \u200b | \u200b | Shares of Series E-2 Preferred Stock | \u200b | \u200b | Total Purchase Price | \u200b | | | | | | \n\u200b | AI LiquidRE LLC(1) | \u200b | \u200b | \u200b | \u200b | 2,625,616 | \u200b | \u200b | \u200b | \u200b | $ | 21,635,481 | \u200b | \u200b\n\u200b | Khosla Ventures IV, LP and its affiliates(2) | \u200b | \u200b | \u200b | \u200b | 60,677 | \u200b | \u200b | \u200b | \u200b | $ | 499,990 | \u200b | \u200b\n\u200b | GGV Capital Select L.P.(3) | \u200b | \u200b | \u200b | \u200b | 121,356 | \u200b | \u200b | \u200b | \u200b | $ | 999,993 | \u200b | \u200b\n\u200b | SVF Excalibur (Cayman) Limited(4) | \u200b | \u200b | \u200b | \u200b | 6,067,848 | \u200b | \u200b | \u200b | \u200b | $ | 49,999,994 | \u200b | \u200b\n\u200b | LV Opendoor JV, LLC(5) | \u200b | \u200b | \u200b | \u200b | 485,427 | \u200b | \u200b | \u200b | \u200b | $ | 4,000,000 | \u200b | \u200b\n\u200b | Norwest Venture Partners XIV, LP(6) | \u200b | \u200b | \u200b | \u200b | 242,713 | \u200b | \u200b | \u200b | \u200b | $ | 2,000,000 | \u200b | \u200b\n\u200b | Total | \u200b | \u200b | \u200b | \u200b | 9,603,637 | \u200b | \u200b | \u200b | \u200b | $ | 79,135,458 | \u200b | \u200b", + "rows": [ + [ + "\u200b", + "Name", + "\u200b", + "\u200b", + "Shares of Series E-2 Preferred Stock", + "\u200b", + "\u200b", + "Total Purchase Price", + "\u200b", + "", + "", + "", + "", + "", + "" + ], + [ + "\u200b", + "AI LiquidRE LLC(1)", + "\u200b", + 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"fragment_sha256": "31a876f4e6ebaf1e10ad8b2c2de6a825fc1f43588d6284d766f47633f73368d0", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Series E-2 Preferred Stock Financing" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", + "table": null, + "text": "TABLE OF CONTENTS (1) Pueo Keffer is a member of our Board and was a member of the Opendoor Labs Inc. board of directors until December 2020 and an affiliate of AI LiquidRE LLC. AI LiquidRE LLC currently holds more than 5% of our capital stock. \u200b (2) David Weiden was a member of the Opendoor Labs Inc. board of directors until December 2020 and an affiliate of Khosla Ventures IV, LP. Entities affiliated with Khosla Ventures IV, LP currently hold more than 5% of our capital stock. \u200b (3) Glenn Solomon is a member of our Board and was a member of the Opendoor Labs Inc. board of directors until December 2020 and an affiliate of GGV Capital Select L.P. \u200b (4) Jeff Housenbold was a member of the Opendoor Labs Inc. board of directors until December 2020 and is an affiliate of SVF Excalibur (Cayman) Limited. SVF Excalibur (Cayman) Limited currently holds more than 5% of our capital stock. \u200b (5) Jon Jaffe is a member of our Board and was a member of the Opendoor Labs Inc. board of directors until December 2020 and is an affiliate of LV Opendoor JV, LLC. \u200b (6) Jeff Crowe was a member of the Opendoor Labs Inc. board of directors until December 2020 and is an affiliate of Norwest Venture Partners XIV, L.P. \u200b Investors\u2019 Rights Agreement Opendoor Labs Inc. was party to the Sixth Amended and Restated Investors\u2019 Rights Agreement, dated as of February 8, 2019, which granted registration rights and information rights, among other things, to certain holders of its capital stock, including (i) entities affiliated with AI LiquidRE LLC, Khosla Ventures IV, LP, GGV Capital Select L.P. and SVF Excalibur (Cayman) Limited, each of which currently hold more than 5% of our capital stock, (ii) LV Opendoor JV, LLC, which is affiliated with our director, Jon Jaffe, and (iii) Norwest Venture Partners, L.P., which is affiliated with Jeff Crowe who was a member of Opendoor Labs Inc.\u2019s board of directors until December 2020. Pueo Keffer and Glenn Solomon, each of whom is a member of our Board and was a director of Opendoor Labs Inc. until December 2020, are affiliated with AI LiquidRE LLC and GGV Capital Select L.P., respectively. David Weiden and Jeff Housenbold, each of whom was a director of Opendoor Labs Inc. until December 2020, are affiliated with Khosla Ventures IV, LP and SVF Excalibur (Cayman) Limited, respectively. This agreement was terminated at the closing of the Business Combination. Right of First Refusal Pursuant to the 2014 Plan and certain agreements with its stockholders, including the Sixth Amended and Restated Right of First Refusal and Co-Sale Agreement, dated as of February 8, 2019 (the \u201cROFR Agreement\u201d), Opendoor Labs Inc. or its assignees had the right to purchase shares of Opendoor Labs Inc. capital stock which certain stockholders proposed to sell to other parties. Certain holders of Opendoor Labs Inc. capital stock, including (i) entities affiliated with AI LiquidRE LLC, Khosla Ventures IV, LP, GGV Capital Select L.P. and SVF Excalibur (Cayman) Limited, each of which currently hold more than 5% of our capital stock, (ii) LV Opendoor JV, LLC, which is affiliated with Jon Jaffe, who is a member of our Board and was a member of Opendoor Labs Inc.\u2019s board of directors until December 2020, and (iii) Norwest Venture Partners, L.P., which is affiliated with Jeff Crowe, who was a member of Opendoor Labs Inc.\u2019s board of directors until December 2020, had rights of first refusal and co-sale under the ROFR Agreement. Pueo Keffer and Glenn Solomon, each of whom is a member of our Board and was a director of Opendoor Labs Inc. until December 2020, are affiliated with AI LiquidRE LLC and GGV Capital Select L.P., respectively. David Weiden and Jeff Housenbold, each of whom was a director of Opendoor Labs Inc. until December 2020, are affiliated with Khosla Ventures IV, LP and SVF Excalibur (Cayman) Limited, respectively. These rights were terminated at the closing of the Business Combination. Voting Agreement Opendoor Labs Inc. was a party to the Sixth Amended and Restated Voting Agreement, dated as of February 8, 2019, pursuant to which certain holders of its capital stock, including (i) entities affiliated with AI LiquidRE LLC, Khosla Ventures IV, LP, GGV Capital Select, L.P. and SVF Excalibur (Cayman) Limited, each of which currently hold more than 5% of our capital stock, (ii) LV Opendoor JV, LLC, which is affiliated with Jon Jaffe, who is a member of our Board and was a member of Opendoor Labs Inc.\u2019s board of directors until December 2020, and (iii) Norwest Venture Partners, L.P., which is affiliated with Jeff Crowe, who was a member of Opendoor Labs Inc.\u2019s board of directors until December 2020, had agreed to vote their shares of our capital stock on certain matters, including with respect to the election of directors. Pueo Keffer and Glenn Solomon, each of whom is a member of our Board and was a director of Opendoor Labs Inc. until December 2020, are affiliated with AI LiquidRE LLC and GGV Capital Select L.P., respectively. David Weiden and Jeff Housenbold, each of whom was a director of Opendoor Labs Inc. until December 2020, are affiliated with Khosla Ventures IV, LP and SVF Excalibur (Cayman) Limited, respectively. This agreement was terminated at the closing of the Business Combination. Director and Officer Indemnification Our Certificate of Incorporation and Bylaws provide for indemnification and advancement of expenses for our directors and officers to the fullest extent permitted by the DGCL, subject to certain limited exceptions. We have entered into indemnification agreements with each of our directors and officers. PIPE Investment In connection with the Business Combination, certain investors (the \u201cPIPE Investors\u201d) entered into certain subscription agreements (the \u201cSubscription Agreements\u201d) with SCH, pursuant to which the PIPE Investors subscribed for shares of common stock in connection 34 TABLE OF CONTENTS with a PIPE investment (the \u201cPIPE Investment\u201d). The PIPE Investors that participated in the PIPE Investment included (i) Eric Wu (25,000 shares), Carrie Wheeler (150,000 shares), Ian Wong (20,000 shares) and Gautam Gupta (20,000 shares), our CEO, CFO, CTO and former CFO, respectively, (ii) AI LiquidRE LLC (2,500,000 shares), which currently holds more than 5% of our capital stock and (iii) Len X, LLC (1,000,000 shares), an entity affiliated with Jon Jaffe, who was a member of Opendoor Labs Inc.\u2019s board of directors until December 2020, when he became a member of our Board. SCH Relationships Founder Shares In January 2020, SCH Sponsor II LLC (\u201cSponsor\u201d) purchased 8,625,000 of then-outstanding SCH Class B ordinary shares for an aggregate purchase price of $25,000, or approximately $0.003 per share (after a subsequent share capitalization on April 27, 2020) (the \u201cfounder shares\u201d). In March 2020, the Sponsor transferred 100,000 founder shares to each of David Spillane and Cipora Herman (two of SCH\u2019s independent directors at the time of such transfer) at their original per-share purchase price. On April 27, 2020, SCH effected a pro rata share capitalization resulting in an increase in the total number of founder shares outstanding from 8,625,000 to 10,350,000 in order to maintain the ownership of founder shares at 20% of the issued and outstanding ordinary shares of SCH upon consummation of its initial public offering. The Sponsor received 1,725,000 founder shares in the share capitalization as a result of our independent directors waiving their right to receive shares in the share capitalization. In connection with the Business Combination, upon the domestication of SCH as a Delaware corporation (the \u201cDomestication\u201d), 10,350,000 founder shares were converted automatically, on a one-for-one basis, into shares of our common stock. Private Placement Warrants Simultaneously with the consummation of the initial public offering of SCH, the Sponsor purchased 6,133,333 warrants to purchase one SCH Class A ordinary share at an exercise price of $11.50 (the \u201cprivate placement warrants\u201d) at a price of $1.50 per warrant, or $9.2 million in the aggregate, in a private placement. Each private placement warrant entitles the holder to purchase one SCH Class A ordinary share for $11.50 per share. In connection with the Business Combination, upon the Domestication, each of the 6,133,333 private placement warrants converted automatically into a warrant to acquire one share of our common stock. Subscription Agreements Concurrently with the execution of the Merger Agreement, we entered into the Subscription Agreements with the certain PIPE Investors affiliated with the Sponsor (the \u201cSponsor Related PIPE Investors\u201d), pursuant to which the Sponsor Related PIPE Investors have subscribed for shares of our common stock in connection with the PIPE Investment. The Sponsor Related PIPE Investors have funded $160,250,000 of the PIPE Investment, for which they have received 16,025,000 shares of our common stock. Specifically, (i) ChaChaCha SPAC B, LLC, an entity affiliated with SCH Chairman and Chief Executive Officer Chamath Palihapitiya, subscribed for 10,000,000 shares of our common stock, (ii) Hedosophia Group Limited and certain of its affiliates, each of which being affiliated with SCH\u2019s President and director Ian Osborne, subscribed for 5,800,000 shares of our common stock, and (iii) 010118 Management, L.P., an entity affiliated our director Adam Bain, subscribed for 225,000 shares of our common stock. In addition, certain of our current and former officers participated in the PIPE Investment, as described above. The PIPE Investors also include AI LiquidRE LLC (2,500,000 shares), which held more than 5% of Opendoor Labs Inc.\u2019s pre-Business Combination capital stock and (iv) Len X, LLC (1,000,000 shares), an entity affiliated with our director, Jon Jaffe. We consummated the PIPE Investment concurrently with the closing of the Business Combination. Related Party Note and Advances The Sponsor advanced SCH an aggregate of $21,631 to cover expenses related to SCH\u2019s initial public offering. The advances were noninterest bearing and due on demand. Advances in the aggregate amount of $21,631 were repaid in February 2020. On January 21, 2020, SCH issued an unsecured promissory note to the Sponsor, pursuant to which SCH borrowed an aggregate principal amount of $300,000. The note was non-interest bearing and payable on the earlier of (i) June 30, 2020 and (ii) the completion of SCH\u2019s initial public offering. The borrowings outstanding under the note in the amount of $300,000 were repaid upon SCH\u2019s consummation of its initial public offering on April 30, 2020. On September 30, 2020, SCH issued a promissory note to Sponsor, pursuant to which SCH was permitted to borrow up to an aggregate principal amount of $4,000,000. The promissory note was non-interest bearing and payable on the earlier of (i) April 30, 2022 and (ii) the completion of our initial business combination. The borrowings outstanding under the note in the amount of $1,138,497 were repaid upon consummation of the Business Combination. Prior to the Business Combination, SCH\u2019s audit committee reviewed on a quarterly basis all payments that were made to the Sponsor, officers, directors or our or their affiliates and will determine which expenses and the amount of expenses that will be 35 TABLE OF CONTENTS reimbursed. There was no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on SCH\u2019s behalf, although no such reimbursements were made from the proceeds of SCH\u2019s initial public offering held in the trust account prior to the completion of the Business Combination. Administrative Services Agreement SCH entered into an agreement whereby, commencing on April 27, 2020 through the earlier of the consummation of a business combination or SCH\u2019s liquidation, SCH paid an affiliate of the Sponsor a monthly fee of $10,000 for office space, administrative and support services. For the year ended December 31, 2020, we incurred $80,000 of such fees, which were paid at the closing of the Business Combination. This agreement was terminated at the closing of the Business Combination. Financial Advisor Fees Related to Public Offering In connection with SCH\u2019s initial public offering, the underwriters of SCH\u2019s initial public offering agreed to reimburse SCH for amounts paid by SCH to Connaught (UK) Limited for financial advisory services in an amount equal to 10% of the discount paid to the underwriters, of which $720,000 was paid at the closing of SCH\u2019s initial public offering and $1,449,000 was paid at the closing of the Business Combination. Connaught (UK) Limited is an affiliate of SCH, the Sponsor and certain of SCH\u2019s directors and officers. 36" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b375", + "block_sequence": 375, + "block_sha256": "2043634619f1883be33054563fb2b4ba6db8bed2ee6328055f9ee441b9028e0a", + "block_type": "page_header", + "char_count": 18, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 375, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "a238802aa1ca61ac29070159978f19d7b8fe1fe7b2e23528820d79c8e472cb37", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "Series E-2 Preferred Stock Financing" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", + "table": null, + "text": "TABLE OF CONTENTS\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b376", + "block_sequence": 376, + "block_sha256": "1bfa03bda9b7045826bfc8f033e5d43be9ec21b73b21f87d99b852cf1f65c05e", + "block_type": "heading", + "char_count": 91, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 376, + "char_end": 91, + "char_start": 0, + "fragment_sha256": "39c5b1609988bec917bb38877b5ad65cff372688f92117867ba6a77518bd0481", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "PROPOSAL TWO \u2014 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s77", + "table": null, + "text": "PROPOSAL TWO \u2014 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b377", + "block_sequence": 377, + "block_sha256": "bc3cf9c430c7267bd47faa5d4e7196973ff240c0aa77d163becbed898f2e867b", + "block_type": "paragraph", + "char_count": 3912, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 377, + "char_end": 3912, + "char_start": 0, + "fragment_sha256": "4141a1162ca52335a1ac3d8abb356c3ea2f684e54a48ecd4daf424f44dc230a0", + "heading_path": [ + "DEF 14A", + "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", + "PROPOSAL TWO \u2014 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s77", + "table": null, + "text": "The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, our Board believes that it is advisable to give stockholders an opportunity to ratify this appointment. If this proposal is not approved at the Annual Meeting, our Audit Committee will reconsider its appointment of Deloitte & Touche LLP. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2020. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company. As previously disclosed in the Form 8-K filed with the SEC on December 18, 2020 (the \u201cForm 8-K\u201d), on December 18, 2020, the Audit Committee approved the engagement of Deloitte & Touche LLP as the Company\u2019s independent registered public accounting firm, effective immediately. On the same date, the Audit Committee dismissed Marcum LLP (\u201cMarcum\u201d) as the Company\u2019s independent registered public accounting firm. In connection with the Business Combination, SCH had engaged Marcum to audit its financial statements included in SCH\u2019s Registration Statement on Form S-4 filed with the SEC. The report of Marcum on the financial statements of SCH as of December 31, 2019, and for the period from October 18, 2019 (inception) through December 31, 2019 did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainties, audit scope or accounting principles, except for an explanatory paragraph in such report regarding substantial doubt about the Company\u2019s ability to continue as a going concern. During the period from October 18, 2019 (inception) to December 31, 2019 and subsequent interim period through December 18, 2020, there were no disagreements between SCH and Marcum on any matter of accounting principles or practices, financial disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Marcum, would have caused it to make reference to the subject matter of the disagreements in its reports on SCH\u2019s financial statements for such period. During the period from October 18, 2019 (inception) to December 31, 2019 and subsequent interim period through December 18, 2020, there were no \u201creportable events\u201d \u200b(as defined in Item 304(a)(1)(v) of Regulation S-K under the Exchange Act). During the years ended December 31, 2019 and December 31, 2018 and the subsequent interim period through December 18, 2020, we did not consult with Deloitte with respect to (i) the application of accounting principles to a specified transaction, either completed or proposed, the type of audit opinion that might be rendered on our financial statements, and neither a written report nor oral advice was provided to us that Deloitte concluded was an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any other matter that was the subject of a disagreement or a reportable event (as defined above). We provided Marcum with a copy of the foregoing disclosures and requested that Marcum furnish us with a letter addressed to the SEC stating whether it agrees with the statements made by Opendoor set forth above. A copy of Marcum\u2019s letter, dated December 18, 2020, was filed as Exhibit 16.1 to the Form 8-K." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b378", + "block_sequence": 378, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 378, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "e0d8a9810fc101f73159eb640f361f918c8b0ece49953a95862962bb1a4bfb02", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s78", + "table": null, + "text": "Board Recommendation" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b379", + "block_sequence": 379, + "block_sha256": 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The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i) explicitly approved by the Audit Committee (\u201cspecific pre-approval\u201d) or (ii) entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (\u201cgeneral pre-approval\u201d). Unless a type of service to be provided by Deloitte & Touche LLP has received general pre-approval under the Pre-Approval Policy, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC\u2019s rules on auditor independence." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b400", + "block_sequence": 400, + "block_sha256": "aea92132c4cbeb263e6ac2bf6c183b5d81737f179f21efdc5863739672f0f470", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 400, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "29d9bbb045306a29076579fdc7a64f80b7feba66ebb39da3ca2b713073a2f3a7", + "heading_path": [ + "DEF 14A", + "Pre-Approval Policies and Procedures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s80", + "table": null, + "text": "38" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b401", + "block_sequence": 401, + "block_sha256": "39b6aced345ae60eea92163e28a658ed73a5593a505216a418d64355e4f0528b", + "block_type": "paragraph", + "char_count": 1920, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 401, + "char_end": 1920, + "char_start": 0, + "fragment_sha256": "936621c2227d114bb84c0fb7cef5e18c7635ed8e56a1f56215d96e8a93d84880", + "heading_path": [ + "DEF 14A", + "Pre-Approval Policies and Procedures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s80", + "table": null, + "text": "TABLE OF CONTENTS\u200b Report of the Audit Committee The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the \u201cCompany\u201d) for the fiscal year ended December 31, 2020 and has discussed these financial statements with management and the Company\u2019s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company\u2019s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (\u201cPCAOB\u201d) and the Securities and Exchange Commission. The Company\u2019s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm\u2019s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Cipora Herman (Chair) Adam Bain Pueo Keffer\u200b 39" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b402", + "block_sequence": 402, + "block_sha256": "2043634619f1883be33054563fb2b4ba6db8bed2ee6328055f9ee441b9028e0a", + "block_type": "page_header", + "char_count": 18, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 402, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "dce7fec7beb096503db6c276f7f5aafc597c243cd934aec249d5a10db535066d", + "heading_path": [ + "DEF 14A", + "Pre-Approval Policies and Procedures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s80", + "table": null, + "text": "TABLE OF CONTENTS\u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b403", + "block_sequence": 403, + "block_sha256": "2b0a9a8b25c4710ee43931e7ae9ce5a8f149621c1ec7baf44311f81f7055329c", + "block_type": "heading", + "char_count": 114, + "level": 3, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 403, + "char_end": 114, + "char_start": 0, + "fragment_sha256": "d236082c7cc94d458400cd9cc6466ba722cd82a55296321e24f4a2163df677b1", + "heading_path": [ + "DEF 14A", + "Pre-Approval Policies and Procedures", + "PROPOSAL THREE \u2014 APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s81", + "table": null, + "text": "PROPOSAL THREE \u2014 APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b404", + "block_sequence": 404, + "block_sha256": "ea2b8a878841df5955c78edc6cae47446483b86e3f5ccb04e1a8d940cf7e59fd", + "block_type": "heading", + "char_count": 10, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 404, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "d45141d07d13f72a8d179a72935851c7c75eb4d40782399172ea9509f33e7f60", + "heading_path": [ + "DEF 14A", + "Background" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s82", + "table": null, + "text": "Background" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b405", + "block_sequence": 405, + "block_sha256": "bef0e9f05505ed312cd0cbe45a0b250afbc103a0fcd6b98ed74554d3d4d0c37e", + "block_type": "paragraph", + "char_count": 1298, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 405, + "char_end": 1298, + "char_start": 0, + "fragment_sha256": "2d6b1737536f8d2327a27a58c7eb5c73cf61b05b5a937e3c23d80df3b23ac006", + "heading_path": [ + "DEF 14A", + "Background" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s82", + "table": null, + "text": "As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a \u201cSay-on-Pay Vote\u201d, gives our stockholders the opportunity to express their views on our named executive officers\u2019 compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the \u201cExecutive Compensation\u201d section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. Accordingly, we ask our stockholders to vote \u201cFOR\u201d the following resolution at the Annual Meeting:" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b406", + "block_sequence": 406, + "block_sha256": "7243aaebcd2aaa99acaaf45f82f35aacd7338c82b17e6d2717edc4e35ba5ede3", + "block_type": "paragraph", + "char_count": 389, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 406, + "char_end": 389, + "char_start": 0, + "fragment_sha256": "b7b15d7a854e97ad59a272fca446e10d741976056a6077fdcbf23b56d597376c", + "heading_path": [ + "DEF 14A", + "Background" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s82", + "table": null, + "text": "\u201cRESOLVED, that the stockholders of Opendoor Technologies Inc. approve, on an advisory (non-binding) basis, the 2020 compensation of Opendoor Technologies Inc.\u2019s named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.\u2019s Proxy Statement for the Annual Meeting of Stockholders.\u201d" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b407", + "block_sequence": 407, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 407, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "e0d8a9810fc101f73159eb640f361f918c8b0ece49953a95862962bb1a4bfb02", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s83", + "table": null, + "text": "Board Recommendation" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b408", + "block_sequence": 408, + "block_sha256": "c4fe7b88bef14db577bb02d4c0bcd2413d5674008164d0e2bf7d65515561b1c1", + "block_type": "image", + "char_count": 376, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 408, + "char_end": 376, + "char_start": 0, + "fragment_sha256": "04f39402ef18ec2aaec6517afadcd6ada1b5a2064b155e1b5f2ff8d4f82f058f", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s83", + "table": null, + "text": "\u200b \u200b \u200b \u200b Our Board unanimously recommends a vote \u201cFOR\u201d the resolution to approve, on an advisory (non-binding) basis, the 2020 compensation of our named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.\u2019s Proxy Statement for the Annual Meeting of Stockholders. \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b409", + "block_sequence": 409, + "block_sha256": "d59eced1ded07f84c145592f65bdf854358e009c5cd705f5215bf18697fed103", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 409, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "ee2f0ef03cd2fd6d12c5362bbd344d7b7fac0b99853d535724cdc69cbd2e0f87", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s83", + "table": null, + "text": "40" + }, + { + "block_id": 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"Background" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s85", + "table": null, + "text": "In accordance with Section 14A(a)(2) of the Exchange Act, we are requesting your advisory, non-binding vote regarding the frequency with which stockholders should have an opportunity to provide a Say-on-Pay Vote. We are providing stockholders the option of selecting a frequency of every ONE YEAR, TWO YEARS, or THREE YEARS or abstaining. Stockholders are not voting to approve or disapprove our recommendation, as set forth below. Rather, stockholders are being asked to express their preference regarding the frequency of future Say-on-Pay Votes. We recommend that our stockholders select a frequency of every ONE YEAR. We believe that this frequency is appropriate because it will enable our stockholders to vote, on an advisory basis, on the most recent executive compensation information that is presented in our proxy statement, leading to a more meaningful and coherent communication between us and our stockholders on the compensation of our named executive officers. An annual advisory vote on executive compensation is consistent with our goal of seeking input from, and engaging in discussions with, our stockholders on corporate governance matters and our executive compensation philosophy, policies and practices." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b414", + "block_sequence": 414, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 2, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 414, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "e0d8a9810fc101f73159eb640f361f918c8b0ece49953a95862962bb1a4bfb02", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "Board Recommendation" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b415", + "block_sequence": 415, + "block_sha256": "6d27e45c0f1b50f36c348733c210ffb3b05fe214565030408443e703abbcfb90", + "block_type": "image", + "char_count": 123, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 415, + "char_end": 123, + "char_start": 0, + "fragment_sha256": "b8d174a6331f737c278579a220d6c55de2c4e0e5af3ad515278ba79dad082296", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "\u200b \u200b \u200b \u200b Our Board unanimously recommends that stockholders vote \u201cONE YEAR\u201d as the frequency of future Say-on-Pay Votes. \u200b \u200b" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b416", + "block_sequence": 416, + "block_sha256": "3d914f9348c9cc0ff8a79716700b9fcd4d2f3e711608004eb8f138bcba7f14d9", + "block_type": "page_number", + "char_count": 2, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 416, + "char_end": 2, + "char_start": 0, + "fragment_sha256": "aae8dfc25a540030d234f0e42b5ecd560f03d73161eadd549759b2e3d5e3a586", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "41" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b417", + "block_sequence": 417, + "block_sha256": "c1152d312770d6b656d04d447b7cce5768a7efb5d99444c089cfc63cbab94bc4", + "block_type": "paragraph", + "char_count": 5090, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 417, + "char_end": 5090, + "char_start": 0, + "fragment_sha256": "7efd5d441bbfb1ef4b81b48a3128fa5b0eb199ff33ec59d70463793e82e72c6d", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "TABLE OF CONTENTS\u200b ADDITIONAL INFORMATION Stockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2022 annual meeting of stockholders pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 31, 2021. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Elizabeth Stevens. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2022 annual meeting of stockholders, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than March 19, 2022 and not before February 17, 2022. However, if the 2022 annual meeting of stockholders is more than 30 days earlier, or more than 60 days later, than the first anniversary of the Annual Meeting, notice must be so delivered or received no earlier than the 120th day prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting and the 10th day following the date on which public disclosure of the date of such annual meeting was made. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2022 annual meeting of stockholders. Householding of Annual Meeting Materials The SEC\u2019s rules permit us to deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as \u201chouseholding\u201d and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of those documents was delivered. If you prefer to receive separate copies of the proxy materials, contact requests@viewproxy.com or dial toll-free 877-777-2857. If you are currently a stockholder sharing an address with another stockholder and wish to receive only one copy of future proxy materials for your household, please contact Alliance Advisors at requests@viewproxy.com or dial toll-free 877-777-2857. Other Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. Solicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. In addition to the use of the mails, proxies may be solicited by telephone and email by directors, officers and other employees of Opendoor who will not be specially compensated for these services. We will also request that brokers, nominees, custodians and other fiduciaries forward soliciting materials to the beneficial owners of shares held of record by such brokers, nominees, custodians and other fiduciaries. We will reimburse such persons for their reasonable expenses in connection therewith. We have also engaged Alliance Advisors to assist in the solicitation of proxies and provide related advice and informational support for a services fee and the reimbursement of customary disbursements that are not expected to exceed $10,000 in the aggregate. You may contact Alliance Advisors by mail at 200 Broadacres Drive, 3rd Floor, Bloomfield, NJ 07003, by phone toll-free at 844-557-9031 or by email at OPEN@allianceadvisors.com. Certain information contained in this proxy statement relating to the occupations and security holdings of our directors and officers is based upon information received from the individual directors and officers. WE WILL FURNISH, WITHOUT CHARGE, A COPY OF OUR ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020, INCLUDING CONSOLIDATED FINANCIAL STATEMENTS BUT NOT INCLUDING EXHIBITS, TO EACH OF OUR STOCKHOLDERS OF RECORD AS OF APRIL 20, 2021, AND TO EACH BENEFICIAL STOCKHOLDER AS OF THAT 42" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b418", + "block_sequence": 418, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 418, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b419", + "block_sequence": 419, + "block_sha256": "15b120d0747a41244acac9f5c6f6ebcb69611c58786372acec09273224286883", + "block_type": "paragraph", + "char_count": 216, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 419, + "char_end": 216, + "char_start": 0, + "fragment_sha256": "e0b8ba181a571881ba02982b5993fbaf35a725af63e7d3eeaac5500abc7bda9c", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "DATE UPON WRITTEN REQUEST MADE TO ELIZABETH STEVENS, SECRETARY, OPENDOOR TECHNOLOGIES INC., 410 N. SCOTTSDALE ROAD, SUITE 1600, TEMPE, ARIZONA 85281. A REASONABLE FEE WILL BE CHARGED FOR COPIES OF REQUESTED EXHIBITS." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b420", + "block_sequence": 420, + "block_sha256": "c1d7ae6b6dca629564e0358de160f31612345a57c1971e753b0ce182b59bd6f5", + "block_type": "paragraph", + "char_count": 462, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 420, + "char_end": 462, + "char_start": 0, + "fragment_sha256": "cf82f418c766b0ca03d8d10a1c2c80626ab86a16b0f697a1b24f1e269ee09a98", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING ELECTRONICALLY, WE URGE YOU TO VOTE YOUR SHARES VIA THE TOLL-FREE TELEPHONE NUMBER OR OVER THE INTERNET, AS DESCRIBED IN THIS PROXY STATEMENT. IF YOU RECEIVED A COPY OF THE PROXY CARD BY MAIL, YOU MAY SIGN, DATE AND MAIL THE PROXY CARD IN THE ENCLOSED RETURN ENVELOPE. PROMPTLY VOTING YOUR SHARES WILL ENSURE THE PRESENCE OF A QUORUM AT THE ANNUAL MEETING AND WILL SAVE US THE EXPENSE OF FURTHER SOLICITATION." + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b421", + "block_sequence": 421, + "block_sha256": "d1f3af219ec18208f964cadd9902e70ce24dafc56e538b20e22c902389844964", + "block_type": "paragraph", + "char_count": 35, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 421, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "35fd8b640217dfaeae810c00605fb097d76687d20fb1c90f606e5d19b654a514", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "By Order of the Board of Directors," + }, + { + "block_id": 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the Board of Directors of Opendoor Technologies Inc.The Stockholder(s) hereby appoint(s) Carrie Wheeler and Elizabeth Stevens, or either of them, as proxies, each with the power to appoint her substitute, and hereby authorize(s) them to represent and to vote, as designated on the reverse side of this ballot, all of the shares of common stock of Opendoor Technologies Inc. that the stockholder(s) is/are entitled to vote at the Annual Meeting of Stockholders to be held at 9:00 AM Pacific Time on June 17, 2021 and any adjournment, continuation or postponement thereof. The Annual Meeting of Stockholders will be held virtually. In order to attend the meeting, you must register at http://www.viewproxy.com/ opendoor/2021 by 11:59 PM Pacific Time on June 16, 2021. On the day of the Annual Meeting of Stockholders, if you have properly registered, you may enter the meeting by clicking on the link provided and the password you received via email in your registration confirmations. Further instructions on how to attend and vote at the Annual Meeting of Stockholders are contained in the Proxy Statement in the section titled \u201cGeneral Information About Voting and the Annual Meeting.\u201dSuch proxies are authorized to vote in their discretion (x) for the election of any person to the Board of Directors if any nominee named herein becomes unable to serve or for good cause will not serve, (y) on any matter that the Board of Directors did not know would be presented at the Annual Meeting of Stockholders by a reasonable time before the proxy solicitation was made, and (z) on such other business as may properly be brought before the meeting or any adjournment, continuation or postponement thereof.This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors\u2019 recommendations.CONTINUED AND TO BE MARKED, DATED AND SIGNED ON THE OTHER SIDEPLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:The Notice and Proxy Statement and Annual Report are available at http://www.viewproxy.com/opendoor/2021" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b427", + "block_sequence": 427, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 427, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "80ed538e12ce6cc913f0afef64fa0107b402bf1723018278a720b5d054d27b3b", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b428", + "block_sequence": 428, + "block_sha256": "5017fb8fcb9bc9046597e78de4bab2f4d529cad76423335a53ed81cfc2b3d2a8", + "block_type": "paragraph", + "char_count": 3765, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", + "block_sequence": 428, + "char_end": 3765, + "char_start": 0, + "fragment_sha256": "f05d04205e5d94efab8e46716085efbebcfc5438fca3b7b81d2052a63a6b9b92", + "heading_path": [ + "DEF 14A", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", + "table": null, + "text": "The Board of Directors recommends you vote FOR each of the following nominees for director:Please mark your votes like this The Board of Directors recommends you vote FOR Proposals 2 and 3 and \u201cONE YEAR\u201d for Proposal 4:1. Election of Class I directorsNominees:01 Cipora Herman02 Jonathan Jaffe03 Glenn Solomon\u25a1 FOR ALL NOMINEESWITHHOLD AUTHORITY FOR ALL NOMINEESFOR ALL EXCEPT(SEE INSTRUCTIONS2. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm\u25a1 FOR \u25a1 AGAINST \u25a1 ABSTAIN3. Approval, on an Advisory (Non-Binding) Basis, of the compensation of our named executive officers (\u201csay-on-pay\u201d vote)\u25a1 FOR \u25a1 AGAINST \u25a1 ABSTAINInstructions: To withhold authority to vote for any individual nominee, mark \u201cFor All Except\u201d above and write the number(s) of the nominee(s) on the line below.4. Approval, on an Advisory (Non-Binding) Basis, of the frequency of future say-on- pay votesDO NOT PRINT IN THIS AREA(Stockholder Name & Address Data)\u25a1 1 YEAR \u25a1 2 YEARS \u25a1 3 YEARS \u25a1 ABSTAINNOTE: Such other business as may properly come before the meeting and any adjournment, continuation or postponement thereof.Signature of Stockholder: Date\u25a1 Change of Address \u2014 Please print new address belowSignature of Stockholder: DateNOTE: This proxy should be marked, dated and signed by each stockholder exactly as such stockholder\u2019s name appears hereon, and returned promptly in the enclosed envelope. When shares are held jointly, each holder should sign. When signing as an executor, administrator, attorney, trustee or guardian please give full title as such. If the signatory is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If the signatory is a partnership, please sign in the partnership name by authorized person.VIRTUAL CONTROL NUMBERPLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.As a stockholder of Opendoor Technologies Inc., you have the option of voting your shares electronically through the Internet or by tele- phone, eliminating the need to return the proxy card. Your electronic vote authorizes the named proxies to vote your shares in the same manner as if you marked, signed, dated and returned the proxy card. Votes submitted electronically over the Internet or by telephone must be received by 8:59 PM Pacific Time on June 16, 2021.As a Registered Holder, you may vote your shares at the Annual Meeting by first registering at http://www.viewproxy.com/opendoor/2021 using your Virtual Control Number below. Your registration must be received by 11:59 PM Pacific Time on June 16, 2021. On the day of the Annual Meeting of Stockholders, if you have properly registered, you may enter the meeting by clicking on the link provided and the password you received via email in your registration confirmations. Please have your Virtual Control Number with you during the meeting in order to vote. Further instructions on how to attend and vote at the Annual Meeting are contained in the Proxy Statement in the section titled \u201cGeneral Information About Voting and the Annual Meeting.\u201dVIRTUAL CONTROL NUMBERPROXY VOTING INSTRUCTIONSPlease have your 11-digit Virtual Control Number ready when voting by Internet or telephone(INTERNETVote Your Shares on the Internet: Go tohttp://www.FCRvote.com/OPENHave your proxy card available when you access the above website. Follow the prompts to vote your shares.TELEPHONEVote Your Shares by Phone: Call 1 (866) 402-3905Use any touch-tone telephone to vote your shares. 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STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ​ SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 ​ Filed by the Registrant ☒ ​ Filed by a Party other than the Registrant ☐ ​ Check the appropriate box: ☐ Preliminary Proxy Statement ​ ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ​ ☒ Definitive Proxy Statement ​ ☐ Definitive Additional Materials ​ ☐ Soliciting Material Pursuant to §240.14a-12 ​ Opendoor Technologies Inc. (Name of Registrant as Specified In Its Charter) ​ (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ☒ No fee required. ​ ☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. ​ (1) Title of each class of securities to which transaction applies: ​ ​ (2) Aggregate number of securities to which transaction applies: ​ ​ (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): ​ ​ (4) Proposed maximum aggregate value of transaction: ​ ​ (5) Total fee paid: ​ ​ ☐ Fee paid previously with preliminary materials. ​ ☐ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. ​ (1) Amount Previously Paid: ​ ​ (2) Form, Schedule or Registration Statement No.: ​ ​ (3) Filing Party: ​ ​ (4) Date Filed: ​ ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b6"], "char_count": 1728, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c469fa0b8cc6e824b654498e3d9811134f7aacb722b115cf7cc51eaf5310c670", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 6, "char_end": 1728, "char_start": 0, "fragment_sha256": "7b84aef4a437d5ef1f91bf76d244c6e64209675827845823786591fcab9cd340", "heading_path": ["DEF 14A"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p2", "passage_kind": "narrative", "passage_sequence": 2, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s2", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Dear Opendoor Stockholder: I am pleased to invite you to the Annual Meeting of Stockholders of Opendoor Technologies Inc., which will be held on Thursday, June 17, 2021, at 9:00 a.m. Pacific Time. The annual meeting will be a completely virtual meeting conducted via live webcast. You will be able to attend the annual meeting online and submit your questions during the meeting by visiting www.viewproxy.com/opendoor/2021/vm and entering your password. For further information on how to participate in the meeting, please see “General Information About Voting and the Annual Meeting” in the accompanying proxy statement. We are pleased to make our Annual Report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission’s Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the annual meeting regardless of whether you plan to attend electronically. The accompanying proxy statement contains information about the matters on which you are asked to vote as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors. Thank you for your investment in Opendoor. We appreciate your support. Sincerely,"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b7"], "char_count": 72, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4b638d384bf081130454f1abd5e01f553aff5be0722f961851496607757b69cc", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["DEF 14A"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 7, "char_end": 72, "char_start": 0, "fragment_sha256": "dbf793a062ab0d10df307f9b1d754223677aa315ecb744d94142b77f85a73200", "heading_path": ["DEF 14A"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p3", "passage_kind": "narrative", "passage_sequence": 3, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s2", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Eric Wu Chairman of the Board and Chief Executive Officer April 30, 2021"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b13"], "char_count": 707, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c655f0be112f10b6e1c1d8ec007a99e64991a79c4a32496aa1ecb482ce7e4e1e", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. Scottsdale Road, Suite 1600 Tempe, Arizona 85281", "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", "2021 Annual Meeting Information"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 13, "char_end": 707, "char_start": 0, "fragment_sha256": "9c6ef7645ec808ee5c4bf681272ee1dc5e058c23bb195f1760f65b568f31e420", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. Scottsdale Road, Suite 1600 Tempe, Arizona 85281", "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", "2021 Annual Meeting Information"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p4", "passage_kind": "narrative", "passage_sequence": 4, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s5", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "To Our Stockholders: NOTICE IS HEREBY GIVEN that the 2021 Annual Meeting of Stockholders of Opendoor Technologies Inc. (the “Annual Meeting”) will be held on Thursday, June 17, 2021, at 9:00 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.viewproxy.com/opendoor/2021/vm and entering your virtual control number included in your Notice of Internet Availability of Proxy Materials, proxy card, or on the instructions that accompanied your proxy materials. At the Annual Meeting, stockholders will consider and vote on the following matters:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b14"], "char_count": 760, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7f9ef5c92c53cbaf6ff076cd65598a73a5ea6720ab9b5e856e0c12471902ba79", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. Scottsdale Road, Suite 1600 Tempe, Arizona 85281", "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", "2021 Annual Meeting Information"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 14, "char_end": 682, "char_start": 0, "fragment_sha256": "8f24d4fed7a4632f6c4be02ddc5d92018a0f26cff84aa1f6e12b510d346ae74c", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. Scottsdale Road, Suite 1600 Tempe, Arizona 85281", "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", "2021 Annual Meeting Information"], "table_index": 0, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p5", "passage_kind": "table", "passage_sequence": 5, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s5", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b14", "text": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| ​ | MATTER | ​ | ​ | ​ | ​ |\n| ​ | 1 | ​ | ​ | The election of Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I Directors, each for a three-year term ending at the 2024 Annual Meeting of Stockholders; | ​ |\n| ​ | 2 | ​ | ​ | The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021; | ​ |\n| ​ | 3 | ​ | ​ | The approval, on an advisory (non-binding) basis, of the compensation of our named executive officers; and | ​ |\n| ​ | 4 | ​ | ​ | The approval, on an advisory (non-binding) basis, of the frequency of future advisory votes on the compensation of our named executive officers. | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b15"], "char_count": 1731, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a0140039004fd6c683c68c1bb7a771997bea7d49de7f3044a059302418ef66d7", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. Scottsdale Road, Suite 1600 Tempe, Arizona 85281", "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", "2021 Annual Meeting Information"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 15, "char_end": 1731, "char_start": 0, "fragment_sha256": "dbc5978a7bc58493dc1e050246ceb2b85caeebe81f2ee8219a3da564dd477939", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. Scottsdale Road, Suite 1600 Tempe, Arizona 85281", "NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS", "2021 Annual Meeting Information"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p6", "passage_kind": "narrative", "passage_sequence": 6, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s5", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment thereof. Stockholders of record at the close of business on Tuesday, April 20, 2021, are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of such stockholders will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the meeting by sending an email to Elizabeth Stevens, Head of Legal and Secretary, at ODInvestor@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will be available on the bottom panel of your screen during the meeting after entering the virtual control number included on the Notice of Internet Availability of Proxy Materials or any proxy card that you received, or on the materials provided by your bank or broker. Your vote is important regardless of the number of shares you own. To ensure that a quorum is present at the Annual Meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the Annual Meeting. Note that, in light of possible disruptions in mail service related to the COVID-19 pandemic, we encourage stockholders to submit their proxy via telephone or online. If you decide to attend the Annual Meeting, you will be able to vote electronically, even if you have previously submitted your proxy. By Order of the Board of Directors,"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b16"], "char_count": 60, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ac4df41de701a41e1820817da3f5894d289cbb69a222dbe63dfe790362459a16", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. 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We typically discuss our financial position, strategic priorities, business outlook, and other topics of prime importance to investors. As we grow as a public company, we will engage with our shareholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with investors to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance and business practices, and public disclosures."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b68"], "char_count": 1571, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a930347bd06f163534269498ebf69a4cbacd1e276b25621024f246ceceae3e04", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "OPENDOOR TECHNOLOGIES INC. 410 N. 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(the “Company”, “Opendoor”, “we” or “us”) for use at the Company’s 2021 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on Thursday, June 17, 2021, at 9:00 a.m. Pacific Time, and at any postponement, continuation or adjournment thereof. The Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. In order to participate in the Annual Meeting live via the Internet, you must register at www.viewproxy.com/opendoor/2021 by 11:59 p.m. Pacific Time on June 16, 2021. If you are a registered holder, you must register using the virtual control number included on your Notice of Internet Availability of Proxy Materials or your proxy card (if you received a printed copy of the proxy materials). If you hold your shares beneficially through a bank or broker, you must provide a legal proxy from your bank or broker during registration and you will be assigned a virtual control number in order to vote your shares during the Annual Meeting. If you are unable to obtain a legal proxy, you will still be able to attend the Annual Meeting (but will not be able to vote your shares) so long as you demonstrate proof of stock ownership. Instructions on how to connect and participate via the Internet, including how to demonstrate proof of stock ownership, are posted at www.viewproxy.com/opendoor/2021. See “Attending the Virtual Meeting Online” for more information."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b72"], "char_count": 1957, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e5b943c13704625f234dbac6a5ef17d3330d97d6ef895134c6f08ca21dbf750e", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Opendoor’s Voting Securities"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 72, "char_end": 1957, "char_start": 0, "fragment_sha256": "9ce66679937e4c45fb9a46f54a6ea56c4e9f54f0ed1d7cf5734b7fd508781706", "heading_path": ["DEF 14A", "Opendoor’s Voting Securities"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p21", "passage_kind": "narrative", "passage_sequence": 21, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s26", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Holders of record of our common stock at the close of business on Tuesday, April 20, 2021 (the “Record Date”) will be entitled to notice of, and such stockholders and holders of a valid proxy will be entitled to vote at, the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. On that date, 577,373,400 shares of our common stock were issued and outstanding and entitled to vote at the Annual Meeting. Each share of common stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. Notice of Internet Availability of Proxy Materials. As permitted by the Securities and Exchange Commission (the “SEC”) rules, Opendoor is making this proxy statement and its 2020 Annual Report available to its stockholders electronically via the Internet. On or about April 30, 2021, we mailed to our stockholders a Notice of Internet Availability of Proxy Materials (the “Internet Notice”) containing instructions on how to access this proxy statement and our 2020 Annual Report and vote online. If you received an Internet Notice by mail, you will not receive a printed copy of the proxy materials in the mail unless you specifically request them. Instead, the Internet Notice instructs you on how to access and review all of the important information contained in the proxy statement and 2020 Annual Report. The Internet Notice also instructs you on how you may submit your proxy over the Internet. If you received an Internet Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials contained on the Internet Notice. Printed Copies of Our Proxy Materials. If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b76", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b78"], "char_count": 819, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b8171af12525b91a54c62a568e3cc2103f9e6bccac95a27d53347a4e157dd854", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Voting Your Shares"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 76, "char_end": 218, "char_start": 0, "fragment_sha256": "185305bf3dddd4f2180ad703a69777a5f9975f45e2388e5b4f08f3a17c2cd93a", "heading_path": ["DEF 14A", "Voting Your Shares"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 78, "char_end": 599, "char_start": 0, "fragment_sha256": "14dcf5f3b40df95ac8bdd1aca8e4cd1742f49cbff0dbdb1c314fb43772e762e0", "heading_path": ["DEF 14A", "Voting Your Shares"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p22", "passage_kind": "narrative", "passage_sequence": 22, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s27", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "If you are the record holder of your shares, you may vote in one of four ways. You may vote by submitting your proxy over the Internet, by telephone, or by mail or you may vote electronically during the Annual Meeting.\n\nInternet and telephone voting facilities for stockholders of record will be available 24 hours a day and will close at 8:59 p.m. Pacific Time on June 16, 2021. Note that, in light of possible disruptions in mail service related to the COVID-19 pandemic, we encourage stockholders to submit their proxy via telephone or online. If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in “street name”), you should contact your bank or broker to obtain your virtual control number or otherwise vote through the bank or broker."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b80"], "char_count": 1741, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "69f853f4a942c06bd049871f01cc398c84ef2fdfc964b1ef025f0897218c6fae", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Attending the Annual Meeting Online"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 80, "char_end": 1741, "char_start": 0, "fragment_sha256": "6434702b897e1855a66a449a4c508835465207f177c3fb35ab720eaeb23f7eb8", "heading_path": ["DEF 14A", "Attending the Annual Meeting Online"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p23", "passage_kind": "narrative", "passage_sequence": 23, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s28", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Due to the public health impact of the COVID-19 pandemic and to support the health and well-being of our stockholders, this year’s Annual Meeting will be held in a virtual meeting format only. The Annual Meeting will convene at 9:00 a.m. Pacific Time on June 17, 2021. In order to participate in the Annual Meeting live via the Internet, you must register at www.viewproxy.com/opendoor/2021 by 11:59 p.m. Pacific Time on June 16, 2021. If you are a registered holder, you must register using the virtual control number included on your Notice of Internet Availability of Proxy Materials or your proxy card (if you received a printed copy of the proxy materials). If you hold your shares beneficially through a bank or broker, you must provide a legal proxy from your bank or broker during registration and you will be assigned a virtual control number in order to vote your shares during the Annual Meeting. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting (but will not be able to vote your shares) so long as you demonstrate proof of stock ownership. Instructions on how to connect and participate via the Internet, including how to demonstrate proof of stock ownership, are posted at www.viewproxy.com/opendoor/2021. On the day of the Annual Meeting, if you have properly registered, you may enter the Annual Meeting by logging in using the password you received via email in your registration confirmation at www.viewproxy.com/opendoor/2021/vm. Even if you plan to attend the live webcast of the Annual Meeting, we encourage you to vote in advance by Internet, telephone or mail so that your vote will be counted even if you later decide not to attend the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b82"], "char_count": 738, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c82615b4bc855d2444dde1ec0863243dde0961ef0e4591ced484221722f2bc98", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Technical Difficulties"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 82, "char_end": 738, "char_start": 0, "fragment_sha256": "3f14815d8912a4ae74d2e5459955498f178ded8e76e80fb4753750f6d8768041", "heading_path": ["DEF 14A", "Technical Difficulties"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p24", "passage_kind": "narrative", "passage_sequence": 24, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s29", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We will have technicians ready to assist you with any technical difficulties you may have accessing the Annual Meeting live audio webcast. Please be sure to check in by 8:30 a.m. Pacific Time on June 17, 2021, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please email VirtualMeeting@viewproxy.com or call 1-866-612-8937. The platform we are using for the Annual Meeting live audio webcast will require a software installation or the ability to run a temporary application in order for you to join the Annual Meeting live audio webcast."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b84", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b87", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b88"], "char_count": 1563, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "38ae9290e31264d6ddf71eeda8a9b0f509f654dc8a475c785440cadfcabec104", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Questions and Answers during the Annual Meeting"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 84, "char_end": 590, "char_start": 0, "fragment_sha256": "5e0e860085c1a816b28eaae2881618adcf3ba969ca0e7c8944233c22a03805c9", "heading_path": ["DEF 14A", "Questions and Answers during the Annual Meeting"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 87, "char_end": 1, "char_start": 0, "fragment_sha256": "81c748c427cf73e5113ee08c6e2752b75d381ad24c8baa81085f00540c2ae947", "heading_path": ["DEF 14A", "Questions and Answers during the Annual Meeting"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 88, "char_end": 968, "char_start": 0, "fragment_sha256": "5ca9c33566467ba2b2d3259a258ffb0b272bbae6dceb44482ba565dbca721656", "heading_path": ["DEF 14A", "Questions and Answers during the Annual Meeting"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s30", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer questions submitted online during or prior to the meeting that are pertinent to the Company and the meeting matters, as time permits. Only stockholders that have accessed the Annual Meeting as a stockholder by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things:\n\n•\n\nirrelevant to the business of the Company or to the business of the Annual Meeting; related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; related to any pending, threatened or ongoing litigation; related to personal grievances; derogatory references to individuals; substantially repetitious of questions already made by another stockholder; in excess of the two-question limit; in furtherance of the stockholder’s personal or business interests; or out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the Chair or Secretary in their reasonable judgment. 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"6fbbff6ecdba0fe9c984b578350c407a0cb129825420d4b47b67a739c29bd90a", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Recommendations of the Board"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 107, "char_end": 491, "char_start": 0, "fragment_sha256": "c54f3175850bcf2b9ae63a733be2f61e7f1d9564b40f3347721f17fb8f1a2c97", "heading_path": ["DEF 14A", "Recommendations of the Board"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p27", "passage_kind": "narrative", "passage_sequence": 27, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s31", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "At the Annual Meeting, our stockholders will be asked to vote on the proposals set forth below. The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or over the Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted in accordance with the Board’s recommendations as follows:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b110"], "char_count": 1045, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1cf524260094ab3048bfd213445cb104ed65082ab1c26b4c1d8d14695456c3ca", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Broker Non-Votes"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 110, "char_end": 1045, "char_start": 0, "fragment_sha256": "78217b09e7c9372ce73b8c088ffee28c072f09fbe00dc2cbd26f8d2761d53ff1", "heading_path": ["DEF 14A", "Broker Non-Votes"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s32", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. You should direct your broker how to vote the shares held in your account. Under applicable stock exchange rules, if you do not instruct your broker on how to vote your shares, your broker will be able to vote your shares with respect to certain “routine” matters, but will not be allowed to vote your shares with respect to certain “non-routine” matters. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter. Each other proposal to be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in “street name” for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b112", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b113", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b114", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b115", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b116", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b117", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b118", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b121"], "char_count": 1220, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": 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attend the Annual Meeting and vote electronically. A proxy may be revoked before it is used to cast a vote at the Annual Meeting. If the shares you own are held in your name, you can revoke a proxy by doing one of the following: filing with our Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; duly executing a later-dated proxy relating to the same shares and delivering it to our Secretary before the taking of the vote; or attending the Annual Meeting and voting electronically. However, your attendance at the Annual Meeting will not automatically revoke your proxy unless you vote again at the Annual Meeting.\n\n•\n\n​\n\n•\n\n​\n\n•\n\n​\n\nAny written notice of revocation or subsequent proxy should be sent to us at the following address: Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Elizabeth Stevens, Secretary. If the shares you own are held in street name, you will need to follow the directions provided to you by your bank or brokerage firm to change your vote."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b123"], "char_count": 636, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9559ad79581b7113d13b652e5ae3fad619c4b378ae9375b41eba28e7d3004eb2", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Quorum and Votes Required"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 123, "char_end": 636, "char_start": 0, "fragment_sha256": "2e00c457e1caf9d30c51d5c6f9187d3000676fa6b3e3db4d3b2509b4bc881c79", "heading_path": ["DEF 14A", "Quorum and Votes Required"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The presence electronically or representation by proxy of a majority in voting power of the shares of common stock of the Company entitled to vote at the Annual Meeting is necessary to establish a quorum. Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained. The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of abstentions and broker non-votes."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b124"], "char_count": 1470, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f6777bc1eabb84d1c8fdb2f22cf86bd97ee1c7604d23be758071f40d97a9ccff", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Quorum and Votes Required"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 124, "char_end": 1458, "char_start": 0, "fragment_sha256": "0b29c1aa170fcfeb55fd5ade962f8ce5cbb77b5c052688b3f74ea83f5db8efb9", "heading_path": ["DEF 14A", "Quorum and Votes Required"], "table_index": 5, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p31", "passage_kind": "table", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b124", "text": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | Proposal | ​ | ​ | Votes Required | ​ | ​ | Effect of Votes Withheld/​ Abstentions and Broker Non-Votes | ​ |\n| ​ | Proposal 1: Election of Directors | ​ | ​ | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative “FOR” votes will be elected as Class I Directors. | ​ | ​ | Votes withheld and broker non-votes will have no effect. | ​ |\n| ​ | Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | ​ | ​ | The affirmative vote of the holders of a majority in voting power of the votes cast. | ​ | ​ | Abstentions will have no effect. We do not expect any broker non-votes on this proposal. | ​ |\n| ​ | Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (“Say-on-Pay Vote”) | ​ | ​ | The affirmative vote of the holders of a majority in voting power of the votes cast. | ​ | ​ | Abstentions and broker non-votes will have no effect. | ​ |\n| ​ | Proposal 4: Approval, on an Advisory (Non-Binding) Basis, of the Frequency of Future Say-on-Pay Votes | ​ | ​ | The affirmative vote of the holders of a majority in voting power of the votes cast. If no frequency receives the foregoing vote, we will consider the frequency (ONE YEAR, TWO YEARS or THREE YEARS) t… | ​ | ​ | Abstentions and broker non-votes will have no effect. | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b125"], "char_count": 362, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1cfdcc183c94eeb3521c70945403fddd193bc4a256827e6b3a8d6a073e3e87c3", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Quorum and Votes Required"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 125, "char_end": 362, "char_start": 0, "fragment_sha256": "5147f69f32c011fb213654ae93a0a737dd610fb30e6bf92c4b08a8213f0ea75d", "heading_path": ["DEF 14A", "Quorum and Votes Required"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s34", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The votes will be counted, tabulated and certified by a representative of Alliance Advisors, the Company’s inspector of election for the Annual Meeting. We plan to announce preliminary voting results at the Annual Meeting and we will report the final results in a Current Report on Form 8-K, which we intend to file with the SEC shortly after the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b129"], "char_count": 136, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dae217ab0009e88a37dab83047efff2d6ab4a987b57f883902b9e8f3e02a1b28", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["DEF 14A", "Quorum and Votes Required", "PROPOSAL ONE — ELECTION OF DIRECTORS"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 129, "char_end": 136, "char_start": 0, "fragment_sha256": "c8ec775a52b9c8041d22e392d5e629c293392942e72bc2647fb79779f0ab9180", "heading_path": ["DEF 14A", "Quorum and Votes Required", "PROPOSAL ONE — ELECTION OF DIRECTORS"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s35", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Board has nominated Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I director nominees for election at the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b132"], "char_count": 599, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4edd7b839acf3db895ca247797cc27fdd1f36083f292919e806e45b73e868bda", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 132, "char_end": 599, "char_start": 0, "fragment_sha256": "b5c9ed0486b8a4f49ff4cf5e9424fb4f9f0823963bccbdd12a17e1d57fdb3e97", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Our Board is currently comprised of eight directors. As described in our Certificate of Incorporation (“Certificate of Incorporation”) our Board is currently divided into three classes. The term of our Class I directors expires at this Annual Meeting, the term of our Class II directors expires at the annual meeting of stockholders in 2022 and the term of our Class III directors expires at the annual meeting of stockholders in 2023. The following table describes the schedule for the election of our directors over the next three annual meetings and the terms our directors will serve if elected."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b133"], "char_count": 497, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b858773b6df3871af85b292b39d6b8f13223b5fefad172d9169f8125a4155068", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 133, "char_end": 396, "char_start": 0, "fragment_sha256": "87a8dd7fa4548dca1e28b79a55afcdd9cb9699fc0b36476d3b816e5f8e713bf6", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": 6, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p35", "passage_kind": "table", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b133", "text": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | Meeting | ​ | ​ | Class of Directors Standing for Election | ​ | ​ | Term | ​ |\n| ​ | 2021 Annual Meeting | ​ | ​ | Class I | ​ | ​ | Three-year term expiring at 2024 Annual Meeting | ​ |\n| ​ | 2022 Annual Meeting | ​ | ​ | Class II | ​ | ​ | Three-year term expiring at 2025 Annual Meeting | ​ |\n| ​ | 2023 Annual Meeting | ​ | ​ | Class III | ​ | ​ | Three-year term expiring at 2026 Annual Meeting | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b134"], "char_count": 701, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f53a57327803d8657302e06c34a8bbedce02c40d4aeea5779eec1d92a65af40a", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 134, "char_end": 701, "char_start": 0, "fragment_sha256": "c434a5a8aaa059da67b7e6e00065710dfe72ee1bd9a3cb9815595fde37199b03", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s36", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "If you return a duly executed proxy card without specifying how your shares are to be voted, the persons named in the proxy card will vote to elect Cipora Herman, Jonathan Jaffe and Glenn Solomon as Class I directors. Cipora Herman, Jonathan Jaffe and Glenn Solomon currently serve on our Board and have indicated their willingness to continue to serve if elected. However, if any director nominee should be unable to serve, or for good cause will not serve, the shares of common stock represented by proxies may be voted for a substitute nominee designated by our Board, or our Board may reduce its size. Our Board has no reason to believe that any of the nominees will be unable to serve if elected."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b136"], "char_count": 780, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b04e0b37d77c65bd537855791bd318554c32bed6833c6d119e107b1b78190698", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Our Board of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 136, "char_end": 780, "char_start": 0, "fragment_sha256": "4ced7ce600c9fdd204d18860ff6b7ee360b432fc52ca681ef302f1b080928f10", "heading_path": ["DEF 14A", "Our Board of Directors"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s37", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The biographies of each of our current directors, including our Class I director nominees, are included below. Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. No arrangements or understandings exist between any director and any other person pursuant to which such person was selected as a director or nominee."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b141"], "char_count": 389, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f1a666bb7c689535dab70b230578dede144d8002d185d2c7fcd8fb976d6533e6", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 141, "char_end": 1599, "char_start": 0, "fragment_sha256": "efa960062f6667e9d2a56d021bf0928b7f0c91663f47d6b025802522313bd455", "heading_path": ["DEF 14A", "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)"], "table_index": 7, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p38", "passage_kind": "table", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b141", "text": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| ​ | ​ | ​ | ​ | CIPORA HERMAN​ | ​ |\n| ​ | Director Since: 2020 Age: 47 Committee Memberships: • Audit (CHAIR) ​ | ​ | ​ | Cipora Herman has served on Opendoor Technologies Inc.’s Board since December 2020 and previously served as a member of SCH’s board of directors until December 2020. Since January 2021, Ms. Herman ha… | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b142"], "char_count": 412, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0d34e958207c177aad0fb4c9b2230f9467ea38c148b8f109fcdd9c1b2121c93c", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 142, "char_end": 1329, "char_start": 0, "fragment_sha256": "c8e9970a602ed9853642eae2f43893a06a5e3c7b65a47f0d0d2e220861d650ee", "heading_path": ["DEF 14A", "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)"], "table_index": 8, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p39", "passage_kind": "table", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b142", "text": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| ​ | ​ | ​ | ​ | JONATHAN JAFFE​ | ​ |\n| ​ | Director Since: 2020 Age: 61 Committee Memberships: • Nominating and Corporate Governance ​ | ​ | ​ | Jonathan Jaffe has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.’s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Ch… | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b143"], "char_count": 396, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f1480f7f40f93962bb63e9aa5c80773922b3fe97413e86f235f4f1b7540a65c3", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 143, "char_end": 903, "char_start": 0, "fragment_sha256": "669e99b8eb81324061dfe4c6da0339199ba187294731fff6580e161c7e375ded", "heading_path": ["DEF 14A", "Class I director nominees to be elected at the 2021 Annual Meeting (subsequent terms to expire in 2024)"], "table_index": 9, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p40", "passage_kind": "table", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s39", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b143", "text": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| ​ | ​ | ​ | ​ | GLENN SOLOMON​ | ​ |\n| ​ | Director Since: 2020 Age: 52 Committee Memberships: • Compensation (CHAIR) ​ | ​ | ​ | Glenn Solomon has served on our Board since December 2020 and has also served as a member of Opendoor Labs Inc.’s board of directors from February 2015 until December 2020. 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The Board regularly reviews our governance practices to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b160"], "char_count": 996, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "753f450b56a91f6d55018ff0150bc13b8f33b4007d3d16090f34984e3de79b7d", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Corporate Governance Highlights"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 160, "char_end": 1390, "char_start": 0, "fragment_sha256": "f89d3b34decb3284b56358c1b5488f45e5da9df82ad2cfe53d61fa0a31ea863c", "heading_path": ["DEF 14A", "Corporate Governance Highlights"], "table_index": 15, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p47", "passage_kind": "table", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s43", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b160", "text": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | ​ | Independent Oversight | ​ | ​ | ​ | • 7 of 8 directors are independent ​ • Regular executive sessions of independent directors at Board meetings and committee meetings ​ • 100% independent Board committees ​ • Active Board and committe… | ​ | ​ |\n| ​ | ​ | Board Effectiveness | ​ | ​ | ​ | • Directors possess deep and diverse set of skills and expertise relevant to oversight of our business operations and strategy ​ • Annual assessment of director skills to ensure Board meets the Compa… | ​ | ​ |\n| ​ | ​ | Stockholder Rights | ​ | ​ | ​ | • One class of common stock with each share entitled to one vote ​ • No poison pill ​ | ​ | ​ |\n| ​ | ​ | Good Governance Practices | ​ | ​ | ​ | • Code of Business Conduct applicable to directors and all employees ​ • Insider Trading and Trading Window Policy prohibits hedging transactions, short sales, and buying or selling puts, calls, opti… | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b162"], "char_count": 304, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ac8174b9de4d4f4d3fe34e7983070094ad4f80718fa052e1d4d0aa81deb158b3", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 162, "char_end": 304, "char_start": 0, "fragment_sha256": "fdc9f8322b6d4726644e081801e6410f42d3f92fbd0eb12177be97d652034c9d", "heading_path": ["DEF 14A", "Director Independence"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s44", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Our Board has determined that all of our non-employee directors, who are listed below, meet the applicable criteria for independence established by the Nasdaq Stock Market LLC (“Nasdaq”). 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"c3b48499d3e0399ca45beb814dd9b9fcbfeb592fb32b07a8d4eb14200e8f9b8e", "heading_path": ["DEF 14A", "Director Independence"], "table_index": 16, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p49", "passage_kind": "table", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s44", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b163", "text": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | Independent Directors | ​ | ​ | ​ | ​ | ​ | ​ | ​ |\n| ​ | • Adam Bain ​ • Cipora Herman ​ | ​ | ​ | • Jonathan Jaffe ​ • Pueo Keffer ​ • Jason Kilar ​ | ​ | ​ | • John Rice ​ • Glenn Solomon ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b164"], "char_count": 252, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3558d3588041460dfe453b709b9d611f71108664710123785e670739f84509de", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 164, "char_end": 252, "char_start": 0, "fragment_sha256": "112ffb3b8f0140f0fc7e6366f3e8047f26b4b8c690811226dde756d38efd9fef", "heading_path": ["DEF 14A", "Director Independence"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s44", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "In arriving at the foregoing independence determinations, the Board reviewed and discussed information provided by the directors with regard to each director’s business and personal activities and any relationships they have with us and our management."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b166"], "char_count": 1153, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c13a627e2a1a8d7132aa7d720d4a1d07e71da814a2fbbc270b3e29d3a72ab5f1", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Leadership Structure"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 166, "char_end": 1153, "char_start": 0, "fragment_sha256": "ee096ca9c059ee33328e473567ace8d1cbc80cd768b00eda6cf42e67c01c0dce", "heading_path": ["DEF 14A", "Board Leadership Structure"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We do not have any fixed rule as to whether our Chairperson and Chief Executive Officer positions should be separate, or whether our Chairperson should be an employee or elected from among non-employee directors. We believe that it is in the best interests of the Company to have the flexibility to evaluate our leadership structure over time as part of Opendoor’s ongoing succession planning process. Our Corporate Governance Guidelines provide that an independent “Lead Director” may be elected from among the independent directors when the Chairperson of the Board is not an independent director. We do not have a Lead Director at this time. The Board has determined that the best leadership structure for Opendoor at this time is to combine the Chairperson and Chief Executive Officer positions, with Mr. Wu serving as Chairperson and Chief Executive Officer. Our Board has determined that combining the roles of Chairperson of the Board and Chief Executive Officer is best for our Company and its stockholders at this time because it provides unified leadership by Mr. Wu and allows for a single, clear focus for management to execute the Company’s"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b168"], "char_count": 3808, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3939ca498cda76374d40f46c79d432970307b06f97673de9042ea7ea642204d4", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Leadership Structure"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 168, "char_end": 3808, "char_start": 0, "fragment_sha256": "8608ac3446131f9a17e2226a4b78e00bd0b7ace25650908cd8e45016eb246e55", "heading_path": ["DEF 14A", "Board Leadership Structure"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS strategy and business plans. Our Board is composed of individuals with extensive experience in the technology industry and public company management. In addition, each of our standing Board committees is composed of, and chaired by, independent directors. For these reasons and because of the strong leadership of Mr. Wu, our Board has concluded that our current leadership structure is appropriate at this time. Board Meetings and Attendance Board members are expected to prepare for, attend and participate in all meetings of the Board and committees on which they serve. Given the timing of the closing of our Business Combination on December 18, 2020, our Board held one meeting in 2020. During 2020, each director attended 100% of the aggregate of the total number of Board meetings and committee meetings on which they then served, other than Jason Kilar who was unable to attend the one Board meeting held in 2020. We do not maintain a formal policy regarding director attendance at the annual meeting; however, it is expected that directors will attend. Executive Sessions of Independent Directors The Board holds executive sessions of its independent directors no less than two times per year. Director Orientation and Continuing Education The Board views orientation and continuing education as vital tools for building an effective Board. We provide all new directors with orientation sessions regarding the Board and the Company’s operations. The orientation consists of presentations by members of senior management on the Company’s strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and the competitive landscape. In addition, the Company intends to pay for certain expenses for any director who wishes to attend seminars, conferences and other continuing education programs designed for directors of public companies. Comprehensive, Ongoing Process for Board Succession Planning and Selection and Nomination of Directors As provided in our Corporate Governance Guidelines, the Board, together with the Nominating and Corporate Governance Committee, is responsible for determining the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics and the ability to read and understand basic financial statements. In considering candidates for Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating and Corporate Governance Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating and Corporate Governance Committee will evaluate whether incumbent directors possess the requisite skills and perspective, both individually and collectively."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b168"], "char_count": 1958, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "06f33a34abaf26408fdafd8f26e30e455e1a4547b5ced330c11066c16ae00871", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Leadership Structure"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 168, "char_end": 5766, "char_start": 3808, "fragment_sha256": "8608ac3446131f9a17e2226a4b78e00bd0b7ace25650908cd8e45016eb246e55", "heading_path": ["DEF 14A", "Board Leadership Structure"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "In addition, the Board will review those directors’ overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors’ independence. The Nominating and Corporate Governance Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating and Corporate Governance Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating and Corporate Governance Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating and Corporate Governance Committee reviews the backgrounds of those candidates, evaluates candidates’ independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating and Corporate Governance Committee for candidates for election as a director. Cipora Herman, a Class I director nominee, was initially recommended to serve on our Board by SCH and was selected by our Chief Executive Officer. Jonathan Jaffe and Glenn Solomon, both Class I director nominees, were initially recommended to serve on our Board by our Chief Executive Officer. Consideration of Board Diversity The Board and the Nominating and Corporate Governance Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. 38% of our directors self-identify as having diverse characteristics. 10"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b170"], "char_count": 567, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "48c2f578f7d26e8363003d8cad2d402865685bcf4b4e3d435ea9a16afd4e5f5b", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Leadership Structure"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 170, "char_end": 567, "char_start": 0, "fragment_sha256": "34483ddfcfe3005b4f92298a1c55da67900d400104472eebdf348b321dc2837e", "heading_path": ["DEF 14A", "Board Leadership Structure"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s45", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Company believes that a Board made up of highly qualified individuals from diverse backgrounds promotes better corporate governance and performance and effective decision-making and thus has included diversity as a factor that will be taken into consideration by the Nominating and Corporate Governance Committee and the Board when identifying director candidates and recommending or selecting nominees for election by stockholders. The Board intends to assess the effectiveness of its policy on diversity through an annual Board and committee evaluation process."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b172"], "char_count": 833, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7852d7a342a09ea6277089fb9513d79b6d0847f99cca3cbba908d6b8b1341358", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Stockholder Recommendations of Director Candidates"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 172, "char_end": 833, "char_start": 0, "fragment_sha256": "2381184dabeee699f09c6c95c0be1594b238180719d2403cfde4621a08b4b141", "heading_path": ["DEF 14A", "Stockholder Recommendations of Director Candidates"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p55", "passage_kind": "narrative", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s46", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Stockholders may recommend individuals to the Nominating and Corporate Governance Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating and Corporate Governance Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Elizabeth Stevens, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating and Corporate Governance Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b174"], "char_count": 493, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c8b09632a3fab4d6c68916026e21bfb078d2edea3faadde120e693ff03e9dd3d", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Corporate Governance Documents"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 174, "char_end": 493, "char_start": 0, "fragment_sha256": "2562912cfa4d35814b1d3ea2a3c7c34545ac9733774d92fa2ef9181254d1774d", "heading_path": ["DEF 14A", "Corporate Governance Documents"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p56", "passage_kind": "narrative", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s47", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We believe that good corporate governance is important to ensure that Opendoor is managed for the long-term benefit of our stockholders. Our Nominating and Corporate Governance Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Complete copies of our Corporate Governance Guidelines and committee charters are available on the “Corporate Governance” section of our website at investor.opendoor.com."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b176"], "char_count": 467, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5cc96c5b2462fcf15523aee76221437e358ddf4a9587064858481e7aea6c9d88", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Code of Conduct"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 176, "char_end": 467, "char_start": 0, "fragment_sha256": "7a463f7de2775465e5d6eaf7f1717c212ec1cd4561452ba5f6f800a84609ad80", "heading_path": ["DEF 14A", "Code of Conduct"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p57", "passage_kind": "narrative", "passage_sequence": 57, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Board has adopted a written code of business conduct and ethics (the “Code of Conduct”), which applies to all of our employees, officers and directors. Our Code of Conduct is available in the “Corporate Governance” section of our website at investor.opendoor.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b178"], "char_count": 1198, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3a170ae246023f537265ce12371285ebf6c940bf6af0ecacddcafd88b657ce53", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Committees"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 178, "char_end": 1198, "char_start": 0, "fragment_sha256": "c8e1255eb89c9f80aee98e37584519c83066ae42c855646995341663ca9cb937", "heading_path": ["DEF 14A", "Board Committees"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p58", "passage_kind": "narrative", "passage_sequence": 58, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Our Board has established three standing committees — the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee — each of which operates under a charter that has been approved by our Board. Current copies of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee charters are posted on the “Corporate Governance” section of our website located at investor.opendoor.com. Due to the timing of the closing of the Business Combination on December 18, 2020, the Audit Committee held one meeting during 2020 and the Compensation Committee and Nominating and Corporate Governance Committee did not meet in 2020. Our Board has determined that all of the members of each of its committees are independent as defined under applicable Nasdaq rules. In addition, all members of the Audit Committee meet the heightened independence requirements contemplated by Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all members of the Compensation Committee satisfy the heightened independence requirements of the Nasdaq rules specific to the independence of compensation committee members."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b179"], "char_count": 712, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2c9fc0e8c546e0f0a4e7d74dfb8dbca65f1344fd56d2c27ea034ed39a4f7334c", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 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"table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b179", "text": "| | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | ​ | ​ | ​ | Committee Membership | ​ | | | | | | |\n| ​ | Name | ​ | ​ | Audit | ​ | ​ | Compensation | ​ | ​ | Nominating and Corporate Governance | ​ |\n| ​ | Adam Bain | ​ | ​ | ● | ​ | ​ | ● | ​ | ​ | ​ | ​ |\n| ​ | Cipora Herman | ​ | ​ | CHAIR+ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |\n| ​ | Jonathan Jaffe | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ● | ​ |\n| ​ | Pueo Keffer | ​ | ​ | ● | ​ | ​ | ​ | ​ | ​ | ​ | ​ |\n| ​ | Jason Kilar | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | CHAIR | ​ |\n| ​ | John Rice | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ● | ​ |\n| ​ | Glenn Solomon | ​ | ​ | ​ | ​ | ​ | CHAIR | ​ | ​ | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b180", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b183"], "char_count": 3151, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "426b860815872fae136a1531022de81a07612c614746f0cbfad0229406a41dc4", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Committees"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 180, "char_end": 59, "char_start": 0, "fragment_sha256": "25a36b5a632440701e9e6e4f4ba25b6264c0692b21e530a9f026bbbdd7299261", "heading_path": ["DEF 14A", "Board Committees"], "table_index": null, "tag_name": "table"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 183, "char_end": 3090, "char_start": 0, "fragment_sha256": "deb41eb1d61d3b426623b4c8e9d97eddbbe6b13ea135569e169173a54378a343", "heading_path": ["DEF 14A", "Board Committees"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p60", "passage_kind": "narrative", "passage_sequence": 60, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​ CHAIR = Committee Chair + = Financial Expert ● = Member ​\n\n​ ​ Audit Committee Current Committee Members: Cipora Herman (CHAIR) Adam Bain Pueo Keffer ​ ​ ​ Primary Responsibilities Include: • Appointing, compensating, retaining and overseeing our independent registered public accounting firm; ​ • Evaluating the independence of our independent registered public accounting firm; ​ • Reviewing with our independent registered public accounting firm the scope and results of their audit; ​ • Approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm; ​ • Overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC; ​ • Discussing guidelines and policies governing the process by which senior management assesses and manages our exposure to risk, our major financial risk exposures and the steps we have taken to monitor and control such risks; ​ • Reviewing and approving or ratifying related person transactions; ​ • Reviewing the adequacy and effectiveness of the Company’s accounting and internal control policies and procedures on a regular basis, including the responsibilities, budget, compensation and staffing of the Company’s internal audit function; and ​ • Establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters and the confidential anonymous submission of concerns regarding questionable accounting, internal controls or auditing matters. ​ Financial Expertise and Independence All members of the Audit Committee meet the independence standards of the Nasdaq and the SEC, as well as the financial literacy requirements of Nasdaq. The Board has determined that Ms. Herman qualifies as an “audit committee financial expert” as defined by SEC rules. Report The Report of the Audit Committee is set forth beginning on page 39 of this proxy statement. ​ ​ ​ ​ Nominating and Corporate Governance Committee Current Committee Members: Jason Kilar (CHAIR) Jonathan Jaffe John Rice ​ ​ ​ Primary Responsibilities Include: • Assisting in identifying, recruiting and, if appropriate, interviewing candidates to fill positions on our Board and, if it deems it appropriate, establishing procedures for stockholders to follow in submitting recommendations for candidates for the Board; ​ • Reviewing the background and qualifications of individuals being considered as director candidates; ​ • Recommending to our Board the nominees for election to our Board at annual meetings of our stockholders; ​ • Reviewing and making recommendations to the Board regarding committee and Board composition and size; ​ • Overseeing an evaluation of our Board and its committees; and ​ • Developing and recommending to our Board, and periodically reviewing, the Corporate Governance Guidelines. ​ Independence The Nominating and Corporate Governance Committee is composed entirely of directors who are independent under the Nasdaq rules. ​ ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b186"], "char_count": 1929, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "79d8ef59f1e85ba99a03f9955354416da58267934ddcbeb475a38ce611d7f2b3", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Committees"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 186, "char_end": 1929, "char_start": 0, "fragment_sha256": "0cfced002ac27fc485a73e968da5494aa6e13317ced573b7c74a606c9747f66b", "heading_path": ["DEF 14A", "Board Committees"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p61", "passage_kind": "narrative", "passage_sequence": 61, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s49", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​ ​ Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain ​ ​ ​ Primary Responsibilities Include: • Evaluating the performance of our Chief Executive Officer in light of any goals and objectives of the Company’s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the Chief Executive Officer’s compensation level; ​ • Evaluating the performance of our other executive officers in light of any goals and objectives of the Company’s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation of the other executive officers; ​ • Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; ​ • Reviewing the executive compensation plans in light of the Company’s goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and ​ • Appointing and overseeing any compensation consultants. ​ Independence The Compensation Committee is composed entirely of directors who are independent under the Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as non-employee directors under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 16 of this Proxy Statement for a discussion of the role of our executive officers and compensation consultant in determining executive compensation. ​ ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b188"], "char_count": 1948, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d5ba839ebca7610f0b678068130eb2ff6d61d4e613e0178cb8e6f557a3c02edc", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "The Board’s Role in Risk Oversight"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 188, "char_end": 1948, "char_start": 0, "fragment_sha256": "3f64286f25b96e605b705db0b402c1fab4fcdb4f05aed89e1422f34d067c2289", "heading_path": ["DEF 14A", "The Board’s Role in Risk Oversight"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p62", "passage_kind": "narrative", "passage_sequence": 62, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s50", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Board recognizes that the achievement of our strategic and commercial objectives involves taking risks and that those risks may evolve over time. The Board has oversight responsibility for Opendoor’s risk management function, which is designed to identify, assess and monitor fundamental financial and business risks across the Company’s operations and consider ways to address and mitigate those risks. Consistent with this approach, one of the Board’s primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company, including risks related to the ongoing COVID-19 pandemic. In addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. The Audit Committee reviews and discusses guidelines and policies governing the process by which senior management assesses and manages the Company’s exposure to risk, as well as the Company’s major financial risk exposures and the steps management has taken to monitor and control such exposures; The Compensation Committee, in approving and evaluating the Company’s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company’s compensation arrangements; and The Nominating and Corporate Governance Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. 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"company_name": "Opendoor Technologies Inc.", "content_sha256": "8d7b92854e20f165d30102e0714e998362bf2f0d6fc348d663a3abedd58ce2d2", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Hedging of Company Securities"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 198, "char_end": 925, "char_start": 0, "fragment_sha256": "902f001564f52867de8004034bb7901acbde3c9626766c8b596d7b6d5de3e79b", "heading_path": ["DEF 14A", "Hedging of Company Securities"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p64", "passage_kind": "narrative", "passage_sequence": 64, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s51", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company’s securities. Directors, officers and employees of the Company are therefore prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading and Trading Window Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company’s equity securities whether they are granted to such individual by the Company as part of such person’s compensation or otherwise held, directly or indirectly, by such individual."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b200"], "char_count": 1087, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9a6002a08736a862c855b4b448f6d5d2b75bd36e2748b27ab215e2537bd35558", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Communications from Stockholders"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 200, "char_end": 1087, "char_start": 0, "fragment_sha256": "6951208ad3504744e70d7a7e3b108eeba644121326dd2b16909f12aee243289c", "heading_path": ["DEF 14A", "Communications from Stockholders"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p65", "passage_kind": "narrative", "passage_sequence": 65, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s52", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Our Secretary is primarily responsible for monitoring communications from stockholders and for providing copies or summaries to the directors, as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and Chairperson of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Beth Stevens, Head of Legal and Secretary, Opendoor Technologies Inc., 410 N. 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Technology Officer | ​ |\n| ​ | Tom Willerer | ​ | ​ | 43 | ​ | ​ | Chief Product Officer | ​ |\n| ​ | Daniel Morillo | ​ | ​ | 47 | ​ | ​ | Chief Investment Officer | ​ |\n| ​ | Elizabeth Stevens | ​ | ​ | 42 | ​ | ​ | Head of Legal and Secretary | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b204", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b205", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b206"], "char_count": 2480, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a21d8bc999fc335cb86a5563f34b1948784932d06c8c15d5eb4a650488891f6e", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": 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See “Proposal One — Election of Directors” for more information about Mr. Wu. Carrie Wheeler has served as our Chief Financial Officer since December 2020 and as Opendoor Lab Inc.’s Chief Financial Officer since September 2020. She was a member of Opendoor Labs Inc.’s board of directors from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer/​Retail Investing. Ms. Wheeler currently serves on the board of directors and audit committee of Dollar Tree, Inc. and on the board of directors, audit committee and compensation committee of APi Group Corporation. She has previously served on a number of other corporate boards, including Neiman Marcus Group, Inc. and Petco Animal Supplies, Inc. Ms. Wheeler holds a Bachelor of Commerce from Queen’s University. Andrew Low Ah Kee has served as our President since December 2020 and as Opendoor Labs Inc.’s President since November 2020. Mr. Low Ah Kee previously served in a range of executive positions at GoDaddy from 2014 to 2020, most recently as Chief Operating Officer. Prior to joining GoDaddy in 2014, Mr. Low Ah Kee was a Director at KKR Capstone where he worked closely with the Consumer, Technology and Media investment teams at KKR & Co. L.P. to evaluate investment opportunities and accelerate portfolio company growth. Before KKR, Mr. Low Ah Kee was a consultant with the Boston Consulting Group. Mr. Low Ah Kee holds a Bachelor of Applied Science from the University of Toronto and an M.B.A. from Harvard Business School. Ian Wong co-founded Opendoor and has served as our Chief Technology Officer since December 2020. Mr. Wong also served as Opendoor Labs Inc.’s Chief Technology Officer since April 2014. Mr. Wong previously held roles as a software engineer at Prismatic, Inc., a social news discovery company, and as an inference scientist at Square, Inc., a mobile payment company. Mr. Wong holds a B.S. and M.S. in Electrical Engineering and an M.S. in Statistics from Stanford University. Tom Willerer has served as our Chief Product Officer since December 2020 and as Opendoor Labs Inc.’s Chief Product Officer since September 2019. Mr. Willerer served as a partner at Venrock Ltd., a venture capital firm, from November 2017 to October 2019. Mr. Willerer served as Chief Product Officer at Coursera Inc., an e-learning company, from 2013 to November 2017. Prior to"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b207", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b209"], "char_count": 1688, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "25225528ab320c6018d56e3024e97affe593969819b582f75653e9a5cbebb479", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Our Executive Officers"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 207, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "Our Executive Officers"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 209, "char_end": 1685, "char_start": 0, "fragment_sha256": "00e24ef0f06d4597ff70a94bba4be0e3c9e520d3633eaa395cdfafa2e1edab8d", "heading_path": ["DEF 14A", "Our Executive Officers"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p69", "passage_kind": "narrative", "passage_sequence": 69, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s53", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\nTABLE OF CONTENTS Coursera, Mr. Willerer served as Director of Product Management at Facebook, Inc., a social media company, and as Vice President of Product Management at Netflix, Inc., a leading streaming entertainment company. Mr. Willerer is a member of the board of directors of Make School, a computer science higher education company. Mr. Willerer holds a B.A. in Business from Kelley School of Business at Indiana University and an M.A. in New Media Studies from DePaul University. Daniel Morillo has served as our Chief Investment Officer since January 2021. Prior to joining Opendoor, Mr. Morillo served as a Managing Director and Head of Quantitative Research at Citadel between September 2015 and December 2020. Mr. Morillo previously served as the Global Head of Investment Research for Incapture Investments and the co-head of BlackRock’s Model and Portfolio Solutions group. Mr. Morillo holds a B.S. in economics from Universidad San Fran de Quito, an M.S. in statistics from the University of Illinois, and a Ph.D. in econometrics from the University of Illinois. Elizabeth Stevens has served as our Head of Legal since December 2020 and as Opendoor Labs Inc.’s Head of Legal since December 2016 and as our Corporate Secretary since December 2019. Prior to joining Opendoor, Ms. Stevens served as the General Counsel of Earnest Inc., a consumer lending company. Ms. Stevens previously served as the General Counsel of Sidecar Technologies Inc., a ride-sharing company. Ms. Stevens holds a B.A. in Economics from Northwestern University, a J.D. from Northwestern University School of Law and an M.B.A. from the Kellogg School of Management at Northwestern University. 15"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b213", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b214", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b215", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b216", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b217", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b218", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b219", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b220", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b221", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b222", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b223", 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Our named executive officers for 2020 are: Eric Wu, our Chief Executive Officer (“CEO”); Carrie Wheeler, our Chief Financial Officer (“CFO”); Gautam Gupta, our former CFO and former Chief Operating Officer; Elizabeth Stevens, our Head of Legal; Julie Todaro, our former President of Homes and Services; and Tom Willerer, our Chief Product Officer. Eric Wu served as our President until November 2020 when Andrew Low Ah Kee joined us and was appointed as our President. Carrie Wheeler was appointed as our Chief Financial Officer in September 2020. Gautam Gupta, our Chief Operating Officer from July 2017 to December 2019, was appointed as our Chief Financial Officer in December 2019 and served in such capacity until September 2020, when Carrie Wheeler was appointed as our Chief Financial Officer. Mr. Gupta then served as a strategic advisor to our business from September 2020 until his separation from us in October 2020. As of the date of this proxy statement, Mr. Gupta is no longer an employee of the Company. On January 12, 2021, Ms. Todaro stepped down from her role as our President of Homes and Services effective January 12, 2021 and began serving as a strategic advisor to the Company.\n\n•\n\n​\n\n•\n\n​\n\n•\n\n​\n\n•\n\n​\n\n•\n\n​\n\n•\n\n​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b228"], "char_count": 800, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "563b4a42b8baa56d371330fa719789ce286cc57c87c63fb79a27db5fd9632cc4", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Compensation", "Compensation Philosophy, Objectives and Rewards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 228, "char_end": 800, "char_start": 0, "fragment_sha256": "1e7c4ab5f9aad73a03b932d6fd62b0dffa1e230c6c4446a658ceedae0ad7d0b9", "heading_path": ["DEF 14A", "2020 Compensation", "Compensation Philosophy, Objectives and Rewards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p71", "passage_kind": "narrative", "passage_sequence": 71, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The key objectives of our compensation program are (i) to allow us to attract and retain highly qualified executives, and (ii) allow employees the opportunity to be owners in the Company. We believe that our ability to keep our senior executive team engaged and productive is tied to our compensation programs. Additionally, for us to be appropriately positioned to attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation. Providing employees an opportunity to be owners in our business fosters their active engagement in our success and aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided executives with a compensation package consisting of the following elements:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b229"], "char_count": 447, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4776d9d3675cba1b863b67245e28711c0b2af9a6df38d5f93b5f8937668c4784", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Compensation", "Compensation Philosophy, Objectives and Rewards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 229, "char_end": 377, "char_start": 0, "fragment_sha256": "6647c8c04f05ce316abf3fa8a096644559b0961af239b366ecd50788b4679a1f", "heading_path": ["DEF 14A", "2020 Compensation", "Compensation Philosophy, Objectives and Rewards"], "table_index": 19, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p72", "passage_kind": "table", "passage_sequence": 72, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b229", "text": "| | | | | | |\n| --- | --- | --- | --- | --- | --- |\n| ​ | Compensation Element | ​ | ​ | Compensation Purpose | ​ |\n| ​ | Base Salary | ​ | ​ | Recognize performance of job responsibilities and attract and retain individuals with superior talent. | ​ |\n| ​ | Long-Term Equity Compensation | ​ | ​ | Promote an employee ownership culture and the maximization of stockholder value by aligning the interests of employees and stockholders. | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b230"], "char_count": 368, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e7e56fd28d1965082cd18795508640e8a93b74cb92b147553e3de08530513f95", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Compensation", "Compensation Philosophy, Objectives and Rewards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 230, "char_end": 368, "char_start": 0, "fragment_sha256": "57b91b8061c7432ff98ab5585d317c59faff25a6b801d41bd44baf49220b2806", "heading_path": ["DEF 14A", "2020 Compensation", "Compensation Philosophy, Objectives and Rewards"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p73", "passage_kind": "narrative", "passage_sequence": 73, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "In addition, from time to time, we have provided cash sign-on and retention bonus arrangements as part of an employment offer. The amount of compensation awarded in these circumstances is established based on the executive officer’s role and responsibilities, long-term potential, and our expectations as to the officer’s individual performance or Company performance."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b233"], "char_count": 1150, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0e3ab6d2fc144aa65973072b356d0804b708b854c5d7bbbde7755384f9eb6081", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 233, "char_end": 1150, "char_start": 0, "fragment_sha256": "75f4f6b6f37d2e6180ad78d4bbc391665a75f81f795db47f46cb7c0addb8d1f2", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p74", "passage_kind": "narrative", "passage_sequence": 74, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "With respect to the portion of 2020 that preceded the closing of the Business Combination, our executive compensation program was administered by the board of directors of Opendoor Labs Inc., based on recommendations from Opendoor Labs Inc.’s Compensation Committee, which consisted of Jason Kilar and Glenn Solomon. The compensation of our named executive officers was first reviewed by Opendoor Labs Inc.’s Compensation Committee. Our CEO discussed the compensation and performance of our named executive officers with Opendoor Labs Inc.’s Compensation Committee. Management’s recommendations were based upon a review of the performance of our named executive officers, the Company’s overall performance and the assessment of each officer’s contributions to such performance, internal pay equity considerations and the competitiveness of the market for each officer’s services. Opendoor Labs Inc.’s Compensation Committee then generally evaluated any recommended compensation adjustments or awards to named executive officers and made recommendations to the Opendoor Labs Inc. board of directors, which ultimately determined executive compensation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b235"], "char_count": 3949, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "74c2007d61938c7097c32e92a6fc322481e53ce652423d320520e045ed63851f", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 235, "char_end": 3949, "char_start": 0, "fragment_sha256": "feb9149517ee5312d3ccad6972e69bd9812cf27c18b405a881f596d82c5faefc", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p75", "passage_kind": "narrative", "passage_sequence": 75, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS Since the closing of the Business Combination, our executive compensation program has been administered primarily by our Compensation Committee. The compensation of our named executive officers will be reviewed at least annually by our Compensation Committee and will be informed by the recommendations of our CEO. Our Compensation Committee will then evaluate and determine any recommended compensation adjustments or awards to our named executive officers or make recommendations to the Board for final determination. Compensation Consultant To support our Compensation Committee in fulfilling its duties, we have retained a third-party compensation consultant to assist us with the design and evaluation of compensation for our executive officers and directors. Pursuant to its charter, our Compensation Committee has the sole authority to retain, and replace as needed, compensation consultants to provide independent advice to our Compensation Committee, as well as the sole authority to approve the consultants’ fees and other terms and conditions of retention. Opendoor Labs Inc. first retained Compensia, Inc. (“Compensia”) in May 2018, although we did not engage Compensia to provide executive and director compensation consulting services and recommendations for compensation on a regular basis until 2019. During 2019, Opendoor Labs Inc.’s Compensation Committee received advice, data and recommendations from Compensia pertaining to the appropriate amount, mix and vesting and other terms for our executive compensation programs. During 2020, Opendoor Labs Inc.’s Compensation Committee received advice, data and recommendations from Compensia pertaining to certain equity grants made to our executive officers. In addition to the work Compensia performed for us in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or our Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us. During 2020, Compensia’s fees for services to us unrelated to executive and director compensation did not exceed $120,000. Competitiveness of Our Executive Compensation Program For purposes of comparing our executive compensation against the competitive market for the year 2020, the Opendoor Labs Inc. Compensation Committee reviewed the compensation levels and practices of a group of companies that were comparable to Opendoor Labs Inc. in terms of financial characteristics (revenue and market cap/valuation) and industry (to the extent available) and/or reflect talent/labor market peers. Although the analysis of competitive market data provided guiding information and a broad market check, the Opendoor Labs Inc. Compensation Committee did not specifically benchmark compensation for our executive officers in terms of picking a particular percentile relative to other people with similar titles at peer group companies. Instead, the Compensation Committee used its subjective judgment in determining the total compensation for each executive officer and considered the compensation peer group data in conjunction with a number of factors, including an executive officer’s individual skills and expertise, and the scope and criticality of each executive officer’s role. Going forward, Opendoor’s Compensation Committee will review the compensation peer group at least annually and make appropriate adjustments when needed, taking into account changes in our business and that of the companies in the peer group. Elements of Our Executive Compensation Program For 2020, the primary elements of our named executive officers’ compensation were base salary and long-term equity incentive awards. In addition, certain of our named executive officers also received a sign-on or retention bonus payment in 2020."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b235"], "char_count": 1456, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b434b72dc69eb032975603789c7ef33cd1558111ac02a0339135455c95085fab", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 235, "char_end": 5405, "char_start": 3949, "fragment_sha256": "feb9149517ee5312d3ccad6972e69bd9812cf27c18b405a881f596d82c5faefc", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p76", "passage_kind": "narrative", "passage_sequence": 76, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Base Salaries We provide a base salary as a fixed source of compensation for our named executive officers, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock and which, prior to the Business Combination, did not provide any opportunity for the officers to achieve liquidity. Our Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. However, our current practice is to not provide our executive officers with annual base salaries exceeding $350,000. Initial base salaries of our executive officers are established by taking into account their qualifications, experience, comparable market data and prior salary level. Thereafter, Opendoor Labs Inc.’s Compensation Committee generally has reviewed, and adjusted as necessary, base salaries for each of our executive officers, at a minimum annually. In setting base salary levels for 2020, Opendoor Labs Inc.’s Compensation Committee considered a range of factors, including: • the individual’s anticipated responsibilities and experience; ​ • our Compensation Committee members’ collective experience and knowledge in compensating similarly situated individuals at other companies; and ​ • the value of the executive officer’s existing equity awards. ​ 17"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b237"], "char_count": 101, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5ff840d4e704a71747a0c79754c66fbd85eb9b96e3ac896d172434fba1acc7f3", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 237, "char_end": 101, "char_start": 0, "fragment_sha256": "47013fc349b582bfd53f5b7f227a471c70e7ac1703f12c8441646fa083e60880", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p77", "passage_kind": "narrative", "passage_sequence": 77, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The table below sets forth the annual base salary rates during 2020 for each named executive officer."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b238"], "char_count": 506, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5e9bd6e68b5153dfa92421c1ea5b586f35a5a6eb17fbc56bb154b60fbc8a6e02", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 238, "char_end": 393, "char_start": 0, "fragment_sha256": "f5adab23dfb926804ee8eb2d037825c94735f061269a827df095145be640104d", "heading_path": ["DEF 14A", "Determination of Compensation", "Role of Our Compensation Committee and Executive Officers"], "table_index": 20, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p78", "passage_kind": "table", "passage_sequence": 78, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b238", "text": "| | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | Named Executive Officer | ​ | ​ | 2020 Annual Base Salary Rate | ​ | | | |\n| ​ | Eric Wu | ​ | ​ | ​ | $ | 325,000(1) | ​ | ​ |\n| ​ | Carrie Wheeler | ​ | ​ | ​ | $ | 350,000(2) | ​ | ​ |\n| ​ | Gautam Gupta | ​ | ​ | ​ | $ | 350,000 | ​ | ​ |\n| ​ | Julie Todaro | ​ | ​ | ​ | $ | 350,000 | ​ | ​ |\n| ​ | Tom Willerer | ​ | ​ | ​ | $ | 350,000 | ​ | ​ |\n| ​ | Elizabeth Stevens | ​ | ​ | ​ | $ | 300,000 | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b239", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b240", 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In January 2020, Mr. Wu, our CEO, entered into a new employment letter agreement, pursuant to which his base salary was increased from $275,000 to $325,000, effective January 1, 2020. The base salary increase was approved by Opendoor Labs Inc.’s board of directors in order to provide Mr. Wu with a more competitive total annual cash compensation package that would align with those provided to similarly situated officers of peer companies. Mr. Wu donated his salary to a relief fund for Company employees affected by staff reductions in force for a portion of 2020. In March 2021, the Compensation Committee of the Board increased Ms. Stevens’ annual base salary to $350,000.\n\n​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b247"], "char_count": 1681, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9891fd90e125c68de659788bde6c963bc8a6b2c8d7991db6385ffd125c26cee6", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 247, "char_end": 1681, "char_start": 0, "fragment_sha256": "18387ef0abbda5459e8141edb1cf649422b68b5e71886f6ce948292c4757bb23", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p80", "passage_kind": "narrative", "passage_sequence": 80, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We believe that providing long-term incentives in the form of equity awards encourages our named executive officers to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our employees, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Compensation Committee and Board believe that equity awards align employees’ interests and contributions with the long-term interests of the Company’s stockholders. In addition, our Compensation Committee and Board believe that offering meaningful equity ownership in the Company is helpful in retaining our named executive officers and other key employees. At the time of hire, executive officers have generally been granted stock options, restricted stock units (“RSUs”), or a mix of stock options and RSUs, the size and precise terms of which are determined at the time of hire of the individual executive officer, taking into account the anticipated role, his or her qualifications, experience, comparable market data and prior compensation level. The table below sets forth the RSUs granted to our named executive officers during 2020. We did not grant any stock options to our named executive officers during 2020. The size of the equity awards granted to our named executive officers in 2020 was determined based on the factors described above. The number of RSUs in the table (and the footnotes and narrative that follow the table) has been adjusted to reflect the impact of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b248"], "char_count": 486, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c234a0c2b751f14d34daf593eafa849c8d9c5d6f6f8412d9d7313e35281473ca", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", 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--- | --- | --- | --- | --- | --- | --- |\n| ​ | Named Executive Officer | ​ | ​ | RSUs Granted in 2020 (#)(1) | ​ | | | |\n| ​ | Eric Wu | ​ | ​ | ​ | ​ | 17,093,009(1) | ​ | ​ |\n| ​ | Carrie Wheeler | ​ | ​ | ​ | ​ | 4,433,699(2) | ​ | ​ |\n| ​ | Gautam Gupta | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Julie Todaro | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Tom Willerer | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Elizabeth Stevens | ​ | ​ | ​ | ​ | — | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b249", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b250", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b251"], "char_count": 1652, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "94e7e01d824afb527de51cdbfac590f952215f603ed2a387e541778785425497", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": 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"Long-Term Equity Compensation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 251, "char_end": 1644, "char_start": 0, "fragment_sha256": "a023783a8e0e6be1e9589d968b0fb94ed7919eb228d912e110839e3d5537d48c", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p82", "passage_kind": "narrative", "passage_sequence": 82, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n(1)\n\n2,207,236 of Mr. Wu’s RSUs will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the Opendoor Labs Inc.’s 2014 Stock Plan (the “2014 Plan”) and Mr. Wu’s RSU grant agreements. The “Service-Based Condition” will be satisfied in 16 successive equal quarterly installments following November 1, 2019. The “Liquidity Event Condition” was satisfied in full upon the first to occur of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. 14,885,774 of Mr. Wu’s RSUs will vest upon the satisfaction of performance-based vesting conditions. The performance-based vesting condition will be satisfied, subject to Mr. Wu’s continued employment with us through each applicable vesting date, as to 1/6th of the RSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change of Control (as defined in Mr. Wu’s employment letter agreement). These milestones are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b252", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b253", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b254", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b255", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b256"], "char_count": 652, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0dc2c9551fe74a9edf30795bf4593e55c7602f5775844c80ed3125e43cad1201", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 252, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 253, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 254, "char_end": 3, "char_start": 0, "fragment_sha256": "be72cd78b75d92ffedc2cdc9510d574da3e40d4d89fc05f1f60a3db28056f08c", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 255, "char_end": 638, "char_start": 0, "fragment_sha256": "c099411fb569ef9ac711b8d4b958a264edd8d1564436ff64c9db20d5cc9c2b50", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 256, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p83", "passage_kind": "narrative", "passage_sequence": 83, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n​\n\n(2)\n\n50,160 of Ms. Wheeler’s RSUs were granted to Ms. Wheeler in February 2020 in her capacity as a member of Opendoor Labs Inc.’s board of directors (the “Wheeler Director RSUs”). The Wheeler Director RSUs vested when the Liquidity Event Condition was satisfied. However, delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Wheeler’s RSU grant agreements. The “Liquidity Event Condition” was satisfied if either of the following events occurred on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration\n\n​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b258"], "char_count": 3848, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ad4e85c45f9659212f116251d6e23cb0d4c979e360b69c9bef948255a57759b7", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 258, "char_end": 3848, "char_start": 0, "fragment_sha256": "504aab1e9a1ec117d459951ad7e6e9a3eb9347420c86cc828fde7e8ec87106a8", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p84", "passage_kind": "narrative", "passage_sequence": 84, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS statement filed under the Securities Act, for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. 4,383,541 of Ms. Wheeler’s RSUs were granted to Ms. Wheeler in her capacity as our CFO (the “Wheeler CFO RSUs”) and will vest only if both (i) a liquidity-based vesting condition and (ii) either (a) a time-based vesting condition, or (b) a performance-based vesting condition are satisfied, in each case, subject to Ms. Wheeler’s continued employment with us through the applicable vesting date. The liquidity-based vesting condition was satisfied upon the closing of the Business Combination. 3,493,892 of the Wheeler CFO RSUs are subject to a time-based vesting condition whereby 25% of such RSUs vest on the first anniversary of Ms. Wheeler’s employment start date with us (the “Wheeler Start Date”) and 75% of such RSUs vest in substantially equal quarterly installments over a three-year period thereafter. 404,385 of the Wheeler CFO RSUs will begin vesting on the third anniversary of the Wheeler Start Date, subject to her continued employment with us on such date, and are subject to a time-based vesting condition whereby such RSUs vest in substantially equal quarterly installments over a two-year period following such anniversary. 485,262 of the Wheeler CFO RSUs are subject to a performance-based vesting condition whereby such RSUs vest upon the date on which the 60-day volume weighted-average closing price of the Company’s publicly-traded class of common stock is at least $16.48 or (ii) Change of Control (as defined in the Ms. Wheeler’s offer letter agreement) occurs in which the per share consideration is at least $16.48. ​ Prior to any contemplation of the Business Combination, Opendoor Labs Inc.’s board of directors, based on the recommendations of Compensia, determined to grant certain RSUs, described below as Pre-Listing RSUs and Post-Listing RSUs, to Mr. Wu to achieve the following objectives: (i) recognizing the unique market opportunity and extensive time horizon that Opendoor Labs Inc. would need to achieve its ultimate vision, (ii) supporting enduring CEO engagement and commitment, (iii) motivating Mr. Wu to create significant long-term stockholder value, and (iv) being fair and aligned with market, recognizing that there is a broad set of company peers. In September 2020, in anticipation of the Business Combination, Opendoor Labs Inc.’s board of directors reapproved these RSU grants to Mr. Wu based on the recommendations of Compensia. In connection with negotiations regarding the Business Combination, it was agreed that the dilutive effect of the Post-Listing RSUs should be borne by Opendoor Labs Inc.’s stockholders before the closing of the Business Combination. To achieve this goal, the Post-Listing RSUs were granted prior to the closing of the Business Combination on December 17, 2020. Providing that the Post-Listing RSU would vest only if certain price targets are met provides a retention element and strong alignment with Company stockholders. Specifically, pursuant to our continued employment letter agreement with Mr. Wu, entered into in January 2020 and amended in September 2020, Mr. Wu was granted 1,193,020 RSUs on February 6, 2020 and 1,014,215 RSUs on September 3, 2020 (together, the “Pre-Listing RSUs”), which vest according to the vesting schedule set forth in footnote 1 to the table above. Pursuant to this letter agreement, Mr. Wu was also granted 14,885,774 RSUs on December 17, 2020 (the “Post-Listing RSUs”), which have a term of seven years and which vest according to the vesting schedule set forth in footnote 1 to the table above. During 2020, our Chief Product Officer, Mr."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b258"], "char_count": 3940, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a2172a672bb9a93e37a43750383a96d7c54186cf0b203c6db3f91d8acf73fead", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 258, "char_end": 7788, "char_start": 3848, "fragment_sha256": "504aab1e9a1ec117d459951ad7e6e9a3eb9347420c86cc828fde7e8ec87106a8", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p85", "passage_kind": "narrative", "passage_sequence": 85, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Willerer, entered into an amendment to his offer letter agreement which provided, among other things, that if his employment with us is terminated (i) by us without Cause (as defined in Mr. Willerer’s offer letter agreement) or (ii) due to his resignation for Good Reason, in each case, within 12 months following a Change of Control (each such term as defined in his offer letter agreement), then 50% of all his then outstanding but unvested stock option and RSU awards, whether or not granted under his offer letter agreement, will automatically and immediately vest, subject to the timely execution and non-revocation of a general release of claims against us. Opendoor Labs Inc.’s board of directors determined to enter into these offer letter agreement amendments prior to the contemplation of the Business Combination in order to assure the Company of the officers’ continued services in the context of a potential Change of Control event. Pursuant to our offer letter agreement with Ms. Wheeler, entered into in September 2020, Ms. Wheeler was granted 3,979,154 RSUs on September 3, 2020 in two separate grants of 3,493,892 RSUs and 485,262 RSUs, each of which vests according to the applicable vesting schedule set forth in footnote 2 to the table above. Providing that the grant of 485,262 RSUs would vest only if certain price targets are met provides a retention element and strong alignment with Company stockholders. In connection with negotiations regarding the Business Combination, it was agreed that the dilutive effect of the grant of 404,385 RSUs should be borne by Opendoor Labs Inc.’s stockholders before the closing of the Business Combination. To achieve this goal, these RSUs were granted prior to the closing of the Business Combination on December 17, 2020 and vest according to the vesting schedule set forth in footnote 2 to the table above. RSU Grants Under the 2020 Plan Certain of our employees are entitled to receive equity awards under the Opendoor Technologies Inc. 2020 Incentive Award Plan (the “2020 Plan”) during 2021, including (1) a grant to Mr. Wu covering a number of shares equal to 1/8th of the 2020 Plan’s aggregate share reserve on the date of the closing of the Business Combination, and (2) grants to other Company employees covering, in the aggregate, 1/4th of the 2020 Plan’s aggregate share reserve on the date of the closing of the Business Combination. Pursuant to this, on April 1, 2021, Mr. Wu received a grant of 5,438,506 RSUs under the 2020 Plan with the vesting start date (the “Vesting Commencement Date”) set at January 15, 2021. These RSUs will vest in a series of 16 successive equal quarterly installments following the Vesting Commencement Date, subject to Mr. Wu’s continuous service to the Company through each such vesting date. Notwithstanding the foregoing or anything in the 2020 Plan to the contrary, if (1) the Company consummates a Change in Control (as defined in the 2020 Plan) and (2) Mr. Wu’s employment is terminated without Cause (as defined in his continued employment letter agreement with the Company, dated September 14, 2020 (the “Wu Agreement”)) or if he resigns from the Company for Good Reason (as defined in the Wu Agreement) in connection with or within 12 months after the Change in Control, then, effective as of Mr. Wu’s employment termination date, 100% of Mr. Wu’s then-unvested RSUs will become fully vested, subject to certain terms and conditions. 19 TABLE OF CONTENTS On April 1, 2021, Elizabeth Stevens received grants of 121,316 RSUs and a grant of 153,684 RSUs with Vesting Commencement Dates of March 15, 2021 and June 15, 2021, respectively. With respect to the grant of 121,316 RSUs, 25% of such RSUs vested on the Vesting Commencement Date of such grant, and 75% of such RSUs will vest on the one-year anniversary of that Vesting Commencement Date, subject to Ms. Stevens’ continuous service to the Company through such vesting date."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b258"], "char_count": 3894, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ad5919bfd43dbfeb85e408f4daa9dd34a8c52e7aaf2c7cee9a797a458d0d9f2a", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 258, "char_end": 11682, "char_start": 7788, "fragment_sha256": "504aab1e9a1ec117d459951ad7e6e9a3eb9347420c86cc828fde7e8ec87106a8", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p86", "passage_kind": "narrative", "passage_sequence": 86, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "With respect to the grant of 153,684 RSUs, 25% of such RSUs will vest on the Vesting Commencement Date of such grant, 50% of such RSUs will vest on the one-year anniversary of that Vesting Commencement Date, and 25% of such RSUs will vest on the two-year anniversary of that Vesting Commencement Date, subject to Ms. Stevens’ continuous service to the Company through each such vesting date. Notwithstanding the foregoing or anything in the 2020 Plan to the contrary, if (1) the Company consummates a Change in Control and (2) Ms. Stevens’ employment is terminated without Cause (as defined in the agreements evidencing the grant of her RSU awards (the “Stevens RSU Agreements”)) or if participant resigns from the Company for Good Reason (as defined in the Stevens RSU Agreements) in connection with or within 12 months after the Change in Control, then effective as of Ms. Stevens’ employment termination date, 100% of Ms. Stevens’ then-unvested RSUs will become fully vested, subject to certain terms and conditions. The above grants were determined following the Compensation Committee’s review of peer group information, advice provided by the Company’s compensation consultants, market rates for employee and consultant compensation, the economic position of the Company, broader economic conditions, the Company’s historical employee and consultant compensation structure, and the potential dilutive effect of equity awards on the Company’s stockholders. Sign-On and Retention Bonuses In order to attract top talent, we from time to time provide sign-on and retention compensation to external hires. In connection with the hire of Mr. Gupta in July 2017, we approved a one-time cash sign-on and retention bonus in the aggregate amount of $550,000, $150,000 of which was paid within 30 days after his employment start date, $125,000 of which was paid within 30 days after the first anniversary of his employment start date, and the remaining $275,000 of which was paid within 30 days after the second anniversary of his employment start date. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Mr. Gupta through the second anniversary of his employment start date. In connection with the hire of Mr. Willerer in July 2019, we approved a one-time cash sign-on and retention bonus in the aggregate amount of $190,000, $95,000 of which was paid within 30 days after his employment start date, and the remaining $95,000 of which is to be paid within 30 days after the first anniversary of his employment start date, subject to his continuous active employment with us through such anniversary date. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Mr. Willerer through the first anniversary of his employment start date. In connection with the hire of Ms. Todaro in September 2019, we approved a cash sign-on and retention bonus in the aggregate amount of $150,000, $75,000 of which was paid within 30 days after her employment start date, and the remaining $75,000 of which is to be paid within 30 days after the first anniversary of her employment start date, subject to her continuous active employment with us through such anniversary date. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Ms. Todaro through the first anniversary of her employment start date. In September 2019, we entered into a retention bonus agreement with Ms. Stevens (the “Stevens Retention Agreement”) pursuant to which Ms. Stevens was entitled to receive a retention bonus in the aggregate amount of $125,000 in two separate installments, subject to her continuous active employment with us through certain predetermined dates. Pursuant to the terms of the Stevens Retention Agreement, Ms."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b258"], "char_count": 2548, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "67df436d17458f4e8b8f91888716b6ecdb5ba18607bb9258de0cc112333241bc", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 258, "char_end": 14230, "char_start": 11682, "fragment_sha256": "504aab1e9a1ec117d459951ad7e6e9a3eb9347420c86cc828fde7e8ec87106a8", "heading_path": ["DEF 14A", "Determination of Compensation", "Long-Term Equity Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p87", "passage_kind": "narrative", "passage_sequence": 87, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Stevens was paid a bonus of $50,000 within 30 days following December 15, 2019 and was paid a bonus of $75,000 within 30 days following August 31, 2020. We believed that this retention bonus arrangement was appropriate as an incentive to help retain Ms. Stevens through each retention bonus installment date. In connection with the hire of Ms. Wheeler in September 2020, we approved a one-time cash sign-on and retention bonus in the aggregate amount of $100,000, net of applicable taxes, which was paid within five business days after her employment start date. However, if Ms. Wheeler resigns without Good Reason or is terminated by us for Cause (each, as defined in her offer letter agreement) at any time prior to the first anniversary of her employment start date, she is required to repay us the entire $100,000, less any non-refundable taxes, within 30 days after her last day of employment with us. We believed that this sign-on and retention bonus arrangement was appropriate as an incentive to join us and to help retain Ms. Wheeler through the first anniversary of her employment start date. Retirement Plans and Other Employee Benefits Our named executive officers are eligible to participate in our employee benefit plans and programs, including medical and dental benefits and life insurance, to the same extent as our other full-time employees, subject to the terms and eligibility requirements of those plans. We also sponsor a 401(k) defined contribution plan (the “401(k) Plan”), in which our named executive officers may participate, subject to limits imposed by the Internal Revenue Code of 1986, as amended, to the same extent as our other full-time employees. We believe that providing a vehicle for tax-deferred retirement savings though our 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers, 20 TABLE OF CONTENTS in accordance with our compensation policies. We do not typically provide any perquisites or special personal benefits to our named executive officers that are not available to all employees generally. In connection with the grant of stock options to Mr. Gupta in September 2017, Opendoor Labs Inc. granted Mr. Gupta the ability to exercise his option award up to an aggregate exercise price of $1.5 million with a 51% recourse promissory note (and pledge and security agreement) from Opendoor Labs Inc. dated March 29, 2018, bearing interest at the rate of 2.31% per annum, compounding annually. 21"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b262"], "char_count": 134, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7d469f3a48995b685331209785fc2d9b401dda46b8f8d851627cff60076a82b2", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 262, "char_end": 134, "char_start": 0, "fragment_sha256": "9640ae706772ffe5d164d1aa336aa137b259472cb620f94cafe620972432c8c5", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p88", "passage_kind": "narrative", "passage_sequence": 88, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s62", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The table below shows compensation of our named executive officers for the fiscal years ended December 31, 2019 and December 31, 2020."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b263"], "char_count": 3108, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2c01df7c633c83b56d9f7b2298bcd4a4051ecf9df4c216430c76a0e417a4855c", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "items": [], "locators": [{"artifact_id": 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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Name and Principal Position | ​ | ​ | Year | ​ | ​ | Salary ($) | ​ | ​ | Bonus ($)(1) | ​ | ​ | Stock Awards ($)(2) | ​ | ​ | Option Awards ($)(2) | ​ | ​ | All Other Compensation ($) | ​ | ​ | Total ($) | ​ | | | | | | | | | | | | | | | | | | | | | |\n| Eric Wu Chief Executive Officer | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | ​ | ​ | 189,584(3) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 370,051,408(4) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 370,240,992 | ​ | ​ |\n| ​ | ​ | ​ | 2019 | ​ | ​ | ​ | ​ | ​ | 275,000 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 275,000 | ​ | ​ | | |\n| Carrie Wheeler Chief Financial Officer | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | ​ | ​ | 114,722 | ​ | ​ | ​ | ​ | ​ | 100,000 | ​ | ​ | ​ | ​ | ​ | 50,060,723(5) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 50,275,445 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | | |\n| Gautam Gupta Former Chief Financial Officer | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | ​ | ​ | 231,625 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 231,625 | ​ | ​ |\n| ​ | ​ | ​ | 2019 | ​ | ​ | ​ | ​ | ​ | 337,500 | ​ | ​ | ​ | ​ | ​ | 275,000 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 612,500 | ​ | ​ | | |\n| Julie Todaro Former President of Homes and Services | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | ​ | ​ | 350,000 | ​ | ​ | ​ | ​ | ​ | 75,000 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 425,000 | ​ | ​ |\n| ​ | ​ | ​ | 2019 | ​ | ​ | ​ | ​ | ​ | 87,500 | ​ | ​ | ​ | ​ | ​ | 75,000 | ​ | ​ | ​ | ​ | ​ | 5,980,857 | ​ | ​ | ​ | ​ | ​ | 1,970,949 | ​ | ​ | ​ | ​ | ​ | 234,667 | ​ | ​ | ​ | ​ | ​ | 8,348,973 | ​ | ​ | | |\n| Tom Willerer Chief Product Officer | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | ​ | ​ | 350,000 | ​ | ​ | ​ | ​ | ​ | 95,000 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 445,000 | ​ | ​ |\n| ​ | ​ | ​ | 2019 | ​ | ​ | ​ | ​ | ​ | 118,490 | ​ | ​ | ​ | ​ | ​ | 95,000 | ​ | ​ | ​ | ​ | ​ | 5,418,620 | ​ | ​ | ​ | ​ | ​ | 1,331,280 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 6,963,390 | ​ | ​ | | |\n| Elizabeth Stevens Head of Legal | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | ​ | ​ | 300,000 | ​ | ​ | ​ | ​ | ​ | 75,000 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 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"source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n(1)\n\nAmounts listed represent sign-on and retention bonuses paid to Mses. Wheeler and Todaro and Messrs. Gupta and Willerer and a retention bonus paid to Ms. Stevens, each as described above in the section entitled “Compensation Discussion and Analysis — Sign-On and Retention Bonuses”.\n\n​\n\n(2)\n\nAmounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer. For additional information regarding the stock-based awards granted to our named executive officers in 2019, please see Note 14. Share-Based Awards to the consolidated financial statements included in our Annual Report on Form 10-K. For additional information regarding the stock-based awards granted to our named executive officers in 2020, refer to the “2020 Grants of Plan-Based Awards” table below.\n\n​\n\n(3)\n\nMr. Wu donated his salary for a portion of 2020 to a relief fund for Company employees affected by staff reductions in force. As a result of an inadvertent payroll error that was discovered on February 18, 2021 related to the temporary reduction of his salary, $81,250 of the salary Mr. Wu earned in 2020 was not paid until February 26, 2021. This reflects the total base salary Mr. Wu earned in 2020.\n\n​\n\n(4)\n\n$354,175,995 represents the grant date fair value of RSUs which are subject to performance-based vesting conditions (as described below in the section entitled “— Eric Wu Continued Employment Letter Agreement”). Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of RSUs granted to Mr. Wu in 2020 that are subject to performance-based vesting conditions is $438,237,347, which assumes the achievement of the highest level of such performance conditions."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b276", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b277", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b278", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b279"], "char_count": 546, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "36264cf0821b4534d64a97eca0126e6cf63ac4d00958a47521cc700e760774a5", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 276, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 277, "char_end": 3, "char_start": 0, "fragment_sha256": "e3acd91f5d2f937a4a0e0154903eb757b892b36bd6c5ab1142fead0dae2990ce", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 278, "char_end": 535, "char_start": 0, "fragment_sha256": "e108af159ac51a7133b47ac63cbb22e5fc1278d542d17d4df7159c53cab9213e", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 279, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "2020 Summary Compensation Table"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p91", "passage_kind": "narrative", "passage_sequence": 91, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s62", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n(5)\n\n$3,243,247 represents the grant date fair value of RSUs which are subject to performance-based vesting conditions (as described below in the section entitled “— Carrie Wheeler Offer Letter Agreement”). Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. 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The number of shares subject to the grants has been adjusted to reflect the impact of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b282"], "char_count": 1130, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "850d6276472b119f3b2ca07cc5b061d51fd89ac7a29fa096934ccf641bc9a80d", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 282, "char_end": 914, "char_start": 0, "fragment_sha256": 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--- | --- | --- | --- |\n| Name | ​ | ​ | Grant Date | ​ | ​ | Stock Awards: Number of Shares of Stock or Units (#) | ​ | ​ | Grant Date Fair Value Stock Awards ($)(1) | ​ | | | | | | | | | |\n| Eric Wu | ​ | ​ | ​ | ​ | 02/06/2020 | ​ | ​ | ​ | ​ | ​ | 1,193,020 | ​ | ​ | ​ | ​ | ​ | 5,811,902 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/03/2020 | ​ | ​ | ​ | ​ | ​ | 1,014,215 | ​ | ​ | ​ | ​ | ​ | 10,063,511 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 12/17/2020 | ​ | ​ | ​ | ​ | ​ | 14,885,774 | ​ | ​ | ​ | ​ | ​ | 354,175,995(2) | ​ | ​ |\n| Carrie Wheeler | ​ | ​ | ​ | ​ | 02/06/2020 | ​ | ​ | ​ | ​ | ​ | 50,160 | ​ | ​ | ​ | ​ | ​ | 244,359 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/03/2020 | ​ | ​ | ​ | ​ | ​ | 3,493,892 | ​ | ​ | ​ | ​ | ​ | 34,668,000 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/03/2020 | ​ | ​ | ​ | ​ | ​ | 485,262 | ​ | ​ | ​ | ​ | ​ | 3,243,247(3) | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 12/17/2020 | ​ | ​ | ​ | ​ | ​ | 404,385 | ​ | ​ | ​ | ​ | ​ | 11,905,117 | ​ | ​ |"} +{"artifact_role": 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"table_id": null, "text": "​\n\n(1)\n\nAmounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer.\n\n​\n\n(2)\n\nThis amount represents the grant date fair value of RSUs that are subject to performance-based vesting conditions (as described below in the section entitled “—\n\n​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b291"], "char_count": 3982, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "367fbbfc97a0b15d75d71c474a2c6e1049080cfdd6a8b930c7c1672121eaaece", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 291, "char_end": 3982, "char_start": 0, "fragment_sha256": "df22881d067dade91a4ed088dedfd0c0351df1e6adc5b578e1c6e856230f9812", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p95", "passage_kind": "narrative", "passage_sequence": 95, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS Eric Wu Continued Employment Letter Agreement”), which is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of RSUs granted to Mr. Wu in 2020 that are subject to performance-based vesting conditions is $438,237,347, which assumes the achievement of the highest level of such performance conditions. (3) This amount represents the grant date fair value of RSUs which are subject to performance-based vesting conditions (as described below in the section entitled “—​Carrie Wheeler Offer Letter Agreement”), which is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of RSUs granted to Ms. Wheeler in 2020 that are subject to performance-based vesting conditions is $4,815,000, which assumes the achievement of the highest level of such performance conditions. ​ Eric Wu Continued Employment Letter Agreement We entered into a continued employment letter agreement with Mr. Wu in January 2020, which the Opendoor Labs Inc. board of directors negotiated prior to the contemplation of the Business Combination, which was subsequently amended and restated in September 2020 (as amended, the “Wu Agreement”). The Wu Agreement provides for an unspecified term of employment and entitles Mr. Wu to an annual base salary of $325,000 as well as certain RSU awards (each shown here as adjusted to reflect the Business Combination). Pursuant to the Wu Agreement, Mr. Wu was granted 1,193,020 RSUs on February 6, 2020 and 1,014,215 RSUs on September 3, 2020 (together, the “Pre-Listing RSUs”), which will vest only if both the “Service-Based Condition” and the “Liquidity Event Condition” ​(each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Mr. Wu’s RSU grant agreements. The Service-Based Condition applicable to the Pre-Listing RSUs will be satisfied in 16 successive equal quarterly installments following November 1, 2019. The Liquidity Event Condition applicable to the Pre-Listing RSUs was satisfied in full upon the first to occur of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. However, delivery of shares subject to fully-vested RSUs may be delayed in accordance with the terms of the 2014 Plan and Mr. Wu’s RSU grant agreements. Pursuant to the Wu Agreement, Mr. Wu was also granted the Post-Listing RSUs, which have a term of seven years and vest upon (i) the occurrence of a “Listing Event” ​(as defined in the Wu Agreement) and (ii) the satisfaction of performance-based vesting conditions. The closing of the Business Combination satisfied the “Listing Event” vesting condition. The Post-Listing RSUs will satisfy the performance-based vesting condition, subject to Mr. Wu’s continued employment with us through each applicable vesting date, as to 1/6th of the Post-Listing RSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change of Control (as defined in the Wu Agreement). These milestones (as adjusted to reflect the Business Combination) are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23. In the event Mr. Wu’s employment with us is terminated (i) by us without Cause (as defined below) or (ii) due to his resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 100% of Mr."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b291"], "char_count": 3966, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "22edd225ec88efa8f9702e362471cf1f7b6032beb9d47a51f41eeee66ab6c886", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 291, "char_end": 7948, "char_start": 3982, "fragment_sha256": "df22881d067dade91a4ed088dedfd0c0351df1e6adc5b578e1c6e856230f9812", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p96", "passage_kind": "narrative", "passage_sequence": 96, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Wu’s Pre-Listing RSUs will become immediately vested. In addition, if Mr. Wu’s employment is terminated (i) by us without Cause or (ii) due to his resignation for Good Reason, regardless of whether a Change of Control has occurred, the Post-Listing RSUs shall remain outstanding and eligible to vest upon achievement of the share price milestones for a period of 60 days following the date of termination. The acceleration of the Pre-Listing RSUs is subject to Mr. Wu’s continued compliance with our Confidential Information and Invention Assignment Agreement and his timely execution and non-revocation of a general release of claims against us. This agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Wu Agreement: • “Cause” is generally defined to mean, subject to certain notice requirements and cure rights, Mr. Wu’s: (i) material breach of the his employment agreement, the Confidential Information and Invention Assignment Agreement or any material written policy of the Company; (ii) intentional repeated willful misconduct or gross neglect of his duties; (iii) his willful repeated failure to follow reasonable and lawful instructions from our Board; (iv) his conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (v) his commission of or participation in an act of fraud against the Company; or (vi) his intentional material damage to the Company’s business, property or reputation. ​ • “Good Reason” is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in his job responsibilities, duties, authority, or title (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in job responsibilities); (ii) a material reduction in his level of base compensation or total compensation unless such reduction is in connection and proportional to reductions to the compensation reductions to the other members of the management team and such reduction does not exceed 20% of his total cash compensation; (iii) a material breach of his employment agreement or the Confidential Information and Invention Assignment Agreement by the Company; or (iv) a relocation of his principal place of employment that increases his one-way commute by more than 45 miles. ​ Carrie Wheeler Offer Letter Agreement Our offer letter agreement with Ms. Wheeler (as amended, the “Wheeler Agreement”) provides for an unspecified term of employment and entitles her to a sign-on and retention bonus of $100,000 (which has been paid and is subject to the terms described above in 23 TABLE OF CONTENTS the section entitled “Compensation Discussion and Analysis — Sign-On and Retention Bonuses”), an annual base salary of $350,000, and certain RSU awards (each shown here as adjusted to reflect the Business Combination). Pursuant to the Wheeler Agreement, Ms. Wheeler, was entitled to receive the Wheeler CFO RSUs that are described above in the section entitled “Compensation Discussion and Analysis — Long-Term Equity Compensation”. Pursuant to the Wheeler Agreement, any equity awards Ms. Wheeler received in connection with her service as a member of our Board that were unvested as of the Wheeler Start Date became fully vested as to any service-based vesting conditions as of such date (but, for the avoidance of doubt, remained subject to any liquidity-based vesting conditions, which have not yet been met). In the event Ms. Wheeler’s employment with us is terminated (i) by us without Cause (as defined below) or (ii) due to her resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 100% of the Wheeler CFO RSUs with time-based vesting will become immediately vested. In addition, if Ms."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b291"], "char_count": 3995, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "be123e52bc98015bf1e93c1a6d715e8d078df212a18a4c842b8fdb1cf62adee6", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 291, "char_end": 11943, "char_start": 7948, "fragment_sha256": "df22881d067dade91a4ed088dedfd0c0351df1e6adc5b578e1c6e856230f9812", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p97", "passage_kind": "narrative", "passage_sequence": 97, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Wheeler’s employment with us is terminated (i) by us without Cause or (ii) due to her resignation for Good Reason, in each case, prior to such time as the performance-based vesting criteria for her RSUs subject to performance-based vesting are satisfied, such RSUs shall remaining outstanding and shall vest if the applicable performance-based vesting criteria are satisfied within 60 days of such termination. In addition, if Ms. Wheeler’s employment with us is terminated (i) by us without Cause or (ii) due to her resignation for Good Reason, in each case, prior to the first anniversary of the Wheeler Start Date, then be vested in 25% of the Wheeler CFO RSUs with time-based vesting that were granted on the Wheeler Start Date will vest. If such termination occurs within 12 months following a Change of Control, then 100% of the Wheeler CFO RSUs with time-based vesting that were granted on the Wheeler Start Date will vest. The Business Combination did not constitute a Change of Control. The acceleration of the Wheeler CFO RSUs described herein is subject to Ms. Wheeler’s continued compliance with our Confidential Information and Invention Assignment Agreement and her timely execution and non-revocation of a general release of claims against us. The Wheeler Agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Wheeler Agreement: • “Cause” is generally defined to mean, subject to certain notice requirements and cure rights, Ms. Wheeler’s: (i) material breach of the Wheeler Agreement, the Confidential Information and Invention Assignment Agreement or any material written policy of the Company; (ii) intentional repeated willful misconduct or gross neglect of her duties; (iii) her willful repeated failure to follow reasonable and lawful instructions from the Board; (iv) her conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (v) her commission of or participation in an act of fraud against the Company; or (vi) her intentional material damage to the Company’s business, property or reputation. ​ • “Good Reason” is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in Ms. Wheeler’s job responsibilities, duties, authority, or title (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in job responsibilities); (ii) a change in her reporting requirements so that she is no longer reporting solely to the person serving as the chief executive officer of the Company and/or the Board (provided that a change in reporting structure such that she reports primarily to such chief executive officer and/or Board of the Company following a Change of Control shall not constitute a change in her reporting requirements under this clause), (iii) a material reduction in her level of base compensation or total compensation unless such reduction is in connection and proportional to reductions to the compensation reductions to the other members of the management team and such reduction does not exceed 20% of her total cash compensation; (iv) a material breach of the Wheeler Agreement or the Confidential Information and Invention Assignment Agreement by the Company; or (v) the requirement by the Company that she transfer her place of employment to a location that is outside of the greater San Francisco Bay Area. ​ Gautam Gupta Offer Letter Agreement Our offer letter agreement with Mr. Gupta (as amended, the “Gupta Agreement”) provided for an unspecified term of employment and entitled him to an annual base salary, a one-time sign-on and retention bonus (which has been fully paid as described above in the section entitled “Compensation Discussion and Analysis — Sign-On and Retention Bonuses”), and an award of stock options. Mr."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b291"], "char_count": 3933, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e641eff1156059352ea0320936334fb0eb6564179a2b149ea3ee8681f5240644", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 291, "char_end": 15876, "char_start": 11943, "fragment_sha256": "df22881d067dade91a4ed088dedfd0c0351df1e6adc5b578e1c6e856230f9812", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p98", "passage_kind": "narrative", "passage_sequence": 98, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Gupta had the right to early exercise his option award up to an aggregate exercise price of $1,500,000 with a 51% recourse promissory note (and pledge and security agreement) from the Company, and he exercised this right with respect to 1,466,501 shares of Opendoor Labs Inc. common stock in March 2018. Mr. Gupta’s stock options will expire in 2027 on the date set forth in his option agreement. Julie Todaro Offer Letter Agreement Our offer letter agreement with Ms. Todaro (as amended, the “Todaro Agreement”) provides for an unspecified term of employment and entitles Ms. Todaro to an annual base salary, a one-time sign-on and retention bonus (which has been paid and is subject to the terms described above in the section entitled “Compensation Discussion and Analysis — Sign-On and Retention Bonuses”), an award of stock options and an award of RSUs. The Todaro Agreement provides that Ms. Todaro’s option award will vest over four years following her employment start date with 25% vesting on the first anniversary of her start date and the remainder vesting in equal 24 TABLE OF CONTENTS monthly installments thereafter, subject to her continued employment on each such vesting date. The Todaro Agreement provides that Ms. Todaro’s RSU award will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Todaro’s RSU grant agreements. The “Service-Based Condition” will be satisfied, subject to Ms. Todaro’s continued employment through each such date, as to 25% of the total RSUs on the first anniversary of the RSU award’s vesting start date, and as to 1/16th of the total RSUs on a quarterly basis thereafter. The “Liquidity Event Condition was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. In the event Ms. Todaro’s employment with us is terminated (i) by us without Cause (as defined below) or (ii) due to her resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 50% of her then outstanding but unvested stock option and RSU awards granted under the Todaro Agreement will automatically and immediately vest, subject to the timely execution and non-revocation of a general release of claims against us. The Todaro Agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Todaro Agreement, “Cause” is generally defined to mean, subject to certain notice requirements and cure rights, Ms. Todaro’s: (i) material breach of any material written agreement between her and the Company; (ii) failure to comply with the Company’s material written policies or rules as they may be in effect from time to time; (iii) neglect or persistent unsatisfactory performance of her duties; (iv) repeated failure to follow reasonable and lawful instructions from our Board; (v) conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (vi) commission of or participation in an act of fraud against the Company; (vii) intentional material damage to the Company’s business, property or reputation; or (viii) unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom he owes an obligation of nondisclosure as a result of his relationship with the Company."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b291"], "char_count": 3728, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d142e11f0d57f3e5bae0802ef7fb9f0545157481117988197a8a800b499784b", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 291, "char_end": 19604, "char_start": 15876, "fragment_sha256": "df22881d067dade91a4ed088dedfd0c0351df1e6adc5b578e1c6e856230f9812", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p99", "passage_kind": "narrative", "passage_sequence": 99, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "For purposes of the Todaro Agreement, “Good Reason” is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in her job responsibilities, duties, authority, or title (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in job responsibilities); (ii) a material reduction in her level of base compensation or total compensation unless such reduction is in connection and proportional to reductions to the compensation reductions to the other members of the management team and such reduction does not exceed 20% of her total cash compensation; or (iii) a relocation of her principal place of employment that increases her one-way commute by more than 45 miles. Tom Willerer Offer Letter Agreement Our offer letter agreement with Mr. Willerer (as amended, the “Willerer Agreement”) provides for an unspecified term of employment and entitles Mr. Willerer to an annual base salary, a one-time sign-on and retention bonus (which has been paid and is subject to the terms described above in the section entitled “Compensation Discussion and Analysis — Sign-On and Retention Bonuses”), an award of stock options and an award of RSUs. The Willerer Agreement provides that Mr. Willerer’s option award will vest over four years following his employment start date with 25% vesting on the first anniversary of his start date and the remainder vesting in equal monthly installments thereafter, subject to his continued employment on each such vesting date. The Willerer Agreement provides that Mr. Willerer’s RSU award will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Mr. Willerer’s RSU grant agreements. The “Service-Based Condition” will be satisfied, subject to continued employment through each such date, as to 25% of the total RSUs on the first anniversary of the RSU award’s vesting start date, and as to 1/16th of the total RSUs on a quarterly basis thereafter. The “Liquidity Event Condition” was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. In the event Mr. Willerer’s employment with us is terminated (i) by us without Cause (as defined for purposes of the Todaro Agreement) or (ii) due to his resignation for Good Reason (as defined below), in each case, within 12 months following a Change of Control, then 50% of all his then outstanding but unvested stock option and RSU awards, whether or not granted under the Willerer Agreement, will automatically and immediately vest, subject to the timely execution and non-revocation of a general release of claims against us. The Willerer Agreement does not provide for any cash severance entitlements or benefit continuation. For purposes of the Willerer Agreement, “Good Reason” is generally defined to mean, subject to certain notice requirements and cure rights: (i) a material reduction in his job responsibilities, duties, or authority (provided that a mere change in title to a position that is substantially similar to the prior position held shall not constitute a material reduction in your job responsibilities, duties, or 25"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b293"], "char_count": 399, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4a2bac79b9714b13e252b5eb7195a782e713aff775d74ee6b5a80e340074dfa0", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 293, "char_end": 399, "char_start": 0, "fragment_sha256": "761c398c34c507f11d0518e42f7a3726a3f23a4a8e9d6bc1601b576c27be2b18", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p100", "passage_kind": "narrative", "passage_sequence": 100, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "authority); (ii) a material reduction in his base salary unless such reduction is in connection with and proportional to reductions to the base salary of other members of the management team and such reduction does not exceed 20% of his base salary; or (iii) the requirement by the Company that he transfer his place of employment to a location that is outside of the greater San Francisco Bay Area."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b295"], "char_count": 644, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c774be0decf60d8dae58a9ac4d0e8f76570ed3dce3c0ffd011fda09ae74d0e2b", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Elizabeth Stevens Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 295, "char_end": 644, "char_start": 0, "fragment_sha256": "983ae5df985df7fda95d3f08e310edc28b9dd3e2ff01693ae7f55d7b0250392d", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Elizabeth Stevens Offer Letter Agreement"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p101", "passage_kind": "narrative", "passage_sequence": 101, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s64", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Our offer letter agreement with Ms. Stevens (as amended, the “Stevens Agreement”) provides for an unspecified term of employment and entitles Ms. Stevens to an annual base salary and an award of stock options. The Stevens Agreement provided Ms. Stevens’ with an option award that vested over four years following her employment start date with 25% vesting on the first anniversary of the vesting commencement date and the remainder vesting in equal monthly installments thereafter, subject to her continued employment on each such vesting date. The Stevens Agreement does not provide for any cash severance entitlements or benefit continuation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b297"], "char_count": 629, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "70379b0e5afb2df6f3a3e41546f520c51c69bb065640fdf9ddb6e60591fe108a", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Confidential Information and Invention Assignment Agreements"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 297, "char_end": 629, "char_start": 0, "fragment_sha256": "2a8efb6d9b8102a13b42bc80de72b18fd3d5935ab016443d69ba30bec177e267", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Confidential Information and Invention Assignment Agreements"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p102", "passage_kind": "narrative", "passage_sequence": 102, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s65", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Pursuant to their offer letter agreements, each of our named executive officers has entered into a Confidential Information and Invention Assignment Agreement which contains, among other things, restrictive covenants pursuant to which such officers agree (i) to refrain from soliciting our customers during the term of their employment and (ii) to refrain from soliciting our employees during the term of their employment and for a period of 12 months thereafter. The Company’s standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b299"], "char_count": 241, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e936fa5d7138174c08eda094633cec83fa203930ba3fb88427ef7117e919deed", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 299, "char_end": 241, "char_start": 0, "fragment_sha256": "1c02715bbfda85e25f63715d4be03ca971600fd03356ee35ac3265df55b7bf34", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p103", "passage_kind": "narrative", "passage_sequence": 103, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The figures in the table below show outstanding equity awards as of December 31, 2020. The number of shares subject to the awards, and the exercise prices for the options, have been adjusted to reflect the impact of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b300"], "char_count": 5472, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7908be1353ed5e7a4b356f0e30a431a8c774b5faac3dfe3e7ad475fe42a1c651", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": ["oversize_table_passage"], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "items": [], "locators": [{"artifact_id": 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b300", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | ​ | ​ | Option Awards | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| Name | ​ | ​ | Grant Date | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Exercisable | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Unexercisable | ​ | ​ | Option Exercise Price ($) | ​ | ​ | Option Expiration Date | ​ | ​ | Number of Shares or Units of Stock That Have Not Vested (#) | ​ | ​ | Market Value of Shares or Units of Stock That Have Not Vested ($) (1) | ​ | | | | | | | | | | | | | | | | | | | | | |\n| Eric Wu | ​ | ​ | ​ | ​ | 02/06/2020(2) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1,193,020 | ​ | ​ | ​ | ​ | ​ | 27,117,345 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/03/2020(2) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1,014,215 | ​ | ​ | ​ | ​ | ​ | 23,053,107 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 12/17/2020(3) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 14,885,774 | ​ | ​ | ​ | ​ | ​ | 338,353,643 | ​ | ​ |\n| Carrie Wheeler | ​ | ​ | ​ | ​ | 02/06/2020(4) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 50,160 | ​ | ​ | ​ | ​ | ​ | 1,140,137 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/03/2020(5) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 3,493,892 | ​ | ​ | ​ | ​ | ​ | 79,416,165 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/03/2020(6) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 485,262 | ​ | ​ | ​ | ​ | ​ | 11,030,005 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 12/17/2020(7) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 404,385 | ​ | ​ | ​ | ​ | ​ | 9,191,671 | ​ | ​ |\n| Gautam Gupta | ​ | ​ | ​ | ​ | 09/29/2017(8) | ​ | ​ | ​ | ​ | ​ | 2,069,026(9) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1.02 | ​ | ​ | ​ | ​ | ​ | 09/28/2027 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| Julie Todaro | ​ | ​ | ​ | ​ | 12/18/2019(8) | ​ | ​ | ​ | ​ | ​ | 23,307 | ​ | ​ | ​ | ​ | ​ | 69,921 | ​ | ​ | ​ | ​ | ​ | 4.30 | ​ | ​ | ​ | ​ | ​ | 12/17/2029 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 12/18/2019(8) | ​ | ​ | ​ | ​ | ​ | 253,559 | ​ | ​ | ​ | ​ | ​ | 602,473 | ​ | ​ | ​ | ​ | ​ | 4.30 | ​ | ​ | ​ | ​ | ​ | 12/17/2029 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 11/03/2019(10) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 28,847 | ​ | ​ | ​ | ​ | ​ | 655,692 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 12/18/2019(11) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1,365,143 | ​ | ​ | ​ | ​ | ​ | 31,029,700 | ​ | ​ |\n| Tom Willerer | ​ | ​ | ​ | ​ | 11/03/2019(8) | ​ | ​ | ​ | ​ | ​ | 23,307 | ​ | ​ | ​ | ​ | ​ | 69,921 | ​ | ​ | ​ | ​ | ​ | 4.30 | ​ | ​ | ​ | ​ | ​ | 11/02/2029 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 11/03/2019(8) | ​ | ​ | ​ | ​ | ​ | 192,364 | ​ | ​ | ​ | ​ | ​ | 361,423 | ​ | ​ | ​ | ​ | ​ | 4.30 | ​ | ​ | ​ | ​ | ​ | 11/02/2029 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 11/03/2019(11) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1,262,946 | ​ | ​ | ​ | ​ | ​ | 28,706,763 | ​ | ​ |\n| Elizabeth Stevens | ​ | ​ | ​ | ​ | 06/12/2017(8) | ​ | ​ | ​ | ​ | ​ | 85,678 | ​ | ​ | ​ | ​ | ​ | 10,784 | ​ | ​ | ​ | ​ | ​ | 1.02 | ​ | ​ | ​ | ​ | ​ | 06/11/2027 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/29/2017(8) | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1.02 | ​ | ​ | ​ | ​ | ​ | 09/28/2027 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 09/29/2017(8) | ​ | ​ | ​ | ​ | ​ | 113,226 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 1.02 | ​ | ​ | ​ | ​ | ​ | 09/28/2027 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 03/13/2018(8) | ​ | ​ | ​ | ​ | ​ | 60,657 | ​ | ​ | ​ | ​ | ​ | 20,219 | ​ | ​ | ​ | ​ | ​ | 1.43 | ​ | ​ | ​ | ​ | ​ | 03/12/2028 | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 03/21/2019(11) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 242,631 | ​ | ​ | ​ | ​ | ​ | 5,515,003 | ​ | ​ |\n| ​ | ​ | ​ | ​ | ​ | 11/03/2019(2) | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 242,874 | ​ | ​ | ​ | ​ | ​ | 5,520,526 | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b301", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b302", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b303", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b304"], "char_count": 149, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1dbac2ef5b444abc9805636eb52d41eb9fa1d89512599499588f6f7d7f8a3a90", "derivation_id": 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"div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p105", "passage_kind": "narrative", "passage_sequence": 105, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n(1)\n\nThe amounts in this column were determined based on the closing market price of the Company’s common stock on December 31, 2020 of $22.73.\n\n​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b306"], "char_count": 3790, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "af969598d8ef3bc80ae7850270e861e345d5f1de076bd1a7308dd39bdcd1baff", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 306, "char_end": 3790, "char_start": 0, "fragment_sha256": "0ea75fa3f61e3cdcdddd39812ded5df82dbc846f872421a708a3d64355de0c0f", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p106", "passage_kind": "narrative", "passage_sequence": 106, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS (2) The RSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable RSU grant agreements. The service-based condition will be satisfied in 16 successive equal quarterly installments following the vesting commencement date. The liquidity event condition was satisfied upon the occurrence of either of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. ​ (3) The RSUs will vest upon (i) the occurrence of a “listing event” and (ii) the satisfaction of performance-based vesting conditions. The closing of the Business Combination satisfied the listing event vesting condition. The performance-based vesting condition will be satisfied, subject to Mr. Wu’s continued employment with us through each applicable vesting date, as to 1/6th of the RSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change of Control (as defined in Mr. Wu’s employment letter agreement). These milestones are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23. ​ (4) The RSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Wheeler’s RSU grant agreements. Pursuant to the Wheeler Agreement, the service-based condition was fully satisfied as of Ms. Wheeler’s employment start date with us. The liquidity event condition was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement under the Securities Act, for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. ​ (5) The RSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The liquidity-based vesting condition is satisfied if a listing event occurs prior to the seventh anniversary of the grant date of the applicable RSUs. The closing of the Business Combination satisfied the listing event vesting condition. The time-based vesting condition is satisfied as to 25% of such RSUs on the first anniversary of the Wheeler Start Date and 75% of such RSUs would vest in substantially equal quarterly installments over a three-year period thereafter. ​ (6) The RSUs will vest only if both (i) a liquidity based vesting condition and (ii) a performance-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The liquidity-based vesting condition is satisfied if a “listing event” occurs prior to the seventh anniversary of the grant date of the applicable RSUs. The closing of the Business Combination satisfied the listing event vesting condition."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b306"], "char_count": 3892, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9aa43c32eeb3614aa9167e726f04d3aa881c8be7711b900f936ec8ee2b6944cf", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 306, "char_end": 7682, "char_start": 3790, "fragment_sha256": "0ea75fa3f61e3cdcdddd39812ded5df82dbc846f872421a708a3d64355de0c0f", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p107", "passage_kind": "narrative", "passage_sequence": 107, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The performance-based vesting condition is satisfied as to such RSUs upon the first to occur of (i) both (a) a listing event and (b) the 60-day volume weighted-average closing price of the Company’s publicly-traded class of common stock being at least $16.48 or (ii) both (a) a listing event and (b) the consummation of a Change of Control (as defined in the Ms. Wheeler’s offer letter agreement) in which the per share consideration is at least $16.48. ​ (7) The RSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The liquidity-based vesting condition is satisfied if a “listing event” occurs prior to the seventh anniversary of the grant date of the applicable RSUs. The closing of the Business Combination satisfied the listing event vesting condition. The RSUs will begin vesting on the third anniversary of the Wheeler Start Date, subject to her continued employment with us on such date, and are subject to, in addition to the liquidity-based vesting condition, a time-based vesting condition whereby such RSUs vest in substantially equal quarterly installments over a two-year period following such anniversary. ​ (8) The options will vest on the following schedule, subject to continued service through each such date: 25% of the options on the first anniversary of the options award’s vesting start date, and 1/16th of the options in 12 successive equal quarterly installments thereafter. ​ (9) These stock options were fully exercisable as of December 31, 2020 as they could be early exercised prior to becoming fully vested on July 10, 2021. If Mr. Gupta exercises stock options prior to their vesting, he will receive shares of our restricted stock. Mr. Gupta’s stock options will expire on the date set forth in his option agreement. ​ (10) The RSUs will vest only if both the Service-Based Condition and the Liquidity Event Condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Ms. Todaro’s RSU grant agreements. The RSUs are 100% vested as to the Service-Based Condition as of the date of grant and will become fully vested upon the satisfaction of the Liquidity Event Condition. The Liquidity Event Condition was satisfied in full upon the first to occur of the following on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. The RSUs were granted for consulting services rendered by Ms. Todaro prior to her becoming a full-time employee of the Company. ​ (11) The RSUs will vest only if both the Service-Based Condition and the Liquidity Event Condition (each as defined below) are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable RSU grant agreements. The “Service-Based Condition” will be satisfied on the following schedule, subject to continued service through each such date: 25% of the RSUs on the first anniversary of the RSU award’s vesting start date, and 1/16th of the RSUs in 12 successive equal quarterly installments thereafter. The “Liquidity Event Condition” was satisfied upon the occurrence of either of the following events on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act, for the sale of the Company’s common stock."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b306"], "char_count": 662, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "29bf12847b87a08f2064e60c94de75481d078e9028d196b29a45eb10e57cddcb", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 306, "char_end": 8344, "char_start": 7682, "fragment_sha256": "0ea75fa3f61e3cdcdddd39812ded5df82dbc846f872421a708a3d64355de0c0f", "heading_path": ["DEF 14A", "2020 Grants of Plan-Based Awards", "Outstanding Equity Awards at 2020 Fiscal Year End"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p108", "passage_kind": "narrative", "passage_sequence": 108, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. ​ Option Exercises and Stock Vested in 2020 None of our named executive officers exercised stock options in 2020. No stock awards held by our named executive officers became fully vested in 2020. 2020 Pension Benefits Table None of our named executive officers participated in any defined benefit pension plans in 2020. 2020 Nonqualified Deferred Compensation Table None of our named executive officers participated in any non-qualified deferred compensation plans in 2020. 27"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b309"], "char_count": 742, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "43fc6b5ad3c7a9f9a53cd0cd21ca66a18941feb08bba0c4e601469dba2ccc07f", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Potential Payments Upon Termination or Change of Control"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 309, "char_end": 742, "char_start": 0, "fragment_sha256": "98504dd75fe57aee4307e4e24682fc4751138732b3b3a51fa88db6fd5ef1cb79", "heading_path": ["DEF 14A", "Potential Payments Upon Termination or Change of Control"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p109", "passage_kind": "narrative", "passage_sequence": 109, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s67", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We maintain arrangements that provide payment of compensation to our named executive officers in the event of certain terminations of employment or a change of control of the Company. 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​ | — | ​ | ​ |\n| ​ | ​ | ​ | Change of Control(2) | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 68,934,887 | ​ | ​ | ​ | ​ | ​ | 68,934,887 | ​ | ​ |\n| ​ | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 106,562,725 | ​ | ​ | ​ | ​ | ​ | 106,562,725 | ​ | ​ |\n| Carrie Wheeler | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 19,854,041 | ​ | ​ | ​ | ​ | ​ | 19,854,041 | ​ | ​ |\n| ​ | ​ | ​ | Change of Control(2) | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 12,170,142 | ​ | ​ | ​ | ​ | ​ | 12,170,142 | ​ | ​ |\n| ​ | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change of Control(2) | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 100,777,978 | ​ | ​ | ​ | ​ | ​ | 100,777,978 | ​ | ​ |\n| Gautam Gupta(3) | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| Julie Todaro | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 8,413,117 | ​ | ​ | ​ | ​ | ​ | 8,413,117 | ​ | ​ |\n| ​ | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 6,196,111 | ​ | ​ | ​ | ​ | ​ | 15,842,696 | ​ | ​ | ​ | ​ | ​ | 22,038,807 | ​ | ​ |\n| Tom Willerer | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 8,970,863 | ​ | ​ | ​ | ​ | ​ | 8,970,863 | ​ | ​ |\n| ​ | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 3,974,835 | ​ | ​ | ​ | ​ | ​ | 14,353,381 | ​ | ​ | ​ | ​ | ​ | 18,328,216 | ​ | ​ |\n| Elizabeth Stevens | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | ​ | ​ | Change of Control | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 5,516,729 | ​ | ​ | ​ | ​ | ​ | 5,516,729 | ​ | ​ |\n| ​ | 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"2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Director Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 324, "char_end": 254, "char_start": 0, "fragment_sha256": "b83c888883101f1a4b5fa113192e6a17c4a0cc71f3721e06f9b01c42cdd8ecd7", "heading_path": ["DEF 14A", "Director Compensation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p113", "passage_kind": "narrative", "passage_sequence": 113, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Prior to the closing of the Business Combination, we did not pay cash compensation to any of our non-employee directors. However, in 2020, Opendoor Labs Inc. granted 101,114 RSUs to Jason Kilar for his service as a non-employee director from 2018 through"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b326"], "char_count": 3054, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "33f453002d1583349ac02a1cb04f66ee7af6e66392ba0ae8ec418635512c0b7f", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Director Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 326, "char_end": 3054, "char_start": 0, "fragment_sha256": "5e1e7477085d1ec0063c670a8cb993b904d7cdfd3439803c92f2a68dd01a85c7", "heading_path": ["DEF 14A", "Director Compensation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p114", "passage_kind": "narrative", "passage_sequence": 114, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS 2020, and 50,160 RSUs to Carrie Wheeler for her service as non-employee director in 2019 and 2020. These RSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and Mr. Kilar’s RSU grant agreement. The service-based condition will be satisfied in a series of four successive equal quarterly installments following the applicable vesting commencement date, subject to continued service through each such date. The liquidity event condition was satisfied if either of the following events occurred on or before the seventh anniversary of the date of grant: (i) a Change of Control (as defined in the 2014 Plan) or (ii) the effective date of a registration statement filed under the Securities Act, for the sale of the Company’s common stock. The Liquidity Event Condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for sale of its common stock. Pursuant to the Wheeler Agreement, the 50,160 RSUs granted to Ms. Wheeler in her capacity as a non-employee director became fully vested as to the service-based condition as of her employment start date with us in September 2020. Non-Employee Director Compensation Policy In connection with the closing of the Business Combination, we adopted the Opendoor Technologies Inc. Non-Employee Director Compensation Policy (the “NED Compensation Policy”), which provides non-employee directors with fixed annual cash retainer fees as well as long-term equity compensation awards for their service on the Board. Additional fixed annual cash retainer fees are paid to non-employee directors for committee membership and chairperson service. The non-employee directors initially eligible to participate in the NED Compensation Policy are Adam Bain, Cipora Herman, Jonathan Jaffe, Pueo Keffer, Jason Kilar, and Glenn Solomon. John Rice began participating in the NED Compensation Policy when he joined the Board in March 2021. Certain principal features of the compensation provided under the NED Compensation Policy are described in more detail below. The summary is qualified in its entirety by reference to the complete text of the NED Compensation Policy. Annual Cash Compensation Beginning at the first annual meeting of the Board following the closing of the Business Combination, each non-employee director will receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the first quarterly payment will be prorated for the partial quarter measured from the date of the closing of the Business Combination to the end of the quarter, and the quarterly payment for each Non-Employee Director will be prorated for any partial quarter of service by such Non-Employee Director."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b326"], "char_count": 1912, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bd28436bae906e4129a70221a99426af3923490774fbeb45968b0d0bf4cd9a08", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Director Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 326, "char_end": 4966, "char_start": 3054, "fragment_sha256": "5e1e7477085d1ec0063c670a8cb993b904d7cdfd3439803c92f2a68dd01a85c7", "heading_path": ["DEF 14A", "Director Compensation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p115", "passage_kind": "narrative", "passage_sequence": 115, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "All annual cash fees are vested upon payment. • Annual Board Service Retainer: ​ • All Eligible Directors: $50,000 ​ • Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) ​ • Annual Committee Member Service Retainer: ​ • Member of the Audit Committee: $10,000 ​ • Member of the Compensation Committee: $7,500 ​ • Member of the Nominating and Corporate Governance Committee: $5,000 ​ • Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): ​ • Chair of the Audit Committee: $20,000 ​ • Chair of the Compensation Committee: $15,000 ​ • Chair of the Nominating and Corporate Governance Committee: $10,000 ​ At the annual meeting of the Board, a non-employee director may elect to receive 100% of his or her annual cash compensation for the next fiscal year as RSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average Fair Market Value (as defined in the 2020 Plan) over the 20 trading days ending on the last trading day of the month preceding the month in which the RSU grant is made (the “Share Price”). Any such RSU grant is referred to as the “Optional RSU Grant.” Equity Compensation Unless otherwise provided by the Board, each person who, after the closing of the Business Combination, is elected or appointed for the first time to be a non-employee director will automatically, upon the date of his or her initial election or appointment, be granted an RSU for that number of shares of our common stock equal to $400,000 divided by the Share Price, rounded to the nearest whole share. Each such initial grant will vest in a series of equal annual installments on the first, second and third anniversary of the 29"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b328"], "char_count": 1723, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "73d115637d3f69882663a1ccd4da7f5547ac5276f0e2b99db702446a5b0eba7c", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Director Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 328, "char_end": 1723, "char_start": 0, "fragment_sha256": "f3df1378162fb157a9abe9c1d60d5375456818000bf145eeb1667d32761ebfdc", "heading_path": ["DEF 14A", "Director Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p116", "passage_kind": "narrative", "passage_sequence": 116, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "date of grant, provided in each case that the non-employee director continues to be a non-employee director on such vesting date. The delivery of shares subject to fully-vested RSUs may be delayed in accordance with the terms of the 2014 Plan and 2020 Plan and each director’s RSU grant agreement. Unless otherwise provided by the Board, at the close of business on the date of each annual meeting of our stockholders, each person who is then a non-employee director will automatically be granted a RSU for that number of shares of common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share. Each such annual grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that the non-employee director continues to be a non-employee director on such vesting date. Notwithstanding the foregoing, for each non-employee director in office as of immediately prior to the closing of a Change in Control (as defined in the 2020 Plan), their then-outstanding equity awards granted pursuant to the NED Compensation Policy will become fully vested immediately prior to the closing of such Change in Control. In the event any grant date set forth above for any RSU grant to be made under the NED Compensation Policy is not a trading day on the Nasdaq Stock Exchange (e.g., a weekend or holiday), then the grant date shall be the next trading day, and if there is no effective registration statement on Form S-8 covering such grant filed with the SEC on such grant date, the grant date shall be the trading day following the date there is such a filed and effective registration statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b330"], "char_count": 554, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ec95609e54555f76825a2ca4c069c397e66e8982271cdc46ae826e5e9f4518d3", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Director Compensation Table"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 330, "char_end": 554, "char_start": 0, "fragment_sha256": "d0172c491f8bd2f9e7ad38d4e7bde0bb614c061285d5736f74599cfdd3753d53", "heading_path": ["DEF 14A", "2020 Director Compensation Table"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p117", "passage_kind": "narrative", "passage_sequence": 117, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s70", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The following table contains information concerning the compensation of our non-employee directors in fiscal year 2020. Ms. Wheeler ceased being a non-employee director following the commencement of her employment as our CFO in September 2020 and her compensation is described above in the section entitled “Executive Compensation.” David Weiden, Jeff Housenbold and Jeff Crowe served on the Opendoor Labs Inc. board of directors until the closing of the Business Combination, after which they ceased serving on the Opendoor Labs Inc. board of directors."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b331"], "char_count": 1213, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "565284578b66198175c95df60e4439e5632171a0259ae26c8040e7206bfc75b4", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": 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"https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b331", "text": "| | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | Name | ​ | ​ | Fees Earned or Paid in Cash ($) | ​ | ​ | Stock Awards ($)(1) | ​ | ​ | Total ($) | ​ | | | | | | | | | |\n| ​ | Adam Bain | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jeff Crowe | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Cipora Herman | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jeff Housenbold | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jonathan Jaffe | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Pueo Keffer | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jason Kilar | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 492,595 | ​ | ​ | ​ | ​ | ​ | 492,595 | ​ | ​ |\n| ​ | Glenn Solomon | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | David Weiden | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b332", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b333", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b334", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b335"], "char_count": 437, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0d77038e472cd92ed0582315409f70e1c79b89bd0d0d8103c356e379c1082670", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": 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"sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 334, "char_end": 426, "char_start": 0, "fragment_sha256": "c0d8036705d816be885aa254ed72462dc15488e94335ef7752abea1e90fbcfa2", "heading_path": ["DEF 14A", "2020 Director Compensation Table"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 335, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "2020 Director Compensation Table"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p119", "passage_kind": "narrative", "passage_sequence": 119, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s70", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n(1)\n\nAmounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer. 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2020 (#) | ​ | | | |\n| ​ | Adam Bain | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jeff Crowe | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Cipora Herman | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jeff Housenbold | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jonathan Jaffe | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Pueo Keffer | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | Jason Kilar | ​ | ​ | ​ | ​ | 101,114 | ​ | ​ |\n| ​ | Glenn Solomon | ​ | ​ | ​ | ​ | — | ​ | ​ |\n| ​ | David Weiden | ​ | ​ | ​ | ​ | — | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b340", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b341", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b342", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b343", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b344", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b345", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b346"], 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"norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n*\n\nLess than 1% of our outstanding common stock.\n\n​\n\n(1)\n\nUnless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85281.\n\n​\n\n(2)\n\nBased solely on a Schedule 13G filed with the SEC on December 28, 2020 by SVF Excalibur (Cayman) Limited (“SVF Excalibur”), SVF Endurance (Cayman) Limited (“SVF Endurance”), SoftBank Vision Fund (AIV M1) L.P. (“AIV M1”) and SB Investment Advisers (UK) Limited (“SBIA UK”). The address for each of SVF Excalibur and SVF Endurance is c/o Walkers Corp Ltd., Cayman Corporate Centre, 27 Hospital Road George Town, Grand Cayman, KY1-9008, Cayman Islands. The address for AIV M1 is 251 Little Falls Drive, Wilmington, DE 19808. The address for SBIA UK is 69 Grosvenor Street, London W1K 3JP, United Kingdom.\n\n​\n\n(3)\n\nBased solely on a Schedule 13G filed with the SEC on February 12, 2021 by Khosla Ventures Seed B, LP (“Seed B”), Khosla Ventures Seed B (CF), LP (“Seed B (CF)”), Khosla Ventures Seed Associates B, LLC (“Seed B Associates”), Khosla Ventures IV, LP (“KV IV”), Khosla Ventures IV (CF), LP (“KV IV (CF)”), Khosla Ventures Associates IV, LLC (“KVA IV”), VK Services, LLC (“VK Services”) and Vinod Khosla (“Khosla,” together with Seed B, Seed B (CF), Seed B Associates, KV IV, KV IV (CF), KVA IV and VK Services collectively, the “Reporting Persons”). Consists of (i) 32,489 shares of common stock held by Seed B, (ii) 1,843 shares of common stock held by Seed B (CF), (ii) 43,317,254 shares of common stock held by KV IV and (iv) 2,769,348 shares of common stock held by KV IV (CF). The general partner of Seed B and Seed B (CF) is Seed B Associates. The general partner of KV IV and KV IV (CF) is KVA IV. VK Services is the sole manager of Seed B Associates and KVA IV. Khosla is the managing member of VK Services. Each of Khosla, VK Services and Seed B Associates possesses power to direct the voting and disposition of the shares owned by Seed B and Seed B (CF), and each of Seed B Associates, VK Services and Khosla may be deemed to have indirect beneficial ownership of such shares. Each of Khosla, VK Services and KVA IV possesses power to direct the voting and disposition of the shares owned"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b360", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b362"], "char_count": 3477, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "621c96453a15fd5efeabf178ca4b4e1a30f868a59b7b0424b409d533c97c7cba", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "2020 Director Compensation Table", "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 360, "char_end": 1, "char_start": 0, "fragment_sha256": "f5471cbeb8c6c04876c1e774f9cc0aa3d9b09b28521a69f713fba0f80770d016", "heading_path": ["DEF 14A", "2020 Director Compensation Table", "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 362, "char_end": 3474, "char_start": 0, "fragment_sha256": "2f11c08c47dde16edcffcd05137c962c562309234ccf82f8e6c241dd6deecc44", "heading_path": ["DEF 14A", "2020 Director Compensation Table", "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p124", "passage_kind": "narrative", "passage_sequence": 124, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\nTABLE OF CONTENTS by KV IV and KV IV (CF), and each of Khosla, VK Services and KVA IV may be deemed to have indirect beneficial ownership of such shares. The address of the Reporting Persons is 2128 Sand Hill Road, Menlo Park, California 94025. (4) Based solely on a Schedule 13D filed with the SEC on December 28, 2020, by Access Industries Management, LLC (“AIM”), AI LiquidRE LLC (“AIL”) and Len Blavatnik (collectively, the “Reporting Persons,” and each, a “Reporting Person”). The common stock is owned directly by AIL and may be deemed to be beneficially owned by AIM and Len Blavatnik because (i) AIM is the controlling entity of AIL and (ii) Len Blavatnik controls AIM and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities. ​ (5) Includes (i) 27,795,075 shares of common stock held by Eric Wu and (ii) 4,612,765 shares of common stock held by 2020 Wu Grantor Retained Annuity Trust. ​ (6) Includes (i) 4,900,848 shares of common stock owned by Ian Wong and (ii) 1,516,446 shares of common stock owned by Diana Shean Ting Chiu. ​ (7) Includes 283,069 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of April 9, 2021. ​ (8) Includes 32,941 shares of our common stock and 280,456 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of April 9, 2021. ​ (9) Includes (i) 225,000 shares of common stock held by 010118 Management, L.P., and (ii) 25,610 shares of our common stock held by Adam Bain. ​ (10) Consists of (i) 19,380,847 shares of our common stock held of record by GGV Capital V L.P. (“GGCV”), (ii) 7,330,756 shares of our common stock held of record by GGV Capital Select L.P. (‘‘GGCS’’) and (iii) 711,272 shares of our common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (“GGCVEF”). GGV Capital V L.L.C. (“GGCV LLC”) is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (“GGCS LLC”) is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC and GGCS LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares. ​ (11) Includes 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of April 9, 2021. ​ Delinquent Section 16(a) Reports Section 16(a) of the Exchange Act requires our directors, officers (as defined under Rule 16a-1(f) under the Exchange Act) and stockholders who beneficially own more than 10% of any class of our equity securities registered pursuant to Section 12 of the Exchange Act (collectively, the “Reporting Persons”) to file initial statements of beneficial ownership of securities and statements of changes in beneficial ownership of securities with respect to our equity securities with the SEC. Based solely on our review of the copies of such forms received by us and upon written representations of the Reporting Persons received by us, we believe that there has been compliance with all Section 16(a) filing requirements applicable to such Reporting Persons with respect to the fiscal year ended December 31, 2020 other than with respect to one Form 4 for Glenn Solomon reporting three transactions, which was inadvertently filed late. 32"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b366"], "char_count": 2569, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5c6082f49398586695338090ab10146e9e81833c65081c518cda1a53b318ca10", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Policies and Procedures for Approval of Related Person Transactions"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 366, "char_end": 2569, "char_start": 0, "fragment_sha256": "e9f1de557a8c0581d290675a0c6d002e290da2f299288b1892ce6158a95632c1", "heading_path": ["DEF 14A", "Policies and Procedures for Approval of Related Person Transactions"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p125", "passage_kind": "narrative", "passage_sequence": 125, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s73", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). We have a written policy on transactions with related persons that is in conformity with the requirements for issuers having publicly held common stock that is listed on Nasdaq. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company’s Head of Legal by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Head of Legal is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify, or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b369"], "char_count": 1170, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3795614f2477ffe658cccaab22e4fe0559c5dee940708a21aa0125047b2b5a37", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Warrants"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 369, "char_end": 1170, "char_start": 0, "fragment_sha256": "56ad9b6d3d8b9e18626b908aa9ae265aec1c4f518cb9d2387eb00dc94f133c87", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Warrants"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p126", "passage_kind": "narrative", "passage_sequence": 126, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s75", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "On June 12, 2018, Opendoor Labs Inc. entered into a warrant issuance agreement with Len X, LLC (formerly known as Lennar Ventures, LLC) (“Lennar”) in exchange for business and technical advisory services. Jonathan Jaffe, a member of Opendoor’s Board, is an affiliate of Lennar. Under the warrant issuance agreement, Opendoor was obligated to issue to Lennar or an affiliate certain warrants exercisable for shares of Opendoor Labs Inc.’s Series E preferred stock (such warrants, the “Lennar Series E Warrants”). Opendoor Labs Inc. issued two Lennar Series E Warrants pursuant to the warrant issuance agreement on June 30, 2019 and June 30, 2020 with respect to 121,356 and 242,713 shares of Series E preferred stock, respectively, at an exercise price of $5.92 per share. The Lennar Series E Warrants provided the holder of such warrants the right to purchase an aggregate of 364,069 shares of Opendoor Labs Inc.’s Series E preferred stock in exchange for proceeds of $2.2 million. The warrant issuance agreement was terminated prior to the closing of the Business Combination, and the Lennar Series E Warrants have been exercised in full or terminated without exercise."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b371"], "char_count": 320, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "da883a0b7d0146beac3f0f2be5476cddb7aee5354b8cfd80fd2860939cc089b2", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 371, "char_end": 320, "char_start": 0, "fragment_sha256": "32601e333c2976de976d840fa285fcbd4c43cf1a79f5081c67b11888f6a2f58c", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p127", "passage_kind": "narrative", "passage_sequence": 127, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "From February 2019 through May 2019, Opendoor Labs Inc. sold an aggregate of 9,603,637 shares of its Series E-2 preferred stock to related persons at a purchase price of approximately $8.24 per share. The following table summarizes purchases of Series E-2 preferred stock from Opendoor Labs Inc. by such related persons:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b372"], "char_count": 963, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "519d1daa1f70c167522a5bdd4ad92604cd42643ca326b1b9949eb9f322802cb5", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "items": [], "locators": [{"artifact_id": 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"https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b372", "text": "| | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ​ | Name | ​ | ​ | Shares of Series E-2 Preferred Stock | ​ | ​ | Total Purchase Price | ​ | | | | | | |\n| ​ | AI LiquidRE LLC(1) | ​ | ​ | ​ | ​ | 2,625,616 | ​ | ​ | ​ | ​ | $ | 21,635,481 | ​ | ​ |\n| ​ | Khosla Ventures IV, LP and its affiliates(2) | ​ | ​ | ​ | ​ | 60,677 | ​ | ​ | ​ | ​ | $ | 499,990 | ​ | ​ |\n| ​ | GGV Capital Select L.P.(3) | ​ | ​ | ​ | ​ | 121,356 | ​ | ​ | ​ | ​ | $ | 999,993 | ​ | ​ |\n| ​ | SVF Excalibur (Cayman) Limited(4) | ​ | ​ | ​ | ​ | 6,067,848 | ​ | ​ | ​ | ​ | $ | 49,999,994 | ​ | ​ |\n| ​ | LV Opendoor JV, LLC(5) | ​ | ​ | ​ | ​ | 485,427 | ​ | ​ | ​ | ​ | $ | 4,000,000 | ​ | ​ |\n| ​ | Norwest Venture Partners XIV, LP(6) | ​ | ​ | ​ | ​ | 242,713 | ​ | ​ | ​ | ​ | $ | 2,000,000 | ​ | ​ |\n| ​ | Total | ​ | ​ | ​ | ​ | 9,603,637 | ​ | ​ | ​ | ​ | $ | 79,135,458 | ​ | ​ |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b374"], "char_count": 3941, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "efb94ed3ade3069da87ebe4d2576e6e9ce682597b8ab8010e00a8977ce12f069", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "items": [], "locators": [{"artifact_id": 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"https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS (1) Pueo Keffer is a member of our Board and was a member of the Opendoor Labs Inc. board of directors until December 2020 and an affiliate of AI LiquidRE LLC. AI LiquidRE LLC currently holds more than 5% of our capital stock. ​ (2) David Weiden was a member of the Opendoor Labs Inc. board of directors until December 2020 and an affiliate of Khosla Ventures IV, LP. Entities affiliated with Khosla Ventures IV, LP currently hold more than 5% of our capital stock. ​ (3) Glenn Solomon is a member of our Board and was a member of the Opendoor Labs Inc. board of directors until December 2020 and an affiliate of GGV Capital Select L.P. ​ (4) Jeff Housenbold was a member of the Opendoor Labs Inc. board of directors until December 2020 and is an affiliate of SVF Excalibur (Cayman) Limited. SVF Excalibur (Cayman) Limited currently holds more than 5% of our capital stock. ​ (5) Jon Jaffe is a member of our Board and was a member of the Opendoor Labs Inc. board of directors until December 2020 and is an affiliate of LV Opendoor JV, LLC. ​ (6) Jeff Crowe was a member of the Opendoor Labs Inc. board of directors until December 2020 and is an affiliate of Norwest Venture Partners XIV, L.P. ​ Investors’ Rights Agreement Opendoor Labs Inc. was party to the Sixth Amended and Restated Investors’ Rights Agreement, dated as of February 8, 2019, which granted registration rights and information rights, among other things, to certain holders of its capital stock, including (i) entities affiliated with AI LiquidRE LLC, Khosla Ventures IV, LP, GGV Capital Select L.P. and SVF Excalibur (Cayman) Limited, each of which currently hold more than 5% of our capital stock, (ii) LV Opendoor JV, LLC, which is affiliated with our director, Jon Jaffe, and (iii) Norwest Venture Partners, L.P., which is affiliated with Jeff Crowe who was a member of Opendoor Labs Inc.’s board of directors until December 2020. Pueo Keffer and Glenn Solomon, each of whom is a member of our Board and was a director of Opendoor Labs Inc. until December 2020, are affiliated with AI LiquidRE LLC and GGV Capital Select L.P., respectively. David Weiden and Jeff Housenbold, each of whom was a director of Opendoor Labs Inc. until December 2020, are affiliated with Khosla Ventures IV, LP and SVF Excalibur (Cayman) Limited, respectively. This agreement was terminated at the closing of the Business Combination. Right of First Refusal Pursuant to the 2014 Plan and certain agreements with its stockholders, including the Sixth Amended and Restated Right of First Refusal and Co-Sale Agreement, dated as of February 8, 2019 (the “ROFR Agreement”), Opendoor Labs Inc. or its assignees had the right to purchase shares of Opendoor Labs Inc. capital stock which certain stockholders proposed to sell to other parties. Certain holders of Opendoor Labs Inc. capital stock, including (i) entities affiliated with AI LiquidRE LLC, Khosla Ventures IV, LP, GGV Capital Select L.P. and SVF Excalibur (Cayman) Limited, each of which currently hold more than 5% of our capital stock, (ii) LV Opendoor JV, LLC, which is affiliated with Jon Jaffe, who is a member of our Board and was a member of Opendoor Labs Inc.’s board of directors until December 2020, and (iii) Norwest Venture Partners, L.P., which is affiliated with Jeff Crowe, who was a member of Opendoor Labs Inc.’s board of directors until December 2020, had rights of first refusal and co-sale under the ROFR Agreement. Pueo Keffer and Glenn Solomon, each of whom is a member of our Board and was a director of Opendoor Labs Inc. until December 2020, are affiliated with AI LiquidRE LLC and GGV Capital Select L.P., respectively. David Weiden and Jeff Housenbold, each of whom was a director of Opendoor Labs Inc. until December 2020, are affiliated with Khosla Ventures IV, LP and SVF Excalibur (Cayman) Limited, respectively. These rights were terminated at the closing of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b374"], "char_count": 3827, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "076dfc93a3650ad4de8ff66669d4f59f14040e88e6c7c4180eff5795b2971c48", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 374, "char_end": 7768, "char_start": 3941, "fragment_sha256": "31a876f4e6ebaf1e10ad8b2c2de6a825fc1f43588d6284d766f47633f73368d0", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p130", "passage_kind": "narrative", "passage_sequence": 130, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Voting Agreement Opendoor Labs Inc. was a party to the Sixth Amended and Restated Voting Agreement, dated as of February 8, 2019, pursuant to which certain holders of its capital stock, including (i) entities affiliated with AI LiquidRE LLC, Khosla Ventures IV, LP, GGV Capital Select, L.P. and SVF Excalibur (Cayman) Limited, each of which currently hold more than 5% of our capital stock, (ii) LV Opendoor JV, LLC, which is affiliated with Jon Jaffe, who is a member of our Board and was a member of Opendoor Labs Inc.’s board of directors until December 2020, and (iii) Norwest Venture Partners, L.P., which is affiliated with Jeff Crowe, who was a member of Opendoor Labs Inc.’s board of directors until December 2020, had agreed to vote their shares of our capital stock on certain matters, including with respect to the election of directors. Pueo Keffer and Glenn Solomon, each of whom is a member of our Board and was a director of Opendoor Labs Inc. until December 2020, are affiliated with AI LiquidRE LLC and GGV Capital Select L.P., respectively. David Weiden and Jeff Housenbold, each of whom was a director of Opendoor Labs Inc. until December 2020, are affiliated with Khosla Ventures IV, LP and SVF Excalibur (Cayman) Limited, respectively. This agreement was terminated at the closing of the Business Combination. Director and Officer Indemnification Our Certificate of Incorporation and Bylaws provide for indemnification and advancement of expenses for our directors and officers to the fullest extent permitted by the DGCL, subject to certain limited exceptions. We have entered into indemnification agreements with each of our directors and officers. PIPE Investment In connection with the Business Combination, certain investors (the “PIPE Investors”) entered into certain subscription agreements (the “Subscription Agreements”) with SCH, pursuant to which the PIPE Investors subscribed for shares of common stock in connection 34 TABLE OF CONTENTS with a PIPE investment (the “PIPE Investment”). The PIPE Investors that participated in the PIPE Investment included (i) Eric Wu (25,000 shares), Carrie Wheeler (150,000 shares), Ian Wong (20,000 shares) and Gautam Gupta (20,000 shares), our CEO, CFO, CTO and former CFO, respectively, (ii) AI LiquidRE LLC (2,500,000 shares), which currently holds more than 5% of our capital stock and (iii) Len X, LLC (1,000,000 shares), an entity affiliated with Jon Jaffe, who was a member of Opendoor Labs Inc.’s board of directors until December 2020, when he became a member of our Board. SCH Relationships Founder Shares In January 2020, SCH Sponsor II LLC (“Sponsor”) purchased 8,625,000 of then-outstanding SCH Class B ordinary shares for an aggregate purchase price of $25,000, or approximately $0.003 per share (after a subsequent share capitalization on April 27, 2020) (the “founder shares”). In March 2020, the Sponsor transferred 100,000 founder shares to each of David Spillane and Cipora Herman (two of SCH’s independent directors at the time of such transfer) at their original per-share purchase price. On April 27, 2020, SCH effected a pro rata share capitalization resulting in an increase in the total number of founder shares outstanding from 8,625,000 to 10,350,000 in order to maintain the ownership of founder shares at 20% of the issued and outstanding ordinary shares of SCH upon consummation of its initial public offering. The Sponsor received 1,725,000 founder shares in the share capitalization as a result of our independent directors waiving their right to receive shares in the share capitalization. In connection with the Business Combination, upon the domestication of SCH as a Delaware corporation (the “Domestication”), 10,350,000 founder shares were converted automatically, on a one-for-one basis, into shares of our common stock."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b374"], "char_count": 3901, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "99ba58478375b427fa53853d1f6f45cf9b4a3a013d825275a3aa350efb4db117", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 374, "char_end": 11669, "char_start": 7768, "fragment_sha256": "31a876f4e6ebaf1e10ad8b2c2de6a825fc1f43588d6284d766f47633f73368d0", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p131", "passage_kind": "narrative", "passage_sequence": 131, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Private Placement Warrants Simultaneously with the consummation of the initial public offering of SCH, the Sponsor purchased 6,133,333 warrants to purchase one SCH Class A ordinary share at an exercise price of $11.50 (the “private placement warrants”) at a price of $1.50 per warrant, or $9.2 million in the aggregate, in a private placement. Each private placement warrant entitles the holder to purchase one SCH Class A ordinary share for $11.50 per share. In connection with the Business Combination, upon the Domestication, each of the 6,133,333 private placement warrants converted automatically into a warrant to acquire one share of our common stock. Subscription Agreements Concurrently with the execution of the Merger Agreement, we entered into the Subscription Agreements with the certain PIPE Investors affiliated with the Sponsor (the “Sponsor Related PIPE Investors”), pursuant to which the Sponsor Related PIPE Investors have subscribed for shares of our common stock in connection with the PIPE Investment. The Sponsor Related PIPE Investors have funded $160,250,000 of the PIPE Investment, for which they have received 16,025,000 shares of our common stock. Specifically, (i) ChaChaCha SPAC B, LLC, an entity affiliated with SCH Chairman and Chief Executive Officer Chamath Palihapitiya, subscribed for 10,000,000 shares of our common stock, (ii) Hedosophia Group Limited and certain of its affiliates, each of which being affiliated with SCH’s President and director Ian Osborne, subscribed for 5,800,000 shares of our common stock, and (iii) 010118 Management, L.P., an entity affiliated our director Adam Bain, subscribed for 225,000 shares of our common stock. In addition, certain of our current and former officers participated in the PIPE Investment, as described above. The PIPE Investors also include AI LiquidRE LLC (2,500,000 shares), which held more than 5% of Opendoor Labs Inc.’s pre-Business Combination capital stock and (iv) Len X, LLC (1,000,000 shares), an entity affiliated with our director, Jon Jaffe. We consummated the PIPE Investment concurrently with the closing of the Business Combination. Related Party Note and Advances The Sponsor advanced SCH an aggregate of $21,631 to cover expenses related to SCH’s initial public offering. The advances were noninterest bearing and due on demand. Advances in the aggregate amount of $21,631 were repaid in February 2020. On January 21, 2020, SCH issued an unsecured promissory note to the Sponsor, pursuant to which SCH borrowed an aggregate principal amount of $300,000. The note was non-interest bearing and payable on the earlier of (i) June 30, 2020 and (ii) the completion of SCH’s initial public offering. The borrowings outstanding under the note in the amount of $300,000 were repaid upon SCH’s consummation of its initial public offering on April 30, 2020. On September 30, 2020, SCH issued a promissory note to Sponsor, pursuant to which SCH was permitted to borrow up to an aggregate principal amount of $4,000,000. The promissory note was non-interest bearing and payable on the earlier of (i) April 30, 2022 and (ii) the completion of our initial business combination. The borrowings outstanding under the note in the amount of $1,138,497 were repaid upon consummation of the Business Combination. Prior to the Business Combination, SCH’s audit committee reviewed on a quarterly basis all payments that were made to the Sponsor, officers, directors or our or their affiliates and will determine which expenses and the amount of expenses that will be 35 TABLE OF CONTENTS reimbursed. There was no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on SCH’s behalf, although no such reimbursements were made from the proceeds of SCH’s initial public offering held in the trust account prior to the completion of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b374"], "char_count": 1086, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0977f2789409cc924cb8a822f7f6117450a51323476ed738e30b31dcadeb795e", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 374, "char_end": 12755, "char_start": 11669, "fragment_sha256": "31a876f4e6ebaf1e10ad8b2c2de6a825fc1f43588d6284d766f47633f73368d0", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "Series E-2 Preferred Stock Financing"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p132", "passage_kind": "narrative", "passage_sequence": 132, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s76", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "Administrative Services Agreement SCH entered into an agreement whereby, commencing on April 27, 2020 through the earlier of the consummation of a business combination or SCH’s liquidation, SCH paid an affiliate of the Sponsor a monthly fee of $10,000 for office space, administrative and support services. For the year ended December 31, 2020, we incurred $80,000 of such fees, which were paid at the closing of the Business Combination. This agreement was terminated at the closing of the Business Combination. Financial Advisor Fees Related to Public Offering In connection with SCH’s initial public offering, the underwriters of SCH’s initial public offering agreed to reimburse SCH for amounts paid by SCH to Connaught (UK) Limited for financial advisory services in an amount equal to 10% of the discount paid to the underwriters, of which $720,000 was paid at the closing of SCH’s initial public offering and $1,449,000 was paid at the closing of the Business Combination. Connaught (UK) Limited is an affiliate of SCH, the Sponsor and certain of SCH’s directors and officers. 36"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b377"], "char_count": 3912, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bc3cf9c430c7267bd47faa5d4e7196973ff240c0aa77d163becbed898f2e867b", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "PROPOSAL TWO — RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 377, "char_end": 3912, "char_start": 0, "fragment_sha256": "4141a1162ca52335a1ac3d8abb356c3ea2f684e54a48ecd4daf424f44dc230a0", "heading_path": ["DEF 14A", "Relationships and Transactions with Directors, Executive Officers and Significant Stockholders", "PROPOSAL TWO — RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p133", "passage_kind": "narrative", "passage_sequence": 133, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s77", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, our Board believes that it is advisable to give stockholders an opportunity to ratify this appointment. If this proposal is not approved at the Annual Meeting, our Audit Committee will reconsider its appointment of Deloitte & Touche LLP. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2020. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company. As previously disclosed in the Form 8-K filed with the SEC on December 18, 2020 (the “Form 8-K”), on December 18, 2020, the Audit Committee approved the engagement of Deloitte & Touche LLP as the Company’s independent registered public accounting firm, effective immediately. On the same date, the Audit Committee dismissed Marcum LLP (“Marcum”) as the Company’s independent registered public accounting firm. In connection with the Business Combination, SCH had engaged Marcum to audit its financial statements included in SCH’s Registration Statement on Form S-4 filed with the SEC. The report of Marcum on the financial statements of SCH as of December 31, 2019, and for the period from October 18, 2019 (inception) through December 31, 2019 did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainties, audit scope or accounting principles, except for an explanatory paragraph in such report regarding substantial doubt about the Company’s ability to continue as a going concern. During the period from October 18, 2019 (inception) to December 31, 2019 and subsequent interim period through December 18, 2020, there were no disagreements between SCH and Marcum on any matter of accounting principles or practices, financial disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Marcum, would have caused it to make reference to the subject matter of the disagreements in its reports on SCH’s financial statements for such period. During the period from October 18, 2019 (inception) to December 31, 2019 and subsequent interim period through December 18, 2020, there were no “reportable events” ​(as defined in Item 304(a)(1)(v) of Regulation S-K under the Exchange Act). During the years ended December 31, 2019 and December 31, 2018 and the subsequent interim period through December 18, 2020, we did not consult with Deloitte with respect to (i) the application of accounting principles to a specified transaction, either completed or proposed, the type of audit opinion that might be rendered on our financial statements, and neither a written report nor oral advice was provided to us that Deloitte concluded was an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any other matter that was the subject of a disagreement or a reportable event (as defined above). We provided Marcum with a copy of the foregoing disclosures and requested that Marcum furnish us with a letter addressed to the SEC stating whether it agrees with the statements made by Opendoor set forth above. A copy of Marcum’s letter, dated December 18, 2020, was filed as Exhibit 16.1 to the Form 8-K."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b383"], "char_count": 265, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5abc8b7efa80bb39a4b704cdfa0f714de426f712d5a0c062d56cc599e7ed8226", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Principal Accountant Fees and Services"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 383, "char_end": 265, "char_start": 0, "fragment_sha256": "aaaef36012cd45912b2cea1c25d844b41fcade3b72e62c4d51532e36b95c6363", "heading_path": ["DEF 14A", "Principal Accountant Fees and Services"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p134", "passage_kind": "narrative", "passage_sequence": 134, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s79", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The following table summarizes the fees of Deloitte & Touche LLP, our independent registered public accounting firm, billed to Opendoor Technologies Inc. for the fiscal year ended December 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"https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "​\n\n(1)\n\nAudit fees consist of fees for professional services rendered in connection with the annual audit of our consolidated financial statements and consultations on accounting matters directly related to the audit.\n\n​\n\n(2)\n\nAudit-related fees consist of fees for professional services rendered in connection with (1) financial statements incorporated in the SEC filings to facilitate the Business Combination and (2) agreed upon procedures related to certain compliance audits.\n\n​\n\n(3)\n\nTax fees consist of fees billed for services rendered for tax compliance, tax advice, and tax planning.\n\n​\n\n(4)\n\nAll other fees consist of fees for all other services not included in the categories set forth above.\n\n​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b399", 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"tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 401, "char_end": 1920, "char_start": 0, "fragment_sha256": "936621c2227d114bb84c0fb7cef5e18c7635ed8e56a1f56215d96e8a93d84880", "heading_path": ["DEF 14A", "Pre-Approval Policies and Procedures"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p137", "passage_kind": "narrative", "passage_sequence": 137, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Audit Committee has adopted a policy (the “Pre-Approval Policy”) that sets forth the procedures and conditions pursuant to which audit and non-audit services proposed to be performed by the independent auditor may be pre-approved. The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i) explicitly approved by the Audit Committee (“specific pre-approval”) or (ii) entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (“general pre-approval”). Unless a type of service to be provided by Deloitte & Touche LLP has received general pre-approval under the Pre-Approval Policy, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC’s rules on auditor independence.\n\nTABLE OF CONTENTS​ Report of the Audit Committee The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the “Company”) for the fiscal year ended December 31, 2020 and has discussed these financial statements with management and the Company’s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company’s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (“PCAOB”) and the Securities and Exchange Commission. The Company’s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm’s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Cipora Herman (Chair) Adam Bain Pueo Keffer​ 39"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b405", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b406"], "char_count": 1689, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e924b2105a6718f1ab0f69ffc1a13517eecf0307c5a7835a66c0e3ec85bd7755", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Background"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 405, "char_end": 1298, "char_start": 0, "fragment_sha256": "2d6b1737536f8d2327a27a58c7eb5c73cf61b05b5a937e3c23d80df3b23ac006", "heading_path": ["DEF 14A", "Background"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 406, "char_end": 389, "char_start": 0, "fragment_sha256": "b7b15d7a854e97ad59a272fca446e10d741976056a6077fdcbf23b56d597376c", "heading_path": ["DEF 14A", "Background"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p138", "passage_kind": "narrative", "passage_sequence": 138, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s82", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a “Say-on-Pay Vote”, gives our stockholders the opportunity to express their views on our named executive officers’ compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the “Executive Compensation” section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. Accordingly, we ask our stockholders to vote “FOR” the following resolution at the Annual Meeting:\n\n“RESOLVED, that the stockholders of Opendoor Technologies Inc. approve, on an advisory (non-binding) basis, the 2020 compensation of Opendoor Technologies Inc.’s named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.’s Proxy Statement for the Annual Meeting of Stockholders.”"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b413"], "char_count": 1226, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0194dbd93d1051f41057324a06f882d70cc8f63245e69fb1e125a30895d3c306", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Background"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 413, "char_end": 1226, "char_start": 0, "fragment_sha256": "d32bbf9aaecc7ec835632251240554333ec85b697f56ea9b07270eeaad8da5c9", "heading_path": ["DEF 14A", "Background"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p139", "passage_kind": "narrative", "passage_sequence": 139, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s85", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "In accordance with Section 14A(a)(2) of the Exchange Act, we are requesting your advisory, non-binding vote regarding the frequency with which stockholders should have an opportunity to provide a Say-on-Pay Vote. We are providing stockholders the option of selecting a frequency of every ONE YEAR, TWO YEARS, or THREE YEARS or abstaining. Stockholders are not voting to approve or disapprove our recommendation, as set forth below. Rather, stockholders are being asked to express their preference regarding the frequency of future Say-on-Pay Votes. We recommend that our stockholders select a frequency of every ONE YEAR. We believe that this frequency is appropriate because it will enable our stockholders to vote, on an advisory basis, on the most recent executive compensation information that is presented in our proxy statement, leading to a more meaningful and coherent communication between us and our stockholders on the compensation of our named executive officers. An annual advisory vote on executive compensation is consistent with our goal of seeking input from, and engaging in discussions with, our stockholders on corporate governance matters and our executive compensation philosophy, policies and practices."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b417"], "char_count": 3844, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "08d0a25a854cd4ddca76030d163390ec6e550b948426a67cc8cbda13937d2653", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 417, "char_end": 3844, "char_start": 0, "fragment_sha256": "7efd5d441bbfb1ef4b81b48a3128fa5b0eb199ff33ec59d70463793e82e72c6d", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p140", "passage_kind": "narrative", "passage_sequence": 140, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "TABLE OF CONTENTS​ ADDITIONAL INFORMATION Stockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2022 annual meeting of stockholders pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 31, 2021. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Elizabeth Stevens. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2022 annual meeting of stockholders, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than March 19, 2022 and not before February 17, 2022. However, if the 2022 annual meeting of stockholders is more than 30 days earlier, or more than 60 days later, than the first anniversary of the Annual Meeting, notice must be so delivered or received no earlier than the 120th day prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting and the 10th day following the date on which public disclosure of the date of such annual meeting was made. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2022 annual meeting of stockholders. Householding of Annual Meeting Materials The SEC’s rules permit us to deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as “householding” and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of those documents was delivered. If you prefer to receive separate copies of the proxy materials, contact requests@viewproxy.com or dial toll-free 877-777-2857. If you are currently a stockholder sharing an address with another stockholder and wish to receive only one copy of future proxy materials for your household, please contact Alliance Advisors at requests@viewproxy.com or dial toll-free 877-777-2857. Other Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. Solicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. In addition to the use of the mails, proxies may be solicited by telephone and email by directors, officers and other employees of Opendoor who will not be specially compensated for these services."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b417"], "char_count": 1245, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bbc641647019613181d403423417c48d9fa575b6513e4d2ea71228df0a081c9d", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 417, "char_end": 5089, "char_start": 3844, "fragment_sha256": "7efd5d441bbfb1ef4b81b48a3128fa5b0eb199ff33ec59d70463793e82e72c6d", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p141", "passage_kind": "narrative", "passage_sequence": 141, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "We will also request that brokers, nominees, custodians and other fiduciaries forward soliciting materials to the beneficial owners of shares held of record by such brokers, nominees, custodians and other fiduciaries. We will reimburse such persons for their reasonable expenses in connection therewith. We have also engaged Alliance Advisors to assist in the solicitation of proxies and provide related advice and informational support for a services fee and the reimbursement of customary disbursements that are not expected to exceed $10,000 in the aggregate. You may contact Alliance Advisors by mail at 200 Broadacres Drive, 3rd Floor, Bloomfield, NJ 07003, by phone toll-free at 844-557-9031 or by email at OPEN@allianceadvisors.com. Certain information contained in this proxy statement relating to the occupations and security holdings of our directors and officers is based upon information received from the individual directors and officers. WE WILL FURNISH, WITHOUT CHARGE, A COPY OF OUR ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020, INCLUDING CONSOLIDATED FINANCIAL STATEMENTS BUT NOT INCLUDING EXHIBITS, TO EACH OF OUR STOCKHOLDERS OF RECORD AS OF APRIL 20, 2021, AND TO EACH BENEFICIAL STOCKHOLDER AS OF THAT 42"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b419", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b420", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b421", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b422", "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b426"], "char_count": 3156, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fa4a6083d7f91b4bdcff9ba231f007d17204f236d30b335a5aa884ec156b230a", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 419, "char_end": 216, "char_start": 0, "fragment_sha256": "e0b8ba181a571881ba02982b5993fbaf35a725af63e7d3eeaac5500abc7bda9c", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 420, "char_end": 462, "char_start": 0, "fragment_sha256": "cf82f418c766b0ca03d8d10a1c2c80626ab86a16b0f697a1b24f1e269ee09a98", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 421, "char_end": 35, "char_start": 0, "fragment_sha256": "35fd8b640217dfaeae810c00605fb097d76687d20fb1c90f606e5d19b654a514", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 422, "char_end": 87, "char_start": 0, "fragment_sha256": "68343eaada9c8a28bbb5afaf48cc0f3ae6d2e0afcd50439065024dd3d3d16626", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 426, "char_end": 2348, "char_start": 0, "fragment_sha256": "3d00dee31787397199c10eba67ae9726a19b5b4af9f60eb77693d185e9fc0bf7", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p142", "passage_kind": "narrative", "passage_sequence": 142, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "DATE UPON WRITTEN REQUEST MADE TO ELIZABETH STEVENS, SECRETARY, OPENDOOR TECHNOLOGIES INC., 410 N. SCOTTSDALE ROAD, SUITE 1600, TEMPE, ARIZONA 85281. A REASONABLE FEE WILL BE CHARGED FOR COPIES OF REQUESTED EXHIBITS.\n\nWHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING ELECTRONICALLY, WE URGE YOU TO VOTE YOUR SHARES VIA THE TOLL-FREE TELEPHONE NUMBER OR OVER THE INTERNET, AS DESCRIBED IN THIS PROXY STATEMENT. IF YOU RECEIVED A COPY OF THE PROXY CARD BY MAIL, YOU MAY SIGN, DATE AND MAIL THE PROXY CARD IN THE ENCLOSED RETURN ENVELOPE. PROMPTLY VOTING YOUR SHARES WILL ENSURE THE PRESENCE OF A QUORUM AT THE ANNUAL MEETING AND WILL SAVE US THE EXPENSE OF FURTHER SOLICITATION.\n\nBy Order of the Board of Directors,\n\nEric Wu Chief Executive Officer and Chairman of the Board Tempe, Arizona April 30, 2021\n\nOpendoor Technologies Inc.Annual Meeting of Stockholders June 17, 2021 at 9:00 AM Pacific TimeThis Proxy is solicited on behalf of the Board of Directors of Opendoor Technologies Inc.The Stockholder(s) hereby appoint(s) Carrie Wheeler and Elizabeth Stevens, or either of them, as proxies, each with the power to appoint her substitute, and hereby authorize(s) them to represent and to vote, as designated on the reverse side of this ballot, all of the shares of common stock of Opendoor Technologies Inc. that the stockholder(s) is/are entitled to vote at the Annual Meeting of Stockholders to be held at 9:00 AM Pacific Time on June 17, 2021 and any adjournment, continuation or postponement thereof. The Annual Meeting of Stockholders will be held virtually. In order to attend the meeting, you must register at http://www.viewproxy.com/ opendoor/2021 by 11:59 PM Pacific Time on June 16, 2021. On the day of the Annual Meeting of Stockholders, if you have properly registered, you may enter the meeting by clicking on the link provided and the password you received via email in your registration confirmations. Further instructions on how to attend and vote at the Annual Meeting of Stockholders are contained in the Proxy Statement in the section titled “General Information About Voting and the Annual Meeting.”Such proxies are authorized to vote in their discretion (x) for the election of any person to the Board of Directors if any nominee named herein becomes unable to serve or for good cause will not serve, (y) on any matter that the Board of Directors did not know would be presented at the Annual Meeting of Stockholders by a reasonable time before the proxy solicitation was made, and (z) on such other business as may properly be brought before the meeting or any adjournment, continuation or postponement thereof.This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors’ recommendations.CONTINUED AND TO BE MARKED, DATED AND SIGNED ON THE OTHER SIDEPLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:The Notice and Proxy Statement and Annual Report are available at http://www.viewproxy.com/opendoor/2021"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#b428"], "char_count": 3765, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5017fb8fcb9bc9046597e78de4bab2f4d529cad76423335a53ed81cfc2b3d2a8", "derivation_id": "ba93e277384167f00ee0e2288245b1c5567524ad32616b657a2b475a13027b3a", "document_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2021-04-30", "filing_id": "sec:0001801169:0001104659-21-057984", "flags": [], "form": "DEF 14A", "heading_path": ["DEF 14A", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "block_sequence": 428, "char_end": 3765, "char_start": 0, "fragment_sha256": "f05d04205e5d94efab8e46716085efbebcfc5438fca3b7b81d2052a63a6b9b92", "heading_path": ["DEF 14A", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#p143", "passage_kind": "narrative", "passage_sequence": 143, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2021-06-17", "section_id": "norm:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm#s86", "source_artifact_id": "sec:0001801169:0001104659-21-057984:tm2112233-1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000110465921057984/tm2112233-1_def14a.htm", "table_id": null, "text": "The Board of Directors recommends you vote FOR each of the following nominees for director:Please mark your votes like this The Board of Directors recommends you vote FOR Proposals 2 and 3 and “ONE YEAR” for Proposal 4:1. Election of Class I directorsNominees:01 Cipora Herman02 Jonathan Jaffe03 Glenn Solomon□ FOR ALL NOMINEESWITHHOLD AUTHORITY FOR ALL NOMINEESFOR ALL EXCEPT(SEE INSTRUCTIONS2. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm□ FOR □ AGAINST □ ABSTAIN3. Approval, on an Advisory (Non-Binding) Basis, of the compensation of our named executive officers (“say-on-pay” vote)□ FOR □ AGAINST □ ABSTAINInstructions: To withhold authority to vote for any individual nominee, mark “For All Except” above and write the number(s) of the nominee(s) on the line below.4. Approval, on an Advisory (Non-Binding) Basis, of the frequency of future say-on- pay votesDO NOT PRINT IN THIS AREA(Stockholder Name & Address Data)□ 1 YEAR □ 2 YEARS □ 3 YEARS □ ABSTAINNOTE: Such other business as may properly come before the meeting and any adjournment, continuation or postponement thereof.Signature of Stockholder: Date□ Change of Address — Please print new address belowSignature of Stockholder: DateNOTE: This proxy should be marked, dated and signed by each stockholder exactly as such stockholder’s name appears hereon, and returned promptly in the enclosed envelope. When shares are held jointly, each holder should sign. When signing as an executor, administrator, attorney, trustee or guardian please give full title as such. If the signatory is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If the signatory is a partnership, please sign in the partnership name by authorized person.VIRTUAL CONTROL NUMBERPLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.As a stockholder of Opendoor Technologies Inc., you have the option of voting your shares electronically through the Internet or by tele- phone, eliminating the need to return the proxy card. Your electronic vote authorizes the named proxies to vote your shares in the same manner as if you marked, signed, dated and returned the proxy card. Votes submitted electronically over the Internet or by telephone must be received by 8:59 PM Pacific Time on June 16, 2021.As a Registered Holder, you may vote your shares at the Annual Meeting by first registering at http://www.viewproxy.com/opendoor/2021 using your Virtual Control Number below. Your registration must be received by 11:59 PM Pacific Time on June 16, 2021. On the day of the Annual Meeting of Stockholders, if you have properly registered, you may enter the meeting by clicking on the link provided and the password you received via email in your registration confirmations. Please have your Virtual Control Number with you during the meeting in order to vote. Further instructions on how to attend and vote at the Annual Meeting are contained in the Proxy Statement in the section titled “General Information About Voting and the Annual Meeting.”VIRTUAL CONTROL NUMBERPROXY VOTING INSTRUCTIONSPlease have your 11-digit Virtual Control Number ready when voting by Internet or telephone(INTERNETVote Your Shares on the Internet: Go tohttp://www.FCRvote.com/OPENHave your proxy card available when you access the above website. Follow the prompts to vote your shares.TELEPHONEVote Your Shares by Phone: Call 1 (866) 402-3905Use any touch-tone telephone to vote your shares. 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The annual meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the annual meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2022. For further information on how to participate in the meeting, please see \u201cGeneral Information About Voting and the Annual Meeting\u201d in the accompanying proxy statement. We are pleased to make our annual report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission's Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the annual meeting regardless of whether you plan to attend virtually. The accompanying proxy statement contains information about the matters on which you are being asked to vote, as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors. Thank you for your investment in Opendoor. We appreciate your support. 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To ensure that a quorum is present at the Annual Meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the Annual Meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the Annual Meeting, you will be able to vote electronically, even if you have previously submitted your proxy." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b41", + "block_sequence": 41, + "block_sha256": "5a1eccdad4577ef5d2b6d8a0b8267bedd582067ab00dd87aa80f64ef3e836c54", + "block_type": "paragraph", + "char_count": 709, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 41, + "char_end": 709, + "char_start": 0, + "fragment_sha256": "d2c5783158d97bb55335bdeecda85b89c3ccff893d64398b2f3e193a8157331e", + "heading_path": [ + "OPEN2022" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s18", + "table": null, + "text": "To Our Stockholders: NOTICE IS HEREBY GIVEN that the 2022 Annual Meeting of Stockholders of Opendoor Technologies Inc. (the \u201cAnnual Meeting\u201d) will be held on Wednesday, May 25, 2022, at 9:30 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2022 and entering your control number included in your Notice of Internet Availability of Proxy Materials, proxy card or the instructions that accompanied your proxy materials. At the Annual Meeting, stockholders will consider and vote on the following matters:" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b42", + "block_sequence": 42, + "block_sha256": "b5c7e08330b5ea44afa968625ca312ba82f1316b3cc819245e513f11c3c70c1c", + "block_type": "image", + "char_count": 436, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 42, + "char_end": 436, + "char_start": 0, + "fragment_sha256": "9e6181b47dddcbbbb9d863502938c57ae7e2c35385b4731057ce7b1e7b9ab659", + "heading_path": [ + "OPEN2022" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s18", + "table": null, + "text": "MATTER \u200b \u200b \u200b \u200b The election of Adam Bain, Pueo Keffer and John Rice as Class II Directors, each for a three-year term ending at the 2025 Annual Meeting of Stockholders \u200b \u200b The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2022 \u200b \u200b The approval, on an advisory (non-binding) basis, of the compensation of our named executive officers" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b43", + "block_sequence": 43, + "block_sha256": "b7270c628608b801610402dd4d2738d147ff9564d5045de618a90e3cbfb9bbad", + "block_type": "paragraph", + "char_count": 871, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 43, + "char_end": 871, + "char_start": 0, + "fragment_sha256": "3df9ec1f3f5ee4b88035fcdb35de65e162d991173af0e451c7e6f532eea3ac99", + "heading_path": [ + "OPEN2022" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s18", + "table": null, + "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment thereof. Stockholders of record at the close of business on Tuesday, March 29, 2022, are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of such stockholders will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the meeting by sending an email to Vanessa Gage, Secretary, at investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will be available to stockholders during the meeting at www.virtualshareholdermeeting.com/OPEN2022. 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s25", + "table": null, + "text": "Proposal 2 \u200b \u200b \u200bBoard Recommendation and Page Number Ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2022 \u200b \u200b \u200b \u200b The Board recommends a vote \u201cFOR\u201d the ratification of the appointment of Deloitte & Touche LLP as Opendoor's independent registered public accounting firm for the fiscal year ending December 31, 2022. \u200b \u200b \u200b See \u201cProposal Two - Ratification of Appointment of Independent Registered Public Accounting Firm\u201d beginning on page 46 of this proxy statement." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b83", + "block_sequence": 83, + "block_sha256": "c185ac91e3d3b2c41951be3080a4c562f54ab9e8627a19ab01febf5ef02544b4", + "block_type": "image", + "char_count": 580, + "level": null, + 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(Non-Binding) Basis, of the Compensation of Our Named Executive Officers (\u201cSay-on-Pay Vote\u201d)\u201d beginning on page 48 of this proxy statement and \u201cExecutive Compensation\u201d beginning on page 20 of this proxy statement." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b84", + "block_sequence": 84, + "block_sha256": "df2fef2fade3b5425778d3e0bafd71a2fa149da3834a44f282d24a9f3f64a040", + "block_type": "heading", + "char_count": 33, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 84, + "char_end": 33, + "char_start": 0, + "fragment_sha256": "3b363f8b269e210a3a33edd5b3e4f00098e8b9ad84f3ba96ba436d4579208033", + "heading_path": [ + "AnchorPROXY STATEMENT SUMMARY", + "Proposals", + "Directors", + "Director Highlights", + "Executive Compensation Highlights" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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market-competitive compensation program which enables us to attract, motivate and retain highly qualified executives who can achieve our business objectives. In addition, our program is heavily weighted towards equity compensation, thereby enabling us to closely align the interests of our executive officers with the interests of our stockholders. 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If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in \u201cstreet name\u201d), you should contact your bank or broker to obtain your control number or otherwise vote through the bank or broker." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b123", + "block_sequence": 123, + "block_sha256": "3d21cc165bf7a5ca08213ec7be2a934502be5b4f95c757676f11ae0cab630e14", + "block_type": "heading", + "char_count": 35, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 123, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "db612b663c1c9082749ba5c4bdcd2636200e258341ec88c6ba6e3560a007c5ea", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Attending the Annual Meeting Online" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s41", + "table": null, + "text": "Attending the Annual Meeting Online" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b124", + "block_sequence": 124, + "block_sha256": "21f26c5a16ad0d17ae2ca37a57583da74a259839adb4789f305eefa310c1b3f8", + "block_type": "paragraph", + "char_count": 1072, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 124, + "char_end": 1072, + "char_start": 0, + "fragment_sha256": "5532786da6a3ca690c24dd723747ffce4b52ffcd64c9a5bfb55583f47ed48469", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Attending the Annual Meeting Online" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s41", + "table": null, + "text": "To participate in our virtual Annual Meeting, including to vote, ask questions and view the list of registered stockholders as of the Record Date during the meeting, visit www.virtualshareholdermeeting.com/OPEN2022 with your 16-digit control number included in the Internet Notice, proxy card or the instructions that accompanied your proxy materials. If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You may be required to provide a legal proxy from your bank or broker. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting, but will not be able to vote your shares. Instructions on how to connect and participate via the Internet are posted at www.virtualshareholdermeeting.com/OPEN2022. 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Please be sure to check in by 9:00 a.m. Pacific Time on May 25, 2022, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. 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Only stockholders that have accessed the Annual Meeting as a stockholder by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things: \u2022 irrelevant to the business of the Company or to the business of the Annual Meeting; \u2022 related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; \u2022 related to any pending, threatened or ongoing litigation; \u2022 related to personal grievances; \u2022 derogatory references to individuals; \u2022 substantially repetitious of questions already made by another stockholder; \u2022 in excess of the two-question limit; \u2022 in furtherance of the stockholder's personal or business interests; or \u2022 out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the chair of the Annual Meeting or Secretary in their reasonable judgment. Additional information regarding the Q&A session will be available in the \u201cRules of Conduct\u201d posted at www.virtualshareholdermeeting.com/OPEN2022 for stockholders that have accessed the Annual Meeting as a stockholder (rather than a \u201cGuest\u201d) by following the procedures outlined above." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b134", + "block_sequence": 134, + "block_sha256": "02bde79a806dc5891770851037af802a3c78c1dab1565387a79874d1b36d6b4f", + "block_type": "heading", + "char_count": 28, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 134, + "char_end": 28, + "char_start": 0, + "fragment_sha256": "dcc81d29e0bf22bbea38f8498f000ffd24ea49d5ba6a0ec6fe68d3405e3a5ff3", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Recommendations of the Board" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s44", + "table": null, + "text": "Recommendations of the Board" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b135", + "block_sequence": 135, + "block_sha256": "cf9880d82279055fdb97d9fc0547f7196878c3b52ad71fa1b50c9a5c9e79a72f", + "block_type": "paragraph", + "char_count": 491, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 135, + "char_end": 491, + "char_start": 0, + "fragment_sha256": "25c25aedc31741d7a65065537db5572f15649e6703260e9e6ebca82ef5b314a3", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Recommendations of the Board" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s44", + "table": null, + "text": "At the Annual Meeting, our stockholders will be asked to vote on the proposals set forth below. The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or over the Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted in accordance with the Board's recommendations as follows:" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b136", + "block_sequence": 136, + "block_sha256": "6b28d028a78263e3d4635a63b9ed05740867261338ab546dba1aa293703c659e", + "block_type": "image", + "char_count": 450, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 136, + "char_end": 450, + "char_start": 0, + "fragment_sha256": "6c4babcd0b22958620b530a9fd5fafe20af342cc034ecbd6e41e114963f64798", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Recommendations of the Board" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s44", + "table": null, + "text": "\u200b \u200b \u201cFOR\u201d the election of Adam Bain, Pueo Keffer and John Rice as Class II directors; \u200b \u200b \u201cFOR\u201d the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm; \u200b \u200b \u201cFOR\u201d the approval, on an advisory (non-binding) basis, of the compensation of our named executive officers; \u200b \u200b In the discretion of the persons appointed as proxies on any other items that may properly come before the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b137", + "block_sequence": 137, + "block_sha256": "b8136bf6c986be1ea65bb26fb1d8f77c2aceb7d8fa30fadc5befd2567d4d5054", + "block_type": "heading", + "char_count": 16, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 137, + "char_end": 16, + "char_start": 0, + "fragment_sha256": "ba0270ae639bea010d2b452d08e2169159be2e49c2b1ab7ad89560370042ba7d", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Broker Non-Votes" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s45", + "table": null, + "text": "Broker Non-Votes" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b138", + "block_sequence": 138, + "block_sha256": "685a8d60230cf2ece8eb5a1ed040bfc2052c6af1e7ce03462a3f2cce89faf3b2", + "block_type": "paragraph", + "char_count": 754, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 138, + "char_end": 754, + "char_start": 0, + "fragment_sha256": "26c06f88c4cf8e2d564c49c50c4973ed76566fc07581ecff23d18bcf2f578314", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Broker Non-Votes" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s45", + "table": null, + "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. You should direct your broker how to vote the shares held in your account. Under applicable stock exchange rules, if you do not instruct your broker on how to vote your shares, your broker will be able to vote your shares with respect to certain \u201croutine\u201d matters but will not be allowed to vote your shares with respect to certain \u201cnon-routine\u201d matters. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. 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Generally, broker non-votes occur when shares held by a broker in \u201cstreet name\u201d for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b145", + "block_sequence": 145, + "block_sha256": "09c189278f8c51ac89b85f3406b972571356a24d0a0c5af48c9edaef3ec20579", + "block_type": "heading", + "char_count": 41, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 145, + "char_end": 41, + "char_start": 0, + "fragment_sha256": "df6603d4a2aa05d635e6032991cb941fd0ec216e849c41cc135f855cad3419fb", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Revoking Your Proxy or Changing Your Vote" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s46", + "table": null, + "text": "Revoking Your Proxy or Changing Your Vote" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b146", + "block_sequence": 146, + "block_sha256": "840237164d9bd78bb45b132783943ada68843e6575033445588ffe18a4c41d41", + "block_type": "paragraph", + "char_count": 1202, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 146, + "char_end": 1202, + "char_start": 0, + "fragment_sha256": "8c029804263fb8496ca4ce622c6c70f97e42f41bff92597ab8fee7a9fc9dd4ba", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Revoking Your Proxy or Changing Your Vote" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s46", + "table": null, + "text": "Voting over the Internet or by telephone or execution of a proxy will not in any way affect a stockholder's right to attend the Annual Meeting and vote electronically. A proxy may be revoked before it is used to cast a vote at the Annual Meeting. If the shares you own are held in your name, you can revoke a proxy by doing one of the following: \u2022 filing with our Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; \u2022 duly executing a later-dated proxy relating to the same shares and delivering it to our Secretary before the taking of the vote; or \u2022 attending the Annual Meeting and voting electronically. However, your attendance at the Annual Meeting will not automatically revoke your proxy unless you vote again at the Annual Meeting. Any written notice of revocation or subsequent proxy should be sent to us at the following address: Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Vanessa Gage, Secretary. If the shares you own are held in street name, you will need to follow the directions provided to you by your bank or brokerage firm to change your vote." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b147", + "block_sequence": 147, + "block_sha256": "a53e897d7442f640a8a6da68897357b914b764b795ecb58b2e2b1c64a6c57f46", + "block_type": "heading", + "char_count": 25, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 147, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "b1dfacdc84e796e021064bcd94d2910556003b2d2f33b41022bbdc9f56542431", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", + "table": null, + "text": "Quorum and Votes Required" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b148", + "block_sequence": 148, + "block_sha256": "c61284b1d89b260b24956a34e4ba50750b4c6a35aa8c47f6ee2dc56870457bb3", + "block_type": "paragraph", + "char_count": 652, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 148, + "char_end": 652, + "char_start": 0, + "fragment_sha256": "eeb428c85f76a0cf8a0ae3b446da2024be8b242d14f0728caae6bd299b5262cb", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", + "table": null, + "text": "The presence electronically or representation by proxy of a majority in voting power of the shares of common stock of the Company entitled to vote at the Annual Meeting is necessary to establish a quorum. 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The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of votes withheld, abstentions and broker non-votes." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b149", + "block_sequence": 149, + "block_sha256": "7113029ff1da02b309ae63b96e49e33e84b62e7f22e9a869389682617b968d48", + "block_type": "table", + "char_count": 966, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 149, + "char_end": 966, + "char_start": 0, + "fragment_sha256": "195f08e7aa4847ec8c153b9bcb4a3ad1fe05a422b83e58ae5478ebb775406849", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Quorum and Votes Required" + ], + "table_index": 6, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes |\n| Proposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative FOR votes will be elected as Class II Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect. |\n| Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. We do not expect any broker non-votes on this proposal. |\n| Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. |", + "n_cols": 7, + "n_rows": 4, + "plain_text": "Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes\nProposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative FOR votes will be elected as Class II Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect.\nProposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. We do not expect any broker non-votes on this proposal.\nProposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect.", + "rows": [ + [ + "Proposal", + "\u200b", + "\u200b", + "Votes Required", + "\u200b", + "\u200b", + "Effect of Votes Withheld/Abstentions and Broker Non-Votes" + ], + [ + "Proposal 1: Election of Directors", + "\u200b", + "\u200b", + "The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative FOR votes will be elected as Class II Directors.", + "\u200b", + "\u200b", + "Votes withheld and broker non-votes will have no effect." + ], + [ + "Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm", + "\u200b", + "\u200b", + "The affirmative vote of the holders of a majority in voting power of the votes cast.", + "\u200b", + "\u200b", + "Abstentions and broker non-votes will have no effect. We do not expect any broker non-votes on this proposal." + ], + [ + "Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d)", + "\u200b", + "\u200b", + "The affirmative vote of the holders of a majority in voting power of the votes cast.", + "\u200b", + "\u200b", + "Abstentions and broker non-votes will have no effect." + ] + ], + "table_index": 6, + "table_kind": "data" + }, + "text": "Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes\nProposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative FOR votes will be elected as Class II Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect.\nProposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. We do not expect any broker non-votes on this proposal.\nProposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | The affirmative vote of the holders of a majority in voting power of the votes cast. | \u200b | \u200b | Abstentions and broker non-votes will have no effect." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b150", + "block_sequence": 150, + "block_sha256": "20ad34ee7661da76eca7fc312e78a39518b1a525b889c6081ce802cfaa09b9e8", + "block_type": "paragraph", + "char_count": 324, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 150, + "char_end": 324, + "char_start": 0, + "fragment_sha256": "4aef8d850ece9112ddd0afa4f90531a5be5d302b322f7a559ac70cff8481f16e", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", + "Quorum and Votes Required" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", + "table": null, + "text": "The votes will be counted, tabulated and certified by Broadridge Financial Solutions, Inc. for the Annual Meeting. We plan to announce preliminary voting results at the Annual Meeting and we will report the final results in a Current Report on Form 8-K, which we intend to file with the SEC shortly after the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b151", + "block_sequence": 151, + "block_sha256": "def01bf14379162bfe2620fe68f53acf04fcd39c446e40ebc36dcc9937f449e5", + "block_type": "paragraph", + "char_count": 56, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 151, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "44ccba5c77d3ddee56e72fbf1db2281f5ff4062f40e284a0ffc42fdd164e36ba", + "heading_path": [ + "AND THE ANNUAL MEETING", + "Important Notice Regarding the Availability of Proxy Materials for the Annual", + "Meeting of Stockholders to Be Held on May 25, 2022:", + "This proxy statement and our 2021 Annual Report are available for viewing, printing 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DIRECTORS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s48", + "table": null, + "text": "The Board has nominated Adam Bain, Pueo Keffer and John Rice as Class II director nominees for election at the Annual Meeting. Our Board is currently comprised of eight directors. As described in our Certificate of Incorporation, our Board is currently divided into three classes. The following table describes the schedule for the election of our directors over the next three annual meetings and the terms our directors will serve if elected." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b158", + "block_sequence": 158, + "block_sha256": "628689c7c92ae1b9cc0693e5d602e4b663cd3899cd1713e5c9c8e7b95762d1ad", + "block_type": "table", + "char_count": 364, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 158, + "char_end": 364, + "char_start": 0, + "fragment_sha256": "30937df5ece28d2ed986990696edc81572bb3dd549baa8ed4bf6d061fbc07dc1", + "heading_path": [ + "AnchorPROPOSAL ONE \u2014 ELECTION OF DIRECTORS" + ], + "table_index": 7, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s48", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Meeting | \u200b | \u200b | Class of Directors Standing for Election | \u200b | \u200b | Term |\n| 2022 Annual Meeting | \u200b | \u200b | Class II | \u200b | \u200b | Three-year term expiring at 2025 Annual Meeting |\n| 2023 Annual Meeting | \u200b | \u200b | Class III | \u200b | \u200b | Three-year term expiring at 2026 Annual Meeting |\n| 2024 Annual Meeting | \u200b | \u200b | Class I | \u200b | \u200b | Three-year term expiring at 2027 Annual Meeting |", + "n_cols": 7, + "n_rows": 4, + "plain_text": "Meeting | \u200b | \u200b | Class of Directors Standing for Election | \u200b | \u200b | Term\n2022 Annual Meeting | \u200b | \u200b | Class II | \u200b | \u200b | Three-year term expiring at 2025 Annual Meeting\n2023 Annual Meeting | \u200b | \u200b | Class III | \u200b | \u200b | Three-year term expiring at 2026 Annual Meeting\n2024 Annual Meeting | \u200b | \u200b | Class I | \u200b | \u200b | Three-year term expiring at 2027 Annual Meeting", + "rows": [ + [ + "Meeting", + "\u200b", + "\u200b", + "Class of Directors Standing for Election", + "\u200b", + "\u200b", + "Term" + ], + [ + "2022 Annual Meeting", + "\u200b", + "\u200b", + "Class II", + "\u200b", + "\u200b", + "Three-year term expiring at 2025 Annual Meeting" + ], + [ + "2023 Annual Meeting", + "\u200b", + "\u200b", + "Class III", + "\u200b", + "\u200b", + "Three-year term expiring at 2026 Annual Meeting" + ], + [ + "2024 Annual Meeting", + "\u200b", + "\u200b", + "Class I", + "\u200b", + "\u200b", + "Three-year term expiring at 2027 Annual Meeting" + ] + ], + "table_index": 7, + "table_kind": "data" + }, + "text": "Meeting | \u200b | \u200b | Class of Directors Standing for Election | \u200b | \u200b | Term\n2022 Annual Meeting | \u200b | \u200b | Class II | \u200b | \u200b | Three-year term expiring at 2025 Annual Meeting\n2023 Annual Meeting | \u200b | \u200b | Class III | \u200b | \u200b | Three-year term expiring at 2026 Annual Meeting\n2024 Annual Meeting | \u200b | \u200b | Class I | \u200b | \u200b | Three-year term expiring at 2027 Annual Meeting" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b159", + "block_sequence": 159, + "block_sha256": "3d88b6cf1762b38b47c106cd7acc38af9eef50efc086d56d65c6a83ec15b011a", + "block_type": "paragraph", + "char_count": 680, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 159, + "char_end": 680, + "char_start": 0, + "fragment_sha256": "10bf85b2675c93e3bc23fb0c1eb91d380136fd5bbbb8b2244740f1ceeed2a341", + "heading_path": [ + "AnchorPROPOSAL ONE \u2014 ELECTION OF DIRECTORS" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s48", + "table": null, + "text": "If you return a duly executed proxy card without specifying how your shares are to be voted, the persons named in the proxy card will vote to elect Adam Bain, Pueo Keffer and John Rice as Class II directors. 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Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b171", + "block_sequence": 171, + "block_sha256": "ed571c014ac4b6d4e540ec10aced3ba7ea7d187e76e2fad6c0a03306d3eaeb54", + "block_type": "paragraph", + "char_count": 4243, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 171, + "char_end": 4243, + "char_start": 0, + "fragment_sha256": "29f782e00d385e7e9c236f15e4797ce2d071ab22866952b905e42f1b4cb42194", + "heading_path": [ + "DIRECTOR BIOGRAPHIES", + "Class II director nominees to be elected at the 2022 Annual Meeting (subsequent terms to expire in 2025)" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s52", + "table": null, + "text": "ADAM BAIN Director Since: 2020 Age: 48 Committee Memberships: \u2022 Audit \u2022 Compensation \u200b \u200b Adam Bain has served on our board of directors since December 2020 and previously served as a member of SCH\u2019s board of directors until December 2020. Mr. Bain is a co-managing partner of 01 Advisors, a venture capital firm targeting high-growth technology companies that are making the transition from building a product to building a company, since co-founding the firm in January 2018. Mr. Bain served as a director of IPOA from September 2017 until the consummation of its business combination with Virgin Galactic in October 2019, and continues to serve as a member of Virgin Galactic\u2019s board of directors, where he serves as chair of the nominating and corporate governance committee and a member of the compensation committee. Since November 2016, Mr. Bain has also been an independent advisor and investor in select growth-stage companies. Previously, Mr. Bain was the Chief Operating Officer of Twitter from September 2015 until November 2016, and President of Global Revenue & Partnerships from 2010 to September 2015, where he was responsible for the business lines at the public company. Mr. Bain earned his Bachelor of Arts in English Journalism from Miami University, in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve as a member of our board of directors because of his significant operating and technology experience and financial experience. \u200b PUEO KEFFER Director Since: 2020 Age: 40 Committee Memberships: \u2022 Audit \u200b \u200b Pueo Keffer has served on our board of directors since December 2020 and previously served as a member of Opendoor Labs Inc.\u2019s board of directors from October 2015 until December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, since April 2015. From 2009 to April 2015, Mr. Keffer was employed by Redpoint Ventures, most recently as a Partner. Since June 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a cloud computing platform company. He currently serves on the board of directors of a privately held company. Mr. Keffer holds a B.A. in Economics from Stanford University. Skills and Qualifications: We believe that Mr. Keffer is qualified to serve as a member of our board of directors because of his extensive experience advising technology companies as a venture capital investor and director of various companies and his financial experience. \u200b JOHN RICE Director Since: 2021 Age: 55 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b \u200b John Rice has served on our board of directors since March 2021. Mr. Rice is the founder and Chief Executive Officer of Management Leadership for Tomorrow (\u201cMLT\u201d), a national non-profit organization founded in 2001 that fights racial and economic disparities by empowering a new generation of diverse leaders. Prior to MLT, Mr. Rice was an executive with the National Basketball Association from 1996 to 2000, where he served as managing director of NBA Japan and as director of marketing for Latin America, and with the Walt Disney Company in new business development and marketing. Mr. Rice has served as a member of the board of directors of Walker & Dunlop, a publicly-traded real estate finance company, since 2010, where he also serves as chair of the nominating and corporate governance committee and as a member of the compensation committee. He is also a member of the board of directors of Alpha Partners Technology Merger Corp., a publicly traded special purpose acquisition company formed in 2021. Mr. Rice also serves on the board of directors of a privately held diversified real estate fund and is a member of the Yale University board of trustees. Mr. Rice received a B.A. from Yale University and an M.B.A. from Harvard Business School. Skills and Qualifications: We believe that Mr. Rice is qualified to serve as a member of our board of directors because of his executive leadership skills, strategic planning experience, public company experience and extensive expertise in driving talent development and fostering diversity and inclusion efforts across organizations. \u200b" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b172", + "block_sequence": 172, + "block_sha256": "ceb4ea00177b48711410182693841913ce94578b3730ea23f1fbc6d58383c7fb", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 172, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "d037d75f46a66dfe686a3ddd244f9ce3f09253763b6b9792c9d31fcef79c29f6", + "heading_path": [ + "DIRECTOR BIOGRAPHIES", + "Class II director nominees to be elected at the 2022 Annual Meeting (subsequent terms to 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Mr. Wu also served as Opendoor Labs Inc.\u2019s Chief Executive Officer and as a member of Opendoor Labs Inc.'s board of directors from April 2014 to December 2020. Prior to Opendoor Labs Inc., Mr. Wu founded and served as the Chief Executive Officer of Movity.com, a geo-data analytics company acquired by Trulia in 2011. Mr. Wu previously co-founded RentAdvisor.com, an apartment search company specializing in lead generation, which was later acquired by Apartment List. Mr. Wu holds a B.S. in Economics from University of Arizona. Skills and Qualifications: We believe that Mr. Wu is qualified to serve as a member of our board of directors due to the perspective and experience he brings as our Chief Executive Officer and as a co-founder and his extensive experience in real estate and technology and managing companies. \u200b JASON KILAR Director Since: 2020 Age: 50 Committee Memberships: \u2022 Nominating and Corporate Governance (CHAIR) \u200b \u200b Jason Kilar has served on our board of directors since December 2020 and also served as a member of Opendoor Labs Inc.\u2019s board of directors from March 2019 until December 2020. Mr. Kilar has served as the Chief Executive Officer of Warner Media, LLC, a media and entertainment company, since May 2020. Mr. Kilar previously co-founded and served as the Chief Executive Officer of Vessel Group, Inc., a video platform company. Prior to Vessel, Mr. Kilar co-founded and served as the Chief Executive Officer of Hulu, LLC, a streaming service company. Mr. Kilar previously served in a variety of senior leadership roles with Amazon.com, Inc., including as Senior Vice President, Worldwide Application Software, and Vice President and General Manager of Amazon\u2019s North American media businesses. Mr. Kilar holds a B.A. in Journalism and Business Administration from University of North Carolina at Chapel Hill and an M.B.A. from Harvard Business School. Skills and Qualifications: We believe that Mr. Kilar is qualified to serve as a member of our board of directors because of his deep expertise in operations as a Chief Executive Officer and seasoned board member, and his extensive experience with technology, high-growth, consumer and digital companies, as highlighted by his experience at Amazon, Hulu, Vessel Group and Warner Media. \u200b" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b179", + "block_sequence": 179, + "block_sha256": "970d034e9f57625ee7e1f87338c2bf74ec2483905fdebe78351fa542febd3842", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 179, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "31ac9616cb3fd0a21447a9ec3ba04cedafcb93e87bbe395284e4a81c3d581a84", + "heading_path": [ + "DIRECTOR BIOGRAPHIES", + "Class II director nominees to be elected at 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\u2022 Audit (CHAIR) \u200b \u200b Cipora Herman has served on our board of directors since December 2020 and previously served as a member of SCH\u2019s board of directors until December 2020. Since January 2021, Ms. Herman has served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028. Ms. Herman has served on the board of directors of ZipRecruiter since October 2018, where she is chair of the audit committee and a member of the compensation committee. Ms. Herman also previously served on the board of directors of Mindbody, Inc., a software-as-a-service company, from October 2016 to February 2019, and Memery, Inc., a technology startup, from April 2015 to January 2021. From February 2017 until June 2018, Ms. Herman served as Chief Financial Officer of Mori, Inc., a social e-reader platform. From October 2012 to April 2016, Ms. Herman served as the Chief Financial Officer of the National Football League\u2019s San Francisco 49ers, a professional sports team. From 2007 to 2012, Ms. Herman served as the Vice President & Treasurer of Facebook, Inc., a social media company. Ms. Herman holds an A.B. in International Relations, an M.A. in International Development Policy and an M.B.A, each received from Stanford University. Skills and Qualifications: We believe that Ms. Herman is qualified to serve as a member of our board of directors because of her financial expertise and experience as a director of publicly and privately held companies. \u200b JONATHAN JAFFE Director Since: 2020 Age: 62 Committee Memberships: \u2022 Nominating and Corporate Governance \u200b \u200b Jonathan Jaffe has served on our board of directors since December 2020 and also served as a member of Opendoor Labs Inc.\u2019s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation\u2019s largest homebuilders, since November 2020. He has served as a member of the board of directors of Lennar since 2018 (and previously served as a director from 1997 to 2004). He served as Lennar\u2019s President from April 2018 to November 2020 and as Chief Operating Officer from December 2004 to January 2019. Previously, Mr. Jaffe served as Vice President of Lennar from 1994 to April 2018, and prior to that, he served as a Regional President in Lennar\u2019s Homebuilding operations. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe holds a B.A. in Architecture from the University of Florida. Skills and Qualifications: We believe that Mr. Jaffe is qualified to serve as a member of our board of directors because of his extensive knowledge of the housing industry and his deep operating experience. \u200b GLENN SOLOMON Director Since: 2020 Age: 53 Committee Memberships: \u2022 Compensation (CHAIR) \u200b \u200b Glenn Solomon has served on our board of directors since December 2020 and has also served as a member of Opendoor Labs Inc.\u2019s board of directors from February 2015 until December 2020. Since 2006, Mr. Solomon has been a managing partner of GGV Capital, a venture capital firm. He serves as a director of a number of privately held companies and previously served as a director of Domo, Inc. from August 2017 to March 2019 and currently serves as a director of Hashicorp, Inc. Mr. Solomon holds a B.A. in Public Policy from Stanford University and an M.B.A. from Stanford University. 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], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "Board Leadership Structure The Board has determined that the best leadership structure for Opendoor is to combine the Chairperson of the Board and Chief Executive Officer positions, with Mr. Wu serving as Chairperson and Chief Executive Officer. Combining the roles of Chairperson and Chief Executive Officer provides unified leadership by Mr. Wu and allows for a single, clear focus for management to execute the Company's strategy and business plans. Our Board is composed of individuals with extensive experience in the technology industry, real estate industry and public company management. In addition, each of our standing Board committees is composed of, and chaired by, independent directors. For these reasons and because of the strong leadership of Mr. Wu, our Board has concluded that our current leadership structure is appropriate. There is no fixed requirement in our Corporate Governance Guidelines that our Chairperson and Chief Executive Officer positions be separate, or that our Chairperson be an employee or elected from among non-employee directors. We believe that it is in the best interests of the Company to maintain the flexibility to evaluate our leadership structure over time as part of Opendoor's ongoing succession planning process. Our Corporate Governance Guidelines provide that an independent \u201cLead Director\u201d may be elected from among the independent directors when the Chairperson is not an independent director. We do not have a Lead Director. Board Meetings and Attendance Board members are expected to prepare for, attend and participate in all meetings of the Board and committees on which they serve. During 2021, the Board held eight meetings and all directors attended 75% or more of the aggregate number of Board meetings and meetings of the committees on which they then served. We do not maintain a formal policy regarding director attendance at our annual meetings; however, it is expected that directors will attend. Seven Board members attended the 2021 annual meeting. Executive Sessions of Independent Directors The Board holds executive sessions of its independent directors no less than two times per year. Director Orientation and Continuing Education The Board views orientation and continuing education as vital tools for building an effective Board. We provide all new directors with orientation sessions regarding the Board and the Company's operations. The orientation consists of presentations by members of senior management on the Company's strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and the competitive landscape. In addition, the Company will pay for certain expenses for any director who wishes to attend seminars, conferences and other continuing education programs designed for directors of public companies. Process for Board Succession Planning and Selection and Nomination of Directors As provided in our Corporate Governance Guidelines, the Board, together with the Nominating and Corporate Governance Committee, is responsible for determining the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics and the ability to read and understand basic financial statements. In considering candidates for Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating and Corporate Governance Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating and Corporate Governance Committee will evaluate whether incumbent directors possess the requisite skills 14 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b205", + "block_sequence": 205, + "block_sha256": "4bc8693540a8f73e046bdc1c5d9ab1b6d955f9466f25d19510da4c44a1411bf4", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 205, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "322f31b424246e6944dffe8546e6cdfc631cc708c8df61e0982f8e7e77f91db9", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "End Page 18" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b206", + "block_sequence": 206, + "block_sha256": "5e05f00d5a381d36a863fd7e33d1f1a9a12fc292c48f10a9b94efe183c9aac19", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 206, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "eb2d67751969838675469616e29c89742dcdd29377cab66014558383745fbc6c", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "Begin Page 19" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b207", + "block_sequence": 207, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 207, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "b57000e3e3db2d4376fc408182a8018c0f5eea6c30eb5057282b90cb717f2fbe", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b208", + "block_sequence": 208, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 208, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b209", + "block_sequence": 209, + "block_sha256": "0297f948154cb7b5f97512d9f416b93a1a73ed601dfb0b10a6976a4418aeb71c", + "block_type": "paragraph", + "char_count": 4619, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 209, + "char_end": 4619, + "char_start": 0, + "fragment_sha256": "94d292db798b70aa0c1c875a0eb1720027847a8b9e9ccfced58b938d3eb814e2", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "and perspective, both individually and collectively. In addition, the Board will review those directors' overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors' independence. The Nominating and Corporate Governance Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating and Corporate Governance Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating and Corporate Governance Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating and Corporate Governance Committee reviews the backgrounds of those candidates, evaluates candidates' independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating and Corporate Governance Committee for candidates for election as a director. Consideration of Board Diversity The Company believes that a Board made up of highly qualified individuals from diverse backgrounds promotes better corporate governance and performance and effective decision-making. The Board and the Nominating and Corporate Governance Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. 38% of our directors self-identify as having diverse characteristics. Although the Board has no formal policy on diversity, it has included diversity as a factor that will be taken into consideration by the Nominating and Corporate Governance Committee and the Board when identifying director candidates and recommending or selecting nominees for election by stockholders. Stockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating and Corporate Governance Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating and Corporate Governance Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Vanessa Gage, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating and Corporate Governance Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others. Corporate Governance Documents We believe that good corporate governance is important to ensure that Opendoor is managed for the long-term benefit of our stockholders. Our Nominating and Corporate Governance Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Complete copies of our Corporate Governance Guidelines and committee charters are available on the \u201cCorporate Governance\u201d section of our website at investor.opendoor.com. Code of Conduct The Board has adopted a written code of business conduct and ethics (the \u201cCode of Conduct\u201d), which applies to all of our employees, officers and directors. Our Code of Conduct is available in the \u201cCorporate Governance\u201d section of our website at investor.opendoor.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct. Board Committees Our Board has established three standing committees \u2014 the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee \u2014 each of which operates under a charter that has been approved by our Board. Current copies of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee charters are posted on the \u201cCorporate Governance\u201d section of our website located at investor.opendoor.com. 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Committee Members: Cipora Herman (CHAIR) Adam Bain Pueo Keffer \u200b \u200b Primary Responsibilities Include: \u2022 Appointing, compensating, retaining and overseeing our independent registered public accounting firm; \u2022 Evaluating the independence of our independent registered public accounting firm; \u2022 Reviewing with our independent registered public accounting firm the scope and results of their audit; \u2022 Approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm; \u2022 Overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC; \u2022 Discussing guidelines and policies governing the process by which senior management assesses and manages our exposure to risk, our major financial risk exposures and the steps we have taken to monitor and control such risks; \u2022 Reviewing and approving or ratifying related person transactions; \u2022 Reviewing the adequacy and effectiveness of the Company's accounting and internal control policies and procedures on a regular basis, including the responsibilities, budget, compensation and staffing of the Company's internal audit function; and \u2022 Establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters and the confidential anonymous submission of concerns regarding questionable accounting, internal controls or auditing matters. Financial Expertise and Independence All members of the Audit Committee meet the independence standards of Nasdaq and the SEC, as well as the financial literacy requirements of Nasdaq. The Board has determined that Ms. Herman qualifies as an \u201caudit committee financial expert\u201d as defined by SEC rules. Report The Report of the Audit Committee is set forth beginning on page 47 of this proxy statement." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b217", + "block_sequence": 217, + "block_sha256": "833c75d8c8adf8eedeb7049ba7c661cdcc39a58a01764ecba96014c2e0775aa6", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 217, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "5f421d76690a44ef46125a41d726b2ec12c4692c8edcc1816b54e704edaf48c8", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "16 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + "text": "Nominating and Corporate Governance Committee Current Committee Members: Jason Kilar (CHAIR) Jonathan Jaffe John Rice \u200b \u200b Primary Responsibilities Include: \u2022 Assisting in identifying, recruiting and, if appropriate, interviewing candidates to fill positions on our Board and, if it deems it appropriate, establishing procedures for stockholders to follow in submitting recommendations for candidates for the Board; \u2022 Reviewing the background and qualifications of individuals being considered as director candidates; \u2022 Recommending to our Board the nominees for election to our Board at annual meetings of our stockholders; \u2022 Reviewing and making recommendations to the Board regarding committee and Board composition and size; \u2022 Overseeing an evaluation of our Board and its committees; and \u2022 Developing and recommending to our Board, and periodically reviewing, the Corporate Governance Guidelines. Independence The Nominating and Corporate Governance Committee is composed entirely of directors who are independent under the Nasdaq rules. Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain \u200b \u200b Primary Responsibilities Include: \u2022 Evaluating the performance of our Chief Executive Officer and other executive officers in light of any goals and objectives of the Company's executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation level of the Company's executive officers; \u2022 Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; \u2022 Reviewing the executive compensation plans in light of the Company's goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and \u2022 Appointing and overseeing any compensation consultants. Independence The Compensation Committee is composed entirely of directors who are independent under Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as a non-employee director under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 24 of this proxy statement for a discussion of the role of our executive officers and compensation consultant in determining executive compensation." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b223", + "block_sequence": 223, + "block_sha256": "275dfa3dd35cb6549bd4d3ad67a42a209f5dac8cb043c0351257c322c8acce96", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 223, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "2933207af8b612f3acd5ff509716bbe0bba30b59905d2e8513c63a6be1b066c2", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", + "table": null, + 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s58", + "table": null, + "text": "The Board recognizes that the achievement of our strategic and commercial objectives involves taking risks and that those risks may evolve over time. The Board has oversight responsibility for Opendoor's risk management function, which is designed to identify, assess and monitor fundamental financial and business risks across the Company's operations and consider ways to address and mitigate those risks. Consistent with this approach, one of the Board's primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company. In addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. \u2022 The Audit Committee reviews and discusses guidelines and policies governing the process by which senior management assesses and manages the Company's exposure to risk, as well as the Company's major financial risk exposures and the steps management has taken to monitor and control such exposures; \u2022 The Compensation Committee, in approving and evaluating the Company's executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company's compensation arrangements; and \u2022 The Nominating and Corporate Governance Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. Our Board does not believe that its role in the oversight of our risks affects the Board's leadership structure." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b230", + "block_sequence": 230, + "block_sha256": "c903f22e60ec27ed099f1896b2a70cd245c413b6f5ffd1d16fefd408d6516b4e", + "block_type": "heading", + "char_count": 32, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 230, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "60bd9ad39c82839155f3314c8b3585bd1bd9e6d39c8c9e19759eb504574d9492", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Communications from Stockholders" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s59", + "table": null, + "text": "Communications from Stockholders" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b231", + "block_sequence": 231, + "block_sha256": "c972d5f5eb591ba9c4579355ffe61521cc03f9a1684000e7178213f17c1794d9", + "block_type": "paragraph", + "char_count": 910, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 231, + "char_end": 910, + "char_start": 0, + "fragment_sha256": "74c41c9f7972033ad544c2bbc4b8a2c5722b1b2aca62a24e48f7b39f2eb5e7ab", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Communications from Stockholders" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s59", + "table": null, + "text": "The Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and Chairperson of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Vanessa Gage, Secretary, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b232", + "block_sequence": 232, + "block_sha256": "64ed00d9708936bb8379aa4c7c2f596e2bff308baefc34e2558b9008b573b4b8", + "block_type": "heading", + "char_count": 22, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 232, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "cee727fea84c6f8e58b6d0bc69f3d9e44dcdbd7a1b5b25d52a1bbabaeb47d90f", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", + "table": null, + "text": "Our Executive Officers" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b233", + "block_sequence": 233, + "block_sha256": "cc71893cc96494fb9b7f57079905860824f71ddd63be7a7122941863c60da026", + "block_type": "paragraph", + "char_count": 95, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 233, + "char_end": 95, + "char_start": 0, + "fragment_sha256": "e042f0b893d7b6f3353b9995a93adb358cb6006a6625dce40d443d8c0cf6ef80", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", + "table": null, + "text": "The following table sets forth the names, ages and positions of our current executive officers:" + }, + { + "block_id": 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| --- |\n| Name | \u200b | \u200b | Age | \u200b | \u200b | Position |\n| Eric Wu* | \u200b | \u200b | 39 | \u200b | \u200b | Chief Executive Officer and Chairman of the Board |\n| Carrie Wheeler | \u200b | \u200b | 50 | \u200b | \u200b | Chief Financial Officer |\n| Andrew Low Ah Kee | \u200b | \u200b | 41 | \u200b | \u200b | President |\n| Daniel Morillo | \u200b | \u200b | 48 | \u200b | \u200b | Chief Investment Officer |", + "n_cols": 7, + "n_rows": 5, + "plain_text": "Name | \u200b | \u200b | Age | \u200b | \u200b | Position\nEric Wu* | \u200b | \u200b | 39 | \u200b | \u200b | Chief Executive Officer and Chairman of the Board\nCarrie Wheeler | \u200b | \u200b | 50 | \u200b | \u200b | Chief Financial Officer\nAndrew Low Ah Kee | \u200b | \u200b | 41 | \u200b | \u200b | President\nDaniel Morillo | \u200b | \u200b | 48 | \u200b | \u200b | Chief Investment Officer", + "rows": [ + [ + "Name", + "\u200b", + "\u200b", + "Age", + "\u200b", + "\u200b", + "Position" + ], + [ + "Eric Wu*", + "\u200b", + "\u200b", + "39", + "\u200b", + "\u200b", + "Chief Executive Officer and Chairman of the Board" + ], + [ + "Carrie Wheeler", + "\u200b", + "\u200b", + "50", + "\u200b", + "\u200b", + "Chief Financial Officer" + ], + [ + "Andrew Low Ah Kee", + "\u200b", + "\u200b", + "41", + "\u200b", + "\u200b", + "President" + ], + [ + "Daniel Morillo", + "\u200b", + "\u200b", + "48", + "\u200b", + "\u200b", + "Chief Investment Officer" + ] + ], + "table_index": 11, + "table_kind": "data" + }, + "text": "Name | \u200b | \u200b | Age | \u200b | \u200b | Position\nEric Wu* | \u200b | \u200b | 39 | \u200b | \u200b | Chief Executive Officer and Chairman of the Board\nCarrie Wheeler | \u200b | \u200b | 50 | \u200b | \u200b | Chief Financial Officer\nAndrew Low Ah Kee | \u200b | \u200b | 41 | \u200b | \u200b | President\nDaniel Morillo | \u200b | \u200b | 48 | \u200b | \u200b | Chief Investment Officer" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b235", + "block_sequence": 235, + "block_sha256": "b4033832ddc891c913ba90bdac19ceb5ee3e03dbb53c22faaf371d743b287614", + "block_type": "paragraph", + "char_count": 881, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 235, + "char_end": 881, + "char_start": 0, + "fragment_sha256": "5512335a5372db55b3ffea57000e7f09b2cda5051e01076eb66287802c11c0c8", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", + "table": null, + "text": "* Mr. Wu is a member of our Board. See \u201cProposal One \u2014 Election of Directors\u201d for more information about Mr. Wu. Carrie Wheeler has served as our Chief Financial Officer since December 2020. Ms. Wheeler also served as Opendoor Labs Inc.\u2019s Chief Financial Officer since September 2020 and previously served as a member of Opendoor Labs Inc.\u2019s board of directors from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler currently serves on the board of directors and on the audit and compensation committees of APi Group Corporation. She has previously served on a number of other corporate boards, including Dollar Tree, Neiman Marcus Group, Inc. and Petco Animal Supplies, Inc. Ms. Wheeler holds a Bachelor of Commerce from Queen\u2019s University." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b236", + "block_sequence": 236, + "block_sha256": "34cde23826303c59233c207d5a85723da25e7f30c833b2b4b4ca3180e6e0b8a0", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 236, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "8fc00e3ea4b382073cff6b4a2aedc451d5d79fdb7604dd0dc56e6580b1ae9115", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", + "table": null, + "text": "18 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b237", + "block_sequence": 237, + "block_sha256": "554813f5735b0bcbde2c0dd05a1878546367a5d66e5dffd2011d7c4f9131cb3d", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 237, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "b72aa3f5334de32fccaf0e374ba2e81d0d2c7b5d2c70194f208e1c206553b255", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", + "table": null, + "text": "End Page 22" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b238", + "block_sequence": 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Mr. Low Ah Kee previously served in a range of executive positions at GoDaddy from 2014 to 2020, most recently as Chief Operating Officer. Prior to joining GoDaddy in 2014, Mr. Low Ah Kee was a Director at KKR Capstone where he worked closely with the Consumer, Technology and Media investment teams at KKR & Co. L.P. to evaluate investment opportunities and accelerate portfolio company growth. Before KKR, Mr. Low Ah Kee was a consultant with the Boston Consulting Group. Mr. Low Ah Kee holds a Bachelor of Applied Science from the University of Toronto and an MBA from Harvard Business School. Daniel Morillo has served as our Chief Investment Officer since January 2021. Prior to joining Opendoor, Mr. Morillo served as a Managing Director and Head of Quantitative Research at Citadel between September 2015 and December 2020. Mr. Morillo previously served as the Global Head of Investment Research for Incapture Investments and the co-head of BlackRock\u2019s Model and Portfolio Solutions group. Mr. Morillo holds a B.S. degree in economics from Universidad San Fran de Quito, an M.S. degree in statistics from the University of Illinois, and a Ph.D. in econometrics from the University of Illinois. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 19" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b242", + "block_sequence": 242, + "block_sha256": "8e8c44aa3641fe5f6dc1e6da27da5670fd0c73660046447fecaf8226dd4b80b0", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 242, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "cfc3edd2241acff66e53a12bb932d067c647b3101a0adef8f500b85e1c6e56c4", + "heading_path": [ + "AnchorCORPORATE GOVERNANCE", + "Corporate Governance Highlights", + "Director Independence", + "The Board's Role in Risk Oversight", + "Our Executive Officers" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", + "table": null, + "text": "End Page 23" + }, + { + "block_id": 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Discussion and Analysis provides information regarding the 2021 compensation program for the principal executive officer, the principal financial officer, the two most highly-compensated executive officers (other than our principal executive officer and principal financial officer) who were serving as our executive officers at the end of 2021 and the two individuals for whom disclosure would have been provided but for the fact that the individuals were not serving as our executive officers at the end of 2021, who we refer to collectively as our \u201cnamed executive officers.\u201d Our named executive officers for 2021 were: \u2022 Eric Wu, our Chief Executive Officer (our \u201cCEO\u201d); \u2022 Carrie Wheeler, our Chief Financial Officer (our \u201cCFO\u201d); \u2022 Andrew Low Ah Kee, our President; \u2022 Daniel Morillo, our Chief Investment Officer; \u2022 Ian Wong, our Chief Technology Officer; and \u2022 Elizabeth Stevens, our former Head of Legal. Due to a modification to the Company's management structure, Mr. Wong ceased serving as an executive officer of the Company on May 6, 2021. In addition, on July 27, 2021, Ms. Stevens notified us of her resignation as our Head of Legal, effective September 1, 2021." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b249", + "block_sequence": 249, + "block_sha256": "53d548aa01fc3eb72da15a5be7f235e25c0b45b3de8e518aaad1917d964a6853", + "block_type": "heading", + "char_count": 17, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 249, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "5418e0a8f04663f36d3943812af92eeb93837fdf8f74fb309cb5e0e339e9c290", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Summary" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s63", + "table": null, + "text": "Executive Summary" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b250", + "block_sequence": 250, + "block_sha256": "7bb04bf37b9b5e35da3dce3d47ffc56ee0a576fbf11eb96ea9060fd9ffaca54a", + "block_type": "paragraph", + "char_count": 525, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 250, + "char_end": 525, + "char_start": 0, + "fragment_sha256": "6124e95e80eeaeb70f4af9c424509f1bdc62b2b0223ea6dacc2873399ba3514c", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Summary" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s63", + "table": null, + "text": "This Compensation Discussion and Analysis describes the material elements of our executive compensation program during 2021. It also provides an overview of our executive compensation philosophy, including our principal compensation policies and practices. 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For 2021, we awarded sign-on and retention bonuses to Messrs. Low Ah Kee and Morillo in the amounts described below under \u201cCompensation Elements\u2014Sign-On and Retention Bonuses.\u201d \u2022 Long-Term Incentive Compensation \u2013 In line with our philosophy that our compensation program should be heavily weighted toward equity compensation, in 2021 we granted time-based restricted stock units (\u201cTRSUs\u201d) to Mr. Wu and Ms. Stevens and TRSUs and performance-based restricted stock units (\u201cPRSUs\u201d) to Mr. Low Ah Kee. 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The annual compensation of our executive officers, including our named executive officers, has varied due to the Business Combination in December 2020. 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Our executive compensation program emphasizes \u201cvariable\u201d pay over \u201cfixed\u201d pay. We do not determine either \u201cvariable\u201d or \u201cfixed\u201d pay with reference to a specific percentage of target total direct compensation. Going forward, we intend to maintain this emphasis on \u201cvariable\u201d over \u201cfixed\u201d pay as we believe this approach provides appropriate incentives for our executive officers to drive our financial performance and create long-term growth." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b261", + "block_sequence": 261, + "block_sha256": "17df188e01a704e2ff272ab2ceddaa87936dbf3405119d1562e60d6804db390b", + "block_type": "heading", + "char_count": 45, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 261, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "a92449841335e2ed0df014a9a2c20d1c575134d15236018420a464c59d68f8eb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", + "table": null, + "text": "Executive Compensation Policies and Practices" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b262", + "block_sequence": 262, + "block_sha256": "6df42755161fa9792426c5007263695f2ad619f102439bf971444bcbe5448ffa", + "block_type": "paragraph", + "char_count": 466, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 262, + "char_end": 466, + "char_start": 0, + "fragment_sha256": "12c76fc72dd2a008382b6da52ec17918640ca4a9f47c14b8299f4356dbdaddba", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", + "table": null, + "text": "We endeavor to maintain sound governance standards consistent with our executive compensation policies and practices. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. The following summarizes our executive compensation and related policies and practices:" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b263", + "block_sequence": 263, + "block_sha256": "06b90e046cd6c112b29af2c952cfaf4f799785db9277ec41f112d46f6fbdac57", + "block_type": "table", + "char_count": 3961, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 263, + "char_end": 3961, + "char_start": 0, + "fragment_sha256": "154a23ec98bc191393c822d182fdd3afd5007ff2ec73610c477d329f87a25b6f", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Compensation Policies and Practices" + ], + "table_index": 12, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.4, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| What We Do: | \u200b | \u200b | What We Don\u2019t Do: |\n| \u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. Th\u2026 | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to \u2026 |", + "n_cols": 4, + "n_rows": 2, + "plain_text": "What We Do: | \u200b | \u200b | What We Don\u2019t Do:\n\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2021. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success (as measured through our stock price and/or total stockholder return), thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post-employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We intend to review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 Limited Tax Reimbursements. We provide limited tax reimbursement payments (including \u201cgross-ups\u201d) on perquisites or other personal benefits, which in 2021 were limited to gross-ups for a COVID-19 relief payment available to all employees and HSR filing fees for Messrs. Wu and Wong. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross-ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Head of Legal. \u2022 No \u201csingle trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company. \u2022 No Stock Option Re-pricing. Our equity incentive and compensation plans do not permit options to be repriced to a lower exercise or strike price without the approval of our stockholders.", + "rows": [ + [ + "What We Do:", + "\u200b", + "\u200b", + "What We Don\u2019t Do:" + ], + [ + "\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2021. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success (as measured through our stock price and/or total stockholder return), thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post-employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We intend to review the risks associated with our key executive officer positions to ensure adequate succession plans are in development.", + "\u200b", + "\u200b", + "\u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 Limited Tax Reimbursements. We provide limited tax reimbursement payments (including \u201cgross-ups\u201d) on perquisites or other personal benefits, which in 2021 were limited to gross-ups for a COVID-19 relief payment available to all employees and HSR filing fees for Messrs. Wu and Wong. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross-ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Head of Legal. \u2022 No \u201csingle trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company. \u2022 No Stock Option Re-pricing. Our equity incentive and compensation plans do not permit options to be repriced to a lower exercise or strike price without the approval of our stockholders." + ] + ], + "table_index": 12, + "table_kind": "mixed" + }, + "text": "What We Do: | \u200b | \u200b | What We Don\u2019t Do:\n\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2021. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success (as measured through our stock price and/or total stockholder return), thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post-employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We intend to review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 Limited Tax Reimbursements. We provide limited tax reimbursement payments (including \u201cgross-ups\u201d) on perquisites or other personal benefits, which in 2021 were limited to gross-ups for a COVID-19 relief payment available to all employees and HSR filing fees for Messrs. Wu and Wong. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross-ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Head of Legal. \u2022 No \u201csingle trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company. \u2022 No Stock Option Re-pricing. Our equity incentive and compensation plans do not permit options to be repriced to a lower exercise or strike price without the approval of our stockholders." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b264", + "block_sequence": 264, + "block_sha256": "ad39e59dbc4af8f8209c39d893430e979a71651b8db90a5f826ea475d8889bb7", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 264, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "69b84f227215dbd6fef7e35bc77892b469643331011ce47a740ecea0ed26b1cc", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", + "table": null, + "text": "Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 21" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b265", + "block_sequence": 265, + "block_sha256": "4adabb8799664d3f8ca1833d9087ee067ba775abd09963d8ee799e3f7aa61012", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 265, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "fea860acc0a73d101c23e7edbbc89c4a868c20ac69e60c1b99d043d4982f9efe", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", + "table": null, + "text": "End Page 25" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b266", + 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"char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b269", + "block_sequence": 269, + "block_sha256": "f93cae57222b2f47ca44dbbf28735ecff3aa000a16c66ce5dff8c90f103daa8a", + "block_type": "heading", + "char_count": 66, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 269, + "char_end": 66, + "char_start": 0, + "fragment_sha256": "1fd6a01b73add8d8ed7a521b35258868340ed5ee574ab4368669470585dca4ab", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Stockholder Advisory Votes on Named Executive Officer Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s67", + "table": null, + "text": "Stockholder Advisory Votes on Named Executive Officer Compensation" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b270", + "block_sequence": 270, + "block_sha256": "7b24efe0be9d93d7b3d62cc2d3ee5261b29e38232c9f7538c62ebb669d2f8b0f", + "block_type": "paragraph", + "char_count": 2294, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 270, + "char_end": 2294, + "char_start": 0, + "fragment_sha256": "d258cce5f305eb75a3bea4f3de4daab4c0ccc782ccea7459feaa8b95743ed0b9", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Stockholder Advisory Votes on Named Executive Officer Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s67", + "table": null, + "text": "At our 2021 Annual Meeting of Stockholders, we conducted our initial non-binding stockholder advisory vote on the compensation of our named executive officers (commonly known as a \u201cSay-on-Pay\u201d vote). Approximately 99.8% of the votes represented and entitled to vote on the matter (excluding broker non-votes and abstentions) were cast for the approval of our named executive officer compensation for 2020. The Compensation Committee considers the result of the Say-on-Pay vote in determining the compensation of our named executive officers. Based on the strong level of support for our executive compensation philosophy, program, and practices demonstrated by the result of this Say-on-Pay vote, among other factors, our Board and the Compensation Committee determined to continue the implementation of our compensation philosophy, further emphasizing our commitment to link pay to performance and aligning the interests of our named executive officers with those of our stockholders. The Compensation Committee determined not to implement significant changes to our executive compensation program for 2021. We value the opinions of our stockholders. Our goal is to be responsive to our stockholders and ensure that we understand and address their opinions and concerns. Our Board and the Compensation Committee will consider the outcome of this year\u2019s Say-on-Pay vote (see Proposal Three in this proxy statement) as well as future advisory votes on the compensation of our named executive officers, and feedback received throughout the year, when making compensation decisions for our executive officers, including our named executive officers. At our 2021 Annual Meeting of Stockholders, we also conducted a non-binding stockholder advisory vote on the frequency of future Say-on-Pay votes (commonly known as a \u201cSay-When-on-Pay\u201d vote). Our stockholders expressed a preference for holding future Say-on-Pay votes on an annual, rather than a biennial or triennial, basis. In recognition of this preference and other factors considered, our Board determined that, until the next Say-When-on-Pay vote, we will hold annual Say-on-Pay votes. Accordingly, following the meeting to which this proxy statement relates, our next Say-on-Pay vote will be held at our 2023 Annual Meeting of Stockholders." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b271", + "block_sequence": 271, + "block_sha256": "5273624ae29ddf6141ff73f7335b83e7a9ddac0cd0e038db2a2b0a841b780e86", + "block_type": "heading", + "char_count": 38, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 271, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "cb4ebda64d429a197b64cddd902243a1949af7901d0f03f69001904e940dff21", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "Compensation Philosophy and Objectives" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b272", + "block_sequence": 272, + "block_sha256": "25e3c67c9dc27455e8d90dea0a02a82d0c9803b97d2fd7256100f758a5883a22", + "block_type": "paragraph", + "char_count": 1413, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 272, + "char_end": 1413, + "char_start": 0, + "fragment_sha256": "5c688a0d40b60cb12d8c50ed6b35324399bd45868c00fe13d66b1b7fc06d2b6d", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "We are a company with a \u201cpay for performance\u201d compensation philosophy. Accordingly, our compensation programs are designed to attract, retain and motivate our employees, including our executive officers, by ensuring that such programs are aligned to the market, scalable and flexible for our leaders to operate within and simple and clear for our employees to understand. We typically implement this philosophy by emphasizing equity, rather than cash, compensation. With respect to our executive compensation program, our key objectives are to: \u2022 allow us to attract and retain highly qualified executive officers; and \u2022 provide our executive officers with the opportunity to be owners in the Company. We believe that our ability to keep our senior executive team engaged and productive is tied to our executive compensation program. In addition, for us to be appropriately positioned to attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation. Providing our executive officers and other employees with an opportunity to be owners in our business fosters their active engagement in our success and aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided our executive officers, including our named executive officers, with a compensation package consisting of the following elements:" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b273", + "block_sequence": 273, + "block_sha256": "ca3028415db0058239494686b808bd95cf44ebd3173a966fcd7857214a04b938", + "block_type": "table", + "char_count": 713, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 273, + "char_end": 713, + "char_start": 0, + "fragment_sha256": "02d0ca14317f13dc67f27c8512db7866d156fae563524a5e4506d334f9534cef", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": 13, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b279", + "block_sequence": 279, + "block_sha256": "6242dfdd110aa0c8f5e3faa1a47910f206456d31575699a58f53bbbe55b9bfc8", + "block_type": "paragraph", + "char_count": 4145, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 279, + "char_end": 4145, + "char_start": 0, + "fragment_sha256": "5cf5097ea96ba5809494c3620336a8bd441d1db5f800f5fad3fcb19277319beb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "In addition, from time to time, we may provide cash sign-on and retention bonus arrangements as part of an employment offer. The amount of compensation awarded in these circumstances is established based on the proposed executive officer\u2019s role and responsibilities, long-term potential and our expectations as to the individual\u2019s performance and/or Company performance. Compensation-Setting Process Role of the Board of Directors Prior to the completion of the Business Combination in December 2020, our executive compensation program was administered by the board of directors of Opendoor Labs Inc. (\"Opendoor Labs\") based on recommendations from its compensation committee. The compensation of our executive officers, including our named executive officers, was reviewed by the compensation committee of Opendoor Labs, including a discussion of the compensation and performance of each executive officer with our CEO as well as our CEO\u2019s recommendations for their compensation. These recommendations were based upon a review of the performance of each executive officer, our overall performance and an assessment of each executive officer's contributions to that performance, internal pay equity considerations and the competitiveness of the market for each executive officer's services. The compensation committee then generally evaluated any recommended compensation adjustments or awards to our executive officers, including our named executive officers, and made recommendations to the board of directors of Opendoor Labs, which ultimately determined the compensation of each executive officer. Role of the Compensation Committee The Compensation Committee discharges the responsibilities of our Board relating to the compensation of our executive officers, including our named executive officers, and the non-employee members of our Board. Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers. In carrying out its responsibilities, the Compensation Committee evaluates our compensation policies and practices with a focus on the degree to which these policies and practices reflect our executive compensation philosophy, develops strategies and makes decisions that it believes further our philosophy or align with developments in best compensation practices, and reviews the performance of our executive officers when making decisions with respect to their compensation or recommendations to our Board with respect to their compensation. The Compensation Committee has retained a compensation consultant (as described below) to provide support in its review and assessment of our executive compensation program; however, the Compensation Committee exercises its own judgment in making final decisions or recommendations with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee reviews our executive compensation program annually. As part of this review process, the Compensation Committee applies the objectives described above within the context of our overall compensation philosophy while simultaneously considering the compensation levels needed to ensure that our executive compensation program remains competitive based on input and market data provided by the Compensation Committee\u2019s compensation consultant. The Compensation Committee also evaluates whether we are meeting our retention objectives and the potential cost of replacing key named executive officers. Setting Target Total Direct Compensation The Compensation Committee conducts an annual review of the compensation arrangements of our executive officers, including our named executive officers. As part of this review, the Compensation Committee evaluates the base salary levels, any sign-on and retention bonuses, and the long-term incentive compensation opportunities of our executive officers and all related performance criteria. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 23" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b280", + "block_sequence": 280, + "block_sha256": "efe502c370eb028c98e1135dd529a14f0a50851b6da945b035bf1c44c52c87c2", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 280, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "6bdb1a614d789242025ca88011ae02fcc00c04d23d8c505a78e7218e1ceeb781", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "End Page 27" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b281", + "block_sequence": 281, + "block_sha256": "57d4783c9ed2feecbc82c479b9ae79f6637079d210b60bb3560e812ddcffc014", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 281, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "38b5b6e59139fa46826f1050ede4f01d7688b652284413addbba8684f2435f06", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "Begin Page 28" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b282", + "block_sequence": 282, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 282, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "e58303401ec801ed88be8d6833d5836e6b512ac62a089c296f7cede4d38f45bd", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b283", + "block_sequence": 283, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 283, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b284", + "block_sequence": 284, + "block_sha256": "2628d94baac7a563c0e464620debd4e70fd533326a40a8bfd3f8bb0453ba4642", + "block_type": "paragraph", + "char_count": 2975, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 284, + "char_end": 2975, + "char_start": 0, + "fragment_sha256": "b80c0b347669c6c4d05c714440c9f47bab04225de6e8d645f9dea2d6148c9173", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", + "table": null, + "text": "The Compensation Committee does not intend to establish a specific target for formulating the target total direct compensation opportunities of our executive officers. Instead, it evaluates both performance and compensation to ensure that the compensation provided to our executive officers is competitive relative to the compensation paid by similar companies in the technology and internet retail sectors, with particular emphasis on our peer companies as described below. In making decisions about the compensation of our executive officers, the members of the Compensation Committee rely primarily on considerations of various factors, including the following: \u2022 our executive compensation program objectives; \u2022 our performance against the financial, operational and strategic objectives established by the Compensation Committee and our Board; \u2022 each executive officer\u2019s knowledge, skills, experience, qualifications and tenure relative to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; \u2022 the scope of each executive officer\u2019s role and responsibilities compared to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; \u2022 the prior performance of each executive officer, based on a subjective assessment of his or her contributions to our overall performance, and ability to lead his or her business unit and work as part of a team; \u2022 the potential of each executive officer to contribute to our long-term financial, operational and strategic objectives; \u2022 our CEO\u2019s compensation relative to that of our other executive officers, particularly our other named executive officers, and compensation parity among our executive officers; \u2022 our financial performance relative to our peers; \u2022 the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer\u2019s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and \u2022 the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to his own compensation). These factors provide the framework for compensation decision-making and final decisions by the Compensation Committee or its recommendations to our Board for final decisions regarding the compensation opportunity for each executive officer. The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b285", + "block_sequence": 285, + "block_sha256": "bf89af39c5fb75b44e3e561bdf0bba2cdb9b6ae5ca64282f9b482f12ceb5bac3", + "block_type": "heading", + "char_count": 24, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 285, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "62c76d5a59b301e0015e4b53a69628d16c357ab29817a3f3dd980d86157b443d", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "AnchorRole of Management" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s69", + "table": null, + "text": "AnchorRole of Management" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b286", + "block_sequence": 286, + "block_sha256": "e88bb467b8bef272419e7c798b5bdbab5892ffd98d8552bd6cd83c3c2f583ac0", + "block_type": "paragraph", + "char_count": 756, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 286, + "char_end": 756, + "char_start": 0, + "fragment_sha256": "5940dc1fd9314e9e1153a2efb0503699a24b53b485debb1d9e5fb8f56910bf66", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "AnchorRole of Management" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s69", + "table": null, + "text": "In discharging its responsibilities, the Compensation Committee works with members of our management, including our CEO. Our management assists the Compensation Committee by providing information on corporate and individual performance, market compensation data and management\u2019s perspective on compensation matters. The Compensation Committee solicits and reviews our CEO\u2019s proposals with respect to program structures, as well as his recommendations for adjustments to annual base salaries, long-term incentive compensation opportunities and other compensation-related matters for our executive officers, including our named executive officers (except with respect to his own compensation), based on his evaluation of their performance for the prior year." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b287", + "block_sequence": 287, + "block_sha256": "09645860dd149b77cbe73721da90523c2fd673db78ae1b4f1973cc887a1f7e22", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 287, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "d2cdbc2f9f9e48bf3a41a9cd109e96eed8ba57826327e58bc35978fb8615a631", + "heading_path": [ + "AnchorEXECUTIVE 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"char_end": 491, + "char_start": 0, + "fragment_sha256": "df4989a7dbebf5b170fd8d6ca6a0e7e71d014c29c1f16cdf0ac369b54477c565", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "AnchorRole of Management" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s69", + "table": null, + "text": "The Compensation Committee reviews and discusses proposals and recommendations with our CEO and considers them as one factor in determining and approving the compensation of our executive officers or making recommendations to our Board with respect to the compensation of our executive officers. Our CEO also attends meetings of our Board and the Compensation Committee at which executive compensation matters are addressed, except with respect to discussions involving his own compensation." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b293", + "block_sequence": 293, + "block_sha256": "06ca2f69a742b0505430139cb767e79797f0fefdb4f269aed7411682d53c9523", + "block_type": "heading", + "char_count": 35, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 293, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "b034b52a2b61884d7b9aa0fa280bfd72267e459fb6820954d4868cb7695010b3", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Role of the Compensation Consultant" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s70", + "table": null, + "text": "Role of the Compensation Consultant" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b294", + "block_sequence": 294, + "block_sha256": "c2544b15fd06260fc07bc5c6a6aaa5142d77b4dc22223b9cb760e1dd6a8b3194", + "block_type": "paragraph", + "char_count": 3298, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 294, + "char_end": 3298, + "char_start": 0, + "fragment_sha256": "105056c05d8ded6417cb1178bd817b3e1ab73f7b3a97d7eeda98855f6b45a9a1", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Role of the Compensation Consultant" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s70", + "table": null, + "text": "The Compensation Committee has the authority to retain an external compensation consultant to assist it by providing information, analysis and other advice relating to our executive compensation program and the decisions resulting from its annual executive compensation review, including the authority to approve the consultant\u2019s reasonable fees and other retention terms. The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. We first engaged Compensia, Inc. (\u201cCompensia\u201d), a national compensation consulting firm, in May 2018, although the Compensation Committee did not engage Compensia to provide executive and director compensation consulting services on a regular basis until 2019. In 2020 and 2021, the Compensation Committee again engaged Compensia to serve as its compensation consultant to advise on executive compensation matters, including competitive market pay practices for our executive officers, and with the data analysis and selection of the compensation peer group. In addition to the work Compensia performed in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or the Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us or the Compensation Committee. During 2021, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: \u2022 the review, analysis and updating of our compensation peer group; \u2022 the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; \u2022 a competitive market assessment for executive-level management; \u2022 an analysis of peer company equity utilization; \u2022 consultation with the Compensation Committee chair and other members between Compensation Committee meetings; and \u2022 support on other ad hoc matters throughout the year. The terms of Compensia\u2019s engagement include reporting directly to the Compensation Committee chair. Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2021, Compensia did not provide any other consulting or other services to us. The Compensation Committee has evaluated its relationship with Compensia to ensure that it believes that such firm is independent from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2021. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b295", + "block_sequence": 295, + "block_sha256": "01f1f976f9f6cce06fde6feeaf3490b863f2348864d242c3a57bcb378d76ed82", + "block_type": "heading", + "char_count": 23, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 295, + "char_end": 23, + "char_start": 0, + "fragment_sha256": "2169223ada9cc7f66379c09c32d51c33fdd03491a7a7b9bdbd358cb7ec276e0f", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Competitive Positioning" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b296", + "block_sequence": 296, + "block_sha256": "6eaa459ac6b7c920d690e5c23f8607025fced63b6a397f706a4167f84044fefd", + "block_type": "paragraph", + "char_count": 592, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 296, + "char_end": 592, + "char_start": 0, + "fragment_sha256": "c9deb17ee4a83d61019d52cc4fdca26b02b90fff6ed553277f5e75396cd0fedd", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. Going forward, for purposes of assessing our executive compensation against the competitive market, the Compensation Committee intends to review and consider the compensation levels and practices of a select group of peer companies. This compensation peer group will consist of companies that are similar to us in terms of industry, market" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b297", + "block_sequence": 297, + "block_sha256": "d33fdd9f3e20cf6484633e1eec50ec34c989014e883e587730820e7d5ccd0922", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 297, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "15459cbe4382a9194f875a9c1c37e6bfbe7abc21be208356ed6b3c90f5ffd465", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 25" + }, + { + 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"Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "capitalization and stage of development. The competitive data drawn from this compensation peer group will be one of several factors that the Compensation Committee considers in making its decisions with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee intends to use data drawn from the companies in a compensation peer group, as well as data drawn from broad-based executive compensation surveys, with an emphasis on publicly-traded San Francisco Bay Area software/software product companies with revenues in a range of approximately 0.2x to 2.0x our revenues over the trailing four fiscal quarters to evaluate the competitive market when determining the total direct compensation packages for our executive officers, including our named executive officers. The Compensation Committee intends to review our compensation peer group at least annually and make adjustments to its composition if warranted, taking into account changes in both our business and the businesses of the companies in the peer group. Compensation Elements Our executive compensation program consists of two principal elements \u2013 base salary and long-term incentive compensation in the form of equity awards. It also includes participation in our broad-based health and welfare benefit programs. In addition, certain of our named executive officers also received sign-on or retention bonus payments for 2021. Base Salaries We provide a base salary as a fixed source of compensation for our executive officers, including our named executive officers, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock and which, prior to the Business Combination, did not provide any opportunity for the executive officers to achieve liquidity. The Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. Our current practice is to not provide our executive officers with annual base salaries exceeding $350,000. The initial base salaries of our executive officers were established at the time they entered into an employment offer letter or confirmatory employment offer letter with us and took into account their qualifications, experience, comparable market data and prior base salary level. Prior to the completion of the Business Combination, the compensation committee of Opendoor Labs reviewed, and adjusted as necessary, the base salaries for each executive officer at least annually. Following the completion of the Business Combination, the Compensation Committee reviewed the base salaries of our executive officers, including our named executive officers, and determined to maintain their annual base salaries for 2021 at their 2020 levels, except for Ms. Stevens, whose annual base salary was increased to $350,000 to reflect the competitive base salaries of executives holding comparable positions at the companies in our compensation peer group. Going forward, the Compensation Committee intends to review the annual base salaries of our executive officers, including our named executive officers, as part of its annual review of the compensation arrangements of our executive officers. The Compensation Committee will take into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to his own annual base salary) and the factors set forth in \u201cCompensation-Setting Process \u2013 Setting Target Total Direct Compensation\u201d above. Long-Term Equity Compensation We believe that providing long-term incentives in the form of equity awards encourages our executive officers, including our named executive officers, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our executive officers, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Board and the Compensation Committee believe that equity awards align our executive officers\u2019 interests and contributions with the long-term interests of our stockholders. In addition, our Board and the Compensation Committee believe that offering meaningful equity ownership in the Company is helpful in retaining our executive officers, including our named executive officers, and other key employees. 26 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b303", + "block_sequence": 303, + "block_sha256": "342ef2fbc6cabfeb30c96d6f4e0890ed1a2a95f5cc2c78ec17dcf6a5f93c4ff1", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 303, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "91fbbd8a8f5873af6422a12d73494fd17f405277c267bf16a08df39f86b073a2", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "End Page 30" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b304", + "block_sequence": 304, + "block_sha256": "b09b9d4ed99d34631a0a82d1d95ca40d54928ef68336721cfdd08c6ef703ab6d", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 304, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "13bbd3720c077598f74e995a98b99ca0c3ce3808b487ac4e7451c514c5116d44", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Begin Page 31" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b305", + "block_sequence": 305, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 305, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "a10c30a734d09cc1c4cac2d6f5672a95b43b27771164b2aa0d6c344555083519", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b306", + "block_sequence": 306, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 306, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b307", + "block_sequence": 307, + "block_sha256": "345b693367d2da480ddc736458f06ca6ae2bf4a02b4c51e49aae49df7c8b2481", + "block_type": "paragraph", + "char_count": 5850, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 307, + "char_end": 5850, + "char_start": 0, + "fragment_sha256": "ff432d896a2e97c3899872c38fe3198b8313737f686a87da539fdcff1b38b838", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Our named executive officers have been granted TRSU awards, PRSU awards, or a mix of TRSU awards and PRSU awards. Each unit granted pursuant to a TRSU or PRSU award represents a contingent right to receive one share of our common stock for each unit that vests. The size and precise terms of the awards were determined by the compensation committee or the board of directors of Opendoor Labs at the time of hire of, or execution of the confirmatory employment offer letter by, the individual named executive officer. In determining the amount of such awards, each individual's anticipated role, qualifications and experience, and the results of a competitive market data analysis, were considered. For descriptions of equity awards granted to our named executive officers in 2020 and 2021, see \u201cExecutive Compensation Tables,\u201d below. Following the completion of the Business Combination, the Compensation Committee assumed responsibility for reviewing and granting equity awards to our executive officers, including our named executive officers, and granted the equity awards discussed below to Messrs. Wu and Low Ah Kee and Ms. Stevens. These awards were granted in March 2021 following the filing of a Form S-8 registration statement permitting the Company to make equity awards under the Opendoor Technologies Inc. 2020 Incentive Award Plan (the \u201c2020 Plan\u201d). In making its determinations, the Compensation Committee considered the equity awards specified in the employment offer letter or confirmatory employment offer letter of the respective named executive officers, a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to his own equity award), the economic position of the Company, broader economic conditions, our historical compensation structure, the potential dilutive effect of the awards on our stockholders and the other factors set forth in \u201cCompensation-Setting Process \u2013 Setting Target Total Direct Compensation\u201d above. Equity Awards for Mr. Wu In late 2019, the board of directors of Opendoor Labs conducted an evaluation of Mr. Wu\u2019s compensation structure. The evaluation was driven by the fact that, at the time, all of Mr. Wu\u2019s existing equity had vested. In addition, other than his founder shares acquired in 2013 and 2014, Mr. Wu had not been awarded any equity since Opendoor Labs was first incorporated in 2013. The Opendoor Labs board of directors desired to structure a compensation package that would (i) support Mr. Wu's enduring engagement and commitment, (ii) motivate him to create significant long-term stockholder value, (iii) recognize the unique market opportunity and extensive time horizon that Opendoor Labs would need to achieve its ultimate vision, and (iv) be fair and aligned with the market, recognizing that there existed a broad set of company peers. At the time the Opendoor Labs board of directors was considering Mr. Wu\u2019s compensation package, the Business Combination was not yet contemplated. In order to achieve these objectives, the Opendoor Labs board of directors engaged Compensia in late 2019 to assess its founder CEO pay levels and provide input on a potential performance-based equity strategy. Based on the advice of Compensia and other factors, the Opendoor Labs board of directors entered into an employment letter agreement with Mr. Wu on January 6, 2020, which was amended and restated throughout the year in 2020 to account for intervening events, including the pending Business Combination. Ultimately, under the terms of an amended and restated employment agreement, dated September 14, 2020 (the \u201cWu Agreement\u201d), Mr. Wu received awards of (i) 1,364,561 TRSUs, and (ii) 9,202,707 PRSUs in 2020. The number of TRSUs and PRSUs was adjusted to 2,207,236 and 14,885,774, respectively, to reflect the Business Combination exchange ratio. The 2,207,236 TRSUs vest only if both a service-based condition and a liquidity event condition are satisfied. The liquidity event condition was satisfied in February 2021 upon the effective date of the Company\u2019s registration statement filed under the Securities Act for the sale of our common stock. The service-based condition will be satisfied in 16 successive equal quarterly installments following November 1, 2019. The TRSU award is subject to vesting acceleration as described under \u201cExecutive Compensation Tables \u2014 Potential Payments Upon Termination or Change in Control.\u201d The vesting of the 14,885,774 PRSUs is discussed below. Around the same time that the Opendoor Labs board of directors approved the Wu Agreement, they also approved the merger agreement for the Business Combination, which was signed on September 15, 2020. As disclosed in the Company\u2019s Form S-4 registration statement for the Business Combination declared effective on November 27, 2020, the Company entered into a non-binding letter of intent for the Business Combination on August 7, 2020. This letter of intent provided for equity awards to Mr. Wu representing 1% of the outstanding capital stock of Opendoor Labs at closing of the Business Combination on an as-converted basis, or 5,438,506 TRSUs. Although the Form S-4 disclosed the intention to make the grant within 90 days following the closing of the Business Combination, the grant was not made until after the Company\u2019s Form S-8 was filed on March 8, 2021 covering the 2020 Plan. On March 30, 2021, the Compensation Committee granted to Mr. Wu the 5,438,506 TRSUs originally contemplated in August of 2020. In making the grant, the Compensation Committee reviewed the factors considered by the Opendoor Labs board of directors, including peer group information, advice provided by Compensia, market rates for employee and consultant compensation, the economic position of the Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 27" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b308", + "block_sequence": 308, + "block_sha256": "3be1fe6e2af4bac643dc02c24cd7f2b21dc52205ebb7395f1d5992be25c3ac9d", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 308, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "326c03b54b0a1893fa5d11f0ef428ac431868205dd969ce662ddcb232cca70c4", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "End Page 31" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b309", + "block_sequence": 309, + "block_sha256": "ca2ce1b7beed391e03793e9408d29439805dd5c5a6d8e3468208f69b4aa239c6", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 309, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "fc2ad899337394e47f4ee5f5bc9908b14c3bbecc11374cbce93da07f2c0ff12b", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Begin Page 32" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b310", + "block_sequence": 310, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 310, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "e9c8fe583b45cd36e572733951494cebc8ed332f22ce3713f9a6844b47bca0aa", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b311", + "block_sequence": 311, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 311, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b312", + "block_sequence": 312, + "block_sha256": "4aeb8a7317bc1368246b03ebcce5d6aefea2541cc43bbfb0c579358326eae2ed", + "block_type": "paragraph", + "char_count": 3576, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 312, + "char_end": 3576, + "char_start": 0, + "fragment_sha256": "58a03a62ffae211d637b160f5f539346f31237c38c4445fd36ca9ad44cffd535", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Company, broader economic conditions, the Company\u2019s historical employee and consultant compensation structure, and the potential dilutive effect of equity awards on the Company\u2019s stockholders. The Compensation Committee also sought to bring into balance Mr. Wu's service-based and performance-based equity awards, while still ensuring that the majority of his equity awards, as well as his target total direct compensation, was performance-based. With this final portion of the compensation package awarded, the portion of Mr. Wu\u2019s outstanding equity awards that were wholly performance-based as of the date of the 5,438,506 TRSU grant was 68%. The 5,438,506 TRSUs are subject to a four-year vesting schedule with 1/16th of the units subject to the award vesting in successive equal quarterly installments following January 15, 2021, subject to Mr. Wu\u2019s continuous service with us through each such vesting date. The TRSU award is subject to vesting acceleration as described under \u201cExecutive Compensation Tables \u2014 Potential Payments Upon Termination or Change in Control.\u201d The performance-based vesting conditions of the 14,885,774 PRSUs are, subject to Mr. Wu\u2019s continued performance of services to us through each applicable vesting date, satisfied as to 1/6th of the PRSUs, or 2,480,963 shares, upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted average closing price (\u201cVWAP\u201d) of our common stock or, if earlier, based on the per share consideration received in connection with a Change of Control (as defined in the Wu Agreement). In the event of a Change of Control structured as a stock-for-stock acquisition, the value of the acquiror\u2019s shares will be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to consummation of such Change of Control. The PRSU award is not otherwise entitled to accelerated vesting in connection with a Change of Control. These price milestones, adjusted for the exchange ratio in the Business Combination, are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23, respectively. In the event of certain involuntary terminations of employment by Mr. Wu prior to the time that the performance-based vesting criteria of the PRSU award have been satisfied, the PRSU award will remain outstanding and vest as to performance when the applicable share price milestones are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such share price milestones are not satisfied by the end of such 60-day period, the PRSU award will expire. Although Mr. Wu has earned the first tranche of the PRSU award at the price milestone of $18.11, he will not earn the second tranche of the award until the 60-day VWAP of our common stock equals or exceeds $23.54 (with additional tranches tied to even higher 60-day VWAPs of $30.60, $39.78, $51.71 and $67.23, respectively). For illustrative purposes, the table below sets forth the value to all Opendoor stockholders assuming each higher price milestone is achieved, based on the market capitalization of the Company using the closing price of our common stock of $9.85 on March 29, 2022, the Annual Meeting Record Date, and 623,394,756 shares, the number of Opendoor shares outstanding on the Record Date. As shown in the table below, if Mr. Wu achieves all six price milestones under his PRSU award, this would imply a market capitalization of more than $41.9 billion, which is approximately a 590% increase to our market capitalization on March 29, 2022." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b313", + "block_sequence": 313, + "block_sha256": "c396b7569e45ac116c6e50ff612c1cfbec1251e0abff6dd625a1a8e18e65772b", + "block_type": "table", + "char_count": 619, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 313, + "char_end": 619, + "char_start": 0, + "fragment_sha256": "52a2f060cc88b8ecfbae48e0b627352d8650c47122fa3d98ae686a73a1a4c2ab", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": 14, + "tag_name": "table" + }, + "section_id": 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\u200b | \u200b | 32.2 billion | \u200b | \u200b | 430 % |\n| Milestone 6 | \u200b | \u200b | 67.23 | \u200b | \u200b | 41.9 billion | \u200b | \u200b | \u200b590% |", + "n_cols": 10, + "n_rows": 7, + "plain_text": "Price Milestone | \u200b | \u200b | \"OPEN\" 60-day VWAP ($) | \u200b | \u200b | \"OPEN\" Market Capitalization based on Record Date Shares Outstanding ($) | \u200b | \u200b | Approximate Percentage Increase in Market Capitalization at Milestone (%)\nMilestone 1 | \u200b | \u200b | $ 18.11 | \u200b | \u200b | $ Achieved | \u200b | \u200b | Achieved\nMilestone 2 | \u200b | \u200b | 23.54 | \u200b | \u200b | 14.7 billion | \u200b | \u200b | 140 %\nMilestone 3 | \u200b | \u200b | 30.60 | \u200b | \u200b | 19.1 billion | \u200b | \u200b | 210%\nMilestone 4 | \u200b | \u200b | 39.78 | \u200b | \u200b | 24.8 billion | \u200b | \u200b | 310 %\nMilestone 5 | \u200b | \u200b | 51.71 | \u200b | \u200b | 32.2 billion | \u200b | \u200b | 430 %\nMilestone 6 | \u200b | \u200b | 67.23 | 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highly incentivized over an extended period of time to capitalize on our unique market opportunity to grow the Company and generate stockholder value, while at the same time ensuring his enduring engagement and commitment to the Company." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b315", + "block_sequence": 315, + "block_sha256": "25b8a4284ade82551eca4fcd61723877f77c02ebd9c288dc7b561b49cac817ae", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 315, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "e4da1d4d0774c77aefb9e7b805b329f4cbc1304b00cecd491f29c4e2064bbbb1", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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"d5befb1730822054df37c3c522f2dd99bcc6c2d1ae20eeee402914bc9ef11697", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Equity Awards for Mr. Low Ah Kee Pursuant to the offer letter agreement with Mr. Low Ah Kee executed in October 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination (the \u201cLow Ah Kee Agreement\u201d), the Compensation Committee granted Mr. Low Ah Kee the following equity awards on March 9, 2021:" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b321", + "block_sequence": 321, + "block_sha256": "828725d95b3298823ea3be90199f973737ddc13014ed1b3f6b03f03a115785ad", + "block_type": "table", + "char_count": 180, + "level": 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Number of Shares\nTime-based restricted stock unit (\"TRSU\") award | \u200b | \u200b | 4,642,348\nPerformance-based restricted stock unit (\"PRSU\") award | \u200b | \u200b | 808,771", + "rows": [ + [ + "Equity Award", + "\u200b", + "\u200b", + "Number of Shares" + ], + [ + "Time-based restricted stock unit (\"TRSU\") award", + "\u200b", + "\u200b", + "4,642,348" + ], + [ + "Performance-based restricted stock unit (\"PRSU\") award", + "\u200b", + "\u200b", + "808,771" + ] + ], + "table_index": 15, + "table_kind": "data" + }, + "text": "Equity Award | \u200b | \u200b | Number of Shares\nTime-based restricted stock unit (\"TRSU\") award | \u200b | \u200b | 4,642,348\nPerformance-based restricted stock unit (\"PRSU\") award | \u200b | \u200b | 808,771" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b322", + "block_sequence": 322, + "block_sha256": "f87e6ecdac1f60817b59a5714a511e5bac9e213d031d201a550bb1abd4e7ad33", + "block_type": "paragraph", + "char_count": 1987, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 322, + "char_end": 1987, + "char_start": 0, + "fragment_sha256": "c8c790c45df4ffc25c6e2827c105d73c48e606ec1f7e9490b2eb51cd91b12ca1", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Time-Based Restricted Stock Unit Award \u2013 The TRSU award is subject to a four-year vesting schedule with 25% of the total number of units subject to the award vesting November 15, 2021, the first anniversary of his vesting commencement date and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to his continuous service with us through each such vesting date. The TRSU award is subject to vesting acceleration as described under \u201cExecutive Compensation Tables \u2014 Potential Payments Upon Termination or Change in Control.\u201d Performance-Based Restricted Stock Unit Award \u2013 The PRSU award vests, subject to Mr. Low Ah Kee\u2019s continued performance of services to us through each applicable vesting date, as to 1/5th of the PRSUs, or approximately 161,754 shares, upon the achievement of the share price milestones set forth below. The share price is to be calculated based on the VWAP of our common stock over any 60-day period or, if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the 2020 Plan). In the event of a Change in Control structured as a stock-for-stock acquisition, the value of the acquiror\u2019s shares will be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to consummation of such Change in Control. The PRSU award is not otherwise entitled to accelerated vesting in connection with a Change in Control. In the event of certain involuntary terminations of employment by Mr. Low Ah Kee prior to the time that the performance- based vesting criteria of the PRSU award have been satisfied, the PRSU award will remain outstanding and vest as to performance when the applicable share price milestones are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such share price milestones are not satisfied by the end of such 60-day period, the PRSU award will expire." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b323", + "block_sequence": 323, + "block_sha256": "876c477bf1e132aabe91cceb35a913fefe6a3dc6181a920b94ae9df49fc85703", + "block_type": "table", + "char_count": 227, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 323, + "char_end": 227, + "char_start": 0, + "fragment_sha256": "fa56065ffc1f40225bd858b542ab6df743d5bda04e25fb36365303dfab1e50ea", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": 16, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| |\n| --- |\n| Share Price Milestones |\n| 1/5th of the PRSU award shares at $23.54 |\n| 1/5th of the PRSU award shares at $30.60 |\n| 1/5th of the PRSU award shares at $39.78 |\n| 1/5th of the PRSU award shares at $51.71 |\n| 1/5th of the PRSU award shares at $67.23 |", + "n_cols": 1, + "n_rows": 6, + "plain_text": "Share Price Milestones\n1/5th of the PRSU award shares at $23.54\n1/5th of the PRSU award shares at $30.60\n1/5th of the PRSU award shares at $39.78\n1/5th of the PRSU award shares at $51.71\n1/5th of the PRSU award shares at $67.23", + "rows": [ + [ + "Share Price Milestones" + ], + [ + "1/5th of the PRSU award shares at $23.54" + ], + [ + "1/5th of the PRSU award shares at $30.60" + ], + [ + "1/5th of the PRSU award shares at $39.78" + ], + [ + "1/5th of the PRSU award shares at $51.71" + ], + [ + "1/5th of the PRSU award shares at $67.23" + ] + ], + "table_index": 16, + "table_kind": "layout" + }, + "text": "Share Price Milestones\n1/5th of the PRSU award shares at $23.54\n1/5th of the PRSU award shares at $30.60\n1/5th of the PRSU award shares at $39.78\n1/5th of the PRSU award shares at $51.71\n1/5th of the PRSU award shares at $67.23" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b324", + "block_sequence": 324, + "block_sha256": "8a33753a67fdb70d450d8f04360b768876d6486f6aa31723fbeba284cb7b560b", + "block_type": "paragraph", + "char_count": 1039, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 324, + "char_end": 1039, + "char_start": 0, + "fragment_sha256": "aeda568df7e388c4b0c172985cd729b941f31123400cebb43af499407ee25cbe", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Mr. Low Ah Kee will not earn the first tranche of the award until the 60-day VWAP of our common stock equals or exceeds $23.54 (with additional tranches tied to even higher 60-day VWAPs of $30.60, $39.78, $51.71 and $67.23, respectively). For illustrative purposes, see the table set forth above under \u201cEquity Awards for Mr. Wu\u201d for the value to all Opendoor stockholders assuming each price milestone is achieved. The Compensation Committee believes the performance targets ensure that Mr. Low Ah Kee remains highly incentivized over an extended period of time to capitalize on our unique market opportunity to grow the Company and generate stockholder value, while at the same time ensuring his enduring engagement and commitment to the Company. Equity Awards for Ms. Stevens On March 30, 2021, the Compensation Committee granted to Ms. Stevens two TRSU awards, one that could be settled for 121,316 shares of our common stock (the \u201cFirst Award\u201d) and one that could be settled for 153,684 shares of our common stock (the \u201cSecond Award\u201d)." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b325", + "block_sequence": 325, + "block_sha256": "13275c10bc5b5f782d241d4898a96078decbc87443930d505bbd99b6aac206a5", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 325, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "93195e28cf053d6467401e4500e24f82c1f4ace03b7c568607869bd24b09fd00", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" 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"9ede349848320fa23f1bb2829acfec03d97240752415527d36dcf8bb5599c34c", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "The First Award was subject to a one-year vesting schedule with 25% of the units subject to the award vesting on March 1, 2021, the vesting commencement date, and the remaining 75% of the units vesting on the one-year anniversary of the vesting commencement date, subject to her continuous service with us through such vesting date. Due to Ms. Stevens\u2019 separation from the Company on September 1, 2021, the remaining 75% of the First Award was forfeited. The Second Award was subject to a two-year vesting schedule with 25% of the units subject to the award vesting on June 15, 2021, the vesting commencement date, 50% of the units vesting on the one-year anniversary of the vesting commencement date and 25% of the units vesting on the two-year anniversary of the vesting commencement date, subject to her continuous service with us through each such vesting date. Due to Ms. Stevens\u2019 separation from the Company on September 1, 2021, the remaining 75% of the Second Award was forfeited. Annual Cash Bonuses In 2021, as in past years, we did not maintain an annual cash bonus or other incentive plan for our executive officers, including our named executive officers. Instead, our Board and the Compensation Committee relied primarily on the long-term incentive compensation opportunities granted to our executive officers in the form of both the previously granted and newly granted awards using both TRSU awards with time-based vesting requirements and PRSU awards with performance-based vesting requirements. Sign-On and Retention Bonuses In order to attract top talent, we from time to time provide sign-on and retention compensation to our executive officers. In connection with the hire of Mr. Low Ah Kee in November 2020, the board of directors of Opendoor Labs approved a cash sign-on and retention bonus in the amount of $300,000, $150,000 of which was paid within five business days after his employment start date and the remaining $150,000 of which was paid within five business days after the first anniversary of his employment start date. We believed that these bonuses were appropriate as an incentive for Mr. Low Ah Kee to join us and to help retain Mr. Low Ah Kee through the first anniversary of his employment start date, in addition to Mr. Low Ah Kee\u2019s equity awards discussed above. In connection with the hire of Mr. Morillo in January 2021, we approved a cash sign-on and retention bonus in the aggregate amount of $3,800,000, $1,500,000 of which was paid as a sign-on bonus in January 2021, $1,150,000 of which was paid as a retention bonus in January 2022 after the first anniversary of his employment start date and $1,150,000 of which will be paid as a retention bonus in 2023 within 30 days after the second anniversary of his employment start date, subject to his continuous active employment with us through such anniversary date. We believed that these bonuses were appropriate as an incentive for Mr. Morillo to join us and to help retain Mr. Morillo through the second anniversary of his employment start date. Health and Welfare Benefits Our named executive officers are eligible to participate in the same employee benefit plans, and on the same terms and conditions, as all other full-time, salaried U.S. employees, subject to the terms and eligibility requirements of such plans. These benefits include medical, dental and vision insurance, business travel insurance, an employee assistance program, health and dependent care flexible spending accounts, basic life insurance, accidental death and dismemberment insurance, short-term and long-term disability insurance, commuter benefits and reimbursement for mobile phone coverage. We also sponsor a Section 401(k) retirement savings plan (the \u201cSection 401(k) Plan\u201d) that provides our executive officers, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis subject to the limits imposed by the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d), to the same extent as our other eligible full-time employees. Participants are able to defer up to 90% of their eligible compensation subject to applicable annual limits under the Code. All participants\u2019 interests in their deferrals are 100% vested when contributed. Currently, we do not match employee contributions to the Section 401(k) Plan. We believe that providing a vehicle for tax-deferred retirement savings though our Section 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers. We design our employee benefits programs to be affordable and competitive in relation to the market as well as compliant with applicable laws and practices. We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices and the competitive market. 30 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b331", + "block_sequence": 331, + "block_sha256": "7e38d323e0c3d1b9ac88d4984416bd7b6070f9236e1501ff9eff427ee95da9f9", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 331, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "8862157d72ce0aff0c549be3872a91de18b5fbbf0905433a3cbf690329c7e4d1", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "End Page 34" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b332", + "block_sequence": 332, + "block_sha256": "7c110d7e25da95b0d439c9f72309b8d91e60262b5584e3969456cadbd384b4d2", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 332, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "4c78e2cbc9677e6068c211aa98dc750fe2625d2e01d5c00a0ec6713fa8847342", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Begin Page 35" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b333", + "block_sequence": 333, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 333, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "ef4044a01895663d0735eda4ab335e9043a93d93ed697bd526e82ac2a68d06ff", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b334", + "block_sequence": 334, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 334, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b335", + "block_sequence": 335, + "block_sha256": "e69c34871e0d09bdd8827f36188c9b490b9d1ddb6f1068ee375c675983e4c3ec", + "block_type": "paragraph", + "char_count": 4636, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 335, + "char_end": 4636, + "char_start": 0, + "fragment_sha256": "2e83cd910491c544b3f7029fb06a19e9830308813bfe2adeb89b504f53e58613", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Perquisites and Other Personal Benefits Currently, we do not view perquisites or other personal benefits as a significant component of our executive compensation program. Accordingly, we do not generally provide perquisites or other personal benefits to our named executive officers, except as generally made available to our employees or in situations where we believe it is appropriate to assist an individual in the performance of his or her duties, to make him or her more efficient and effective and for recruitment and retention purposes. During 2021, our named executive officers did not receive perquisites or other personal benefits that were, in the aggregate, $10,000 or more for each individual, except for Messrs. Wu and Wong. For Messrs. Wu and Wong, the Company paid filing fees of $280,000 and $45,000, respectively, in connection with their compliance with the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (the \u201cHSR Act\u201d) related to the acquisition of shares of our stock, as well as a separate tax \u201cgross up\u201d payment to each of them for any taxes they incurred in connection with the payment by the Company of the HSR Act filing fee on their behalf. In the future, we may provide perquisites or other personal benefits in limited circumstances, such as those described in the preceding paragraph. All future practices with respect to perquisites or other personal benefits will be approved and subject to periodic review by the Compensation Committee. Employment Offer Letters We have entered into written employment offer letters with each of our named executive officers. Each of these employment offer letters was approved prior to the Business Combination by the compensation committee and/or board of directors of Opendoor Labs. We believe that these arrangements were necessary to secure the services or the continued service of these individuals in a highly competitive job market. Each of these employment agreements does not have a specific term, provides for \u201cat will\u201d employment (meaning that either we or the named executive officer may terminate the employment relationship at any time without cause) and generally set forth the named executive officer\u2019s base salary, eligibility to participate in our employee benefit plans and programs in effect for similarly situated employees during his or her employment, in some instances provided for a sign-on bonus and/or retention payment and, in certain instances, provided for certain of the named executive officers to receive equity awards on the terms and conditions as set forth in the employment offer letter. In addition, each named executive officer either agreed to execute and be bound by our Confidential Information and Inventions Assignment Agreement or confirmed that the named executive officer agreed to continue to be bound by the Confidential Information and Inventions Assignment Agreement he or she had previously executed. Further, each of these employment offer letters provides for certain vesting acceleration benefits upon an involuntary termination of employment. These arrangements are discussed in more detail in \u201cPost-Employment Compensation\u201d below and \u201cPotential Payments upon Termination or Change in Control\u201d elsewhere in this proxy statement. For a detailed description of the employment offer letters with our named executive officers, see \u201cEmployment Offer Letters\u201d below. Post-Employment Compensation Certain of the employment offer letters with our named executive officers provide for protections in the event of certain involuntary terminations of employment, including a termination of employment in connection with a change in control of the Company, in exchange for the execution of a general release of claims in favor of the Company. In the event of certain involuntary terminations of employment by Messrs. Wu and Low Ah Kee prior to the time that the performance-based vesting criteria of their PRSU awards have been satisfied, the PRSU awards will remain outstanding and vest as to performance when the applicable performance-based vesting criteria are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such performance-based vesting criteria are not satisfied by the end of such 60-day period, the PRSU awards will expire. In addition, we entered into agreements providing for the accelerated vesting of all time-based equity awards upon an involuntary termination of employment in connection with a change in control of the Company with each of our named executive officers in February 2022. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 31" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b336", + "block_sequence": 336, + "block_sha256": "c1a9282df9204146ccab5f03ecec1b7b04160bf86618ba0114d1406fd63999ba", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 336, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "e670bbfef0c28c370418b116c05724ebabc52383e1fc12cddc991d8b796a47ce", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "End Page 35" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b337", + "block_sequence": 337, + "block_sha256": "1d8eea4801445cc0615b7c6947612e84e1d7ffa50b1a5ccc7ea55d39da187ef1", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 337, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "dc21ad1e604bf12dc113ed8016fe489a025521ab7d9f8f46d621fa8a004ea495", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Begin Page 36" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b338", + "block_sequence": 338, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 338, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "c371af298111bc91ca7dae7b9726b8a911b3a3c6be9a688b1fe9943fdd05fb37", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b339", + "block_sequence": 339, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 339, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b340", + "block_sequence": 340, + "block_sha256": "541a181b470c85de09991fe1df74cfc42ad4afd8d281767c3a923df0149f1aa9", + "block_type": "paragraph", + "char_count": 4923, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 340, + "char_end": 4923, + "char_start": 0, + "fragment_sha256": "f0c199a490269f886c328ec22c14eb0618771d8db06ff11301a700c8555613d8", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "We believe these provisions provide reasonable compensation in the form of certain limited benefits to the named executive officer if he or she leaves our employ under certain circumstances to facilitate his or her transition to new employment. Further, we seek to mitigate any potential employer liability and avoid future disputes or litigation by requiring a departing named executive officer to sign a general release of all claims in favor of the Company as a condition to receiving post-employment compensation payments or benefits. We believe that these agreements help maintain our named executive officers\u2019 continued focus on their assigned duties to maximize stockholder value if there is a potential change in control transaction and mitigate the risk of subsequent disputes or litigation. Under these provisions, all payments and benefits in the event of a change in control of the Company are payable only if there is a connected loss of employment by a named executive officer (a so-called \u201cdouble-trigger\u201d arrangement). We use this double-trigger arrangement to protect against the loss of retention value following a change in control of the Company and to avoid windfalls, both of which could occur if vesting of either equity or cash-based awards accelerated automatically as a result of the transaction. We are not obligated to provide excise tax payments, which we refer to as gross-ups, to any of our executive officers, including our named executive officers. We believe that having in place reasonable and competitive post-employment compensation arrangements, including in the event of a change in control of the Company, is essential to attracting and retaining highly-qualified executive officers. The Compensation Committee does not consider the specific amounts payable under the post-employment compensation arrangements when determining our named executive officers\u2019 compensation. We do believe, however, that these arrangements are necessary to offer competitive compensation packages. Hedging and Pledging of Securities We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company's securities. Our directors, officers and employees are, therefore, prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading and Trading Window Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities, whether they are granted to such individual by the Company as part of such person's compensation or otherwise held, directly or indirectly, by such individual. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Head of Legal. Tax and Accounting Considerations The Compensation Committee takes the applicable tax and accounting requirements into consideration in designing and overseeing our executive compensation program. Deductibility of Executive Compensation For federal income tax purposes, publicly-traded companies may be prohibited under Section 162(m) of the Code from deducting employee enumeration in excess of $1 million paid to their chief executive officer, chief financial officer, any other executive officer whose total compensation is required to be reported to stockholders under the Exchange Act by reason of such individual being among the three highest compensated executive officers for the tax year and any executive officer who was subject to the deduction limit in any tax year beginning after December 31, 2016. Even if Section 162(m) may limit the compensation deduction, our Board and the Compensation Committee believe our compensation policies and practices should be designed to help us meet our established goals and objectives. While the Compensation Committee will consider the impact of the Section 162(m) deduction limitation, it intends to continue to compensate our executive officers, including our named executive officers, in a manner that is in the best interest of our stockholders and reserves the right to make compensation decisions that may not be deductible under Section 162(m) where the Compensation Committee determines the compensation to be appropriate and in the best interests of the Company and our stockholders. 32 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b341", + "block_sequence": 341, + "block_sha256": "a36f0bd79e521a1a3468ccc3d7796144862034c7e6ae128e509e628dc7c5a667", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 341, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "27efa991a421c2f75241698784c276ce42ed430748db1154a0b58bde28aa68b5", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "End Page 36" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b342", + "block_sequence": 342, + "block_sha256": "f34b61ce8aa908074f4c839748857661f219925d31e2bd7a66de2ccfb93f3953", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 342, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "a857c16784ddb4bff4833c5c4214eb566225941337b74fe7fe674d79fc1a09be", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Begin Page 37" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b343", + "block_sequence": 343, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 343, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "36e499809e506ebefc3662679a11ea730aca162c505973a53e5f5ddf7983d04f", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b344", + "block_sequence": 344, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 344, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b345", + "block_sequence": 345, + "block_sha256": "16eb9327d48d69fc9b6f7eb3fcb8318bcd93f5a8f78cf8627adf5d67b02c1a80", + "block_type": "paragraph", + "char_count": 1969, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 345, + "char_end": 1969, + "char_start": 0, + "fragment_sha256": "80620ddd4bb0dc5680d40f8dc482ac085023114c6ee84741941807a863d19b47", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "Accounting for Stock-Based Compensation The Compensation Committee takes accounting considerations into account in designing compensation plans and arrangements for our executive officers and other employees. Chief among these is the Financial Accounting Standard Board\u2019s Accounting Standards Codification, Compensation \u2013 Stock Compensation (Topic 718) (\u201cASC Topic 718\u201d), the standard which governs the accounting treatment of certain stock-based compensation. Among other things, ASC Topic 718 requires us to record a compensation expense in our income statement for all equity awards granted to our executive officers and other employees. This compensation expense is based on the grant date \u201cfair value\u201d of the equity award and, in most cases, will be recognized ratably over the award\u2019s requisite service period (which, generally, will correspond to the award\u2019s vesting schedule). This compensation expense is also reported in the compensation tables below, even though recipients may never realize any value from their equity awards. HSR Act Filing Fee The HSR Act requires that any time certain individuals acquire shares of Company stock and, after such acquisition, hold more than a certain amount of value in stock of the Company, those individuals must make a filing under the HSR Act, unless an exception applies. Due to the value of shares of Company stock acquired by Messrs. Wu and Wong, they were each required to make a filing and related payments under the HSR Act, in the amounts of $280,000 and $45,000, respectively. On March 30, 2021, the Compensation Committee agreed to pay such HSR Act filing fees on behalf of Messrs. Wu and Wong, on a one-time basis, as compensation to them. The Compensation Committee also approved a separate tax gross-up payment to Messrs. Wu and Wong for taxes they incurred in connection with the payment by the Company of the HSR Act filing fees on their behalf. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 33" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b346", + "block_sequence": 346, + "block_sha256": "00d52389c426beeaf5943828e6bc55196d8c251ab82b78c35cf07a94c2d890e3", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 346, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "dd0d85fb1c85ec333588b4477fe3e01587dee695e0a0f2e2ce0019ebad34c1ee", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION", + "Compensation Discussion and Analysis", + "Competitive Positioning" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", + "table": null, + "text": "End Page 37" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b347", + "block_sequence": 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b352", + "block_sequence": 352, + "block_sha256": "7515e59c9f95966b64b5761f7832d4adca3e5a8a8579a093e27b45648467769b", + "block_type": "paragraph", + "char_count": 209, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 352, + "char_end": 209, + "char_start": 0, + "fragment_sha256": "616de7d1f1451b50882ffc0a0ad02d06e5bc5a44cddd8caa6d59785888bec4fd", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s73", + "table": null, + "text": "The table below shows compensation of our named executive officers for the fiscal years ended December 31, 2021, 2020 and 2019, to the extent such persons served as named executive officers during such period." + }, + { + "block_id": 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| --- | --- | --- | --- | --- |\n| Name and Principal Position | \u200b | \u200b | Year | \u200b | \u200b | Salary ($) | \u200b | \u200b | Bonus ($)(1) | \u200b | \u200b | Stock Awards ($)(2) | \u200b | \u200b | All Other Compensation ($)(3) | \u200b | \u200b | Total ($) |\n| Eric Wu | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b325,100 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b111,598,143 | \u200b | \u200b | \u200b410,297 | \u200b | \u200b | \u200b112,333,540 |\n| Chief Executive Officer | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b189,584(4) | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b370,051,408(5) | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b370,240,992 |\n| | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b275,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b275,000 |\n| Carrie Wheeler | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b350,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b350,000 |\n| Chief Financial Officer | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b114,722 | \u200b | \u200b | \u200b100,000 | \u200b | \u200b | \u200b50,060,723(6) | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b50,275,445 |\n| Andrew Low Ah Kee | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b350,000 | \u200b | \u200b | \u200b150,000 | \u200b | \u200b | \u200b112,546,679(7) | \u200b | \u200b | \u200b382 | \u200b | \u200b | \u200b113,047,061 |\n| President | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | |\n| Daniel Morillo | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b345,139 | \u200b | \u200b | \u200b2,650,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b2,995,139 |\n| Chief Investment Officer | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | |\n| Ian Wong | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b324,986 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b74,196 | \u200b | \u200b | \u200b399,182 |\n| Chief Technology Officer | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | |\n| Elizabeth Stevens | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b225,972 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b5,643,000(8) | \u200b | \u200b | \u200b367 | \u200b | \u200b | \u200b5,869,339 |\n| Former Head of Legal | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b300,000 | \u200b | \u200b | \u200b75,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b375,000 |", + "n_cols": 19, + "n_rows": 14, + "plain_text": "Name and Principal Position | \u200b | \u200b | Year | \u200b | 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| \u200b112,333,540\nChief Executive Officer | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b189,584(4) | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b370,051,408(5) | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b370,240,992\n | \u200b | \u200b | 2019 | \u200b | \u200b | \u200b275,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b275,000\nCarrie Wheeler | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b350,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b350,000\nChief Financial Officer | \u200b | \u200b | 2020 | \u200b | \u200b | \u200b114,722 | \u200b | \u200b | \u200b100,000 | \u200b | \u200b | \u200b50,060,723(6) | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b50,275,445\nAndrew Low Ah Kee | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b350,000 | \u200b | \u200b | \u200b150,000 | \u200b | \u200b | \u200b112,546,679(7) | \u200b | \u200b | \u200b382 | \u200b | \u200b | \u200b113,047,061\nPresident | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \nDaniel Morillo | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b345,139 | \u200b | \u200b | \u200b2,650,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b2,995,139\nChief Investment Officer | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \nIan Wong | \u200b | \u200b | 2021 | \u200b | \u200b | \u200b324,986 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b74,196 | \u200b | \u200b | \u200b399,182\nChief Technology Officer | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \nElizabeth Stevens | \u200b | \u200b | 2021 | \u200b 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"table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s73", + "table": null, + "text": "(1) Amounts listed represent sign-on and retention bonuses paid to Ms. Wheeler and Messrs. Low Ah Kee and Morillo and a retention bonus paid to Ms. Stevens, each as described above in the section entitled \u201cCompensation Discussion and Analysis \u2014 Sign-On and Retention Bonuses\u201d. (2) Amounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer. For additional information regarding the stock-based awards granted to our named executive officers, please see Note 14. Share-Based Awards to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 and for the year ended December 31, 2020. (3) Amount listed represents (a) for Mr. Wu, a $280,000 payment for HSR filing fees and a $130,297 tax gross-up related to the HSR filing fee payment, (b) for Mr. Wong, a $45,000 payment for HSR filing fees and a $29,196 tax gross-up related to the HSR filing fee payment and (c) for Mr. Low Ah Kee and Ms. Stevens, a tax gross-up for a COVID-19 relief payment available to all employees. (4) Mr. Wu donated his salary for a portion of 2020 to a relief fund for Company employees affected by staff reductions in force. (5) $354,175,995 of this amount represents the grant date fair value of PRSUs which are subject to performance-based vesting conditions (as described below in the section entitled \u201cEmployment Offer Letters \u2014 Eric Wu Continued Employment Letter Agreement of PRSUs which are subject to performance- Continued Employment Letter Agreement\u201d). Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Mr. Wu in 2020 that are subject to performance-based vesting conditions is $438,237,347, which assumes the achievement of the highest level of such performance conditions. (6) $3,243,247 of this amount represents the grant date fair value of PRSUs which were subject to performance-based vesting conditions (as described below in the section entitled \u201cEmployment Offer Letters \u2014 Carrie Wheeler Offer Letter Agreement which were subject to an Offer Letter Agreement\u201d). Such grant date fair value was based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Ms. Wheeler in 2020 that were subject to performance-based vesting conditions is $4,815,000, which assumes the achievement of the highest level of such performance conditions. (7) $12,086,268 of this amount represents the grant date fair value of PRSUs which are subject to performance-based vesting conditions (as described below in the section entitled \u201cEmployment Offer Letters \u2014 Andrew Low Ah Kee Offer Letter Agreement are subject to performance Offer Letter Agreement\u201d). Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Mr. Low Ah Kee in 2021 that are subject to performance-based vesting conditions is $17,501,804, which assumes the achievement of the highest level of such performance conditions. (8) Due to Ms. Stevens\u2019 separation from the Company on September 1, 2021, 75% of her stock awards granted in 2021 was unvested and forfeited." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b355", + "block_sequence": 355, + "block_sha256": "dac08c07ba048f1fdc231fe737d2843cc8937f44c53080e53d931f2843b6e04a", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 355, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "70fbc37ac017e067194065b1183e09dffd96613779fe28e3362afc03642ec213", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s73", + "table": null, + "text": "34 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + 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"(1) Amounts listed represent the grant date fair value of awards, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer. (2) This amount represents the grant date fair value of PRSUs which are subject to performance-based vesting conditions (as described below in the section entitled \u201c\u2014 Andrew Low Ah Kee Offer Letter Agreement represents the grant date fair value of PRSUs which a Andrew Low Ah Kee Offer Letter Agreement\u201d), which is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Mr. Low Ah Kee in 2021 that are subject to performance-based vesting conditions is $17,501,804, which assumes the achievement of the highest level of such performance conditions. (3) Due to Ms. Stevens\u2019 separation from the Company on September 1, 2021, 75% of her stock awards granted in 2021 was unvested and forfeited." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b364", + "block_sequence": 364, + "block_sha256": "71642b6f7e37eaf0b3276a1082037aca08275794144a251590ad6346cd5332d4", + "block_type": "heading", + "char_count": 24, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 364, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "d364a3fd22e8c20cda41256dcf7bfdfcd6298b7d77581d7d1c530b952d8063a5", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "2021 Grants of Plan-Based Awards", + "Employment Offer Letters" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s75", + "table": null, + "text": "Employment Offer Letters" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b365", + "block_sequence": 365, + "block_sha256": "aadc62966b0b70b8c7180ca2d297ebb72d8fa4825c33724420f4f44364d7282d", + "block_type": "heading", + "char_count": 45, + "level": 7, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 365, + "char_end": 45, + "char_start": 0, + "fragment_sha256": "cf64867aaf188f20b2623c1bdd045d088d176eea0d527ca7927a61879a4f3da7", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Eric Wu Continued Employment Letter Agreement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s76", + "table": null, + "text": "Eric Wu Continued Employment Letter Agreement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b366", + "block_sequence": 366, + "block_sha256": "1c94cd8a52dd1ab0cb7a82c1448557a98137478b51643fdd84dec9a0d29218e1", + "block_type": "paragraph", + "char_count": 819, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 366, + "char_end": 819, + "char_start": 0, + "fragment_sha256": "be1f73641b2f482de3581328929d7c7a2c8f49cb7c51ae18d6f74a6cce7e9cd6", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Eric Wu Continued Employment Letter Agreement" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s76", + "table": null, + "text": "We entered into a continued employment letter agreement with Mr. Wu, referred to as the Wu Agreement, in January 2020, which the Opendoor Labs board of directors negotiated prior to the contemplation of the Business Combination, which was subsequently amended and restated in September 2020. The Wu Agreement provides for an unspecified term of employment and entitles Mr. Wu to an annual base salary of $325,000 and certain TRSU and PRSU awards (as adjusted to reflect the Business Combination). 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The Wheeler Agreement provides for an unspecified term of employment and entitles Ms. Wheeler to a sign-on and retention bonus of $100,000 (which has been paid), an annual base salary of $350,000 and certain RSU awards (as adjusted to reflect the Business Combination). Pursuant to the Wheeler Agreement, Ms. Wheeler was granted 3,898,277 TRSUs and 485,262 PRSUs in her capacity as our CFO (collectively, the \u201cWheeler CFO RSUs\u201d), which will vest only if both (i) a liquidity-based vesting condition and (ii) either (a) a time-based vesting condition or (b) a performance-based vesting condition are satisfied, in each case, subject to Ms. Wheeler\u2019s continued employment with us through the applicable vesting date. 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The unvested Wheeler CFO RSUs are subject to vesting acceleration as described under \u201c\u2014 Potential Payments Upon Termination or Change in Control.\u201d 485,262 of the Wheeler CFO RSUs were further subject to a performance-based vesting condition whereby the award vested upon the date on which the 60-day volume weighted average closing price of the Company\u2019s publicly traded class of common stock was at least $16.48. In addition, Ms. Wheeler was granted 50,160 TRSUs in February 2020 in her capacity as a member of the Opendoor Labs board of directors (the \u201cWheeler Director RSUs\"). The Wheeler Director RSUs vested when the liquidity event condition was satisfied in February 2021 upon the effective date of the Company's registration statement filed under the Securities Act for sale of its common stock. The Wheeler Agreement does not provide for any cash severance entitlements or benefit continuation. Andrew Low Ah Kee Offer Letter Agreement We entered into an offer letter agreement with Mr. Low Ah Kee, referred to as the Low Ah Kee Agreement, in October 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination. The Low Ah Kee Agreement provides for an unspecified term of employment and entitles Mr. Low Ah Kee to a sign-on bonus of $150,000 and a retention bonus of $150,000 (both of which have been paid), an annual base salary of $350,000 and certain TRSU and PRSU awards (as adjusted to reflect the Business Combination). Pursuant to the Low Ah Kee Agreement, Mr. Low Ah Kee was granted TRSUs and PRSUs in March 2021, the terms and conditions of which are described under \u201cCompensation Discussion and Analysis \u2014 Compensation Elements \u2014 Equity Awards for Mr. Low Ah Kee.\u201d The Low Ah Kee Agreement does not provide for any cash severance entitlements or benefit continuation. Daniel Morillo Offer Letter Agreement We entered into an offer letter agreement with Mr. Morillo in October 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination (the \u201cMorillo Agreement\u201d). The Morillo Agreement provides for an unspecified term of employment and entitles Mr. Morillo to sign-on and retention bonuses as described in \u201cCompensation Discussion and Analysis \u2014 Sign-On and Retention Bonuses,\u201d an annual base salary of $350,000 and certain TRSU and PRSU awards (as adjusted to reflect the Business Combination). Pursuant to the Morillo Agreement, Mr. Morillo was granted 2,102,805 TRSUs and 485,262 PRSUs in December 2020 (collectively, the \u201cMorillo RSUs\u201d), which will vest only if both (i) a liquidity-based vesting condition and (ii) either (a) a time-based vesting condition or (b) a performance-based vesting condition are satisfied, in each case, subject to Mr. Morillo\u2019s continued employment with us through the applicable vesting date. The liquidity-based vesting condition was satisfied upon the completion of the Business Combination. 1,698,420 of the Morillo RSUs are further subject to a time-based vesting condition whereby 25% of the award vested on the first anniversary of Mr. Morillo\u2019s employment start date with us (the \u201cMorillo Start Date\u201d) and 75% of the award vests in substantially equal quarterly installments over a three-year period thereafter. 404,385 of the Morillo RSUs are further subject to a time-based vesting condition with a vesting commencement date of the third anniversary of the Morillo Start Date and shall vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary, subject to his continued employment with us on each such vesting date. The unvested Morillo RSUs are subject to vesting acceleration as described under \u201c\u2014 Potential Payments Upon Termination or Change in Control.\u201d 485,262 of the Morillo RSUs were further subject to a performance-based vesting condition whereby the award vested upon the date on which the 60-day volume weighted average closing price of the Company\u2019s publicly traded class of common stock was at least $16.48. The Morillo Agreement does not provide for any cash severance entitlements or benefit continuation. Ian Wong Offer Letter Agreement We entered into an offer letter agreement with Mr. Wong in April 2014, which was amended in September 2020 (as amended, the \u201cWong Agreement\u201d). The amendment was negotiated by the Opendoor Labs board of directors prior to the completion of the Business Combination. The Wong Agreement provides for an unspecified term of employment and entitles Mr. Wong to an annual base salary of $325,000 and certain TRSU awards (as adjusted to reflect the Business Combination). 36 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b375", + "block_sequence": 375, + "block_sha256": "d86e3faf69f8cea705a1df5ced6bfb62415c74e32b788314005b984b7642fbac", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 375, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "335a493d40078caae335ce97d72afd2a0aca27fae7e4645b982f18279ba54fd5", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Carrie Wheeler Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", + "table": null, + "text": "End Page 40" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b376", + "block_sequence": 376, + "block_sha256": "8539fd650c6c5d60689545320f235e901b9ab87d2bd68dde7a6acb0dc655f8e8", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 376, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "143a27c244a1fa2f1089c1cfce1cdae3677b4dc064fe5c9cd5a4cab9c7885bcd", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Carrie Wheeler Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", + "table": null, + "text": "Begin Page 41" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b377", + "block_sequence": 377, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 377, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "ea24187cbb2c8dbcd1c11f64baa41ef06eff7253a33f9b8b6362506235374a6e", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Carrie Wheeler Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b378", + "block_sequence": 378, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 378, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Carrie Wheeler Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b379", + "block_sequence": 379, + "block_sha256": "09e9d5b304183120fc3108f5506de49e2cc543cd003e15585678a4c23044bab9", + "block_type": "paragraph", + "char_count": 630, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 379, + "char_end": 630, + "char_start": 0, + "fragment_sha256": "7653de2a903cf918e9bf1a2b2fe01726d22bf79f1996e15d182dc8f690acb7da", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Carrie Wheeler Offer Letter Agreement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", + "table": null, + "text": "Pursuant to the Wong Agreement, Mr. Wong was granted 2,426,314 TRSUs in May 2019, subject to a five-year vesting schedule, with 25% of the units subject to the award vesting in May 2020 and 1/48th of the units subject to the award vesting in successive equal monthly installments thereafter, subject to Mr. Wong\u2019s continuous service with us through each such vesting date. 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The option award vested over four years following her employment start date with 25% vesting on the first anniversary of the vesting commencement date and the remainder vesting in equal monthly installments thereafter, subject to her continued employment on each such vesting date. 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Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | \u200b | \u200b | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | \u200b | \u200b | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1) |\n| Eric Wu | \u200b | \u200b | 02/06/2020(2) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 596,510 | \u200b | \u200b | 8,715,011 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 507,108 | \u200b | \u200b | 7,408,848 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b12,404,812 | \u200b | \u200b | \u200b181,234,303 |\n| | \u200b | \u200b | 03/30/2021 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 4,418,787 | \u200b | \u200b | 64,558,478 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Carrie Wheeler | \u200b | \u200b | 09/03/2020(4) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 2,402,051 | \u200b | \u200b | 35,093,965 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 12/17/2020(5) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 404,385 | \u200b | \u200b | 5,908,064 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Andrew Low Ah Kee | \u200b | \u200b | 3/9/2021(6) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 3,481,761 | \u200b | \u200b | 50,868,528 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 3/9/2021(7) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 808,771 | \u200b | \u200b | 11,816,144 |\n| Daniel Morillo | \u200b | \u200b | 12/17/2020(4) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 404,385 | \u200b | \u200b | 5,908,065 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 12/17/2020(5) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 1,273,815 | \u200b | \u200b | 18,610,437 | \u200b | \u200b | \u2014 | \u200b | 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\u200b | Grant Date | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Exercisable | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Unexercisable | \u200b | \u200b | Option Exercise Price ($) | \u200b | \u200b | Option Expiration Date | \u200b | \u200b | Number of Shares or Units of Stock That Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | \u200b | \u200b | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | \u200b | \u200b | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1)\nEric Wu | \u200b | \u200b | 02/06/2020(2) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 596,510 | \u200b | \u200b | 8,715,011 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s80", + "table": null, + "text": "(2) The TRSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable grant agreements. The liquidity event condition was satisfied upon the effective date of the Company's registration statement filed under the Securities Act for the sale of its common stock. The service-based condition will be satisfied in 16 successive equal quarterly installments following the vesting commencement date. (3) The PRSUs will vest upon (i) the occurrence of a listing event and (ii) the satisfaction of performance-based vesting conditions. The completion of the Business Combination satisfied the listing event vesting condition. The performance-based vesting condition will be satisfied, subject to Mr. Wu's continued employment with us through each applicable vesting date, as to 1/6th of the PRSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the Wu Agreement). These milestones are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23. One-sixth of the PRSUs vested upon the achievement of the $18.11 stock price milestone in 2021. (4) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liqiudity-based vesting condition. The time-based vesting condition is satisfied as to 25% of the award on the first anniversary of the applicable employment start date and 75% of the award shall vest in substantially equal quarterly installments over a three-year period thereafter. (5) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting conditions have a vesting commencement date of the third anniversary of the applicable employment start date, and vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary, subject to continued employment with us on each such vesting date. (6) The TRSUs are subject to a four-year vesting schedule with 25% of the total number of units subject to the award having vested on November 15, 2021, the first anniversary of his vesting commencement date, and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment with us on each such vesting date. (7) The PRSUs will vest upon the satisfaction of performance-based vesting conditions. The performance-based vesting conditions will be satisfied, subject to Mr. Low Ah Kee\u2019s continued employment with us through each applicable vesting date, as to 1/5th of the PRSUs upon the achievement of each of five predetermined share price milestones based on the 60-day volume weighted average closing price of our publicly traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the Low Ah Kee Agreement). These milestones are $23.54, $30.60, $39.78, $51.71 and $67.23. (8) The TRSUs are subject to a five-year vesting schedule with 25% of the total number of units subject to the award having vested in May 2020 and 1/48th of the total number of units vesting on a monthly basis thereafter, subject to continued employment with us on each such vesting date." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b394", + "block_sequence": 394, + "block_sha256": "74bfcbd5076c42ede944a85accbfb0fcfe8c8871789b9e62bd8db20b7863c861", + "block_type": "heading", + "char_count": 41, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 394, + "char_end": 41, + "char_start": 0, + "fragment_sha256": "c444f9502a710475dbf24b3020a9e3f40b8eb58ec212fb842b7c84a264f9ba84", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Elizabeth Stevens Offer Letter Agreement", + "Confidential Information and Invention Assignment 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(2) The amounts in this column were determined based on the closing market price of the Company's common stock on the trading day immediately prior to the vesting date." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b398", + "block_sequence": 398, + "block_sha256": "3632b61558442ee0cce56fcbdd7970a76802098ac7df87950093ec051da8fcbb", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 398, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "2e8e53e0d306c34d83f2bf0a0c49271924b04af4215e64b59606dd570196a9ee", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Elizabeth Stevens Offer Letter Agreement", + "Confidential Information and Invention Assignment Agreements", + "Option Exercises and Stock Vested in 2021" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s81", + "table": null, + "text": "38 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b399", + "block_sequence": 399, + "block_sha256": "e552c32080a3b384d1db8e02f9fc41c88410de063dc57ce7dca93f9b717ab4a6", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 399, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "4b3273bbd51b73d7704edbf8043b642f25af40c09139e196e5a6c04fa7372f61", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Elizabeth Stevens Offer Letter Agreement", + "Confidential Information and Invention Assignment Agreements", + "Option Exercises and Stock Vested in 2021" + ], + "table_index": null, + "tag_name": "span" + }, + 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s81", + "table": null, + "text": "Potential Payments Upon Termination or Change in Control We maintain arrangements that compensate our named executive officers in the event of certain terminations of employment or a change in control of the Company. In particular, the employment offer letters with our named executive officers provide for protections in the event of certain involuntary terminations of employment, including a termination of employment in connection with a change in control of the Company. Although certain of these offer letters provided for accelerated vesting of equity awards in connection with a change in control of the Company, we entered into written agreements with each of our named executive officers in February 2022 providing for uniform vesting acceleration terms applicable to all existing and future equity awards that are subject to service-based vesting conditions. Pursuant to the accelerated vesting agreements, notwithstanding anything in the 2014 Plan or the 2020 Plan to the contrary, if (1) we consummate a change in control (as defined in the applicable plan) and (2) in connection with or within 12 months after the change in control either (a) the named executive officer\u2019s employment with the Company is terminated without \u201ccause\u201d or (b) the named executive officer resigns from the Company for \u201cgood reason\u201d (each as defined the applicable agreement), then 100% of his or her unvested awards will become fully vested as to service. To be eligible to receive this acceleration benefit, a named executive officer must (i) continue to comply with his or her obligations under his or her employment offer letter and Confidential Information and Inventions Assignment Agreement and (ii) execute a general release of claims in favor of the Company. In the event of certain involuntary terminations of employment by Messrs. Wu and Low Ah Kee prior to the time that the performance-based vesting criteria of their PRSU awards have been satisfied, the PRSU awards will remain outstanding and vest as to performance when the applicable performance-based vesting criteria are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such performance-based vesting criteria are not satisfied by the end of such 60-day period, the PRSU awards will expire. In the event of a change in control, the performance-based vesting criteria will be determined by reference to the value of shares paid for all of the Company's common stock or, if the change in control is structured as a stock-for-stock acquisition, the value of the acquiror's shares shall be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to the consummation of such change in control. The PRSUs are not otherwise entitled to accelerated vesting in connection with a change in control. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 39" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b404", + "block_sequence": 404, + "block_sha256": "a88cd9c51dc578bebbed55c4e2bd4a52ba6132d021ca6ebe03fda07f60cc40f9", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 404, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "31e1928b1223ad544b9138899ba47cc36b5fa715b2f9b5d16196cfff1b0c4834", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Elizabeth Stevens Offer Letter Agreement", + "Confidential Information and Invention Assignment Agreements", + "Option Exercises and Stock Vested in 2021" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s81", + "table": null, + "text": 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"96a16ed4b586e2d21e776b49554266bacde460aaba8bf07aef038dbcd45f3bdf", + "block_type": "paragraph", + "char_count": 886, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 408, + "char_end": 886, + "char_start": 0, + "fragment_sha256": "1b8a560284d28663af490af4843eeac6fb5bca35949988ec8595b4468504a71c", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Elizabeth Stevens Offer Letter Agreement", + "Confidential Information and Invention Assignment Agreements", + "Option Exercises and Stock Vested in 2021" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s81", + "table": null, + "text": "The table below quantifies certain compensation and benefits that would have become payable to each of our named executive officers (i) if his or her employment had terminated on December 31, 2021 without Cause or due to resignation for Good Reason, (ii) if a Change in Control had occurred on December 31, 2021, but there was no termination of the officer's employment and (iii) if a Change in Control had occurred on December 31, 2021, immediately following which the officer's employment was terminated without Cause or due to resignation for Good Reason. The amounts shown are estimates of the amounts that would be received upon a change in control or termination of employment based on the closing market price of the Company\u2019s common stock on December 31, 2021. The actual amounts could be determined only at the time of any actual change in control or termination of employment." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b409", + "block_sequence": 409, + "block_sha256": "e5b238ad8c2213d649c493ef0f0e25ab9e9a08bf853466883ce5d1095e3c2fbf", + "block_type": "table", + "char_count": 2381, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 409, + "char_end": 2381, + "char_start": 0, + "fragment_sha256": "d157761aaea90554da3966b030e85008a437d3a5760ec96fb07d4494f9fcd1db", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Elizabeth Stevens Offer Letter Agreement", + "Confidential Information and Invention Assignment Agreements", + "Option Exercises and Stock Vested in 2021" + ], + "table_index": 21, + "tag_name": "table" + }, + "section_id": 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Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 80,682,337(2) | \u200b | \u200b | 80,682,337 |\n| Carrie Wheeler | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 41,002,030 | \u200b | \u200b | 41,002,030 |\n| Andrew Low Ah Kee | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b(2) | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 50,868,528(2) | \u200b | \u200b | 50,868,528 |\n| Daniel Morillo | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | \u200bChange in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 24,518,502 | \u200b | \u200b | 24,518,502 |\n| Ian Wong | \u200b | \u200b | Termination without Cause or Resignation 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| \u200b | 41,002,030\nAndrew Low Ah Kee | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b(2) | \u200b | \u200b | \u2014\n | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 50,868,528(2) | \u200b | \u200b | 50,868,528\nDaniel Morillo | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | \u200bChange in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 24,518,502 | \u200b | \u200b | 24,518,502\nIan Wong | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 13,293,171 | \u200b | \u200b | 13,293,171\nElizabeth Stevens(3) | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | \u200bChange 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Additional fixed annual cash retainer fees are paid to non-employee directors for committee membership and chairperson service. The non-employee directors eligible to participate in the Non-Employee Director Compensation Policy are Adam Bain, Cipora Herman, Jonathan Jaffe, Pueo Keffer, Jason Kilar, John Rice and Glenn Solomon. Certain principal features of the compensation provided under the Non-Employee Director Compensation Policy are described in more detail below. 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The annual cash compensation amounts are payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the quarterly payment for each non-employee director is prorated for any partial quarter of service by such non-employee director. \u2022 Annual Board Service Retainer: \u2022 All Eligible Directors: $50,000 \u2022 Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) \u2022 Annual Committee Member Service Retainer: \u2022 Member of the Audit Committee: $10,000 \u2022 Member of the Compensation Committee: $7,500 \u2022 Member of the Nominating and Corporate Governance Committee: $5,000 \u2022 Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): \u2022 Chair of the Audit Committee: $20,000 \u2022 Chair of the Compensation Committee: $15,000 \u2022 Chair of the Nominating and Corporate Governance Committee: $10,000 Prior to the start of each fiscal year, a non-employee director may elect to receive 100% of his or her annual cash compensation for the next fiscal year as TRSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average Fair Market Value (as defined in the 2020 Plan) over the 20 trading days ending on the last trading day of the month preceding the month in which the TRSU grant is made (the \u201cShare Price\u201d). 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Pursuant to this provision, director John Rice automatically received a grant, and director Cipora Herman received a grant approved by the Compensation Committee, in each case for 13,342 TRSUs in March 2021. Unless otherwise provided by the Board, at the close of business on the date of each annual meeting of our stockholders, each person who is then a non-employee director will automatically be granted a TRSU for that number of shares of common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share. Each such annual grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that the non-employee director continues to be a non-employee director on such vesting date. Notwithstanding the foregoing, for each non-employee director in office as of immediately prior to the closing of a Change in Control (as defined in the 2020 Plan), their then-outstanding equity awards granted pursuant to the Non-Employee Director Compensation Policy will become fully vested immediately prior to the closing of such Change in Control." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b430", + "block_sequence": 430, + "block_sha256": "8feb18e7d6c7f14cf9d0d06682b3340ba0e7fd7ec86b56f0f8b5835ec23133b5", + "block_type": "heading", + "char_count": 32, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 430, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "f54002a50c56ddef3cf6f5300b5b181ddb7f0f6a946cc80ce86da3c7c8fdf933", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Equity Compensation", + "2021 Director 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s86", + "table": null, + "text": "The following table contains information concerning the compensation of our non-employee directors in fiscal year 2021, including pro rata compensation for the period from the completion of the Business Combination to the end of fiscal year 2020." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b432", + "block_sequence": 432, + "block_sha256": "43fb6d9ae2ef4b8b554550c69141cf40104b433f48e2ddf4130248d8722a1b56", + "block_type": "table", + "char_count": 531, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 432, + "char_end": 531, + "char_start": 0, + "fragment_sha256": "97023d69b6d9b6d48acd78297088563d038343e053d0689ec3b6efe6b16fc532", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Equity Compensation", + "2021 Director 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\u200b | 627,711\nGlenn Solomon | \u200b | \u200b | \u2014 | \u200b | \u200b | 280,077 | \u200b | \u200b | 280,077" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b433", + "block_sequence": 433, + "block_sha256": "a06e6feaf7e5d942a3c7e7f31dd7dd60941dd08e2139f9bc9f21b42695fc3646", + "block_type": "paragraph", + "char_count": 720, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 433, + "char_end": 720, + "char_start": 0, + "fragment_sha256": "a5302937db6b6ca4ef54721a05bfa75972d7b8a7543894fc3ea3619776c7d662", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Equity Compensation", + "2021 Director Compensation Table" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s86", + "table": null, + "text": "(1) Amounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the non-employee director. Amounts listed include the annual TRSU award for each non-employee director, a one-time new director TRSU award for each of Ms. Herman and Mr. Rice and the optional TRSU awards for each non-employee director who elected to receive his or her cash compensation in the form of TRSUs. The table below shows the aggregate number of unvested TRSU awards held as of December 31, 2021 by each non-employee director." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b434", + "block_sequence": 434, + "block_sha256": "add6248ee6d963b68a45fd8ffc0c5a83e1a73108584cfcfd5575e8d0efe5b2f4", + "block_type": "table", + "char_count": 267, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 434, + "char_end": 267, + "char_start": 0, + "fragment_sha256": "25d4043b5b9bb0883042c0dc94ac55a35e279e8ae4287470fd6b8bd79cd9af5c", + "heading_path": [ + "AnchorEXECUTIVE COMPENSATION TABLES", + "Summary Compensation Table", + "Equity Compensation", + "2021 Director Compensation Table" + ], + "table_index": 23, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s86", + "table": { + "caption": null, + "flags": [], + 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", + "table": null, + "text": "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b441", + "block_sequence": 441, + "block_sha256": "fb7974329438914d194dbb35cb226e28235b374f9aef70e0be64e99a50ee5f7e", + "block_type": "paragraph", + "char_count": 1019, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 441, + "char_end": 1019, + "char_start": 0, + "fragment_sha256": "3b4a3fd20fc9bdbdfaec5733e4000c69f36a6f4e51456b41d5ffdb9b506c1672", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", + "table": null, + "text": "The following table sets forth information regarding the beneficial ownership of our common stock as of March 18, 2022, by: \u2022 each person, or group of affiliated persons, known to us to be the beneficial owner of more than 5% of our voting shares; \u2022 each of our named executive officers and directors; and \u2022 all of our executive officers and directors as a group. Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days. Percentage ownership of our voting securities is based on 623,373,775 shares of our common stock issued and outstanding as of March 18, 2022. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b442", + "block_sequence": 442, + "block_sha256": "22eee4ccb9715f7a9b72faf6e82e73339db113baae42939f3e54e13f86b53649", + "block_type": "table", + "char_count": 1240, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 442, + "char_end": 1240, + "char_start": 0, + "fragment_sha256": "b10cab5cad7589e30712b62b9bad74587cc8e8fcf69b77bb37a0100ea82d7775", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": 24, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Name and Address of Beneficial Owner(1) | \u200b | \u200b | Total Number of Shares Beneficially Owned | \u200b | \u200b | Percentage of Common Stock Beneficially Owned |\n| 5% Holders | \u200b | \u200b | | \u200b | \u200b | |\n| AI LiquidRE LLC(2) | \u200b | \u200b | 53,598,914 | \u200b | \u200b | \u200b8.60 % |\n| The Vanguard Group(3) | \u200b | \u200b | 44,379,397 | \u200b | \u200b | \u200b7.12 % |\n| SVF Excalibur (Cayman) Limited(4) | \u200b | \u200b | 41,420,282 | \u200b | \u200b | \u200b6.64 % |\n| T. 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(1) Unless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85281. (2) Based solely on a Schedule 13D filed with the SEC on October 6, 2021, by Access Industries Management, LLC (\u201cAIM\u201d), AI LiquidRE LLC (\u201cAIL\u201d), LBIT 2002 LLC (\u201cLBIT\u201d) and Len Blavatnik (collectively, the \u201cReporting Persons,\u201d and each, a \u201cReporting Person\u201d). 53,524,812 shares of common stock are owned directly by AIL and 74,102 shares of common stock are owned directly by LBIT and, in each case, may be deemed to be beneficially owned by AIM and Len Blavatnik because (i) AIM is the controlling entity of AIL and LBIT, respectively, and (ii) Len Blavatnik controls AIM and LBIT and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL, with respect to shares held directly by AIL, and LBIT, with respect to shares held directly by LBIT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b444", + "block_sequence": 444, + "block_sha256": "268b27d90c927042249dceaf6a40b3ec799909049020a60d2e6664da2ec4434a", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 444, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "554da2e615554d66f8c1a6c2b97797171fffef39d68d93a39c9e95ea84df2e26", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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"fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b449", + "block_sequence": 449, + "block_sha256": "fa8229a77feedab6264c7d4558667b6ae65cd11cb1a5ddf88ce589aef34fd06c", + "block_type": "paragraph", + "char_count": 4121, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 449, + "char_end": 4121, + "char_start": 0, + "fragment_sha256": "d0b12af1d9243603025f9195dfaa08cae0e3139a3d4b6b5739af281c8dd30e0f", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", + "table": null, + "text": "(3) Based solely on a Schedule 13G filed with the SEC on February 10, 2022 by The Vanguard Group. The address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (4) Based solely on a Schedule 13G filed with the SEC on February 14, 2022 by SVF Excalibur (Cayman) Limited (\u201cSVF Excalibur\u201d), SVF Endurance (Cayman) Limited (\u201cSVF Endurance\u201d), SoftBank Vision Fund (AIV M1) L.P. (\u201cAIV M1\u201d) and SB Investment Advisers (UK) Limited (\u201cSBIA UK\u201d). The address for each of SVF Excalibur and SVF Endurance is c/o Walkers Corp Ltd., Cayman Corporate Centre, 27 Hospital Road George Town, Grand Cayman, KY1-9008, Cayman Islands. The address for AIV M1 is 251 Little Falls Drive, Wilmington, DE 19808. The address for SBIA UK is 69 Grosvenor Street, London W1K 3JP, United Kingdom. (5) Based solely on a Schedule 13G filed with the SEC on February 14, 2022 by T. Rowe Price Associates, Inc. The address for T. Rowe Price Associates, Inc. is 100 E. Pratt Street, Baltimore, MD 21202. (6) Includes (i) 28,652,146 shares of common stock held by Eric Wu, (ii) 2,251,441 shares of common stock held by the 2020 Wu Grantor Retained Annuity Trust and (iii) 477,859 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (7) Includes (i) 667,955 shares of common stock held by Andrew Low Ah Kee and (ii) 290,146 shares of issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (8) Includes (i) 3,937,996 shares of common stock held by Ian Wong, (ii) 1,516,446 shares of common stock held by Diana Shean Ting Chiu and (iii) 151,645 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (9) Based solely on a Form 4 filed with the SEC on August 5, 2021 and Company records. Includes (i) 698,501 shares of common stock held by Elizabeth Stevens and (ii) 113,227 shares of common stock issuable upon the exercise of options exercisable as of or within 60 days of March 18, 2022. (10) Includes (i) 29,912 shares of common stock held by Adam Bain, (ii) 1,545 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022, (iii) 225,000 shares of .common stock held by 010118 Management, L.P. (\u201c010118\u201d) and (iv) 2,543,272 shares held by 01 Advisors 01 LP (\u201c01 Advisors\u201d). Mr. Bain is a managing member of 010118 and a managing partner of 01 Advisors and may be deemed a beneficial owner of the shares of common stock held by 010118 and 01 Advisors. (11) Includes (i) 108,909 shares of common stock held by Cipora Herman and (ii) 1,602 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (12) Includes (i) 388,472 shares of common stock held by Pueo Keffer and (ii) 1,373 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (13) Includes (i) 104,938 shares of common stock held by Jason Kilar, (ii) 1,373 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022 and (iii) 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 18, 2022. (14) Includes (i) 4,448 shares of common stock held by John Rice and (ii) 1,259 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (15) Includes (i) 4,143 shares of common stock held by Glenn Solomon, (ii) 1,488 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022, (iii) 44,496 shares of common stock held by The Solomon Family Trust, (iv) 17,442,762 shares of common stock held of record by GGV Capital V L.P. (\u201cGGCV\u201d), (v) 7,330,756 shares of common stock held of record by GGV Capital Select L.P. (\u201cGGCS\u201d) and (vi) 640,145 shares of common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (\u201cGGCVEF\u201d). GGV Capital V L.L.C. (\u201cGGCV LLC\u201d) is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (\u201cGGCS LLC\u201d) is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC and GGCS LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b450", + "block_sequence": 450, + "block_sha256": "4ad6a1d5d4a1e262a56a330b83766a8e1314b294d9936bd5accc847e779bdab7", + "block_type": "heading", + "char_count": 32, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 450, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "5e9e8baeafb397d144b9c523682122b47700318a8a4a96fd7e602bbd660cee14", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "Delinquent Section 16(a) Reports" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b451", + "block_sequence": 451, + "block_sha256": "bdc6a64fc37f50303f6ed5b28c6492e57dc14e66303cc93022096b8aa783d1d3", + "block_type": "paragraph", + "char_count": 961, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 451, + "char_end": 961, + "char_start": 0, + "fragment_sha256": "f929ff9c32f75064a6422b8e9468ac9c8e94b91a7eeee4c682e8650f0bce7c4a", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "Section 16(a) of the Exchange Act requires our directors, officers (as defined under Rule 16a-1(f) under the Exchange Act) and stockholders who beneficially own more than 10% of any class of our equity securities registered pursuant to Section 12 of the Exchange Act (collectively, the \u201cReporting Persons\u201d) to file initial statements of beneficial ownership of securities and statements of changes in beneficial ownership of securities with respect to our equity securities with the SEC. Based solely on our review of the copies of such forms received by us and upon written representations of the Reporting Persons received by us, we believe that there has been compliance with all Section 16(a) filing requirements applicable to such Reporting Persons other than one Form 4 with one transaction for each of Ms. Wheeler and Messrs. Morillo and Wu in 2021, and one Form 4 with one transaction for Mr. Solomon in 2020, all of which were inadvertently filed late." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b452", + "block_sequence": 452, + "block_sha256": "12af9affadaa5c106793e3a0e2011cb3986ed8da4b80e65fe4e41c0be65cc303", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 452, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "2850fe1affc7327b263ff92c8c6c318ef7af3585bd127c404aec683e6bb1c8e0", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "44 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy 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"Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "AnchorCERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS Policies and Procedures for Approval of Related Person Transactions Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). We have a written policy on transactions with related persons that is in conformity with the requirements for issuers having publicly held common stock that is listed on Nasdaq. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company's Head of Legal by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Head of Legal is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in the approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions. There are no related party transactions entered into since January 1, 2021 requiring disclosure. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 45" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b458", + "block_sequence": 458, + "block_sha256": "5f714e52b6332176a713901f93e3083c93c78ba2a1621cc18fb2097e7ccb790c", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 458, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "7c767c8728fee4ac9eb4d2ca48ddc6bf687c1e1985fd88d182378d327cd11c62", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "End Page 49" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b459", + "block_sequence": 459, + "block_sha256": "6e0ba76f191642801a2d098d988698efd868c87ed2b077dbc6d260d780da14a3", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 459, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "40d28f6d3fe4c8156f76d8357c71374316a8bf73efd14297cbe51ab1cf1825bc", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "Begin Page 50" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b460", + "block_sequence": 460, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 460, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "ae2a90f37e15cf003efdb5ed290c770f20d60d999e8282932c93bd3bd089ff5d", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b461", + "block_sequence": 461, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 461, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b462", + "block_sequence": 462, + "block_sha256": "ea471e928381c5fef2005ea89dd0fe485b01c014d4511b57ea8c9d6f25617fc2", + "block_type": "paragraph", + "char_count": 4020, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 462, + "char_end": 4020, + "char_start": 0, + "fragment_sha256": "941b6e808c247da6136c453f379f86d37a2dd3abc1a5e2c166704fcf478ab19d", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", + "table": null, + "text": "AnchorPROPOSAL TWO \u2014 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2022. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, our Board believes that it is advisable to give stockholders an opportunity to ratify this appointment. If this proposal is not approved at the Annual Meeting, our Audit Committee will reconsider its appointment of Deloitte & Touche LLP. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2021. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company. As previously disclosed in the Form 8-K filed with the SEC on December 18, 2020 (the \u201cForm 8-K\u201d), on December 18, 2020, the Audit Committee approved the engagement of Deloitte & Touche LLP as the Company's independent registered public accounting firm, effective immediately. On the same date, the Audit Committee dismissed Marcum LLP (\u201cMarcum\u201d) as the Company's independent registered public accounting firm. In connection with the Business Combination, SCH had engaged Marcum to audit its financial statements included in SCH's registration statement on Form S-4 filed with the SEC. The report of Marcum on the financial statements of SCH as of December 31, 2019, and for the period from October 18, 2019 (inception) through December 31, 2019, did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainties, audit scope or accounting principles, except for an explanatory paragraph in such report regarding substantial doubt about the Company's ability to continue as a going concern. During the period from October 18, 2019 (inception) to December 31, 2019, and the subsequent interim period through December 18, 2020, there were no disagreements between SCH and Marcum on any matter of accounting principles or practices, financial disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Marcum, would have caused it to make reference to the subject matter of the disagreements in its reports on SCH's financial statements for such period. During the period from October 18, 2019 (inception) to December 31, 2019, and the subsequent interim period through December 18, 2020, there were no \u201creportable events\u201d (as defined in Item 304(a)(1)(v) of Regulation S-K under the Exchange Act). During the years ended December 31, 2019 and December 31, 2018 and the subsequent interim period through December 18, 2020, we did not consult with Deloitte with respect to (i) the application of accounting principles to a specified transaction, either completed or proposed, the type of audit opinion that might be rendered on our financial statements, and neither a written report nor oral advice was provided to us that Deloitte concluded was an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any other matter that was the subject of a disagreement or a reportable event (as defined above). We provided Marcum with a copy of the foregoing disclosures and requested that Marcum furnish us with a letter addressed to the SEC stating whether it agrees with the statements made by Opendoor set forth above. A copy of Marcum's letter, dated December 18, 2020, was filed as Exhibit 16.1 to the Form 8-K." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b463", + "block_sequence": 463, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 463, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "2057094ca5497ad96e6624bfb445e869fd6223e52d1b4c3744972eb0b1ed3daf", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s89", + "table": null, + "text": "Board Recommendation" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b464", + "block_sequence": 464, + "block_sha256": "342f14d3c7f6134150644a563fc728ac80220403a6837b06a9bba175be39a246", + "block_type": "paragraph", + "char_count": 209, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 464, + "char_end": 209, + "char_start": 0, + "fragment_sha256": "3ba05941d12c1f679e67de849f741f7009e1449e0d6f4bb1031bdbd685a06837", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s89", + "table": null, + "text": "The Board recommends a vote \u201cFOR\u201d the ratification of the appointment by the Audit Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2022." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b465", + "block_sequence": 465, + "block_sha256": "797bfde3cf8052cffdb10d1ec3de945bc0fe4c39d9ce9b6f61c70e5405caafdb", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 465, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "109b282f60e1e03275e4670822bb61b05bf39f21cc05b014c8aee5130104b03d", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s89", + "table": null, + "text": "46 \u200b \u200b Opendoor Technologies Inc. // 2022 Proxy Statement" + }, + { + "block_id": 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"plain_text": "Fee Category (in thousands) | \u200b | \u200b | 2021 | \u200b | \u200b | 2020\nAudit Fees (1) | \u200b | \u200b | $2,940 | \u200b | \u200b | $1,217\nAudit-Related Fees (2) | \u200b | \u200b | 778 | \u200b | \u200b | 2,839\nTax Fees (3) | \u200b | \u200b | \u200b437 | \u200b | \u200b | 469\nAll Other Fees (4) | \u200b | \u200b | 60 | \u200b | \u200b | \u2014\nTotal Fees | \u200b | \u200b | \u200b$4,215 | \u200b | \u200b | $4,525", + "rows": [ + [ + "Fee Category (in thousands)", + "\u200b", + "\u200b", + "2021", + "\u200b", + "\u200b", + "2020" + ], + [ + "Audit Fees (1)", + "\u200b", + "\u200b", + "$2,940", + "\u200b", + "\u200b", + "$1,217" + ], + [ + "Audit-Related Fees (2)", + "\u200b", + "\u200b", + "778", + "\u200b", + "\u200b", + "2,839" + ], + [ + "Tax Fees (3)", + "\u200b", + "\u200b", + "\u200b437", + "\u200b", + "\u200b", + "469" + ], + [ + "All Other Fees (4)", + "\u200b", + "\u200b", + "60", + "\u200b", + "\u200b", + "\u2014" + ], + [ + "Total Fees", + 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(2) Audit-related fees consist of fees for professional services rendered in connection with (1) financial statements incorporated in SEC filings during 2021 and (2) agreed upon procedures related to certain compliance audits. (3) Tax fees consist of fees billed for services rendered for tax compliance, tax advice and tax planning. (4) All other fees consist of fees for all other services not included in the categories set forth above." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b474", + "block_sequence": 474, + "block_sha256": "25f9591e99bf0465d73f23d2abf2248dc1f211f92c66cfde563c17a832a42867", + "block_type": "heading", + "char_count": 36, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 474, + "char_end": 36, + "char_start": 0, + "fragment_sha256": "efdfee1b91ff73420f16b292ff9d78792c80ad465741d790ba053d57ae28aaf0", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Pre-Approval Policies and Procedures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s91", + "table": null, + "text": "Pre-Approval Policies and Procedures" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b475", + "block_sequence": 475, + "block_sha256": "bf4041f78955b00befa51749371245abc115239640870b50f601a5c563b862d8", + "block_type": "paragraph", + "char_count": 1404, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 475, + "char_end": 1404, + "char_start": 0, + "fragment_sha256": "d2e2e8f7788942d26c1290acf134dcbfb6e5dd47ed33106c84e7d54d4533a3b8", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Pre-Approval Policies and Procedures" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s91", + "table": null, + "text": "The Audit Committee has adopted a policy (the \u201cPre-Approval Policy\u201d) that sets forth the procedures and conditions pursuant to which audit and non-audit services proposed to be performed by the independent auditor may be pre-approved. The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i) explicitly approved by the Audit Committee on a case-by-case basis (\u201cspecific pre-approval\u201d) or (ii) pre-approved on a collective basis pursuant to the Pre-Approval Policy entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (\u201ccollective pre-approval\u201d). Unless a type of service to be provided by Deloitte & Touche LLP has received collective pre-approval, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC's rules on auditor independence. All of the services of Deloitte & Touche LLP for 2021 and 2020 described above were pre-approved by the Audit Committee." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b476", + "block_sequence": 476, + "block_sha256": "c5fd16b2923363952c34322639390a867c00081af4544bb0d4eaba2acfe5ad25", + "block_type": "heading", + "char_count": 35, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 476, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "819b8a3164b9aafdc7448f19a464db80470252654b0c95486c70f9d8be341229", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", + "table": null, + "text": "AnchorReport of the Audit Committee" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b477", + "block_sequence": 477, + "block_sha256": "5ec00be56fabc31d176608cf0569f942db9d6d9a8ee574693496be4de4ecb59a", + "block_type": "paragraph", + "char_count": 1867, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 477, + "char_end": 1867, + "char_start": 0, + "fragment_sha256": "c953f28337e5262b25be62ae97d4aa521ab57c08eedb6d6959e0f80492819b03", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", + "table": null, + "text": "The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the \u201cCompany\u201d) for the fiscal year ended December 31, 2021 and has discussed these financial statements with management and the Company\u2019s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company\u2019s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (\u201cPCAOB\u201d) and the Securities and Exchange Commission. The Company\u2019s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm\u2019s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Cipora Herman (Chair) Adam Bain Pueo Keffer" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b478", + "block_sequence": 478, + "block_sha256": "7095d52690bab574690d4acf3d7159782252185e41f2d382a01acaf2976c40d0", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 478, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "05a43f15d060da186355c530701f5bc834e6253573365d1fa2d9b403956c8047", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", + "table": null, + "text": "Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 47" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b479", + "block_sequence": 479, + "block_sha256": "e17d1b687c4b0b1b603ab8912d0607642fc6071cfe1559ffa7faeba677cbc2ad", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 479, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "c5f0b83a5cb6434b396430defb1e886b5afaaa6f375b445552692bd7a2cf53aa", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", + "table": null, + "text": "End Page 51" + }, + { + "block_id": 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"16e0075bfce166df81d351c7acd611a13d3a09a4a0e55883afbf64ced8249f78", + "block_type": "paragraph", + "char_count": 1900, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 483, + "char_end": 1900, + "char_start": 0, + "fragment_sha256": "15e93acb193c64190285141b4d24ca560c8e868f0a47085222a44fb3a8d72826", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", + "table": null, + "text": "AnchorPROPOSAL THREE \u2014 APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS Background As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a \u201cSay-on-Pay Vote\u201d, gives our stockholders the opportunity to express their views on our named executive officers' compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the \u201cExecutive Compensation\u201d section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. The next Say-on-Pay Vote will occur at the 2023 annual meeting of stockholders. Accordingly, we ask our stockholders to vote \u201cFOR\u201d the following resolution at the Annual Meeting: \u201cRESOLVED, that the stockholders of Opendoor Technologies Inc. approve, on an advisory (non-binding) basis, the 2021 compensation of Opendoor Technologies Inc.'s named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.'s proxy statement for the Annual Meeting of Stockholders.\u201d" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b484", + "block_sequence": 484, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 5, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 484, + "char_end": 20, + "char_start": 0, + "fragment_sha256": 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"heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "Our Board unanimously recommends a vote \u201cFOR\u201d the resolution to approve, on an advisory (non-binding) basis, the 2021 compensation of our named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.'s proxy statement for the Annual Meeting of Stockholders." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b486", + "block_sequence": 486, + "block_sha256": "91cdaaff363adb6a99cee5dec38e8842d1c2b02ad99089e27c74cc3a336e8d43", + "block_type": "paragraph", + 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"heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "AnchorADDITIONAL INFORMATION Stockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2023 annual meeting of stockholders pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 9, 2022. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Vanessa Gage. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2023 annual meeting of stockholders, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than February 24, 2023 and not before January 25, 2023. The next Say-on-Pay Vote will occur at the 2023 annual meeting of stockholders. However, if the 2023 annual meeting of stockholders is more than 30 days earlier, or more than 60 days later, than the first anniversary of the Annual Meeting, notice must be so delivered or received no earlier than the 120th day prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting and the 10th day following the date on which public disclosure of the date of such annual meeting was made. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2023 annual meeting of stockholders. Householding of Annual Meeting Materials Under the rules adopted by the SEC, we may deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as \u201chouseholding\u201d and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of the proxy statement or annual report, contact Broadridge Financial Solutions, Inc. by calling 1-866-540-7095 or in writing at 51 Mercedes Way, Edgewood, New York 11717, Attention: Householding Department. In addition, if you currently are a stockholder who shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household, you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address. Other Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. Solicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. In addition to the use of the mails, proxies may be solicited by telephone and email by directors, officers and other employees of Opendoor who will not be specially compensated for these services. We will also request that brokers, nominees, custodians and other fiduciaries forward soliciting materials to the beneficial owners of shares held of record by such brokers, nominees, custodians and other fiduciaries. We will reimburse such persons for their reasonable expenses in connection therewith. Opendoor Technologies Inc. // 2022 Proxy Statement \u200b \u200b 49" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b492", + "block_sequence": 492, + "block_sha256": "95f9a01f803c4bf2db86ff1733bf6c98be27fcac52c612f668c2e2914294930e", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 492, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "8c0b3210176dae5885d544defa84c45030c48b565acc5dd086127c8d93b8a31d", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "End Page 53" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b493", + "block_sequence": 493, + "block_sha256": "ef73b8d9a8306eea6e4f6f7f98c1ff7a8315711c942bd50d1d05026fe748cc75", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 493, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "e2b836ce2b244cdba8f27ffff63a5824804c2b29a421adc7209fba7cada258f6", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "Begin Page 54" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b494", + "block_sequence": 494, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 494, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "78b5f1fab7f2d4c26872cbeb8e3a123f85185652ee9c090e7d6336d89a673bfe", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b495", + "block_sequence": 495, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 495, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b496", + "block_sequence": 496, + "block_sha256": "ed068bbe65ebf27cec73ab2fd027843017b49e423d1961e5cf5c4501460e00c6", + "block_type": "paragraph", + "char_count": 645, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 496, + "char_end": 645, + "char_start": 0, + "fragment_sha256": "9810ee03660a21e09992e1c562b9aa0d71b77798670a4297942069a607a8dfa4", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "We have also engaged MacKenzie Partners to assist in the solicitation of proxies and provide related advice and informational support for a services fee and the reimbursement of customary disbursements that are not expected to exceed $15,000 in the aggregate. Any stockholder needing assistance in voting their shares should contact MacKenzie Partners, Inc. at (800) 322-2885 (Toll Free) or via email at proxy@mackenziepartners.com. Certain information contained in this proxy statement relating to the occupations and security holdings of our directors and officers is based upon information received from the individual directors and officers." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b497", + "block_sequence": 497, + "block_sha256": "6551cfcb1fb6ef744da5c91bbdc61f33856f91dc86e6466ef7045cd209162a12", + "block_type": "paragraph", + "char_count": 501, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 497, + "char_end": 501, + "char_start": 0, + "fragment_sha256": "e9cd2524de16501aef8075bba67f8f57da4a0d4fd9df18b4e59af007bb468e7e", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "WE WILL FURNISH, WITHOUT CHARGE, A COPY OF OUR ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2021, INCLUDING CONSOLIDATED FINANCIAL STATEMENTS BUT NOT INCLUDING EXHIBITS, TO EACH OF OUR STOCKHOLDERS OF RECORD AS OF MARCH 29, 2022, AND TO EACH BENEFICIAL STOCKHOLDER AS OF THAT DATE UPON WRITTEN REQUEST MADE TO VANESSA GAGE, SECRETARY, OPENDOOR TECHNOLOGIES INC., 410 N. SCOTTSDALE ROAD, SUITE 1600, TEMPE, ARIZONA 85281. A REASONABLE FEE WILL BE CHARGED FOR COPIES OF REQUESTED EXHIBITS." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b498", + "block_sequence": 498, + "block_sha256": "c1d7ae6b6dca629564e0358de160f31612345a57c1971e753b0ce182b59bd6f5", + "block_type": "paragraph", + "char_count": 462, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 498, + "char_end": 462, + "char_start": 0, + "fragment_sha256": "ddd9116e69dcd8464484087f881e370240af21ccf924129795050eb25a888e7c", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", + "table": null, + "text": "WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING ELECTRONICALLY, WE URGE YOU TO VOTE YOUR SHARES VIA THE TOLL-FREE TELEPHONE NUMBER OR OVER THE INTERNET, AS DESCRIBED IN THIS PROXY STATEMENT. IF YOU RECEIVED A COPY OF THE PROXY CARD BY MAIL, YOU MAY SIGN, DATE AND MAIL THE PROXY CARD IN THE ENCLOSED RETURN ENVELOPE. PROMPTLY VOTING YOUR SHARES WILL ENSURE THE PRESENCE OF A QUORUM AT THE ANNUAL MEETING AND WILL SAVE US THE EXPENSE OF FURTHER SOLICITATION." + }, + { + "block_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b499", + "block_sequence": 499, + "block_sha256": "d1f3af219ec18208f964cadd9902e70ce24dafc56e538b20e22c902389844964", + "block_type": "paragraph", + "char_count": 35, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", + "block_sequence": 499, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "35678aa2ce7d4ccfbcc98a22af6a81c0c639e432ae309cdc571a7b0835fb4ff7", + "heading_path": [ + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", + "Delinquent Section 16(a) Reports", + "Board Recommendation", + "Principal Accountant Fees and Services", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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To ensure that a quorum is present at the Annual Meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the Annual Meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the Annual Meeting, you will be able to vote electronically, even if you have previously submitted your proxy.\n\nTo Our Stockholders: NOTICE IS HEREBY GIVEN that the 2022 Annual Meeting of Stockholders of Opendoor Technologies Inc. (the “Annual Meeting”) will be held on Wednesday, May 25, 2022, at 9:30 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2022 and entering your control number included in your Notice of Internet Availability of Proxy Materials, proxy card or the instructions that accompanied your proxy materials. At the Annual Meeting, stockholders will consider and vote on the following matters:\n\nThe stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment thereof. Stockholders of record at the close of business on Tuesday, March 29, 2022, are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of such stockholders will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the meeting by sending an email to Vanessa Gage, Secretary, at investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will be available to stockholders during the meeting at www.virtualshareholdermeeting.com/OPEN2022. 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|\n| Corporate Governance | ​ | ​ | 13 |\n| Executive Compensation | ​ | ​ | 20 |\n| Security Ownership of Certain Beneficial Owners and Management | ​ | ​ | 43 |\n| Certain Relationships and Related Person Transactions | ​ | ​ | 45 |\n| Proposal Two – Ratification of Appointment of Independent Registered Public Accounting Firm | ​ | ​ | 46 |\n| Proposal Three – Approval, on an Advisory (Non-Binding) Basis, of the Compensation of Our Named Executive Officers (“Say-on-Pay Vote”) | ​ | ​ | 48 |\n| Additional Information | ​ | ​ | 49 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b52", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b54"], "char_count": 18, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c9b6db8cdd0af73a47ca52921534d1e33fbc4a8c6b27ae0d54b7df7c543f5b40", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": 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"report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s27", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Opendoor engages with investors and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to investors. As we continue to grow as a public company, we will engage with our stockholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with investors to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance and business practices and public disclosures.\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 3\n\nEnd Page 7\n\nAnchor\n\nBusiness Combination Opendoor was formed through a business combination with Social Capital Hedosophia Holdings Corp. II (“SCH”), a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Business Combination, pursuant to which Opendoor Labs Inc. became a wholly owned subsidiary of SCH and SCH changed its name from “Social Capital Hedosophia Holdings Corp. II” to “Opendoor Technologies Inc.,” was completed on December 18, 2020. In this proxy statement, unless the context requires otherwise, references to “Opendoor,” the “Company,” “we,” “us” and “our,” and similar references, refer to Opendoor Technologies Inc. and its wholly owned subsidiaries following the Business Combination. 4 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b95", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b97"], "char_count": 18, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "af40a9351b96307e53c2959170eeee805eb61f94204fa8778ac5db318a4476c0", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorPROXY STATEMENT SUMMARY", "Proposals", "Directors", "Director Highlights", "Investor Engagement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 95, "char_end": 10, "char_start": 0, "fragment_sha256": "8ac56990ffe322aa1e667adb71aa1cd08fd017b973cdebf96ba5511650727fbe", "heading_path": ["AnchorPROXY STATEMENT SUMMARY", "Proposals", "Directors", "Director Highlights", "Investor Engagement"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 97, "char_end": 6, "char_start": 0, "fragment_sha256": "6bc0a46ec2af11fd80f634b87f07dd56bbe8fbdbae09d803a59f440cfcadc7ea", "heading_path": ["AnchorPROXY STATEMENT SUMMARY", "Proposals", "Directors", "Director Highlights", "Investor Engagement"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p25", "passage_kind": "narrative", "passage_sequence": 25, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s27", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 8\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b107"], "char_count": 1452, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "87819c4ffbe25c0d92b064a405450e1db79ee8c61daa593ff8fdbd94f1553d5a", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 107, "char_end": 1452, "char_start": 0, "fragment_sha256": "cf64c00b0e7feca6256399b37d1c9bd7156be0e6d53c687aa71f15cebab9c925", "heading_path": ["AND THE ANNUAL MEETING"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p26", "passage_kind": "narrative", "passage_sequence": 26, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s35", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "This proxy statement is being furnished in connection with the solicitation of proxies by the Board of Directors (the “Board”) of Opendoor Technologies Inc. (the “Company”, “Opendoor”, “we” or “us”) for use at the Company's 2022 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on Wednesday, May 25, 2022, at 9:30 a.m. Pacific Time, and at any postponement, continuation or adjournment thereof. Due to the ongoing public health impact of the COVID-19 pandemic, and to support the health and well-being of our stockholders, this year's Annual Meeting will be held in a virtual meeting format only. To participate in our virtual Annual Meeting, including to vote, ask questions and view the list of registered stockholders as of the Record Date during the meeting, visit www.virtualshareholdermeeting.com/OPEN2022 with your 16-digit control number included in the Internet Notice, proxy card or the instructions that accompanied your proxy materials. If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You may be required to provide a legal proxy from your bank or broker. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting, but will not be able to vote your shares. Instructions on how to connect and participate via the Internet are posted at www.virtualshareholdermeeting.com/OPEN2022."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b112", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b113", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b114", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b116", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b118"], "char_count": 2035, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9908d969d8f378c24f4052d9d0e0f2df36a601bc035e1ae5e779c0ab8322ccda", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s39", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Holders of record of our common stock at the close of business on Tuesday, March 29, 2022 (the “Record Date”) will be entitled to notice of, and such stockholders and holders of a valid proxy will be entitled to vote at, the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. On that date, 623,394,756 shares of our common stock were issued and outstanding and entitled to vote at the Annual Meeting. Each share of common stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. Notice of Internet Availability of Proxy Materials. As permitted by the Securities and Exchange Commission (the “SEC”) rules, Opendoor is making this proxy statement and its 2021 Annual Report available to its stockholders electronically via the Internet. On or about April 8, 2022, we mailed to our stockholders a Notice of Internet Availability of Proxy Materials (the “Internet Notice”) containing instructions on how to access this proxy statement and our 2021 Annual Report and vote online. If you received an Internet Notice by mail, you will not receive a printed copy of the proxy materials in the mail unless you specifically request them. Instead, the Internet Notice instructs you on how to access and review all of the important\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 5\n\nEnd Page 9\n\nAnchor\n\ninformation contained in the proxy statement and 2021 Annual Report. The Internet Notice also instructs you on how you may submit your proxy over the Internet. If you received an Internet Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials contained on the Internet Notice. Printed Copies of Our Proxy Materials. If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b120", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b122"], "char_count": 717, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "aabbd73b2f7557485cb96dc4201a2c6a79c59651b97daa6874a7d3cfc86d08e5", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Voting Your Shares"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 120, "char_end": 218, "char_start": 0, "fragment_sha256": "4183870c282a5ff573c443a51ac4a124d558e4687ef792276e90a94de8dea3c9", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Voting Your Shares"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 122, "char_end": 497, "char_start": 0, "fragment_sha256": "6b7f1276dab704d8d1fa23b1cf4d7cbf49990bbeffaeb98fc2d8b7350918d1f7", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Voting Your Shares"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p28", "passage_kind": "narrative", "passage_sequence": 28, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s40", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "If you are the record holder of your shares, you may vote in one of four ways. You may vote by submitting your proxy over the Internet, by telephone or by mail, or you may vote electronically during the Annual Meeting.\n\nInternet and telephone voting facilities for stockholders of record will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on May 24, 2022. We encourage stockholders to submit their proxy via telephone or online. If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in “street name”), you should contact your bank or broker to obtain your control number or otherwise vote through the bank or broker."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b124"], "char_count": 1072, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "21f26c5a16ad0d17ae2ca37a57583da74a259839adb4789f305eefa310c1b3f8", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Attending the Annual Meeting Online"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 124, "char_end": 1072, "char_start": 0, "fragment_sha256": "5532786da6a3ca690c24dd723747ffce4b52ffcd64c9a5bfb55583f47ed48469", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Attending the Annual Meeting Online"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p29", "passage_kind": "narrative", "passage_sequence": 29, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s41", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "To participate in our virtual Annual Meeting, including to vote, ask questions and view the list of registered stockholders as of the Record Date during the meeting, visit www.virtualshareholdermeeting.com/OPEN2022 with your 16-digit control number included in the Internet Notice, proxy card or the instructions that accompanied your proxy materials. If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You may be required to provide a legal proxy from your bank or broker. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting, but will not be able to vote your shares. Instructions on how to connect and participate via the Internet are posted at www.virtualshareholdermeeting.com/OPEN2022. Even if you plan to attend the live audio webcast of the Annual Meeting, we encourage you to vote in advance by Internet, telephone or mail so that your vote will be counted even if you later decide not to attend the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b126", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b127", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b128", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b130"], "char_count": 623, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "08c635ebf64154bbce6526ff6f3b0e2b3f644f8dd0a06cb43eb928bf7ea327d5", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Technical Difficulties"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 126, "char_end": 544, "char_start": 0, "fragment_sha256": "860743fa08556a701c5535bf05164e6a584d8e1eeb3fa55c562669710992a9d9", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Technical Difficulties"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 127, "char_end": 56, "char_start": 0, "fragment_sha256": "91cd0c6f8b9ed9960968fa988577494abd88319d317bcb975f563f7bfcd7de2e", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Technical Difficulties"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 128, "char_end": 11, "char_start": 0, "fragment_sha256": "89b951b58a60dbf0ac981f8b7146a4d4eddc669053c6dde85f3d9b1638218e37", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Technical Difficulties"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 130, "char_end": 6, "char_start": 0, "fragment_sha256": "42bf79036ca4dfbe354f443cc082f6d9212caf071159165a69339042fffde172", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Technical Difficulties"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p30", "passage_kind": "narrative", "passage_sequence": 30, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s42", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We will have technicians ready to assist you with any technical difficulties you may have when accessing the Annual Meeting live audio webcast. Please be sure to check in by 9:00 a.m. Pacific Time on May 25, 2022, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please call the phone number listed at www.virtualshareholdermeeting.com/OPEN2022.\n\n6 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 10\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b133"], "char_count": 1600, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cee08de92b0a098c2dd170e62f8ba2102d7933910dc1f2c8ff7000a0469978c0", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Questions and Answers during the Annual Meeting"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 133, "char_end": 1600, "char_start": 0, "fragment_sha256": "7ee3976b67e19eea719064e165716d01478e15dddcc240e634ddec699053fe6a", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Questions and Answers during the Annual Meeting"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p31", "passage_kind": "narrative", "passage_sequence": 31, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s43", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer questions submitted online during the meeting that are pertinent to the Company and the meeting matters, as time permits. Only stockholders that have accessed the Annual Meeting as a stockholder by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things: • irrelevant to the business of the Company or to the business of the Annual Meeting; • related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; • related to any pending, threatened or ongoing litigation; • related to personal grievances; • derogatory references to individuals; • substantially repetitious of questions already made by another stockholder; • in excess of the two-question limit; • in furtherance of the stockholder's personal or business interests; or • out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the chair of the Annual Meeting or Secretary in their reasonable judgment. Additional information regarding the Q&A session will be available in the “Rules of Conduct” posted at www.virtualshareholdermeeting.com/OPEN2022 for stockholders that have accessed the Annual Meeting as a stockholder (rather than a “Guest”) by following the procedures outlined above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b135"], "char_count": 491, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cf9880d82279055fdb97d9fc0547f7196878c3b52ad71fa1b50c9a5c9e79a72f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Recommendations of the Board"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 135, "char_end": 491, "char_start": 0, "fragment_sha256": "25c25aedc31741d7a65065537db5572f15649e6703260e9e6ebca82ef5b314a3", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Recommendations of the Board"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p32", "passage_kind": "narrative", "passage_sequence": 32, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s44", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "At the Annual Meeting, our stockholders will be asked to vote on the proposals set forth below. The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or over the Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted in accordance with the Board's recommendations as follows:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b138", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b139", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b140", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b142", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b144"], "char_count": 1192, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c5987a0018c0b3631183a504db52f8245440390f42b8cb3f475c348836391586", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": 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"Broker Non-Votes"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 139, "char_end": 56, "char_start": 0, "fragment_sha256": "e2f626a4ed54ede356a0262b99e77f65363d05010f8f6b91823c330fc600aa5e", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Broker Non-Votes"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 140, "char_end": 11, "char_start": 0, "fragment_sha256": "df3107cc20c7cb6a9736100be049ec798fede86129de90f3787d9c1562056fd2", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy 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"block_sequence": 144, "char_end": 357, "char_start": 0, "fragment_sha256": "d984283cf18cb65412dc4f8f37b475a411f61277b5ca1b8701d32e5fd755aecb", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Broker Non-Votes"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p33", "passage_kind": "narrative", "passage_sequence": 33, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s45", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. You should direct your broker how to vote the shares held in your account. Under applicable stock exchange rules, if you do not instruct your broker on how to vote your shares, your broker will be able to vote your shares with respect to certain “routine” matters but will not be allowed to vote your shares with respect to certain “non-routine” matters. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. Each other proposal\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 7\n\nEnd Page 11\n\nAnchor\n\nto be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in “street name” for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b146"], "char_count": 1202, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "840237164d9bd78bb45b132783943ada68843e6575033445588ffe18a4c41d41", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Revoking Your Proxy or Changing Your Vote"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 146, "char_end": 1202, "char_start": 0, "fragment_sha256": "8c029804263fb8496ca4ce622c6c70f97e42f41bff92597ab8fee7a9fc9dd4ba", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Revoking Your Proxy or Changing Your Vote"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s46", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Voting over the Internet or by telephone or execution of a proxy will not in any way affect a stockholder's right to attend the Annual Meeting and vote electronically. A proxy may be revoked before it is used to cast a vote at the Annual Meeting. If the shares you own are held in your name, you can revoke a proxy by doing one of the following: • filing with our Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; • duly executing a later-dated proxy relating to the same shares and delivering it to our Secretary before the taking of the vote; or • attending the Annual Meeting and voting electronically. However, your attendance at the Annual Meeting will not automatically revoke your proxy unless you vote again at the Annual Meeting. Any written notice of revocation or subsequent proxy should be sent to us at the following address: Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Vanessa Gage, Secretary. If the shares you own are held in street name, you will need to follow the directions provided to you by your bank or brokerage firm to change your vote."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b148"], "char_count": 652, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c61284b1d89b260b24956a34e4ba50750b4c6a35aa8c47f6ee2dc56870457bb3", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 148, "char_end": 652, "char_start": 0, "fragment_sha256": "eeb428c85f76a0cf8a0ae3b446da2024be8b242d14f0728caae6bd299b5262cb", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p35", "passage_kind": "narrative", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The presence electronically or representation by proxy of a majority in voting power of the shares of common stock of the Company entitled to vote at the Annual Meeting is necessary to establish a quorum. Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained. The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of votes withheld, abstentions and broker non-votes."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b149"], "char_count": 1049, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "31e666f83afec870d49d860bf2de64963905ba80018439d3494770f67591fb7c", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 149, "char_end": 966, "char_start": 0, "fragment_sha256": "195f08e7aa4847ec8c153b9bcb4a3ad1fe05a422b83e58ae5478ebb775406849", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "table_index": 6, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p36", "passage_kind": "table", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b149", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Proposal | ​ | ​ | Votes Required | ​ | ​ | Effect of Votes Withheld/Abstentions and Broker Non-Votes |\n| Proposal 1: Election of Directors | ​ | ​ | The plurality of the votes cast. This means that the three nominees receiving the highest number of affirmative FOR votes will be elected as Class II Directors. | ​ | ​ | Votes withheld and broker non-votes will have no effect. |\n| Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm | ​ | ​ | The affirmative vote of the holders of a majority in voting power of the votes cast. | ​ | ​ | Abstentions and broker non-votes will have no effect. We do not expect any broker non-votes on this proposal. |\n| Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (“Say-on-Pay Vote”) | ​ | ​ | The affirmative vote of the holders of a majority in voting power of the votes cast. | ​ | ​ | Abstentions and broker non-votes will have no effect. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b150", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b151", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b152", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b154"], "char_count": 403, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "354c87eab87845a324568d80e28ab78f3fd20b2c43c394f14fbb3f59261d2ad5", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 150, "char_end": 324, "char_start": 0, "fragment_sha256": "4aef8d850ece9112ddd0afa4f90531a5be5d302b322f7a559ac70cff8481f16e", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 151, "char_end": 56, "char_start": 0, "fragment_sha256": "44ccba5c77d3ddee56e72fbf1db2281f5ff4062f40e284a0ffc42fdd164e36ba", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 152, "char_end": 11, "char_start": 0, "fragment_sha256": "377b179cc6045b9a102494571725401a39f4dada550b0395d059561f0956f20c", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 154, "char_end": 6, "char_start": 0, "fragment_sha256": "30e56e4d8f90856ee2ece2e555d8cb7466ee48793cae7567a5d58686b0d4144b", "heading_path": ["AND THE ANNUAL MEETING", "Important Notice Regarding the Availability of Proxy Materials for the Annual", "Meeting of Stockholders to Be Held on May 25, 2022:", "This proxy statement and our 2021 Annual Report are available for viewing, printing and downloading at www.virtualshareholdermeeting.com/OPEN2022.", "Quorum and Votes Required"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s47", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The votes will be counted, tabulated and certified by Broadridge Financial Solutions, Inc. for the Annual Meeting. We plan to announce preliminary voting results at the Annual Meeting and we will report the final results in a Current Report on Form 8-K, which we intend to file with the SEC shortly after the Annual Meeting.\n\n8 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 12\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b157"], "char_count": 444, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8aea39ec37529238bab96fe16ee5a5d2775865f7ab8a735187425d4c043fdb46", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 157, "char_end": 444, "char_start": 0, "fragment_sha256": "996078e8994044fc2c868560a46f27e65ff491a9281330d0aa79af256ec8f629", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Board has nominated Adam Bain, Pueo Keffer and John Rice as Class II director nominees for election at the Annual Meeting. Our Board is currently comprised of eight directors. As described in our Certificate of Incorporation, our Board is currently divided into three classes. The following table describes the schedule for the election of our directors over the next three annual meetings and the terms our directors will serve if elected."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b158"], "char_count": 447, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a25084174dfc56de7b7c7546cd8cc19b88028b7ee420c9c6225a2edb01625fa1", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 158, "char_end": 364, "char_start": 0, "fragment_sha256": "30937df5ece28d2ed986990696edc81572bb3dd549baa8ed4bf6d061fbc07dc1", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS"], "table_index": 7, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p39", "passage_kind": "table", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b158", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Meeting | ​ | ​ | Class of Directors Standing for Election | ​ | ​ | Term |\n| 2022 Annual Meeting | ​ | ​ | Class II | ​ | ​ | Three-year term expiring at 2025 Annual Meeting |\n| 2023 Annual Meeting | ​ | ​ | Class III | ​ | ​ | Three-year term expiring at 2026 Annual Meeting |\n| 2024 Annual Meeting | ​ | ​ | Class I | ​ | ​ | Three-year term expiring at 2027 Annual Meeting |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b159"], "char_count": 680, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3d88b6cf1762b38b47c106cd7acc38af9eef50efc086d56d65c6a83ec15b011a", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 159, "char_end": 680, "char_start": 0, "fragment_sha256": "10bf85b2675c93e3bc23fb0c1eb91d380136fd5bbbb8b2244740f1ceeed2a341", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p40", "passage_kind": "narrative", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "If you return a duly executed proxy card without specifying how your shares are to be voted, the persons named in the proxy card will vote to elect Adam Bain, Pueo Keffer and John Rice as Class II directors. Adam Bain, Pueo Keffer and John Rice currently serve on our Board and have indicated their willingness to continue to serve if elected. However, if any director nominee should be unable to serve, or for good cause will not serve, the shares of common stock represented by proxies may be voted for a substitute nominee designated by our Board, or our Board may reduce its size. Our Board has no reason to believe that any of the nominees will be unable to serve if elected."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b161"], "char_count": 781, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b874333e7bc687ed05bb93ff2447b3b2cc1c8f166e41ef434499f759ec2f9d06", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS", "Our Board of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 161, "char_end": 781, "char_start": 0, "fragment_sha256": "80d5230aed262ad09e9c232222d080a1edbdcfa94fc07d48540eaae51cdde308", "heading_path": ["AnchorPROPOSAL ONE — ELECTION OF DIRECTORS", "Our Board of Directors"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s49", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The biographies of each of our current directors, including our Class II director nominees, are included below. Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. No arrangements or understandings exist between any director and any other person pursuant to which such person was selected as a director or nominee."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b163", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b164", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b165", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b167"], "char_count": 215, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c8ec5cc0c5b4a1d0c955c90f8204334c65b46c41633587f617855fc940d6fe0d", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s50", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Our Board unanimously recommends that you vote “FOR” the election of each of Adam Bain, Pueo Keffer and John Rice as Class II directors.\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 9\n\nEnd Page 13\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b171"], "char_count": 3953, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6e1eef5512b46e1f625587ddd15b69c11fc3822da2b94a76eec802267e0af585", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["DIRECTOR BIOGRAPHIES", "Class II director nominees to be elected at the 2022 Annual Meeting (subsequent terms to expire in 2025)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 171, "char_end": 3953, "char_start": 0, "fragment_sha256": "29f782e00d385e7e9c236f15e4797ce2d071ab22866952b905e42f1b4cb42194", "heading_path": ["DIRECTOR BIOGRAPHIES", "Class II director nominees to be elected at the 2022 Annual Meeting (subsequent terms to expire in 2025)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s52", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "ADAM BAIN Director Since: 2020 Age: 48 Committee Memberships: • Audit • Compensation ​ ​ Adam Bain has served on our board of directors since December 2020 and previously served as a member of SCH’s board of directors until December 2020. Mr. Bain is a co-managing partner of 01 Advisors, a venture capital firm targeting high-growth technology companies that are making the transition from building a product to building a company, since co-founding the firm in January 2018. Mr. Bain served as a director of IPOA from September 2017 until the consummation of its business combination with Virgin Galactic in October 2019, and continues to serve as a member of Virgin Galactic’s board of directors, where he serves as chair of the nominating and corporate governance committee and a member of the compensation committee. Since November 2016, Mr. Bain has also been an independent advisor and investor in select growth-stage companies. Previously, Mr. Bain was the Chief Operating Officer of Twitter from September 2015 until November 2016, and President of Global Revenue & Partnerships from 2010 to September 2015, where he was responsible for the business lines at the public company. Mr. Bain earned his Bachelor of Arts in English Journalism from Miami University, in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve as a member of our board of directors because of his significant operating and technology experience and financial experience. ​ PUEO KEFFER Director Since: 2020 Age: 40 Committee Memberships: • Audit ​ ​ Pueo Keffer has served on our board of directors since December 2020 and previously served as a member of Opendoor Labs Inc.’s board of directors from October 2015 until December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, since April 2015. From 2009 to April 2015, Mr. Keffer was employed by Redpoint Ventures, most recently as a Partner. Since June 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a cloud computing platform company. He currently serves on the board of directors of a privately held company. Mr. Keffer holds a B.A. in Economics from Stanford University. Skills and Qualifications: We believe that Mr. Keffer is qualified to serve as a member of our board of directors because of his extensive experience advising technology companies as a venture capital investor and director of various companies and his financial experience. ​ JOHN RICE Director Since: 2021 Age: 55 Committee Memberships: • Nominating and Corporate Governance ​ ​ John Rice has served on our board of directors since March 2021. Mr. Rice is the founder and Chief Executive Officer of Management Leadership for Tomorrow (“MLT”), a national non-profit organization founded in 2001 that fights racial and economic disparities by empowering a new generation of diverse leaders. Prior to MLT, Mr. Rice was an executive with the National Basketball Association from 1996 to 2000, where he served as managing director of NBA Japan and as director of marketing for Latin America, and with the Walt Disney Company in new business development and marketing. Mr. Rice has served as a member of the board of directors of Walker & Dunlop, a publicly-traded real estate finance company, since 2010, where he also serves as chair of the nominating and corporate governance committee and as a member of the compensation committee. He is also a member of the board of directors of Alpha Partners Technology Merger Corp., a publicly traded special purpose acquisition company formed in 2021. Mr. Rice also serves on the board of directors of a privately held diversified real estate fund and is a member of the Yale University board of trustees. Mr. Rice received a B.A. from Yale University and an M.B.A. from Harvard Business School. 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "10 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 14\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b178"], "char_count": 2504, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e46a14c6e73fbce06166f323862bad966d3e39c14b66b1b27deb477b49e7079f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["DIRECTOR BIOGRAPHIES", "Class II director nominees to be elected at the 2022 Annual Meeting (subsequent terms to expire in 2025)", "Class III directors (terms to expire in 2023)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 178, "char_end": 2504, "char_start": 0, "fragment_sha256": "33eb28edf416b8d352c3e7a868ef3e602b4deb27b71ba10433c4fb6844071904", "heading_path": ["DIRECTOR BIOGRAPHIES", "Class II director nominees to be elected at the 2022 Annual Meeting (subsequent terms to expire in 2025)", "Class III directors (terms to expire in 2023)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s53", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "ERIC WU Chief Executive Officer and Chairperson of the Board Director Since: 2020 Age: 39 ​ ​ Eric Wu co-founded Opendoor and has served as our Chief Executive Officer and as Chairman of our board of directors since December 2020. Mr. Wu also served as Opendoor Labs Inc.’s Chief Executive Officer and as a member of Opendoor Labs Inc.'s board of directors from April 2014 to December 2020. Prior to Opendoor Labs Inc., Mr. Wu founded and served as the Chief Executive Officer of Movity.com, a geo-data analytics company acquired by Trulia in 2011. Mr. Wu previously co-founded RentAdvisor.com, an apartment search company specializing in lead generation, which was later acquired by Apartment List. Mr. Wu holds a B.S. in Economics from University of Arizona. Skills and Qualifications: We believe that Mr. Wu is qualified to serve as a member of our board of directors due to the perspective and experience he brings as our Chief Executive Officer and as a co-founder and his extensive experience in real estate and technology and managing companies. ​ JASON KILAR Director Since: 2020 Age: 50 Committee Memberships: • Nominating and Corporate Governance (CHAIR) ​ ​ Jason Kilar has served on our board of directors since December 2020 and also served as a member of Opendoor Labs Inc.’s board of directors from March 2019 until December 2020. Mr. Kilar has served as the Chief Executive Officer of Warner Media, LLC, a media and entertainment company, since May 2020. Mr. Kilar previously co-founded and served as the Chief Executive Officer of Vessel Group, Inc., a video platform company. Prior to Vessel, Mr. Kilar co-founded and served as the Chief Executive Officer of Hulu, LLC, a streaming service company. Mr. Kilar previously served in a variety of senior leadership roles with Amazon.com, Inc., including as Senior Vice President, Worldwide Application Software, and Vice President and General Manager of Amazon’s North American media businesses. Mr. Kilar holds a B.A. in Journalism and Business Administration from University of North Carolina at Chapel Hill and an M.B.A. from Harvard Business School. Skills and Qualifications: We believe that Mr. Kilar is qualified to serve as a member of our board of directors because of his deep expertise in operations as a Chief Executive Officer and seasoned board member, and his extensive experience with technology, high-growth, consumer and digital companies, as highlighted by his experience at Amazon, Hulu, Vessel Group and Warner Media. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b179", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b180", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b182"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "491f6107c3f44f976b06d7f254f21fd9131e390f870ccf93474e1d96e0ac2608", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": 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"parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s54", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "CIPORA HERMAN Director Since: 2020 Age: 48 Committee Memberships: • Audit (CHAIR) ​ ​ Cipora Herman has served on our board of directors since December 2020 and previously served as a member of SCH’s board of directors until December 2020. Since January 2021, Ms. Herman has served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028. Ms. Herman has served on the board of directors of ZipRecruiter since October 2018, where she is chair of the audit committee and a member of the compensation committee. Ms. Herman also previously served on the board of directors of Mindbody, Inc., a software-as-a-service company, from October 2016 to February 2019, and Memery, Inc., a technology startup, from April 2015 to January 2021. From February 2017 until June 2018, Ms. Herman served as Chief Financial Officer of Mori, Inc., a social e-reader platform. From October 2012 to April 2016, Ms. Herman served as the Chief Financial Officer of the National Football League’s San Francisco 49ers, a professional sports team. From 2007 to 2012, Ms. Herman served as the Vice President & Treasurer of Facebook, Inc., a social media company. Ms. Herman holds an A.B. in International Relations, an M.A. in International Development Policy and an M.B.A, each received from Stanford University. Skills and Qualifications: We believe that Ms. Herman is qualified to serve as a member of our board of directors because of her financial expertise and experience as a director of publicly and privately held companies. ​ JONATHAN JAFFE Director Since: 2020 Age: 62 Committee Memberships: • Nominating and Corporate Governance ​ ​ Jonathan Jaffe has served on our board of directors since December 2020 and also served as a member of Opendoor Labs Inc.’s board of directors from June 2018 until December 2020. Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation’s largest homebuilders, since November 2020. He has served as a member of the board of directors of Lennar since 2018 (and previously served as a director from 1997 to 2004). He served as Lennar’s President from April 2018 to November 2020 and as Chief Operating Officer from December 2004 to January 2019. Previously, Mr. Jaffe served as Vice President of Lennar from 1994 to April 2018, and prior to that, he served as a Regional President in Lennar’s Homebuilding operations. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe holds a B.A. in Architecture from the University of Florida. Skills and Qualifications: We believe that Mr. Jaffe is qualified to serve as a member of our board of directors because of his extensive knowledge of the housing industry and his deep operating experience. ​ GLENN SOLOMON Director Since: 2020 Age: 53 Committee Memberships: • Compensation (CHAIR) ​ ​ Glenn Solomon has served on our board of directors since December 2020 and has also served as a member of Opendoor Labs Inc.’s board of directors from February 2015 until December 2020. Since 2006, Mr. Solomon has been a managing partner of GGV Capital, a venture capital firm. He serves as a director of a number of privately held companies and previously served as a director of Domo, Inc. from August 2017 to March 2019 and currently serves as a director of Hashicorp, Inc. Mr. Solomon holds a B.A. in Public Policy from Stanford University and an M.B.A. from Stanford University. Skills and Qualifications: We believe that Mr. Solomon is qualified to serve as a member of our board of directors because of his extensive experience advising technology companies as a venture capital investor and director of various companies."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b186", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b187", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b189"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2e4419286aaf65c285dab2751dab73611c795be0a1aeeea2cc07618cbf208b66", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": 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The Board regularly reviews our governance practices to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b194"], "char_count": 957, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9300a88b264ec4427b8dd4ed7b96ef3bb30d0c9eeea6c7b37580870e15dbccb4", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 194, "char_end": 1671, "char_start": 0, "fragment_sha256": "c2a81661144a33a5f1d7f427cb165b10b9b4d32e59edcfe3640a8d19a46a3a42", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights"], "table_index": 8, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p51", "passage_kind": "table", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s56", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b194", "text": "| | | | |\n| --- | --- | --- | --- |\n| Independent Oversight | ​ | ​ | • 7 of 8 directors are independent (all except for the Chief Executive Officer) • Regular executive sessions of independent directors at Board meetings and committee meetings • Unrestricted access to… |\n| Board Effectiveness | ​ | ​ | • Directors possess deep and diverse sets of skills and expertise relevant to oversight of the Company's business operations and strategy • Annual assessment of director skills to ensure Board meets … |\n| Stockholder Rights | ​ | ​ | • One class of common stock with each share entitled to one vote • No stockholder rights plan in place • Stockholder communication process for communicating with the Board |\n| Good Governance Practices | ​ | ​ | • Code of Business Conduct applicable to directors and all employees • Insider Trading and Trading Window Policy prohibits hedging transactions, short sales, and buying or selling puts, calls, option… |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b196"], "char_count": 304, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e18889d128a3a6a17f842fa1e115857b1b401d18a30f88c3759363fff626eed1", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 196, "char_end": 304, "char_start": 0, "fragment_sha256": "5297040674dd0ad3d885af4325f94c83e1e79664d1484a6682747b75b82e5e94", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Our Board has determined that all of our non-employee directors, who are listed below, meet the applicable criteria for independence established by the Nasdaq Stock Market LLC (“Nasdaq”). Eric Wu does not qualify as independent under the Nasdaq rules due to his employment as our Chief Executive Officer."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b197"], "char_count": 235, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b7481533e81a4bf93ac4505fabe45de4de8c54453bb938ef21a78fc0e560b1e4", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 197, "char_end": 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| --- |\n| Independent Directors | | | | | | |\n| • Adam Bain • Cipora Herman | ​ | ​ | • Jonathan Jaffe • Pueo Keffer • Jason Kilar | ​ | ​ | • John Rice • Glenn Solomon |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b198", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b199", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b200", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b202"], "char_count": 332, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cc544c7a93c56b25d0b1de65711c5b566344087f2a3444b109275eecdcc14c21", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "In arriving at the foregoing independence determinations, the Board reviewed and discussed information provided by the directors with regard to each director's business and personal activities and any relationships they have with us and our management.\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 13\n\nEnd Page 17\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b204"], "char_count": 3621, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2e5089b42a3e9103ef72dfecb0957b772ba69f5bd44747cc46f0b1590167f037", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 204, "char_end": 3621, "char_start": 0, "fragment_sha256": "b67c5328cdea5a8c08f62deb10bc275cdad38edfb1a16f967f5822e57d4f0bec", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p55", "passage_kind": "narrative", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Board Leadership Structure The Board has determined that the best leadership structure for Opendoor is to combine the Chairperson of the Board and Chief Executive Officer positions, with Mr. Wu serving as Chairperson and Chief Executive Officer. Combining the roles of Chairperson and Chief Executive Officer provides unified leadership by Mr. Wu and allows for a single, clear focus for management to execute the Company's strategy and business plans. Our Board is composed of individuals with extensive experience in the technology industry, real estate industry and public company management. In addition, each of our standing Board committees is composed of, and chaired by, independent directors. For these reasons and because of the strong leadership of Mr. Wu, our Board has concluded that our current leadership structure is appropriate. There is no fixed requirement in our Corporate Governance Guidelines that our Chairperson and Chief Executive Officer positions be separate, or that our Chairperson be an employee or elected from among non-employee directors. We believe that it is in the best interests of the Company to maintain the flexibility to evaluate our leadership structure over time as part of Opendoor's ongoing succession planning process. Our Corporate Governance Guidelines provide that an independent “Lead Director” may be elected from among the independent directors when the Chairperson is not an independent director. We do not have a Lead Director. Board Meetings and Attendance Board members are expected to prepare for, attend and participate in all meetings of the Board and committees on which they serve. During 2021, the Board held eight meetings and all directors attended 75% or more of the aggregate number of Board meetings and meetings of the committees on which they then served. We do not maintain a formal policy regarding director attendance at our annual meetings; however, it is expected that directors will attend. Seven Board members attended the 2021 annual meeting. Executive Sessions of Independent Directors The Board holds executive sessions of its independent directors no less than two times per year. Director Orientation and Continuing Education The Board views orientation and continuing education as vital tools for building an effective Board. We provide all new directors with orientation sessions regarding the Board and the Company's operations. The orientation consists of presentations by members of senior management on the Company's strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and the competitive landscape. In addition, the Company will pay for certain expenses for any director who wishes to attend seminars, conferences and other continuing education programs designed for directors of public companies. Process for Board Succession Planning and Selection and Nomination of Directors As provided in our Corporate Governance Guidelines, the Board, together with the Nominating and Corporate Governance Committee, is responsible for determining the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics and the ability to read and understand basic financial statements."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b204"], "char_count": 1102, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "125fa9ec989bf885defaa8940efaea1c67f1cce5db35129d6d49b88c3871d27b", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 204, "char_end": 4723, "char_start": 3621, "fragment_sha256": "b67c5328cdea5a8c08f62deb10bc275cdad38edfb1a16f967f5822e57d4f0bec", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p56", "passage_kind": "narrative", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "In considering candidates for Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating and Corporate Governance Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating and Corporate Governance Committee will evaluate whether incumbent directors possess the requisite skills 14 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b205", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b207"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "14e859277f5c16abf263a4f1e641cc7714c49039e5ed7eedcb33e63fcad2668d", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 205, "char_end": 11, "char_start": 0, "fragment_sha256": "322f31b424246e6944dffe8546e6cdfc631cc708c8df61e0982f8e7e77f91db9", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 207, "char_end": 6, "char_start": 0, "fragment_sha256": "b57000e3e3db2d4376fc408182a8018c0f5eea6c30eb5057282b90cb717f2fbe", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p57", "passage_kind": "narrative", "passage_sequence": 57, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 18\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b209"], "char_count": 3889, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ee099472b629815481755cc1067f27103042a7a1839742b110cb96a7e915541f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 209, "char_end": 3889, "char_start": 0, "fragment_sha256": "94d292db798b70aa0c1c875a0eb1720027847a8b9e9ccfced58b938d3eb814e2", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p58", "passage_kind": "narrative", "passage_sequence": 58, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "and perspective, both individually and collectively. In addition, the Board will review those directors' overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors' independence. The Nominating and Corporate Governance Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating and Corporate Governance Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating and Corporate Governance Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating and Corporate Governance Committee reviews the backgrounds of those candidates, evaluates candidates' independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating and Corporate Governance Committee for candidates for election as a director. Consideration of Board Diversity The Company believes that a Board made up of highly qualified individuals from diverse backgrounds promotes better corporate governance and performance and effective decision-making. The Board and the Nominating and Corporate Governance Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. 38% of our directors self-identify as having diverse characteristics. Although the Board has no formal policy on diversity, it has included diversity as a factor that will be taken into consideration by the Nominating and Corporate Governance Committee and the Board when identifying director candidates and recommending or selecting nominees for election by stockholders. Stockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating and Corporate Governance Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating and Corporate Governance Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Vanessa Gage, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating and Corporate Governance Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others. Corporate Governance Documents We believe that good corporate governance is important to ensure that Opendoor is managed for the long-term benefit of our stockholders. Our Nominating and Corporate Governance Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Complete copies of our Corporate Governance Guidelines and committee charters are available on the “Corporate Governance” section of our website at investor.opendoor.com. Code of Conduct The Board has adopted a written code of business conduct and ethics (the “Code of Conduct”), which applies to all of our employees, officers and directors. Our Code of Conduct is available in the “Corporate Governance” section of our website at investor.opendoor.com."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b209"], "char_count": 729, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2eb3d7146e75146dda6f64b430bd912990dd2959e9d444555101b230547c3f5d", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 209, "char_end": 4618, "char_start": 3889, "fragment_sha256": "94d292db798b70aa0c1c875a0eb1720027847a8b9e9ccfced58b938d3eb814e2", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p59", "passage_kind": "narrative", "passage_sequence": 59, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct. Board Committees Our Board has established three standing committees — the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee — each of which operates under a charter that has been approved by our Board. Current copies of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee charters are posted on the “Corporate Governance” section of our website located at investor.opendoor.com. Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 15"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b210", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b212", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b214"], "char_count": 702, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "eeeb103394a498b24fa5496ed5af472ec54f0becc5f6fa997af6f7da2b1d78c8", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 210, "char_end": 11, "char_start": 0, "fragment_sha256": "4e9fda848889b8e79de1ef89e24d799c5f5464bc941c3ea9883cb9d6ed7e40cd", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 212, "char_end": 6, "char_start": 0, "fragment_sha256": "9c7dcbe08e22437462cc25753f173988e4c28c3eee169fd6036fc5ea18502d18", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 214, "char_end": 681, "char_start": 0, "fragment_sha256": "5d9a3428b92b7b49c6053fb3fe78499a624f9e524a3eb0ebdbb05d41a60ca980", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p60", "passage_kind": "narrative", "passage_sequence": 60, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 19\n\nAnchor\n\nDuring 2021, the Audit Committee held nine meetings, the Compensation Committee held four meetings and the Nominating and Corporate Governance Committee held four meetings. Our Board has determined that all of the members of each of its committees are independent as defined under applicable Nasdaq rules. In addition, all members of the Audit Committee meet the heightened independence requirements contemplated by Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all members of the Compensation Committee satisfy the heightened independence requirements of the Nasdaq rules specific to the independence of compensation committee members."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b215"], "char_count": 643, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "578dc846344540b77926c6597e36c070cdb3fd0e981e91e4d6fc2f2a71dd7152", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 215, "char_end": 509, "char_start": 0, "fragment_sha256": "562faf088a4251050bd676fd05124ee795967aa569e134916262e177e6a812c7", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": 10, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p61", "passage_kind": "table", "passage_sequence": 61, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b215", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | ​ | ​ | | | | | | | |\n| | ​ | ​ | Committee Membership | | | | | | |\n| Name | ​ | ​ | Audit | ​ | ​ | Compensation | ​ | ​ | Nominating and Corporate Governance |\n| Adam Bain | ​ | ​ | • | ​ | ​ | • | ​ | ​ | |\n| Cipora Herman | ​ | ​ | CHAIR + | ​ | ​ | | ​ | ​ | |\n| Jonathan Jaffe | ​ | ​ | | ​ | ​ | | ​ | ​ | • |\n| Pueo Keffer | ​ | ​ | • | ​ | ​ | | ​ | ​ | |\n| Jason Kilar | ​ | ​ | | ​ | ​ | | ​ | ​ | CHAIR |\n| John Rice | ​ | ​ | | ​ | ​ | | ​ | ​ | • |\n| Glenn Solomon | ​ | ​ | | ​ | ​ | CHAIR | ​ | ​ | |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b216"], "char_count": 2050, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fb5b304aa80577634c539c88f6d741c47d7db0f25c16ab9fa13f0abd33f08170", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 216, "char_end": 2050, "char_start": 0, "fragment_sha256": "fe04b09d26ad7b9d1980db47cea5759f6f9bf9774b06a2fbdabdfd5e773e0fd9", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p62", "passage_kind": "narrative", "passage_sequence": 62, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "CHAIR = Committee Chair + = Financial Expert • = Member Audit Committee Current Committee Members: Cipora Herman (CHAIR) Adam Bain Pueo Keffer ​ ​ Primary Responsibilities Include: • Appointing, compensating, retaining and overseeing our independent registered public accounting firm; • Evaluating the independence of our independent registered public accounting firm; • Reviewing with our independent registered public accounting firm the scope and results of their audit; • Approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm; • Overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC; • Discussing guidelines and policies governing the process by which senior management assesses and manages our exposure to risk, our major financial risk exposures and the steps we have taken to monitor and control such risks; • Reviewing and approving or ratifying related person transactions; • Reviewing the adequacy and effectiveness of the Company's accounting and internal control policies and procedures on a regular basis, including the responsibilities, budget, compensation and staffing of the Company's internal audit function; and • Establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters and the confidential anonymous submission of concerns regarding questionable accounting, internal controls or auditing matters. Financial Expertise and Independence All members of the Audit Committee meet the independence standards of Nasdaq and the SEC, as well as the financial literacy requirements of Nasdaq. The Board has determined that Ms. Herman qualifies as an “audit committee financial expert” as defined by SEC rules. 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Independence The Nominating and Corporate Governance Committee is composed entirely of directors who are independent under the Nasdaq rules. Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain ​ ​ Primary Responsibilities Include: • Evaluating the performance of our Chief Executive Officer and other executive officers in light of any goals and objectives of the Company's executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation level of the Company's executive officers; • Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; • Reviewing the executive compensation plans in light of the Company's goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and • Appointing and overseeing any compensation consultants. Independence The Compensation Committee is composed entirely of directors who are independent under Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as a non-employee director under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 24 of this proxy statement for a discussion of the role of our executive officers and compensation consultant in determining executive compensation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b223", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b224", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b226"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ba5db447e5542116fcbc0263251a60f9ed3864367aa7cef678fa7500572eb5f0", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 223, "char_end": 57, "char_start": 0, "fragment_sha256": "2933207af8b612f3acd5ff509716bbe0bba30b59905d2e8513c63a6be1b066c2", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 224, "char_end": 11, "char_start": 0, "fragment_sha256": "ab833ef0557eed881ffaf158c8a9637ffafee613bb9ad2a61e1b5920adb70495", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 226, "char_end": 6, "char_start": 0, "fragment_sha256": "307fb97b2788079ec4e4545a159d7030ce866f12f6f289b4820089b84ddf8c5a", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p64", "passage_kind": "narrative", "passage_sequence": 64, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 17\n\nEnd Page 21\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b229"], "char_count": 1896, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "864565fdf2f05555e662aa1178ab8b6051dabdc160e7ae8ac19224d4ab5677a9", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence", "The Board's Role in Risk Oversight"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 229, "char_end": 1896, "char_start": 0, "fragment_sha256": "ee2e2cd547ff823644a5377ab23ef4637fd37a2216176f50807b64ed287e9bc2", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence", "The Board's Role in Risk Oversight"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p65", "passage_kind": "narrative", "passage_sequence": 65, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s58", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Board recognizes that the achievement of our strategic and commercial objectives involves taking risks and that those risks may evolve over time. The Board has oversight responsibility for Opendoor's risk management function, which is designed to identify, assess and monitor fundamental financial and business risks across the Company's operations and consider ways to address and mitigate those risks. Consistent with this approach, one of the Board's primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company. In addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. • The Audit Committee reviews and discusses guidelines and policies governing the process by which senior management assesses and manages the Company's exposure to risk, as well as the Company's major financial risk exposures and the steps management has taken to monitor and control such exposures; • The Compensation Committee, in approving and evaluating the Company's executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company's compensation arrangements; and • The Nominating and Corporate Governance Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. Our Board does not believe that its role in the oversight of our risks affects the Board's leadership structure."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b231"], "char_count": 910, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c972d5f5eb591ba9c4579355ffe61521cc03f9a1684000e7178213f17c1794d9", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence", "The Board's Role in Risk Oversight", "Communications from Stockholders"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 231, "char_end": 910, "char_start": 0, "fragment_sha256": "74c41c9f7972033ad544c2bbc4b8a2c5722b1b2aca62a24e48f7b39f2eb5e7ab", "heading_path": ["AnchorCORPORATE GOVERNANCE", "Corporate Governance Highlights", "Director Independence", "The Board's Role in Risk Oversight", "Communications from Stockholders"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p66", "passage_kind": "narrative", "passage_sequence": 66, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and Chairperson of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Vanessa Gage, Secretary, Opendoor Technologies Inc., 410 N. 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p69", "passage_kind": "narrative", "passage_sequence": 69, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "* Mr. Wu is a member of our Board. See “Proposal One — Election of Directors” for more information about Mr. Wu. Carrie Wheeler has served as our Chief Financial Officer since December 2020. Ms. Wheeler also served as Opendoor Labs Inc.’s Chief Financial Officer since September 2020 and previously served as a member of Opendoor Labs Inc.’s board of directors from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler currently serves on the board of directors and on the audit and compensation committees of APi Group Corporation. She has previously served on a number of other corporate boards, including Dollar Tree, Neiman Marcus Group, Inc. and Petco Animal Supplies, Inc. Ms. Wheeler holds a Bachelor of Commerce from Queen’s University.\n\n18 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 22\n\nAnchor\n\nAndrew Low Ah Kee has served as our President since December 2020 and as Opendoor Labs Inc.’s President since November 2020. Mr. Low Ah Kee previously served in a range of executive positions at GoDaddy from 2014 to 2020, most recently as Chief Operating Officer. Prior to joining GoDaddy in 2014, Mr. Low Ah Kee was a Director at KKR Capstone where he worked closely with the Consumer, Technology and Media investment teams at KKR & Co. L.P. to evaluate investment opportunities and accelerate portfolio company growth. Before KKR, Mr. Low Ah Kee was a consultant with the Boston Consulting Group. Mr. Low Ah Kee holds a Bachelor of Applied Science from the University of Toronto and an MBA from Harvard Business School. Daniel Morillo has served as our Chief Investment Officer since January 2021. Prior to joining Opendoor, Mr. Morillo served as a Managing Director and Head of Quantitative Research at Citadel between September 2015 and December 2020. Mr. Morillo previously served as the Global Head of Investment Research for Incapture Investments and the co-head of BlackRock’s Model and Portfolio Solutions group. Mr. Morillo holds a B.S. degree in economics from Universidad San Fran de Quito, an M.S. degree in statistics from the University of Illinois, and a Ph.D. in econometrics from the University of Illinois. 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• Carrie Wheeler, our Chief Financial Officer (our “CFO”); • Andrew Low Ah Kee, our President; • Daniel Morillo, our Chief Investment Officer; • Ian Wong, our Chief Technology Officer; and • Elizabeth Stevens, our former Head of Legal. Due to a modification to the Company's management structure, Mr. Wong ceased serving as an executive officer of the Company on May 6, 2021. In addition, on July 27, 2021, Ms. Stevens notified us of her resignation as our Head of Legal, effective September 1, 2021."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b250"], "char_count": 525, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7bb04bf37b9b5e35da3dce3d47ffc56ee0a576fbf11eb96ea9060fd9ffaca54a", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Summary"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 250, "char_end": 525, "char_start": 0, "fragment_sha256": "6124e95e80eeaeb70f4af9c424509f1bdc62b2b0223ea6dacc2873399ba3514c", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Summary"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p72", "passage_kind": "narrative", "passage_sequence": 72, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "This Compensation Discussion and Analysis describes the material elements of our executive compensation program during 2021. It also provides an overview of our executive compensation philosophy, including our principal compensation policies and practices. Finally, it analyzes how and why the Compensation Committee of our Board arrived at the specific compensation decisions for our named executive officers in 2021 and discusses the key factors that the Compensation Committee considered in determining their compensation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b252"], "char_count": 1474, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "21d5cba76df5b11ce30c6c96397fcc69d1f61f36075471275cb6d12644054ac1", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "2021 Compensation Highlights"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 252, "char_end": 1474, "char_start": 0, "fragment_sha256": "9822100e7ccc93a3a2fe252c35db2f175379ad8be57479ceb51a22d3171fe699", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "2021 Compensation Highlights"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p73", "passage_kind": "narrative", "passage_sequence": 73, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s64", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Based on our overall operating environment and our financial and operational results, the following key actions were taken with respect to the compensation of our named executive officers for 2021: • No Base Salary Increases – The Compensation Committee maintained the annual base salaries of our named executive officers at their 2020 levels (as either established or confirmed in their employment offer letters), except in the case of Ms. Stevens, whose annual base salary was increased to $350,000 to reflect the competitive base salaries of executives holding comparable positions at the companies in our compensation peer group. • No Annual Cash Bonus Program – We did have not have an annual cash bonus program in 2021 for our named executive officers and historically have not maintained a formal annual cash bonus program for our named executive officers. For 2021, we awarded sign-on and retention bonuses to Messrs. Low Ah Kee and Morillo in the amounts described below under “Compensation Elements—Sign-On and Retention Bonuses.” • Long-Term Incentive Compensation – In line with our philosophy that our compensation program should be heavily weighted toward equity compensation, in 2021 we granted time-based restricted stock units (“TRSUs”) to Mr. Wu and Ms. Stevens and TRSUs and performance-based restricted stock units (“PRSUs”) to Mr. Low Ah Kee. These equity awards are described in detail below under “Compensation Elements—Long-Term Equity Compensation.”"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b254", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b255", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b256", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b258", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b260"], "char_count": 1184, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "78f1fe127e462a911baa8c707d0d1797499460650111e542edc2b0f6d2b95f60", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Pay-for-Performance"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 254, "char_end": 599, "char_start": 0, "fragment_sha256": "093901be2b76c0cce110785d116cec4681a9daefbcd5bb0ecaa76635cb04ea82", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Pay-for-Performance"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 255, "char_end": 57, "char_start": 0, "fragment_sha256": "2bb9ae6b6ca6b7eb657059ba9d5032bf0076fbde83bc613aa804bd88cc8e8abd", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Pay-for-Performance"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 256, "char_end": 11, "char_start": 0, "fragment_sha256": "127d421e4fa802261d12ab294c5282d40acf58a5da32e1eccfb431ab75728f29", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Pay-for-Performance"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 258, "char_end": 6, "char_start": 0, "fragment_sha256": "4a4c01ca4a16c77d2f429578f04f6efd7b33f1cae39151a0332456e97edab57b", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Pay-for-Performance"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 260, "char_end": 503, "char_start": 0, "fragment_sha256": "e82b404aa4af8654d5f5b6046b17e0ebaf58907bba608ce702703ce609f4837c", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Pay-for-Performance"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p74", "passage_kind": "narrative", "passage_sequence": 74, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s65", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We believe our executive compensation program is reasonable and competitive, and appropriately balances the goals of attracting, motivating, rewarding and retaining our executive officers, including our named executive officers, with the goal of aligning their interests with those of our stockholders. The annual compensation of our executive officers, including our named executive officers, has varied due to the Business Combination in December 2020. We also expect the annual compensation of our executive officers, including our named executive officers, to vary from year to year based on our\n\n20 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 24\n\nAnchor\n\nfinancial and operational results and individual performance. Our executive compensation program emphasizes “variable” pay over “fixed” pay. We do not determine either “variable” or “fixed” pay with reference to a specific percentage of target total direct compensation. Going forward, we intend to maintain this emphasis on “variable” over “fixed” pay as we believe this approach provides appropriate incentives for our executive officers to drive our financial performance and create long-term growth."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b262"], "char_count": 466, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6df42755161fa9792426c5007263695f2ad619f102439bf971444bcbe5448ffa", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Compensation Policies and Practices"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 262, "char_end": 466, "char_start": 0, "fragment_sha256": "12c76fc72dd2a008382b6da52ec17918640ca4a9f47c14b8299f4356dbdaddba", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Compensation Policies and Practices"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p75", "passage_kind": "narrative", "passage_sequence": 75, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We endeavor to maintain sound governance standards consistent with our executive compensation policies and practices. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. The following summarizes our executive compensation and related policies and practices:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b263"], "char_count": 499, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fabea7549e69d760f10b33bb795a859d5c63b4fb18da0e45d08cca88ed501065", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Compensation Policies and Practices"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 263, "char_end": 3961, "char_start": 0, "fragment_sha256": "154a23ec98bc191393c822d182fdd3afd5007ff2ec73610c477d329f87a25b6f", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Compensation Policies and Practices"], "table_index": 12, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p76", "passage_kind": "table", "passage_sequence": 76, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s66", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b263", "text": "| | | | |\n| --- | --- | --- | --- |\n| What We Do: | ​ | ​ | What We Don’t Do: |\n| • Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. • Independent Compensation Adviser. Th… | ​ | ​ | • No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to … |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b264", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b265", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b267"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d6b493bc5f00a66710197e2bde52443a12fd09dabc9c3e8f652ef4a8b18a9e0f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Executive Compensation Policies and Practices"], "items": [], "locators": 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"block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b270"], "char_count": 2294, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7b24efe0be9d93d7b3d62cc2d3ee5261b29e38232c9f7538c62ebb669d2f8b0f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Stockholder Advisory Votes on Named Executive Officer Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 270, "char_end": 2294, "char_start": 0, "fragment_sha256": 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stockholder advisory vote on the compensation of our named executive officers (commonly known as a “Say-on-Pay” vote). Approximately 99.8% of the votes represented and entitled to vote on the matter (excluding broker non-votes and abstentions) were cast for the approval of our named executive officer compensation for 2020. The Compensation Committee considers the result of the Say-on-Pay vote in determining the compensation of our named executive officers. Based on the strong level of support for our executive compensation philosophy, program, and practices demonstrated by the result of this Say-on-Pay vote, among other factors, our Board and the Compensation Committee determined to continue the implementation of our compensation philosophy, further emphasizing our commitment to link pay to performance and aligning the interests of our named executive officers with those of our stockholders. The Compensation Committee determined not to implement significant changes to our executive compensation program for 2021. We value the opinions of our stockholders. Our goal is to be responsive to our stockholders and ensure that we understand and address their opinions and concerns. Our Board and the Compensation Committee will consider the outcome of this year’s Say-on-Pay vote (see Proposal Three in this proxy statement) as well as future advisory votes on the compensation of our named executive officers, and feedback received throughout the year, when making compensation decisions for our executive officers, including our named executive officers. At our 2021 Annual Meeting of Stockholders, we also conducted a non-binding stockholder advisory vote on the frequency of future Say-on-Pay votes (commonly known as a “Say-When-on-Pay” vote). Our stockholders expressed a preference for holding future Say-on-Pay votes on an annual, rather than a biennial or triennial, basis. In recognition of this preference and other factors considered, our Board determined that, until the next Say-When-on-Pay vote, we will hold annual Say-on-Pay votes. Accordingly, following the meeting to which this proxy statement relates, our next Say-on-Pay vote will be held at our 2023 Annual Meeting of Stockholders."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b272"], "char_count": 1413, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "25e3c67c9dc27455e8d90dea0a02a82d0c9803b97d2fd7256100f758a5883a22", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 272, "char_end": 1413, "char_start": 0, "fragment_sha256": "5c688a0d40b60cb12d8c50ed6b35324399bd45868c00fe13d66b1b7fc06d2b6d", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p79", "passage_kind": "narrative", "passage_sequence": 79, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We are a company with a “pay for performance” compensation philosophy. Accordingly, our compensation programs are designed to attract, retain and motivate our employees, including our executive officers, by ensuring that such programs are aligned to the market, scalable and flexible for our leaders to operate within and simple and clear for our employees to understand. We typically implement this philosophy by emphasizing equity, rather than cash, compensation. With respect to our executive compensation program, our key objectives are to: • allow us to attract and retain highly qualified executive officers; and • provide our executive officers with the opportunity to be owners in the Company. We believe that our ability to keep our senior executive team engaged and productive is tied to our executive compensation program. In addition, for us to be appropriately positioned to attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation. Providing our executive officers and other employees with an opportunity to be owners in our business fosters their active engagement in our success and aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided our executive officers, including our named executive officers, with a compensation package consisting of the following elements:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b273"], "char_count": 819, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d0ce5e69151070bb1719b7dbabf29018bc030baf02b84b1d106a12c12e2825e6", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "items": [], "locators": 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"table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b273", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Element | ​ | ​ | Type of Element | ​ | ​ | Compensation Element | ​ | ​ | Objective |\n| Base Salary | ​ | ​ | Fixed | ​ | ​ | Cash | ​ | ​ | Designed to compensate our executives for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each executive |\n| Long-Term Incentive Compensation | ​ | ​ | Variable | ​ | ​ | Equity awards in the form of PRSU awards that may be earned and settled for shares of our common stock and TRSU awards that may vest and be settled for shares of our common stock | ​ | ​ | Designed to align the interests of our executives and our stockholders by motivating our executives to create sustainable long-term stockholder value |"} +{"artifact_role": "primary", "block_ids": 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"sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p82", "passage_kind": "narrative", "passage_sequence": 82, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "In addition, from time to time, we may provide cash sign-on and retention bonus arrangements as part of an employment offer. The amount of compensation awarded in these circumstances is established based on the proposed executive officer’s role and responsibilities, long-term potential and our expectations as to the individual’s performance and/or Company performance. Compensation-Setting Process Role of the Board of Directors Prior to the completion of the Business Combination in December 2020, our executive compensation program was administered by the board of directors of Opendoor Labs Inc. (\"Opendoor Labs\") based on recommendations from its compensation committee. The compensation of our executive officers, including our named executive officers, was reviewed by the compensation committee of Opendoor Labs, including a discussion of the compensation and performance of each executive officer with our CEO as well as our CEO’s recommendations for their compensation. These recommendations were based upon a review of the performance of each executive officer, our overall performance and an assessment of each executive officer's contributions to that performance, internal pay equity considerations and the competitiveness of the market for each executive officer's services. The compensation committee then generally evaluated any recommended compensation adjustments or awards to our executive officers, including our named executive officers, and made recommendations to the board of directors of Opendoor Labs, which ultimately determined the compensation of each executive officer. Role of the Compensation Committee The Compensation Committee discharges the responsibilities of our Board relating to the compensation of our executive officers, including our named executive officers, and the non-employee members of our Board. Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers. In carrying out its responsibilities, the Compensation Committee evaluates our compensation policies and practices with a focus on the degree to which these policies and practices reflect our executive compensation philosophy, develops strategies and makes decisions that it believes further our philosophy or align with developments in best compensation practices, and reviews the performance of our executive officers when making decisions with respect to their compensation or recommendations to our Board with respect to their compensation. The Compensation Committee has retained a compensation consultant (as described below) to provide support in its review and assessment of our executive compensation program; however, the Compensation Committee exercises its own judgment in making final decisions or recommendations with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee reviews our executive compensation program annually. As part of this review process, the Compensation Committee applies the objectives described above within the context of our overall compensation philosophy while simultaneously considering the compensation levels needed to ensure that our executive compensation program remains competitive based on input and market data provided by the Compensation Committee’s compensation consultant. The Compensation Committee also evaluates whether we are meeting our retention objectives and the potential cost of replacing key named executive officers. Setting Target Total Direct Compensation The Compensation Committee conducts an annual review of the compensation arrangements of our executive officers, including our named executive officers."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b279"], "char_count": 296, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "de98a89e0f8d4c84ba9b828b2cafd2681622f762d720614069659114cc96e7cf", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 279, "char_end": 4144, "char_start": 3848, "fragment_sha256": "5cf5097ea96ba5809494c3620336a8bd441d1db5f800f5fad3fcb19277319beb", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p83", "passage_kind": "narrative", "passage_sequence": 83, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "As part of this review, the Compensation Committee evaluates the base salary levels, any sign-on and retention bonuses, and the long-term incentive compensation opportunities of our executive officers and all related performance criteria. Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 23"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b280", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b282", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b284"], "char_count": 2996, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7e878906d54de795e7d723d61d022ef5bada0b0d6d212cc7c663a6386c2dd7a9", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 280, "char_end": 11, "char_start": 0, "fragment_sha256": "6bdb1a614d789242025ca88011ae02fcc00c04d23d8c505a78e7218e1ceeb781", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 282, "char_end": 6, "char_start": 0, "fragment_sha256": "e58303401ec801ed88be8d6833d5836e6b512ac62a089c296f7cede4d38f45bd", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 284, "char_end": 2975, "char_start": 0, "fragment_sha256": "b80c0b347669c6c4d05c714440c9f47bab04225de6e8d645f9dea2d6148c9173", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Compensation Philosophy and Objectives"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p84", "passage_kind": "narrative", "passage_sequence": 84, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s68", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 27\n\nAnchor\n\nThe Compensation Committee does not intend to establish a specific target for formulating the target total direct compensation opportunities of our executive officers. Instead, it evaluates both performance and compensation to ensure that the compensation provided to our executive officers is competitive relative to the compensation paid by similar companies in the technology and internet retail sectors, with particular emphasis on our peer companies as described below. In making decisions about the compensation of our executive officers, the members of the Compensation Committee rely primarily on considerations of various factors, including the following: • our executive compensation program objectives; • our performance against the financial, operational and strategic objectives established by the Compensation Committee and our Board; • each executive officer’s knowledge, skills, experience, qualifications and tenure relative to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; • the scope of each executive officer’s role and responsibilities compared to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; • the prior performance of each executive officer, based on a subjective assessment of his or her contributions to our overall performance, and ability to lead his or her business unit and work as part of a team; • the potential of each executive officer to contribute to our long-term financial, operational and strategic objectives; • our CEO’s compensation relative to that of our other executive officers, particularly our other named executive officers, and compensation parity among our executive officers; • our financial performance relative to our peers; • the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer’s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and • the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to his own compensation). These factors provide the framework for compensation decision-making and final decisions by the Compensation Committee or its recommendations to our Board for final decisions regarding the compensation opportunity for each executive officer. The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b286", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b287", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b288", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b290", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b292"], "char_count": 1329, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7b6ba27a8cdded57a6a3185e1c85bb7a4503305b018bc8d6416c8f90a2bee8a6", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "AnchorRole of Management"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 286, "char_end": 756, "char_start": 0, "fragment_sha256": "5940dc1fd9314e9e1153a2efb0503699a24b53b485debb1d9e5fb8f56910bf66", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "AnchorRole of Management"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 287, "char_end": 57, "char_start": 0, "fragment_sha256": "d2cdbc2f9f9e48bf3a41a9cd109e96eed8ba57826327e58bc35978fb8615a631", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "AnchorRole of Management"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 288, "char_end": 11, "char_start": 0, "fragment_sha256": "28cde1fa0fa2b8cde9af6e3fbddb6fc7d036d20bebe6f1d2c63d81be07825e1f", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "AnchorRole of Management"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 290, "char_end": 6, "char_start": 0, "fragment_sha256": "3dc6837c93397a84de4a78034fcb19dd0fb3f83d8b563f2598421821b32a3766", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "AnchorRole of Management"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 292, "char_end": 491, "char_start": 0, "fragment_sha256": "df4989a7dbebf5b170fd8d6ca6a0e7e71d014c29c1f16cdf0ac369b54477c565", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "AnchorRole of Management"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p85", "passage_kind": "narrative", "passage_sequence": 85, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "In discharging its responsibilities, the Compensation Committee works with members of our management, including our CEO. Our management assists the Compensation Committee by providing information on corporate and individual performance, market compensation data and management’s perspective on compensation matters. The Compensation Committee solicits and reviews our CEO’s proposals with respect to program structures, as well as his recommendations for adjustments to annual base salaries, long-term incentive compensation opportunities and other compensation-related matters for our executive officers, including our named executive officers (except with respect to his own compensation), based on his evaluation of their performance for the prior year.\n\n24 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 28\n\nAnchor\n\nThe Compensation Committee reviews and discusses proposals and recommendations with our CEO and considers them as one factor in determining and approving the compensation of our executive officers or making recommendations to our Board with respect to the compensation of our executive officers. Our CEO also attends meetings of our Board and the Compensation Committee at which executive compensation matters are addressed, except with respect to discussions involving his own compensation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b294"], "char_count": 3298, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c2544b15fd06260fc07bc5c6a6aaa5142d77b4dc22223b9cb760e1dd6a8b3194", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Role of the Compensation Consultant"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 294, "char_end": 3298, "char_start": 0, "fragment_sha256": "105056c05d8ded6417cb1178bd817b3e1ab73f7b3a97d7eeda98855f6b45a9a1", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p86", "passage_kind": "narrative", "passage_sequence": 86, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s70", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Compensation Committee has the authority to retain an external compensation consultant to assist it by providing information, analysis and other advice relating to our executive compensation program and the decisions resulting from its annual executive compensation review, including the authority to approve the consultant’s reasonable fees and other retention terms. The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. We first engaged Compensia, Inc. (“Compensia”), a national compensation consulting firm, in May 2018, although the Compensation Committee did not engage Compensia to provide executive and director compensation consulting services on a regular basis until 2019. In 2020 and 2021, the Compensation Committee again engaged Compensia to serve as its compensation consultant to advise on executive compensation matters, including competitive market pay practices for our executive officers, and with the data analysis and selection of the compensation peer group. In addition to the work Compensia performed in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or the Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us or the Compensation Committee. During 2021, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: • the review, analysis and updating of our compensation peer group; • the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; • a competitive market assessment for executive-level management; • an analysis of peer company equity utilization; • consultation with the Compensation Committee chair and other members between Compensation Committee meetings; and • support on other ad hoc matters throughout the year. The terms of Compensia’s engagement include reporting directly to the Compensation Committee chair. Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2021, Compensia did not provide any other consulting or other services to us. The Compensation Committee has evaluated its relationship with Compensia to ensure that it believes that such firm is independent from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2021. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b296", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b297", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b298", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b300"], "char_count": 672, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8872007507c6ae64ffd9d6211c253318ee634606d8f40403c097a929ec98d2da", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 296, "char_end": 592, "char_start": 0, "fragment_sha256": "c9deb17ee4a83d61019d52cc4fdca26b02b90fff6ed553277f5e75396cd0fedd", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 297, "char_end": 57, "char_start": 0, "fragment_sha256": "15459cbe4382a9194f875a9c1c37e6bfbe7abc21be208356ed6b3c90f5ffd465", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 298, "char_end": 11, "char_start": 0, "fragment_sha256": "6bcc51cbf69a15f59546215a29a38e26e5ca32e8e438cead193381fd2ba796f3", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 300, "char_end": 6, "char_start": 0, "fragment_sha256": "b2e85dd69ccca6055040d590a5b12c211f8ab1122397530ea7fa7bc7761d520f", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p87", "passage_kind": "narrative", "passage_sequence": 87, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. Going forward, for purposes of assessing our executive compensation against the competitive market, the Compensation Committee intends to review and consider the compensation levels and practices of a select group of peer companies. This compensation peer group will consist of companies that are similar to us in terms of industry, market\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 25\n\nEnd Page 29\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b302"], "char_count": 3700, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "007848392b088122afe036e269132a7f9aa9720131030a6b057cdfddcb5cb531", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 302, "char_end": 3700, "char_start": 0, "fragment_sha256": "914611f2674359a99faf1064f4ef34dc67c63c7fefc9c4ef6dd2c3e249113d01", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p88", "passage_kind": "narrative", "passage_sequence": 88, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "capitalization and stage of development. The competitive data drawn from this compensation peer group will be one of several factors that the Compensation Committee considers in making its decisions with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee intends to use data drawn from the companies in a compensation peer group, as well as data drawn from broad-based executive compensation surveys, with an emphasis on publicly-traded San Francisco Bay Area software/software product companies with revenues in a range of approximately 0.2x to 2.0x our revenues over the trailing four fiscal quarters to evaluate the competitive market when determining the total direct compensation packages for our executive officers, including our named executive officers. The Compensation Committee intends to review our compensation peer group at least annually and make adjustments to its composition if warranted, taking into account changes in both our business and the businesses of the companies in the peer group. Compensation Elements Our executive compensation program consists of two principal elements – base salary and long-term incentive compensation in the form of equity awards. It also includes participation in our broad-based health and welfare benefit programs. In addition, certain of our named executive officers also received sign-on or retention bonus payments for 2021. Base Salaries We provide a base salary as a fixed source of compensation for our executive officers, including our named executive officers, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock and which, prior to the Business Combination, did not provide any opportunity for the executive officers to achieve liquidity. The Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. Our current practice is to not provide our executive officers with annual base salaries exceeding $350,000. The initial base salaries of our executive officers were established at the time they entered into an employment offer letter or confirmatory employment offer letter with us and took into account their qualifications, experience, comparable market data and prior base salary level. Prior to the completion of the Business Combination, the compensation committee of Opendoor Labs reviewed, and adjusted as necessary, the base salaries for each executive officer at least annually. Following the completion of the Business Combination, the Compensation Committee reviewed the base salaries of our executive officers, including our named executive officers, and determined to maintain their annual base salaries for 2021 at their 2020 levels, except for Ms. Stevens, whose annual base salary was increased to $350,000 to reflect the competitive base salaries of executives holding comparable positions at the companies in our compensation peer group. Going forward, the Compensation Committee intends to review the annual base salaries of our executive officers, including our named executive officers, as part of its annual review of the compensation arrangements of our executive officers. The Compensation Committee will take into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to his own annual base salary) and the factors set forth in “Compensation-Setting Process – Setting Target Total Direct Compensation” above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b302"], "char_count": 1008, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8dc3cfaddc2bc57cfe997b3a4ad09d1ba41d3a53f7d4db6a44b11b4596fc4330", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 302, "char_end": 4708, "char_start": 3700, "fragment_sha256": "914611f2674359a99faf1064f4ef34dc67c63c7fefc9c4ef6dd2c3e249113d01", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p89", "passage_kind": "narrative", "passage_sequence": 89, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Long-Term Equity Compensation We believe that providing long-term incentives in the form of equity awards encourages our executive officers, including our named executive officers, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our executive officers, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Board and the Compensation Committee believe that equity awards align our executive officers’ interests and contributions with the long-term interests of our stockholders. In addition, our Board and the Compensation Committee believe that offering meaningful equity ownership in the Company is helpful in retaining our executive officers, including our named executive officers, and other key employees. 26 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b303", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b305"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0b5d3381821ac3ee274f59fd7b8c38151a6dbfe9afe57a7c41fb51dab01faec9", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 303, "char_end": 11, "char_start": 0, "fragment_sha256": "91fbbd8a8f5873af6422a12d73494fd17f405277c267bf16a08df39f86b073a2", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 305, "char_end": 6, "char_start": 0, "fragment_sha256": "a10c30a734d09cc1c4cac2d6f5672a95b43b27771164b2aa0d6c344555083519", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p90", "passage_kind": "narrative", "passage_sequence": 90, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 30\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b307"], "char_count": 3984, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c954b95b8f79c297f9a1f45024e6267d50f7a447ffff70b2a396e2c1fbff7868", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 307, "char_end": 3984, "char_start": 0, "fragment_sha256": "ff432d896a2e97c3899872c38fe3198b8313737f686a87da539fdcff1b38b838", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p91", "passage_kind": "narrative", "passage_sequence": 91, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Our named executive officers have been granted TRSU awards, PRSU awards, or a mix of TRSU awards and PRSU awards. Each unit granted pursuant to a TRSU or PRSU award represents a contingent right to receive one share of our common stock for each unit that vests. The size and precise terms of the awards were determined by the compensation committee or the board of directors of Opendoor Labs at the time of hire of, or execution of the confirmatory employment offer letter by, the individual named executive officer. In determining the amount of such awards, each individual's anticipated role, qualifications and experience, and the results of a competitive market data analysis, were considered. For descriptions of equity awards granted to our named executive officers in 2020 and 2021, see “Executive Compensation Tables,” below. Following the completion of the Business Combination, the Compensation Committee assumed responsibility for reviewing and granting equity awards to our executive officers, including our named executive officers, and granted the equity awards discussed below to Messrs. Wu and Low Ah Kee and Ms. Stevens. These awards were granted in March 2021 following the filing of a Form S-8 registration statement permitting the Company to make equity awards under the Opendoor Technologies Inc. 2020 Incentive Award Plan (the “2020 Plan”). In making its determinations, the Compensation Committee considered the equity awards specified in the employment offer letter or confirmatory employment offer letter of the respective named executive officers, a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to his own equity award), the economic position of the Company, broader economic conditions, our historical compensation structure, the potential dilutive effect of the awards on our stockholders and the other factors set forth in “Compensation-Setting Process – Setting Target Total Direct Compensation” above. Equity Awards for Mr. Wu In late 2019, the board of directors of Opendoor Labs conducted an evaluation of Mr. Wu’s compensation structure. The evaluation was driven by the fact that, at the time, all of Mr. Wu’s existing equity had vested. In addition, other than his founder shares acquired in 2013 and 2014, Mr. Wu had not been awarded any equity since Opendoor Labs was first incorporated in 2013. The Opendoor Labs board of directors desired to structure a compensation package that would (i) support Mr. Wu's enduring engagement and commitment, (ii) motivate him to create significant long-term stockholder value, (iii) recognize the unique market opportunity and extensive time horizon that Opendoor Labs would need to achieve its ultimate vision, and (iv) be fair and aligned with the market, recognizing that there existed a broad set of company peers. At the time the Opendoor Labs board of directors was considering Mr. Wu’s compensation package, the Business Combination was not yet contemplated. In order to achieve these objectives, the Opendoor Labs board of directors engaged Compensia in late 2019 to assess its founder CEO pay levels and provide input on a potential performance-based equity strategy. Based on the advice of Compensia and other factors, the Opendoor Labs board of directors entered into an employment letter agreement with Mr. Wu on January 6, 2020, which was amended and restated throughout the year in 2020 to account for intervening events, including the pending Business Combination. Ultimately, under the terms of an amended and restated employment agreement, dated September 14, 2020 (the “Wu Agreement”), Mr. Wu received awards of (i) 1,364,561 TRSUs, and (ii) 9,202,707 PRSUs in 2020. The number of TRSUs and PRSUs was adjusted to 2,207,236 and 14,885,774, respectively, to reflect the Business Combination exchange ratio. The 2,207,236 TRSUs vest only if both a service-based condition and a liquidity event condition are satisfied."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b307"], "char_count": 1865, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bcbaf0bca587221a661d36e3f26ad15142f30b491f00fa920308c01b0ee78a9a", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 307, "char_end": 5849, "char_start": 3984, "fragment_sha256": "ff432d896a2e97c3899872c38fe3198b8313737f686a87da539fdcff1b38b838", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p92", "passage_kind": "narrative", "passage_sequence": 92, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The liquidity event condition was satisfied in February 2021 upon the effective date of the Company’s registration statement filed under the Securities Act for the sale of our common stock. The service-based condition will be satisfied in 16 successive equal quarterly installments following November 1, 2019. The TRSU award is subject to vesting acceleration as described under “Executive Compensation Tables — Potential Payments Upon Termination or Change in Control.” The vesting of the 14,885,774 PRSUs is discussed below. Around the same time that the Opendoor Labs board of directors approved the Wu Agreement, they also approved the merger agreement for the Business Combination, which was signed on September 15, 2020. As disclosed in the Company’s Form S-4 registration statement for the Business Combination declared effective on November 27, 2020, the Company entered into a non-binding letter of intent for the Business Combination on August 7, 2020. This letter of intent provided for equity awards to Mr. Wu representing 1% of the outstanding capital stock of Opendoor Labs at closing of the Business Combination on an as-converted basis, or 5,438,506 TRSUs. Although the Form S-4 disclosed the intention to make the grant within 90 days following the closing of the Business Combination, the grant was not made until after the Company’s Form S-8 was filed on March 8, 2021 covering the 2020 Plan. On March 30, 2021, the Compensation Committee granted to Mr. Wu the 5,438,506 TRSUs originally contemplated in August of 2020. In making the grant, the Compensation Committee reviewed the factors considered by the Opendoor Labs board of directors, including peer group information, advice provided by Compensia, market rates for employee and consultant compensation, the economic position of the Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 27"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b308", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b310", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b312"], "char_count": 3597, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7cf2506cd31dcd9e37ee690b00d335b4944c0a9e03596d7d3716dca8c41b31cf", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 308, "char_end": 11, "char_start": 0, "fragment_sha256": "326c03b54b0a1893fa5d11f0ef428ac431868205dd969ce662ddcb232cca70c4", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 310, "char_end": 6, "char_start": 0, "fragment_sha256": "e9c8fe583b45cd36e572733951494cebc8ed332f22ce3713f9a6844b47bca0aa", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 312, "char_end": 3576, "char_start": 0, "fragment_sha256": "58a03a62ffae211d637b160f5f539346f31237c38c4445fd36ca9ad44cffd535", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p93", "passage_kind": "narrative", "passage_sequence": 93, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 31\n\nAnchor\n\nCompany, broader economic conditions, the Company’s historical employee and consultant compensation structure, and the potential dilutive effect of equity awards on the Company’s stockholders. The Compensation Committee also sought to bring into balance Mr. Wu's service-based and performance-based equity awards, while still ensuring that the majority of his equity awards, as well as his target total direct compensation, was performance-based. With this final portion of the compensation package awarded, the portion of Mr. Wu’s outstanding equity awards that were wholly performance-based as of the date of the 5,438,506 TRSU grant was 68%. The 5,438,506 TRSUs are subject to a four-year vesting schedule with 1/16th of the units subject to the award vesting in successive equal quarterly installments following January 15, 2021, subject to Mr. Wu’s continuous service with us through each such vesting date. The TRSU award is subject to vesting acceleration as described under “Executive Compensation Tables — Potential Payments Upon Termination or Change in Control.” The performance-based vesting conditions of the 14,885,774 PRSUs are, subject to Mr. Wu’s continued performance of services to us through each applicable vesting date, satisfied as to 1/6th of the PRSUs, or 2,480,963 shares, upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted average closing price (“VWAP”) of our common stock or, if earlier, based on the per share consideration received in connection with a Change of Control (as defined in the Wu Agreement). In the event of a Change of Control structured as a stock-for-stock acquisition, the value of the acquiror’s shares will be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to consummation of such Change of Control. The PRSU award is not otherwise entitled to accelerated vesting in connection with a Change of Control. These price milestones, adjusted for the exchange ratio in the Business Combination, are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23, respectively. In the event of certain involuntary terminations of employment by Mr. Wu prior to the time that the performance-based vesting criteria of the PRSU award have been satisfied, the PRSU award will remain outstanding and vest as to performance when the applicable share price milestones are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such share price milestones are not satisfied by the end of such 60-day period, the PRSU award will expire. Although Mr. Wu has earned the first tranche of the PRSU award at the price milestone of $18.11, he will not earn the second tranche of the award until the 60-day VWAP of our common stock equals or exceeds $23.54 (with additional tranches tied to even higher 60-day VWAPs of $30.60, $39.78, $51.71 and $67.23, respectively). For illustrative purposes, the table below sets forth the value to all Opendoor stockholders assuming each higher price milestone is achieved, based on the market capitalization of the Company using the closing price of our common stock of $9.85 on March 29, 2022, the Annual Meeting Record Date, and 623,394,756 shares, the number of Opendoor shares outstanding on the Record Date. As shown in the table below, if Mr. Wu achieves all six price milestones under his PRSU award, this would imply a market capitalization of more than $41.9 billion, which is approximately a 590% increase to our market capitalization on March 29, 2022."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b313"], "char_count": 741, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3046bfc3ca6ec62b3b6e7e89d37c963ae6581c7a155bb95ba323ab3cb4d017ac", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 313, "char_end": 619, "char_start": 0, "fragment_sha256": "52a2f060cc88b8ecfbae48e0b627352d8650c47122fa3d98ae686a73a1a4c2ab", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": 14, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p94", "passage_kind": "table", "passage_sequence": 94, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b313", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Price Milestone | ​ | ​ | \"OPEN\" 60-day VWAP ($) | ​ | ​ | \"OPEN\" Market Capitalization based on Record Date Shares Outstanding ($) | ​ | ​ | Approximate Percentage Increase in Market Capitalization at Milestone (%) |\n| Milestone 1 | ​ | ​ | $ 18.11 | ​ | ​ | $ Achieved | ​ | ​ | Achieved |\n| Milestone 2 | ​ | ​ | 23.54 | ​ | ​ | 14.7 billion | ​ | ​ | 140 % |\n| Milestone 3 | ​ | ​ | 30.60 | ​ | ​ | 19.1 billion | ​ | ​ | 210% |\n| Milestone 4 | ​ | ​ | 39.78 | ​ | ​ | 24.8 billion | ​ | ​ | 310 % |\n| Milestone 5 | ​ | ​ | 51.71 | ​ | ​ | 32.2 billion | ​ | ​ | 430 % |\n| Milestone 6 | ​ | ​ | 67.23 | ​ | ​ | 41.9 billion | ​ | ​ | ​590% |"} +{"artifact_role": "primary", "block_ids": 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"heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 318, "char_end": 6, "char_start": 0, "fragment_sha256": "b12a6ee95f50ac51876d8a4a1d4bfd5f045a6b023340b14e72d82a1f30d23072", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 320, "char_end": 349, "char_start": 0, "fragment_sha256": "d5befb1730822054df37c3c522f2dd99bcc6c2d1ae20eeee402914bc9ef11697", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p95", "passage_kind": "narrative", "passage_sequence": 95, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Compensation Committee believes the performance targets ensure that Mr. Wu remains highly incentivized over an extended period of time to capitalize on our unique market opportunity to grow the Company and generate stockholder value, while at the same time ensuring his enduring engagement and commitment to the Company.\n\n28 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 32\n\nAnchor\n\nEquity Awards for Mr. Low Ah Kee Pursuant to the offer letter agreement with Mr. Low Ah Kee executed in October 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination (the “Low Ah Kee Agreement”), the Compensation Committee granted Mr. Low Ah Kee the following equity awards on March 9, 2021:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b321"], "char_count": 232, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2d5f0b77fa247f6a341fec2098cfbe479f98fde30939cca9f1f30b988d1ae3a9", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 321, "char_end": 180, "char_start": 0, "fragment_sha256": "4be65ba37f5735945bacd1c0ad7bb717e2bd4a8765900d2454772526e90f70bf", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": 15, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p96", "passage_kind": "table", "passage_sequence": 96, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b321", "text": "| | | | |\n| --- | --- | --- | --- |\n| Equity Award | ​ | ​ | Number of Shares |\n| Time-based restricted stock unit (\"TRSU\") award | ​ | ​ | 4,642,348 |\n| Performance-based restricted stock unit (\"PRSU\") award | ​ | ​ | 808,771 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b322"], "char_count": 1987, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f87e6ecdac1f60817b59a5714a511e5bac9e213d031d201a550bb1abd4e7ad33", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 322, "char_end": 1987, "char_start": 0, "fragment_sha256": "c8c790c45df4ffc25c6e2827c105d73c48e606ec1f7e9490b2eb51cd91b12ca1", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p97", "passage_kind": "narrative", "passage_sequence": 97, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Time-Based Restricted Stock Unit Award – The TRSU award is subject to a four-year vesting schedule with 25% of the total number of units subject to the award vesting November 15, 2021, the first anniversary of his vesting commencement date and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to his continuous service with us through each such vesting date. The TRSU award is subject to vesting acceleration as described under “Executive Compensation Tables — Potential Payments Upon Termination or Change in Control.” Performance-Based Restricted Stock Unit Award – The PRSU award vests, subject to Mr. Low Ah Kee’s continued performance of services to us through each applicable vesting date, as to 1/5th of the PRSUs, or approximately 161,754 shares, upon the achievement of the share price milestones set forth below. The share price is to be calculated based on the VWAP of our common stock over any 60-day period or, if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the 2020 Plan). In the event of a Change in Control structured as a stock-for-stock acquisition, the value of the acquiror’s shares will be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to consummation of such Change in Control. The PRSU award is not otherwise entitled to accelerated vesting in connection with a Change in Control. In the event of certain involuntary terminations of employment by Mr. Low Ah Kee prior to the time that the performance- based vesting criteria of the PRSU award have been satisfied, the PRSU award will remain outstanding and vest as to performance when the applicable share price milestones are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such share price milestones are not satisfied by the end of such 60-day period, the PRSU award will expire."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b323"], "char_count": 264, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b28a97b62647ee536bd256caa27bbbfc319204a4b2d30c80fc8e1c4e5667c07b", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 323, "char_end": 227, "char_start": 0, "fragment_sha256": "fa56065ffc1f40225bd858b542ab6df743d5bda04e25fb36365303dfab1e50ea", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": 16, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p98", "passage_kind": "table", "passage_sequence": 98, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b323", "text": "| |\n| --- |\n| Share Price Milestones |\n| 1/5th of the PRSU award shares at $23.54 |\n| 1/5th of the PRSU award shares at $30.60 |\n| 1/5th of the PRSU award shares at $39.78 |\n| 1/5th of the PRSU award shares at $51.71 |\n| 1/5th of the PRSU award shares at $67.23 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b324", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b325", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b326", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b328"], "char_count": 1119, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fada95031d94ac5632390a8ffe20b7311e3b7cddfc1cc925838238f740d18647", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 324, "char_end": 1039, "char_start": 0, "fragment_sha256": "aeda568df7e388c4b0c172985cd729b941f31123400cebb43af499407ee25cbe", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 325, "char_end": 57, "char_start": 0, "fragment_sha256": "93195e28cf053d6467401e4500e24f82c1f4ace03b7c568607869bd24b09fd00", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 326, "char_end": 11, "char_start": 0, "fragment_sha256": "56e3c9418be5f57e19f066536267c6d1c2cc62eac60f2c1da05ab8ad091b546b", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 328, "char_end": 6, "char_start": 0, "fragment_sha256": "76c08627c14b91093fe021ef25b69d0a8ab55bf837ea0e9c1fc764c1bce18ebd", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p99", "passage_kind": "narrative", "passage_sequence": 99, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Mr. Low Ah Kee will not earn the first tranche of the award until the 60-day VWAP of our common stock equals or exceeds $23.54 (with additional tranches tied to even higher 60-day VWAPs of $30.60, $39.78, $51.71 and $67.23, respectively). For illustrative purposes, see the table set forth above under “Equity Awards for Mr. Wu” for the value to all Opendoor stockholders assuming each price milestone is achieved. The Compensation Committee believes the performance targets ensure that Mr. Low Ah Kee remains highly incentivized over an extended period of time to capitalize on our unique market opportunity to grow the Company and generate stockholder value, while at the same time ensuring his enduring engagement and commitment to the Company. Equity Awards for Ms. Stevens On March 30, 2021, the Compensation Committee granted to Ms. Stevens two TRSU awards, one that could be settled for 121,316 shares of our common stock (the “First Award”) and one that could be settled for 153,684 shares of our common stock (the “Second Award”).\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 29\n\nEnd Page 33\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b330"], "char_count": 3670, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1a758c2106c1fb3dbbcad74315e8ac10a8e153dad661c99e072310a90da1b71f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 330, "char_end": 3670, "char_start": 0, "fragment_sha256": "9ede349848320fa23f1bb2829acfec03d97240752415527d36dcf8bb5599c34c", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p100", "passage_kind": "narrative", "passage_sequence": 100, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The First Award was subject to a one-year vesting schedule with 25% of the units subject to the award vesting on March 1, 2021, the vesting commencement date, and the remaining 75% of the units vesting on the one-year anniversary of the vesting commencement date, subject to her continuous service with us through such vesting date. Due to Ms. Stevens’ separation from the Company on September 1, 2021, the remaining 75% of the First Award was forfeited. The Second Award was subject to a two-year vesting schedule with 25% of the units subject to the award vesting on June 15, 2021, the vesting commencement date, 50% of the units vesting on the one-year anniversary of the vesting commencement date and 25% of the units vesting on the two-year anniversary of the vesting commencement date, subject to her continuous service with us through each such vesting date. Due to Ms. Stevens’ separation from the Company on September 1, 2021, the remaining 75% of the Second Award was forfeited. Annual Cash Bonuses In 2021, as in past years, we did not maintain an annual cash bonus or other incentive plan for our executive officers, including our named executive officers. Instead, our Board and the Compensation Committee relied primarily on the long-term incentive compensation opportunities granted to our executive officers in the form of both the previously granted and newly granted awards using both TRSU awards with time-based vesting requirements and PRSU awards with performance-based vesting requirements. Sign-On and Retention Bonuses In order to attract top talent, we from time to time provide sign-on and retention compensation to our executive officers. In connection with the hire of Mr. Low Ah Kee in November 2020, the board of directors of Opendoor Labs approved a cash sign-on and retention bonus in the amount of $300,000, $150,000 of which was paid within five business days after his employment start date and the remaining $150,000 of which was paid within five business days after the first anniversary of his employment start date. We believed that these bonuses were appropriate as an incentive for Mr. Low Ah Kee to join us and to help retain Mr. Low Ah Kee through the first anniversary of his employment start date, in addition to Mr. Low Ah Kee’s equity awards discussed above. In connection with the hire of Mr. Morillo in January 2021, we approved a cash sign-on and retention bonus in the aggregate amount of $3,800,000, $1,500,000 of which was paid as a sign-on bonus in January 2021, $1,150,000 of which was paid as a retention bonus in January 2022 after the first anniversary of his employment start date and $1,150,000 of which will be paid as a retention bonus in 2023 within 30 days after the second anniversary of his employment start date, subject to his continuous active employment with us through such anniversary date. We believed that these bonuses were appropriate as an incentive for Mr. Morillo to join us and to help retain Mr. Morillo through the second anniversary of his employment start date. Health and Welfare Benefits Our named executive officers are eligible to participate in the same employee benefit plans, and on the same terms and conditions, as all other full-time, salaried U.S. employees, subject to the terms and eligibility requirements of such plans. These benefits include medical, dental and vision insurance, business travel insurance, an employee assistance program, health and dependent care flexible spending accounts, basic life insurance, accidental death and dismemberment insurance, short-term and long-term disability insurance, commuter benefits and reimbursement for mobile phone coverage."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b330"], "char_count": 1280, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "71cbd8266555b7bef8275552c76452722d45453ce67490b404376c1d807e5c76", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 330, "char_end": 4950, "char_start": 3670, "fragment_sha256": "9ede349848320fa23f1bb2829acfec03d97240752415527d36dcf8bb5599c34c", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p101", "passage_kind": "narrative", "passage_sequence": 101, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We also sponsor a Section 401(k) retirement savings plan (the “Section 401(k) Plan”) that provides our executive officers, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis subject to the limits imposed by the Internal Revenue Code of 1986, as amended (the “Code”), to the same extent as our other eligible full-time employees. Participants are able to defer up to 90% of their eligible compensation subject to applicable annual limits under the Code. All participants’ interests in their deferrals are 100% vested when contributed. Currently, we do not match employee contributions to the Section 401(k) Plan. We believe that providing a vehicle for tax-deferred retirement savings though our Section 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers. We design our employee benefits programs to be affordable and competitive in relation to the market as well as compliant with applicable laws and practices. We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices and the competitive market. 30 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b331", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b333"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "39e57376460537116141ccb1de84117c3daf59801d00e3c1d53d713c805ff6f2", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 331, "char_end": 11, "char_start": 0, "fragment_sha256": "8862157d72ce0aff0c549be3872a91de18b5fbbf0905433a3cbf690329c7e4d1", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 333, "char_end": 6, "char_start": 0, "fragment_sha256": "ef4044a01895663d0735eda4ab335e9043a93d93ed697bd526e82ac2a68d06ff", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p102", "passage_kind": "narrative", "passage_sequence": 102, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 34\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b335"], "char_count": 3834, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1b000cf6d5b95acd6bae2f7aef1cab658102b161c0b22c80f3b75326dcf9c3f6", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 335, "char_end": 3834, "char_start": 0, "fragment_sha256": "2e83cd910491c544b3f7029fb06a19e9830308813bfe2adeb89b504f53e58613", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p103", "passage_kind": "narrative", "passage_sequence": 103, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Perquisites and Other Personal Benefits Currently, we do not view perquisites or other personal benefits as a significant component of our executive compensation program. Accordingly, we do not generally provide perquisites or other personal benefits to our named executive officers, except as generally made available to our employees or in situations where we believe it is appropriate to assist an individual in the performance of his or her duties, to make him or her more efficient and effective and for recruitment and retention purposes. During 2021, our named executive officers did not receive perquisites or other personal benefits that were, in the aggregate, $10,000 or more for each individual, except for Messrs. Wu and Wong. For Messrs. Wu and Wong, the Company paid filing fees of $280,000 and $45,000, respectively, in connection with their compliance with the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (the “HSR Act”) related to the acquisition of shares of our stock, as well as a separate tax “gross up” payment to each of them for any taxes they incurred in connection with the payment by the Company of the HSR Act filing fee on their behalf. In the future, we may provide perquisites or other personal benefits in limited circumstances, such as those described in the preceding paragraph. All future practices with respect to perquisites or other personal benefits will be approved and subject to periodic review by the Compensation Committee. Employment Offer Letters We have entered into written employment offer letters with each of our named executive officers. Each of these employment offer letters was approved prior to the Business Combination by the compensation committee and/or board of directors of Opendoor Labs. We believe that these arrangements were necessary to secure the services or the continued service of these individuals in a highly competitive job market. Each of these employment agreements does not have a specific term, provides for “at will” employment (meaning that either we or the named executive officer may terminate the employment relationship at any time without cause) and generally set forth the named executive officer’s base salary, eligibility to participate in our employee benefit plans and programs in effect for similarly situated employees during his or her employment, in some instances provided for a sign-on bonus and/or retention payment and, in certain instances, provided for certain of the named executive officers to receive equity awards on the terms and conditions as set forth in the employment offer letter. In addition, each named executive officer either agreed to execute and be bound by our Confidential Information and Inventions Assignment Agreement or confirmed that the named executive officer agreed to continue to be bound by the Confidential Information and Inventions Assignment Agreement he or she had previously executed. Further, each of these employment offer letters provides for certain vesting acceleration benefits upon an involuntary termination of employment. These arrangements are discussed in more detail in “Post-Employment Compensation” below and “Potential Payments upon Termination or Change in Control” elsewhere in this proxy statement. For a detailed description of the employment offer letters with our named executive officers, see “Employment Offer Letters” below. Post-Employment Compensation Certain of the employment offer letters with our named executive officers provide for protections in the event of certain involuntary terminations of employment, including a termination of employment in connection with a change in control of the Company, in exchange for the execution of a general release of claims in favor of the Company. In the event of certain involuntary terminations of employment by Messrs."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b335"], "char_count": 801, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ee581cca5b1f314e32274daf9cebbd67c9d8f933975c7e1bb9c6b892a6c2ae96", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 335, "char_end": 4635, "char_start": 3834, "fragment_sha256": "2e83cd910491c544b3f7029fb06a19e9830308813bfe2adeb89b504f53e58613", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p104", "passage_kind": "narrative", "passage_sequence": 104, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Wu and Low Ah Kee prior to the time that the performance-based vesting criteria of their PRSU awards have been satisfied, the PRSU awards will remain outstanding and vest as to performance when the applicable performance-based vesting criteria are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such performance-based vesting criteria are not satisfied by the end of such 60-day period, the PRSU awards will expire. In addition, we entered into agreements providing for the accelerated vesting of all time-based equity awards upon an involuntary termination of employment in connection with a change in control of the Company with each of our named executive officers in February 2022. Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 31"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b336", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b338"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a2e7113f27544ec450eafcc6199dadd9f046ae5c5ab2a46c1753b4f8dd18258a", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 336, "char_end": 11, "char_start": 0, "fragment_sha256": "e670bbfef0c28c370418b116c05724ebabc52383e1fc12cddc991d8b796a47ce", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 338, "char_end": 6, "char_start": 0, "fragment_sha256": "c371af298111bc91ca7dae7b9726b8a911b3a3c6be9a688b1fe9943fdd05fb37", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p105", "passage_kind": "narrative", "passage_sequence": 105, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 35\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b340"], "char_count": 3518, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2e1fa416d4defc57196b6941738515056b8b25538a1585f8147ab5f95aeb9972", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 340, "char_end": 3518, "char_start": 0, "fragment_sha256": "f0c199a490269f886c328ec22c14eb0618771d8db06ff11301a700c8555613d8", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p106", "passage_kind": "narrative", "passage_sequence": 106, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We believe these provisions provide reasonable compensation in the form of certain limited benefits to the named executive officer if he or she leaves our employ under certain circumstances to facilitate his or her transition to new employment. Further, we seek to mitigate any potential employer liability and avoid future disputes or litigation by requiring a departing named executive officer to sign a general release of all claims in favor of the Company as a condition to receiving post-employment compensation payments or benefits. We believe that these agreements help maintain our named executive officers’ continued focus on their assigned duties to maximize stockholder value if there is a potential change in control transaction and mitigate the risk of subsequent disputes or litigation. Under these provisions, all payments and benefits in the event of a change in control of the Company are payable only if there is a connected loss of employment by a named executive officer (a so-called “double-trigger” arrangement). We use this double-trigger arrangement to protect against the loss of retention value following a change in control of the Company and to avoid windfalls, both of which could occur if vesting of either equity or cash-based awards accelerated automatically as a result of the transaction. We are not obligated to provide excise tax payments, which we refer to as gross-ups, to any of our executive officers, including our named executive officers. We believe that having in place reasonable and competitive post-employment compensation arrangements, including in the event of a change in control of the Company, is essential to attracting and retaining highly-qualified executive officers. The Compensation Committee does not consider the specific amounts payable under the post-employment compensation arrangements when determining our named executive officers’ compensation. We do believe, however, that these arrangements are necessary to offer competitive compensation packages. Hedging and Pledging of Securities We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company's securities. Our directors, officers and employees are, therefore, prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading and Trading Window Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities, whether they are granted to such individual by the Company as part of such person's compensation or otherwise held, directly or indirectly, by such individual. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Head of Legal. Tax and Accounting Considerations The Compensation Committee takes the applicable tax and accounting requirements into consideration in designing and overseeing our executive compensation program."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b340"], "char_count": 1404, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b50a971201853c51466ff62057cd132ba11db6d15c7982c7044602c505635120", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 340, "char_end": 4922, "char_start": 3518, "fragment_sha256": "f0c199a490269f886c328ec22c14eb0618771d8db06ff11301a700c8555613d8", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p107", "passage_kind": "narrative", "passage_sequence": 107, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Deductibility of Executive Compensation For federal income tax purposes, publicly-traded companies may be prohibited under Section 162(m) of the Code from deducting employee enumeration in excess of $1 million paid to their chief executive officer, chief financial officer, any other executive officer whose total compensation is required to be reported to stockholders under the Exchange Act by reason of such individual being among the three highest compensated executive officers for the tax year and any executive officer who was subject to the deduction limit in any tax year beginning after December 31, 2016. Even if Section 162(m) may limit the compensation deduction, our Board and the Compensation Committee believe our compensation policies and practices should be designed to help us meet our established goals and objectives. While the Compensation Committee will consider the impact of the Section 162(m) deduction limitation, it intends to continue to compensate our executive officers, including our named executive officers, in a manner that is in the best interest of our stockholders and reserves the right to make compensation decisions that may not be deductible under Section 162(m) where the Compensation Committee determines the compensation to be appropriate and in the best interests of the Company and our stockholders. 32 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b341", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b343", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b345"], "char_count": 1990, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2a00a016c37e5366ba9f9392a3edfdf6ea220138d8e45984ac579bca841364f6", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 341, "char_end": 11, "char_start": 0, "fragment_sha256": "27efa991a421c2f75241698784c276ce42ed430748db1154a0b58bde28aa68b5", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 343, "char_end": 6, "char_start": 0, "fragment_sha256": "36e499809e506ebefc3662679a11ea730aca162c505973a53e5f5ddf7983d04f", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 345, "char_end": 1969, "char_start": 0, "fragment_sha256": "80620ddd4bb0dc5680d40f8dc482ac085023114c6ee84741941807a863d19b47", "heading_path": ["AnchorEXECUTIVE COMPENSATION", "Compensation Discussion and Analysis", "Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p108", "passage_kind": "narrative", "passage_sequence": 108, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 36\n\nAnchor\n\nAccounting for Stock-Based Compensation The Compensation Committee takes accounting considerations into account in designing compensation plans and arrangements for our executive officers and other employees. Chief among these is the Financial Accounting Standard Board’s Accounting Standards Codification, Compensation – Stock Compensation (Topic 718) (“ASC Topic 718”), the standard which governs the accounting treatment of certain stock-based compensation. Among other things, ASC Topic 718 requires us to record a compensation expense in our income statement for all equity awards granted to our executive officers and other employees. This compensation expense is based on the grant date “fair value” of the equity award and, in most cases, will be recognized ratably over the award’s requisite service period (which, generally, will correspond to the award’s vesting schedule). This compensation expense is also reported in the compensation tables below, even though recipients may never realize any value from their equity awards. HSR Act Filing Fee The HSR Act requires that any time certain individuals acquire shares of Company stock and, after such acquisition, hold more than a certain amount of value in stock of the Company, those individuals must make a filing under the HSR Act, unless an exception applies. Due to the value of shares of Company stock acquired by Messrs. Wu and Wong, they were each required to make a filing and related payments under the HSR Act, in the amounts of $280,000 and $45,000, respectively. On March 30, 2021, the Compensation Committee agreed to pay such HSR Act filing fees on behalf of Messrs. Wu and Wong, on a one-time basis, as compensation to them. The Compensation Committee also approved a separate tax gross-up payment to Messrs. Wu and Wong for taxes they incurred in connection with the payment by the Company of the HSR Act filing fees on their behalf. 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["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 352, "char_end": 209, "char_start": 0, "fragment_sha256": "616de7d1f1451b50882ffc0a0ad02d06e5bc5a44cddd8caa6d59785888bec4fd", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p110", "passage_kind": "narrative", "passage_sequence": 110, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s73", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The table below shows compensation of our named executive officers for the fiscal years ended December 31, 2021, 2020 and 2019, to the extent such persons served as named executive officers during such period."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b353"], "char_count": 1859, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bcacf8fda7391bbd5f98244cce393e060b5816fc3b705f2eb31689422fedf2f0", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b353", "text": "| | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Name and Principal Position | ​ | ​ | Year | ​ | ​ | Salary ($) | ​ | ​ | Bonus ($)(1) | ​ | ​ | Stock Awards ($)(2) | ​ | ​ | All Other Compensation ($)(3) | ​ | ​ | Total ($) |\n| Eric Wu | ​ | ​ | 2021 | ​ | ​ | ​325,100 | ​ | ​ | ​— | ​ | ​ | ​111,598,143 | ​ | ​ | ​410,297 | ​ | ​ | ​112,333,540 |\n| Chief Executive Officer | ​ | ​ | 2020 | ​ | ​ | ​189,584(4) | ​ | ​ | ​— | ​ | ​ | ​370,051,408(5) | ​ | ​ | ​— | ​ | ​ | ​370,240,992 |\n| | ​ | ​ | 2019 | ​ | ​ | ​275,000 | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​275,000 |\n| Carrie Wheeler | ​ | ​ | 2021 | ​ | ​ | ​350,000 | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​350,000 |\n| Chief Financial Officer | ​ | ​ | 2020 | ​ | ​ | ​114,722 | ​ | ​ | ​100,000 | ​ | ​ | ​50,060,723(6) | ​ | ​ | ​— | ​ | ​ | ​50,275,445 |\n| Andrew Low Ah Kee | ​ | ​ | 2021 | ​ | ​ | ​350,000 | ​ | ​ | ​150,000 | ​ | ​ | ​112,546,679(7) | ​ | ​ | ​382 | ​ | ​ | ​113,047,061 |\n| President | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| Daniel Morillo | ​ | ​ | 2021 | ​ | ​ | ​345,139 | ​ | ​ | ​2,650,000 | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​2,995,139 |\n| Chief Investment Officer | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| Ian Wong | ​ | ​ | 2021 | ​ | ​ | ​324,986 | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​74,196 | ​ | ​ | ​399,182 |\n| Chief Technology Officer | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| Elizabeth Stevens | ​ | ​ | 2021 | ​ | ​ | ​225,972 | ​ | ​ | ​— | ​ | ​ | ​5,643,000(8) | ​ | ​ | ​367 | ​ | ​ | ​5,869,339 |\n| Former Head of Legal | ​ | ​ | 2020 | ​ | ​ | ​300,000 | ​ | ​ | ​75,000 | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​375,000 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b354"], "char_count": 3497, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ff3f79bf45f77cb09b95d21876c0b6245d3feddc9a980f6282c279ef47600333", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 354, "char_end": 3497, "char_start": 0, "fragment_sha256": "c52c9128d6ca6aef07e72d8f783a35e62b8ec33596c502291112253d98552c79", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p112", "passage_kind": "narrative", "passage_sequence": 112, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s73", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "(1) Amounts listed represent sign-on and retention bonuses paid to Ms. Wheeler and Messrs. Low Ah Kee and Morillo and a retention bonus paid to Ms. Stevens, each as described above in the section entitled “Compensation Discussion and Analysis — Sign-On and Retention Bonuses”. (2) Amounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer. For additional information regarding the stock-based awards granted to our named executive officers, please see Note 14. Share-Based Awards to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 and for the year ended December 31, 2020. (3) Amount listed represents (a) for Mr. Wu, a $280,000 payment for HSR filing fees and a $130,297 tax gross-up related to the HSR filing fee payment, (b) for Mr. Wong, a $45,000 payment for HSR filing fees and a $29,196 tax gross-up related to the HSR filing fee payment and (c) for Mr. Low Ah Kee and Ms. Stevens, a tax gross-up for a COVID-19 relief payment available to all employees. (4) Mr. Wu donated his salary for a portion of 2020 to a relief fund for Company employees affected by staff reductions in force. (5) $354,175,995 of this amount represents the grant date fair value of PRSUs which are subject to performance-based vesting conditions (as described below in the section entitled “Employment Offer Letters — Eric Wu Continued Employment Letter Agreement of PRSUs which are subject to performance- Continued Employment Letter Agreement”). Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Mr. Wu in 2020 that are subject to performance-based vesting conditions is $438,237,347, which assumes the achievement of the highest level of such performance conditions. (6) $3,243,247 of this amount represents the grant date fair value of PRSUs which were subject to performance-based vesting conditions (as described below in the section entitled “Employment Offer Letters — Carrie Wheeler Offer Letter Agreement which were subject to an Offer Letter Agreement”). Such grant date fair value was based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Ms. Wheeler in 2020 that were subject to performance-based vesting conditions is $4,815,000, which assumes the achievement of the highest level of such performance conditions. (7) $12,086,268 of this amount represents the grant date fair value of PRSUs which are subject to performance-based vesting conditions (as described below in the section entitled “Employment Offer Letters — Andrew Low Ah Kee Offer Letter Agreement are subject to performance Offer Letter Agreement”). Such grant date fair value is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Mr. Low Ah Kee in 2021 that are subject to performance-based vesting conditions is $17,501,804, which assumes the achievement of the highest level of such performance conditions. (8) Due to Ms. Stevens’ separation from the Company on September 1, 2021, 75% of her stock awards granted in 2021 was unvested and forfeited."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b355", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b356", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b358"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c9961b9d95bc0cb9ef45545429886934267d0b7cc6a9aa2b79c63befdfc8eb4f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary 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["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p113", "passage_kind": "narrative", "passage_sequence": 113, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s73", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "34 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 38\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b361"], "char_count": 63, "cik10": "0001801169", "company_name": 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​111,598,143 |\n| Carrie Wheeler | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | — |\n| Andrew Low Ah Kee | ​ | ​ | 03/09/2021 | ​ | ​ | — | ​ | ​ | ​4,642,348 | ​ | ​ | ​100,460,411 |\n| | ​ | ​ | 03/09/2021 | ​ | ​ | 808,771 | ​ | ​ | ​— | ​ | ​ | ​12,086,268 (2) |\n| Daniel Morillo | ​ | ​ | ​— | ​ | ​ | — | ​ | ​ | ​— | ​ | ​ | ​— |\n| Ian Wong | ​ | ​ | ​— | ​ | ​ | — | ​ | ​ | ​— | ​ | ​ | ​— |\n| Elizabeth Stevens | ​ | ​ | 03/30/2021 | ​ | ​ | ​— | ​ | ​ | ​121,316 (3) | ​ | ​ | ​2,489,404 |\n| | ​ | ​ | ​03/30/2021 | ​ | ​ | — | ​ | ​ | ​153,684 (3) | ​ | ​ | ​3,153,596 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b363"], "char_count": 1034, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ec3a1e9b58ce9f0a0338bf223eac14e5685fe9be4f54e31c8ffc1806711f3fe0", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": 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"passage_sequence": 116, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s74", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "(1) Amounts listed represent the grant date fair value of awards, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the named executive officer. (2) This amount represents the grant date fair value of PRSUs which are subject to performance-based vesting conditions (as described below in the section entitled “— Andrew Low Ah Kee Offer Letter Agreement represents the grant date fair value of PRSUs which a Andrew Low Ah Kee Offer Letter Agreement”), which is based on the probable outcome of such performance-based vesting conditions. The maximum grant date fair value of PRSUs granted to Mr. Low Ah Kee in 2021 that are subject to performance-based vesting conditions is $17,501,804, which assumes the achievement of the highest level of such performance conditions. (3) Due to Ms. Stevens’ separation from the Company on September 1, 2021, 75% of her stock awards granted in 2021 was unvested and forfeited."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b366"], "char_count": 819, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1c94cd8a52dd1ab0cb7a82c1448557a98137478b51643fdd84dec9a0d29218e1", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Eric Wu Continued Employment Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 366, "char_end": 819, "char_start": 0, "fragment_sha256": "be1f73641b2f482de3581328929d7c7a2c8f49cb7c51ae18d6f74a6cce7e9cd6", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Eric Wu Continued Employment Letter Agreement"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p117", "passage_kind": "narrative", "passage_sequence": 117, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s76", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We entered into a continued employment letter agreement with Mr. Wu, referred to as the Wu Agreement, in January 2020, which the Opendoor Labs board of directors negotiated prior to the contemplation of the Business Combination, which was subsequently amended and restated in September 2020. The Wu Agreement provides for an unspecified term of employment and entitles Mr. Wu to an annual base salary of $325,000 and certain TRSU and PRSU awards (as adjusted to reflect the Business Combination). Pursuant to the Wu Agreement, Mr. Wu was granted TRSUs and PRSUs in 2020 and 2021, the terms and conditions of which are described under \"Compensation Discussion and Analysis — Compensation Elements — Equity Awards for Mr. Wu.” The Wu Agreement does not provide for any cash severance entitlements or benefit continuation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b368", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b369", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b370"], "char_count": 1513, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ed764b8368116803fddb58c0ac2316ae0e54fad1399e9a481966e96fcaf1e223", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 368, "char_end": 1441, "char_start": 0, "fragment_sha256": "3a4439c47f858c1e56f8d5cbff0bd547f0a87366caa594c124db969721fcfb9c", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 369, "char_end": 57, "char_start": 0, "fragment_sha256": "00119829da1e1a0f7e1bf0e2f94e4913b627e035535e1eee7722e440bd138c93", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 370, "char_end": 11, "char_start": 0, "fragment_sha256": "dcff1721f4f82bfb7e08ac1f63ffc7fc5026a7861bffa0bc286e849e6ba56e9a", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "span"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p118", "passage_kind": "narrative", "passage_sequence": 118, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "We entered into an offer letter agreement with Ms. Wheeler in September 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination (the “Wheeler Agreement”). The Wheeler Agreement provides for an unspecified term of employment and entitles Ms. Wheeler to a sign-on and retention bonus of $100,000 (which has been paid), an annual base salary of $350,000 and certain RSU awards (as adjusted to reflect the Business Combination). Pursuant to the Wheeler Agreement, Ms. Wheeler was granted 3,898,277 TRSUs and 485,262 PRSUs in her capacity as our CFO (collectively, the “Wheeler CFO RSUs”), which will vest only if both (i) a liquidity-based vesting condition and (ii) either (a) a time-based vesting condition or (b) a performance-based vesting condition are satisfied, in each case, subject to Ms. Wheeler’s continued employment with us through the applicable vesting date. The liquidity-based vesting condition was satisfied upon the completion of the Business Combination. 3,493,892 of the Wheeler CFO RSUs are further subject to a time-based vesting condition whereby 25% of the award vested on the first anniversary of Ms. Wheeler’s employment start date with us (the “Wheeler Start Date”) and 75% of the award vests in substantially equal quarterly installments over a three-year period thereafter. 404,385 of the Wheeler CFO RSUs are further subject to a time-based vesting condition\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 35\n\nEnd Page 39"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b372"], "char_count": 6, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 372, "char_end": 6, "char_start": 0, "fragment_sha256": "fec71879d5a424bddb6fed8497e6daa9fd2770479bbed3bc19e0730d1e441997", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p119", "passage_kind": "narrative", "passage_sequence": 119, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Anchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b374"], "char_count": 3912, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "70a24fb7a0dd2ff05b36dcf3167304ab6530dc8cad37dcfb043324630e1243fd", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 374, "char_end": 3912, "char_start": 0, "fragment_sha256": "52000934132be9d923920df06a1e1071e9901f734df3ffe019ef325011a58375", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p120", "passage_kind": "narrative", "passage_sequence": 120, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "with a vesting commencement date of the third anniversary of the Wheeler Start Date and shall vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary, subject to her continued employment with us on each such vesting date. The unvested Wheeler CFO RSUs are subject to vesting acceleration as described under “— Potential Payments Upon Termination or Change in Control.” 485,262 of the Wheeler CFO RSUs were further subject to a performance-based vesting condition whereby the award vested upon the date on which the 60-day volume weighted average closing price of the Company’s publicly traded class of common stock was at least $16.48. In addition, Ms. Wheeler was granted 50,160 TRSUs in February 2020 in her capacity as a member of the Opendoor Labs board of directors (the “Wheeler Director RSUs\"). The Wheeler Director RSUs vested when the liquidity event condition was satisfied in February 2021 upon the effective date of the Company's registration statement filed under the Securities Act for sale of its common stock. The Wheeler Agreement does not provide for any cash severance entitlements or benefit continuation. Andrew Low Ah Kee Offer Letter Agreement We entered into an offer letter agreement with Mr. Low Ah Kee, referred to as the Low Ah Kee Agreement, in October 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination. The Low Ah Kee Agreement provides for an unspecified term of employment and entitles Mr. Low Ah Kee to a sign-on bonus of $150,000 and a retention bonus of $150,000 (both of which have been paid), an annual base salary of $350,000 and certain TRSU and PRSU awards (as adjusted to reflect the Business Combination). Pursuant to the Low Ah Kee Agreement, Mr. Low Ah Kee was granted TRSUs and PRSUs in March 2021, the terms and conditions of which are described under “Compensation Discussion and Analysis — Compensation Elements — Equity Awards for Mr. Low Ah Kee.” The Low Ah Kee Agreement does not provide for any cash severance entitlements or benefit continuation. Daniel Morillo Offer Letter Agreement We entered into an offer letter agreement with Mr. Morillo in October 2020, which the Opendoor Labs board of directors negotiated prior to the completion of the Business Combination (the “Morillo Agreement”). The Morillo Agreement provides for an unspecified term of employment and entitles Mr. Morillo to sign-on and retention bonuses as described in “Compensation Discussion and Analysis — Sign-On and Retention Bonuses,” an annual base salary of $350,000 and certain TRSU and PRSU awards (as adjusted to reflect the Business Combination). Pursuant to the Morillo Agreement, Mr. Morillo was granted 2,102,805 TRSUs and 485,262 PRSUs in December 2020 (collectively, the “Morillo RSUs”), which will vest only if both (i) a liquidity-based vesting condition and (ii) either (a) a time-based vesting condition or (b) a performance-based vesting condition are satisfied, in each case, subject to Mr. Morillo’s continued employment with us through the applicable vesting date. The liquidity-based vesting condition was satisfied upon the completion of the Business Combination. 1,698,420 of the Morillo RSUs are further subject to a time-based vesting condition whereby 25% of the award vested on the first anniversary of Mr. Morillo’s employment start date with us (the “Morillo Start Date”) and 75% of the award vests in substantially equal quarterly installments over a three-year period thereafter. 404,385 of the Morillo RSUs are further subject to a time-based vesting condition with a vesting commencement date of the third anniversary of the Morillo Start Date and shall vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary, subject to his continued employment with us on each such vesting date."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b374"], "char_count": 1060, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ad517c2fee56f288238d80095c7c25dd90b0a5cdc4d6cfec9c474ea8f23dde0f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 374, "char_end": 4972, "char_start": 3912, "fragment_sha256": "52000934132be9d923920df06a1e1071e9901f734df3ffe019ef325011a58375", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p121", "passage_kind": "narrative", "passage_sequence": 121, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The unvested Morillo RSUs are subject to vesting acceleration as described under “— Potential Payments Upon Termination or Change in Control.” 485,262 of the Morillo RSUs were further subject to a performance-based vesting condition whereby the award vested upon the date on which the 60-day volume weighted average closing price of the Company’s publicly traded class of common stock was at least $16.48. The Morillo Agreement does not provide for any cash severance entitlements or benefit continuation. Ian Wong Offer Letter Agreement We entered into an offer letter agreement with Mr. Wong in April 2014, which was amended in September 2020 (as amended, the “Wong Agreement”). The amendment was negotiated by the Opendoor Labs board of directors prior to the completion of the Business Combination. The Wong Agreement provides for an unspecified term of employment and entitles Mr. Wong to an annual base salary of $325,000 and certain TRSU awards (as adjusted to reflect the Business Combination). 36 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b375", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b377", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b379"], "char_count": 651, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b173b716d4fbd2939c1e6279cebc52376236d5d3e0f003b040b101277d5a4a78", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 375, "char_end": 11, "char_start": 0, "fragment_sha256": "335a493d40078caae335ce97d72afd2a0aca27fae7e4645b982f18279ba54fd5", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 377, "char_end": 6, "char_start": 0, "fragment_sha256": "ea24187cbb2c8dbcd1c11f64baa41ef06eff7253a33f9b8b6362506235374a6e", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 379, "char_end": 630, "char_start": 0, "fragment_sha256": "7653de2a903cf918e9bf1a2b2fe01726d22bf79f1996e15d182dc8f690acb7da", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Carrie Wheeler Offer Letter Agreement"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p122", "passage_kind": "narrative", "passage_sequence": 122, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s77", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 40\n\nAnchor\n\nPursuant to the Wong Agreement, Mr. Wong was granted 2,426,314 TRSUs in May 2019, subject to a five-year vesting schedule, with 25% of the units subject to the award vesting in May 2020 and 1/48th of the units subject to the award vesting in successive equal monthly installments thereafter, subject to Mr. Wong’s continuous service with us through each such vesting date. The TRSU award is subject to vesting acceleration as described under “Executive Compensation Tables — Potential Payments Upon Termination or Change in Control.” The Wong Agreement does not provide for any cash severance entitlements or benefit continuation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b381"], "char_count": 590, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "572c942034d4ef2e57c20e9b41b07fc2b71415b3195b8b05e5f585468e3be2dc", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 381, "char_end": 590, "char_start": 0, "fragment_sha256": "a9f72898aec8194481349657e966d74538f6b9234c3edc185b7373679c4a1160", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p123", "passage_kind": "narrative", "passage_sequence": 123, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s78", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Our offer letter agreement with Ms. Stevens (as amended, the “Stevens Agreement”) provided for an unspecified term of employment and entitled Ms. Stevens to an annual base salary and an award of stock options. The option award vested over four years following her employment start date with 25% vesting on the first anniversary of the vesting commencement date and the remainder vesting in equal monthly installments thereafter, subject to her continued employment on each such vesting date. 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The Company's standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b385"], "char_count": 311, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "04feb896654738cf6dfa29bf984d4ec7bd481e9182a71073ebb31536a7092092", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Outstanding Equity Awards at 2021 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 385, "char_end": 311, "char_start": 0, "fragment_sha256": "1d7003d8f56f8d57d6c985d2396ddb57b5889a18dffbd0522bfe131666cac761", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Outstanding Equity Awards at 2021 Fiscal Year End"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p125", "passage_kind": "narrative", "passage_sequence": 125, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The figures in the table below show outstanding equity awards as of December 31, 2021. For awards granted prior to the completion of the Business Combination, the number of shares subject to the awards and the exercise prices for the options have been adjusted to reflect the impact of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b386"], "char_count": 2873, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d7b78bab7d2477216739fe091569391f49e93d1bcb63966aa5c9955f3d6c87ce", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b386", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | ​ | ​ | Option Awards | ​ | ​ | Stock Awards | | | | | | | | | | | | | | | | | | | | | |\n| Name | ​ | ​ | Grant Date | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Exercisable | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Unexercisable | ​ | ​ | Option Exercise Price ($) | ​ | ​ | Option Expiration Date | ​ | ​ | Number of Shares or Units of Stock That Have Not Vested (#) | ​ | ​ | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | ​ | ​ | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | ​ | ​ | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1) |\n| Eric Wu | ​ | ​ | 02/06/2020(2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 596,510 | ​ | ​ | 8,715,011 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 09/03/2020(2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 507,108 | ​ | ​ | 7,408,848 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/17/2020(3) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​12,404,812 | ​ | ​ | ​181,234,303 |\n| | ​ | ​ | 03/30/2021 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,418,787 | ​ | ​ | 64,558,478 | ​ | ​ | — | ​ | ​ | — |\n| Carrie Wheeler | ​ | ​ | 09/03/2020(4) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,402,051 | ​ | ​ | 35,093,965 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/17/2020(5) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 404,385 | ​ | ​ | 5,908,064 | ​ | ​ | — | ​ | ​ | — |\n| Andrew Low Ah Kee | ​ | ​ | 3/9/2021(6) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,481,761 | ​ | ​ | 50,868,528 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 3/9/2021(7) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​— | ​ | ​ | — | ​ | ​ | 808,771 | ​ | ​ | 11,816,144 |\n| Daniel Morillo | ​ | ​ | 12/17/2020(4) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 404,385 | ​ | ​ | 5,908,065 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/17/2020(5) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,273,815 | ​ | ​ | 18,610,437 | ​ | ​ | — | ​ | ​ | — |\n| Ian Wong | ​ | ​ | 5/28/2019(8) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​909,868 | ​ | ​ | ​13,293,171 | ​ | ​ | — | ​ | ​ | — |\n| Elizabeth Stevens | ​ | ​ | 09/29/2017 | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | 1.02 | ​ | ​ | 09/01/2024 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 09/29/2017 | ​ | ​ | 113,226 | ​ | ​ | — | ​ | ​ | 1.02 | ​ | ​ | 09/01/2024 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b387", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b388", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b389", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b391"], "char_count": 330, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2e82e66f4e9b822d65b38a722f78cbca5979b9259f408fb7589ad725c0aa7c7e", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": 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0, "fragment_sha256": "56d03b2be9105fac5209a3ebc5ac13fa6f71730ff9443d60816e4dbbebfb3f87", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Outstanding Equity Awards at 2021 Fiscal Year End"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p127", "passage_kind": "narrative", "passage_sequence": 127, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "(1) The amounts in this column were determined based on the closing market price of the Company's common stock on December 31, 2021 of $14.61. These amounts do not reflect the actual economic value that may be realized by the named executive officer.\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 37\n\nEnd Page 41\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b393"], "char_count": 3937, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7bef6b2e8fa78f110ecdc77ee1dd770611d465dd2d6ce0a93c8222f4815c39e6", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Outstanding Equity Awards at 2021 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 393, "char_end": 3937, "char_start": 0, "fragment_sha256": "69187fed428a3d1a633ed078a2456553c62080ea4a72739eb5a54e6acf982e5a", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Outstanding Equity Awards at 2021 Fiscal Year End"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p128", "passage_kind": "narrative", "passage_sequence": 128, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "(2) The TRSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable grant agreements. The liquidity event condition was satisfied upon the effective date of the Company's registration statement filed under the Securities Act for the sale of its common stock. The service-based condition will be satisfied in 16 successive equal quarterly installments following the vesting commencement date. (3) The PRSUs will vest upon (i) the occurrence of a listing event and (ii) the satisfaction of performance-based vesting conditions. The completion of the Business Combination satisfied the listing event vesting condition. The performance-based vesting condition will be satisfied, subject to Mr. Wu's continued employment with us through each applicable vesting date, as to 1/6th of the PRSUs upon the achievement of each of six predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly-traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the Wu Agreement). These milestones are $18.11, $23.54, $30.60, $39.78, $51.71 and $67.23. One-sixth of the PRSUs vested upon the achievement of the $18.11 stock price milestone in 2021. (4) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liqiudity-based vesting condition. The time-based vesting condition is satisfied as to 25% of the award on the first anniversary of the applicable employment start date and 75% of the award shall vest in substantially equal quarterly installments over a three-year period thereafter. (5) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting conditions have a vesting commencement date of the third anniversary of the applicable employment start date, and vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary, subject to continued employment with us on each such vesting date. (6) The TRSUs are subject to a four-year vesting schedule with 25% of the total number of units subject to the award having vested on November 15, 2021, the first anniversary of his vesting commencement date, and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment with us on each such vesting date. (7) The PRSUs will vest upon the satisfaction of performance-based vesting conditions. The performance-based vesting conditions will be satisfied, subject to Mr. Low Ah Kee’s continued employment with us through each applicable vesting date, as to 1/5th of the PRSUs upon the achievement of each of five predetermined share price milestones based on the 60-day volume weighted average closing price of our publicly traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the Low Ah Kee Agreement). These milestones are $23.54, $30.60, $39.78, $51.71 and $67.23. (8) The TRSUs are subject to a five-year vesting schedule with 25% of the total number of units subject to the award having vested in May 2020 and 1/48th of the total number of units vesting on a monthly basis thereafter, subject to continued employment with us on each such vesting date."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b395"], "char_count": 148, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5b830a0a14a509e20cc9d8716d9941e390041879d27a817ec8f819700fb310c8", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary 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| ​ | ​ | 4,604,298 | ​ | ​ | 93,979,691 |\n| Carrie Wheeler | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,627,263 | ​ | ​ | 26,707,177 |\n| Andrew Low Ah Kee | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,160,587 | ​ | ​ | 26,855,983 |\n| Daniel Morillo | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 909,867 | ​ | ​ | 14,358,914 |\n| Ian Wong | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,516,446 | ​ | ​ | 24,513,351 |\n| Elizabeth Stevens | ​ | ​ | 172,284 | ​ | ​ | ​2,244,406 | ​ | ​ | 402,489 | ​ | ​ | 6,233,079 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b397", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b398", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b399", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b401", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b403"], "char_count": 3309, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": 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"Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Option Exercises and Stock Vested in 2021"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p131", "passage_kind": "narrative", "passage_sequence": 131, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s81", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "(1) The amounts in this column were determined based on the closing market price of the Company's common stock on the applicable exercise or vesting date. (2) The amounts in this column were determined based on the closing market price of the Company's common stock on the trading day immediately prior to the vesting date.\n\n38 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 42\n\nAnchor\n\nPotential Payments Upon Termination or Change in Control We maintain arrangements that compensate our named executive officers in the event of certain terminations of employment or a change in control of the Company. In particular, the employment offer letters with our named executive officers provide for protections in the event of certain involuntary terminations of employment, including a termination of employment in connection with a change in control of the Company. Although certain of these offer letters provided for accelerated vesting of equity awards in connection with a change in control of the Company, we entered into written agreements with each of our named executive officers in February 2022 providing for uniform vesting acceleration terms applicable to all existing and future equity awards that are subject to service-based vesting conditions. Pursuant to the accelerated vesting agreements, notwithstanding anything in the 2014 Plan or the 2020 Plan to the contrary, if (1) we consummate a change in control (as defined in the applicable plan) and (2) in connection with or within 12 months after the change in control either (a) the named executive officer’s employment with the Company is terminated without “cause” or (b) the named executive officer resigns from the Company for “good reason” (each as defined the applicable agreement), then 100% of his or her unvested awards will become fully vested as to service. To be eligible to receive this acceleration benefit, a named executive officer must (i) continue to comply with his or her obligations under his or her employment offer letter and Confidential Information and Inventions Assignment Agreement and (ii) execute a general release of claims in favor of the Company. In the event of certain involuntary terminations of employment by Messrs. Wu and Low Ah Kee prior to the time that the performance-based vesting criteria of their PRSU awards have been satisfied, the PRSU awards will remain outstanding and vest as to performance when the applicable performance-based vesting criteria are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such performance-based vesting criteria are not satisfied by the end of such 60-day period, the PRSU awards will expire. In the event of a change in control, the performance-based vesting criteria will be determined by reference to the value of shares paid for all of the Company's common stock or, if the change in control is structured as a stock-for-stock acquisition, the value of the acquiror's shares shall be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to the consummation of such change in control. The PRSUs are not otherwise entitled to accelerated vesting in connection with a change in control. Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 39"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b404", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b406", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b408"], "char_count": 907, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e15995baf46706b7a74efe83bf1b955dd39ee957714e876667936c3ecb636647", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Option Exercises and Stock Vested in 2021"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 404, "char_end": 11, "char_start": 0, "fragment_sha256": "31e1928b1223ad544b9138899ba47cc36b5fa715b2f9b5d16196cfff1b0c4834", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Option Exercises and Stock Vested in 2021"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 406, "char_end": 6, "char_start": 0, "fragment_sha256": "7ff44a1b3ec42aa55a59119bf82e7af7f1155ee69b3a651a31df879b31ddbdbf", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Option Exercises and Stock Vested in 2021"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 408, "char_end": 886, "char_start": 0, "fragment_sha256": "1b8a560284d28663af490af4843eeac6fb5bca35949988ec8595b4468504a71c", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Option Exercises and Stock Vested in 2021"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p132", "passage_kind": "narrative", "passage_sequence": 132, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s81", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 43\n\nAnchor\n\nThe table below quantifies certain compensation and benefits that would have become payable to each of our named executive officers (i) if his or her employment had terminated on December 31, 2021 without Cause or due to resignation for Good Reason, (ii) if a Change in Control had occurred on December 31, 2021, but there was no termination of the officer's employment and (iii) if a Change in Control had occurred on December 31, 2021, immediately following which the officer's employment was terminated without Cause or due to resignation for Good Reason. The amounts shown are estimates of the amounts that would be received upon a change in control or termination of employment based on the closing market price of the Company’s common stock on December 31, 2021. The actual amounts could be determined only at the time of any actual change in control or termination of employment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b409"], "char_count": 2605, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7df42c17263a03d6536dbc99a75997269b7260d5122f5ff2bea5eeb45894efbb", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Elizabeth Stevens Offer Letter Agreement", "Confidential Information and Invention Assignment Agreements", "Option Exercises and Stock Vested in 2021"], "items": 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"sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b409", "text": "| | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Named Executive Officer | ​ | ​ | Termination Scenario | ​ | ​ | Severance ($) | ​ | ​ | Accelerated Options $ | ​ | ​ | Accelerated RSUs $(1) | ​ | ​ | Total $(1) |\n| Eric Wu | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​(2) | ​ | ​ | — |\n| | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 80,682,337(2) | ​ | ​ | 80,682,337 |\n| Carrie Wheeler | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 41,002,030 | ​ | ​ | 41,002,030 |\n| Andrew Low Ah Kee | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​(2) | ​ | ​ | — |\n| | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 50,868,528(2) | ​ | ​ | 50,868,528 |\n| Daniel Morillo | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | ​Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 24,518,502 | ​ | ​ | 24,518,502 |\n| Ian Wong | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13,293,171 | ​ | ​ | 13,293,171 |\n| Elizabeth Stevens(3) | ​ | ​ | Termination without Cause or Resignation for Good Reason | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | ​Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | Termination without Cause or Resignation for Good Reason following a Change in Control | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b410", 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The annual cash compensation amounts are payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the quarterly payment for each non-employee director is prorated for any partial quarter of service by such non-employee director. • Annual Board Service Retainer: • All Eligible Directors: $50,000 • Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) • Annual Committee Member Service Retainer: • Member of the Audit Committee: $10,000 • Member of the Compensation Committee: $7,500 • Member of the Nominating and Corporate Governance Committee: $5,000 • Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): • Chair of the Audit Committee: $20,000 • Chair of the Compensation Committee: $15,000 • Chair of the Nominating and Corporate Governance Committee: $10,000 Prior to the start of each fiscal year, a non-employee director may elect to receive 100% of his or her annual cash compensation for the next fiscal year as TRSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average Fair Market Value (as defined in the 2020 Plan) over the 20 trading days ending on the last trading day of the month preceding the month in which the TRSU grant is made (the “Share Price”). 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Each such initial grant will vest in a series of equal annual installments on the first, second and third anniversary of the date of\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 41\n\nEnd Page 45\n\nAnchor\n\ngrant, provided in each case that the non-employee director continues to be a non-employee director on such vesting date. Pursuant to this provision, director John Rice automatically received a grant, and director Cipora Herman received a grant approved by the Compensation Committee, in each case for 13,342 TRSUs in March 2021. Unless otherwise provided by the Board, at the close of business on the date of each annual meeting of our stockholders, each person who is then a non-employee director will automatically be granted a TRSU for that number of shares of common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share. 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the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the non-employee director. Amounts listed include the annual TRSU award for each non-employee director, a one-time new director TRSU award for each of Ms. Herman and Mr. Rice and the optional TRSU awards for each non-employee director who elected to receive his or her cash compensation in the form of TRSUs. The table below shows the aggregate number of unvested TRSU awards held as of December 31, 2021 by each non-employee director."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b434"], "char_count": 339, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "457960c4e3dae10d59f91e1116a00c2329cab3006e1fd2df82de5267fa8facd3", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorEXECUTIVE COMPENSATION TABLES", "Summary Compensation Table", "Equity Compensation", "2021 Director Compensation Table"], "items": [], "locators": [{"artifact_id": 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"table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b434", "text": "| | | | |\n| --- | --- | --- | --- |\n| Name | ​ | ​ | ​TRSUs Outstanding as of December 31, 2021 (#) |\n| Adam Bain | ​ | ​ | 12,277 |\n| Cipora Herman | ​ | ​ | 25,619 |\n| Jonathan Jaffe | ​ | ​ | 12,277 |\n| Pueo Keffer | ​ | ​ | 12,277 |\n| Jason Kilar | ​ | ​ | 12,277 |\n| John Rice | ​ | ​ | 25,619 |\n| Glenn Solomon | ​ | ​ | 12,277 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b435", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b436", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b438"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7f5693471edb49bacc5d42e7aa38a680ad42da96cc7b20a1258154574d52f06e", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": 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"section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s86", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "42 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 46\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b441"], "char_count": 1019, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fb7974329438914d194dbb35cb226e28235b374f9aef70e0be64e99a50ee5f7e", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], 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Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days. Percentage ownership of our voting securities is based on 623,373,775 shares of our common stock issued and outstanding as of March 18, 2022. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b442"], "char_count": 1391, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5b7fc864cf47b4c6cdc08367028d97e10513f9ed12e94b08a6c05fe5798e25d6", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 442, "char_end": 1240, "char_start": 0, "fragment_sha256": "b10cab5cad7589e30712b62b9bad74587cc8e8fcf69b77bb37a0100ea82d7775", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": 24, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p145", "passage_kind": "table", "passage_sequence": 145, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b442", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Name and Address of Beneficial Owner(1) | ​ | ​ | Total Number of Shares Beneficially Owned | ​ | ​ | Percentage of Common Stock Beneficially Owned |\n| 5% Holders | ​ | ​ | | ​ | ​ | |\n| AI LiquidRE LLC(2) | ​ | ​ | 53,598,914 | ​ | ​ | ​8.60 % |\n| The Vanguard Group(3) | ​ | ​ | 44,379,397 | ​ | ​ | ​7.12 % |\n| SVF Excalibur (Cayman) Limited(4) | ​ | ​ | 41,420,282 | ​ | ​ | ​6.64 % |\n| T. Rowe Price Associates, Inc.(5) | ​ | ​ | 36,169,638 | ​ | ​ | ​5.80 % |\n| Directors and Executive Officers | ​ | ​ | | ​ | ​ | |\n| Eric Wu(6) | ​ | ​ | ​31,381,446 | ​ | ​ | ​5.03 % |\n| Carrie Wheeler | ​ | ​ | ​1,779,049 | ​ | ​ | * |\n| ​Andrew Low Ah Kee(7) | ​ | ​ | ​958,101 | ​ | ​ | * |\n| Daniel Morillo | ​ | ​ | ​535,919 | ​ | ​ | ​* |\n| Ian Wong(8) | ​ | ​ | ​5,606,087 | ​ | ​ | * |\n| Elizabeth Stevens(9) | ​ | ​ | ​811,728 | ​ | ​ | * |\n| ​Adam Bain(10) | ​ | ​ | ​2,799,729 | ​ | ​ | * |\n| Cipora Herman(11) | ​ | ​ | ​110,511 | ​ | ​ | * |\n| Jonathan Jaffe | ​ | ​ | ​— | ​ | ​ | * |\n| Pueo Keffer(12) | ​ | ​ | ​389,845 | ​ | ​ | ​* |\n| ​Jason Kilar(13) | ​ | ​ | ​130,574 | ​ | ​ | * |\n| ​John Rice(14) | ​ | ​ | ​5,707 | ​ | ​ | ​* |\n| Glenn Solomon(15) | ​ | ​ | ​25,463,790 | ​ | ​ | 4.08 % |\n| All current directors and executive officers as a group (11 persons) | ​ | ​ | ​69,972,486 | ​ | ​ | ​11.22% |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b443", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b444", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b445", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b447"], "char_count": 1222, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a85c77a977b5eb35a8ce7b1ea39d735c6987bd904324f36450169ddcfe3cf551", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 443, "char_end": 1142, "char_start": 0, "fragment_sha256": "92de4f53821076b9404244b21269acc88fd8aaadce34263d28d70bc65427ee45", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 444, "char_end": 57, "char_start": 0, "fragment_sha256": "554da2e615554d66f8c1a6c2b97797171fffef39d68d93a39c9e95ea84df2e26", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 445, "char_end": 11, "char_start": 0, "fragment_sha256": "2c8ee1017330f451c8a3948cd557a813c503856e769dbf0ae4f7612c89325eeb", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 447, "char_end": 6, "char_start": 0, "fragment_sha256": "1231b2ee79864a3d2a9f1c8da629e56fac7bcae6c970e402ef19eeba80a2f6d4", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p146", "passage_kind": "narrative", "passage_sequence": 146, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "* Less than 1% of our outstanding common stock. (1) Unless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85281. (2) Based solely on a Schedule 13D filed with the SEC on October 6, 2021, by Access Industries Management, LLC (“AIM”), AI LiquidRE LLC (“AIL”), LBIT 2002 LLC (“LBIT”) and Len Blavatnik (collectively, the “Reporting Persons,” and each, a “Reporting Person”). 53,524,812 shares of common stock are owned directly by AIL and 74,102 shares of common stock are owned directly by LBIT and, in each case, may be deemed to be beneficially owned by AIM and Len Blavatnik because (i) AIM is the controlling entity of AIL and LBIT, respectively, and (ii) Len Blavatnik controls AIM and LBIT and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL, with respect to shares held directly by AIL, and LBIT, with respect to shares held directly by LBIT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities.\n\nOpendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 43\n\nEnd Page 47\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b449"], "char_count": 3934, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "79c65de757be10ec20c6ae68e3a7548ff3c0e9f454683c6f9075423845ebafbc", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 449, "char_end": 3934, "char_start": 0, "fragment_sha256": "d0b12af1d9243603025f9195dfaa08cae0e3139a3d4b6b5739af281c8dd30e0f", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p147", "passage_kind": "narrative", "passage_sequence": 147, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "(3) Based solely on a Schedule 13G filed with the SEC on February 10, 2022 by The Vanguard Group. The address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (4) Based solely on a Schedule 13G filed with the SEC on February 14, 2022 by SVF Excalibur (Cayman) Limited (“SVF Excalibur”), SVF Endurance (Cayman) Limited (“SVF Endurance”), SoftBank Vision Fund (AIV M1) L.P. (“AIV M1”) and SB Investment Advisers (UK) Limited (“SBIA UK”). The address for each of SVF Excalibur and SVF Endurance is c/o Walkers Corp Ltd., Cayman Corporate Centre, 27 Hospital Road George Town, Grand Cayman, KY1-9008, Cayman Islands. The address for AIV M1 is 251 Little Falls Drive, Wilmington, DE 19808. The address for SBIA UK is 69 Grosvenor Street, London W1K 3JP, United Kingdom. (5) Based solely on a Schedule 13G filed with the SEC on February 14, 2022 by T. Rowe Price Associates, Inc. The address for T. Rowe Price Associates, Inc. is 100 E. Pratt Street, Baltimore, MD 21202. (6) Includes (i) 28,652,146 shares of common stock held by Eric Wu, (ii) 2,251,441 shares of common stock held by the 2020 Wu Grantor Retained Annuity Trust and (iii) 477,859 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (7) Includes (i) 667,955 shares of common stock held by Andrew Low Ah Kee and (ii) 290,146 shares of issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (8) Includes (i) 3,937,996 shares of common stock held by Ian Wong, (ii) 1,516,446 shares of common stock held by Diana Shean Ting Chiu and (iii) 151,645 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (9) Based solely on a Form 4 filed with the SEC on August 5, 2021 and Company records. Includes (i) 698,501 shares of common stock held by Elizabeth Stevens and (ii) 113,227 shares of common stock issuable upon the exercise of options exercisable as of or within 60 days of March 18, 2022. (10) Includes (i) 29,912 shares of common stock held by Adam Bain, (ii) 1,545 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022, (iii) 225,000 shares of .common stock held by 010118 Management, L.P. (“010118”) and (iv) 2,543,272 shares held by 01 Advisors 01 LP (“01 Advisors”). Mr. Bain is a managing member of 010118 and a managing partner of 01 Advisors and may be deemed a beneficial owner of the shares of common stock held by 010118 and 01 Advisors. (11) Includes (i) 108,909 shares of common stock held by Cipora Herman and (ii) 1,602 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (12) Includes (i) 388,472 shares of common stock held by Pueo Keffer and (ii) 1,373 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (13) Includes (i) 104,938 shares of common stock held by Jason Kilar, (ii) 1,373 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022 and (iii) 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 18, 2022. (14) Includes (i) 4,448 shares of common stock held by John Rice and (ii) 1,259 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022. (15) Includes (i) 4,143 shares of common stock held by Glenn Solomon, (ii) 1,488 shares issuable pursuant to the TRSUs that will vest within 60 days of March 18, 2022, (iii) 44,496 shares of common stock held by The Solomon Family Trust, (iv) 17,442,762 shares of common stock held of record by GGV Capital V L.P. (“GGCV”), (v) 7,330,756 shares of common stock held of record by GGV Capital Select L.P. (“GGCS”) and (vi) 640,145 shares of common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (“GGCVEF”). GGV Capital V L.L.C. (“GGCV LLC”) is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (“GGCS LLC”) is the General Partner of GGCS. Mr."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b449"], "char_count": 186, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a6ab17b6df8ded3f6357f67b3c9092c3605f0cbd8ab9fa1f5cd85976dad3b41f", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 449, "char_end": 4120, "char_start": 3934, "fragment_sha256": "d0b12af1d9243603025f9195dfaa08cae0e3139a3d4b6b5739af281c8dd30e0f", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p148", "passage_kind": "narrative", "passage_sequence": 148, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s87", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Solomon is a managing director of GGCV LLC and GGCS LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares."} +{"artifact_role": 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"tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p149", "passage_kind": "narrative", "passage_sequence": 149, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Section 16(a) of the Exchange Act requires our directors, officers (as defined under Rule 16a-1(f) under the Exchange Act) and stockholders who beneficially own more than 10% of any class of our equity securities registered pursuant to Section 12 of the Exchange Act (collectively, the “Reporting Persons”) to file initial statements of beneficial ownership of securities and statements of changes in beneficial ownership of securities with respect to our equity securities with the SEC. Based solely on our review of the copies of such forms received by us and upon written representations of the Reporting Persons received by us, we believe that there has been compliance with all Section 16(a) filing requirements applicable to such Reporting Persons other than one Form 4 with one transaction for each of Ms. Wheeler and Messrs. Morillo and Wu in 2021, and one Form 4 with one transaction for Mr. Solomon in 2020, all of which were inadvertently filed late.\n\n44 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 48\n\nAnchor\n\nAnchorCERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS Policies and Procedures for Approval of Related Person Transactions Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). We have a written policy on transactions with related persons that is in conformity with the requirements for issuers having publicly held common stock that is listed on Nasdaq. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company's Head of Legal by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Head of Legal is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in the approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions. There are no related party transactions entered into since January 1, 2021 requiring disclosure. Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 45"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b458", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b460"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5a0f2f9517f2637ab9a71720479dff9a0aa9e9387604db110af086edc0b06159", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 458, "char_end": 11, "char_start": 0, "fragment_sha256": "7c767c8728fee4ac9eb4d2ca48ddc6bf687c1e1985fd88d182378d327cd11c62", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 460, "char_end": 6, "char_start": 0, "fragment_sha256": "ae2a90f37e15cf003efdb5ed290c770f20d60d999e8282932c93bd3bd089ff5d", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p150", "passage_kind": "narrative", "passage_sequence": 150, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "End Page 49\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b462"], "char_count": 3925, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d2cd36823281cf330a4a47c39c02cb402d236b50a72d0fb0452a4c73efa8b8b1", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 462, "char_end": 3925, "char_start": 0, "fragment_sha256": "941b6e808c247da6136c453f379f86d37a2dd3abc1a5e2c166704fcf478ab19d", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p151", "passage_kind": "narrative", "passage_sequence": 151, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "AnchorPROPOSAL TWO — RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2022. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, our Board believes that it is advisable to give stockholders an opportunity to ratify this appointment. If this proposal is not approved at the Annual Meeting, our Audit Committee will reconsider its appointment of Deloitte & Touche LLP. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2021. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company. As previously disclosed in the Form 8-K filed with the SEC on December 18, 2020 (the “Form 8-K”), on December 18, 2020, the Audit Committee approved the engagement of Deloitte & Touche LLP as the Company's independent registered public accounting firm, effective immediately. On the same date, the Audit Committee dismissed Marcum LLP (“Marcum”) as the Company's independent registered public accounting firm. In connection with the Business Combination, SCH had engaged Marcum to audit its financial statements included in SCH's registration statement on Form S-4 filed with the SEC. The report of Marcum on the financial statements of SCH as of December 31, 2019, and for the period from October 18, 2019 (inception) through December 31, 2019, did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainties, audit scope or accounting principles, except for an explanatory paragraph in such report regarding substantial doubt about the Company's ability to continue as a going concern. During the period from October 18, 2019 (inception) to December 31, 2019, and the subsequent interim period through December 18, 2020, there were no disagreements between SCH and Marcum on any matter of accounting principles or practices, financial disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Marcum, would have caused it to make reference to the subject matter of the disagreements in its reports on SCH's financial statements for such period. During the period from October 18, 2019 (inception) to December 31, 2019, and the subsequent interim period through December 18, 2020, there were no “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K under the Exchange Act). During the years ended December 31, 2019 and December 31, 2018 and the subsequent interim period through December 18, 2020, we did not consult with Deloitte with respect to (i) the application of accounting principles to a specified transaction, either completed or proposed, the type of audit opinion that might be rendered on our financial statements, and neither a written report nor oral advice was provided to us that Deloitte concluded was an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any other matter that was the subject of a disagreement or a reportable event (as defined above). We provided Marcum with a copy of the foregoing disclosures and requested that Marcum furnish us with a letter addressed to the SEC stating whether it agrees with the statements made by Opendoor set forth above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b462"], "char_count": 94, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7e55d99954247d753668836662871989de164ef46ed12676ff12a2f319c70d4c", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 462, "char_end": 4019, "char_start": 3925, "fragment_sha256": "941b6e808c247da6136c453f379f86d37a2dd3abc1a5e2c166704fcf478ab19d", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p152", "passage_kind": "narrative", "passage_sequence": 152, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s88", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p153", "passage_kind": "narrative", "passage_sequence": 153, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s89", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Board recommends a vote “FOR” the ratification of the appointment by the Audit Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2022.\n\n46 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 50\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b471"], "char_count": 208, "cik10": "0001801169", 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"norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b472", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Fee Category (in thousands) | ​ | ​ | 2021 | ​ | ​ | 2020 |\n| Audit Fees (1) | ​ | ​ | $2,940 | ​ | ​ | $1,217 |\n| Audit-Related Fees (2) | ​ | ​ | 778 | ​ | ​ | 2,839 |\n| Tax Fees (3) | ​ | ​ | ​437 | ​ | ​ | 469 |\n| All Other Fees (4) | ​ | ​ | 60 | ​ | ​ | — |\n| Total Fees | ​ | ​ | ​$4,215 | ​ | ​ | $4,525 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b473"], "char_count": 654, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c79c2318b1ae291a121da6914dbf4d86c5449966bd208a1af44dbdaf53661ddf", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": 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(4) All other fees consist of fees for all other services not included in the categories set forth above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b475"], "char_count": 1404, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bf4041f78955b00befa51749371245abc115239640870b50f601a5c563b862d8", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Pre-Approval Policies and Procedures"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 475, "char_end": 1404, "char_start": 0, "fragment_sha256": "d2e2e8f7788942d26c1290acf134dcbfb6e5dd47ed33106c84e7d54d4533a3b8", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Pre-Approval Policies and Procedures"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p157", "passage_kind": "narrative", "passage_sequence": 157, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s91", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Audit Committee has adopted a policy (the “Pre-Approval Policy”) that sets forth the procedures and conditions pursuant to which audit and non-audit services proposed to be performed by the independent auditor may be pre-approved. 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For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC's rules on auditor independence. All of the services of Deloitte & Touche LLP for 2021 and 2020 described above were pre-approved by the Audit Committee."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b477"], "char_count": 1867, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5ec00be56fabc31d176608cf0569f942db9d6d9a8ee574693496be4de4ecb59a", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 477, "char_end": 1867, "char_start": 0, "fragment_sha256": "c953f28337e5262b25be62ae97d4aa521ab57c08eedb6d6959e0f80492819b03", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p158", "passage_kind": "narrative", "passage_sequence": 158, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the “Company”) for the fiscal year ended December 31, 2021 and has discussed these financial statements with management and the Company’s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company’s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (“PCAOB”) and the Securities and Exchange Commission. The Company’s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm’s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Cipora Herman (Chair) Adam Bain Pueo Keffer"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b478", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b479", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b481", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b483"], "char_count": 1980, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "501c9a93be5fb32ed14b5cbbdd147b6ebdc7feaed376bd2c934c26f07f9bf7cc", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 478, "char_end": 57, "char_start": 0, "fragment_sha256": "05a43f15d060da186355c530701f5bc834e6253573365d1fa2d9b403956c8047", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 479, "char_end": 11, "char_start": 0, "fragment_sha256": "c5f0b83a5cb6434b396430defb1e886b5afaaa6f375b445552692bd7a2cf53aa", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 481, "char_end": 6, "char_start": 0, "fragment_sha256": "a1a2a71d57c224440aa3fe3f3aeb77435af4988e1d32c8e4d081e218656d384d", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 483, "char_end": 1900, "char_start": 0, "fragment_sha256": "15e93acb193c64190285141b4d24ca560c8e868f0a47085222a44fb3a8d72826", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p159", "passage_kind": "narrative", "passage_sequence": 159, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2022 Proxy Statement ​ ​ 47\n\nEnd Page 51\n\nAnchor\n\nAnchorPROPOSAL THREE — APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS Background As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a “Say-on-Pay Vote”, gives our stockholders the opportunity to express their views on our named executive officers' compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the “Executive Compensation” section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. The next Say-on-Pay Vote will occur at the 2023 annual meeting of stockholders. Accordingly, we ask our stockholders to vote “FOR” the following resolution at the Annual Meeting: “RESOLVED, that the stockholders of Opendoor Technologies Inc. approve, on an advisory (non-binding) basis, the 2021 compensation of Opendoor Technologies Inc.'s named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.'s proxy statement for the Annual Meeting of Stockholders.”"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b485", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b486", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b487", "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b489"], "char_count": 444, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6376296b8d7ea1c7c75f3fb869b3502f00c052f0719c2b8e569500f78b67f8ea", 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null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 489, "char_end": 6, "char_start": 0, "fragment_sha256": "ab523dd64bd2a0e1b56dcf6202ae76199f2f4712d335be6c1e7148a6ee401c13", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Board Recommendation"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p160", "passage_kind": "narrative", "passage_sequence": 160, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Our Board unanimously recommends a vote “FOR” the resolution to approve, on an advisory (non-binding) basis, the 2021 compensation of our named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.'s proxy statement for the Annual Meeting of Stockholders.\n\n48 ​ ​ Opendoor Technologies Inc. // 2022 Proxy Statement\n\nEnd Page 52\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b491"], "char_count": 3830, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "69eb6be7ef2c15206b554762e84475af157c224ffa9740fa72cc20013bf03b34", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 491, "char_end": 3830, "char_start": 0, "fragment_sha256": "e449d6129b9a9a21cd2c0a0882d198cee8e565397cde8f550ba3af112715fde5", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p161", "passage_kind": "narrative", "passage_sequence": 161, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "AnchorADDITIONAL INFORMATION Stockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2023 annual meeting of stockholders pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 9, 2022. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Vanessa Gage. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2023 annual meeting of stockholders, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than February 24, 2023 and not before January 25, 2023. The next Say-on-Pay Vote will occur at the 2023 annual meeting of stockholders. However, if the 2023 annual meeting of stockholders is more than 30 days earlier, or more than 60 days later, than the first anniversary of the Annual Meeting, notice must be so delivered or received no earlier than the 120th day prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting and the 10th day following the date on which public disclosure of the date of such annual meeting was made. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2023 annual meeting of stockholders. Householding of Annual Meeting Materials Under the rules adopted by the SEC, we may deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as “householding” and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of the proxy statement or annual report, contact Broadridge Financial Solutions, Inc. by calling 1-866-540-7095 or in writing at 51 Mercedes Way, Edgewood, New York 11717, Attention: Householding Department. In addition, if you currently are a stockholder who shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household, you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address. Other Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#b491"], "char_count": 773, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b971000b00bb6dffdf7c8673228a47f811464e38170f0887b655b4a53cb5a5be", "derivation_id": "a2d4ca641f796e68c4d3dd8b506a118445f6cb3c113de3f694aae5bdf70dc23e", "document_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2022-04-08", "filing_id": "sec:0001801169:0001140361-22-013800", "flags": [], "form": "DEF 14A", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "block_sequence": 491, "char_end": 4603, "char_start": 3830, "fragment_sha256": "e449d6129b9a9a21cd2c0a0882d198cee8e565397cde8f550ba3af112715fde5", "heading_path": ["AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT", "Delinquent Section 16(a) Reports", "Board Recommendation", "Principal Accountant Fees and Services", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#p162", "passage_kind": "narrative", "passage_sequence": 162, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2022-05-25", "section_id": "norm:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-22-013800:ny20001092x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036122013800/ny20001092x1_def14a.htm", "table_id": null, "text": "Solicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. 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Any stockholder needing assistance in voting their shares should contact MacKenzie Partners, Inc. at (800) 322-2885 (Toll Free) or via email at proxy@mackenziepartners.com. Certain information contained in this proxy statement relating to the occupations and security holdings of our directors and officers is based upon information received from the individual directors and officers.\n\nWE WILL FURNISH, WITHOUT CHARGE, A COPY OF OUR ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2021, INCLUDING CONSOLIDATED FINANCIAL STATEMENTS BUT NOT INCLUDING EXHIBITS, TO EACH OF OUR STOCKHOLDERS OF RECORD AS OF MARCH 29, 2022, AND TO EACH BENEFICIAL STOCKHOLDER AS OF THAT DATE UPON WRITTEN REQUEST MADE TO VANESSA GAGE, SECRETARY, OPENDOOR TECHNOLOGIES INC., 410 N. SCOTTSDALE ROAD, SUITE 1600, TEMPE, ARIZONA 85281. A REASONABLE FEE WILL BE CHARGED FOR COPIES OF REQUESTED EXHIBITS.\n\nWHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING ELECTRONICALLY, WE URGE YOU TO VOTE YOUR SHARES VIA THE TOLL-FREE TELEPHONE NUMBER OR OVER THE INTERNET, AS DESCRIBED IN THIS PROXY STATEMENT. IF YOU RECEIVED A COPY OF THE PROXY CARD BY MAIL, YOU MAY SIGN, DATE AND MAIL THE PROXY CARD IN THE ENCLOSED RETURN ENVELOPE. 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The annual meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the annual meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2023. For further information on how to participate in the meeting, please see \u201cGeneral Information About the Annual Meeting & This Proxy Statement\u201d in the accompanying proxy statement. We are pleased to make our annual report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission\u2019s Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the annual meeting regardless of whether you plan to attend virtually. The accompanying proxy statement contains information about the matters on which you are being asked to vote, as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors. Thank you for your investment in Opendoor. We appreciate your support. Sincerely," + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b22", + "block_sequence": 22, + "block_sha256": "578709f97e95b78bf5b55ec17a00d1db7936cde18c568fc11423182b8b31a750", + "block_type": "paragraph", + "char_count": 64, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 22, + "char_end": 64, + "char_start": 0, + "fragment_sha256": "44e918de4738997bd78c9e12779816c836ef09ef70ee107f416a66f54f60679c", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "OPENDOOR TECHNOLOGIES INC.", + "Tempe, Arizona 85281", + "AnchorLETTER TO STOCKHOLDERS FROM THE CHIEF EXECUTIVE OFFICER" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s11", + "table": null, + "text": "Carrie Wheeler Chief Executive Officer & Director April 27, 2023" + }, + { + "block_id": 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To ensure that a quorum is present at the annual meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the annual meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the annual meeting, you will be able to vote electronically, even if you have previously submitted your proxy." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b55", + "block_sequence": 55, + "block_sha256": "8a47d2ab8725131ebf30671c5f409d249257b9532b8e767f8194c252e6e9704e", + "block_type": "paragraph", + "char_count": 1280, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 55, + "char_end": 1280, + "char_start": 0, + "fragment_sha256": "2d47069bdf89dd4b13d7cec9b6b2b66072fa73f284b4f339edf85d61f1e6d616", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "To Our Stockholders: NOTICE IS HEREBY GIVEN that the 2023 Annual Meeting of Stockholders (the \u201cAnnual Meeting\u201d) of Opendoor Technologies Inc. (the \u201cCompany\u201d or \u201cOpendoor\u201d) will be held on Wednesday, June 14, 2023, at 9:30 a.m. Pacific Time. The Annual Meeting will be a virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/OPEN2023 and enter your 16-digit control number included in this Notice of Internet Availability of Proxy Materials (this \u201cInternet Notice\u201d), your proxy card or the instructions that accompanied your proxy materials. You will not be able to attend the Annual Meeting physically. If you wish to attend the Annual Meeting, detailed instructions are provided under \u201cHow do I attend this year\u2019s virtual Annual Meeting?\u201d on page 9 of the accompanying proxy statement. We have also provided information regarding how stockholders can engage during the Annual Meeting, including how they can vote, ask questions, request technical support and access information following the Annual Meeting within the accompanying proxy statement. At the Annual Meeting, stockholders will consider and vote on the following matters:" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b56", + "block_sequence": 56, + "block_sha256": "c588f6c77de245c0d44452a841bc08c268cc17de998bd9488c702db1363c52f1", + "block_type": "image", + "char_count": 551, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 56, + "char_end": 551, + "char_start": 0, + "fragment_sha256": "2b5e03e9fff51fb3b3958bb7379016b83063db86ec87193eb8c7276711cb201c", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "MATTER \u200b \u200b \u200b \u200b The election of Jason Kilar, Carrie Wheeler and Eric Wu to hold office as Class III members of the Board of Directors, each to serve until the 2026 Annual Meeting of Stockholders. \u200b \u200b The ratification of the appointment by the Audit Committee of the Board of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023. \u200b \u200b The approval, on an advisory (non-binding) basis, of the compensation of our named executive officers, as disclosed in the accompanying proxy statement." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b57", + "block_sequence": 57, + "block_sha256": "eb66e9e37a9db999f2bae59be9a13c1a3854083e0721af67b7bd57208c43b874", + "block_type": "paragraph", + "char_count": 983, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 57, + "char_end": 983, + "char_start": 0, + "fragment_sha256": "9f3c45a86f10e3f2f6d165b6a935505d7451f78e3eee4937347abc5351471198", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. Information relevant to these matters is set forth in the accompanying proxy statement. Stockholders of record of our common stock as of close of business on Monday, April 17, 2023 (the \u201cRecord Date\u201d), are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will also be available to stockholders during the Annual Meeting at www.virtualshareholdermeeting.com/OPEN2023." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b58", + "block_sequence": 58, + "block_sha256": "42c77d54e102694a7241c2b89ee19e770fe9662f9dc357571670de7819f34f36", + "block_type": "paragraph", + "char_count": 10, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 58, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "ff1dc79258e5d014c6ea370b829058de9f4bbbdaabfdb5dd8aa410a824d5f2e2", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "End Page 5" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b59", + "block_sequence": 59, + "block_sha256": "45002a442dacae057cfe4bc4f0e0ea5d0114ef46a7ec5f27bdd174076fe92582", + "block_type": "page_number", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 59, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "6a8b393342b4295785bd1faf3264e26547e6633b7f42abb6bd7238058d1e305a", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "Begin Page 6" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b60", + "block_sequence": 60, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 60, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "0266413fcf0e3a6625258a024fcb7c16b407aff97c39d8d763c9ca7022528ea3", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b61", + "block_sequence": 61, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 61, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b62", + "block_sequence": 62, + "block_sha256": "31a3115e5cf03227b946d659342bbd31555474ee7ac9b24aa6bcbe3d70661f26", + "block_type": "paragraph", + "char_count": 1333, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 62, + "char_end": 1333, + "char_start": 0, + "fragment_sha256": "24200a74a519e02d43fcc774cd61ff8cae42c2aa24d98f5177a2b9b213c3951a", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "On or about April 27, 2023, we expect to mail to our stockholders the Internet Notice containing instructions on how to access this proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2022 (our \u201c2022 Annual Report\u201d). The Internet Notice provides instructions on how to vote via the Internet or by telephone and how to receive a paper copy of our proxy materials. It is important that your shares be represented regardless of the number of shares of common stock you may hold. Whether or not you plan to attend the virtual Annual Meeting, we urge you to vote your shares via the toll-free telephone number or over the Internet, as described in the enclosed materials. If you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed return envelope. Promptly voting your shares will ensure the presence of a quorum at the Annual Meeting and will save us the expense of further solicitation. Submitting your proxy now will not prevent you from voting your shares at the Annual Meeting if you desire to do so, as your proxy is revocable at your option. Please note, however, that if your shares are held of record by a broker, bank or other nominee and you wish to vote at the Annual Meeting, you must obtain a proxy issued in your name from that record holder." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b63", + "block_sequence": 63, + "block_sha256": "48ebdbb4f0226f4414f94141604306db38affe9426bb1f977158010c351b2c03", + "block_type": "paragraph", + "char_count": 300, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 63, + "char_end": 300, + "char_start": 0, + "fragment_sha256": "5610dcad89f469908287dd5aa46138c1783dccdca0198fec6b5653116a4c1073", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to Be Held on Wednesday, June 14, 2023, at www.virtualshareholdermeeting.com/OPEN2023: This proxy statement and our 2022 Annual Report are available for viewing and downloading at www.proxyvote.com." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b64", + "block_sequence": 64, + "block_sha256": "d1f3af219ec18208f964cadd9902e70ce24dafc56e538b20e22c902389844964", + "block_type": "paragraph", + "char_count": 35, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 64, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "82bf03a4168c5b1ba703367f2bcd1d90e53c03c29f8e6c478f1da300d70dbda7", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", + "table": null, + "text": "By Order of the Board of Directors," + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b65", + "block_sequence": 65, + "block_sha256": "ba7939e8638bcee9f44094ccf2046ef436d7cca05a9b313a17376c660819ec83", + "block_type": "paragraph", + "char_count": 60, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 65, + "char_end": 60, + "char_start": 0, + "fragment_sha256": "f62b1284cae6819d2025a6d53ced779cb59e7b05728fb8d47a75e24a865f7b2e", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2023" + ], + "table_index": null, + "tag_name": 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the primary functions of our Board is to provide oversight and strategic guidance to senior management, including overseeing management\u2019s performance relative to our goals and objectives and ensuring that the long-term interests of our stockholders are being served. It is therefore essential that the Board be composed of directors who are qualified to effectively support our growth and commercial strategy. 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(2) Significant public company governance, risk management and compliance experience, including experience serving on a board of directors of similar complexity to Opendoor. (3) Served as a Chief Executive Officer, Chief Financial Officer or other executive officer of a public company. The following table discloses diversity information concerning our directors as required by the listing rules of The Nasdaq Stock Market LLC (\u201cNasdaq\u201d). The information is provided in aggregate form based on voluntary self-identification by each director collected in advance of the date of this proxy statement. (4) Self-identifies as having diverse characteristics (race, gender, ethnicity, religion, nationality, disability, sexual orientation or cultural background). The following table discloses diversity information concerning our directors as required by Nasdaq listing rules. 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The Board regularly reviews our governance practices, including those outlined in our Corporate Governance Guidelines, to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b96", + "block_sequence": 96, + "block_sha256": "234736395c5b2eab6c2516ba088de0febe67bd8fb7863c03dca5edd55b059c87", + "block_type": "table", + "char_count": 2275, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 96, + "char_end": 2275, + "char_start": 0, + "fragment_sha256": "50f32ac1f0eb47ea110d0dfceeb8fdad15c72e442bb3bbe19eb00a256e6be3ca", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorCorporate Governance Highlights" + ], + "table_index": 6, + "tag_name": "table" + 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"table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s31", + "table": null, + "text": "We maintain a market-competitive compensation program which enables us to attract, motivate and retain highly qualified executives who can achieve our business objectives. In addition, our program is heavily weighted towards equity compensation, thereby enabling us to closely align the interests of our executive officers with the interests of our stockholders. To ensure that we are able to achieve these objectives, we adhere to the following best practices:" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b104", + "block_sequence": 104, + "block_sha256": "92574c788a275713af1390adee45cc140ad82d91e66fdb208f57f2d2620b69ad", + "block_type": "table", + "char_count": 1184, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 104, + "char_end": 1184, + "char_start": 0, + "fragment_sha256": "89f03afab3a6aed2a7fa19c01f7ff9773509a34ef6541020f971232499e6c8d1", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorExecutive Compensation Highlights" + ], + "table_index": 7, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s31", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| Compensation Committee | \u200b | \u200b | \u2022 Consists solely of independent directors. \u2022 Retains its own independent compensation consultant that performs no other consulting or other services for Opendoor. \u2022 Conducts annual review of compens\u2026 |\n| Other Elements of Compensation Program Design | \u200b | \u200b | \u2022 Change-in-control payments and benefits for executive officers are double-trigger arrangements. \u2022 Annual stockholder advisory vote on named executive officer compensation. \u2022 No tax reimbursement pa\u2026 |", + "n_cols": 4, + "n_rows": 2, + "plain_text": "Compensation Committee | \u200b | \u200b | \u2022 Consists solely of independent directors. \u2022 Retains its own independent compensation consultant that performs no other consulting or other services for Opendoor. \u2022 Conducts annual review of compensation strategy and program, including review and determination of compensation peer group used for comparative purposes.\nOther Elements of Compensation Program Design | \u200b | \u200b | \u2022 Change-in-control payments and benefits for executive officers are double-trigger arrangements. \u2022 Annual stockholder advisory vote on named executive officer compensation. \u2022 No tax reimbursement payments (including gross ups) on severance or change in control payments or benefits. \u2022 No pension arrangements or retirement plans or arrangements offered to executive officers different from or in addition to those offered to other employees. \u2022 Executive officers participate in broad-based, company-sponsored health and welfare benefit programs on the same basis as other full-time, salaried employees. \u2022 Executive officers and other employees prohibited from hedging their interests in Opendoor equity securities. \u2022 Executive officers subject to stock ownership guidelines.", + "rows": [ + [ + "Compensation Committee", + "\u200b", + "\u200b", + "\u2022 Consists solely of independent directors. \u2022 Retains its own independent compensation consultant that performs no other consulting or other services for Opendoor. \u2022 Conducts annual review of compensation strategy and program, including review and determination of compensation peer group used for comparative purposes." + ], + [ + "Other Elements of Compensation Program Design", + "\u200b", + "\u200b", + "\u2022 Change-in-control payments and benefits for executive officers are double-trigger arrangements. \u2022 Annual stockholder advisory vote on named executive officer compensation. \u2022 No tax reimbursement payments (including gross ups) on severance or change in control payments or benefits. \u2022 No pension arrangements or retirement plans or arrangements offered to executive officers different from or in addition to those offered to other employees. \u2022 Executive officers participate in broad-based, company-sponsored health and welfare benefit programs on the same basis as other full-time, salaried employees. \u2022 Executive officers and other employees prohibited from hedging their interests in Opendoor equity securities. \u2022 Executive officers subject to stock ownership guidelines." + ] + ], + "table_index": 7, + "table_kind": "unknown" + }, + "text": "Compensation Committee | \u200b | \u200b | \u2022 Consists solely of independent directors. \u2022 Retains its own independent compensation consultant that performs no other consulting or other services for Opendoor. \u2022 Conducts annual review of compensation strategy and program, including review and determination of compensation peer group used for comparative purposes.\nOther Elements of Compensation Program Design | \u200b | \u200b | \u2022 Change-in-control payments and benefits for executive officers are double-trigger arrangements. \u2022 Annual stockholder advisory vote on named executive officer compensation. \u2022 No tax reimbursement payments (including gross ups) on severance or change in control payments or benefits. \u2022 No pension arrangements or retirement plans or arrangements offered to executive officers different from or in addition to those offered to other employees. \u2022 Executive officers participate in broad-based, company-sponsored health and welfare benefit programs on the same basis as other full-time, salaried employees. \u2022 Executive officers and other employees prohibited from hedging their interests in Opendoor equity securities. \u2022 Executive officers subject to stock ownership guidelines." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b105", + "block_sequence": 105, + "block_sha256": "dd095c8da7bc4b4d304bf1676ab2b1240ed373e3d0bf4feebc405205e4b59653", + "block_type": "heading", + "char_count": 28, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 105, + 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We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to stockholders. As we continue to grow as a public company, we will continue to engage with our stockholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with our stockholders to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance and business practices and public disclosures." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b107", + "block_sequence": 107, + "block_sha256": "06af8e3626b31c515f03c1b937f57e31d7a254b8b1ff245f2d5572c927791ec5", + "block_type": "heading", + "char_count": 26, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 107, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "b70ac4a3ffefa9b72a1c1c5162c4c01d12ab8df7c69ef42d14094bac801b3d7f", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorBusiness Combination" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s33", + "table": null, + "text": "AnchorBusiness Combination" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b108", + "block_sequence": 108, + "block_sha256": "dee90d3100dccebd72927f3c4deacb6ed203795799faf10120b181860436942f", + "block_type": "paragraph", + "char_count": 849, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 108, + "char_end": 849, + "char_start": 0, + "fragment_sha256": "577d303ff0fd553077d4659d7cad553ecfc9695bd0c46329d7c7d380b55dfb84", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorBusiness Combination" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s33", + "table": null, + "text": "Opendoor was formed through a business combination with Social Capital Hedosophia Holdings Corp. II (\u201cSCH\u201d), a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the \u201cBusiness Combination\u201d). The Business Combination, pursuant to which Opendoor Labs Inc. became a wholly owned subsidiary of SCH and SCH changed its name from \u201cSocial Capital Hedosophia Holdings Corp. II\u201d to \u201cOpendoor Technologies Inc.,\u201d was completed on December 18, 2020. In this proxy statement, unless the context requires otherwise, references to \u201cOpendoor,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus\u201d and \u201cour,\u201d and similar references, refer to Opendoor Technologies Inc. and its wholly owned subsidiaries following the Business Combination." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b109", + "block_sequence": 109, + "block_sha256": "cc0a0db36e98fda81425c008dc159f2b30164aab896db812fe27fb4ac6b28edf", + "block_type": "paragraph", + "char_count": 56, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 109, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "cbf304f2aab23b07438fb021edadf7f7cfa926b6f3d3db13af36e9e923896c95", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorBusiness Combination" + ], + 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If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials. Who is entitled to vote at the Annual Meeting? Holders of record of our common stock as of the Record Date will be entitled to notice of, and such stockholders and holders of a valid proxy will be entitled to vote at, the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. As of the Record Date, 647,414,581 shares of our common stock (\u201cCommon Stock\u201d) were issued and outstanding and entitled to vote at the Annual Meeting. Each share of Common Stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will also be available to stockholders during the Annual Meeting at www.virtualshareholdermeeting.com/OPEN2023. Stockholder of Record: Shares Registered in Your Name Each holder of record of Common Stock on the Record Date will be entitled to one vote for each share held on all matters to be voted upon at the virtual Annual Meeting. As a stockholder of record, you may vote at the virtual Annual Meeting, or prior to the Annual Meeting, vote through the Internet or by telephone, or by mail using a proxy card that you received or that you may request. See \u201cHow do I vote my shares if I am a stockholder of record?\u201d below. Whether or not you plan to attend the virtual Annual Meeting, we urge you vote by proxy through the Internet or by telephone as instructed below, or by completing a proxy card that you may request or that we may elect to deliver at a later time. Stockholders who attend the virtual Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2023 to vote during the virtual Annual Meeting. The stock transfer books will not be closed between the Record Date and the Annual Meeting date. A complete list of stockholders entitled to vote at the virtual Annual Meeting will be available for examination at our principal executive offices at the address listed above for a period of ten days prior to the virtual Annual Meeting and will be available on the virtual meeting site at www.virtualshareholdermeeting.com/OPEN2023. Beneficial Owner: Shares Registered in the Name of a Broker or Bank If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner of shares held in \u201cstreet name\u201d and the Notice is being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting during the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend the virtual Annual Meeting. However, since you are not the stockholder of record, you may only vote your shares during the virtual Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2023 to vote during the Annual Meeting. What is the difference between being a \u201crecord holder\u201d and holding shares in \u201cstreet name\u201d? A record holder holds shares in their name. Shares held in \u201cstreet name\u201d means shares that are held in the name of a bank or broker on a person\u2019s behalf. Opendoor Technologies Inc. // 2023 Proxy Statement \u200b \u200b 7" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b149", + "block_sequence": 149, + "block_sha256": "27f4bb8ea88aec4ff0ed9dfbfaeed188fcb9af9607eb3aa699479d25c4da4769", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 149, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "0644081facedf82075af053c450530cc5948464ac286b3f34d729bcd5341006b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the internet?" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s48", + "table": null, + "text": "End Page 13" + }, + { + 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You may vote by submitting your proxy over the Internet, by telephone or by mail, or you may vote electronically during the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b155", + "block_sequence": 155, + "block_sha256": "11f4fe8571f41e39ad1f1700025c6ae7b96a625e7b0d54e9d6b0e0785e87ccb3", + "block_type": "image", + "char_count": 644, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 155, + "char_end": 644, + "char_start": 0, + "fragment_sha256": "55dd525806abc317c39a8a1c527835e23c20a41bd9045f9e912f266d432499d8", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How do I vote my shares if I am a stockholder of record?" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s49", + "table": null, + "text": "\u200b \u200b \u200b \u200b \u200b \u200b By Internet \u200b \u200b By Telephone \u200b \u200b By Mail \u200b \u200b During the Meeting You may vote your shares from any location in the world at www.proxyvote.com (you will need your 16-digit control number) \u200b \u200b You may vote your shares by calling 1-800-690-6903 and following the instructions on the proxy card. \u200b \u200b If you received a proxy card by mail, you may vote by completing, dating and signing the proxy card. \u200b \u200b If you wish to vote your shares electronically at the Annual Meeting, you will need to visit www.virtualshareholdermeeting.com/ OPEN2023 during the Annual Meeting while the polls are open (you will need your 16-digit control number)" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b156", + "block_sequence": 156, + "block_sha256": "a6cc642a5afce3e35c661cd83b5816850dbf25ff39940fb6b2a6010972668af7", + "block_type": "paragraph", + "char_count": 233, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 156, + "char_end": 233, + "char_start": 0, + "fragment_sha256": "090d51d7d02ae3e1655172e303a8f91d52a47c8913c5b653daac5fa3b64c2893", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How do I vote my shares if I am a stockholder of record?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s49", + "table": null, + "text": "Internet and telephone voting facilities for stockholders of record will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on June 13, 2023. We encourage stockholders to submit their proxy via telephone or online." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b157", + "block_sequence": 157, + "block_sha256": "8a1844da4925f57faa84d1f49e9304230619a7982af2c32d78c51512bbcbe038", + "block_type": "heading", + "char_count": 61, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 157, + "char_end": 61, + "char_start": 0, + "fragment_sha256": "66fe50e92f30b55bc825eaf2aeb00faa75e3481478fdf9169b633f259406abe0", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Am I entitled to vote if my shares are held in \u201cstreet name\u201d?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s50", + "table": null, + "text": "Am I entitled to vote if my shares are held in \u201cstreet name\u201d?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b158", + "block_sequence": 158, + "block_sha256": "1965c943bfa083014ae7d5683e6edf06ffd4c39c68fd9518f10361699892cb28", + "block_type": "paragraph", + "char_count": 2209, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 158, + "char_end": 2209, + "char_start": 0, + "fragment_sha256": "c37124908d1e2758feff8b8545abe56db1a23607e0df4510690a116909b1b462", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Am I entitled to vote if my shares are held in \u201cstreet name\u201d?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s50", + "table": null, + "text": "If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in \u201cstreet name\u201d), you should contact your bank or broker to obtain your control number or otherwise vote through the bank or broker. The organization holding your account is considered to be the stockholder of record for purposes of voting at the virtual Annual Meeting. As a beneficial owner, you should have received an Internet Notice or voting instructions from the broker or other nominee holding your shares. You should follow the instructions in the Internet Notice or voting instructions provided by your broker or nominee in order to instruct your broker or other nominee on how to vote your shares. The availability of telephone and Internet voting will depend on the voting process of the broker or nominee. Please contact your bank, broker or other agent if you have questions about their instructions on how to vote your shares. Please also note that since you are not the stockholder of record, you may only vote your shares during the virtual Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the virtual Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2023 to vote during the virtual Annual Meeting. You will need the 16-Digit Control Number included on your Internet Notice, your proxy card (if you received a printed copy of the proxy materials) or the instructions that accompanied your proxy materials to join the virtual Annual Meeting. If you do not provide your broker or bank with instructions on how to vote your shares, your broker or bank will be able to vote your shares with respect to the ratification of the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023 (Proposal 2) but not for Proposal 1 (Election of Directors) or Proposal 3 (Say-on-Pay vote). For more information, see \u201cWhat happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?\u201d and \u201cWhat are broker non-votes?\u201d below." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b159", + "block_sequence": 159, + "block_sha256": "a93182c218654f40aec28156d4b53eee991d950c095d02e6f22d9136fc1d5a47", + "block_type": "heading", + "char_count": 59, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 159, + "char_end": 59, + "char_start": 0, + "fragment_sha256": "4cc9beb9a97516803ac2198405489e48be6fae6d78fa4adbe49e1db69939cfce", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Will any other business be conducted at the Annual Meeting?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s51", + "table": null, + "text": "Will any other business be conducted at the Annual Meeting?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b160", + "block_sequence": 160, + "block_sha256": "0b8ce3ac3678b8b3d07f71f52e069a95ad147bf14df670bfc1a1b07b88ff324a", + "block_type": "paragraph", + "char_count": 290, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 160, + "char_end": 290, + "char_start": 0, + "fragment_sha256": "1b28669f5e2112271c8af0ccea7e577dfb5f160af47c5c6af863e5ee888dd314", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Will any other business be conducted at the Annual Meeting?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s51", + "table": null, + "text": "We know of no other business that will be presented at the Annual Meeting. 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The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. Each other proposal to be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in \u201cstreet name\u201d for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b182", + "block_sequence": 182, + "block_sha256": "6e4b97e99275e02768d773d739c79f87cfebae64d0308415e32f2bcd58250c70", + "block_type": "heading", + "char_count": 169, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 182, + "char_end": 169, + "char_start": 0, + "fragment_sha256": "b99042e589c8b9d744f02e3bfd39b93bfd12c00b52c76a02fc3e7e358e019b88", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s57", + "table": null, + "text": "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b183", + "block_sequence": 183, + "block_sha256": "23eb3a5fdf101cd371ebfe7bca2e0ff6bfa68f885afb89e7eeec00934b80e2e8", + "block_type": "paragraph", + "char_count": 548, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 183, + "char_end": 548, + "char_start": 0, + "fragment_sha256": "9f419c2c8ac3bfdc27d3c79a481173537a469ec72a8232e4b399762c43032a48", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s57", + "table": null, + "text": "If you are a stockholder of record and you do not specify your vote on each proposal individually when voting via the Internet, over the telephone or if you sign and return a proxy card without giving specific voting instructions, then your shares will be voted in line with the Board\u2019s recommendations as described under \u201cRecommendations of the Board\u201d above. If any other matter is properly presented at the virtual Annual Meeting, your proxyholder (one of the individuals named on your proxy card) will vote your shares using their best judgment." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b184", + "block_sequence": 184, + "block_sha256": "d92342f899a6b672003bdcdf71089ebac8b783d57b20f55b9fd05e6fe7084de7", + "block_type": "heading", + "char_count": 126, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 184, + "char_end": 126, + "char_start": 0, + "fragment_sha256": "c1d01b9f0710e61d2f0fc2ebf50b31644ef9d5c39353bb44507b3db5140bf7d2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s58", + "table": null, + "text": "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b185", + "block_sequence": 185, + "block_sha256": "086f57f285db477163439068261de99c75ef3c25154799bddc182c79b4684f42", + "block_type": "paragraph", + "char_count": 1007, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 185, + "char_end": 1007, + "char_start": 0, + "fragment_sha256": "dc0148f7b0db4bf7951fc680e5fb55177f4f22b26c88d2f03553f0f6d3ddb3ab", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s58", + "table": null, + "text": "If you are a beneficial owner of shares registered in the name of your broker, bank or other agent, and you do not instruct your broker, bank or other agent how to vote your shares, your broker, bank or other agent may still be able to vote your shares in its discretion. In this regard, under the rules of the NYSE, brokers, banks and other securities intermediaries that are subject to NYSE rules may use their discretion to vote your \u201cuninstructed\u201d shares with respect to matters considered to be \u201croutine\u201d under NYSE rules, but not with respect to \u201cnon-routine\u201d matters. In this regard, Proposals 1 & 3 are considered to be \u201cnon-routine\u201d under NYSE rules meaning that your broker may not vote your shares on those proposals in the absence of your voting instructions. 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Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b200", + "block_sequence": 200, + "block_sha256": "c997645d9c120b5a1513b6e7473eae1158834c4b66eacf7601a8431f51aee931", + "block_type": "heading", + "char_count": 51, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 200, + "char_end": 51, + "char_start": 0, + "fragment_sha256": "22f85fb0a64b56d6c91818e5c1fcb0282309d0a8b81453b091821af63d8c462c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", + "table": null, + "text": "How many votes are needed to approve each proposal?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b201", + "block_sequence": 201, + "block_sha256": "e101f1229b7dd3cdc322c978e638c5453341be66694a2fe06ee64744c7758fdb", + "block_type": "paragraph", + "char_count": 173, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 201, + "char_end": 173, + "char_start": 0, + "fragment_sha256": "9fafe0c91657f2b9d3e7ef702146f78270d15fd5e54af6a706663ada5edcd820", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", + "table": null, + "text": "The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of votes withheld, abstentions and broker non-votes." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b202", + "block_sequence": 202, + "block_sha256": "8f8f86ab848c547fec5b5a6b384075ce8f06e87003052acd04b264280e780089", + "block_type": "table", + "char_count": 1058, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 202, + "char_end": 1058, + "char_start": 0, + "fragment_sha256": "6a18dea1129f7e3acb5857198fc7f096734c1776b3743dae12fcfcde7f45226b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": 8, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes |\n| Proposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class III Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect. |\n| Proposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1) |\n| Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. |", + "n_cols": 7, + "n_rows": 4, + "plain_text": "Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes\nProposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class III Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect.\nProposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1)\nProposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | \u200b | \u200b | Abstentions and broker non-votes will have no effect.", + "rows": [ + [ + "Proposal", + "\u200b", + "\u200b", + "Votes Required", + "\u200b", + "\u200b", + "Effect of Votes Withheld/Abstentions and Broker Non-Votes" + ], + [ + "Proposal 1: Election of Directors", + "\u200b", + "\u200b", + "The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class III Directors.", + "\u200b", + "\u200b", + "Votes withheld and broker non-votes will have no effect." + ], + [ + "Proposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm", + "\u200b", + "\u200b", + "\u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter.", + "\u200b", + "\u200b", + "Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1)" + ], + [ + "Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d)", + "\u200b", + "\u200b", + "\u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter.", + "\u200b", + "\u200b", + "Abstentions and broker non-votes will have no effect." + ] + ], + "table_index": 8, + "table_kind": "data" + }, + "text": "Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes\nProposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class III Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect.\nProposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1)\nProposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | \u200b | \u200b | Abstentions and broker non-votes will have no effect." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b203", + "block_sequence": 203, + "block_sha256": "5e15bd0cdc63339ab00e521a2b0f38002c98aeee286b65d103d4a7133ba37753", + "block_type": "paragraph", + "char_count": 335, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 203, + "char_end": 335, + "char_start": 0, + "fragment_sha256": "71bab9de11389c25155a4e2b9f4b2b1d4b6e1fd54844e168fc414f6909396467", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", + "table": null, + "text": "(1) Proposal 2 is considered to be a \u201croutine\u201d matter under NYSE rules. Accordingly, if you hold your shares in street name and do not provide voting instructions to your broker, bank or other agent that holds your shares, your broker, bank or other agent has discretionary authority under NYSE rules to vote your shares on Proposal 2." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b204", + "block_sequence": 204, + "block_sha256": "ddb9403ac3458e7831b34c0e38724018c33dd763bc1b5bb66579edfd68e778c8", + "block_type": "heading", + "char_count": 25, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 204, + "char_end": 25, + "char_start": 0, + "fragment_sha256": "893f2607470ae1cd8698a06802e0ec26395bf87cd7df3f2bfe9ce31aacd4be66", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who will count the votes?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s64", + "table": null, + "text": "Who will count the votes?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b205", + "block_sequence": 205, + "block_sha256": "bc8991fc64dc64bba4fa5fbb257606f08e7fae48db609dafcf2ebd0f5e2b5640", + "block_type": "paragraph", + "char_count": 162, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 205, + "char_end": 162, + "char_start": 0, + "fragment_sha256": "8434a1c831311f0e9a5cd7c05e43ea67c2db3bd0b94cc043126e9cf24bfe558a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who will count the votes?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s64", + "table": null, + "text": "The votes will be counted, tabulated and certified by a representative of Broadridge Financial Solutions, Inc., our inspector of election, for the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b206", + "block_sequence": 206, + "block_sha256": "62220f32de73575536dcaec98f49dfe815dcf3844d2cf24f45d69a572987eaa9", + "block_type": "heading", + "char_count": 58, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 206, + "char_end": 58, + "char_start": 0, + "fragment_sha256": "f7354c67708d96ca1392538bd3dcc2ac92512dc17a83770333ca8f038474fa38", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Where can I find the voting results of the Annual Meeting?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s65", + "table": null, + "text": "Where can I find the voting results of the Annual Meeting?" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b207", + "block_sequence": 207, + "block_sha256": "e4eeb7db5e9ce7b97cfa91b297573ddd4d340da8cb3d36d6215261516d34abc6", + "block_type": "paragraph", + "char_count": 209, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 207, + "char_end": 209, + "char_start": 0, + "fragment_sha256": "2d6a261e0e814e768600a8b72d4403bf4df977174b9ec1eb50d4af87ac8e8314", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Where can I find the voting results of the Annual Meeting?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s65", + "table": null, + "text": "We plan to announce preliminary voting results at the Annual Meeting and we will report the final results in a Current Report on Form 8-K, which we intend to file with the SEC shortly after the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b208", + "block_sequence": 208, + "block_sha256": "06f52dafe0032ca8d992ffda6582ff208c95705a0708498a293f14d629a32fac", + "block_type": "heading", + "char_count": 42, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 208, + "char_end": 42, + "char_start": 0, + "fragment_sha256": "dcb2e8ead17dd477b4b304948deca989d99b48f31e598208a6345d0edd0ac6e8", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who is paying for this proxy solicitation?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s66", + "table": null, + "text": "Who is paying for this 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Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. 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She previously served as our Chief Financial Officer from September 2020 to December 2022. Ms. Wheeler also previously served as a member of our Board from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler currently serves on the board of directors and on the audit and compensation committees of APi Group Corporation, a global provider of safety and specialty services, since November 2019. She previously served on the board and audit committee of Dollar Tree, inc. from March 2019 to March 2022. Ms. Wheeler has also served on a number of other corporate boards of private and public companies, including Neiman Marcus Group (2005 to 2013) and Petco Animal Supplies (2016 to 2015). Ms. Wheeler received her Bachelor of Commerce degree from Queen\u2019s University in Canada. Skills and Qualifications: We believe that Ms. Wheeler is qualified to serve as a member of our Board because of her extensive experience in a leadership role at a global private equity firm, as well as her experience with our company as our Chief Executive Officer and former Chief Financial Officer, and her wealth of experience across different industries. \u200b ERIC WU Co-founder & President, Marketplace Director Since: 2020 Age: 40 Committee Memberships: None Other Public Company Boards: None \u200b \u200b Eric Wu co-founded Opendoor and has served as President, Marketplace since December 2022 and as a member of our board of directors since April 2014. He previously served as our Chief Executive Officer from January 2014 to December 2022 and as Chairman of our board of directors from December 2020 to December 2022. Prior to Opendoor, Mr. Wu founded and, from 2009 to 2011, served as the Chief Executive Officer of Movity.com, a geo-data analytics company, until its acquisition by Trulia.com in 2011, after which he served as Head of Geo/Social Products until 2013. Mr. Wu also previously co-founded RentAdvisor.com, an apartment search company specializing in lead generation, in 2008, which was later acquired by Apartment List, Inc. in 2010. Mr. Wu received his B.S. degree in Economics from the University of Arizona. Skills and Qualifications: We believe that Mr. Wu is qualified to serve as a member of our Board due to the perspective and experience he brings as our co-founder and President, Marketplace, and also as our former Chief Executive Officer and his extensive experience founding and managing real estate and technology companies. \u200b" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b233", + "block_sequence": 233, + "block_sha256": "652e472ceb3a19e0f4e636d94516875eb716d20f59d48798dbe49fd3d48180df", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 233, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "eb13bbd82eab0e0145364cb2eefb76bdad244a4d27f15a0bc4749fb14e51c110", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class III director 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s71", + "table": null, + "text": "JASON KILAR Director Since: 2020 Age: 51 Committee Memberships: \u2022 Nominating and Corporate Governance (CHAIR) Other Public Company Boards: None \u200b \u200b Jason Kilar has served as a member on our Board since March 2019. Previously, Mr. Kilar served as the Chief Executive Officer of Warner Media, LLC, a media and entertainment subsidiary of its public company parent, Warner Bros. Discovery, Inc. from May 2020 to April 2022. Prior to that, Mr. Kilar co-founded and served as the Chief Executive Officer of Vessel Group, Inc., a video platform company, from 2013 to 2017. Prior to Vessel, Mr. Kilar co-founded and served as the Chief Executive Officer of Hulu, LLC, a streaming service company, from 2007 to 2013. Mr. Kilar also served in a variety of senior leadership roles with Amazon.com, Inc., an e-commerce technology company, from 2002 to 2006, including as Senior Vice President, Worldwide Application Software, and Vice President and General Manager of Amazon\u2019s North American media businesses. He has also served on various other private company boards of directors, including Univision Communications Inc. from September 2016 to April 2020 and Brighter Inc. from 2013 until its acquisition by Cigna Corporation in 2017. Mr. Kilar received his B.A. degree in Journalism and Business Administration from University of North Carolina at Chapel Hill and M.B.A. degree from Harvard Business School. Skills and Qualifications: We believe that Mr. Kilar is qualified to serve as a member of our Board because of his deep expertise in operations as a Chief Executive Officer and seasoned board member, and his extensive experience with technology, high-growth, consumer and digital companies. \u200b" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b239", + "block_sequence": 239, + "block_sha256": "b3f3668f227473eb82587fdd4d47b2677859b5d700c7e0d269a7a2a3c41e26ca", + "block_type": "heading", + "char_count": 40, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 239, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "1e233adc0ee845d496ffb4d2b68046200f9bcd344ea6b69bb5634ed0dccc51c3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class I directors (terms ending in 2024)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s72", + "table": null, + "text": "Class I directors (terms ending in 2024)" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b240", + "block_sequence": 240, + "block_sha256": "bd588934375d068ca28f9a3b32208d150ae66fcf72a7332dd4487c1e87f68bfd", + "block_type": "paragraph", + "char_count": 1893, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 240, + "char_end": 1893, + "char_start": 0, + "fragment_sha256": "84fabc5b2ae0f6223139ea58dc6a9f00ba653971e4b8b9e731b5c0f4df7d076d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class I directors (terms ending in 2024)" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s72", + "table": null, + "text": "CIPORA HERMAN Director Since: 2020 Age: 49 Committee Memberships: \u2022 Audit (CHAIR) Other Public Company Boards: \u2022 ZipRecruiter, Inc. (Audit (Chair) and Compensation Committees) \u200b \u200b Cipora Herman has served as a member of our Board since December 2020 and previously served as a member of the board of directors of SCH from May 2020 until the closing of our Business Combination with SCH in December 2020. Ms. Herman has served on the board of directors of ZipRecruiter, Inc., a publicly traded online employment marketplace company, since October 2018, where she also serves as the chair of the audit committee and a member of the compensation committee. Previously, Ms. Herman served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028, from January 2021 to April 2022. Ms. Herman also served on the board of directors of MINDBODY, Inc., a software-as-a-service company, from October 2016 to February 2019. From 2012 to 2016, Ms. Herman served as the Chief Financial Officer of the San Francisco 49ers, a professional American football team. Prior to that, Ms. Herman has served in various leadership roles in large online media and technology companies, including as Vice President & Treasurer of Facebook, Inc., from 2007 to 2012, and in various roles at Yahoo! Inc. from 2003 to 2007, including VP Finance and Treasurer. She also served on private company board of directors, including Memery, Inc. (dba Overlay) from 2015 to January 2021. Ms. Herman received her A.B. degree in International Relations, M.A. degree in International Development Policy and M.B.A degree, each from Stanford University. Skills and Qualifications: We believe that Ms. Herman is qualified to serve as a member of our board of directors because of her financial expertise and experience as a director of publicly and privately held companies. \u200b" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b241", + "block_sequence": 241, + "block_sha256": "7ce9d05d4fe93a8ddd110f43cfde33923d4aa09aea158c97a79e2ed3d90c0851", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 241, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "393d7b792c458b01192fa41e47f43077ac1ee7ae7b9ea9965a8547ef4afe2497", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class I directors (terms ending in 2024)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation\u2019s largest homebuilders, since November 2020, and as a member of the board of directors since 2018 (and also served as a director from 1997 to 2004). Prior to that, he served in various senior management roles, including, President from April 2018 to November 2020, Chief Operating Officer from December 2004 to January 2019, Vice President from 1994 to April 2018, and a Regional President in Lennar\u2019s Homebuilding operations prior to that. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe received his B.A. degree in Architecture from the University of Florida. Skills and Qualifications: We believe that Mr. Jaffe is qualified to serve as a member of our board of directors because of his extensive knowledge of the housing industry and his deep operating experience. \u200b GLENN SOLOMON Director Since: 2020 Age: 54 Committee Memberships: \u2022 Compensation (CHAIR) Other Public Company Boards: \u2022 Hashicorp, Inc. (Compensation (Chair) and Audit Committees) \u200b \u200b Glenn Solomon has served as a member of our board of directors since February 2015. Mr. Solomon has been a Managing Partner of GGV Capital, a venture capital firm, since 2006, and as a director of Hashicorp, Inc., a publicly traded software company, since September 2014, where he also serves as chair of the compensation committee and as a member of the audit committee. He also serves as a director of a number of privately held companies and previously served as a director of Domo, Inc., a cloud software company from August 2017 to March 2019. Mr. Solomon received his B.A. degree in Public Policy from Stanford University and M.B.A. from Stanford University. 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(Nominating and Corporate Governance (Chair) and Compensation Committees) \u200b \u200b Adam Bain has served as a member of our board of directors since December 2020, prior to which he served as a member of SCH\u2019s board of directors. Mr. Bain is a co-founder and co-Managing Partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since January 2018. Mr. Bain has served as a member of the board of directors of Virgin Galactic Holdings Inc., a publicly traded spaceflight company, where he serves as the chair of the nominating and corporate governance committee and as a member of the compensation committee since the consummation of its business combination with Social Capital Hedosophia Holdings Corp. (IPOA), which was a publicly traded special purpose acquisition company (\u201cSPAC\u201d), in October 2019. Prior to that, he served as a member of the board of directors of IPOA from September 2017 to October 2019. Since November 2016, Mr. Bain has also been an independent advisor and investor in select privately held growth-stage companies. Previously, from 2015 to November 2016, Mr. Bain served as the Chief Operating Officer of Twitter, Inc., a publicly traded social media company, and also served as President of Global Revenue & Partnerships from 2010 to 2015. Mr. Bain received his B.A. degree in English Journalism from Miami University in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve as a member of our board of directors because of his significant operating and technology experience and financial experience. \u200b PUEO KEFFER Director Since: 2020 Age: 41 Committee Memberships: \u2022 Audit Other Public Company Boards: \u2022 DigitalOcean Holdings, Inc. \u200b \u200b Pueo Keffer has served as a member of our board of directors since October 2015. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, Inc. since 2015. From 2009 to 2015, Mr. Keffer served in various roles at Redpoint Ventures, most recently as a Partner. Since 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a publicly traded cloud computing platform company. He also serves on the board of directors of two privately held companies. Previously, Mr. Keffer was an associate at TA Associates, a growth private equity firm, and a financial analyst at Goldman Sachs & Co. Mr. Keffer received his B.A. degree in Economics from Stanford University. 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(Nominating and Corporate Governance (Chair) and Compensation Committees) \u200b \u200b John Rice has served as a member of our board of directors since March 2021. Mr. Rice is the founder and Chief Executive Officer of Management Leadership for Tomorrow (\u201cMLT\u201d), a national non-profit organization founded in 2001 that fights racial and economic disparities by empowering a new generation of diverse leaders. Prior to MLT, Mr. Rice was an executive with the National Basketball Association (\u201cNBA\u201d) from 1996 to 2000, where he served in various roles, including as Managing Director of NBA Japan and as Director of Marketing for Latin America. Prior to that, Mr. Rice spent four years with the Walt Disney Company in new business development and marketing and two years with AT&T. Since 2010, Mr. Rice has served as a member of the board of directors of Walker & Dunlop, Inc. a publicly traded real estate finance company, where he also serves as chair of the nominating and corporate governance committee and as a member of the compensation committee. He also serves on the board of directors of Morgan Stanley Real Estate\u2019s Prime Property Fund, a privately held diversified real estate fund. Mr. Rice is also a member of the Yale University board of trustees. Mr. Rice received his B.A. degree from Yale University and M.B.A. degree from Harvard Business School. 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As set forth in our Certificate of Incorporation, the Board is currently divided into three classes with staggered, three-year terms. At each annual meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following election. Our Certificate of Incorporation provides that the authorized number of directors may be changed only by resolution of our Board in accordance with our Amended & Restated Bylaws. Any additional directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. The division of our Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control of our Company. 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The Board and the Nominating Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. Of our directors, 44% self-identify as having diverse characteristics. 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Independence" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b280", + "block_sequence": 280, + "block_sha256": "348534c5b08c5027749590b328bbff90c6543e2b2a17f4619991429fddac4622", + "block_type": "paragraph", + "char_count": 1151, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 280, + "char_end": 1151, + "char_start": 0, + "fragment_sha256": "af4d331826a4321c9a87f4d5a80ad07ce2e2b258fb58fbcb3a254a53975a2048", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDirector Independence" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s78", + "table": null, + "text": "As required under Nasdaq listing standards, a majority of the members of a listed company\u2019s board of directors must qualify as \u201cindependent,\u201d as affirmatively determined by the board of directors. Our Board consults with the Company\u2019s inside and outside counsel to ensure that the Board\u2019s determinations are consistent with relevant securities and other laws and regulations regarding the definition of \u201cindependent,\u201d including those set forth in pertinent listing standards of Nasdaq, as in effect from time to time. Consistent with these considerations, after review of all relevant identified transactions or relationships between each director, or any of their family members, and the Company, its senior management and its independent auditors, the Board has affirmatively determined that each of Adam Bain, Cipora Herman, Jonathan Jaffe, Pueo Keffer, Jason Kilar, John Rice and Glenn Solomon each qualify as \u201cindependent\u201d in accordance with the listing requirements of Nasdaq. In making this determination, the Board found that none of these directors or nominees for director had a material or other disqualifying relationship with the Company." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b281", + "block_sequence": 281, + "block_sha256": "1805edebd24b1d7e981c472d4868dff6338ce76fccc4d2e7a31874d987755d37", + "block_type": "table", + "char_count": 160, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 281, + "char_end": 160, + "char_start": 0, + "fragment_sha256": "bda512bd40f9f1eb1bc1622320105e32d1d3b8291eee9e836459dd747db38f60", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDirector Independence" + ], + "table_index": 11, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s78", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Independent Directors | | | | | | |\n| \u2022 Adam Bain \u2022 Cipora Herman | \u200b | \u200b | \u2022 Jonathan Jaffe \u2022 Pueo Keffer \u2022 Jason Kilar | \u200b | \u200b | \u2022 John Rice \u2022 Glenn Solomon |", + "n_cols": 7, + "n_rows": 2, + "plain_text": "Independent Directors | | | | | | \n\u2022 Adam Bain \u2022 Cipora Herman | \u200b | \u200b | \u2022 Jonathan Jaffe \u2022 Pueo Keffer \u2022 Jason Kilar | \u200b | \u200b | \u2022 John Rice \u2022 Glenn Solomon", + "rows": [ + [ + "Independent Directors", + "", + "", + "", + "", + "", + "" + ], + [ + "\u2022 Adam Bain \u2022 Cipora Herman", + "\u200b", + "\u200b", + "\u2022 Jonathan Jaffe \u2022 Pueo Keffer \u2022 Jason Kilar", + "\u200b", + "\u200b", + "\u2022 John Rice \u2022 Glenn Solomon" + ] + ], + "table_index": 11, + "table_kind": "unknown" + }, + "text": "Independent Directors | | | | | | \n\u2022 Adam Bain \u2022 Cipora Herman | \u200b | \u200b | \u2022 Jonathan Jaffe \u2022 Pueo Keffer \u2022 Jason Kilar | \u200b | \u200b | \u2022 John Rice \u2022 Glenn Solomon" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b282", + "block_sequence": 282, + "block_sha256": "a78a95d0bf2171dca8190525b61a15845ad422acff9f1fb36fe24378765e8cd7", + "block_type": "paragraph", + "char_count": 568, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 282, + "char_end": 568, + "char_start": 0, + "fragment_sha256": "4612e464a5b43d1a068990f3ea3095487e42beaa1f315dfb557e66c8fb61ca7f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDirector Independence" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s78", + "table": null, + "text": "In arriving at the foregoing independence determinations, the Board reviewed and discussed information provided by the directors with regard to each director\u2019s business and personal activities and any relationships they have with us and our management. Based on this review, our Board has determined that all of our non-employee directors, who are listed above, meet the applicable criteria for independence established by Nasdaq. 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In addition, the Company believes that having a lead independent director (or independent board chair) creates an environment that is more conducive to objective evaluation and oversight of management\u2019s performance, increasing management accountability and improving the ability of the Board to monitor whether management\u2019s actions are in the best interests of the Company and its stockholders. As a result, the Company believes that having a lead independent director (or independent board chair) can enhance the effectiveness of the Board as a whole. However, there is no fixed requirement in our Corporate Governance Guidelines that our board chair and Chief Executive Officer positions be separate, or that our board chair be an employee or elected from among non-employee directors. 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Consistent with this approach, one of the Board\u2019s primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b287", + "block_sequence": 287, + "block_sha256": "0f7a6744ba162de46f9c3608a8462a4f16bbb7823031b196eb2e79dab99e42b1", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 287, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "1ed710536890d50ec1b9b7e4f5ccb942f3ce3e32ecab427989114421da54234e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard\u2019s Role in Risk Oversight" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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and control such exposures; \u2022 The Compensation Committee, in approving and evaluating the Company\u2019s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company\u2019s compensation arrangements; and \u2022 The Nominating Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. 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We provide all new directors with orientation sessions regarding the Board and the Company\u2019s operations. The orientation consists of presentations by members of senior management on the Company\u2019s strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and the competitive landscape. 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The Nominating Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating Committee reviews the backgrounds of those candidates, evaluates candidates\u2019 independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating Committee for candidates for election as a director. AnchorStockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating and Corporate Governance Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Sydney Schaub, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others. AnchorStockholder Engagement Opendoor engages with stockholders and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to stockholders. As we continue to grow as a public company, we will continue to engage with our stockholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with our stockholders to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance and business practices and public disclosures. AnchorCommunications from Stockholders Our Board currently does not have a formal process for stockholders to send communications to the Board. Nevertheless, the Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and chair (or lead independent director) of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Sydney Schaub, Secretary, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. AnchorStock Ownership Guidelines In December 2022, we established stock ownership guidelines for our executive officers and directors. 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Our Nominating Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Our Corporate Governance Guidelines are available in the \u201cCorporate Governance\u201d section of our website at https://investor.opendoor.com. References to our website address throughout this proxy statement are for informational purposes only, or to fulfill specific disclosure requirements of the SEC\u2019s rules. These references are not intended to, and do not, incorporate the contents of our website by reference into this proxy statement. AnchorCode of Conduct The Board has adopted the Code of Conduct, which applies to all of our employees, officers and directors. Our Code of Conduct is available in the \u201cCorporate Governance\u201d section of our website at https://investor.opendoor.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct. AnchorWhistleblower Policy The Board has adopted a Whistleblower Policy applicable to its employees that provides for protection from retaliation or discrimination by Opendoor due to reporting issues relating to concerns involving questionable accounting or auditing matters and compliance with applicable laws and regulations. AnchorProhibitions on Hedging, Pledging and Short-Term Speculative Transactions Our Board has adopted an Insider Trading Policy, which applies to all of our directors, officers and employees. Our directors, officers and employees are prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. 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AnchorBoard Committees Our Board has established three standing committees \u2014 the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee \u2014 each of which operates under a charter that has been approved by our Board. Our Audit Committee, Compensation Committee, and Nominating Committee charters are available in the \u201cCorporate Governance\u201d section of our website located at https://investor.opendoor.com. 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Independence The Nominating and Corporate Governance Committee is composed entirely of directors who are independent under the Nasdaq rules. Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain \u200b \u200b Primary Responsibilities Include: \u2022 Evaluating the performance of our Chief Executive Officer and other executive officers in light of any goals and objectives of the Company\u2019s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation level of the Company\u2019s executive officers; \u2022 Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; \u2022 Reviewing the executive compensation plans in light of the Company\u2019s goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and \u2022 Appointing and overseeing any compensation consultants. Independence The Compensation Committee is composed entirely of directors who are independent under the Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as a non-employee director under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 26 of this proxy statement for a discussion of the role of our executive officers and our compensation consultant in determining executive compensation. 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"table_index": 13, + "table_kind": "data" + }, + "text": "Name | \u200b | \u200b | Age | \u200b | \u200b | Position\nCarrie Wheeler* | \u200b | \u200b | 51 | \u200b | \u200b | Chief Executive Officer\n\u200bChristina Schwartz | \u200b | \u200b | 44 | \u200b | \u200b | Interim Chief Financial Officer & Chief Accounting Officer\nSydney Schaub | \u200b | \u200b | 43 | \u200b | \u200b | Chief Legal Officer\nMegan Meyer Toolson | \u200b | \u200b | \u200b37 | \u200b | \u200b | President, Sell Direct & Services" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b332", + "block_sequence": 332, + "block_sha256": "a27395b084396ad545abffea9cffc30522b0942ccfb1759044371f2a2b3adc91", + "block_type": "paragraph", + "char_count": 1710, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 332, + "char_end": 1710, + "char_start": 0, + "fragment_sha256": 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s88", + "table": null, + "text": "We are a leading e-commerce platform for residential real estate transactions. In 2014, we founded Opendoor to reinvent one of life\u2019s most important transactions and make it possible to buy, sell, and move at the tap of a button. By leveraging software, data science, product design and operations, we are building a managed marketplace for residential real estate that offers buyers and sellers an enhanced experience as compared to traditional real estate transactions. \u2022 Since launch, customers have demonstrated their desire for our digital, on-demand real estate solution with over 215,000 homes bought and sold by Opendoor across the United States. \u2022 In 2022, we sold over 39,000 homes and generated $15.6 billion in revenue, the latter of which represents a compound annual growth rate of 85% since 2017. \u2022 Importantly, we have achieved this growth while continuing to delight customers, maintaining an annual average Net Promoter Score of nearly 80 from our sellers in 2022. 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We are working towards a future where both 1P and 3P sales take place on our platform, enabling sellers and buyers to experience a simple and certain transaction that dramatically improves the traditional process." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b343", + "block_sequence": 343, + "block_sha256": "47dac9b822b1a769525d9ab04860876bcf81c7ac3e6b981d17a2eb64b71fa962", + "block_type": "heading", + "char_count": 26, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 343, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "c9916e4b95eff749cf04836568a3593060f8778e7b56dd4d569fee8fd1b48ad9", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Key Leadership Transitions" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s89", + "table": null, + "text": "Key Leadership Transitions" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b344", + "block_sequence": 344, + "block_sha256": "370cf4132b96f37eae684bfd504cc261715a41eee6f2c6eeb342148b48f93654", + "block_type": "paragraph", + "char_count": 1273, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 344, + "char_end": 1273, + "char_start": 0, + "fragment_sha256": "e04006fb0502b73d18099c748588da6b05083570bc7c911f393e1560a341b7fc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Key Leadership Transitions" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s89", + "table": null, + "text": "While current macroeconomic conditions are challenging for the technology and housing sectors, we believe we are uniquely positioned to execute on our mission. In connection with this belief, we made changes to our leadership team as we closed fiscal year 2022 as a means of strengthening our position. The leadership changes were made to put Opendoor in a position to drive financial and operational excellence while providing a continued focus on innovation. \u2022 In December 2022, our former CEO, Eric Wu, stepped into a new role as President, Marketplace; and we appointed Carrier Wheeler, our former CFO, as CEO effective as of December 1, 2022. 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"AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Key Leadership Transitions" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s89", + "table": null, + "text": "\u2022 On February 21, 2023, Mr. Morillo notified us of his resignation as our Chief Investment Officer, effective as of the same date; following his resignation, he is continuing in employment with us as an advisor through May 31, 2023." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b351", + "block_sequence": 351, + "block_sha256": "3364dc8fe8e0cedd3359505117c8d1350a9802e6814d3a7742c78625b7eea070", + "block_type": "heading", + "char_count": 70, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 351, + "char_end": 70, + "char_start": 0, + "fragment_sha256": 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"fragment_sha256": "3fd8d86ed3ccbae95031e11a4149fc7c4752176761f2c5698667247f5cd149d5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s90", + "table": null, + "text": "The Compensation Committee and full Board take the outcome of our annual Say on Pay vote seriously and are focused on gathering and responding to our stockholders\u2019 feedback regarding the Company\u2019s executive compensation programs. As part of its compensation-setting process, the Compensation Committee considers the results of the stockholder advisory vote on our executive compensation from the prior year. Approximately 62% of the votes cast at our 2022 Annual Meeting were voted in favor of our executive compensation, as compared to approximately 99.8% the prior year. This Say on Pay vote result was lower than expected. In response, we undertook a stockholder outreach campaign with key institutional investors. Throughout fiscal 2022, we had conversations with stockholders collectively representing over 15% of non-affiliated outstanding shares (as of September 30, 2022) about issues of importance to them, including executive compensation, corporate governance matters, human capital, and our approach to environmental and social issues. In each meeting, company participation typically included our Chief Legal Officer, our Chief People Officer and our VP of Investor Relations. In these meetings, we received valuable feedback regarding the strengths of our executive compensation program as well as areas for improvement as we mature as a publicly-traded company. We specifically sought actionable feedback that could be better incorporated into Compensation Committee discussions and decisions going forward. In response to the feedback we received, the Compensation Committee remains committed to understanding and being responsive to stockholder sentiment. The table below summarizes the specific feedback we received from our stockholders during these meetings, and, informed by stockholder feedback, the results of the Company\u2019s 2022 Say on Pay vote, and consultations with the Compensation Committee\u2019s independent compensation advisor, how our Compensation Committee and the Board generally have addressed or intend to address these matters." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b353", + "block_sequence": 353, + "block_sha256": "eab0e02c41c73b95d8c2cd707094faea21971d32ba5a00fb9a217628c68d2641", + "block_type": "table", + "char_count": 1690, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 353, + "char_end": 1690, + "char_start": 0, + "fragment_sha256": "81afef5b524a6a1fd6eb6a1d5b4f1a9bf8894a68f9dab0366e89f66650fe298b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach" + ], + "table_index": 14, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s90", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| What Stockholders Said: | \u200b | \u200b | Action We Took: |\n| Executive Compensation: | \u200b | \u200b | |\n| | \u200b | \u200b | |\n| Compensation philosophy and use of discretion in executive compensation decisions is not clearly outlined. | \u200b | \u200b | As noted below under \u201cCompensation Philosophy and Objectives\u201d, we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2022. |\n| | \u200b | \u200b | |\n| The company\u2019s peer group and rationale for selection is not described. | \u200b | \u200b | As noted below under \u201cPeer Group and Competitive Positioning\u201d, we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics\u2026 |\n| | \u200b | \u200b | |\n| There is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | \u200b | \u200b | As discussed below under \u201cStock Ownership Guidelines,\u201d in December 2022, we established stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers.\u2026 |", + "n_cols": 4, + "n_rows": 8, + "plain_text": "What Stockholders Said: | \u200b | \u200b | Action We Took:\nExecutive Compensation: | \u200b | \u200b | \n | \u200b | \u200b | \nCompensation philosophy and use of discretion in executive compensation decisions is not clearly outlined. | \u200b | \u200b | As noted below under \u201cCompensation Philosophy and Objectives\u201d, we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2022.\n | \u200b | \u200b | \nThe company\u2019s peer group and rationale for selection is not described. | \u200b | \u200b | As noted below under \u201cPeer Group and Competitive Positioning\u201d, we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics used to evaluate peers for selection.\n | \u200b | \u200b | \nThere is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | \u200b | \u200b | As discussed below under \u201cStock Ownership Guidelines,\u201d in December 2022, we established stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. Under our stock ownership guidelines, within five years of the establishment of the guidelines, the applicable individuals must comply with the following minimum required thresholds of ownership: \u25cb Non-Employee Directors \u2014 the lesser of 5 times annual cash retainer or 60,000 shares; \u25cb Chief Executive Officer \u2014 the lesser of 6 times base salary or 450,000 shares; and \u2022 Section 16 Officers (other than CEO) and any other executives designated as participants \u2014 the lesser of 3 times base salary or 225,000 shares. While we have considered implementation of a clawback policy, given the pending effectiveness of Nasdaq\u2019s final clawback rules,", + "rows": [ + [ + "What Stockholders Said:", + "\u200b", + "\u200b", + "Action We Took:" + ], + [ + "Executive Compensation:", + "\u200b", + "\u200b", + "" + ], + [ + "", + "\u200b", + "\u200b", + "" + ], + [ + "Compensation philosophy and use of discretion in executive compensation decisions is not clearly outlined.", + "\u200b", + "\u200b", + "As noted below under \u201cCompensation Philosophy and Objectives\u201d, we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2022." + ], + [ + "", + "\u200b", + "\u200b", + "" + ], + [ + "The company\u2019s peer group and rationale for selection is not described.", + "\u200b", + "\u200b", + "As noted below under \u201cPeer Group and Competitive Positioning\u201d, we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics used to evaluate peers for selection." + ], + [ + "", + "\u200b", + "\u200b", + "" + ], + [ + "There is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines.", + "\u200b", + "\u200b", + "As discussed below under \u201cStock Ownership Guidelines,\u201d in December 2022, we established stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s90", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| What Stockholders Said: | \u200b | \u200b | Action We Took: |\n| | \u200b | \u200b | the Compensation Committee determined that we will implement our clawback policy in accordance with the new listing standard when the new listing standard becomes final. |\n| | \u200b | \u200b | |\n| There is a lack of rationale for large executive equity award grants and it is unclear whether such grants represent multiple years of equity compensation. | \u200b | \u200b | We carefully consider the appropriate mix of compensation delivered to our executive officers. 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s91", + "table": null, + "text": "We endeavor to maintain sound governance standards consistent with our executive compensation policies and practices. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. The following summarizes our executive compensation and related policies and practices:" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b368", + "block_sequence": 368, + "block_sha256": "b2a3d2549e2653e35a646d7fc566630f113064b8c1d020d3df5089e36a97f5b9", + "block_type": "table", + "char_count": 3857, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 368, + "char_end": 3857, + "char_start": 0, + "fragment_sha256": "23a439286ea6a3391e4d29ee203b25bf2767a855b9fa18c1c92babd1ff699b18", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Executive Compensation Policies and Practices" + ], + "table_index": 16, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s91", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.4, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| What We Do: | \u200b | \u200b | What We Don\u2019t Do: |\n| \u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. Th\u2026 | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to \u2026 |", + "n_cols": 4, + "n_rows": 2, + "plain_text": "What We Do: | \u200b | \u200b | What We Don\u2019t Do:\n\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2022. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success as measured through our stock price and/or total stockholder return, thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post-employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We periodically review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. \u2022 Stock Ownership Guidelines. In December 2022, we established stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders. | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 No Tax Reimbursements. Since 2022, we do not provide tax reimbursement payments (including \u201cgross-ups\u201d) to our named executive officers. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross-ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. \u2022 No \u201cSingle Trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company.", + "rows": [ + [ + "What We Do:", + "\u200b", + "\u200b", + "What We Don\u2019t Do:" + ], + [ + "\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2022. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success as measured through our stock price and/or total stockholder return, thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post-employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We periodically review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. \u2022 Stock Ownership Guidelines. In December 2022, we established stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders.", + "\u200b", + "\u200b", + "\u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 No Tax Reimbursements. Since 2022, we do not provide tax reimbursement payments (including \u201cgross-ups\u201d) to our named executive officers. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross-ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. \u2022 No \u201cSingle Trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company." + ] + ], + "table_index": 16, + "table_kind": "mixed" + }, + "text": "What We Do: | \u200b | \u200b | What We Don\u2019t Do:\n\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2022. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success as measured through our stock price and/or total stockholder return, thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post-employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We periodically review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. \u2022 Stock Ownership Guidelines. In December 2022, we established stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders. | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 No Tax Reimbursements. Since 2022, we do not provide tax reimbursement payments (including \u201cgross-ups\u201d) to our named executive officers. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross-ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. \u2022 No \u201cSingle Trigger\u201d Change-in-Control Arrangements. 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In our first two years as a public company, decisions on how we structured our executive compensation were aligned to the achievement of our mission. Our focus on executive compensation has been to keep compensation components simple thus ensuring a level of focus and unrelenting commitment to grow our business. As noted below under \u201cCompensation Elements,\u201d our executive compensation program has consisted of two elements \u2014 base salary and long-term incentive compensation in the form of equity awards, with a large portion of our executive compensation consisting of equity awards to ensure our executives are focused on growth and long term shareholder value. As our business scales and matures over time, we expect to adjust our executive compensation program accordingly, including by introducing performance based elements." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b371", + "block_sequence": 371, + "block_sha256": "6bd8f66b600159dd9eeec6fb0ed65296ba759305883804f8218d5b2a008cebe1", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 371, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "c41d56209ccac770eb9c0e110431ab6a8110e7e62aa2a7d5ec04d1e9e03ee878", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Overview of Fiscal Year 2022 Executive Compensation Program" + ], + "table_index": null, + "tag_name": "div" + }, + 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b376", + "block_sequence": 376, + "block_sha256": "34337e564ec83a885e8a7d1412ebe2d53e8900499cad5598d485d78a824c7673", + "block_type": "paragraph", + "char_count": 4516, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 376, + "char_end": 4516, + "char_start": 0, + "fragment_sha256": "14a21c2226e56767bb5cb852059bc546f065bfb5f5714f686b4961f4cdbb0f6f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Overview of Fiscal Year 2022 Executive Compensation Program" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", + "table": null, + "text": "Set forth below is an overview of the key compensation decisions related to our fiscal year 2022 executive compensation program: \u2022 Equity Awards to Align Executive Compensation With Long-Term Stockholder Value. The majority of our named executive officers\u2019 target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer\u2019s target total direct compensation dependent upon our overall, long-term success. The Compensation Committee approved awards in connection with new-hire, promotional or retention compensation packages, as applicable, for Ms. Wheeler, as discussed directly below, and for Ms. Schwartz and Ms. Schaub. All equity awards granted to our named executive officers during 2022 were determined by our Compensation Committee upon the recommendation of its independent compensation consultant and a review of comparable company information. \u2022 Market Driven CEO Compensation Package for Carrie Wheeler. After careful consideration by the Compensation Committee and the Board, we named Ms. Wheeler to be the Company\u2019s CEO and appointed her to the Board, as a Class III director, effective as of December 1, 2022. In selecting Ms. Wheeler to assume the CEO role, the Board considered Ms. Wheeler\u2019s skill set, including her deep financial acumen and operating insight, each of which is critically important to the long-term success of our business. Until her CEO appointment, Ms. Wheeler served as our CFO since December 2020 and as a member of our Board prior to that. Ms. Wheeler also has 25 years of experience in private equity and board experience across numerous consumer companies. In determining Ms. Wheeler\u2019s new compensation package, our Compensation Committee requested that our compensation consultant, Compensia, provide market compensation insight. Our Compensation Committee, with input from Compensia, considered Ms. Wheeler\u2019s potential compensation package based on compensation packages of our peer companies as well as other relevant technology companies that had recently appointed CEOs. The Compensation Committee considered it important that Ms. Wheeler\u2019s compensation package reflect a competitive pay level associated with her new role to ensure her alignment to the long term growth and success of the Company. In addition, the Compensation Committee felt that it was important to provide an annual incentive opportunity to incent Ms. Wheeler to achieve our annual business and strategic objectives, along with severance protection, which is offered to executives at the majority of our peer companies. The Compensation Committee structured Ms. Wheeler\u2019s compensation package to ensure her interests were focused on long-term value creation for our shareholders. In connection with the appointment of Ms. Wheeler as our CEO, we and Ms. Wheeler entered into an amendment to Ms. Wheeler\u2019s existing offer letter agreement. Pursuant to such amendment, Ms. Wheeler is entitled to an annual base salary of $750,000 and is eligible to participate in an annual cash incentive program established by the Compensation Committee, with a minimum bonus opportunity of $250,000 for 2023. The offer letter amendment further provides Ms. Wheeler with certain severance benefits, as described below under \u201cExecutive Offer Letters.\u201d In addition, in connection with her appointment as CEO, Ms. Wheeler was granted an award of TRSUs on January 2, 2023 covering 15,060,241 shares. This number of TRSUs was determined by dividing $25,000,000 by (i) the average closing price per share of our common stock over the 20 trading day period commencing with the trading day that was ten days preceding December 1, 2022 (subject to a minimum of $1.65 per share and a maximum of $2.00 per share). The TRSUs will vest quarterly over a four-year period commencing on December 1, 2022 subject to Ms. Wheeler\u2019s continued employment with the Company on each such vesting date. As noted above, in determining the value of Ms. Wheeler\u2019s TRSU grant, the Committee considered a competitive market analysis prepared by Compensia for sign-on CEO equity grants and also considered the importance of Ms. Wheeler to the Company\u2019s ability to execute on its transformation plans. \u2022 Targeted Salary Increases. For fiscal year 2022, the Compensation Committee determined to increase the base salaries of Ms. Wheeler, in connection with her promotion to CEO, and Ms. Schwartz, in connection with her appointment as interim CFO." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b377", + "block_sequence": 377, + "block_sha256": "91a9e1d032d85daba9ada7a33f86b58513e52dcf83e53a3c289e695ef46586be", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 377, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "40debb03407a52e87728b6ef7dffcb048e3a6009e3d21a4e4a4e037b66572400", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Overview of Fiscal Year 2022 Executive Compensation Program" + ], + 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", + "table": null, + "text": "\u2022 Eric Wu Transition Arrangements and Equity Award Forfeiture. As noted above, Mr. Wu resigned from his position as CEO effective December 1, 2022 to become our President, Marketplace, and in this role he will focus on driving the development of our third-party marketplace. In connection with his resignation as CEO and transition to our President, Marketplace, we and Mr. Wu entered into an amendment to Mr. Wu\u2019s existing employment letter agreement, pursuant to which Mr. Wu agreed to forfeit a large portion of his outstanding unvested equity awards, effective as of December 1, 2022. Finally, if Mr. Wu is no longer serving as our President, Marketplace, he will cease to serve on our Board. The table below describes the amounts forfeited by Mr. Wu in connection with his resignation as CEO and transition to President, Marketplace:" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b383", + "block_sequence": 383, + "block_sha256": "ee91982b83f9f92b03addb226f95a6ea2b271eeada9c4bc85bd8effb5c40ff23", + "block_type": "table", + "char_count": 422, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 383, + "char_end": 422, + "char_start": 0, + "fragment_sha256": "ba69954aa0f20d4839df74d6e2d7ab1c2500f5f6e3ed27a09a5cbbd6e10240f8", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Overview of Fiscal Year 2022 Executive Compensation Program" + ], + "table_index": 17, + "tag_name": "table" + }, + "section_id": 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eligible to vest in equal quarterly installments over four years following January 15, 2021, subject to continued service through each vesting date. (2) PRSU award that was eligible to vest in equal installments upon achievement of six predetermined share price milestones (five of which remained outstanding as of the date of forfeiture), subject to continued service through each vesting date. (3) Represents the number of shares forfeited under each of the TRSU award and PRSU award, in the aggregate, as a percentage of the number of shares initially subject to the TRSU award and the PRSU award, in the aggregate." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b385", + "block_sequence": 385, + "block_sha256": "5273624ae29ddf6141ff73f7335b83e7a9ddac0cd0e038db2a2b0a841b780e86", + "block_type": "heading", + "char_count": 38, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 385, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "1bb1f25d856ab947d756c6aa23e9f8aafcaeadfbe84f0fa07622a8e513f5ca66", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s93", + "table": null, + "text": "Compensation Philosophy and Objectives" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b386", + "block_sequence": 386, + "block_sha256": "86ba83e7cd3ac0cb0936381f34c35861308f018b9e209006c8808ce9953ff8b8", + "block_type": "paragraph", + "char_count": 1242, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 386, + "char_end": 1242, + "char_start": 0, + "fragment_sha256": "55c13257aeaa6be75bd850ef79fe6dfc61177b86bf24eb826934dd0b11ec1671", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Compensation Philosophy and Objectives" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s93", + "table": null, + "text": "Our compensation programs are designed to attract, retain and motivate our employees, including our executive officers, by ensuring that such programs are aligned to the market, scalable and flexible for our leaders to operate within, and simple and clear for our employees to understand. We typically implement this philosophy by emphasizing equity, rather than cash, compensation. With respect to our executive compensation program, our key objectives are to: \u2022 allow us to attract and retain highly qualified executive officers; and \u2022 ensure our executive team interests are directly aligned to the creation of long term stockholder value. To attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation, and we believe our executive compensation program is appropriately structured in this regard. We also believe that providing our executive officers and other employees with an opportunity to be owners in our business better aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided our executive officers, including our named executive officers, with a compensation package consisting of the following elements:" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b387", + "block_sequence": 387, + "block_sha256": "f6633605873527ed80e5b30490af6162d98b1c791a6b6757c647131aa6fd1793", + "block_type": "table", + "char_count": 944, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 387, + "char_end": 944, + "char_start": 0, + "fragment_sha256": "2d62d1f4abf154a74295f9eec20ec5c47094498b51824d2f1a70a981ed265fbd", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Compensation Philosophy and Objectives" + ], + "table_index": 18, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s93", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Element | \u200b | \u200b | Type of Element | \u200b | \u200b | Compensation Element | \u200b | \u200b | Objective |\n| Base Salary | \u200b | \u200b | Fixed | \u200b | \u200b | Cash | \u200b | \u200b | Designed to compensate our executives for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each executive. |\n| Bonuses | \u200b | \u200b | Variable | \u200b | \u200b | Cash | \u200b | \u200b | Provided on an as needed basis and in connection with an evaluation of an employment offer or retention objectives. 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These may take the form of sign-on or retention incentives.\nLong-Term Incentive Compensation | \u200b | \u200b | Variable | \u200b | \u200b | Equity awards in the form of TRSU awards that may vest and be settled for shares of our common stock and PRSU awards that may be earned and settled for shares of our common stock. | \u200b | \u200b | Designed to align the interests of our executives and our stockholders by motivating our executives to create sustainable long-term stockholder value.", + "rows": [ + [ + "Element", + "\u200b", + "\u200b", + "Type of Element", + "\u200b", + "\u200b", + "Compensation Element", + "\u200b", + "\u200b", + "Objective" + ], + [ + "Base Salary", + "\u200b", + "\u200b", + "Fixed", + "\u200b", + "\u200b", + "Cash", + "\u200b", + "\u200b", + "Designed to compensate our executives for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each executive." + ], + [ + "Bonuses", + "\u200b", + "\u200b", + "Variable", + "\u200b", + "\u200b", + "Cash", + "\u200b", + "\u200b", + "Provided on an as needed basis and in connection with an evaluation of an employment offer or retention objectives. 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"text": "Role of the Compensation Committee" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b395", + "block_sequence": 395, + "block_sha256": "ec5c3a929be9c84259797df986fad906edbec04b5b4ea69a54b968e95f64113e", + "block_type": "paragraph", + "char_count": 2017, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 395, + "char_end": 2017, + "char_start": 0, + "fragment_sha256": "2773d6627aec9d9d57c440344c8708d6be849450af661b85aa55f6c87200b042", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s95", + "table": null, + "text": "The Compensation Committee discharges the 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Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers. In carrying out its responsibilities, the Compensation Committee evaluates our compensation policies and practices with a focus on the degree to which these policies and practices reflect our executive compensation philosophy, develops strategies and makes decisions that it believes further our philosophy or align with developments in best compensation practices, and reviews the performance of our executive officers when making decisions with respect to their compensation or recommendations to our Board with respect to their compensation. 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s96", + "table": null, + "text": "\u2022 our CEO\u2019s compensation relative to that of our other executive officers, particularly our other named executive officers; \u2022 our financial performance relative to our peers; \u2022 the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer\u2019s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and \u2022 the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to her own compensation). These factors provide the framework for compensation decision-making and final decisions by the Compensation Committee or its recommendations to our Board for final decisions regarding the compensation opportunity for each executive officer. The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b404", + "block_sequence": 404, + "block_sha256": "0797dd825bcf047ebd61ed6adec6cf47c8f41e93d6a911513b23e45cf53cdeb2", + "block_type": "heading", + "char_count": 18, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 404, + "char_end": 18, + "char_start": 0, + "fragment_sha256": "d339baa33014a6c61b5bd9c0b93507bfc2e18bb4b2d00b2636734460749534d9", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Role of Management" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s97", + "table": null, + "text": "Role of Management" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b405", + "block_sequence": 405, + "block_sha256": "c5fc9382f4e2ce5a12c0fe443ca1afec644b4015be4129d887b0ecf386191eb5", + "block_type": "paragraph", + "char_count": 1248, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 405, + "char_end": 1248, + "char_start": 0, + "fragment_sha256": "51ad95445d3a32221121285f7d650db32837b64adddddfa9fc231f817c6f5942", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Role of Management" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s97", + "table": null, + "text": "In discharging its responsibilities, the Compensation Committee works with members of our management, including our CEO. Our management assists the Compensation Committee by providing information on corporate and individual performance, market compensation data and management\u2019s perspective on compensation matters. The Compensation Committee solicits and reviews our CEO\u2019s proposals with respect to program structures, as well as her recommendations for adjustments to annual base salaries, long-term incentive compensation opportunities and other compensation-related matters for our executive officers, including our named executive officers (except with respect to her own compensation), based on her evaluation of their performance for the prior year. The Compensation Committee reviews and discusses proposals and recommendations with our CEO and considers them as one factor in determining and approving the compensation of our executive officers or making recommendations to our Board with respect to the compensation of our executive officers. 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The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. Since 2020, the Compensation Committee has engaged Compensia, Inc. (\u201cCompensia\u201d) to serve as its compensation consultant to advise on executive compensation matters, including competitive market pay practices for our executive officers, and with the data analysis and selection of the compensation peer group. 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"sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s98", + "table": null, + "text": "During 2022, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: \u2022 the review, analysis and updating of our compensation peer group; \u2022 the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; \u2022 a competitive market assessment for executive-level management, including analyses for potential new hires; \u2022 market compensation data to inform revised compensation package for Ms. Wheler in connection with her promotion to Chief Executive Officer; \u2022 market compensation data to inform design of executive severance program; \u2022 consultation with the Compensation Committee chair and other members between Compensation Committee meetings, including with respect to: \u2022 market analysis on stock ownership guidelines; \u2022 updates on compensation trends; and \u2022 regulatory updates; and \u2022 support on other ad hoc matters throughout the year. The terms of Compensia\u2019s engagement include reporting directly to the Compensation Committee chair. Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2022, Compensia did not provide any other consulting or other services to us. The Compensation Committee has evaluated its relationship with Compensia to ensure that it believes that such firm is independent from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2022. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b414", + "block_sequence": 414, + "block_sha256": "0bc10fa0c6f4b68549747d012255403334f93700d84388ed0f762d3425b1dda3", + "block_type": "heading", + "char_count": 38, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 414, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "6ca840ed0bf3a1951d9a4237b3075269ba357d90e4355b9102553ec235956468", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s99", + "table": null, + "text": "Peer Group and Competitive Positioning" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b415", + "block_sequence": 415, + "block_sha256": "6764695f6094a14dea294c4e33b4d425d52214990673cef1409c2b6e708ebc1e", + "block_type": "paragraph", + "char_count": 2161, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 415, + "char_end": 2161, + "char_start": 0, + "fragment_sha256": "ecf4a0a5d9f419222420e0c2fc1d4c87ed57f627d38bc55c40ace78033b5789a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s99", + "table": null, + "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. The Compensation Committee uses data drawn from a select peer group of companies to make decisions with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee uses the peer group compensation data as one of several factors in assessing executive pay program design and total equity utilization. We also supplement the data for our peer group with published compensation surveys where appropriate. The Compensation Committee's compensation decisions are made on a case-by-case basis. Benchmark results do not, in and of themselves, determine individual compensation decisions and we do not target specific pay percentiles. Overall, we believe that use of information from the peer group enables the Compensation Committee to create better alignment between executive pay and performance and to help ensure that we can attract and retain high-performing executive leaders. For both 2021 and 2022, the Compensation Committee evaluated the peer group of companies identified below, as recommended by Compensia and approved by the Compensation Committee in each respective period. The companies in this peer group were selected based on the following primary criteria: (i) public companies headquartered in the United States, (ii) in the same or adjacent industry, including either consumer focused technology-enabled services, real estate services, retail/internet retail, or software and services, (iii) measured at the time of selection as having a comparable market capitalization (between 0.25x and 4.0x of our market capitalization), and (iv) and with gross profit in a range of approximately 0.5x to 2.0x our gross profit over the trailing four fiscal quarters. Compensia further refined the list of peers by evaluating whether the company had high revenue growth, low gross margin and whether it recently became a publicly listed company." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b416", + "block_sequence": 416, + "block_sha256": "670c3a1a48f32881aeec22dc7769edad48c8f9834d70259b0948fca6549f478a", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 416, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "92de2798f328682c18c6d2cdc37a6fbfef45e4b4664652bc1470ff48fa4c76e1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + 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| | | | | | \nDoorDash | \u200b | \u200b | Invitation Homes | \u200b | \u200b | Vroom" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b425", + "block_sequence": 425, + "block_sha256": "1cc60942cba10eaf05c56dc6effb5c944fe4a6621f92822613d9be160cff8c17", + "block_type": "heading", + "char_count": 27, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 425, + "char_end": 27, + "char_start": 0, + "fragment_sha256": "9e94ef2e70b27d9bd08c32c5413414eeebd922a721259fb5df7c9f2aedc8d295", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s100", + "table": null, + "text": "AnchorCompensation Elements" + }, + { + "block_id": 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It also included participation in our executive severance plan and our broad-based health and welfare benefit programs. In addition, certain of our named executive officers also received sign-on, promotion or retention bonus payments for 2022." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b427", + "block_sequence": 427, + "block_sha256": "7d47f55d1e77e7e55812cc4d92e0f15bd56d7869d89df144ceec44c012d64d7d", + "block_type": "heading", + "char_count": 13, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 427, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "2ea2d28612ae13f705e71d77a4a3913b03211d48faa7fb323a9dbbb841b7288b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Base Salaries" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b428", + "block_sequence": 428, + "block_sha256": "eb9e73e0f0d5cc40b2b699d464c77b11278b7b46207647af8b0e7ad8294ff376", + "block_type": "paragraph", + "char_count": 1814, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 428, + "char_end": 1814, + "char_start": 0, + "fragment_sha256": "60c7b3ff6fb00284d367ffcb4b49bff8d6c4caf2e29fe082af8e5c95febe18dc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "We provide a base salary as a fixed source of compensation for our executive officers, including our named executive officers, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock. The Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. The initial base salaries of our executive officers were established at the time they entered into an employment offer letter or confirmatory employment offer letter with us and took into account their qualifications, experience, comparable market data and prior base salary level. The Compensation Committee reviews the annual base salaries of our executive officers, including our named executive officers, as part of its annual review of the compensation arrangements of our executive officers, taking into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to her own annual base salary) and the factors set forth in \u201cCompensation-Setting Process \u2013 Setting Target Total Direct Compensation\u201d above. In connection with the appointment of Ms. Wheeler and Ms. Schwartz as our CEO and interim CFO, respectively, the Compensation Committee increased their annual salaries, taking into account market data from our peer group and the other factors set forth in \u201cExecutive Summary \u2013 Leadership Transition and Related Changes to Compensation.\u201d Otherwise, the Compensation Committee determined to maintain the annual base salaries of our other named executive officers for 2022 at their 2021 levels (to the extent such NEO was employed in 2021)." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b429", + "block_sequence": 429, + "block_sha256": "b62355f61c6e65d455eebfeace57aa51a0806b28a3efbb3fdf4713d4e027d48e", + "block_type": "table", + "char_count": 594, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 429, + "char_end": 594, + "char_start": 0, + "fragment_sha256": 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"level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 435, + "char_end": 4395, + "char_start": 0, + "fragment_sha256": "5947169bd34a33090c4f4ca4ce159ae422daa15709895bb7d4bca2615b007637", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Long-Term Equity Compensation We believe that providing long-term incentives in the form of equity awards encourages our executive officers, including our named executive officers, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our executive officers, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Board and the Compensation Committee believe that equity awards align our executive officers\u2019 interests and contributions with the long-term interests of our stockholders. In addition, our Board and the Compensation Committee believe that offering meaningful equity ownership in the Company is helpful in retaining our executive officers, including our named executive officers, and other key employees. Our general practice has been to grant our named executive officers TRSU awards, and in certain circumstances PRSU awards, at the start of employment and for retention purposes. We do not currently have a formal process for granting equity awards on an annual basis. The size and precise terms of the awards are determined by the Compensation Committee. In 2022, the Compensation Committee granted the equity awards discussed below to Ms. Schwartz and Ms. Schaub. In making its determinations, the Compensation Committee considered a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO, the economic position of the Company, broader economic conditions, our historical compensation structure, the potential dilutive effect of the awards on our stockholders and the other factors set forth in \u201cCompensation-Setting Process \u2013 Setting Target Total Direct Compensation\u201d above. The Compensation Committee also approved a TRSU award for Ms. Wheeler in connection with her promotion to CEO in December 2022, as discussed in \u201cExecutive Summary \u2013 Leadership Transition and Related Changes to Compensation\u201d above. The TRSU grant was made in January 2023. Equity Awards for Ms. Schwartz On February 9, 2022, the Compensation Committee granted to Ms. Schwartz two TRSU awards for retention purposes, each covering 54,907 shares of our common stock. The first retention grant is subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following June 15, 2022, subject to her continuous service with us through each such vesting date. The second retention grant is subject to a four-year vesting schedule, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following January 15, 2022, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to her continuous service with us through each such vesting date. On August 24, 2022, the Compensation Committee granted to Ms. Schwartz a TRSU award for business continuity purposes, covering 77,519 shares of our common stock. This TRSU grant is subject to a two-year vesting schedule, with 25% of the total number of TRSUs vesting on the six-month anniversary of December 15, 2022, and 1/8th of the total units subject to the award vesting on a quarterly basis thereafter, subject to her continuous service with us through each such vesting date. In connection with her appointment as interim CFO, Ms. Schwartz was granted TRSUs covering 250,000 shares of our common stock on December 20, 2022. Such TRSU grant is subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to her continuous service with us through each such vesting date. Equity Award for Ms. Schaub In connection with her commencement of employment as our Chief Legal Officer, and pursuant to her employment offer letter, Ms. Schaub was granted an award of 1,558,441 TRSUs on October 7, 2022. One-third of the total number of TRSUs will vest on September 15, 2023 and the remaining two-thirds will vest in quarterly installments over the next eight subsequent quarters, in each case subject to her continuous service with us through each such vesting date. 36 \u200b \u200b Opendoor Technologies Inc. // 2023 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b436", + "block_sequence": 436, + "block_sha256": "e552c32080a3b384d1db8e02f9fc41c88410de063dc57ce7dca93f9b717ab4a6", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 436, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "4b3273bbd51b73d7704edbf8043b642f25af40c09139e196e5a6c04fa7372f61", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "End Page 42" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b437", + "block_sequence": 437, + "block_sha256": "9fb7ddcfac96dd082b43e70c4071907d90494e87472905edcae75275bf38780c", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 437, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "08db2c2a1e8835d39eace0676c6721617f1ac7fea84337ff2211ec520f328871", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Begin Page 43" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b438", + "block_sequence": 438, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 438, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "a2c99d9797095ceb3ebf4a15fd71b5015ce9545e1eab1b1696ebe8cf0fc3f271", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b439", + "block_sequence": 439, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 439, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b440", + "block_sequence": 440, + "block_sha256": "5b2b9b6c6dd57b8d18dc4eecd9e91717ce2bc58221ae93721b9e1e6dd32ee22f", + "block_type": "paragraph", + "char_count": 4882, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 440, + "char_end": 4882, + "char_start": 0, + "fragment_sha256": "2e16447d3dfde5cde39e52e101f5918eec462cf974ac5fda8bc8f3e03cb86555", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "No Annual Bonuses for 2022 In 2022, as in past years, we did not maintain an annual cash bonus or other incentive plan for our executive officers, including our named executive officers. Instead, our Board and the Compensation Committee relied primarily on the long-term incentive compensation opportunities granted to our executive officers. We implemented an annual cash incentive opportunity for Ms. Wheeler in connection with her appointment as CEO that will be effective for fiscal year 2023, as discussed in \u201cExecutive Summary \u2013 Leadership Transition and Related Changes to Compensation\u201d above. The Compensation Committee continues to evaluate whether to include annual cash incentives as part of the compensation packages of our other named executive officers in the future, in order to motivate and reward achievement of our annual strategic goals, which would be paid only if we achieve our short-term goals, consistent with our pay for performance philosophy. Sign-On and Retention Bonuses In order to attract top talent, we from time to time provide sign-on and retention compensation to our executive officers. In connection with the commencement of Ms. Schaub\u2019s employment in September 2022, we approved a cash sign-on and retention bonus in the amount of $525,000, $350,000 of which was paid on the first regularly scheduled payment date after her employment start date and the remaining $175,000 of which will be paid within 30 days after the first anniversary of her employment start date. If Ms. Schaub resigns without \u201cgood reason\u201d or we terminate her employment for \u201ccause\u201d (each as defined in her employment offer letter) prior to the second anniversary of her employment start date, Ms. Schaub is required to repay a pro-rata portion of the after-tax portion of any amount paid prior to her termination of employment. We believe that this bonus was an appropriate incentive to encourage Ms. Schaub to join us and to help retain Ms. Schaub through the second anniversary of her employment start date, in addition to Ms. Schaub\u2019s equity award discussed above. In connection with the hire of Mr. Morillo in January 2021, we approved a cash sign-on and retention bonus in the aggregate amount of $3,800,000, $1,500,000 of which was paid as a sign-on bonus in January 2021, $1,150,000 of which was paid as a retention bonus in January 2022 after the first anniversary of his employment start date and $1,150,000 of which was paid as a retention bonus in 2023 within 30 days after the second anniversary of his employment start date, subject to his continuous active employment with us through such anniversary date. We believed that these bonuses were appropriate as an incentive for Mr. Morillo to join us and to help retain Mr. Morillo through the second anniversary of his employment start date. Special One-Time Bonus In connection with the appointment of Ms. Schwartz as our interim CFO, the Compensation Committee approved a one-time cash bonus to Ms. Schwartz in the amount of $225,000, payable in four equal quarterly installments commencing on February 15th, 2023. We believe such a bonus was appropriate to recognize Ms. Schwartz\u2019s increased responsibilities in her new role and to retain her during this critical transition period for the Company. Health and Welfare Benefits Our named executive officers are eligible to participate in the same employee benefit plans, and on the same terms and conditions, as all other full-time, salaried U.S. employees, subject to the terms and eligibility requirements of such plans. These benefits include medical, dental and vision insurance, business travel insurance, an employee assistance program, health and dependent care flexible spending accounts, basic life insurance, accidental death and dismemberment insurance, short-term and long-term disability insurance, commuter benefits and reimbursement for mobile phone coverage. We also sponsor a Section 401(k) retirement savings plan (the \u201cSection 401(k) Plan\u201d) that provides our executive officers, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis subject to the limits imposed by the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d), to the same extent as our other eligible full-time employees. Participants are able to defer up to 90% of their eligible compensation subject to applicable annual limits under the Code. All participants\u2019 interests in their deferrals are 100% vested when contributed. Currently, we do not match employee contributions to the Section 401(k) Plan. We believe that providing a vehicle for tax-deferred retirement savings through our Section 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers. 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We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices and the competitive market. Perquisites and Other Personal Benefits Currently, we do not view perquisites or other personal benefits as a significant component of our executive compensation program. Accordingly, we do not generally provide perquisites or other personal benefits to our named executive officers, except as generally made available to our employees or in situations where we believe it is appropriate to assist an individual in the performance of their duties, to make them more efficient and effective and for recruitment and retention purposes. During 2022, our named executive officers did not receive perquisites or other personal benefits that were, in the aggregate, $10,000 or more for each individual. In the future, we may provide perquisites or other personal benefits in limited circumstances, such as those described in the preceding paragraph. All future practices with respect to perquisites or other personal benefits will be approved and subject to periodic review by the Compensation Committee. AnchorEmployment Offer Letters We have entered into written employment offer letters with each of our named executive officers. Each of these employment offer letters was approved prior to the Business Combination by the compensation committee and/or board of directors of Opendoor Labs Inc., or, in the case of Ms. Schaub\u2019s offer letter, by our Compensation Committee. We believe that these arrangements were necessary to secure the services or the continued service of these individuals in a highly competitive job market. Each of these employment agreements does not have a specific term, provides for \u201cat will\u201d employment (meaning that either we or the named executive officer may terminate the employment relationship at any time without cause) and generally set forth the named executive officer\u2019s base salary, eligibility to participate in our employee benefit plans and programs in effect for similarly situated employees during their employment, in some instances provided for a sign-on bonus and/or retention payment and, in certain instances, provided for certain of the named executive officers to receive equity awards on the terms and conditions as set forth in the employment offer letter. In addition, each named executive officer either agreed to execute and be bound by our Confidential Information and Inventions Assignment Agreement or confirmed that the named executive officer agreed to continue to be bound by the Confidential Information and Inventions Assignment Agreement they had previously executed, which contains, among other things, restrictive covenants pursuant to which such officers agree (i) to refrain from soliciting our customers during the term of their employment and (ii) to refrain from soliciting our employees during the term of their employment and for a period of 12 months thereafter. The Company's standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants to the extent prohibited by applicable law. Except for the employment offer letter with Ms. Wheeler, as amended in connection with her role transition in December 2022, the employment offer letters do not provide for any severance benefits. In connection with the appointment of Ms. Wheeler as our CEO, we and Ms. Wheeler entered into an amendment to Ms. Wheeler\u2019s existing offer letter agreement. Pursuant to such amendment, if we terminate Ms. Wheeler\u2019s employment without \u201ccause\u201d or if Ms. Wheeler resigns for \u201cgood reason\u201d (as each term is defined in her offer letter agreement), subject to her execution of a release of claims, she will be entitled to cash severance equal to one times her annual base salary plus target bonus, 12 months of health benefits continuation, and 12 months accelerated vesting of her outstanding time-based equity awards. AnchorPost-Employment Compensation Severance Plan On December 22, 2022, our Board, upon recommendation of our Compensation Committee, adopted an Executive Severance Plan (the \u201cSeverance Plan\u201d), effective as of the same date, under which our executive officers are eligible to receive severance payments and benefits in connection with certain qualifying terminations of their employment, subject to the conditions set forth in the Severance Plan. The Compensation Committee designed the Severance Plan following a survey of the practices of the Company\u2019s peers, a number of which provide similar benefits to some or all of their executive officers. The Severance Plan benefits are comparable to those offered by such peers. The Severance Plan is intended to 38 \u200b \u200b Opendoor Technologies Inc. // 2023 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b446", + "block_sequence": 446, + "block_sha256": "38976b57b60f676bc425b7d64fb76abee3fb336e485edfe3316aec7f3670ee72", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 446, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "87422ed9b19c0df70e06e205af55706cd6210724bf34f3f896b02d1c38555291", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "End Page 44" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b447", + "block_sequence": 447, + "block_sha256": "286ec5ab7b5ead0aea3ea081c1ea2e3a0708a7de98bf922d1d23d7c3054d05a0", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 447, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "f6dc2c321da78019ab799cacb51ec20359fff0b2fe73db1e9984436fa55c5af5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Begin Page 45" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b448", + "block_sequence": 448, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 448, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "48d992db770b5f6d113b2c50616de210fa686aa1efe667cb7f594730e454fe52", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b449", + "block_sequence": 449, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 449, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b450", + "block_sequence": 450, + "block_sha256": "16acb940d83e2701a7b7ebfe05699ffe7266dfc340a3ae2f7af68dd94574ca3d", + "block_type": "paragraph", + "char_count": 6215, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 450, + "char_end": 6215, + "char_start": 0, + "fragment_sha256": "772305f3ce0dc08a7f66e295ba6246e025ce87d171c8704c2ae21af960b8aa5a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "provide a consistent framework to address covered terminations and help maintain our executive officers\u2019 continued focus on their assigned duties to maximize stockholder value if there is a potential change in control transaction. Each of our 2022 named executive officers other than Mr. Low Ah Kee (who voluntarily resigned as an executive officer on December 1, 2022) and Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023) is eligible to participate in the Severance Plan. The Severance Plan provides that upon our termination of a participant\u2019s employment without \u201ccause\u201d, or upon a resignation by the participant for \u201cgood reason\u201d, in either case within the period beginning three months before and ending 12 months following a \u201cchange in control\u201d (each as defined in the Severance Plan), the participant shall receive (i) a cash severance payment equal to the participant\u2019s then-current base salary multiplied by 1.5 for our CEO or 1.0 for our other named executive officers, paid in installments over an 18- or 12-month period, respectively, (ii) a pro rata portion of the participant\u2019s target annual cash bonus for the year of termination, paid in installments over 18 months for our CEO or 12 months for our other named executive officers, (iii) payment or reimbursement of the cost of COBRA premiums for the participant and the participant\u2019s dependents for up to 18 months for our CEO or 12 months for our other named executive officers, and (iv) 100% acceleration of the vesting of the participant\u2019s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements. Upon any other termination by us without cause or upon a resignation by an eligible participant for good reason, the participant will receive (i) a cash severance payment equal to the sum of the participant\u2019s then-current base salary plus target bonus, in the case of our CEO, and a cash severance payment equal to the participant\u2019s then-current base salary multiplied by 0.5, in the case of our other named executive officers, paid in installments over 12 months for our CEO and six months for our other named executive officers, (ii) payment or reimbursement of the cost of the COBRA premiums for the participant and the participant\u2019s dependents for up to 12 months, and (iii) acceleration of the vesting of the portion of the participant\u2019s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements and that would otherwise vest within the 12- or six-month period after termination for our CEO or our other named executive officers, respectively (or, 12 months if any NEO other than our CEO has been employed for less than 12 months). For purposes of the Severance Plan, \u201ccause\u201d has the meaning set forth in the participant\u2019s offer letter agreement, employment agreement or similar agreement with the participant\u2019s employer, or, in the absence of such agreement, or if such agreement does not have a definition of \u201ccause,\u201d means: (a) the participant\u2019s commission of any act that constitutes a felony or any crime involving dishonesty or moral turpitude, (b) the participant\u2019s engaging in any act of fraud or embezzlement, whether or not related to the business of the Company, or any other act of material dishonesty against the Company or any of its Affiliates, (c) any material breach by the participant of any offer letter agreement, employment agreement or similar agreement with the participant\u2019s employer, or of the Employee Confidential Information and Invention Assignment Agreement or similar agreement or of any material written policy of the Company and, if curable, the participant\u2019s failure to cure such breach within 30 days after receiving written notice thereof; (d) the willful and continued failure by the participant to substantially perform the participant\u2019s duties to the Company (other than any such failure resulting from the Participant\u2019s incapacity due to physical or mental illness), after written demand for substantial performance is delivered by the Company that identifies with reasonable specificity the manner in which the Company believes the participant has not substantially performed the participant\u2019s duties, which is not cured within 30 days after notice of such failure has been given to the participant by the Company; (e) the willful engaging by the participant in misconduct or gross neglect (including any conduct that is in violation of the written employee workplace policies of the Company) that is injurious to the Company, monetarily, in reputation or otherwise; or (f) any other intentional act causing material damage to the Company\u2019s business, property or reputation. For purposes of the Severance Plan, \u201cgood reason\u201d has the meaning set forth in the participant\u2019s offer letter agreement, employment agreement or similar agreement with the participant\u2019s employer, or, in the absence of such agreement, or if such agreement does not have a definition of \u201cgood reason,\u201d means the occurrence of any of the following events without the participant\u2019s written consent: (a) a reduction by the Company or its successor of more than 20% in the participant\u2019s rate of annual base salary, unless such reduction is in connection with and proportional to reductions to the base salary reductions of other executives of the Company; (b) a material reduction in the participant\u2019s job responsibilities, duties or authority (provided that a mere change in title to an employment position that is substantially similar to the prior employment position shall not constitute a material reduction in job responsibilities, duty or authority); or (c) a change in the geographic location of the Participant\u2019s principal place of employment to any location more than 50 miles from the Participant\u2019s current principal place of employment. Notwithstanding the foregoing, \u201cgood reason\u201d will not exist for purposes of the Severance Plan unless, within 30 days after the initial occurrence of a circumstance that the participant believes in good faith to constitute good reason, the Participant delivers written notice to the Company setting forth with Opendoor Technologies Inc. // 2023 Proxy Statement \u200b \u200b 39" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b451", + "block_sequence": 451, + "block_sha256": "949e18838489f68b02d899c17f3b77bfbaf6faa092821427790f608373c2bda2", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 451, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "d1350843a944d09f42cbc6aa0699fc4cce5c9009c937891026dee9b98455d64f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at 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actually terminates their employment no later than 30 days following the expiration of the Company\u2019s cure period. To receive the severance, the participant must execute and deliver a release of claims in favor of the Company and continue to comply with restrictive covenants applicable to the participant. We are not obligated to provide tax reimbursements or \u201cgross-ups\u201d to any of our executive officers, including our named executive officers, in the event that the compensation and benefits received under the Severance Plan or otherwise would result in the imposition of excise taxes on the named executive officer under Section 4999 of the Internal Revenue Code. We believe that having in place reasonable and competitive post-employment compensation arrangements, including in the event of a change in control of the Company, is essential to attracting and retaining highly-qualified executive officers. The Compensation Committee does not consider the specific amounts payable under the post-employment compensation arrangements when determining our named executive officers\u2019 compensation. We do believe, however, that these arrangements are necessary to offer competitive compensation packages. Arrangements with Andrew Low Ah Kee Prior to his resignation from employment, we were party to a letter agreement with Mr. Low Ah Kee, dated as of January 31, 2022, providing for 100% accelerated vesting of his outstanding equity awards subject solely to service-based vesting conditions upon his resignation from the Company for \u201cgood reason\u201d or termination without \u201ccause\u201d on or with or within 12 months following a change in control. As discussed above, Mr. Low Ah Kee\u2019s employment with the Company has terminated, and he is continuing as an advisor through June 2023. In addition, the PRSU award agreement with Mr. Low Ah Kee provided that, in the event of certain involuntary terminations of employment by Mr. Low Ah Kee prior to the time that the performance-based vesting criteria of his PRSU award has been satisfied, the PRSU award would remain outstanding and eligible to vest as to performance when the applicable performance-based vesting criteria are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such performance-based vesting criteria are not satisfied by the end of such 60-day period, the PRSU award will expire. In the event of a change in control, the performance-based vesting criteria will be determined by reference to the value of shares paid for all of the Company's common stock or, if the change in control is structured as a stock-for-stock acquisition, the value of the acquirer's shares shall be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to the consummation of such change in control. The TRSU and PRSU awards held by Mr. Low Ah Kee were forfeited upon his termination of employment without payment of consideration. AnchorHedging and Pledging of Securities We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company's securities. Our directors, officers and employees are, therefore, prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities (whether they are granted to such individual by the Company as part of such person's compensation or otherwise held, directly or indirectly, by such individual), or that may cause a director, officer or employee to no longer have the same objectives as the Company\u2019s other stockholders. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. 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AnchorClawbacks While our CEO and CFO are subject to any recovery rights that are provided under applicable laws, including the Sarbanes-Oxley Act, we have not yet adopted a compensation recovery policy as required under the Dodd-Frank Act. We are reviewing the final clawback rule adopted by the SEC that implements the applicable provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Nasdaq\u2019s related proposed listing standard, in each case relating to recoupment of incentive-based compensation. We will implement a clawback policy in accordance with the new listing standard when the new listing standard becomes final. AnchorTax and Accounting Considerations The Compensation Committee takes the applicable tax and accounting requirements into consideration in designing and overseeing our executive compensation program. Deductibility of Executive Compensation For federal income tax purposes, publicly-traded companies may be prohibited under Section 162(m) of the Code from deducting employee compensation in excess of $1 million paid to their chief executive officer, chief financial officer, any other executive officer whose total compensation is required to be reported to stockholders under the Exchange Act by reason of such individual being among the three highest compensated executive officers for the tax year and any executive officer who was subject to the deduction limit in any tax year beginning after December 31, 2016. Even if Section 162(m) may limit the compensation deduction, our Board and the Compensation Committee believe our compensation policies and practices should be designed to help us meet our established goals and objectives. While the Compensation Committee will consider the impact of the Section 162(m) deduction limitation, it intends to continue to compensate our executive officers, including our named executive officers, in a manner that is in the best interest of our stockholders and reserves the right to make compensation decisions that may not be deductible under Section 162(m) where the Compensation Committee determines the compensation to be appropriate and in the best interests of the Company and our stockholders. Accounting for Stock-Based Compensation The Compensation Committee takes accounting considerations into account in designing compensation plans and arrangements for our executive officers and other employees. Chief among these is the Financial Accounting Standard Board\u2019s Accounting Standards Codification, Compensation \u2013 Stock Compensation (Topic 718) (\u201cASC Topic 718\u201d), the standard which governs the accounting treatment of certain stock-based compensation. 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Opendoor Technologies Inc. // 2023 Proxy Statement \u200b \u200b 41" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b461", + "block_sequence": 461, + "block_sha256": "68715d6c2d94583aa732adc1e9ff18c7745004a1feb99bca5a46166a53bc40a5", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 461, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "2c8ee1017330f451c8a3948cd557a813c503856e769dbf0ae4f7612c89325eeb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "End Page 47" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b462", + "block_sequence": 462, + "block_sha256": "59421a74b16a5cdc20ac4f63f861c5f13539d6d59692beafe1a5d7d3ab3f08ab", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 462, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "e689f6cdc876a2c3da9a766f3933268795f9d0d0ba4512de7f672be5dc8b7cde", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Begin Page 48" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b463", + "block_sequence": 463, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 463, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "90d98349700b5e2e1197a3b8f070e658c4f3c44ce0798f098682eeffca507be1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b464", + "block_sequence": 464, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 464, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b465", + "block_sequence": 465, + "block_sha256": "2ee3173c29431fdec446f4c33c9c2f7e216741b1a7797de4668a9bf3428e5d1d", + "block_type": "paragraph", + "char_count": 1207, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 465, + "char_end": 1207, + "char_start": 0, + "fragment_sha256": "8ef3fde5f105d7f0a43752b2933bc172a692ce90ed1a259c13a1e34b47234e52", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", + "table": null, + "text": "AnchorCompensation Committee Report The following Compensation Committee Report is not \u201csoliciting material,\u201d is not deemed \u201cfiled\u201d with the SEC and is not to be incorporated by reference in any filing of the Company under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, other than in Opendoor\u2019s Annual Report on Form 10-K where it shall be deemed to be furnished, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. 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|\n| Carrie Wheeler(4) Chief Executive Officer & Former Chief Financial Officer | \u200b | \u200b | 2022 | \u200b | \u200b | 383,334 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 383,334 |\n| \u200b | 2021 | \u200b | \u200b | \u200b350,000 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u200b350,000 | | |\n| \u200b | 2020 | \u200b | \u200b | \u200b114,722 | \u200b | \u200b | \u200b100,000 | \u200b | \u200b | \u200b50,060,723 | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u200b50,275,445 | | |\n| Christina Schwartz(5) Interim Chief Financial Officer & Chief Accounting Officer | \u200b | \u200b | 2022 | \u200b | \u200b | 321,945 | \u200b | \u200b | | \u200b | \u200b | 1,826,185 | \u200b | \u200b | \u2014 | \u200b | \u200b | 2,148,130 |\n| \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | | |\n| 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"block_sequence": 489, + "char_end": 55, + "char_start": 0, + "fragment_sha256": "9259b0e039d2348a777fe31c1389a81666f0ef6f8b6747dd39acbba445d3e16b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorOutstanding Equity Awards at 2022 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s105", + "table": null, + "text": "AnchorOutstanding Equity Awards at 2022 Fiscal Year End" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b490", + "block_sequence": 490, + "block_sha256": "abb6d66fccd7e891b6e86f07650529638d2b3a1e178ccda7322412535ad88e28", + "block_type": "paragraph", + "char_count": 316, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 490, + "char_end": 316, + "char_start": 0, + "fragment_sha256": "e24c7fc988622254b5d7f16dc74f0d2528f0f30c755a245d1fe76734a1fd1a17", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorOutstanding Equity Awards at 2022 Fiscal Year End" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s105", + "table": null, + "text": "The figures in the table below show outstanding equity awards held by each of our named executive officers as of December 31, 2022. For awards granted prior to the completion of the Business Combination, the number of shares subject to the awards have been adjusted to reflect the impact of the Business Combination." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b491", + "block_sequence": 491, + "block_sha256": "fcc0293e353f947b02e400170ce67c8288ac271a0fcee3e98f42238fa78f3d06", + "block_type": "table", + "char_count": 3405, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 491, + "char_end": 3405, + "char_start": 0, + "fragment_sha256": "eecacf18478d1fd180b9f4c20e560054a9ce9545ff3d7c9a83da7168e9330f71", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorOutstanding Equity Awards at 2022 Fiscal Year End" + ], + "table_index": 25, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s105", + "table": { + "caption": null, + "flags": [ + "wide_table" + ], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | \u200b | \u200b | Option Awards | \u200b | \u200b | Stock Awards | | | | | | | | | | | | | | | | | | | | | |\n| Name | \u200b | \u200b | Grant Date | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Exercisable | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Unexercisable | \u200b | \u200b | Option Exercise Price ($) | \u200b | \u200b | Option Expiration Date | \u200b | \u200b | Number of Shares or Units of Stock That Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($)(1)\u200b | \u200b | \u200b | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | \u200b | \u200b | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1) |\n| Carrie Wheeler | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 1,528,578 | \u200b | \u200b | 1,773,150 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 404,385 | \u200b | \u200b | 469,087 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Christina Schwartz | \u200b | \u200b | 09/28/2016 | \u200b | \u200b | 59,658 | \u200b | \u200b | \u2014 | \u200b | \u200b | $0.97 | \u200b | \u200b | 09/27/2026 | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | |\n| | \u200b | \u200b | 06/12/2017 | \u200b | \u200b | 4,043 | \u200b | \u200b | \u2014 | \u200b | \u200b | $1.02 | \u200b | \u200b | 6/11/2027 | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | |\n| | \u200b | \u200b | 06/26/2019(4) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | 20,220 | \u200b | \u200b | 23,455 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 06/10/2020(5) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 10,767 | \u200b | \u200b | 12,490 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 04/15/2021(6) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 6,928 | \u200b | \u200b | 8,036 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 04/15/2021(7) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 13,076 | \u200b | \u200b | 15,168 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 04/15/2021(8) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 124,000 | \u200b | \u200b | 143,840 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 02/09/2022(9) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | 46,672 | \u200b | \u200b | 54,140 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 02/09/2022(10) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | 41,181 | \u200b | \u200b | 47,770 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 08/24/2022(11) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | 77,519 | \u200b | \u200b | 89,922 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 12/20/2022(12) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 250,000 | \u200b | \u200b | 290,000 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Sydney Schaub | \u200b | \u200b | 10/07/2022(13) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 1,558,441 | \u200b | \u200b | 1,807,792 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Eric Wu | \u200b | \u200b | 02/06/2020(14) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 298,255 | \u200b | \u200b | 345,976 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 09/03/2020(14) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 253,554 | \u200b | \u200b | 294,123 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Andrew Low Ah Kee | \u200b | \u200b | 3/9/2021(15) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 2,321,176 | \u200b | \u200b | 2,692,564 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| \u200b | 3/9/2021(16) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | \u200b\u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 808,771 | \u200b | \u200b | 938,174 | | |\n| Daniel Morillo | \u200b | \u200b | 12/17/2020(2) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 404,385 | \u200b | \u200b | 469,087 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 849,210 | \u200b | \u200b | 985,084 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |", + "n_cols": 28, + "n_rows": 22, + "plain_text": " | \u200b | \u200b | Option Awards | \u200b | \u200b | Stock Awards | | | | | | | | | | | | | | | | | | | | | \nName | \u200b | \u200b | Grant Date | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Exercisable | \u200b | \u200b | Number of Securities Underlying Unexercised Options (#) Unexercisable | \u200b | \u200b | Option Exercise Price ($) | \u200b | \u200b | Option Expiration Date | \u200b | \u200b | Number of Shares or Units of Stock That Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($)(1)\u200b | \u200b | \u200b | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | \u200b | \u200b | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1)\nCarrie Wheeler | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 1,528,578 | \u200b | \u200b | 1,773,150 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 404,385 | \u200b | \u200b | 469,087 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nChristina Schwartz | \u200b | \u200b | 09/28/2016 | \u200b | \u200b | 59,658 | \u200b | \u200b | \u2014 | \u200b | \u200b | $0.97 | \u200b | \u200b | 09/27/2026 | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \n | \u200b | \u200b | 06/12/2017 | \u200b | \u200b | 4,043 | \u200b | \u200b | \u2014 | \u200b | \u200b | $1.02 | \u200b | \u200b | 6/11/2027 | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \n | \u200b | \u200b | 06/26/2019(4) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | 20,220 | \u200b | \u200b | 23,455 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 06/10/2020(5) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 10,767 | \u200b | \u200b | 12,490 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 04/15/2021(6) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 6,928 | \u200b | \u200b | 8,036 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 04/15/2021(7) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | 13,076 | \u200b | \u200b | 15,168 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 04/15/2021(8) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | 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290,000 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nSydney Schaub | \u200b | \u200b | 10/07/2022(13) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 1,558,441 | \u200b | \u200b | 1,807,792 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nEric Wu | \u200b | \u200b | 02/06/2020(14) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 298,255 | \u200b | \u200b | 345,976 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 09/03/2020(14) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 253,554 | \u200b | \u200b | 294,123 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nAndrew Low Ah Kee | \u200b | \u200b | 3/9/2021(15) | \u200b | \u200b | | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 2,321,176 | \u200b | \u200b | 2,692,564 | \u200b | 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Units of Stock That Have Not Vested (#) | \u200b | \u200b | Market Value of Shares or Units of Stock That Have Not Vested ($)(1)\u200b | \u200b | \u200b | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | \u200b | \u200b | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1)\nCarrie Wheeler | \u200b | \u200b | 09/03/2020(2) | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 1,528,578 | \u200b | \u200b | 1,773,150 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\n | \u200b | \u200b | 12/17/2020(3) | \u200b | \u200b | | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | \u200b | | \u200b | \u200b | 404,385 | \u200b | \u200b | 469,087 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nChristina Schwartz | \u200b | \u200b | 09/28/2016 | \u200b | \u200b | 59,658 | \u200b | \u200b | \u2014 | \u200b | \u200b | $0.97 | \u200b | 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These amounts do not reflect the actual economic value that may be realized by the named executive officer. (2) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting condition was satisfied as to 25% of the award on September 3, 2021, the first anniversary of Ms. Wheeler\u2019s employment start date, and 75% of the award vesting in substantially equal quarterly installments over a three-year period thereafter. (3) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. 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(10) The TRSUs vest over two years, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following June 15, 2022, subject to continued employment. (11) The TRSUs are subject to a two-year vesting schedule with 25% of the total number of units subject to the award vesting on the six-month anniversary of December 15, 2022 and 1/8th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment with us on each such vesting date. (12) The TRSUs are subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to continued employment. (13) The TRSUs are subject to a three-year vesting schedule with 33% of the total number of units subject to the award vesting on the one-year anniversary of the vesting commencement date and 1/12th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment. (14) The TRSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable grant agreements. The liquidity event condition was satisfied upon the effective date of the Company\u2019s registration statement filed under the Securities Act for the sale of its common stock. The service-based condition will be satisfied in 16 successive equal quarterly installments following the vesting commencement date. (15) The TRSUs are subject to a four-year vesting schedule with 25% of the total number of units subject to the award having vested on November 15, 2021, the first anniversary of his vesting commencement date, and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment. (16) The PRSUs will vest upon the satisfaction of performance-based vesting conditions. The performance-based vesting conditions will be satisfied, subject to Mr. Low Ah Kee\u2019s continued employment with us through each applicable vesting date, as to 1/5th of the PRSUs upon the achievement of each of five predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the Low Ah Kee Agreement). These milestones are $23.54, $30.60, $39.78, $51.71 and $67.23." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b499", + "block_sequence": 499, + "block_sha256": "03f02d5165bec9652a1c198e9c22556ecf540914ad8d9360b06936a222597a3a", + "block_type": "heading", + "char_count": 47, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 499, + "char_end": 47, + "char_start": 0, + "fragment_sha256": "08c032d49d5eb3b19ea45a8ed4b38a34cd810bd7441b9d52f1d4d98211d0ffe1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorOption Exercises and Stock Vested in 2022" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s106", + "table": null, + "text": "AnchorOption Exercises and Stock Vested in 2022" + }, + { + "block_id": 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"heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPotential Payments Upon Termination or Change in Control" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s107", + "table": null, + "text": "AnchorPotential Payments Upon Termination or Change in Control" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b509", + "block_sequence": 509, + "block_sha256": "a819c470ba2bb7527798984760e3bbcbbb415fb139e14f8ea3840aad32fda7a7", + "block_type": "paragraph", + "char_count": 1349, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 509, + "char_end": 1349, + "char_start": 0, + "fragment_sha256": "69642d85699b73a7be0c3871bf77482b89f7a3577546751146ebc0861ba9acce", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPotential Payments Upon Termination or Change in Control" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s107", + "table": null, + "text": "The table below quantifies certain compensation and benefits that would have become payable to each of our named executive officers (i) if their employment had terminated on December 31, 2022 without Cause or due to resignation for Good Reason, and (ii) if a Change in Control had occurred on December 31, 2022, and the officer\u2019s employment was terminated without Cause or due to resignation for Good Reason within the period beginning three months prior to and ending 12 months following such Change in Control (or, in the case of Mr. Low Ah Kee, if such employment was terminated without Cause or due to resignation for Good Reason within 12 months immediately following such Change in Control). The amounts shown are estimates of the amounts that would be received upon a change in control or termination of employment based on the closing market price of the Company\u2019s common stock on December 30, 2022 of $1.16. For additional discussion of the potential benefits and payments due in connection with certain terminations of employment in connection with, and outside of, a change-in-control, please see \u201cPost-Employment Compensation\u201d in the CD&A. The actual amounts payable to our named executive officers in the table below are estimates only and can be determined only at the time of any actual change in control or termination of employment." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b510", + "block_sequence": 510, + "block_sha256": "fbdb19066f9d711eae04c3766273550b27eb8fbbb786d6be26bfc90fa7ea5924", + "block_type": "table", + "char_count": 2140, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 510, + "char_end": 2140, + "char_start": 0, + "fragment_sha256": "ee48ee8e5a4d4c1d498c47d4048a37e2257fb74ff92ccfcdf7c9c7427d2aea4f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPotential Payments Upon Termination or Change in Control" + ], + "table_index": 27, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s107", + "table": { + "caption": null, + "flags": [ + "wide_table" + ], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Named Executive Officer | \u200b | \u200b | Termination Scenario | \u200b | \u200b | Cash Severance ($) | \u200b | \u200b | Health Benefits Continuation ($) | \u200b | \u200b | Accelerated RSUs ($)(1) | \u200b | \u200b | Total ($) |\n| Carrie Wheeler | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $1,000,000 | \u200b | \u200b | $32 | \u200b | \u200b | $5,439,334 | \u200b | \u200b | $6,439,366 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $1,375,000 | \u200b | \u200b | $48 | \u200b | \u200b | $19,712,117 | \u200b | \u200b | $21,087,165 |\n| Christina Schwartz | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $175,000 | \u200b | \u200b | $26,169 | \u200b | \u200b | $204,365 | \u200b | \u200b | $405,534 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $350,000 | \u200b | \u200b | $26,169 | \u200b | \u200b | $684,821 | \u200b | \u200b | $\u200b1,060,990 |\n| Sydney Schaub | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $175,000 | \u200b | \u200b | $16,937 | \u200b | \u200b | $747,973 | \u200b | \u200b | $939,910 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $350,000 | \u200b | \u200b | $16,937 | \u200b | \u200b | $1,807,792 | \u200b | \u200b | $2,174,729 |\n| Eric Wu | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $162,500 | \u200b | \u200b | $17,316 | \u200b | \u200b | $320,049 | \u200b | \u200b | $499,864 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $325,000 | \u200b | \u200b | $17,316 | \u200b | \u200b | $640,098 | \u200b | \u200b | $982,414 |\n| Andrew Low Ah Kee | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | $2,692,564 | \u200b | \u200b | $2,692,564 |\n| Daniel Morillo | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $175,000 | \u200b | \u200b | $53,571 | \u200b | \u200b | $246,270 | \u200b | \u200b | $474,841 |\n| | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $350,000 | \u200b | \u200b | $53,571 | \u200b | \u200b | $1,454,170 | \u200b | \u200b | $1,857,741 |", + "n_cols": 16, + "n_rows": 13, + "plain_text": "Named Executive Officer | \u200b | \u200b | Termination Scenario | \u200b | \u200b | Cash Severance ($) | \u200b | \u200b | Health Benefits Continuation ($) | \u200b | \u200b | Accelerated RSUs ($)(1) | \u200b | \u200b | Total ($)\nCarrie Wheeler | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $1,000,000 | \u200b | \u200b | $32 | \u200b | \u200b | $5,439,334 | \u200b | \u200b | $6,439,366\n | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $1,375,000 | \u200b | \u200b | $48 | \u200b | \u200b | $19,712,117 | \u200b | \u200b | $21,087,165\nChristina Schwartz | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $175,000 | \u200b | \u200b | $26,169 | \u200b | \u200b | $204,365 | \u200b | \u200b | $405,534\n | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $350,000 | \u200b | \u200b | $26,169 | \u200b | \u200b | $684,821 | \u200b | \u200b | $\u200b1,060,990\nSydney Schaub | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $175,000 | \u200b | \u200b | $16,937 | \u200b | \u200b | $747,973 | \u200b | \u200b | $939,910\n | \u200b | \u200b | Termination without Cause or Resignation for Good Reason following a Change in Control | \u200b | \u200b | $350,000 | \u200b | \u200b | $16,937 | \u200b | \u200b | $1,807,792 | \u200b | \u200b | $2,174,729\nEric Wu | \u200b | \u200b | Termination without Cause or Resignation for Good Reason | \u200b | \u200b | $162,500 | \u200b | \u200b | $17,316 | 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The annual cash compensation amounts are payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the quarterly payment for each non-employee director is prorated for any partial quarter of service by such non-employee director. \u2022 Annual Board Service Retainer: \u2022 All Eligible Directors: $50,000 \u2022 Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) \u2022 Annual Committee Member Service Retainer: \u2022 Member of the Audit Committee: $10,000 \u2022 Member of the Compensation Committee: $7,500 \u2022 Member of the Nominating and Corporate Governance Committee: $5,000 \u2022 Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): \u2022 Chair of the Audit Committee: $20,000 \u2022 Chair of the Compensation Committee: $15,000 \u2022 Chair of the Nominating and Corporate Governance Committee: $10,000 Prior to the start of each fiscal year, a non-employee director may elect to receive 100% of their annual cash compensation for the next fiscal year as TRSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average closing price per share of our common stock over the 20 trading days ending on the last trading day of the month preceding the month in which the TRSU grant is made (the \u201cShare Price\u201d). Each such grant will vest in four equal installments on the last trading day in each quarter occurring during such fiscal year. For 2022, all non-employee directors, other than Mr. Jaffe, elected to receive their cash compensation in the form of TRSUs, which were granted on February 16, 2022." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b523", + "block_sequence": 523, + "block_sha256": "491eb59d813ef536a99302b0b87a2f0d3ffe50bb2db27729401fb4513729e7ea", + "block_type": "heading", + "char_count": 19, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 523, + "char_end": 19, + "char_start": 0, + "fragment_sha256": "1910ff1b9ecae279542e2c3a71e4d6b0405d81f8c4a2126c9159819bd390e850", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorNon-Employee Director Compensation", + "Cash Compensation", + "Equity Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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null, + "text": "As of December 31, 2022, unless otherwise provided by the Board, each person who was elected or appointed for the first time as a non-employee director would be automatically, upon the date of their initial election or appointment, granted a TRSU for that number of shares of our common stock equal to $400,000 divided by the Share Price, rounded to the nearest" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b525", + "block_sequence": 525, + "block_sha256": "8572418d59ee77574342ceb174f6ed49d1e9d1f8a6a3cf32a7b8eccebf6815fe", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 525, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "fcc005235df7357bee2753ea987e8b164029fca5738d698ad8194d3f4f7072fe", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + 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"text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b530", + "block_sequence": 530, + "block_sha256": "028283d91ac7ef406bf611f32235dbd454bd2981dac5d6b4673d195dfced06e2", + "block_type": "paragraph", + "char_count": 1175, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 530, + "char_end": 1175, + "char_start": 0, + "fragment_sha256": "144de2babc26b4cc4f32402a6294cdbae040968bcb8f8021faf1018af31e50c1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorNon-Employee Director Compensation", + "Cash Compensation", + "Equity Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s111", + "table": null, + "text": "whole share. Each such initial grant would vest in a series of equal annual installments on the first, second and third anniversary of the date of grant, provided in each case that the non-employee director continued to be a non-employee director on such vesting date. On May 25, 2022, the date of our 2022 annual meeting of stockholders, the non-employee directors serving at that time received their annual TRSU grant for a number of shares of common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share. Each such annual grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that the non-employee director continues to be a non-employee director on such vesting date. Notwithstanding the foregoing, for each non-employee director in office as of immediately prior to the closing of a Change in Control (as defined in the 2020 Plan), their then-outstanding equity awards granted pursuant to the Non-Employee Director Compensation Policy will become fully vested immediately prior to the closing of such Change in Control." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b531", + "block_sequence": 531, + "block_sha256": "9873034aaa021179722ba26fe5af6cb17be19d4387cab614423e53abeb1f84f8", + "block_type": "heading", + "char_count": 38, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 531, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "192b76306d3b98be8a48dfae0afe62eb90d75a3032e54c1d265c026fa0c62ee6", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s112", + "table": null, + "text": "The following table contains information concerning the compensation of our non-employee directors in fiscal year 2022." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b533", + "block_sequence": 533, + "block_sha256": "e351a08b44a47e414c5835b0776c66bffdb2205ea35adf876752b632bb6e1d45", + "block_type": "table", + "char_count": 557, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 533, + "char_end": 557, + "char_start": 0, + "fragment_sha256": "41ead2339cb4f4d70f440a5c530b7e51db3ae9f12af29c482af0657fc2c8d93a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Anchor2022 Director Compensation Table" + ], + "table_index": 28, + "tag_name": "table" + }, + "section_id": 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\u200b | \u200b | 220,552 |\n| Glenn Solomon | \u200b | \u200b | 65,000 | \u200b | \u200b | 165,827 | \u200b | \u200b | 230,827 |", + "n_cols": 10, + "n_rows": 8, + "plain_text": "Name | \u200b | \u200b | Fees Earned or Paid in Cash ($)(1) | \u200b | \u200b | Stock Awards ($)(2) | \u200b | \u200b | Total ($)\nAdam Bain | \u200b | \u200b | 67,500 | \u200b | \u200b | 165,899 | \u200b | \u200b | 233,399\nCipora Herman | \u200b | \u200b | 70,000 | \u200b | \u200b | 165,970 | \u200b | \u200b | 235,970\nJonathan Jaffe | \u200b | \u200b | 55,000 | \u200b | \u200b | 163,986 | \u200b | \u200b | 218,986\nPueo Keffer | \u200b | \u200b | 60,000 | \u200b | \u200b | 165,695 | \u200b | \u200b | 225,695\nJason Kilar | \u200b | \u200b | 60,000 | \u200b | \u200b | 165,695 | \u200b | \u200b | 225,695\nJohn Rice | \u200b | \u200b | 55,000 | \u200b | \u200b | 165,552 | \u200b | \u200b | 220,552\nGlenn Solomon | \u200b | \u200b | 65,000 | \u200b | \u200b | 165,827 | \u200b | \u200b | 230,827", + "rows": [ + 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reflected in the \u201cFees Earned or Paid in Cash\u201d column, and the grant date fair value of the TSRUs granted in satisfaction of such elections on February 16, 2022 that was greater than the amount of the cash retainers to be paid in the form of TSRUs, if any, and is reflected in the \u201cStock Awards\u201d column. 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The pay ratio included in this information is a reasonable estimate calculated in a manner that is intended to be consistent with Item 402(u) of Regulation S-K. As of December 31, 2022, our employee population consisted of 2,444 individuals. Employees in Canada and India (23 and 103 employees in Canada and India, respectively) were excluded from our employee population, as permitted under SEC rules, as they represented less than 5% of our employee population. We excluded all of our employees in these two jurisdictions. For purposes of this pay ratio, both the CEO\u2019s and the median employee\u2019s annual total compensation were calculated in accordance with the requirements of the Summary Compensation Table. To identify the median employee for fiscal 2022, we looked at our employee population as of December 31, 2022 and used a consistently applied compensation measure (\u201cCACM\u201d) to all of the employees included in the calculations. Our CACM consisted of total compensation calculated in accordance with Item 402(c) of Regulation S-K as obtained from our internal payroll systems. During 2022, Ms. Wheeler served as our CEO during the period from December 1, 2022 through December 31, 2022. In a CEO transition year, the SEC rules provide two options in calculating the CEO pay ratio: combining the two CEOs\u2019 compensation as shown in the Summary Compensation Table or using the individual serving as CEO on the date we selected to identify the median employee (our determination date of December 31, 2022) and annualize the compensation. As permitted by SEC rules, we selected Ms. Wheeler as our CEO since she was CEO on December 31, 2022. For purposes of determining our pay ratio, we determined Ms. Wheeler\u2019s annual total compensation for 2022 was $750,000, which, as required by SEC rules, includes her annualized base salary for 2022 at the rate in effect following her promotion to CEO. To calculate the 2022 pay ratio, we calculated the components of the median employee\u2019s compensation for 2022 in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K. For 2022, our median employee\u2019s annual total compensation was $82,379.79. Based on this information, our 2022 Chief Executive Officer to median employee pay ratio was approximately 9.00 to 1.00. This pay ratio disclosure is a reasonable estimate. Because the SEC rules for identifying the median employee and calculating the pay ratio permit companies to use various methodologies and assumptions, to apply certain exclusions and to make reasonable estimates that reflect their employee populations and compensation practices, the pay ratio reported by other companies may not be comparable with the pay ratio that we have reported. 50 \u200b \u200b Opendoor Technologies Inc. // 2023 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b542", + "block_sequence": 542, + "block_sha256": "38d446ce2d84d77cf1e390006918f6dfad221063e9eb25df963ca84550fcc7a5", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 542, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "6dafc115948c6ae19dd4798d80085ef0ce1c64fee594131c43df13d90802a4f8", + "heading_path": [ + 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Compensation section of this Proxy Statement. Ms. Wheeler was our principal executive officer from December 1-31, 2022." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b552", + "block_sequence": 552, + "block_sha256": "d899155790ae642c88dc3b8416f6831662fe25c86eb0544e46a3cf7c9dbbea2f", + "block_type": "paragraph", + "char_count": 411, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 552, + "char_end": 411, + "char_start": 0, + "fragment_sha256": "c9a84b2f961424d345c77543f6cc2d4254fbb8e84b91c7e0aee7cb68e9900151", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Pay Versus Performance", + "Pay Versus Performance Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s114", + "table": null, + "text": "(ii) The amounts in this column represents the total compensation of our former chief executive officer, Eric Wu, for the fiscal years ended December 31, 2020, 2021, and 2022, as reported in the Summary Compensation Table included in the Executive Compensation section of this Proxy Statement. Mr. Wu was our principal executive officer for the 2020 and 2021 fiscal years and from January 1 \u2013 November 30, 2022." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b553", + "block_sequence": 553, + "block_sha256": "e64b553e8d5e178ef34a195370cf9742823eadf91bbb37bce96ba8246bba9b94", + "block_type": "paragraph", + "char_count": 210, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 553, + "char_end": 210, + "char_start": 0, + "fragment_sha256": "6fe901be2b1d24f78128dbc13cf773ec187d98192133ca1515ef949b621131e9", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Pay Versus Performance", + "Pay Versus Performance Table" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s114", + "table": null, + "text": "(c) (i) The amounts in this column represent the total compensation actually paid to (lost by) the CEO for 2022, adjusting the total compensation from column (b) by the amounts in the \u201cAdjustments\u201d table below." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b554", + "block_sequence": 554, + "block_sha256": "a2ee88818887cc0d5168900c83a0b9deb167a9baea6fcf3592a461f0b48ad3ed", + "block_type": "paragraph", + "char_count": 259, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 554, + "char_end": 259, + "char_start": 0, + "fragment_sha256": "e384cd849482feeefcb92b6e21726eaf2fefbae65d0af7885a5b6c92b8bcf591", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Pay Versus Performance", + "Pay Versus Performance Table" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s114", + "table": null, + "text": "(ii) The amounts in this column represents the total compensation actually paid to (lost by) our former Chief Executive Officer, Mr. Wu, for the years indicated, adjusting the total compensation from column (b) by the amounts in the \u201cAdjustments\u201d table below." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b555", + "block_sequence": 555, + "block_sha256": "55930c8b4c66b79495d379ef4f154d141603156ede0c13a73585ac912f282bc6", + "block_type": "paragraph", + "char_count": 642, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 555, + "char_end": 642, + "char_start": 0, + "fragment_sha256": "e32bd725ea7f46acd3dfec1edac2123da93ad44fd26c4b7ee7d8affbf217435b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Pay Versus Performance", + "Pay Versus Performance Table" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s114", + "table": null, + "text": "(d) The amounts in this column represents the average total compensation of our Named Executives, excluding the CEO (the \u201cNon-CEO NEOs\u201d), for each of the fiscal years ended December 31, 2020, 2021, and 2022, as reported in the Summary Compensation Table of the proxy statement filed in the applicable year. For 2020, our Non-CEO NEOs were Carrie Wheeler, Gautam Gupta, Julie Todaro, Tom Willerer and Elizabeth Stevens; for 2021, our Non-CEO NEOs were Carrie Wheeler, Andrew Low Ah Kee, Daniel Morillo, Ian Wong and Elizabeth Stevens; and for 2022, our Non-CEO NEOs were Christina Schwartz, Sydney Schaub, Andrew Low Ah Kee and Daniel Morillo." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b556", + "block_sequence": 556, + "block_sha256": "e3146856d6f4375cc011eb282e9b97b8709157814edb14faa70f8868e9370d96", + "block_type": "paragraph", + "char_count": 228, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 556, + "char_end": 228, + "char_start": 0, + "fragment_sha256": "0391854efdbd326e0a794c84af0dda938153fd57dd2bc085cb0515e432079e15", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Pay Versus 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| \u200b | \u200b | \u2014 | \u200b | \u200b | 29,641,559 |\n| Total | \u200b | \u200b | 65,259,389 | \u200b | \u200b | $2.1319 | \u200b | \u200b | 40,759,281 |", + "n_cols": 10, + "n_rows": 6, + "plain_text": "Plan category: | \u200b | \u200b | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights | \u200b | \u200b | Weighted- Average Exercise Price of Outstanding Options, Warrants, and Rights | \u200b | \u200b | Number of Securities Available for Future Issuance Under Equity Compensation Plans (excludes securities reflected in first column)\nEquity compensation plans approved by security holders(1) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 11,117,722(7)\nRestricted Stock Units | \u200b | \u200b | 52,988,688(3) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nOptions to Purchase Common Stock | \u200b | \u200b | 10,712,260(4) | \u200b | \u200b | $2.1319(6) | \u200b | \u200b | \u2014\nEquity compensation plans not approved by security holders(2) | \u200b | \u200b | 1,558,441(5) | \u200b | \u200b | \u2014 | \u200b | \u200b | 29,641,559\nTotal | \u200b | \u200b | 65,259,389 | \u200b | \u200b | $2.1319 | \u200b | \u200b | 40,759,281", + "rows": [ + [ + "Plan category:", + "\u200b", + "\u200b", + "Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights", + "\u200b", + "\u200b", + "Weighted- Average Exercise Price of Outstanding Options, Warrants, and Rights", + "\u200b", + "\u200b", + "Number of Securities Available for Future Issuance Under Equity Compensation Plans (excludes securities reflected in first column)" + ], + [ + "Equity compensation plans approved by security holders(1)", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b", + "11,117,722(7)" + ], + [ + "Restricted Stock Units", + "\u200b", + "\u200b", + "52,988,688(3)", + "\u200b", + "\u200b", + "\u2014", + "\u200b", + "\u200b", + "\u2014" + ], + [ + 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(2) Consists of the 2022 Inducement Award Plan (the \u201cInducement Plan\u201d). (3) Consists of 5,323,358 outstanding restricted stock units under the 2014 Plan and 47,665,330 outstanding restricted stock units under the 2020 Plan. (4) Consists of 10,665,385 outstanding options to purchase stock under the 2014 Plan and 46,875 outstanding options under the 2020 Plan. (5) Consists of 1,558,441 outstanding restricted stock units under the Inducement Plan. (6) As of December 31, 2022, the weighted-average exercise price of outstanding options under the 2014 Plan was $2.0754 and the weighted-average exercise price of outstanding options under the 2020 Plan was $15.0000. (7) No additional awards will be granted under the 2014 Plan and, as a result, no shares remain available for issuance for new awards under the 2014 Plan. The number of shares authorized under our 2020 Plan will increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2030, by an amount equal to the lesser of (A) a number equal to the excess (if any) of (1) 5% of the aggregate number of shares of Common Stock outstanding on the final day of the immediately preceding fiscal year over (2) the number of shares reserved for issuance under the 2020 Plan as of such date and (B) such smaller number of shares as determined by our Board. The number of shares authorized under our ESPP will increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2030, by an amount equal to the lesser of (A) 1% of the shares of Common Stock outstanding as of the last day of the immediately preceding fiscal year and (B) such smaller number of shares of Common Stock as determined by our Board; provided, however, that no more than 54,385,060 shares of Common Stock may be issued under the ESPP." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b596", + "block_sequence": 596, + "block_sha256": "8afa35f012c3524581551f70c67505387ab1e5dbb569f2ebcf97d3ecc5a041db", + "block_type": "heading", + "char_count": 30, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 596, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "d1e59681f5c2862d5ccc0d0addd1abb89fb88bf0c3d4227c19be4c4cb8ecc4f3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s121", + "table": null, + "text": "AnchorInducement Award Program" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b597", + "block_sequence": 597, + "block_sha256": "372e606081993957eebda09c167c423425626422c93212421b36d4f187a3f22f", + "block_type": "paragraph", + "char_count": 327, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 597, + "char_end": 327, + "char_start": 0, + "fragment_sha256": "10051d3d9f6f1cab5d8199943494562783a827edb69db137d43847810004352a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s121", + "table": null, + "text": "In July 2022 our Compensation Committee adopted the 2022 Inducement Award Plan. Pursuant to applicable stock exchange rules, stockholder approval of the Inducement Plan is not required as a condition of the effectiveness of the Inducement Plan. A description of the principal features of the Inducement Plan is set forth below." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b598", + "block_sequence": 598, + "block_sha256": "b0f50b060453a458e2e767ea04800b1e31c5aa44ce9f380655ad1abc8f816123", + "block_type": "heading", + "char_count": 36, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 598, + "char_end": 36, + "char_start": 0, + "fragment_sha256": "bfbef78dd960270c7a265b23a556cd63824ea8cc5832f76248cdef329dac1225", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorEligibility and Administration" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s122", + "table": null, + "text": "AnchorEligibility and Administration" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b599", + "block_sequence": 599, + "block_sha256": "217d103c67c5b816760e86c80646a80031d07c08cb5c1b49ea9fe343a3b50a3b", + "block_type": "paragraph", + "char_count": 630, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 599, + "char_end": 630, + "char_start": 0, + "fragment_sha256": "4f3ae1997d68e24eadf2624cebbbc437805356750e05754e11b6d5890e740406", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorEligibility and Administration" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s122", + "table": null, + "text": "Only certain prospective employees of the Company are eligible to participate in the Inducement Plan. The Inducement Plan is administered by our Compensation Committee. The plan administrator has the authority to grant and set the terms of all awards under, make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of, the Inducement Plan, subject to its express terms and conditions. Awards must be approved by the Compensation Committee or a majority of our independent directors and the authority to grant awards under the Inducement Plan may not be delegated." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b600", + "block_sequence": 600, + "block_sha256": "1d8ad79da8cd1aaac018aa8b74c738ed7ddef4f82d20d20027e4ab4847047246", + "block_type": "heading", + "char_count": 33, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 600, + "char_end": 33, + "char_start": 0, + "fragment_sha256": "eebf62087511ea0dd212ac8787772723d66ca04cd51fa20a634f761b2ddf085e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorEligibility and Administration", + "AnchorShares Available for Awards" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s123", + "table": null, + "text": "AnchorShares Available for Awards" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b601", + "block_sequence": 601, + "block_sha256": "3e317b5da31a692d65c7dfb51c7fe65edc4e0f3b796d5bbae28d5f5825374a83", + "block_type": "paragraph", + "char_count": 250, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 601, + "char_end": 250, + "char_start": 0, + "fragment_sha256": "636e32d500fa8be829bb940b879357bcc3e8890cc661388cb925b376a9339bf5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorEligibility and Administration", + "AnchorShares Available for Awards" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s123", + "table": null, + "text": "The maximum number of shares of common stock authorized for issuance under the Inducement Plan is 31,200,000 shares (the \u201cInducement Plan Share Limit\u201d). 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existing and future awards, to prevent the dilution or enlargement of intended benefits and facilitate necessary or desirable changes in the event of certain transactions and events affecting our common stock, such as stock dividends, stock splits, mergers, acquisitions, consolidations and other corporate transactions. In addition, in the event of certain non-reciprocal transactions with our stockholders known as \u201cequity restructurings,\u201d the plan administrator will make equitable adjustments to the Inducement Plan and outstanding awards. In the event of a change in control (as defined in the Inducement Plan), to the extent that the surviving entity declines to continue, convert, assume or replace outstanding awards, then all such awards will become fully vested and exercisable in connection with the transaction. AnchorNo Repricing Except in connection with certain changes in our capital structure, stockholder approval will be required for any amendment that reduces the exercise price of any stock option or SAR, or cancels any stock option or SAR in exchange for cash, other awards or stock options or SARs with an exercise price per share that is less than the exercise price per share of the original stock options or SARs. AnchorForeign Participants, Claw-Back Provisions, Transferability and Participant Payments The plan administrator may modify award terms, establish subplans and/or adjust other terms and conditions of awards, subject to the share limits described above, in order to facilitate grants of awards subject to the laws and/or stock exchange rules of countries outside of the United States. All awards will be subject to any company claw-back policy as set forth in such claw-back policy or the applicable award agreement. Awards under the Inducement Plan are generally non-transferrable, except by will or the laws of descent and distribution, or, subject to the plan administrator\u2019s consent, pursuant to a domestic relations order, and are generally exercisable only by the participant. With regard to tax withholding, exercise price and purchase price obligations arising in connection with awards under the Inducement Plan, the plan administrator may, in its discretion, accept cash or check, shares of our common stock that meet specified conditions, a \u201cmarket sell order\u201d or such other consideration as it deems suitable. AnchorStockholder Approval; Plan Amendment and Termination Pursuant to applicable stock exchange rules, stockholder approval of the Inducement Plan was not required as a condition of the effectiveness of the Inducement Plan. Our board of directors may amend or terminate the Inducement Plan at any time; however, no amendment, other than an amendment that increases the number of shares available under the Inducement Plan, may materially and adversely affect an award outstanding under the Inducement Plan without the consent of the affected participant, and stockholder approval will be obtained for any amendment to the extent necessary to comply with applicable laws. The Inducement Plan will remain in effect until the tenth anniversary of the date the Compensation Committee adopted the Inducement Plan, unless earlier terminated. No awards may be granted under the Inducement Plan after its termination. 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Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b622", + "block_sequence": 622, + "block_sha256": "e0f7afaa02c7acfa723d97dacf353d5409d08a0d6b903cbd6ebeb288bab1a6f3", + "block_type": "table", + "char_count": 1215, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 622, + "char_end": 1215, + "char_start": 0, + "fragment_sha256": "bbcfb8592da0b75b4e2efb3ee91b617feb50efce0b69b760e99ca94155519602", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": 34, + "tag_name": "table" + }, + 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Schaub | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nAndrew Low Ah Kee | \u200b | \u200b | \u200b1,220,543 | \u200b | \u200b | *\nDaniel Morillo(7) | \u200b | \u200b | 353,885 | \u200b | \u200b | *\nAdam Bain(8) | \u200b | \u200b | 2,853,016 | \u200b | \u200b | *\nCipora Herman(9) | \u200b | \u200b | 168,818 | \u200b | \u200b | *\nJonathan Jaffe(10) | \u200b | \u200b | 50,097 | \u200b | \u200b | *\nPueo Keffer(11) | \u200b | \u200b | 441,414 | \u200b | \u200b | *\nJason Kilar(12) | \u200b | \u200b | 196,779 | \u200b | \u200b | *\nJohn Rice(13) | \u200b | \u200b | 69,036 | \u200b | \u200b | *\nGlenn Solomon(14) | \u200b | \u200b | \u200b13,209,328 | \u200b | \u200b | \u200b2.04%\nEric Wu(15) | \u200b | \u200b | 30,403,853 | \u200b | \u200b | 4.70%\nAll current directors and executive officers as a group (12 persons) | \u200b | \u200b | \u200b53,877,889 | \u200b | \u200b | \u200b8.32%" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b623", + 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(1) Unless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85281. (2) Based solely on a Schedule 13G filed with the SEC on February 9, 2023 by The Vanguard Group. The address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (3) Based solely on a Schedule 13D filed with the SEC on October 6, 2021, by Access Industries Management, LLC (\u201cAIM\u201d), AI LiquidRE LLC (\u201cAIL\u201d), LBIT 2002 LLC (\u201cLBIT\u201d) and Len Blavatnik (collectively, the \u201cReporting Persons,\u201d and each, a \u201cReporting Person\u201d). Consists of (i) 53,524,812 shares of common stock held directly by AIL and (ii) 74,102 shares of common stock held directly by LBIT and, in each case, may be deemed to be beneficially owned by AIM and Len Blavatnik because (i) AIM is the controlling entity of AIL and LBIT, respectively, and (ii) Len Blavatnik controls AIM and LBIT and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL, with respect to shares held" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b624", + "block_sequence": 624, + "block_sha256": "51b79e957ad27b2687b233ae83c33cd0e74b1f02faf56601770812fac95975aa", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 624, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "d302dd38f2496c64c53c84f27c0f245439d798ffc65dd60daea29543f9413bc2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", + "table": null, + "text": "58 \u200b \u200b Opendoor Technologies Inc. // 2023 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b625", + "block_sequence": 625, + "block_sha256": "1ed42ea3b829ed1752e3a0824b1b1f9bfcb43dcc30775ece633f138a799cb75a", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 625, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "7c39e7c726240579b1ea5793da6d991aa1ea1df960ac4aa9ebc87b76a6bb9f36", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", + "table": null, + "text": "End Page 64" + }, + { + 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"1207d5426689b64a10c7f82309d1410abaa026a60d29428ce972cdfa2718fd94", + "block_type": "paragraph", + "char_count": 5028, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 629, + "char_end": 5028, + "char_start": 0, + "fragment_sha256": "1ab682873e6f98d6c25c08bf7f221cc015d8fff61aec1de7a4b48c1f931a7737", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", + "table": null, + "text": "directly by AIL, and LBIT, with respect to shares held directly by LBIT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities. The address of each of the Reporting Persons is 40 West 57th St., 28th Floor, New York, New York 10019. (4) Based solely on a Schedule 13G filed with the SEC on February 8, 2023, by The Goldman Sachs Group, Inc. The address of The Goldman Sachs Group, Inc. is 200 West Street, New York, NY 10282. (5) Based solely on a Schedule 13G filed with the SEC on February 14, 2023, by Sylebra Capital Limited. Sylebra HK may be deemed to beneficially own the Shares by virtue of its position as the investment sub-adviser to Sylebra Capital Partners Master Fund, Ltd, (\u201cSCP MF\u201d), Sylebra Capital Parc Master Fund (\u201cPARC MF\u201d), Sylebra Capital Menlo Master Fund (Menlo MF) and other advisory clients. Sylebra Cayman is the investment manager and the parent of Sylebra HK. Mr. Gibson owns 100% of the shares of Sylebra HK and more than 99% of the shares of Sylebra Cayman. In such capacities, Sylebra HK, Sylebra Cayman, and Mr. Gibson may be deemed to share voting and dispositive power over the Shares held for SCP MF, PARC MF and other advisory clients. The address for Sylebra Capital Limited is 28 Hennessy Road, Floor 20, Wan Chai, Hong Kong. (6) Includes (i) 273,591 shares of common stock held by Christina Schwartz, (ii) 28,355 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023 and (iii) 63,701 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2023. (7) Includes (i) 247,734 shares of common stock held by Daniel Morillo and (ii) 106,151 shares of issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (8) Includes (i) 48,370 shares of common stock held by Adam Bain, (ii) 36,374 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023, (iii) 225,000 shares of common stock held by 010118 Management, L.P. (\u201c010118\u201d) and (iv) 2,543,272 shares held by 01 Advisors 01 LP (\u201c01 Advisors\u201d). Mr. Bain is a managing member of 010118 and a managing partner of 01 Advisors and may be deemed a beneficial owner of the shares of common stock held by 010118 and 01 Advisors. (9) Includes (i) 132,043 shares of common stock held by Cipora Herman and (ii) 36,775 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (10) Includes (i) 25,543 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023 and (ii) 24,554 shares of common stock held by Len X, LLC. Len X, LLC, a wholly owned subsidiary of Lennar Corporation of which Mr. Jaffe is the Co-Chief Executive Officer and Co-President and member of the board of directors. Mr. Jaffe is a minority stockholder of Lennar Corporation, owning less than one percent of Lennar Corporation's outstanding shares. Mr. Jaffe disclaims beneficial ownership of the shares of common stock held by Len X, LLC except to the extent of his pecuniary interest therein. (11) Includes (i) 406,244 shares of common stock held by Pueo Keffer and (ii) 35,170 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (12) Includes (i) 146,973 shares of common stock held by Jason Kilar, (ii) 25,543 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023 and (iii) 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2023. (13) Includes (i) 26,209 shares of common stock held by John Rice and (ii) 42,827 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (14) Includes (i) 1,488 shares of common stock held by Glenn Solomon, (ii) 35,973 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023, (iii) 262,784 of common stock held by The Solomon Family Trust, (iv) 5,867,568 shares of common stock held of record by GGV Capital V L.P. (\"GGCV\"), (v) 6,597,680 shares of common stock held of record by GGV Capital Select L.P. (\"GGCS\"), (vi) 215,339 shares of common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (\"GGCVEF\"), (vii) 20,884 shares of common stock held of record by GGV Capital LLC (\"GGVC LLC\") and (viii) 207,612 shares of common stock held of record by GGV Capital V L.L.C (\"GGCV LLC\"). GGCV LLC is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (\"GGCS LLC\") is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC, GGCS LLC, and GGVC LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares. (15) Includes (i) 30,265,900 shares of common stock held by Eric Wu and (ii) 137,953 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b630", + "block_sequence": 630, + "block_sha256": "9b831a9f92c3c9515889f39920d7b88ef10127918e68ea3bc1c89c3f03d5d528", + "block_type": "heading", + "char_count": 38, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 630, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "c73bd7c41dc69c1819fc236fdb07052f8a5c98482c7c8d3ca03884d921633cbe", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDelinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", + "table": null, + "text": "AnchorDelinquent Section 16(a) Reports" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b631", + "block_sequence": 631, + "block_sha256": "a0f965998d8249c45b7b1cf39a5a37d79a3c65a00fd36bb3dcc7d3e8e1c76547", + "block_type": "paragraph", + "char_count": 787, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 631, + "char_end": 787, + "char_start": 0, + "fragment_sha256": "d95397aee7bd37b9f97d508fcba80915df9f4bee55bafc3a45ed626c24e0337c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDelinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", + "table": null, + "text": "Section 16(a) of the Exchange act requires the Company\u2019s directors and executive officers to file initial reports of ownership and reports of changes in ownership with the SEC. As a matter of practice, our administrative staff assists our directors and executive officers in preparing these reports and typically files these reports on their behalf. 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perception thereof). Our Board has adopted a written \u201cRelated Person Transaction Policy\u201d, setting forth the policies and procedures for the review and approval or ratification of related person transactions. For purposes of the Company\u2019s policy only, a \u201crelated person transaction\u201d is a transaction, arrangement or relationship (or any series of similar transactions, arrangements or relationships) in which the Company and any \u201crelated person\u201d are participants involving an amount that exceeds $120,000. Transactions involving compensation for services provided to the Company as an employee, director, consultant or similar capacity by a related person are not covered by this policy. A related person is any executive officer, director, or more than 5% stockholder of the Company, including any of their immediate family members, and any entity owned or controlled by such persons. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company\u2019s Chief Legal Officer by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Chief Legal Officer is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Our Audit Committee must review the relevant facts and circumstances of each related person transaction, including if the transaction is on terms comparable to those that could be obtained in arm\u2019s length dealings with an unrelated third party and the extent of the related person\u2019s interest in the transaction, take into account the conflicts of interest and corporate opportunity provisions of our Code of Conduct, and either approve or disapprove the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in the approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions. Other than as listed below, there are no related party transactions entered into since January 1, 2022 requiring disclosure (and other than equity and other compensation, termination, change in control and other arrangements, which are described under the section of this proxy titled \u201cExecutive Compensation\u201d). AnchorDirector and Officer Indemnification and Insurance We have entered into indemnification agreements with each of our directors and officers. These agreements, among other things, require us or will require us to indemnify each director (and in certain cases their related venture capital funds) and officer to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys\u2019 fees, judgments, fines and settlement amounts incurred by the director or officer in any action or proceeding, including any action or proceeding by or in right of us, arising out of the person\u2019s services as a director or officer. 60 \u200b \u200b Opendoor Technologies Inc. // 2023 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b638", + "block_sequence": 638, + "block_sha256": "01030c41bb1120bcf28d18c76fdfeceda5b0bee74f34dd5cadd0b3088b689c0d", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 638, + "char_end": 11, + 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Reports" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b641", + "block_sequence": 641, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 641, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDelinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b642", + "block_sequence": 642, + "block_sha256": "75c12cba610041a6a3af29577c072b4a4cd4a4f7f72fe373faaac0eb6d936834", + "block_type": "paragraph", + "char_count": 2033, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 642, + "char_end": 2033, + "char_start": 0, + "fragment_sha256": "c228f2fbe34a02f19925f766b1b5b0736a83d51fbc7d8709839390271f43ccb3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDelinquent Section 16(a) Reports" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", + "table": null, + "text": "AnchorPROPOSAL 2 \u2014 RATIFICATION OF APPOINTMENT BY THE AUDIT COMMITTEE OF DELOITTE & TOUCHE LLP The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, we value the opinions of our stockholders and believe that stockholder ratification of our appointment is a good corporate governance practice. If our stockholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain Deloitte & Touche LLP. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of different independent auditors for the Company at any time during the year, if they determine that such a change would be in the best interests of the Company and its stockholders. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2022. Neither Deloitte & Touche LLP nor any of its members has any direct or indirect financial interest in or any connection with us in any capacity other than as our auditors, providing audit and non-audit services. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. In the event that the appointment of Deloitte & Touche LLP is not ratified by the stockholders at the Annual Meeting, our Audit Committee will consider this fact when it appoints the independent auditors for the fiscal year ending December 31, 2024. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b643", + "block_sequence": 643, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 643, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "c411c732373c565f8c7ad6793f9dedc152d6495bb2e95b089cf3d83dba2aa438", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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(2) Audit-related fees consist of fees for professional services rendered in connection with (1) financial statements incorporated in SEC filings during 2021 and 2022, respectively, and (2) agreed upon procedures related to certain compliance audits. (3) Tax fees consist of fees billed for services rendered for tax compliance, tax advice and tax planning. (4) All other fees consist of fees for all other services not included in the categories set forth above. 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The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i) explicitly approved by the Audit Committee on a case-by-case basis (\u201cspecific pre-approval\u201d) or (ii) pre-approved on a collective basis pursuant to the Pre-Approval Policy entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (\u201ccollective pre-approval\u201d). Unless a type of service to be provided by Deloitte & Touche LLP has received collective pre-approval, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC\u2019s rules on auditor independence." + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b656", + "block_sequence": 656, + "block_sha256": "c5fd16b2923363952c34322639390a867c00081af4544bb0d4eaba2acfe5ad25", + "block_type": "heading", + "char_count": 35, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 656, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "16a12f9d0b0e19ce09bd36a4557d812605e4c8d1f9043cc0fa6b547db24cc9fd", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s130", + "table": null, + "text": "AnchorReport of the Audit Committee" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b657", + "block_sequence": 657, + "block_sha256": "5f537c355dcbffa7b5ee454966c576fe37ebdce324687fce6441913de2d21744", + "block_type": "paragraph", + "char_count": 1867, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 657, + "char_end": 1867, + "char_start": 0, + "fragment_sha256": "c4f834986ab6a39c09722767924e2c31198a7c12615b01121548d1e91dfaf141", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s130", + "table": null, + "text": "The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the \u201cCompany\u201d) for the fiscal year ended December 31, 2022 and has discussed these financial statements with management and the Company\u2019s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company\u2019s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (\u201cPCAOB\u201d) and the Securities and Exchange Commission. The Company\u2019s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm\u2019s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Cipora Herman (Chair) Adam Bain Pueo Keffer" + }, + { + "block_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b658", + "block_sequence": 658, + "block_sha256": "70d209db12158919df60fad7ec7223eafb30d3a3f610eb618b2adf523b529278", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 658, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "9156684009b3ec7e31962b3a6ef95afe3364d02dd53263b78434876797f4d77e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s130", + "table": null, + "text": "62 \u200b \u200b Opendoor Technologies Inc. // 2023 Proxy Statement" + }, + { + "block_id": 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"OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s130", + "table": null, + "text": "AnchorPROPOSAL 3 \u2014 APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS AnchorBackground As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a \u201cSay-on-Pay Vote\u201d, gives our stockholders the opportunity to express their views on our named executive officers\u2019 compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the \u201cExecutive Compensation\u201d section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. The next Say-on-Pay Vote will occur at our 2024 annual meeting of stockholders (\u201c2024 Annual Meeting\u201d). 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"829c98b99e5cdf940de1a8f3024b9b59c70f796b5ce8f68db641cf83a01fba52", + "block_type": "paragraph", + "char_count": 4849, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", + "block_sequence": 671, + "char_end": 4849, + "char_start": 0, + "fragment_sha256": "6f84e455de5f345cde72855f8e004a540409000ce8bf80208ce2d87371b1b7fa", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s131", + "table": null, + "text": "AnchorADDITIONAL INFORMATION AnchorStockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2024 Annual Meeting pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 29, 2023. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Sydney Schaub. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2024 Annual Meeting, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than March 16, 2024 and not before February 15, 2024, provided, however, that if the date of the 2024 Annual Meeting is more than 30 days before, or more than 60 days after, the one-year anniversary of this year's Annual Meeting, notice by the stockholder to be timely must be so delivered or received, not more than the 120th day prior to such 2024 Annual Meeting date and not later than (i) the 90th day prior to such 2024 Annual Meeting date or, (ii) if later, the 10th day following the day on which public disclosure of the date of the 2024 Annual Meeting was first made by us. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2024 Annual Meeting. In addition to satisfying the foregoing requirements under our Bylaws, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than the Company\u2019s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act no later than April 15, 2024 except that, if the date of the 2024 Annual Meeting has changed by more than 30 calendar days from this Annual Meeting date, then notice must be provided by the later of 60 calendar days prior to the date of the 2024 Annual Meeting or the 10th calendar day following the day on which public announcement of the date of the 2024 Annual Meeting is first made by us. The next Say-on-Pay Vote will occur at the 2024 Annual Meeting. AnchorHouseholding of Annual Meeting Materials Under the rules adopted by the SEC, we may deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as \u201chouseholding\u201d and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of this proxy statement or our 2022 Annual Report, contact Broadridge Financial Solutions, Inc. by calling 1-866-540-7095 or in writing at 51 Mercedes Way, Edgewood, New York 11717, Attention: Householding Department. In addition, if you currently are a stockholder who shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household, you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address. AnchorOther Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. 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The annual meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the annual meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2023. For further information on how to participate in the meeting, please see “General Information About the Annual Meeting & This Proxy Statement” in the accompanying proxy statement. We are pleased to make our annual report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission’s Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the annual meeting regardless of whether you plan to attend virtually. The accompanying proxy statement contains information about the matters on which you are being asked to vote, as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors. Thank you for your investment in Opendoor. We appreciate your support. 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| ​ | NOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS | ​ | ​ | iv |\n| III. | ​ | ​ | PROXY STATEMENT SUMMARY | ​ | ​ | 1 |\n| ​ | ​ | ​ | Proposals and Board Recommendations | ​ | ​ | 1 |\n| ​ | ​ | ​ | Our Board of Directors | ​ | ​ | 1 |\n| ​ | ​ | ​ | Corporate Governance Highlights | ​ | ​ | 3 |\n| ​ | ​ | ​ | Executive Compensation Highlights | ​ | ​ | 4 |\n| ​ | ​ | ​ | Stockholder Engagement | ​ | ​ | 4 |\n| IV. | ​ | ​ | GENERAL INFORMATION ABOUT THE ANNUAL MEETING & THIS PROXY STATEMENT | ​ | ​ | 5 |\n| ​ | ​ | ​ | Proposals | ​ | ​ | 6 |\n| ​ | ​ | ​ | Recommendations of the Board | ​ | ​ | 6 |\n| ​ | ​ | ​ | Frequently Asked Questions About the Annual Meeting of Stockholders | ​ | ​ | 6 |\n| V. | ​ | ​ | PROPOSAL 1 – ELECTION OF DIRECTORS | ​ | ​ | 12 |\n| ​ | ​ | ​ | Our Board of Directors | ​ | ​ | 12 |\n| ​ | ​ | ​ | Board Composition | ​ | ​ | 17 |\n| ​ | ​ | ​ | Consideration of Board Diversity | ​ | ​ | 17 |\n| VI. | ​ | ​ | CORPORATE GOVERNANCE | ​ | ​ | 18 |\n| ​ | ​ 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Payments Upon Termination or Change in Control | ​ | ​ | 47 |\n| ​ | ​ | ​ | Compensation Committee Interlocks and Insider Participation | ​ | ​ | 48 |\n| ​ | ​ | ​ | Non-Employee Director Compensation | ​ | ​ | 48 |\n| ​ | ​ | ​ | 2022 Director Compensation Table | ​ | ​ | 49 |\n| ​ | ​ | ​ | CEO Pay Ratio | ​ | ​ | 50 |\n| ​ | ​ | ​ | Pay Versus Performance | ​ | ​ | 51 |\n| X. | ​ | ​ | EXECUTIVE COMPENSATION PLAN INFORMATION | ​ | ​ | 55 |\n| ​ | ​ | ​ | Inducement Award Program | ​ | ​ | ​55 |\n| XI. | ​ | ​ | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | ​ | ​ | 58 |\n| ​ | ​ | ​ | Delinquent Section 16(a) Reports | ​ | ​ | 59 |\n| XII. | ​ | ​ | CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS | ​ | ​ | 60 |\n| ​ | ​ | ​ | Policies and Procedures for Approval of Related Person Transactions | ​ | ​ | 60 |\n| XIII. | ​ | ​ | PROPOSAL 2 – RATIFICATION OF APPOINTMENT BY THE AUDIT COMMITTEE OF DELOITTE & TOUCHE LLP | ​ | ​ | ​61 |\n| ​ | ​ | ​ | Principal 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Your vote is important regardless of the number of shares of common stock you own. To ensure that a quorum is present at the annual meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the annual meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the annual meeting, you will be able to vote electronically, even if you have previously submitted your proxy.\n\nTo Our Stockholders: NOTICE IS HEREBY GIVEN that the 2023 Annual Meeting of Stockholders (the “Annual Meeting”) of Opendoor Technologies Inc. (the “Company” or “Opendoor”) will be held on Wednesday, June 14, 2023, at 9:30 a.m. Pacific Time. The Annual Meeting will be a virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/OPEN2023 and enter your 16-digit control number included in this Notice of Internet Availability of Proxy Materials (this “Internet Notice”), your proxy card or the instructions that accompanied your proxy materials. You will not be able to attend the Annual Meeting physically. If you wish to attend the Annual Meeting, detailed instructions are provided under “How do I attend this year’s virtual Annual Meeting?” on page 9 of the accompanying proxy statement. We have also provided information regarding how stockholders can engage during the Annual Meeting, including how they can vote, ask questions, request technical support and access information following the Annual Meeting within the accompanying proxy statement. At the Annual Meeting, stockholders will consider and vote on the following matters:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b57", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b58", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b60", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b62"], "char_count": 2338, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "89c21051d9f0f48e370c4e865909e6537353804d0f41637e7538b6e2833f85d7", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2023"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 57, "char_end": 983, "char_start": 0, "fragment_sha256": "9f3c45a86f10e3f2f6d165b6a935505d7451f78e3eee4937347abc5351471198", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2023"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 58, "char_end": 10, "char_start": 0, "fragment_sha256": "ff1dc79258e5d014c6ea370b829058de9f4bbbdaabfdb5dd8aa410a824d5f2e2", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2023"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 60, "char_end": 6, "char_start": 0, "fragment_sha256": "0266413fcf0e3a6625258a024fcb7c16b407aff97c39d8d763c9ca7022528ea3", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2023"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 62, "char_end": 1333, "char_start": 0, "fragment_sha256": "24200a74a519e02d43fcc774cd61ff8cae42c2aa24d98f5177a2b9b213c3951a", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2023"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p15", "passage_kind": "narrative", "passage_sequence": 15, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s24", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. Information relevant to these matters is set forth in the accompanying proxy statement. Stockholders of record of our common stock as of close of business on Monday, April 17, 2023 (the “Record Date”), are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will also be available to stockholders during the Annual Meeting at www.virtualshareholdermeeting.com/OPEN2023.\n\nEnd Page 5\n\nAnchor\n\nOn or about April 27, 2023, we expect to mail to our stockholders the Internet Notice containing instructions on how to access this proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2022 (our “2022 Annual Report”). The Internet Notice provides instructions on how to vote via the Internet or by telephone and how to receive a paper copy of our proxy materials. It is important that your shares be represented regardless of the number of shares of common stock you may hold. Whether or not you plan to attend the virtual Annual Meeting, we urge you to vote your shares via the toll-free telephone number or over the Internet, as described in the enclosed materials. If you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed return envelope. Promptly voting your shares will ensure the presence of a quorum at the Annual Meeting and will save us the expense of further solicitation. Submitting your proxy now will not prevent you from voting your shares at the Annual Meeting if you desire to do so, as your proxy is revocable at your option. 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null, "text": "Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to Be Held on Wednesday, June 14, 2023, at www.virtualshareholdermeeting.com/OPEN2023: This proxy statement and our 2022 Annual Report are available for viewing and downloading at www.proxyvote.com.\n\nBy Order of the Board of Directors,\n\nSydney Schaub Chief Legal Officer & Secretary April 27, 2023\n\nEnd Page 6\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b71"], "char_count": 282, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0d7ca64711d849bcd3fce2afa05df8cf448f16c8e76e2496a0cbc1d11cc5216a", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", 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(the “Company”, “Opendoor”, “we” or “us”) for use at the Company’s 2023 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on Wednesday, June 14, 2023, at 9:30 a.m. Pacific Time, and at any postponement, continuation or adjournment thereof. The Annual Meeting will be held in a virtual meeting format only. Due to the COVID-19 pandemic, we held the 2020, 2021 and 2022 annual meetings in a virtual meeting format only, via a live webcast, with no physical in-person meeting for the safety of all our stakeholders, including stockholders, and in accordance with federal, state and local guidance. Based on stockholders’ and our experiences at those meetings, we believe our virtual meeting format offers stockholders the same opportunities to participate as an in-person meeting and allows us to provide consistent opportunities for engagement to all stockholders, regardless of their geographic location. 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"sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "On or about April 27, 2023, we expect to mail to our stockholders the Internet Notice containing instructions on how to access this proxy statement and our 2022 Annual Report.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 5\n\nEnd Page 11\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b134", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b136"], "char_count": 626, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8e0434b5262edf2d0bfaa7017c76d08046af5664538de23fb0da85aa05366fc3", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": 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"AnchorProposals"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p34", "passage_kind": "narrative", "passage_sequence": 34, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s46", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "At the Annual Meeting, stockholders will consider and vote on the following matters:\n\nThe stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. We know of no other business that will be presented at the Annual Meeting. If any other matter properly comes before the stockholders for a vote at the Annual Meeting, however, the proxy holders named on the Company’s proxy card will vote your shares in accordance with their best judgment. Information relevant to these matters is set forth in this proxy statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b138", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b140"], "char_count": 443, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c20126e7babc546e8735dc652b9f239343bb39dcd3f3f91b742b3571a88af8e2", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorRecommendations of the Board"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 138, "char_end": 368, "char_start": 0, "fragment_sha256": "a48c61f20bbc60d3a49e424f5ae090e15ec473d254e95e423bafd05f04b23cf1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorRecommendations of the Board"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 140, "char_end": 73, "char_start": 0, "fragment_sha256": "534878e01db496ea328fbe1fca41ace3216781cc2aef190ab3489dc665134bf0", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorRecommendations of the Board"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p35", "passage_kind": "narrative", "passage_sequence": 35, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s47", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted, and the Board recommends that you vote:\n\nAnchorFrequently Asked Questions About the Annual Meeting of Stockholders"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b142", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b143", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b144", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b146"], "char_count": 1135, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d0c73e6f63f36da4f9d33c3b238665b02252a3000f92d2da39ef3c1ac23661fa", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 142, "char_end": 1056, "char_start": 0, "fragment_sha256": "51dea85dca5658d088c74df874b163a3b5c1edf69caf527c3dbdc3bc29dbe3b4", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 143, "char_end": 56, "char_start": 0, "fragment_sha256": "5227656c1d173f14a6769965e0b719b38ff222cbe76de6725b2b9c8a234822a4", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 144, "char_end": 11, "char_start": 0, "fragment_sha256": "377b179cc6045b9a102494571725401a39f4dada550b0395d059561f0956f20c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 146, "char_end": 6, "char_start": 0, "fragment_sha256": "77b06b492a3355b4351b5862da9ca43888336039aead81c777c677513433f703", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "As permitted by the Securities and Exchange Commission (the “SEC”) rules, Opendoor is making this proxy statement and its 2022 Annual Report available to its stockholders electronically via the Internet. On or about April 27, 2023, we expect to mail to our stockholders of record entitled to vote at the Annual Meeting the Internet Notice containing instructions on how to access this proxy statement and our 2022 Annual Report and vote online. If you received an Internet Notice by mail, you will not receive a printed copy of the proxy materials in the mail unless you specifically request them. Instead, the Internet Notice instructs you on how to access and review all of the important information contained in the proxy statement and 2022 Annual Report. The Internet Notice also instructs you on how you may submit your proxy over the Internet. If you received an Internet Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials contained on the Internet Notice.\n\n6 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 12\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b148"], "char_count": 3906, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4f142f6ead4ebe00380c13e73affd53efd988f91e11dd99b31ba8924161c21a0", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 148, "char_end": 3906, "char_start": 0, "fragment_sha256": "5b71f4269bae740edc0fb51bcc502802e3684f3519107f3c20432dffd32bbd48", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Will I receive printed Copies of the proxy materials? If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials. Who is entitled to vote at the Annual Meeting? Holders of record of our common stock as of the Record Date will be entitled to notice of, and such stockholders and holders of a valid proxy will be entitled to vote at, the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. As of the Record Date, 647,414,581 shares of our common stock (“Common Stock”) were issued and outstanding and entitled to vote at the Annual Meeting. Each share of Common Stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. The complete list of these stockholders will also be available to stockholders during the Annual Meeting at www.virtualshareholdermeeting.com/OPEN2023. Stockholder of Record: Shares Registered in Your Name Each holder of record of Common Stock on the Record Date will be entitled to one vote for each share held on all matters to be voted upon at the virtual Annual Meeting. As a stockholder of record, you may vote at the virtual Annual Meeting, or prior to the Annual Meeting, vote through the Internet or by telephone, or by mail using a proxy card that you received or that you may request. See “How do I vote my shares if I am a stockholder of record?” below. Whether or not you plan to attend the virtual Annual Meeting, we urge you vote by proxy through the Internet or by telephone as instructed below, or by completing a proxy card that you may request or that we may elect to deliver at a later time. Stockholders who attend the virtual Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2023 to vote during the virtual Annual Meeting. The stock transfer books will not be closed between the Record Date and the Annual Meeting date. A complete list of stockholders entitled to vote at the virtual Annual Meeting will be available for examination at our principal executive offices at the address listed above for a period of ten days prior to the virtual Annual Meeting and will be available on the virtual meeting site at www.virtualshareholdermeeting.com/OPEN2023. Beneficial Owner: Shares Registered in the Name of a Broker or Bank If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner of shares held in “street name” and the Notice is being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting during the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend the virtual Annual Meeting. However, since you are not the stockholder of record, you may only vote your shares during the virtual Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2023 to vote during the Annual Meeting. What is the difference between being a “record holder” and holding shares in “street name”? A record holder holds shares in their name."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b148"], "char_count": 166, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "61ee90d7c4e6c3aebf6811a35df2d22ead1931e0c36123b17ce1cfeb8223c070", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 148, "char_end": 4072, "char_start": 3906, "fragment_sha256": "5b71f4269bae740edc0fb51bcc502802e3684f3519107f3c20432dffd32bbd48", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Shares held in “street name” means shares that are held in the name of a bank or broker on a person’s behalf. Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 7"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b149", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b151"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "50b4c7f551f65192db8ff67f3f4313719f2918e9bf2af27c03697d136eb8b8fc", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the internet?"], "items": [], 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"1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How do I vote my shares if I am a stockholder of record?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 154, "char_end": 218, "char_start": 0, "fragment_sha256": "e522591420d9d55b684779f99f3d71c07251ea9a4f01cd21adff6ddc66564a55", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How do I vote my shares if I am a stockholder of record?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 156, "char_end": 233, "char_start": 0, "fragment_sha256": "090d51d7d02ae3e1655172e303a8f91d52a47c8913c5b653daac5fa3b64c2893", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How do I vote my shares if I am a stockholder of record?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p40", "passage_kind": "narrative", "passage_sequence": 40, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s49", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If you are the record holder of your shares, you may vote in one of four ways. You may vote by submitting your proxy over the Internet, by telephone or by mail, or you may vote electronically during the Annual Meeting.\n\nInternet and telephone voting facilities for stockholders of record will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on June 13, 2023. We encourage stockholders to submit their proxy via telephone or online."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b158"], "char_count": 2209, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1965c943bfa083014ae7d5683e6edf06ffd4c39c68fd9518f10361699892cb28", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Am I entitled to vote if my shares are held in “street name”?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 158, "char_end": 2209, "char_start": 0, "fragment_sha256": "c37124908d1e2758feff8b8545abe56db1a23607e0df4510690a116909b1b462", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Am I entitled to vote if my shares are held in “street name”?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s50", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in “street name”), you should contact your bank or broker to obtain your control number or otherwise vote through the bank or broker. The organization holding your account is considered to be the stockholder of record for purposes of voting at the virtual Annual Meeting. As a beneficial owner, you should have received an Internet Notice or voting instructions from the broker or other nominee holding your shares. You should follow the instructions in the Internet Notice or voting instructions provided by your broker or nominee in order to instruct your broker or other nominee on how to vote your shares. The availability of telephone and Internet voting will depend on the voting process of the broker or nominee. Please contact your bank, broker or other agent if you have questions about their instructions on how to vote your shares. Please also note that since you are not the stockholder of record, you may only vote your shares during the virtual Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the virtual Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2023 to vote during the virtual Annual Meeting. You will need the 16-Digit Control Number included on your Internet Notice, your proxy card (if you received a printed copy of the proxy materials) or the instructions that accompanied your proxy materials to join the virtual Annual Meeting. If you do not provide your broker or bank with instructions on how to vote your shares, your broker or bank will be able to vote your shares with respect to the ratification of the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023 (Proposal 2) but not for Proposal 1 (Election of Directors) or Proposal 3 (Say-on-Pay vote). For more information, see “What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?” and “What are broker non-votes?” below."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b160"], "char_count": 290, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0b8ce3ac3678b8b3d07f71f52e069a95ad147bf14df670bfc1a1b07b88ff324a", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will any other business be conducted at the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 160, "char_end": 290, "char_start": 0, "fragment_sha256": "1b28669f5e2112271c8af0ccea7e577dfb5f160af47c5c6af863e5ee888dd314", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will any other business be conducted at the Annual Meeting?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p42", "passage_kind": "narrative", "passage_sequence": 42, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s51", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We know of no other business that will be presented at the Annual Meeting. If any other matter properly comes before the stockholders for a vote at the Annual Meeting, however, the proxy holders named on the Company’s proxy card will vote your shares in accordance with their best judgment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b162", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b163", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b164", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b166"], "char_count": 369, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e83c55ea18f9bcaa398e904ad6941179a17602bb547ce1a82450b0271a3ce66c", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 162, "char_end": 290, "char_start": 0, "fragment_sha256": "983590aa1462027012a4db02e97f434b23f2bbe14c0221d3ca972dbcdd789d31", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 163, "char_end": 56, "char_start": 0, "fragment_sha256": "83ffeb698757f02e0e643bdff88a2dcf38e6878650634cb583db572e80b773c4", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 164, "char_end": 11, "char_start": 0, "fragment_sha256": "3cbc7eaa19d2148b7597c6532510735c5c4c4dcdc9707e707f1ae3bd5b036bf1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 166, "char_end": 6, "char_start": 0, "fragment_sha256": "bee9b93fe91200dd34ff78f7f8e50187bcf8d9fcb76037627bc511669db0c8fd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s52", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "A quorum must be present at the Annual Meeting for any business to be conducted. The presence at the Annual Meeting, online or by proxy, of the holders of a majority in voting power of the common stock issued and outstanding and entitled to vote on the Record Date will constitute a quorum.\n\n8 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 14\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b169"], "char_count": 1079, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4bd578fa36b1c00e885184b2b13b88cab1ac8ffa0da8728fdd2191fcb8468c17", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorHow do I attend this year’s virtual Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 169, "char_end": 1079, "char_start": 0, "fragment_sha256": "487c0efcdc548849620c477cac8bb6f9ab6eb6ebe8a1ca028e6b8a6fcb0320e8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorHow do I attend this year’s virtual Annual Meeting?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p44", "passage_kind": "narrative", "passage_sequence": 44, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s53", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "To participate in our virtual Annual Meeting, including to vote, ask questions and view the list of registered stockholders as of the Record Date during the Annual Meeting, visit www.virtualshareholdermeeting.com/OPEN2023 with your 16-digit control number included in the Internet Notice, proxy card or the instructions that accompanied your proxy materials. If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You may be required to provide a legal proxy from your bank or broker. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting, but will not be able to vote your shares. Instructions on how to connect and participate via the Internet are posted at www.virtualshareholdermeeting.com/OPEN2023. Even if you plan to attend the live audio webcast of the Annual Meeting, we encourage you to vote in advance by Internet, telephone or mail so that your vote will be counted even if you later decide not to attend the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b171"], "char_count": 545, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ab45df2ee845c7c1a839855fe017a7b7548b6d15f95ec8d889e972ed0ba114a5", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What if I encounter technical difficulties trying to join or during the virtual Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 171, "char_end": 545, "char_start": 0, "fragment_sha256": "822847c511c82ebdcce4b7dfad96237160853ee6f5096710479726a4822d731f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What if I encounter technical difficulties trying to join or during the virtual Annual Meeting?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p45", "passage_kind": "narrative", "passage_sequence": 45, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s54", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We will have technicians ready to assist you with any technical difficulties you may have when accessing the Annual Meeting live audio webcast. Please be sure to check in by 9:15 a.m. Pacific Time on June 14, 2023, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please call the phone number listed at www.virtualshareholdermeeting.com/OPEN2023."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b173"], "char_count": 1726, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9551dd36de442afaad03ad17e65c23ae244307df7c742aad51da3619b541f582", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will there be a question and answer session during the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 173, "char_end": 1726, "char_start": 0, "fragment_sha256": "b83e2e31c023e03401094a68980f031cdfaf9f00ca2c3ab3f35408ed5e651b07", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will there be a question and answer session during the Annual Meeting?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s55", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer questions submitted online during the meeting that are pertinent to the Company and the meeting matters, as time permits. Our virtual Annual Meeting allows stockholders to submit questions and comments before and during the virtual Annual Meeting. Only stockholders that have accessed the Annual Meeting as a stockholder by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things: • irrelevant to the business of the Company or to the business of the Annual Meeting; • related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; • related to any pending, threatened or ongoing litigation; • related to personal grievances; • derogatory references to individuals; • substantially repetitious of questions already made by another stockholder; • in excess of the two-question limit; • in furtherance of the stockholder’s personal or business interests; or • out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the chair of the Annual Meeting or Secretary in their reasonable judgment. Additional information regarding the Q&A session will be available in the “Rules of Conduct” posted at www.virtualshareholdermeeting.com/OPEN2023 for stockholders that have accessed the Annual Meeting as a stockholder (rather than a “Guest”) by following the procedures outlined above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b175", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b176", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b177", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b179", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b181"], "char_count": 1192, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8e4274bc475ba90dde019e4a2f249d58fc2ec9ba2815c7e6cc61427769fda733", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 175, "char_end": 365, "char_start": 0, "fragment_sha256": "1c47a034f5e0ae8a764149d8df90ae3f000d37e3f670ef4da2282c541b7790ac", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 176, "char_end": 56, "char_start": 0, "fragment_sha256": "d345a6f1d68d22cbc5736893bf41f088059779dd8c8636c3e6e1d9da0f11dd8f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 177, "char_end": 11, "char_start": 0, "fragment_sha256": "68dc7be185a930f6cae35ca66c115e572957b0841c86403c52423e2c72e4439d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 179, "char_end": 6, "char_start": 0, "fragment_sha256": "f92d3ceeef57ebf3c90ae04b2ad9e9a5d6a52dd6c78f5e31a014af509e93ec51", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 181, "char_end": 746, "char_start": 0, "fragment_sha256": "566981a66a58f39d651c8c52d3b4cdbb2b1ef60e1642c5fb56122328c1356767", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p47", "passage_kind": "narrative", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s56", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. You should direct your broker how to vote the shares held in your account. Under applicable stock exchange rules, if you do not instruct your broker on how to vote your shares, your broker\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 9\n\nEnd Page 15\n\nAnchor\n\nwill be able to vote your shares with respect to certain “routine” matters but will not be allowed to vote your shares with respect to certain “non-routine” matters. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. Each other proposal to be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in “street name” for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b183"], "char_count": 548, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "23eb3a5fdf101cd371ebfe7bca2e0ff6bfa68f885afb89e7eeec00934b80e2e8", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 183, "char_end": 548, "char_start": 0, "fragment_sha256": "9f419c2c8ac3bfdc27d3c79a481173537a469ec72a8232e4b399762c43032a48", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If you are a stockholder of record and you do not specify your vote on each proposal individually when voting via the Internet, over the telephone or if you sign and return a proxy card without giving specific voting instructions, then your shares will be voted in line with the Board’s recommendations as described under “Recommendations of the Board” above. If any other matter is properly presented at the virtual Annual Meeting, your proxyholder (one of the individuals named on your proxy card) will vote your shares using their best judgment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b185", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b186"], "char_count": 1311, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5dc80ecde78addbcf06e700c4212b63dd10c0bfcde471b55994bdef76270720f", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 185, "char_end": 1007, "char_start": 0, "fragment_sha256": "dc0148f7b0db4bf7951fc680e5fb55177f4f22b26c88d2f03553f0f6d3ddb3ab", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 186, "char_end": 302, "char_start": 0, "fragment_sha256": "e2145a31ab3b45088202a93b20319e90c5d8966e260803c36b814ce19f5e23f2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p49", "passage_kind": "narrative", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s58", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If you are a beneficial owner of shares registered in the name of your broker, bank or other agent, and you do not instruct your broker, bank or other agent how to vote your shares, your broker, bank or other agent may still be able to vote your shares in its discretion. In this regard, under the rules of the NYSE, brokers, banks and other securities intermediaries that are subject to NYSE rules may use their discretion to vote your “uninstructed” shares with respect to matters considered to be “routine” under NYSE rules, but not with respect to “non-routine” matters. In this regard, Proposals 1 & 3 are considered to be “non-routine” under NYSE rules meaning that your broker may not vote your shares on those proposals in the absence of your voting instructions. However, Proposal 2 is considered to be a “routine” matter under NYSE rules, meaning that if you do not return voting instructions to your broker by its deadline, your shares may be voted by your broker in its discretion on Proposal 2.\n\nIf you are a beneficial owner of shares held in street name, in order to ensure your shares are voted in the way you would prefer, you must provide voting instructions to your broker, bank or other agent by the deadline provided in the proxy materials you receive from your broker, bank or other agent."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b188"], "char_count": 246, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4a1550a30848653d2b8223daf6f83f4117a596308202a72b18e12ab5ecf5e7fb", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 188, "char_end": 246, "char_start": 0, "fragment_sha256": "f4a6401087d9d471230968e493e697cfb36c57f9431e760e3ac41973c7e84306", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Voting over the Internet or by telephone or execution of a proxy will not in any way affect a stockholder’s right to attend the Annual Meeting and vote electronically. A proxy may be revoked before it is used to cast a vote at the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b190", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b191", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b192", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b194"], "char_count": 884, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "405ee595527107ebf8692542e707745ec4597f7931e4eb137fd703db163ba6d5", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 190, "char_end": 804, "char_start": 0, "fragment_sha256": "8a5762b1bd828d9c88ed3bdd940825eacfdde11d8d5699d51ff2dab66cf6a81e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 191, "char_end": 57, "char_start": 0, "fragment_sha256": "3da9b46335dc528cc7afd341c74058c45bc4b961cbe8cb9eca1e6db6091ae757", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 192, "char_end": 11, "char_start": 0, "fragment_sha256": "b963b291670a4af1983af47556819537db9924d014522deeafc775b98910b79f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 194, "char_end": 6, "char_start": 0, "fragment_sha256": "fe516f69e65d81b1aa303faaf8231416f108f24d3dd99512b7ec20b809a74660", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in your name, you can revoke a proxy by doing one of the following: • delivering to our Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; • duly executing a later-dated proxy relating to the same shares and delivering it to our Secretary before the taking of the vote; or • attending the Annual Meeting and voting electronically. However, your attendance at the Annual Meeting will not automatically revoke your proxy unless you vote again at the Annual Meeting. Any written notice of revocation or subsequent proxy should be sent to us at the following address: Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Sydney Schaub, Secretary.\n\n10 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 16\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b197"], "char_count": 153, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9544f9c086a362aa415217b995745d85a9efe444e3327c6abcc08728188b21d6", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record", "Beneficial Owner"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 197, "char_end": 153, "char_start": 0, "fragment_sha256": "8dbc529da239691f40c0c79b15ae4c896cb41bdc9c7bfdf5d38e21c81ffd564b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record", "Beneficial Owner"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s61", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in street name, you will need to follow the directions provided to you by your bank or brokerage firm to change your vote."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b199"], "char_count": 478, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "03477f8ca6521179b9a7d559f38e5095c27bc3dbea2b7949984b6d6e4688cfa6", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What is the quorum requirement and what if quorum is not met?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 199, "char_end": 478, "char_start": 0, "fragment_sha256": "1d5fd6ec219c14929c923d5c71d571e7c5bb86c8a0a6e0bc2eb70a785a599b52", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What is the quorum requirement and what if quorum is not met?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s62", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The presence electronically or representation by proxy of a majority in voting power of the shares of common stock of the Company entitled to vote at the Annual Meeting is necessary to establish a quorum. Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b201"], "char_count": 173, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e101f1229b7dd3cdc322c978e638c5453341be66694a2fe06ee64744c7758fdb", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 201, "char_end": 173, "char_start": 0, "fragment_sha256": "9fafe0c91657f2b9d3e7ef702146f78270d15fd5e54af6a706663ada5edcd820", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of votes withheld, abstentions and broker non-votes."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b202"], "char_count": 1141, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1b5add97b29186ecadc6f1971e1c4a5bcc0e2cdbdd47a7189ca6885da73c5908", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 202, "char_end": 1058, "char_start": 0, "fragment_sha256": "6a18dea1129f7e3acb5857198fc7f096734c1776b3743dae12fcfcde7f45226b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "table_index": 8, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p55", "passage_kind": "table", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b202", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Proposal | ​ | ​ | Votes Required | ​ | ​ | Effect of Votes Withheld/Abstentions and Broker Non-Votes |\n| Proposal 1: Election of Directors | ​ | ​ | The plurality of the votes cast. This means that the three nominees receiving the highest number of “FOR” votes will be elected as Class III Directors. | ​ | ​ | Votes withheld and broker non-votes will have no effect. |\n| Proposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | ​ | ​ | “FOR” votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | ​ | ​ | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1) |\n| Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (“Say-on-Pay Vote”) | ​ | ​ | “FOR” votes from the holders of a majority of shares present virtually or represented by proxy and entitled to vote on the matter. | ​ | ​ | Abstentions and broker non-votes will have no effect. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b203"], "char_count": 335, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5e15bd0cdc63339ab00e521a2b0f38002c98aeee286b65d103d4a7133ba37753", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 203, "char_end": 335, "char_start": 0, "fragment_sha256": "71bab9de11389c25155a4e2b9f4b2b1d4b6e1fd54844e168fc414f6909396467", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p56", "passage_kind": "narrative", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s63", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(1) Proposal 2 is considered to be a “routine” matter under NYSE rules. 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Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. 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"fragment_sha256": "cbf79bfd9845c727ee9ef7b864a25900097d1e4cebc12eee0813985c67e292c3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p65", "passage_kind": "narrative", "passage_sequence": 65, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s70", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Our Board unanimously recommends that you vote “FOR” the election of each of Jason Kilar, Carrie Wheeler and Eric Wu as Class III directors.\n\n12 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 18\n\nAnchor\n\nDirector Biographies"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b232"], "char_count": 2861, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "624514b32900176117d2bfd0783df11a3de03413bb9baaf71fbed0dbaae1a9ce", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 232, "char_end": 2861, "char_start": 0, "fragment_sha256": "80a4b6b860c54c0e31fe571d657c1e6792bfc1ae6388b701824dc16375dc50ca", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p66", "passage_kind": "narrative", "passage_sequence": 66, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "CARRIE WHEELER Chief Executive Officer Director Since: 2022 Age: 51 Committee Memberships: None Other Public Company Boards: • APi Group Corporation (Audit and Compensation Committees) ​ ​ Carrie Wheeler has served as our Chief Executive Officer and as a member of our Board since December 2022. She previously served as our Chief Financial Officer from September 2020 to December 2022. Ms. Wheeler also previously served as a member of our Board from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler currently serves on the board of directors and on the audit and compensation committees of APi Group Corporation, a global provider of safety and specialty services, since November 2019. She previously served on the board and audit committee of Dollar Tree, inc. from March 2019 to March 2022. Ms. Wheeler has also served on a number of other corporate boards of private and public companies, including Neiman Marcus Group (2005 to 2013) and Petco Animal Supplies (2016 to 2015). Ms. Wheeler received her Bachelor of Commerce degree from Queen’s University in Canada. Skills and Qualifications: We believe that Ms. Wheeler is qualified to serve as a member of our Board because of her extensive experience in a leadership role at a global private equity firm, as well as her experience with our company as our Chief Executive Officer and former Chief Financial Officer, and her wealth of experience across different industries. ​ ERIC WU Co-founder & President, Marketplace Director Since: 2020 Age: 40 Committee Memberships: None Other Public Company Boards: None ​ ​ Eric Wu co-founded Opendoor and has served as President, Marketplace since December 2022 and as a member of our board of directors since April 2014. He previously served as our Chief Executive Officer from January 2014 to December 2022 and as Chairman of our board of directors from December 2020 to December 2022. Prior to Opendoor, Mr. Wu founded and, from 2009 to 2011, served as the Chief Executive Officer of Movity.com, a geo-data analytics company, until its acquisition by Trulia.com in 2011, after which he served as Head of Geo/Social Products until 2013. Mr. Wu also previously co-founded RentAdvisor.com, an apartment search company specializing in lead generation, in 2008, which was later acquired by Apartment List, Inc. in 2010. Mr. Wu received his B.S. degree in Economics from the University of Arizona. Skills and Qualifications: We believe that Mr. Wu is qualified to serve as a member of our Board due to the perspective and experience he brings as our co-founder and President, Marketplace, and also as our former Chief Executive Officer and his extensive experience founding and managing real estate and technology companies. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b233", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b234", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b236", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b238"], "char_count": 1772, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8ba79954b7b08b706303015769395148b89d28e849d81764e0e29f41f07ee8dd", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 233, "char_end": 57, "char_start": 0, "fragment_sha256": "eb13bbd82eab0e0145364cb2eefb76bdad244a4d27f15a0bc4749fb14e51c110", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 234, "char_end": 11, "char_start": 0, "fragment_sha256": "4e9fda848889b8e79de1ef89e24d799c5f5464bc941c3ea9883cb9d6ed7e40cd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 236, "char_end": 6, "char_start": 0, "fragment_sha256": "f2acd55aa2fc21c5c36ad2166aa3a70b7343de664ae85e9f2687c04bbc5a3af9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 238, "char_end": 1692, "char_start": 0, "fragment_sha256": "ef251b4d1a85b34d5e5a15e476cf3825e76a1ac54313edf0b562b98f48f0c0e3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2026)"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p67", "passage_kind": "narrative", "passage_sequence": 67, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 13\n\nEnd Page 19\n\nAnchor\n\nJASON KILAR Director Since: 2020 Age: 51 Committee Memberships: • Nominating and Corporate Governance (CHAIR) Other Public Company Boards: None ​ ​ Jason Kilar has served as a member on our Board since March 2019. Previously, Mr. Kilar served as the Chief Executive Officer of Warner Media, LLC, a media and entertainment subsidiary of its public company parent, Warner Bros. Discovery, Inc. from May 2020 to April 2022. Prior to that, Mr. Kilar co-founded and served as the Chief Executive Officer of Vessel Group, Inc., a video platform company, from 2013 to 2017. Prior to Vessel, Mr. Kilar co-founded and served as the Chief Executive Officer of Hulu, LLC, a streaming service company, from 2007 to 2013. Mr. Kilar also served in a variety of senior leadership roles with Amazon.com, Inc., an e-commerce technology company, from 2002 to 2006, including as Senior Vice President, Worldwide Application Software, and Vice President and General Manager of Amazon’s North American media businesses. He has also served on various other private company boards of directors, including Univision Communications Inc. from September 2016 to April 2020 and Brighter Inc. from 2013 until its acquisition by Cigna Corporation in 2017. Mr. Kilar received his B.A. degree in Journalism and Business Administration from University of North Carolina at Chapel Hill and M.B.A. degree from Harvard Business School. Skills and Qualifications: We believe that Mr. Kilar is qualified to serve as a member of our Board because of his deep expertise in operations as a Chief Executive Officer and seasoned board member, and his extensive experience with technology, high-growth, consumer and digital companies. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b240"], "char_count": 1893, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bd588934375d068ca28f9a3b32208d150ae66fcf72a7332dd4487c1e87f68bfd", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 240, "char_end": 1893, "char_start": 0, "fragment_sha256": "84fabc5b2ae0f6223139ea58dc6a9f00ba653971e4b8b9e731b5c0f4df7d076d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p68", "passage_kind": "narrative", "passage_sequence": 68, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s72", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "CIPORA HERMAN Director Since: 2020 Age: 49 Committee Memberships: • Audit (CHAIR) Other Public Company Boards: • ZipRecruiter, Inc. (Audit (Chair) and Compensation Committees) ​ ​ Cipora Herman has served as a member of our Board since December 2020 and previously served as a member of the board of directors of SCH from May 2020 until the closing of our Business Combination with SCH in December 2020. Ms. Herman has served on the board of directors of ZipRecruiter, Inc., a publicly traded online employment marketplace company, since October 2018, where she also serves as the chair of the audit committee and a member of the compensation committee. Previously, Ms. Herman served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028, from January 2021 to April 2022. Ms. Herman also served on the board of directors of MINDBODY, Inc., a software-as-a-service company, from October 2016 to February 2019. From 2012 to 2016, Ms. Herman served as the Chief Financial Officer of the San Francisco 49ers, a professional American football team. Prior to that, Ms. Herman has served in various leadership roles in large online media and technology companies, including as Vice President & Treasurer of Facebook, Inc., from 2007 to 2012, and in various roles at Yahoo! Inc. from 2003 to 2007, including VP Finance and Treasurer. She also served on private company board of directors, including Memery, Inc. (dba Overlay) from 2015 to January 2021. Ms. Herman received her A.B. degree in International Relations, M.A. degree in International Development Policy and M.B.A degree, each from Stanford University. Skills and Qualifications: We believe that Ms. Herman is qualified to serve as a member of our board of directors because of her financial expertise and experience as a director of publicly and privately held companies. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b241", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b242", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b244", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b246"], "char_count": 2395, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "391c6ff0e395ff5ffbf101a006f7e514bbdbd6619c1e9edbcf5206c3de91d30e", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 241, "char_end": 57, "char_start": 0, "fragment_sha256": "393d7b792c458b01192fa41e47f43077ac1ee7ae7b9ea9965a8547ef4afe2497", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 242, "char_end": 11, "char_start": 0, "fragment_sha256": "0cc6554f9da4983eb9aa862452f31330066112487a40528333b4250d45b45cc5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 244, "char_end": 6, "char_start": 0, "fragment_sha256": "a99c7b3fae42ee33f380e25dc1d574620f8f52499862c57e30567be0c9c74505", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 246, "char_end": 2315, "char_start": 0, "fragment_sha256": "b958fd9e020f57f1188eb8c7dbee8e58a01e4463cffd126ea628862ee2fb93d9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I directors (terms ending in 2024)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p69", "passage_kind": "narrative", "passage_sequence": 69, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s72", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "14 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 20\n\nAnchor\n\nJONATHAN JAFFE Director Since: 2020 Age: 63 Committee Memberships: • Nominating and Corporate Governance Other Public Company Boards: None ​ ​ Jonathan Jaffe has served as a member of our Board since June 2018. Mr. Jaffe has served as Co-Chief Executive Officer and Co-President of Lennar Corporation, one of the nation’s largest homebuilders, since November 2020, and as a member of the board of directors since 2018 (and also served as a director from 1997 to 2004). Prior to that, he served in various senior management roles, including, President from April 2018 to November 2020, Chief Operating Officer from December 2004 to January 2019, Vice President from 1994 to April 2018, and a Regional President in Lennar’s Homebuilding operations prior to that. Mr. Jaffe served as a member of the board of directors of Five Point Holdings, LLC from 2009 to 2020 and currently serves on the board of one privately held company. Mr. Jaffe received his B.A. degree in Architecture from the University of Florida. Skills and Qualifications: We believe that Mr. Jaffe is qualified to serve as a member of our board of directors because of his extensive knowledge of the housing industry and his deep operating experience. ​ GLENN SOLOMON Director Since: 2020 Age: 54 Committee Memberships: • Compensation (CHAIR) Other Public Company Boards: • Hashicorp, Inc. (Compensation (Chair) and Audit Committees) ​ ​ Glenn Solomon has served as a member of our board of directors since February 2015. Mr. Solomon has been a Managing Partner of GGV Capital, a venture capital firm, since 2006, and as a director of Hashicorp, Inc., a publicly traded software company, since September 2014, where he also serves as chair of the compensation committee and as a member of the audit committee. He also serves as a director of a number of privately held companies and previously served as a director of Domo, Inc., a cloud software company from August 2017 to March 2019. Mr. Solomon received his B.A. degree in Public Policy from Stanford University and M.B.A. from Stanford University. 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "ADAM BAIN Director Since: 2020 Age: 49 Committee Memberships: • Audit • Compensation Other Public Company Boards: • Virgin Galactic Holdings Inc. (Nominating and Corporate Governance (Chair) and Compensation Committees) ​ ​ Adam Bain has served as a member of our board of directors since December 2020, prior to which he served as a member of SCH’s board of directors. Mr. Bain is a co-founder and co-Managing Partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since January 2018. Mr. Bain has served as a member of the board of directors of Virgin Galactic Holdings Inc., a publicly traded spaceflight company, where he serves as the chair of the nominating and corporate governance committee and as a member of the compensation committee since the consummation of its business combination with Social Capital Hedosophia Holdings Corp. (IPOA), which was a publicly traded special purpose acquisition company (“SPAC”), in October 2019. Prior to that, he served as a member of the board of directors of IPOA from September 2017 to October 2019. Since November 2016, Mr. Bain has also been an independent advisor and investor in select privately held growth-stage companies. Previously, from 2015 to November 2016, Mr. Bain served as the Chief Operating Officer of Twitter, Inc., a publicly traded social media company, and also served as President of Global Revenue & Partnerships from 2010 to 2015. Mr. Bain received his B.A. degree in English Journalism from Miami University in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve as a member of our board of directors because of his significant operating and technology experience and financial experience. ​ PUEO KEFFER Director Since: 2020 Age: 41 Committee Memberships: • Audit Other Public Company Boards: • DigitalOcean Holdings, Inc. ​ ​ Pueo Keffer has served as a member of our board of directors since October 2015. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, Inc. since 2015. From 2009 to 2015, Mr. Keffer served in various roles at Redpoint Ventures, most recently as a Partner. Since 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a publicly traded cloud computing platform company. He also serves on the board of directors of two privately held companies. Previously, Mr. Keffer was an associate at TA Associates, a growth private equity firm, and a financial analyst at Goldman Sachs & Co. Mr. Keffer received his B.A. degree in Economics from Stanford University. Skills and Qualifications: We believe that Mr. Keffer is qualified to serve as a member of our board of directors because of his extensive experience advising technology companies as a venture capital investor and director of various companies and his financial experience. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b254", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b255", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b257", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b259"], "char_count": 1948, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4e50d448b50b89223ae8e2364e4df31ff20d7960b8f395a5f60ecfd381f243be", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 254, "char_end": 57, "char_start": 0, "fragment_sha256": "ff7f8b1dd89802d2121c1f97f2162ba0ebd67b50b75495a00f68256ef0d040bd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 255, "char_end": 11, "char_start": 0, "fragment_sha256": "b72aa3f5334de32fccaf0e374ba2e81d0d2c7b5d2c70194f208e1c206553b255", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 257, "char_end": 6, "char_start": 0, "fragment_sha256": "81dd0a72f6c4686f209b11c2dcde78e9d069e8c38eaa89f1b287f9df569e2d7e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 259, "char_end": 1868, "char_start": 0, "fragment_sha256": "7add1b227c02974c920a5656940158fc2940623fbe0b52826cfeeb4dced8d78a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p72", "passage_kind": "narrative", "passage_sequence": 72, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s73", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "16 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 22\n\nAnchor\n\nJOHN RICE Lead Independent Director Director Since: 2021 Age: 56 Committee Memberships: • Nominating and Corporate Governance Other Public Company Boards: • Walker & Dunlop, Inc. (Nominating and Corporate Governance (Chair) and Compensation Committees) ​ ​ John Rice has served as a member of our board of directors since March 2021. Mr. Rice is the founder and Chief Executive Officer of Management Leadership for Tomorrow (“MLT”), a national non-profit organization founded in 2001 that fights racial and economic disparities by empowering a new generation of diverse leaders. Prior to MLT, Mr. Rice was an executive with the National Basketball Association (“NBA”) from 1996 to 2000, where he served in various roles, including as Managing Director of NBA Japan and as Director of Marketing for Latin America. Prior to that, Mr. Rice spent four years with the Walt Disney Company in new business development and marketing and two years with AT&T. Since 2010, Mr. Rice has served as a member of the board of directors of Walker & Dunlop, Inc. a publicly traded real estate finance company, where he also serves as chair of the nominating and corporate governance committee and as a member of the compensation committee. He also serves on the board of directors of Morgan Stanley Real Estate’s Prime Property Fund, a privately held diversified real estate fund. Mr. Rice is also a member of the Yale University board of trustees. Mr. Rice received his B.A. degree from Yale University and M.B.A. degree from Harvard Business School. Skills and Qualifications: We believe that Mr. Rice is qualified to serve as a member of our board of directors because of his executive leadership skills, strategic planning experience, public company experience and extensive expertise in driving talent development and fostering diversity and inclusion efforts across organizations."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b261"], "char_count": 1286, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7be3c845a2ae1216a0cd1a9761e6c19863739fcfd4d5cdb6af23e1d82cc5c81c", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Composition"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 261, "char_end": 1286, "char_start": 0, "fragment_sha256": "ff100b77f4cfae69b74b713cc86b893c80d5893b464b808829dfce42fafd6853", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Composition"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p73", "passage_kind": "narrative", "passage_sequence": 73, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s74", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Our Board currently consists of nine members: Adam Bain, Cipora Herman, Jonathan Jaffe, Pueo Keffer, Jason Kilar, John Rice, Glenn Solomon, Carrie Wheeler and Eric Wu. 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The Board and the Nominating Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. Of our directors, 44% self-identify as having diverse characteristics. 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"table_id": null, "text": "18 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 24\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b280"], "char_count": 1151, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "348534c5b08c5027749590b328bbff90c6543e2b2a17f4619991429fddac4622", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDirector Independence"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", 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Our Board consults with the Company’s inside and outside counsel to ensure that the Board’s determinations are consistent with relevant securities and other laws and regulations regarding the definition of “independent,” including those set forth in pertinent listing standards of Nasdaq, as in effect from time to time. Consistent with these considerations, after review of all relevant identified transactions or relationships between each director, or any of their family members, and the Company, its senior management and its independent auditors, the Board has affirmatively determined that each of Adam Bain, Cipora Herman, Jonathan Jaffe, Pueo Keffer, Jason Kilar, John Rice and Glenn Solomon each qualify as “independent” in accordance with the listing requirements of Nasdaq. 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The Board has a lead independent director, John Rice, who has authority, among other things, to call and preside over Board meetings, including meetings of the independent directors, to set meeting agendas and to determine materials to be distributed to the Board. Accordingly, the lead independent director has substantial ability to shape the work of the Board. The Company believes that, going forward, separation of the positions of board chair and Chief Executive Officer (or appointing a lead independent director in lieu of an independent board chair) reinforces the independence of the Board in its oversight of the business and affairs of the Company. In addition, the Company believes that having a lead independent director (or independent board chair) creates an environment that is more conducive to objective evaluation and oversight of management’s performance, increasing management accountability and improving the ability of the Board to monitor whether management’s actions are in the best interests of the Company and its stockholders. As a result, the Company believes that having a lead independent director (or independent board chair) can enhance the effectiveness of the Board as a whole. However, there is no fixed requirement in our Corporate Governance Guidelines that our board chair and Chief Executive Officer positions be separate, or that our board chair be an employee or elected from among non-employee directors. 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The Board has oversight responsibility for Opendoor’s risk management function, which is designed to identify, assess and monitor fundamental financial and business risks across the Company’s operations and consider ways to address and mitigate those risks. Consistent with this approach, one of the Board’s primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 19\n\nEnd Page 25\n\nAnchor\n\nIn addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. • The Audit Committee reviews and discusses guidelines and policies governing the process by which senior management assesses and manages the Company’s exposure to risk, as well as the Company’s major financial risk exposures and the steps management has taken to monitor and control such exposures; • The Compensation Committee, in approving and evaluating the Company’s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company’s compensation arrangements; and • The Nominating Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. Our Board does not believe that its role in the oversight of our risks affects the Board’s leadership structure."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b295"], "char_count": 652, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fb4dbb9b4d92c6932e40000ded6a2432b29efbc07442b3c94e882812b04750f1", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 295, "char_end": 652, "char_start": 0, "fragment_sha256": "4990d77b480886565ed4395b237b8d48ef72c9f4424a6f6010671640ca255888", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p84", "passage_kind": "narrative", "passage_sequence": 84, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s82", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Board members are expected to prepare for, attend and participate in all meetings of the Board and committees on which they serve. During 2022, the Board held nine regular meetings and 11 special meetings and all directors attended 96% or more of the aggregate number of Board meetings and meetings of the committees on which they then served. We do not maintain a formal policy regarding director attendance at our annual meetings; however, it is expected that directors will attend. Seven out of the eight Board members attended the 2022 Annual Meeting. The Board holds executive sessions of its independent directors no less than two times per year."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b297"], "char_count": 851, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e950f1046207d867016f09ffb77f7ea234005ff0162370d0e45a6d4aa7ba8d81", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorDirector Orientation and Continuing Education"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 297, "char_end": 851, "char_start": 0, "fragment_sha256": "0a821d5bf9ec71a4a5444deff43b8994b16a6c0203d702428bca5b4ceba6e4db", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorDirector Orientation and Continuing Education"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p85", "passage_kind": "narrative", "passage_sequence": 85, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s83", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Board views orientation and continuing education as vital tools for building an effective Board. We provide all new directors with orientation sessions regarding the Board and the Company’s operations. The orientation consists of presentations by members of senior management on the Company’s strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and the competitive landscape. In addition, the Company will pay for certain expenses for any director who wishes to attend seminars, conferences and other continuing education programs designed for directors of public companies."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b299"], "char_count": 1508, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1acb5db70a4b62a4fe2700f7335dc84c00a9f628fa08619fb498e6114b2b4d73", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 299, "char_end": 1508, "char_start": 0, "fragment_sha256": "b8bc0abe112c4b63dc51ae376f2c0055b91215af7e5efb379cddc94ef3cb4350", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p86", "passage_kind": "narrative", "passage_sequence": 86, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "As provided in our Corporate Governance Guidelines, the Board, together with the Nominating Committee, is responsible for determining the appropriate characteristics, skills, and experience for the Board as a whole and for its individual members. The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics and the ability to read and understand basic financial statements. In considering candidates for Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating Committee will evaluate whether incumbent directors possess the requisite skills and perspective, both individually and collectively. 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p87", "passage_kind": "narrative", "passage_sequence": 87, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "20 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 26\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b305"], "char_count": 3872, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d9520a90ce1fd5fcf8eaeed1d15fb10719d92f0ed19dae888d4458d267a97be", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 305, "char_end": 3872, "char_start": 0, "fragment_sha256": "25f595fb4542a63cb6cd3984491df7951f235a7921032afd7bbf15cfd26f5e4e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p88", "passage_kind": "narrative", "passage_sequence": 88, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "addition, the Board will review those directors’ overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors’ independence. The Nominating Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating Committee reviews the backgrounds of those candidates, evaluates candidates’ independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating Committee for candidates for election as a director. AnchorStockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating and Corporate Governance Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281, Attention: Sydney Schaub, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others. AnchorStockholder Engagement Opendoor engages with stockholders and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to stockholders. As we continue to grow as a public company, we will continue to engage with our stockholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with our stockholders to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance and business practices and public disclosures. AnchorCommunications from Stockholders Our Board currently does not have a formal process for stockholders to send communications to the Board. Nevertheless, the Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and chair (or lead independent director) of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Sydney Schaub, Secretary, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b305"], "char_count": 1033, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2a5380f9371128b7606d12cc800354dcc5b7178fb29c1ee561095a8413248fa1", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 305, "char_end": 4905, "char_start": 3872, "fragment_sha256": "25f595fb4542a63cb6cd3984491df7951f235a7921032afd7bbf15cfd26f5e4e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p89", "passage_kind": "narrative", "passage_sequence": 89, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "AnchorStock Ownership Guidelines In December 2022, we established stock ownership guidelines for our executive officers and directors. Within five years of the establishment of the guidelines (or becoming subject to the guidelines, if later) our CEO is required to hold the lesser of vested shares of the Company’s common stock equal to six times annual base salary, or 450,000 shares; other executive officers are required to hold the lesser of vested shares of the Company’s common stock equal to three times annual base salary, or 225,000 shares; and directors are required to hold the lesser of shares of the Company’s common stock equal to five times their annual cash retainer or 60,000 shares. Only issued shares are counted toward satisfaction of the ownership requirement. Accordingly, unvested equity awards (including both time- and performance-based) and unexercised stock options, if any, do not count toward satisfying the executive stock ownership requirement. Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 21"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b306", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b308", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b310"], "char_count": 3463, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "271258b645240147d577cc75cf8d01ef2dd5f248a1505b4183e523af04619e77", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 306, "char_end": 11, "char_start": 0, "fragment_sha256": "6bdb1a614d789242025ca88011ae02fcc00c04d23d8c505a78e7218e1ceeb781", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 308, "char_end": 6, "char_start": 0, "fragment_sha256": "7086b84180f3312c5bb0441f96b75ce86559eab46ad885da218a34c5ad5761bf", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 310, "char_end": 3442, "char_start": 0, "fragment_sha256": "a7cfbb987045db993d28997adf6dbab7f853a34d430cfe25996f060ac425890e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p90", "passage_kind": "narrative", "passage_sequence": 90, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 27\n\nAnchor\n\nAnchorCorporate Governance Documents & Policies We believe that good corporate governance is important to ensure that Opendoor is managed for the long-term benefit of our stockholders. Our Nominating Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Our Corporate Governance Guidelines are available in the “Corporate Governance” section of our website at https://investor.opendoor.com. References to our website address throughout this proxy statement are for informational purposes only, or to fulfill specific disclosure requirements of the SEC’s rules. These references are not intended to, and do not, incorporate the contents of our website by reference into this proxy statement. AnchorCode of Conduct The Board has adopted the Code of Conduct, which applies to all of our employees, officers and directors. Our Code of Conduct is available in the “Corporate Governance” section of our website at https://investor.opendoor.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct. AnchorWhistleblower Policy The Board has adopted a Whistleblower Policy applicable to its employees that provides for protection from retaliation or discrimination by Opendoor due to reporting issues relating to concerns involving questionable accounting or auditing matters and compliance with applicable laws and regulations. AnchorProhibitions on Hedging, Pledging and Short-Term Speculative Transactions Our Board has adopted an Insider Trading Policy, which applies to all of our directors, officers and employees. Our directors, officers and employees are prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities, or that may cause a director, officer or employee to no longer have the same objectives as the Company’s other stockholders. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account without the prior approval of the Board or duly authorized committees thereof. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. AnchorBoard Committees Our Board has established three standing committees — the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee — each of which operates under a charter that has been approved by our Board. Our Audit Committee, Compensation Committee, and Nominating Committee charters are available in the “Corporate Governance” section of our website located at https://investor.opendoor.com. During 2022, the Audit Committee held eight meetings, the Compensation Committee held eight meetings and the Nominating Committee held three meetings. 22 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b311", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b313", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b315"], "char_count": 529, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b88a8061d36402eddda40d334ede20eef8d76d33eed1c5d9e4bb4e7404319828", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 311, "char_end": 11, "char_start": 0, "fragment_sha256": "28cde1fa0fa2b8cde9af6e3fbddb6fc7d036d20bebe6f1d2c63d81be07825e1f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 313, "char_end": 6, "char_start": 0, "fragment_sha256": "6953f2bb79375838b272ff7c435c9dd58f48d4dc165b2665f9b88f4bbe5d8c98", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 315, "char_end": 508, "char_start": 0, "fragment_sha256": "dc05a8d7a1bc818903fbf3ba47fd544151a24bca314cb74737becc20b71548ca", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p91", "passage_kind": "narrative", "passage_sequence": 91, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 28\n\nAnchor\n\nOur Board has determined that all of the members of each of its committees are independent as defined under applicable Nasdaq rules. In addition, all members of the Audit Committee meet the heightened independence requirements contemplated by Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all members of the Compensation Committee satisfy the heightened independence requirements of the Nasdaq rules specific to the independence of compensation committee members."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b316"], "char_count": 670, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8f234f64b374c31aaf4b50a1e0385ddf6268fa748ad957788bfa3638e8e83b3d", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 316, "char_end": 536, "char_start": 0, "fragment_sha256": "860be772a0b5e5483d28de923b69d2387aa339af01cdd0c059a2929660daf1a5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": 12, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": 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Jonathan Jaffe | ​ | ​ | | ​ | ​ | | ​ | ​ | • |\n| Pueo Keffer | ​ | ​ | • | ​ | ​ | | ​ | ​ | |\n| Jason Kilar | ​ | ​ | | ​ | ​ | | ​ | ​ | CHAIR |\n| John Rice, Lead Independent Director | ​ | ​ | | ​ | ​ | | ​ | ​ | • |\n| Glenn Solomon | ​ | ​ | | ​ | ​ | CHAIR | ​ | ​ | |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b317"], "char_count": 2050, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "184a9380823ebfc3bd3a50bb5558cd9c33fc5ed98fb831f1c82cdd3cd9278383", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 317, "char_end": 2050, "char_start": 0, "fragment_sha256": "c643cd64edc5c9a3eee03cf61aa710a171679666a32344bdf8161a58af2ee0d0", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorProcess for Board Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p93", "passage_kind": "narrative", "passage_sequence": 93, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "CHAIR = Committee Chair + = Financial Expert • = Member Audit Committee Current Committee Members: Cipora Herman (CHAIR) Adam Bain Pueo Keffer ​ ​ Primary Responsibilities Include: • Appointing, compensating, retaining and overseeing our independent registered public accounting firm; • Evaluating the independence of our independent registered public accounting firm; • Reviewing with our independent registered public accounting firm the scope and results of their audit; • Approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm; • Overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC; • Discussing guidelines and policies governing the process by which senior management assesses and manages our exposure to risk, our major financial risk exposures and the steps we have taken to monitor and control such risks; • Reviewing and approving or ratifying related person transactions; • Reviewing the adequacy and effectiveness of the Company’s accounting and internal control policies and procedures on a regular basis, including the responsibilities, budget, compensation and staffing of the Company’s internal audit function; and • Establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters and the confidential anonymous submission of concerns regarding questionable accounting, internal controls or auditing matters. Financial Expertise and Independence All members of the Audit Committee meet the independence standards of Nasdaq and the SEC, as well as the financial literacy requirements of Nasdaq. The Board has determined that Ms. Herman qualifies as an “audit committee financial expert” as defined by SEC rules. 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• Reviewing the background and qualifications of individuals being considered as director candidates; • Recommending to our Board the nominees for election to our Board at annual meetings of our stockholders; • Reviewing and making recommendations to the Board regarding committee and Board composition and size; • Overseeing an annual evaluation of our Board and its committees; and • Developing and recommending to our Board, and periodically reviewing, the Corporate Governance Guidelines. Independence The Nominating and Corporate Governance Committee is composed entirely of directors who are independent under the Nasdaq rules. Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain ​ ​ Primary Responsibilities Include: • Evaluating the performance of our Chief Executive Officer and other executive officers in light of any goals and objectives of the Company’s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation level of the Company’s executive officers; • Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; • Reviewing the executive compensation plans in light of the Company’s goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and • Appointing and overseeing any compensation consultants. Independence The Compensation Committee is composed entirely of directors who are independent under the Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as a non-employee director under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 26 of this proxy statement for a discussion of the role of our executive officers and our compensation consultant in determining executive compensation. Compensation Committee Report The Report of the Compensation Committee is set forth beginning on page 42 of this proxy statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b324", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b325", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b327"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "78a7fd98a346adfd49dd6cfbe3eb55cde1fd305f6bdd9028c0412f74bfe0dca6", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at 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"AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorOUR EXECUTIVE OFFICERS"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p96", "passage_kind": "narrative", "passage_sequence": 96, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s85", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The following table sets forth the names, ages and positions of our current executive officers:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b331"], 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​ | Age | ​ | ​ | Position |\n| Carrie Wheeler* | ​ | ​ | 51 | ​ | ​ | Chief Executive Officer |\n| ​Christina Schwartz | ​ | ​ | 44 | ​ | ​ | Interim Chief Financial Officer & Chief Accounting Officer |\n| Sydney Schaub | ​ | ​ | 43 | ​ | ​ | Chief Legal Officer |\n| Megan Meyer Toolson | ​ | ​ | ​37 | ​ | ​ | President, Sell Direct & Services |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b332"], "char_count": 1710, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a27395b084396ad545abffea9cffc30522b0942ccfb1759044371f2a2b3adc91", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": 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See “Proposal 1 — Election of Directors” for more information about Ms. Wheeler. Sydney Schaub has served as our Chief Legal Officer since September 2022. Prior to joining the Company, Ms. Schaub served as Chief Legal Officer, General Counsel and Corporate Secretary of Gemini Trust Company, LLC, a regulated digital asset exchange and custodian, from October 2018 to September 2022. Prior to that, she served as General Counsel and Corporate Secretary at Rent the Runway, Inc. from May 2017 to October 2018 and Associate General Counsel at Square, Inc. from January 2016 to April 2017. Ms. Schaub received her J.D. degree from Harvard Law School, M.A. degree in English Literature from Stanford University and B.A. degree in English from Stanford University. Christina Schwartz has served as our interim Chief Financial Officer since December 2022 and our Chief Accounting Officer since March 2021. Prior to that, she served as the Company’s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. Megan Meyer Toolson has served as our President, Sell Direct & Services since December 2022. Prior to that, she served as the Company’s Chief Customer Officer from March 2021 to December 2022 and our Vice President, Operations GM from December 2020 to March 2021. Ms. Toolson received her MBA degree from Stanford University, M.S. degree in Professional Accounting from the University of Texas at Austin and B.A. degree in Business Administration from the University of Texas at Austin."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b333", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b334", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b336"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "54851a0fd605d4e8a35d9658b2910a7cdd2c49e777d1196f05cf381b558764a9", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 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In 2014, we founded Opendoor to reinvent one of life’s most important transactions and make it possible to buy, sell, and move at the tap of a button. By leveraging software, data science, product design and operations, we are building a managed marketplace for residential real estate that offers buyers and sellers an enhanced experience as compared to traditional real estate transactions. • Since launch, customers have demonstrated their desire for our digital, on-demand real estate solution with over 215,000 homes bought and sold by Opendoor across the United States. • In 2022, we sold over 39,000 homes and generated $15.6 billion in revenue, the latter of which represents a compound annual growth rate of 85% since 2017. • Importantly, we have achieved this growth while continuing to delight customers, maintaining an annual average Net Promoter Score of nearly 80 from our sellers in 2022. Our mission is straightforward: to power life’s progress, one move at a time. In furtherance of this mission, we are building a managed marketplace for residential real estate via two core product offerings: our first-party (1P) product and our third-party (3P) product. Together, these two offerings leverage our centralized platform capabilities. 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In connection with this belief, we made changes to our leadership team as we closed fiscal year 2022 as a means of strengthening our position. The leadership changes were made to put Opendoor in a position to drive financial and operational excellence while providing a continued focus on innovation. • In December 2022, our former CEO, Eric Wu, stepped into a new role as President, Marketplace; and we appointed Carrier Wheeler, our former CFO, as CEO effective as of December 1, 2022. Ms. Wheeler’s CEO compensation package is described in detail below under “Overview of Fiscal Year 2022 Executive Compensation Program.” • In connection with Ms. Wheeler’s appointment as CEO, the Board appointed Ms. Schwartz, who has served as our Chief Accounting Officer since March 2021, as our interim CFO. • Ms. Schaub was appointed our Chief Legal Officer effective September 6, 2022. • On December 1, 2022, Mr. Low Ah Kee resigned from his position as President effective as of the same date and resigned from employment in early April 2023; following his resignation, he is continuing as an advisor through June 2023.\n\n26 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 32\n\nAnchor\n\n• On February 21, 2023, Mr. Morillo notified us of his resignation as our Chief Investment Officer, effective as of the same date; following his resignation, he is continuing in employment with us as an advisor through May 31, 2023."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b352"], "char_count": 2060, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f40df48e27b74884a3c145d0039b33713de6c1210259c7bd8934edf65b97a2ae", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 352, "char_end": 2060, "char_start": 0, "fragment_sha256": "3fd8d86ed3ccbae95031e11a4149fc7c4752176761f2c5698667247f5cd149d5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p103", "passage_kind": "narrative", "passage_sequence": 103, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s90", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Compensation Committee and full Board take the outcome of our annual Say on Pay vote seriously and are focused on gathering and responding to our stockholders’ feedback regarding the Company’s executive compensation programs. As part of its compensation-setting process, the Compensation Committee considers the results of the stockholder advisory vote on our executive compensation from the prior year. Approximately 62% of the votes cast at our 2022 Annual Meeting were voted in favor of our executive compensation, as compared to approximately 99.8% the prior year. This Say on Pay vote result was lower than expected. In response, we undertook a stockholder outreach campaign with key institutional investors. Throughout fiscal 2022, we had conversations with stockholders collectively representing over 15% of non-affiliated outstanding shares (as of September 30, 2022) about issues of importance to them, including executive compensation, corporate governance matters, human capital, and our approach to environmental and social issues. In each meeting, company participation typically included our Chief Legal Officer, our Chief People Officer and our VP of Investor Relations. In these meetings, we received valuable feedback regarding the strengths of our executive compensation program as well as areas for improvement as we mature as a publicly-traded company. We specifically sought actionable feedback that could be better incorporated into Compensation Committee discussions and decisions going forward. In response to the feedback we received, the Compensation Committee remains committed to understanding and being responsive to stockholder sentiment. 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"table", "passage_sequence": 104, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s90", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b353", "text": "| | | | |\n| --- | --- | --- | --- |\n| What Stockholders Said: | ​ | ​ | Action We Took: |\n| Executive Compensation: | ​ | ​ | |\n| | ​ | ​ | |\n| Compensation philosophy and use of discretion in executive compensation decisions is not clearly outlined. | ​ | ​ | As noted below under “Compensation Philosophy and Objectives”, we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2022. |\n| | ​ | ​ | |\n| The company’s peer group and rationale for selection is not described. | ​ | ​ | As noted below under “Peer Group and Competitive Positioning”, we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics… |\n| | ​ | ​ | |\n| There is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | ​ | ​ | As discussed below under “Stock Ownership Guidelines,” in December 2022, we established stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers.… |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b354", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b355", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b357"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": 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"norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b359", "text": "| | | | |\n| --- | --- | --- | --- |\n| What Stockholders Said: | ​ | ​ | Action We Took: |\n| | ​ | ​ | the Compensation Committee determined that we will implement our clawback policy in accordance with the new listing standard when the new listing standard becomes final. |\n| | ​ | ​ | |\n| There is a lack of rationale for large executive equity award grants and it is unclear whether such grants represent multiple years of equity compensation. | ​ | ​ | We carefully consider the appropriate mix of compensation delivered to our executive officers. As such, our executive compensation has been carefully structured with a heavier emphasis on stock compe… |\n| | ​ | ​ | |\n| Governance: | ​ | ​ | |\n| | ​ | ​ | |\n| Provide additional information regarding evaluation of Board performance. | ​ | ​ | Our Board engages in annual self-evaluations, in addition to participating in an annual evaluation of board member expertise. For additional information on our evaluation of Board performance, please… |\n| | ​ | ​ | |\n| Appointing a lead independent director. | ​ | ​ | In connection with the leadership changes in 2022, on December 1, 2022 we appointed John Rice as the lead independent director. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b360", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b361", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b362", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b364"], "char_count": 729, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "492797d93fd2edf0058c66a5f0b0b72b6c023210baae7ca89d94cee1d098165c", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 360, "char_end": 649, "char_start": 0, "fragment_sha256": "13b9ee721566fd2369c46fbae929fb198ecd441acf3db60712d534e9a063eedd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 361, "char_end": 57, "char_start": 0, "fragment_sha256": "9ab3af31843c4ed92334c7066c2effcff745e59fe5da034ddb91e59337e7ad64", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 362, "char_end": 11, "char_start": 0, "fragment_sha256": "8862157d72ce0aff0c549be3872a91de18b5fbbf0905433a3cbf690329c7e4d1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 364, "char_end": 6, "char_start": 0, "fragment_sha256": "f003532d9d0b34c505d0b66e468af15fa72197941dfffbbe1d414f67f9084ff5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2022 Say on Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p107", "passage_kind": "narrative", "passage_sequence": 107, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s90", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We believe that our robust dialogue on these and other topics demonstrates our commitment to strong corporate governance and market-based compensation structures. We will continue to regularly engage with our stockholders on compensation matters and will continue to address issues and suggestions received through these stockholder efforts. As our stockholders’ views and market practices on executive compensation evolve, the Committee will continue to evaluate and, when appropriate, make changes to our executive compensation program, ensuring that the program continues to reflect our pay-for-performance compensation philosophy and objectives.\n\n28 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 34\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b367"], "char_count": 466, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6df42755161fa9792426c5007263695f2ad619f102439bf971444bcbe5448ffa", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Executive Compensation Policies and Practices"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 367, "char_end": 466, "char_start": 0, "fragment_sha256": "e45dc4a306dee763a9a331682ec231d2cae78f8e7a02fd9d72a929c5eed99f81", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Executive Compensation Policies and Practices"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p108", "passage_kind": "narrative", "passage_sequence": 108, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s91", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We endeavor to maintain sound governance standards consistent with our executive compensation policies and practices. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. 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In our first two years as a public company, decisions on how we structured our executive compensation were aligned to the achievement of our mission. Our focus on executive compensation has been to keep compensation components simple thus ensuring a level of focus and unrelenting commitment to grow our business. As noted below under “Compensation Elements,” our executive compensation program has consisted of two elements — base salary and long-term incentive compensation in the form of equity awards, with a large portion of our executive compensation consisting of equity awards to ensure our executives are focused on growth and long term shareholder value. As our business scales and matures over time, we expect to adjust our executive compensation program accordingly, including by introducing performance based elements.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 29\n\nEnd Page 35\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b376"], "char_count": 3979, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1c3fe4ef859e6b7d5fa9491945f5662205a095c9db275f1822fdef0ba4c0cec3", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 376, "char_end": 3979, "char_start": 0, "fragment_sha256": "14a21c2226e56767bb5cb852059bc546f065bfb5f5714f686b4961f4cdbb0f6f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p111", "passage_kind": "narrative", "passage_sequence": 111, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Set forth below is an overview of the key compensation decisions related to our fiscal year 2022 executive compensation program: • Equity Awards to Align Executive Compensation With Long-Term Stockholder Value. The majority of our named executive officers’ target total direct compensation opportunities are structured with a significant long-term equity component, making a substantial portion of each named executive officer’s target total direct compensation dependent upon our overall, long-term success. The Compensation Committee approved awards in connection with new-hire, promotional or retention compensation packages, as applicable, for Ms. Wheeler, as discussed directly below, and for Ms. Schwartz and Ms. Schaub. All equity awards granted to our named executive officers during 2022 were determined by our Compensation Committee upon the recommendation of its independent compensation consultant and a review of comparable company information. • Market Driven CEO Compensation Package for Carrie Wheeler. After careful consideration by the Compensation Committee and the Board, we named Ms. Wheeler to be the Company’s CEO and appointed her to the Board, as a Class III director, effective as of December 1, 2022. In selecting Ms. Wheeler to assume the CEO role, the Board considered Ms. Wheeler’s skill set, including her deep financial acumen and operating insight, each of which is critically important to the long-term success of our business. Until her CEO appointment, Ms. Wheeler served as our CFO since December 2020 and as a member of our Board prior to that. Ms. Wheeler also has 25 years of experience in private equity and board experience across numerous consumer companies. In determining Ms. Wheeler’s new compensation package, our Compensation Committee requested that our compensation consultant, Compensia, provide market compensation insight. Our Compensation Committee, with input from Compensia, considered Ms. Wheeler’s potential compensation package based on compensation packages of our peer companies as well as other relevant technology companies that had recently appointed CEOs. The Compensation Committee considered it important that Ms. Wheeler’s compensation package reflect a competitive pay level associated with her new role to ensure her alignment to the long term growth and success of the Company. In addition, the Compensation Committee felt that it was important to provide an annual incentive opportunity to incent Ms. Wheeler to achieve our annual business and strategic objectives, along with severance protection, which is offered to executives at the majority of our peer companies. The Compensation Committee structured Ms. Wheeler’s compensation package to ensure her interests were focused on long-term value creation for our shareholders. In connection with the appointment of Ms. Wheeler as our CEO, we and Ms. Wheeler entered into an amendment to Ms. Wheeler’s existing offer letter agreement. Pursuant to such amendment, Ms. Wheeler is entitled to an annual base salary of $750,000 and is eligible to participate in an annual cash incentive program established by the Compensation Committee, with a minimum bonus opportunity of $250,000 for 2023. The offer letter amendment further provides Ms. Wheeler with certain severance benefits, as described below under “Executive Offer Letters.” In addition, in connection with her appointment as CEO, Ms. Wheeler was granted an award of TRSUs on January 2, 2023 covering 15,060,241 shares. This number of TRSUs was determined by dividing $25,000,000 by (i) the average closing price per share of our common stock over the 20 trading day period commencing with the trading day that was ten days preceding December 1, 2022 (subject to a minimum of $1.65 per share and a maximum of $2.00 per share). The TRSUs will vest quarterly over a four-year period commencing on December 1, 2022 subject to Ms. Wheeler’s continued employment with the Company on each such vesting date."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b376"], "char_count": 536, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d21083839917e493f877bad55bb991d75ec2bec4abbf5d25f690949d5235e280", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 376, "char_end": 4515, "char_start": 3979, "fragment_sha256": "14a21c2226e56767bb5cb852059bc546f065bfb5f5714f686b4961f4cdbb0f6f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p112", "passage_kind": "narrative", "passage_sequence": 112, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "As noted above, in determining the value of Ms. Wheeler’s TRSU grant, the Committee considered a competitive market analysis prepared by Compensia for sign-on CEO equity grants and also considered the importance of Ms. Wheeler to the Company’s ability to execute on its transformation plans. • Targeted Salary Increases. For fiscal year 2022, the Compensation Committee determined to increase the base salaries of Ms. Wheeler, in connection with her promotion to CEO, and Ms. Schwartz, in connection with her appointment as interim CFO."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b377", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b378", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b380", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b382"], "char_count": 918, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e13a52074274ee67dc1fd9723c282026ace7c3f20b712622c3cb43880c7f7f01", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 377, "char_end": 57, "char_start": 0, "fragment_sha256": "40debb03407a52e87728b6ef7dffcb048e3a6009e3d21a4e4a4e037b66572400", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 378, "char_end": 11, "char_start": 0, "fragment_sha256": "27efa991a421c2f75241698784c276ce42ed430748db1154a0b58bde28aa68b5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 380, "char_end": 6, "char_start": 0, "fragment_sha256": "4aa6d4671a956468171d4f619c7d2676f65898863fba747cd674440423e951f4", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 382, "char_end": 838, "char_start": 0, "fragment_sha256": "83349cbfd518384bcf7d50b2dcdf8a429e24c9d4351f33ec2cadc3c56ab1f078", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p113", "passage_kind": "narrative", "passage_sequence": 113, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "30 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 36\n\nAnchor\n\n• Eric Wu Transition Arrangements and Equity Award Forfeiture. As noted above, Mr. Wu resigned from his position as CEO effective December 1, 2022 to become our President, Marketplace, and in this role he will focus on driving the development of our third-party marketplace. In connection with his resignation as CEO and transition to our President, Marketplace, we and Mr. Wu entered into an amendment to Mr. Wu’s existing employment letter agreement, pursuant to which Mr. Wu agreed to forfeit a large portion of his outstanding unvested equity awards, effective as of December 1, 2022. Finally, if Mr. Wu is no longer serving as our President, Marketplace, he will cease to serve on our Board. The table below describes the amounts forfeited by Mr. Wu in connection with his resignation as CEO and transition to President, Marketplace:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b383"], "char_count": 559, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "15baf2088c61f55bf1d39245f6e1bf7bf96040a862662346409721bc7f712b64", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 383, "char_end": 422, "char_start": 0, "fragment_sha256": "ba69954aa0f20d4839df74d6e2d7ab1c2500f5f6e3ed27a09a5cbbd6e10240f8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": 17, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p114", "passage_kind": "table", "passage_sequence": 114, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b383", "text": "| | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Awards | ​ | ​ | Granted | ​ | ​ | Vested as of 12/01/2022 | ​ | ​ | Forfeited Award Opportunity | ​ | ​ | % of Award Forfeited |\n| TRSUs granted 3/30/21(1) | ​ | ​ | 5,438,506 | ​ | ​ | 2,379,345 | ​ | ​ | 3,059,161 | ​ | ​ | 56% |\n| PRSUs granted 12/17/2020(2) | ​ | ​ | 14,885,774 | ​ | ​ | 2,480,962 | ​ | ​ | 12,404,812 | ​ | ​ | 83% |\n| Sum of Above | ​ | ​ | 20,324,280 | ​ | ​ | 4,860,307 | ​ | ​ | 15,463,973 | ​ | ​ | 76%(3) |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b384"], "char_count": 642, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bbc55c2a73da6768ab9c300b6a4b8232066ec97e88759db5f18da860ef464039", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 384, "char_end": 642, "char_start": 0, "fragment_sha256": "93efac8460d22a50c265b91615abbcd23ed0b63225198e5652b4a59de14ff933", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Overview of Fiscal Year 2022 Executive Compensation Program"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p115", "passage_kind": "narrative", "passage_sequence": 115, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(1) TRSU award that was eligible to vest in equal quarterly installments over four years following January 15, 2021, subject to continued service through each vesting date. (2) PRSU award that was eligible to vest in equal installments upon achievement of six predetermined share price milestones (five of which remained outstanding as of the date of forfeiture), subject to continued service through each vesting date. (3) Represents the number of shares forfeited under each of the TRSU award and PRSU award, in the aggregate, as a percentage of the number of shares initially subject to the TRSU award and the PRSU award, in the aggregate."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b386"], "char_count": 1242, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "86ba83e7cd3ac0cb0936381f34c35861308f018b9e209006c8808ce9953ff8b8", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Compensation Philosophy and Objectives"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 386, "char_end": 1242, "char_start": 0, "fragment_sha256": "55c13257aeaa6be75bd850ef79fe6dfc61177b86bf24eb826934dd0b11ec1671", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Compensation Philosophy and Objectives"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p116", "passage_kind": "narrative", "passage_sequence": 116, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Our compensation programs are designed to attract, retain and motivate our employees, including our executive officers, by ensuring that such programs are aligned to the market, scalable and flexible for our leaders to operate within, and simple and clear for our employees to understand. We typically implement this philosophy by emphasizing equity, rather than cash, compensation. With respect to our executive compensation program, our key objectives are to: • allow us to attract and retain highly qualified executive officers; and • ensure our executive team interests are directly aligned to the creation of long term stockholder value. To attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation, and we believe our executive compensation program is appropriately structured in this regard. We also believe that providing our executive officers and other employees with an opportunity to be owners in our business better aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided our executive officers, including our named executive officers, with a compensation package consisting of the following elements:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b387"], "char_count": 1054, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "016eea48bebf54afd8a8e64bc3a1ed06cbfb3b741b3fb5c4b4ea87d49167f579", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Compensation Philosophy and Objectives"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 387, "char_end": 944, "char_start": 0, "fragment_sha256": "2d62d1f4abf154a74295f9eec20ec5c47094498b51824d2f1a70a981ed265fbd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Compensation Philosophy and Objectives"], "table_index": 18, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p117", "passage_kind": "table", "passage_sequence": 117, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b387", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Element | ​ | ​ | Type of Element | ​ | ​ | Compensation Element | ​ | ​ | Objective |\n| Base Salary | ​ | ​ | Fixed | ​ | ​ | Cash | ​ | ​ | Designed to compensate our executives for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each executive. |\n| Bonuses | ​ | ​ | Variable | ​ | ​ | Cash | ​ | ​ | Provided on an as needed basis and in connection with an evaluation of an employment offer or retention objectives. These may take the form of sign-on or retention incentives. |\n| Long-Term Incentive Compensation | ​ | ​ | Variable | ​ | ​ | Equity awards in the form of TRSU awards that may vest and be settled for shares of our common stock and PRSU awards that may be earned and settled for shares of our common stock. | ​ | ​ | Designed to align the interests of our executives and our stockholders by motivating our executives to create sustainable long-term stockholder value. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b388", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b389", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b391"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f725a994727b357c6b616b05f267d2fca7b65c0b7e6176b8fcffb65498fbc88e", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": 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Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers. In carrying out its responsibilities, the Compensation Committee evaluates our compensation policies and practices with a focus on the degree to which these policies and practices reflect our executive compensation philosophy, develops strategies and makes decisions that it believes further our philosophy or align with developments in best compensation practices, and reviews the performance of our executive officers when making decisions with respect to their compensation or recommendations to our Board with respect to their compensation. The Compensation Committee has retained a compensation consultant (as described below) to provide support in its review and assessment of our executive compensation program; however, the Compensation Committee exercises its own judgment in making final decisions or recommendations with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee reviews our executive compensation program annually. As part of this review process, the Compensation Committee applies the objectives described above within the context of our overall compensation philosophy while simultaneously considering the compensation levels needed to ensure that our executive compensation program remains competitive based on input and market data provided by the Compensation Committee’s compensation consultant. The Compensation Committee also evaluates whether we are meeting our retention objectives and the potential cost of replacing key named executive officers."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b397"], "char_count": 2013, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f93b04607fa33184cc3645e355d7e753c55981bebe5e7c2439289daebcec6de2", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 397, "char_end": 2013, "char_start": 0, "fragment_sha256": "a1c847781d0bba9cfc983d355ecb4fb3bc156289370784cfbbdc3e2e5f395399", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p120", "passage_kind": "narrative", "passage_sequence": 120, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s96", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Compensation Committee conducts an annual review of the compensation arrangements of our executive officers, including our named executive officers. As part of this review, the Compensation Committee evaluates the base salary levels, any sign-on and retention bonuses, and the long-term incentive compensation opportunities of our executive officers and all related performance criteria. The Compensation Committee does not intend to establish a specific target for formulating the target total direct compensation opportunities of our executive officers. Instead, it evaluates both performance and compensation to ensure that the compensation provided to our executive officers is competitive relative to the compensation paid by similar companies in the technology and internet retail sectors, with particular emphasis on our peer companies as described below. In making decisions about the compensation of our executive officers, the members of the Compensation Committee rely primarily on considerations of various factors, including the following: • our executive compensation program objectives; • our performance against the financial, operational and strategic objectives established by the Compensation Committee and our Board; • each executive officer’s knowledge, skills, experience, qualifications and tenure relative to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; • the scope of each executive officer’s role and responsibilities compared to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; • the prior performance of each executive officer, based on a subjective assessment of their contributions to our overall performance, and ability to lead their business unit and work as part of a team; • the potential of each executive officer to contribute to our long-term financial, operational and strategic objectives;"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b398", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b399", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b401", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b403"], "char_count": 1369, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3ea558d3284fe15002d5af7f654cf639eae919c2a317802729e3bd2e94d107ac", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 398, "char_end": 57, "char_start": 0, "fragment_sha256": "7e1f64049887d0bfb6acc100c65bfb6d06978ee84d248fe87a13bf5cc779695b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 399, "char_end": 11, "char_start": 0, "fragment_sha256": "631b2364ed1c8f23ad41954ec9f8ce756313002de1e9171510b723165dace17a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 401, "char_end": 6, "char_start": 0, "fragment_sha256": "7f4b81ff27f3d99db363c6159a9ab634fd83de5a9fd9052e5393e419756affc8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 403, "char_end": 1289, "char_start": 0, "fragment_sha256": "0228bc6c570667440eaf5f8ed48668113bb202927add7d647005de913c0188c2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p121", "passage_kind": "narrative", "passage_sequence": 121, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s96", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "32 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 38\n\nAnchor\n\n• our CEO’s compensation relative to that of our other executive officers, particularly our other named executive officers; • our financial performance relative to our peers; • the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer’s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and • the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to her own compensation). These factors provide the framework for compensation decision-making and final decisions by the Compensation Committee or its recommendations to our Board for final decisions regarding the compensation opportunity for each executive officer. The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b405"], "char_count": 1248, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c5fc9382f4e2ce5a12c0fe443ca1afec644b4015be4129d887b0ecf386191eb5", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of Management"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 405, "char_end": 1248, "char_start": 0, "fragment_sha256": "51ad95445d3a32221121285f7d650db32837b64adddddfa9fc231f817c6f5942", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of Management"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p122", "passage_kind": "narrative", "passage_sequence": 122, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s97", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "In discharging its responsibilities, the Compensation Committee works with members of our management, including our CEO. Our management assists the Compensation Committee by providing information on corporate and individual performance, market compensation data and management’s perspective on compensation matters. The Compensation Committee solicits and reviews our CEO’s proposals with respect to program structures, as well as her recommendations for adjustments to annual base salaries, long-term incentive compensation opportunities and other compensation-related matters for our executive officers, including our named executive officers (except with respect to her own compensation), based on her evaluation of their performance for the prior year. The Compensation Committee reviews and discusses proposals and recommendations with our CEO and considers them as one factor in determining and approving the compensation of our executive officers or making recommendations to our Board with respect to the compensation of our executive officers. Our CEO also attends meetings of our Board and the Compensation Committee at which executive compensation matters are addressed, except with respect to discussions involving her own compensation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b407", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b408", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b409", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b411", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b413"], "char_count": 3478, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bf27a1b12f2dea6566bf21f014d94c9f0efd9e32d967885e78582718e903231d", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 407, "char_end": 1289, "char_start": 0, "fragment_sha256": "0960b8f230d20faec6cdbe793acc3664513dbb26ef409fba75691413c04233b8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 408, "char_end": 57, "char_start": 0, "fragment_sha256": "db835ed7d35e021a793da4cf09af77cce592868e7fc85c14ab2eaaa6900705be", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 409, "char_end": 11, "char_start": 0, "fragment_sha256": "dcff1721f4f82bfb7e08ac1f63ffc7fc5026a7861bffa0bc286e849e6ba56e9a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 411, "char_end": 6, "char_start": 0, "fragment_sha256": "151e26cd825a3b6f752088f651ef083abac6f5c0054a402cb4ae6efb613289f1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 413, "char_end": 2107, "char_start": 0, "fragment_sha256": "026ed9ca4f4b9c00224144c34e51871539a93e97b9cc49283a63afe61fd9c766", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p123", "passage_kind": "narrative", "passage_sequence": 123, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Compensation Committee has the authority to retain an external compensation consultant to assist it by providing information, analysis and other advice relating to our executive compensation program and the decisions resulting from its annual executive compensation review, including the authority to approve the consultant’s reasonable fees and other retention terms. The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. Since 2020, the Compensation Committee has engaged Compensia, Inc. (“Compensia”) to serve as its compensation consultant to advise on executive compensation matters, including competitive market pay practices for our executive officers, and with the data analysis and selection of the compensation peer group. In addition to the work Compensia performed in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or the Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us or the Compensation Committee.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 33\n\nEnd Page 39\n\nAnchor\n\nDuring 2022, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: • the review, analysis and updating of our compensation peer group; • the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; • a competitive market assessment for executive-level management, including analyses for potential new hires; • market compensation data to inform revised compensation package for Ms. Wheler in connection with her promotion to Chief Executive Officer; • market compensation data to inform design of executive severance program; • consultation with the Compensation Committee chair and other members between Compensation Committee meetings, including with respect to: • market analysis on stock ownership guidelines; • updates on compensation trends; and • regulatory updates; and • support on other ad hoc matters throughout the year. The terms of Compensia’s engagement include reporting directly to the Compensation Committee chair. Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2022, Compensia did not provide any other consulting or other services to us. The Compensation Committee has evaluated its relationship with Compensia to ensure that it believes that such firm is independent from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2022. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b415"], "char_count": 2161, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6764695f6094a14dea294c4e33b4d425d52214990673cef1409c2b6e708ebc1e", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 415, "char_end": 2161, "char_start": 0, "fragment_sha256": "ecf4a0a5d9f419222420e0c2fc1d4c87ed57f627d38bc55c40ace78033b5789a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p124", "passage_kind": "narrative", "passage_sequence": 124, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s99", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. The Compensation Committee uses data drawn from a select peer group of companies to make decisions with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee uses the peer group compensation data as one of several factors in assessing executive pay program design and total equity utilization. We also supplement the data for our peer group with published compensation surveys where appropriate. The Compensation Committee's compensation decisions are made on a case-by-case basis. Benchmark results do not, in and of themselves, determine individual compensation decisions and we do not target specific pay percentiles. Overall, we believe that use of information from the peer group enables the Compensation Committee to create better alignment between executive pay and performance and to help ensure that we can attract and retain high-performing executive leaders. For both 2021 and 2022, the Compensation Committee evaluated the peer group of companies identified below, as recommended by Compensia and approved by the Compensation Committee in each respective period. The companies in this peer group were selected based on the following primary criteria: (i) public companies headquartered in the United States, (ii) in the same or adjacent industry, including either consumer focused technology-enabled services, real estate services, retail/internet retail, or software and services, (iii) measured at the time of selection as having a comparable market capitalization (between 0.25x and 4.0x of our market capitalization), and (iv) and with gross profit in a range of approximately 0.5x to 2.0x our gross profit over the trailing four fiscal quarters. Compensia further refined the list of peers by evaluating whether the company had high revenue growth, low gross margin and whether it recently became a publicly listed company."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b416", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b417", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b419", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b421"], "char_count": 180, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9507b44c4994059f2f6fdeb4de3955d32bff787508731c5831161195cd674473", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": 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"1c79abdb19a00910adff4212a4d190bb5d290f94b5db606b898bc53446e12e22", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and Competitive Positioning"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p125", "passage_kind": "narrative", "passage_sequence": 125, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s99", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "34 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 40\n\nAnchor\n\nThe peer group for determining our 2022 compensation decisions consisted of the following companies:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b422"], "char_count": 436, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "66a249954bc00231d2cb2200e4914b5df84e4b42969c247a1e2797990f8f0153", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "For 2022, our executive compensation program consisted of two principal elements – base salary and long-term incentive compensation in the form of equity awards. It also included participation in our executive severance plan and our broad-based health and welfare benefit programs. In addition, certain of our named executive officers also received sign-on, promotion or retention bonus payments for 2022."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b428"], "char_count": 1814, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "eb9e73e0f0d5cc40b2b699d464c77b11278b7b46207647af8b0e7ad8294ff376", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 428, "char_end": 1814, "char_start": 0, "fragment_sha256": "60c7b3ff6fb00284d367ffcb4b49bff8d6c4caf2e29fe082af8e5c95febe18dc", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p130", "passage_kind": "narrative", "passage_sequence": 130, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We provide a base salary as a fixed source of compensation for our executive officers, including our named executive officers, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock. The Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. The initial base salaries of our executive officers were established at the time they entered into an employment offer letter or confirmatory employment offer letter with us and took into account their qualifications, experience, comparable market data and prior base salary level. The Compensation Committee reviews the annual base salaries of our executive officers, including our named executive officers, as part of its annual review of the compensation arrangements of our executive officers, taking into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to her own annual base salary) and the factors set forth in “Compensation-Setting Process – Setting Target Total Direct Compensation” above. In connection with the appointment of Ms. Wheeler and Ms. Schwartz as our CEO and interim CFO, respectively, the Compensation Committee increased their annual salaries, taking into account market data from our peer group and the other factors set forth in “Executive Summary – Leadership Transition and Related Changes to Compensation.” Otherwise, the Compensation Committee determined to maintain the annual base salaries of our other named executive officers for 2022 at their 2021 levels (to the extent such NEO was employed in 2021)."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b429"], "char_count": 716, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c0764eb5ec3a23946d7ea70a0ddf417b12549df6ff0007d984c651e12162d359", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", 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"items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 435, "char_end": 3872, "char_start": 0, "fragment_sha256": "5947169bd34a33090c4f4ca4ce159ae422daa15709895bb7d4bca2615b007637", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p133", "passage_kind": "narrative", "passage_sequence": 133, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Long-Term Equity Compensation We believe that providing long-term incentives in the form of equity awards encourages our executive officers, including our named executive officers, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our executive officers, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Board and the Compensation Committee believe that equity awards align our executive officers’ interests and contributions with the long-term interests of our stockholders. In addition, our Board and the Compensation Committee believe that offering meaningful equity ownership in the Company is helpful in retaining our executive officers, including our named executive officers, and other key employees. Our general practice has been to grant our named executive officers TRSU awards, and in certain circumstances PRSU awards, at the start of employment and for retention purposes. We do not currently have a formal process for granting equity awards on an annual basis. The size and precise terms of the awards are determined by the Compensation Committee. In 2022, the Compensation Committee granted the equity awards discussed below to Ms. Schwartz and Ms. Schaub. In making its determinations, the Compensation Committee considered a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO, the economic position of the Company, broader economic conditions, our historical compensation structure, the potential dilutive effect of the awards on our stockholders and the other factors set forth in “Compensation-Setting Process – Setting Target Total Direct Compensation” above. The Compensation Committee also approved a TRSU award for Ms. Wheeler in connection with her promotion to CEO in December 2022, as discussed in “Executive Summary – Leadership Transition and Related Changes to Compensation” above. The TRSU grant was made in January 2023. Equity Awards for Ms. Schwartz On February 9, 2022, the Compensation Committee granted to Ms. Schwartz two TRSU awards for retention purposes, each covering 54,907 shares of our common stock. The first retention grant is subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following June 15, 2022, subject to her continuous service with us through each such vesting date. The second retention grant is subject to a four-year vesting schedule, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following January 15, 2022, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to her continuous service with us through each such vesting date. On August 24, 2022, the Compensation Committee granted to Ms. Schwartz a TRSU award for business continuity purposes, covering 77,519 shares of our common stock. This TRSU grant is subject to a two-year vesting schedule, with 25% of the total number of TRSUs vesting on the six-month anniversary of December 15, 2022, and 1/8th of the total units subject to the award vesting on a quarterly basis thereafter, subject to her continuous service with us through each such vesting date. In connection with her appointment as interim CFO, Ms. Schwartz was granted TRSUs covering 250,000 shares of our common stock on December 20, 2022. Such TRSU grant is subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to her continuous service with us through each such vesting date. Equity Award for Ms."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b435"], "char_count": 522, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "08ca4f34a6e79b8b670d866a1dac85770c7dfe4bcae3454a9359f66cd9b8266d", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 435, "char_end": 4394, "char_start": 3872, "fragment_sha256": "5947169bd34a33090c4f4ca4ce159ae422daa15709895bb7d4bca2615b007637", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p134", "passage_kind": "narrative", "passage_sequence": 134, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Schaub In connection with her commencement of employment as our Chief Legal Officer, and pursuant to her employment offer letter, Ms. Schaub was granted an award of 1,558,441 TRSUs on October 7, 2022. One-third of the total number of TRSUs will vest on September 15, 2023 and the remaining two-thirds will vest in quarterly installments over the next eight subsequent quarters, in each case subject to her continuous service with us through each such vesting date. 36 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b436", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b438"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "96d2b181032b0d37592b179780d314774b462b5eed6797241eb51c4065c24e5b", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 436, "char_end": 11, "char_start": 0, "fragment_sha256": "4b3273bbd51b73d7704edbf8043b642f25af40c09139e196e5a6c04fa7372f61", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 438, "char_end": 6, "char_start": 0, "fragment_sha256": "a2c99d9797095ceb3ebf4a15fd71b5015ce9545e1eab1b1696ebe8cf0fc3f271", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p135", "passage_kind": "narrative", "passage_sequence": 135, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 42\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b440"], "char_count": 3899, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "970c5817caa71489f1d445a927ebde1ae4c11b7ab70a7a6320c3afc620dba35a", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 440, "char_end": 3899, "char_start": 0, "fragment_sha256": "2e16447d3dfde5cde39e52e101f5918eec462cf974ac5fda8bc8f3e03cb86555", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p136", "passage_kind": "narrative", "passage_sequence": 136, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "No Annual Bonuses for 2022 In 2022, as in past years, we did not maintain an annual cash bonus or other incentive plan for our executive officers, including our named executive officers. Instead, our Board and the Compensation Committee relied primarily on the long-term incentive compensation opportunities granted to our executive officers. We implemented an annual cash incentive opportunity for Ms. Wheeler in connection with her appointment as CEO that will be effective for fiscal year 2023, as discussed in “Executive Summary – Leadership Transition and Related Changes to Compensation” above. The Compensation Committee continues to evaluate whether to include annual cash incentives as part of the compensation packages of our other named executive officers in the future, in order to motivate and reward achievement of our annual strategic goals, which would be paid only if we achieve our short-term goals, consistent with our pay for performance philosophy. Sign-On and Retention Bonuses In order to attract top talent, we from time to time provide sign-on and retention compensation to our executive officers. In connection with the commencement of Ms. Schaub’s employment in September 2022, we approved a cash sign-on and retention bonus in the amount of $525,000, $350,000 of which was paid on the first regularly scheduled payment date after her employment start date and the remaining $175,000 of which will be paid within 30 days after the first anniversary of her employment start date. If Ms. Schaub resigns without “good reason” or we terminate her employment for “cause” (each as defined in her employment offer letter) prior to the second anniversary of her employment start date, Ms. Schaub is required to repay a pro-rata portion of the after-tax portion of any amount paid prior to her termination of employment. We believe that this bonus was an appropriate incentive to encourage Ms. Schaub to join us and to help retain Ms. Schaub through the second anniversary of her employment start date, in addition to Ms. Schaub’s equity award discussed above. In connection with the hire of Mr. Morillo in January 2021, we approved a cash sign-on and retention bonus in the aggregate amount of $3,800,000, $1,500,000 of which was paid as a sign-on bonus in January 2021, $1,150,000 of which was paid as a retention bonus in January 2022 after the first anniversary of his employment start date and $1,150,000 of which was paid as a retention bonus in 2023 within 30 days after the second anniversary of his employment start date, subject to his continuous active employment with us through such anniversary date. We believed that these bonuses were appropriate as an incentive for Mr. Morillo to join us and to help retain Mr. Morillo through the second anniversary of his employment start date. Special One-Time Bonus In connection with the appointment of Ms. Schwartz as our interim CFO, the Compensation Committee approved a one-time cash bonus to Ms. Schwartz in the amount of $225,000, payable in four equal quarterly installments commencing on February 15th, 2023. We believe such a bonus was appropriate to recognize Ms. Schwartz’s increased responsibilities in her new role and to retain her during this critical transition period for the Company. Health and Welfare Benefits Our named executive officers are eligible to participate in the same employee benefit plans, and on the same terms and conditions, as all other full-time, salaried U.S. employees, subject to the terms and eligibility requirements of such plans. These benefits include medical, dental and vision insurance, business travel insurance, an employee assistance program, health and dependent care flexible spending accounts, basic life insurance, accidental death and dismemberment insurance, short-term and long-term disability insurance, commuter benefits and reimbursement for mobile phone coverage."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b440"], "char_count": 982, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4e56f9b14ac4b10e938f77461be780b508b5ea464caf4a35ea067eb1db2e94b1", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 440, "char_end": 4881, "char_start": 3899, "fragment_sha256": "2e16447d3dfde5cde39e52e101f5918eec462cf974ac5fda8bc8f3e03cb86555", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p137", "passage_kind": "narrative", "passage_sequence": 137, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We also sponsor a Section 401(k) retirement savings plan (the “Section 401(k) Plan”) that provides our executive officers, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis subject to the limits imposed by the Internal Revenue Code of 1986, as amended (the “Code”), to the same extent as our other eligible full-time employees. Participants are able to defer up to 90% of their eligible compensation subject to applicable annual limits under the Code. All participants’ interests in their deferrals are 100% vested when contributed. Currently, we do not match employee contributions to the Section 401(k) Plan. We believe that providing a vehicle for tax-deferred retirement savings through our Section 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers. Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 37"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b441", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b443"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ae8ec50e0d512673c67c2d0bf5454b2f11c7d85c045257e8f37b0935b0026da8", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 441, "char_end": 11, "char_start": 0, "fragment_sha256": "31e1928b1223ad544b9138899ba47cc36b5fa715b2f9b5d16196cfff1b0c4834", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 443, "char_end": 6, "char_start": 0, "fragment_sha256": "fb5f4f3287528d768b0120d6981375804b03653ea74e5c4b44b882d28c154e43", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p138", "passage_kind": "narrative", "passage_sequence": 138, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 43\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b445"], "char_count": 3788, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7cf6f0549cbadcd91d35ee6e1be132c9b380bc66fd4efd554235e20f117b1070", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 445, "char_end": 3788, "char_start": 0, "fragment_sha256": "7e5e826eac16081bf4ab9b06acfb98ef9c30a64d78bf22043dc32390e531e16d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p139", "passage_kind": "narrative", "passage_sequence": 139, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "We design our employee benefits programs to be affordable and competitive in relation to the market as well as compliant with applicable laws and practices. We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices and the competitive market. Perquisites and Other Personal Benefits Currently, we do not view perquisites or other personal benefits as a significant component of our executive compensation program. Accordingly, we do not generally provide perquisites or other personal benefits to our named executive officers, except as generally made available to our employees or in situations where we believe it is appropriate to assist an individual in the performance of their duties, to make them more efficient and effective and for recruitment and retention purposes. During 2022, our named executive officers did not receive perquisites or other personal benefits that were, in the aggregate, $10,000 or more for each individual. In the future, we may provide perquisites or other personal benefits in limited circumstances, such as those described in the preceding paragraph. All future practices with respect to perquisites or other personal benefits will be approved and subject to periodic review by the Compensation Committee. AnchorEmployment Offer Letters We have entered into written employment offer letters with each of our named executive officers. Each of these employment offer letters was approved prior to the Business Combination by the compensation committee and/or board of directors of Opendoor Labs Inc., or, in the case of Ms. Schaub’s offer letter, by our Compensation Committee. We believe that these arrangements were necessary to secure the services or the continued service of these individuals in a highly competitive job market. Each of these employment agreements does not have a specific term, provides for “at will” employment (meaning that either we or the named executive officer may terminate the employment relationship at any time without cause) and generally set forth the named executive officer’s base salary, eligibility to participate in our employee benefit plans and programs in effect for similarly situated employees during their employment, in some instances provided for a sign-on bonus and/or retention payment and, in certain instances, provided for certain of the named executive officers to receive equity awards on the terms and conditions as set forth in the employment offer letter. In addition, each named executive officer either agreed to execute and be bound by our Confidential Information and Inventions Assignment Agreement or confirmed that the named executive officer agreed to continue to be bound by the Confidential Information and Inventions Assignment Agreement they had previously executed, which contains, among other things, restrictive covenants pursuant to which such officers agree (i) to refrain from soliciting our customers during the term of their employment and (ii) to refrain from soliciting our employees during the term of their employment and for a period of 12 months thereafter. The Company's standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants to the extent prohibited by applicable law. Except for the employment offer letter with Ms. Wheeler, as amended in connection with her role transition in December 2022, the employment offer letters do not provide for any severance benefits. In connection with the appointment of Ms. Wheeler as our CEO, we and Ms. Wheeler entered into an amendment to Ms. Wheeler’s existing offer letter agreement. Pursuant to such amendment, if we terminate Ms. Wheeler’s employment without “cause” or if Ms."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b445"], "char_count": 1177, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e7c4d99b867bcbc5ebee2b0947f7f328a6bb7158a33d26a4e6882f5b9dae9a8c", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 445, "char_end": 4965, "char_start": 3788, "fragment_sha256": "7e5e826eac16081bf4ab9b06acfb98ef9c30a64d78bf22043dc32390e531e16d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p140", "passage_kind": "narrative", "passage_sequence": 140, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Wheeler resigns for “good reason” (as each term is defined in her offer letter agreement), subject to her execution of a release of claims, she will be entitled to cash severance equal to one times her annual base salary plus target bonus, 12 months of health benefits continuation, and 12 months accelerated vesting of her outstanding time-based equity awards. AnchorPost-Employment Compensation Severance Plan On December 22, 2022, our Board, upon recommendation of our Compensation Committee, adopted an Executive Severance Plan (the “Severance Plan”), effective as of the same date, under which our executive officers are eligible to receive severance payments and benefits in connection with certain qualifying terminations of their employment, subject to the conditions set forth in the Severance Plan. The Compensation Committee designed the Severance Plan following a survey of the practices of the Company’s peers, a number of which provide similar benefits to some or all of their executive officers. The Severance Plan benefits are comparable to those offered by such peers. The Severance Plan is intended to 38 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b446", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b448"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "62c3d955de9faa86b3799af491ac8969f85f7d6629782173830a8a31ce6ce893", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 446, "char_end": 11, "char_start": 0, "fragment_sha256": "87422ed9b19c0df70e06e205af55706cd6210724bf34f3f896b02d1c38555291", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 448, "char_end": 6, "char_start": 0, "fragment_sha256": "48d992db770b5f6d113b2c50616de210fa686aa1efe667cb7f594730e454fe52", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p141", "passage_kind": "narrative", "passage_sequence": 141, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 44\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b450"], "char_count": 2720, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ce3d061a395dbf2700a9f0496fb5f25bb4426f353ceb59a0bf6a4f5f67b2b8a5", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 450, "char_end": 2720, "char_start": 0, "fragment_sha256": "772305f3ce0dc08a7f66e295ba6246e025ce87d171c8704c2ae21af960b8aa5a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p142", "passage_kind": "narrative", "passage_sequence": 142, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "provide a consistent framework to address covered terminations and help maintain our executive officers’ continued focus on their assigned duties to maximize stockholder value if there is a potential change in control transaction. Each of our 2022 named executive officers other than Mr. Low Ah Kee (who voluntarily resigned as an executive officer on December 1, 2022) and Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023) is eligible to participate in the Severance Plan. The Severance Plan provides that upon our termination of a participant’s employment without “cause”, or upon a resignation by the participant for “good reason”, in either case within the period beginning three months before and ending 12 months following a “change in control” (each as defined in the Severance Plan), the participant shall receive (i) a cash severance payment equal to the participant’s then-current base salary multiplied by 1.5 for our CEO or 1.0 for our other named executive officers, paid in installments over an 18- or 12-month period, respectively, (ii) a pro rata portion of the participant’s target annual cash bonus for the year of termination, paid in installments over 18 months for our CEO or 12 months for our other named executive officers, (iii) payment or reimbursement of the cost of COBRA premiums for the participant and the participant’s dependents for up to 18 months for our CEO or 12 months for our other named executive officers, and (iv) 100% acceleration of the vesting of the participant’s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements. Upon any other termination by us without cause or upon a resignation by an eligible participant for good reason, the participant will receive (i) a cash severance payment equal to the sum of the participant’s then-current base salary plus target bonus, in the case of our CEO, and a cash severance payment equal to the participant’s then-current base salary multiplied by 0.5, in the case of our other named executive officers, paid in installments over 12 months for our CEO and six months for our other named executive officers, (ii) payment or reimbursement of the cost of the COBRA premiums for the participant and the participant’s dependents for up to 12 months, and (iii) acceleration of the vesting of the portion of the participant’s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements and that would otherwise vest within the 12- or six-month period after termination for our CEO or our other named executive officers, respectively (or, 12 months if any NEO other than our CEO has been employed for less than 12 months)."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b450"], "char_count": 3494, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "64ddcc9622a8ae08734db07ba39aa8688adc748b4e58c67f8ec7f5da6caad66e", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 450, "char_end": 6214, "char_start": 2720, "fragment_sha256": "772305f3ce0dc08a7f66e295ba6246e025ce87d171c8704c2ae21af960b8aa5a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p143", "passage_kind": "narrative", "passage_sequence": 143, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "For purposes of the Severance Plan, “cause” has the meaning set forth in the participant’s offer letter agreement, employment agreement or similar agreement with the participant’s employer, or, in the absence of such agreement, or if such agreement does not have a definition of “cause,” means: (a) the participant’s commission of any act that constitutes a felony or any crime involving dishonesty or moral turpitude, (b) the participant’s engaging in any act of fraud or embezzlement, whether or not related to the business of the Company, or any other act of material dishonesty against the Company or any of its Affiliates, (c) any material breach by the participant of any offer letter agreement, employment agreement or similar agreement with the participant’s employer, or of the Employee Confidential Information and Invention Assignment Agreement or similar agreement or of any material written policy of the Company and, if curable, the participant’s failure to cure such breach within 30 days after receiving written notice thereof; (d) the willful and continued failure by the participant to substantially perform the participant’s duties to the Company (other than any such failure resulting from the Participant’s incapacity due to physical or mental illness), after written demand for substantial performance is delivered by the Company that identifies with reasonable specificity the manner in which the Company believes the participant has not substantially performed the participant’s duties, which is not cured within 30 days after notice of such failure has been given to the participant by the Company; (e) the willful engaging by the participant in misconduct or gross neglect (including any conduct that is in violation of the written employee workplace policies of the Company) that is injurious to the Company, monetarily, in reputation or otherwise; or (f) any other intentional act causing material damage to the Company’s business, property or reputation. For purposes of the Severance Plan, “good reason” has the meaning set forth in the participant’s offer letter agreement, employment agreement or similar agreement with the participant’s employer, or, in the absence of such agreement, or if such agreement does not have a definition of “good reason,” means the occurrence of any of the following events without the participant’s written consent: (a) a reduction by the Company or its successor of more than 20% in the participant’s rate of annual base salary, unless such reduction is in connection with and proportional to reductions to the base salary reductions of other executives of the Company; (b) a material reduction in the participant’s job responsibilities, duties or authority (provided that a mere change in title to an employment position that is substantially similar to the prior employment position shall not constitute a material reduction in job responsibilities, duty or authority); or (c) a change in the geographic location of the Participant’s principal place of employment to any location more than 50 miles from the Participant’s current principal place of employment. Notwithstanding the foregoing, “good reason” will not exist for purposes of the Severance Plan unless, within 30 days after the initial occurrence of a circumstance that the participant believes in good faith to constitute good reason, the Participant delivers written notice to the Company setting forth with Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 39"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b451", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b453"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4b54008f38718fd24e8c1a8f1ee41a68146a70a33a59e30e432146a755ab31e9", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": 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"table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p145", "passage_kind": "narrative", "passage_sequence": 145, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "specificity such circumstance the Participant believes in good faith constitutes good reason, the Company fails to cure any claimed event of good reason (if capable of cure) within 30 days after receipt of such notice, and the participant actually terminates their employment no later than 30 days following the expiration of the Company’s cure period. To receive the severance, the participant must execute and deliver a release of claims in favor of the Company and continue to comply with restrictive covenants applicable to the participant. We are not obligated to provide tax reimbursements or “gross-ups” to any of our executive officers, including our named executive officers, in the event that the compensation and benefits received under the Severance Plan or otherwise would result in the imposition of excise taxes on the named executive officer under Section 4999 of the Internal Revenue Code. We believe that having in place reasonable and competitive post-employment compensation arrangements, including in the event of a change in control of the Company, is essential to attracting and retaining highly-qualified executive officers. The Compensation Committee does not consider the specific amounts payable under the post-employment compensation arrangements when determining our named executive officers’ compensation. We do believe, however, that these arrangements are necessary to offer competitive compensation packages. Arrangements with Andrew Low Ah Kee Prior to his resignation from employment, we were party to a letter agreement with Mr. Low Ah Kee, dated as of January 31, 2022, providing for 100% accelerated vesting of his outstanding equity awards subject solely to service-based vesting conditions upon his resignation from the Company for “good reason” or termination without “cause” on or with or within 12 months following a change in control. As discussed above, Mr. Low Ah Kee’s employment with the Company has terminated, and he is continuing as an advisor through June 2023. In addition, the PRSU award agreement with Mr. Low Ah Kee provided that, in the event of certain involuntary terminations of employment by Mr. Low Ah Kee prior to the time that the performance-based vesting criteria of his PRSU award has been satisfied, the PRSU award would remain outstanding and eligible to vest as to performance when the applicable performance-based vesting criteria are satisfied, provided they are satisfied within 60 days after such termination of employment. In the event such performance-based vesting criteria are not satisfied by the end of such 60-day period, the PRSU award will expire. In the event of a change in control, the performance-based vesting criteria will be determined by reference to the value of shares paid for all of the Company's common stock or, if the change in control is structured as a stock-for-stock acquisition, the value of the acquirer's shares shall be valued based on the 60-day VWAP ending on and including the trading day occurring on the day prior to the consummation of such change in control. The TRSU and PRSU awards held by Mr. Low Ah Kee were forfeited upon his termination of employment without payment of consideration. AnchorHedging and Pledging of Securities We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company's securities. Our directors, officers and employees are, therefore, prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b455"], "char_count": 1084, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5c4b039326d7854295cfe7c5fe040e75d5f2334718e7f78ece71cb78982e6220", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 455, "char_end": 4684, "char_start": 3600, "fragment_sha256": "12352439751297467670f73588bb3dd2635d3efe3fbc5fb6965d3e543f6e56d9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p146", "passage_kind": "narrative", "passage_sequence": 146, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Our Insider Trading Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities (whether they are granted to such individual by the Company as part of such person's compensation or otherwise held, directly or indirectly, by such individual), or that may cause a director, officer or employee to no longer have the same objectives as the Company’s other stockholders. 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Within five years of the establishment of the guidelines (or becoming subject to the guidelines, if later), our CEO is required to hold the lesser of vested shares of the Company’s common stock equal to six times annual base salary, or 450,000 shares; other executive officers are required to hold the lesser of vested shares of the Company’s common stock equal to three times annual base salary, or 225,000 shares; and directors are required to hold the lesser of shares of the Company’s common stock equal to five times their annual cash retainer or 60,000 shares. Only issued shares are counted toward satisfaction of the ownership requirement. Accordingly, unvested equity awards (including both time- and performance-based) and unexercised stock options, if any, do not count toward satisfying the executive stock ownership requirement. AnchorClawbacks While our CEO and CFO are subject to any recovery rights that are provided under applicable laws, including the Sarbanes-Oxley Act, we have not yet adopted a compensation recovery policy as required under the Dodd-Frank Act. We are reviewing the final clawback rule adopted by the SEC that implements the applicable provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Nasdaq’s related proposed listing standard, in each case relating to recoupment of incentive-based compensation. We will implement a clawback policy in accordance with the new listing standard when the new listing standard becomes final. AnchorTax and Accounting Considerations The Compensation Committee takes the applicable tax and accounting requirements into consideration in designing and overseeing our executive compensation program. Deductibility of Executive Compensation For federal income tax purposes, publicly-traded companies may be prohibited under Section 162(m) of the Code from deducting employee compensation in excess of $1 million paid to their chief executive officer, chief financial officer, any other executive officer whose total compensation is required to be reported to stockholders under the Exchange Act by reason of such individual being among the three highest compensated executive officers for the tax year and any executive officer who was subject to the deduction limit in any tax year beginning after December 31, 2016. Even if Section 162(m) may limit the compensation deduction, our Board and the Compensation Committee believe our compensation policies and practices should be designed to help us meet our established goals and objectives. While the Compensation Committee will consider the impact of the Section 162(m) deduction limitation, it intends to continue to compensate our executive officers, including our named executive officers, in a manner that is in the best interest of our stockholders and reserves the right to make compensation decisions that may not be deductible under Section 162(m) where the Compensation Committee determines the compensation to be appropriate and in the best interests of the Company and our stockholders. Accounting for Stock-Based Compensation The Compensation Committee takes accounting considerations into account in designing compensation plans and arrangements for our executive officers and other employees. Chief among these is the Financial Accounting Standard Board’s Accounting Standards Codification, Compensation – Stock Compensation (Topic 718) (“ASC Topic 718”), the standard which governs the accounting treatment of certain stock-based compensation. Among other things, ASC Topic 718 requires us to record a compensation expense in our income statement for all equity awards granted to our executive officers and other employees."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b460"], "char_count": 461, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c9c0a84c6a41b9810b14ec0611ae008593c9a38c14b1c5f5ef3af5f7854b04b1", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 460, "char_end": 4283, "char_start": 3822, "fragment_sha256": "0ece09ca9a56cda2d69f4d6f8a3adc451087eab511d48854bf901bc6ff534261", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p149", "passage_kind": "narrative", "passage_sequence": 149, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "This compensation expense is based on the grant date “fair value” of the equity award and, in most cases, will be recognized straight-line over the award’s requisite service period (which, generally, will correspond to the award’s vesting schedule). This compensation expense is also reported in the compensation tables below, even though recipients may never realize any value from their equity awards. Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 41"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b461", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b463", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b465", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b466", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b468"], "char_count": 1249, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "efb57fb9a2def2aee62058281ad6731f59dbb9054bdfb1decedaeadf50fb8bcc", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 461, "char_end": 11, "char_start": 0, "fragment_sha256": "2c8ee1017330f451c8a3948cd557a813c503856e769dbf0ae4f7612c89325eeb", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 463, "char_end": 6, "char_start": 0, "fragment_sha256": "90d98349700b5e2e1197a3b8f070e658c4f3c44ce0798f098682eeffca507be1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 465, "char_end": 1207, "char_start": 0, "fragment_sha256": "8ef3fde5f105d7f0a43752b2933bc172a692ce90ed1a259c13a1e34b47234e52", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 466, "char_end": 11, "char_start": 0, "fragment_sha256": "f7329ddddf7546db588673be7effe03c80c9cf47c906f25a1edcdd6594a9cf0f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 468, "char_end": 6, "char_start": 0, "fragment_sha256": "465e4d68c778935aa4cfec55cf92ca235bef07cfe395cbf4713cfb9b85128779", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p150", "passage_kind": "narrative", "passage_sequence": 150, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s101", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 47\n\nAnchor\n\nAnchorCompensation Committee Report The following Compensation Committee Report is not “soliciting material,” is not deemed “filed” with the SEC and is not to be incorporated by reference in any filing of the Company under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, other than in Opendoor’s Annual Report on Form 10-K where it shall be deemed to be furnished, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. The Compensation Committee has reviewed and discussed the section captioned “Compensation Discussion and Analysis” as required by Item 402(b) of Regulation S-K and contained within this proxy statement with management. Based on such review and discussions, the Compensation Committee approved the “Compensation Discussion and Analysis” section to be included in our proxy statement and incorporated into our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Submitted by the members of the Compensation Committee: Glenn Solomon, Compensation Committee Chair Adam Bain, Compensation Committee Member 42 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 48\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b472"], "char_count": 209, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4c4cebb98127a36c0f82b7f15a1ce06797ce1a00ae670ce5b229810a3c5ff30f", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorSummary Compensation 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350,000 |\n| ​ | 2021 | ​ | ​ | ​350,000 | ​ | ​ | ​150,000 | ​ | ​ | ​112,546,679 | ​ | ​ | ​382 | ​ | ​ | ​113,047,061 | | |\n| Daniel Morillo(9) Former Chief Investment Officer | ​ | ​ | 2022 | ​ | ​ | 350,000 | ​ | ​ | 1,150,000 | ​ | ​ | ​— | ​ | ​ | — | ​ | ​ | 1,500,000 |\n| ​ | 2021 | ​ | ​ | ​345,139 | ​ | ​ | ​2,650,000 | ​ | ​ | ​— | ​ | ​ | ​— | ​ | ​ | ​2,995,139 | | |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b474"], "char_count": 1784, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "38ee96ec88a0144af0a465ce92dab777e90da16ee14b1eeba458fc9615b459aa", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], 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Ms. Wheeler, Mr. Wu, Mr. Low Ah Kee and Mr. Morillo did not receive any equity grants during fiscal year 2022."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b482"], "char_count": 599, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a11a6042d4360f4fa70156f3e68df8d62696a92ebe37381eb9b9252fd274fde6", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 482, "char_end": 481, "char_start": 0, "fragment_sha256": "27e65c36af277068de5a035b30f61aa361357cbe55eee42b1508169e64d64f28", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Grants of Plan-Based Awards"], "table_index": 24, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p156", "passage_kind": "table", "passage_sequence": 156, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s104", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b482", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Name | ​ | ​ | Grant Date | ​ | ​ | Stock Awards: Number of Shares of Stock or Units (#) | ​ | ​ | ​Grant Date Fair Value of Stock Awards ($)(1) |\n| Christina Schwartz | ​ | ​ | 02/09/2022(2) | ​ | ​ | 54,907 | ​ | ​ | 576,524 |\n| | ​ | ​ | 02/09/2022(3) | ​ | ​ | 54,907 | ​ | ​ | 576,524 |\n| | ​ | ​ | 08/24/2022(4) | ​ | ​ | 77,519 | ​ | ​ | 358,138 |\n| | ​ | ​ | 12/20/2022(5) | ​ | ​ | 250,000 | ​ | ​ | 315,000 |\n| Sydney Schaub | ​ | ​ | 10/07/2022(6) | ​ | ​ | 1,558,441 | ​ | ​ | 4,379,219 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b483"], "char_count": 1544, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "f4539bb344354c3001c07f40dbd3acc17f997572d276661126277216e42d7ee4", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Grants of Plan-Based Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 483, "char_end": 1544, "char_start": 0, "fragment_sha256": "8dbc6abb24a849d4e1a9052aa5d7d62cf1f8e183009a3236f7372646efadb388", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Grants of Plan-Based Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p157", "passage_kind": "narrative", "passage_sequence": 157, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s104", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(1) Amounts listed represent the grant date fair value of awards, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "44 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 50\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b490"], "char_count": 316, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "abb6d66fccd7e891b6e86f07650529638d2b3a1e178ccda7322412535ad88e28", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The figures in the table below show outstanding equity awards held by each of our named executive officers as of December 31, 2022. For awards granted prior to the completion of the Business Combination, the number of shares subject to the awards have been adjusted to reflect the impact of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b491"], "char_count": 3749, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "77eb730df923ddd42c9eb523259be32aa430ef93f25afa5abcba26d5fdff62b2", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b491", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | ​ | ​ | Option Awards | ​ | ​ | Stock Awards | | | | | | | | | | | | | | | | | | | | | |\n| Name | ​ | ​ | Grant Date | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Exercisable | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Unexercisable | ​ | ​ | Option Exercise Price ($) | ​ | ​ | Option Expiration Date | ​ | ​ | Number of Shares or Units of Stock That Have Not Vested (#) | ​ | ​ | Market Value of Shares or Units of Stock That Have Not Vested ($)(1)​ | ​ | ​ | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | ​ | ​ | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1) |\n| Carrie Wheeler | ​ | ​ | 09/03/2020(2) | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 1,528,578 | ​ | ​ | 1,773,150 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/17/2020(3) | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 404,385 | ​ | ​ | 469,087 | ​ | ​ | — | ​ | ​ | — |\n| Christina Schwartz | ​ | ​ | 09/28/2016 | ​ | ​ | 59,658 | ​ | ​ | — | ​ | ​ | $0.97 | ​ | ​ | 09/27/2026 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 06/12/2017 | ​ | ​ | 4,043 | ​ | ​ | — | ​ | ​ | $1.02 | ​ | ​ | 6/11/2027 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 06/26/2019(4) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 20,220 | ​ | ​ | 23,455 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 06/10/2020(5) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | 10,767 | ​ | ​ | 12,490 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 04/15/2021(6) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | 6,928 | ​ | ​ | 8,036 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 04/15/2021(7) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | 13,076 | ​ | ​ | 15,168 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 04/15/2021(8) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | 124,000 | ​ | ​ | 143,840 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 02/09/2022(9) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 46,672 | ​ | ​ | 54,140 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 02/09/2022(10) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 41,181 | ​ | ​ | 47,770 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 08/24/2022(11) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 77,519 | ​ | ​ | 89,922 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/20/2022(12) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | 250,000 | ​ | ​ | 290,000 | ​ | ​ | — | ​ | ​ | — |\n| Sydney Schaub | ​ | ​ | 10/07/2022(13) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 1,558,441 | ​ | ​ | 1,807,792 | ​ | ​ | — | ​ | ​ | — |\n| Eric Wu | ​ | ​ | 02/06/2020(14) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 298,255 | ​ | ​ | 345,976 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 09/03/2020(14) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 253,554 | ​ | ​ | 294,123 | ​ | ​ | — | ​ | ​ | — |\n| Andrew Low Ah Kee | ​ | ​ | 3/9/2021(15) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 2,321,176 | ​ | ​ | 2,692,564 | ​ | ​ | — | ​ | ​ | — |\n| ​ | 3/9/2021(16) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | ​— | ​ | ​ | — | ​ | ​ | 808,771 | ​ | ​ | 938,174 | | |\n| Daniel Morillo | ​ | ​ | 12/17/2020(2) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 404,385 | ​ | ​ | 469,087 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/17/2020(3) | ​ | ​ | | ​ | ​ | | ​ | ​ | ​ | ​ | ​ | | ​ | ​ | 849,210 | ​ | ​ | 985,084 | ​ | ​ | — | ​ | ​ | — |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b492"], "char_count": 2724, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "797d4c3097ad5ffba8b15831473734ebe95b0ee4d9cf16131b4c095b40829d8c", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 492, "char_end": 2724, "char_start": 0, "fragment_sha256": "9deb1f8edab671c9f5d90a95eb6ba559a1610a964f5dbd7dda135e6a2ecde66f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p161", "passage_kind": "narrative", "passage_sequence": 161, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s105", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(1) The amounts in this column were determined based on the closing market price of the Company’s common stock on December 30, 2022 of $1.16. These amounts do not reflect the actual economic value that may be realized by the named executive officer. (2) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting condition was satisfied as to 25% of the award on September 3, 2021, the first anniversary of Ms. Wheeler’s employment start date, and 75% of the award vesting in substantially equal quarterly installments over a three-year period thereafter. (3) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting conditions have a vesting commencement date of September 3, 2023, the third anniversary of Ms. Wheeler’s employment start date, and vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary. (4) The TRSUs are subject to a four-year vesting schedule, with 1/16th of the units subject to the award vesting in successive equal quarterly installments following April 15, 2019, subject to continued employment. (5) The TRSUs are subject to a four-year vesting schedule, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following March 15, 2020, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to continued employment. (6) The TRSUs are subject to a four-year vesting schedule, with 1/16th of the units subject to the award vesting in successive equal quarterly installments following March 15, 2021, subject to continued employment. (7) The TRSUs are subject to a four-year vesting schedule, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following March 15, 2021, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to continued employment. (8) The TRSU award is subject to a three-year vesting schedule with 25% of the units subject to the award vesting January 15, 2023, and 1/8th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b493", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b494", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b496", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b498"], "char_count": 2988, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "032de6a7983dba5d88a95ca37e82f1253e88a2ef4697864409f54291fc4337bb", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 493, "char_end": 57, "char_start": 0, "fragment_sha256": "8904406fe611bdae4b92ba90298e0dc5a1b9da549ddda42286876e8ddd953b29", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 494, "char_end": 11, "char_start": 0, "fragment_sha256": "c5f0b83a5cb6434b396430defb1e886b5afaaa6f375b445552692bd7a2cf53aa", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 496, "char_end": 6, "char_start": 0, "fragment_sha256": "dc7e8d036b8f11e84bcc4c8b098c81b8d7a5322500a8b9b3aa2723b8a66f4bde", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 498, "char_end": 2908, "char_start": 0, "fragment_sha256": "981c2581336b402be63313b9a8873df393dc829b0c1de1ddf6c135ceb92b4262", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2022 Fiscal Year End"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p162", "passage_kind": "narrative", "passage_sequence": 162, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s105", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 45\n\nEnd Page 51\n\nAnchor\n\n(9) The TRSUs vest over four years, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following January 15, 2022, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to continued employment. (10) The TRSUs vest over two years, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following June 15, 2022, subject to continued employment. (11) The TRSUs are subject to a two-year vesting schedule with 25% of the total number of units subject to the award vesting on the six-month anniversary of December 15, 2022 and 1/8th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment with us on each such vesting date. (12) The TRSUs are subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to continued employment. (13) The TRSUs are subject to a three-year vesting schedule with 33% of the total number of units subject to the award vesting on the one-year anniversary of the vesting commencement date and 1/12th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment. (14) The TRSUs will vest only if both a service-based condition and a liquidity event condition are satisfied, provided that delivery of the shares may be delayed in accordance with the terms of the 2014 Plan and the applicable grant agreements. The liquidity event condition was satisfied upon the effective date of the Company’s registration statement filed under the Securities Act for the sale of its common stock. The service-based condition will be satisfied in 16 successive equal quarterly installments following the vesting commencement date. (15) The TRSUs are subject to a four-year vesting schedule with 25% of the total number of units subject to the award having vested on November 15, 2021, the first anniversary of his vesting commencement date, and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment. (16) The PRSUs will vest upon the satisfaction of performance-based vesting conditions. The performance-based vesting conditions will be satisfied, subject to Mr. Low Ah Kee’s continued employment with us through each applicable vesting date, as to 1/5th of the PRSUs upon the achievement of each of five predetermined share price milestones based on the 60-day volume weighted-average closing price of our publicly traded class of common stock, or if earlier, based on the per share consideration received in connection with a Change in Control (as defined in the Low Ah Kee Agreement). 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The annual cash compensation amounts are payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the quarterly payment for each non-employee director is prorated for any partial quarter of service by such non-employee director. • Annual Board Service Retainer: • All Eligible Directors: $50,000 • Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) • Annual Committee Member Service Retainer: • Member of the Audit Committee: $10,000 • Member of the Compensation Committee: $7,500 • Member of the Nominating and Corporate Governance Committee: $5,000 • Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): • Chair of the Audit Committee: $20,000 • Chair of the Compensation Committee: $15,000 • Chair of the Nominating and Corporate Governance Committee: $10,000 Prior to the start of each fiscal year, a non-employee director may elect to receive 100% of their annual cash compensation for the next fiscal year as TRSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average closing price per share of our common stock over the 20 trading days ending on the last trading day of the month preceding the month in which the TRSU grant is made (the “Share Price”). 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Each such initial grant would vest in a series of equal annual installments on the first, second and third anniversary of the date of grant, provided in each case that the non-employee director continued to be a non-employee director on such vesting date. On May 25, 2022, the date of our 2022 annual meeting of stockholders, the non-employee directors serving at that time received their annual TRSU grant for a number of shares of common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share. Each such annual grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that the non-employee director continues to be a non-employee director on such vesting date. 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"section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s112", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b533", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Name | ​ | ​ | Fees Earned or Paid in Cash ($)(1) | ​ | ​ | Stock Awards ($)(2) | ​ | ​ | Total ($) |\n| Adam Bain | ​ | ​ | 67,500 | ​ | ​ | 165,899 | ​ | ​ | 233,399 |\n| Cipora Herman | ​ | ​ | 70,000 | ​ | ​ | 165,970 | ​ | ​ | 235,970 |\n| Jonathan Jaffe | ​ | ​ | 55,000 | ​ | ​ | 163,986 | ​ | ​ | 218,986 |\n| Pueo Keffer | ​ | ​ | 60,000 | ​ | ​ | 165,695 | ​ | ​ | 225,695 |\n| Jason Kilar | ​ | ​ | 60,000 | ​ | ​ | 165,695 | ​ | ​ | 225,695 |\n| John Rice | ​ | ​ | 55,000 | ​ | ​ | 165,552 | ​ | ​ | 220,552 |\n| Glenn Solomon | ​ | ​ | 65,000 | ​ | ​ | 165,827 | ​ | ​ | 230,827 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b534"], "char_count": 1804, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8b184432d9719efe5b9b56128a4389d54e9fe82a7e07c52cf9feb16c11140ffc", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Director Compensation Table"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 534, "char_end": 1804, "char_start": 0, "fragment_sha256": "3ac45c777250940ec65326253bef9ea06f24133a239e2c7c8705e13c04b06d71", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Director Compensation Table"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p175", "passage_kind": "narrative", "passage_sequence": 175, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s112", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(1) The amount of the cash retainers that our non-employee directors (other than Mr. Jaffe) elected to receive in the form of TSRUs is reflected in the “Fees Earned or Paid in Cash” column, and the grant date fair value of the TSRUs granted in satisfaction of such elections on February 16, 2022 that was greater than the amount of the cash retainers to be paid in the form of TSRUs, if any, and is reflected in the “Stock Awards” column. The number of TRSUs granted to each non-employee director in lieu of cash retainers for 2022, and the corresponding aggregate grant date fair value of such TSRUs, is as follows: Adam Bain, 6,181 TRSUs, $69,413; Cipora Herman, 6,410 TRSUs, $71,984; Pueo Keffer, 5,495 TRSUs, $61,709; Jason Kilar, 5,495 TRSUs, $61,709; John Rice, 5,037 TRSUs, $56,566; and Glenn Solomon, 5,952 TRSUs, $66,841. (2) Amounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the non-employee director. For additional information regarding the stock-based awards granted to our named executive officers, please see Note 14, Share-Based Awards to the consolidated financial statements included in our 2022 Annual Report. Amounts listed include the annual TRSU award for each non-employee director and, for each non-employee director who elected to receive their cash compensation in the form of TRSUs, the grant date fair value of the TSRUs granted in satisfaction of such elections that was greater than the amount of the cash retainers. The table below shows the aggregate number of unvested TRSU awards held as of December 31, 2022 by each non-employee director."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b535"], "char_count": 341, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "47d1d175649e1874b11619f209d681cc118b39c651c98347d03f49a84e26c0fb", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Director Compensation Table"], "items": [], "locators": [{"artifact_id": 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"fragment_sha256": "de48a591295beb8c9a77a6b1b534ab1c4661eaaf5d61c627109619d56d41c539", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2022 Director Compensation Table"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p177", "passage_kind": "narrative", "passage_sequence": 177, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s112", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 49\n\nEnd Page 55\n\nAnchor\n\nAnchorCEO Pay Ratio As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are required to disclose the ratio of the annual total compensation of our Chief Executive Officer to the annual total compensation of our median compensated employee, using the required calculations. The pay ratio included in this information is a reasonable estimate calculated in a manner that is intended to be consistent with Item 402(u) of Regulation S-K. As of December 31, 2022, our employee population consisted of 2,444 individuals. Employees in Canada and India (23 and 103 employees in Canada and India, respectively) were excluded from our employee population, as permitted under SEC rules, as they represented less than 5% of our employee population. We excluded all of our employees in these two jurisdictions. For purposes of this pay ratio, both the CEO’s and the median employee’s annual total compensation were calculated in accordance with the requirements of the Summary Compensation Table. To identify the median employee for fiscal 2022, we looked at our employee population as of December 31, 2022 and used a consistently applied compensation measure (“CACM”) to all of the employees included in the calculations. Our CACM consisted of total compensation calculated in accordance with Item 402(c) of Regulation S-K as obtained from our internal payroll systems. During 2022, Ms. Wheeler served as our CEO during the period from December 1, 2022 through December 31, 2022. In a CEO transition year, the SEC rules provide two options in calculating the CEO pay ratio: combining the two CEOs’ compensation as shown in the Summary Compensation Table or using the individual serving as CEO on the date we selected to identify the median employee (our determination date of December 31, 2022) and annualize the compensation. As permitted by SEC rules, we selected Ms. Wheeler as our CEO since she was CEO on December 31, 2022. For purposes of determining our pay ratio, we determined Ms. Wheeler’s annual total compensation for 2022 was $750,000, which, as required by SEC rules, includes her annualized base salary for 2022 at the rate in effect following her promotion to CEO. To calculate the 2022 pay ratio, we calculated the components of the median employee’s compensation for 2022 in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K. For 2022, our median employee’s annual total compensation was $82,379.79. Based on this information, our 2022 Chief Executive Officer to median employee pay ratio was approximately 9.00 to 1.00. This pay ratio disclosure is a reasonable estimate. Because the SEC rules for identifying the median employee and calculating the pay ratio permit companies to use various methodologies and assumptions, to apply certain exclusions and to make reasonable estimates that reflect their employee populations and compensation practices, the pay ratio reported by other companies may not be comparable with the pay ratio that we have reported. 50 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b542", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b544", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b546"], "char_count": 27, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "30df283f065574b3accd45dfe49c94c25ee5c70f622c5cbf5b779f9b05782d6d", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": 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by) Current CEO ($) | ​ | ​ | Compensation Actually Paid to (Lost by) Former CEO ($) | ​ | ​ | Average Summary Compensation Table Total for Non-CEO NEOs ($) | ​ | ​ | Average Compensation Actually Paid to Non- CEO NEOs ($) | ​ | ​ | Value of Initial Fixed $100 Investment Based On: | ​ | ​ | Net Income (Loss) ($) (In millions) | | | |\n| ​ | Total Stockholder Return ($) | ​ | ​ | Peer Group Total Stockholder Return ($) | ​ | | | | | | | | | | | | | | | | | | | | | | |\n| 2022 | ​ | ​ | $383,334 | ​ | ​ | 325,000 | ​ | ​ | $(33,760,155) | ​ | ​ | (191,665,693) | ​ | ​ | $2,209,789 | ​ | ​ | $(16,981,618) | ​ | ​ | $4 | ​ | ​ | $77 | ​ | ​ | $(1,353) |\n| 2021 | ​ | ​ | $— | ​ | ​ | 112,333,540 | ​ | ​ | $— | ​ | ​ | (95,777,677) | ​ | ​ | $24,532,144 | ​ | ​ | $4,899,835 | ​ | ​ | $47 | ​ | ​ | $112 | ​ | ​ | $(662) |\n| 2020 | ​ | ​ | $— | ​ | ​ | 370,240,992 | ​ | ​ | $— | ​ | ​ | 396,723,976 | ​ | ​ | $10,350,414 | ​ | ​ | $32,491,540 | ​ | ​ | $73 | ​ | ​ | $100 | ​ | ​ | $(253) |"} 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The calculation of compensation actually paid for purposes of this table includes point-in-time fair values of stock awards and these values will fluctuate based on our stock price, various accounting valuation assumptions and projected performance related to our performance awards. 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| ​ | 2021 | ​ | ​ | 2020 | | | | | | | | | | | | |\n| Adjustments To Total Compensation | ​ | ​ | CEO | ​ | ​ | Former CEO | ​ | ​ | Average Non- CEO NEOs | ​ | ​ | Former CEO | ​ | ​ | Average Non- CEO NEOs | ​ | ​ | Former CEO | ​ | ​ | Average Non- CEO NEOs |\n| Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for year indicated | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,551,351) | ​ | ​ | (111,598,143) | ​ | ​ | (24,167,936) | ​ | ​ | (370,051,408) | ​ | ​ | (10,012,145) |\n| Increase based on ASC 718 Fair Value of awards granted during year indicated that remain unvested as of the end of the indicated year(1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 572,406 | ​ | ​ | 64,558,478 | ​ | ​ | 11,832,656 | ​ | ​ | 391,810,043 | ​ | ​ | 19,904,276 |\n| Increase (deduction) for awards granted during the year indicated that vested during the year indicated based on ASC 718 Fair Value at vesting date(1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,842 | ​ | ​ | 19,762,150 | ​ | ​ | 5,537,345 | ​ | ​ | 4,724,349 | ​ | ​ | 61,546 |\n| Increase (deduction) for awards granted during prior year(s) that were outstanding and unvested as of end of the indicated year, determined based on change in ASC 718 Fair Value from the end of the p… | ​ | ​ | (25,998,352) | ​ | ​ | (7,421,831) | ​ | ​ | (14,604,217) | ​ | ​ | (165,137,966) | ​ | ​ | (8,760,674) | ​ | ​ | — | ​ | ​ | 11,441,499 |\n| Increase (deduction) for awards granted during a prior year that vested during the indicated year, determined based on change in ASC 718 Fair Value from the end of the prior year to the vesting date(… | ​ | ​ | (8,145,137) | ​ | ​ | (14,858,822) | ​ | ​ | (3,629,087) | ​ | ​ | (15,695,736) | ​ | ​ | (3,354,547) | ​ | ​ | — | ​ | ​ | 1,459,244 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b580", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b581", 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null, "text": "Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 53\n\nEnd Page 59\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b585"], "char_count": 964, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cc8ebf370f6e82400bd92475fc06ab2c6a4341cc43a696dbf3cc2a853c398447", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Pay Versus Performance", "Pay Versus Performance Table", "Adjustments from Total Compensation to Compensation Actually Paid"], "items": [], "locators": 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"source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b585", "text": "| | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | ​ | ​ | 2022 | ​ | ​ | 2021 | ​ | ​ | 2020 | | | | | | | | | | | | |\n| Adjustments To Total Compensation | ​ | ​ | CEO | ​ | ​ | Former CEO | ​ | ​ | Average Non- CEO NEOs | ​ | ​ | Former CEO | ​ | ​ | Average Non- CEO NEOs | ​ | ​ | Former CEO | ​ | ​ | Average Non- CEO NEOs |\n| Deduction for awards granted during a prior year that were forfeited during the indicated year, determined based on ASC 718 Fair Value from the end of the prior year(1) | ​ | ​ | — | ​ | ​ | (169,710,040) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (719,153) | ​ | ​ | — | ​ | ​ | (713,294) |\n| Total adjustments | ​ | ​ | (34,143,489) | ​ | 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The Monte Carlo simulations incorporate various assumptions, including expected stock price volatility, contractual term, dividend yield, and stock price at valuation date. The Company estimates the volatility of common stock on the valuation date based on the weighted-average historical stock price volatility of comparable publicly-traded companies. As the Company has no history of dividend payments and has not declared any prospective dividends, a 0% dividend yield was assumed. The fair value of TRSUs and PRSUs on vest date is determined by multiplying the number of shares vested by the share price on the date of vesting. The fair value of options as of the applicable grant date, year-end or vesting date(s) is calculated using the Black-Scholes option-pricing valuation model. The Black-Scholes model incorporates various assumptions, including the fair value of the common stock price underlying the option, expected stock price volatility implied by the price of the Company’s publicly traded call options in its common stock, expected life calculated using the simplified method of the midpoint between the vesting period and the contractual term, and expected dividend yield of $0. 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(2) Consists of the 2022 Inducement Award Plan (the “Inducement Plan”). (3) Consists of 5,323,358 outstanding restricted stock units under the 2014 Plan and 47,665,330 outstanding restricted stock units under the 2020 Plan. (4) Consists of 10,665,385 outstanding options to purchase stock under the 2014 Plan and 46,875 outstanding options under the 2020 Plan. (5) Consists of 1,558,441 outstanding restricted stock units under the Inducement Plan. (6) As of December 31, 2022, the weighted-average exercise price of outstanding options under the 2014 Plan was $2.0754 and the weighted-average exercise price of outstanding options under the 2020 Plan was $15.0000. (7) No additional awards will be granted under the 2014 Plan and, as a result, no shares remain available for issuance for new awards under the 2014 Plan. The number of shares authorized under our 2020 Plan will increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2030, by an amount equal to the lesser of (A) a number equal to the excess (if any) of (1) 5% of the aggregate number of shares of Common Stock outstanding on the final day of the immediately preceding fiscal year over (2) the number of shares reserved for issuance under the 2020 Plan as of such date and (B) such smaller number of shares as determined by our Board. The number of shares authorized under our ESPP will increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2030, by an amount equal to the lesser of (A) 1% of the shares of Common Stock outstanding as of the last day of the immediately preceding fiscal year and (B) such smaller number of shares of Common Stock as determined by our Board; provided, however, that no more than 54,385,060 shares of Common Stock may be issued under the ESPP."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b597"], "char_count": 327, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "372e606081993957eebda09c167c423425626422c93212421b36d4f187a3f22f", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 597, "char_end": 327, "char_start": 0, "fragment_sha256": "10051d3d9f6f1cab5d8199943494562783a827edb69db137d43847810004352a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p193", "passage_kind": "narrative", "passage_sequence": 193, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s121", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "In July 2022 our Compensation Committee adopted the 2022 Inducement Award Plan. Pursuant to applicable stock exchange rules, stockholder approval of the Inducement Plan is not required as a condition of the effectiveness of the Inducement Plan. A description of the principal features of the Inducement Plan is set forth below."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b599"], "char_count": 630, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "217d103c67c5b816760e86c80646a80031d07c08cb5c1b49ea9fe343a3b50a3b", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 599, "char_end": 630, "char_start": 0, "fragment_sha256": "4f3ae1997d68e24eadf2624cebbbc437805356750e05754e11b6d5890e740406", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p194", "passage_kind": "narrative", "passage_sequence": 194, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s122", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Only certain prospective employees of the Company are eligible to participate in the Inducement Plan. The Inducement Plan is administered by our Compensation Committee. The plan administrator has the authority to grant and set the terms of all awards under, make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of, the Inducement Plan, subject to its express terms and conditions. Awards must be approved by the Compensation Committee or a majority of our independent directors and the authority to grant awards under the Inducement Plan may not be delegated."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b601", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b602", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b603", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b605", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b607"], "char_count": 1489, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "16b497979ea6417ab98e3ef5befbc7fc91145e25e43175a91b02c8fbd91db6b9", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 601, "char_end": 250, "char_start": 0, "fragment_sha256": "636e32d500fa8be829bb940b879357bcc3e8890cc661388cb925b376a9339bf5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 602, "char_end": 57, "char_start": 0, "fragment_sha256": "072435b9d9eeae78530a0790d81f620b26ef6d61d444cd778e702bf47e1fef11", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 603, "char_end": 11, "char_start": 0, "fragment_sha256": "c000699d01d8c70551f69f9c9df03cbfbc7239d33009742be2c55280d2dbec2c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 605, "char_end": 6, "char_start": 0, "fragment_sha256": "8bbf689c0e2a6f7450212dd0b62cf77245d80b433470b05247608adc3ff5b662", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 607, "char_end": 1157, "char_start": 0, "fragment_sha256": "38a86e6b44a5ec15d914c0010e46d438989720a76bee034b08f5134ada8aa753", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p195", "passage_kind": "narrative", "passage_sequence": 195, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s123", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The maximum number of shares of common stock authorized for issuance under the Inducement Plan is 31,200,000 shares (the “Inducement Plan Share Limit”). Shares issued under the Inducement Plan may be treasury shares or authorized but unissued shares.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 55\n\nEnd Page 61\n\nAnchor\n\nThe following types of shares are added back to the available share limit under the Inducement Plan: (1) shares subject to awards that are forfeited, expire or are settled for cash; and (2) shares repurchased by the Company at the same price paid by a participant pursuant to the Company’s repurchase right with respect to restricted stock awards. However, the following types of shares are not added back to the available share limit under the Inducement Plan: (a) shares subject to a stock appreciation right (“SAR”) that are not issued in connection with the stock settlement of the SAR on its exercise; (b) shares purchased on the open market with the cash proceeds from the exercise of options; and (c) shares tendered or withheld to satisfy grant or exercise price or tax withholding obligations associated with an award. Awards granted under the Inducement Plan upon the assumption of, or in substitution for, awards authorized or outstanding under a qualifying equity plan maintained by an entity with which the Company enters into a merger or similar corporate transaction, will not reduce the shares authorized for grant under the Inducement Plan."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b609"], "char_count": 3602, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fdd0098d87981194a8a179407dae333bb8f79beedc5964255ac5f261afee11e7", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 609, "char_end": 3602, "char_start": 0, "fragment_sha256": "bc2f241977ba6a16133e921c40580ea4eaae52fef01991f6f684be5792974346", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p196", "passage_kind": "narrative", "passage_sequence": 196, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s124", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Inducement Plan provides for the grant of stock options, including nonqualified stock options, SARs, restricted stock, dividend equivalents, restricted stock units (“RSUs”) and other stock or cash based awards. Certain awards under the Inducement Plan may constitute or provide for payment of “nonqualified deferred compensation” under Section 409A of the Code, which may impose additional requirements on the terms and conditions of such awards. All awards under the Inducement Plan will be evidenced by award agreements, which will detail the terms and conditions of awards, including any applicable vesting and payment terms and post-termination exercise limitations. Awards other than cash awards generally will be settled in shares of our common stock, but the applicable award agreement may provide for cash settlement of any award. A brief description of each award type follows. • Stock Options and SARs. Stock options provide for the purchase of shares of our common stock in the future at an exercise price set on the grant date. SARs entitle their holder, upon exercise, to receive from us an amount equal to the appreciation of the shares subject to the award between the grant date and the exercise date. The exercise price of a stock option or SAR may not be less than 100% of the fair market value of the underlying share on the grant date (or 110% in the case of ISOs granted to certain significant stockholders), except with respect to certain substitute awards granted in connection with a corporate transaction. The term of a stock option or SAR may not be longer than ten years (or five years in the case of ISOs granted to certain significant stockholders). • Restricted Stock. Restricted stock is an award of nontransferable shares of our common stock that are subject to certain vesting conditions and other restrictions. • RSUs. RSUs are contractual promises to deliver shares of our common stock in the future or an equivalent in cash and other consideration determined by the plan administrator, which may also remain forfeitable unless and until specified conditions are met and may be accompanied by the right to receive the equivalent value of dividends paid on shares of common stock prior to the delivery of the underlying shares (i.e., dividend equivalent rights). The plan administrator may provide that the delivery of the shares (or payment in cash) underlying RSUs will be deferred on a mandatory basis or at the election of the participant. The terms and conditions applicable to RSUs will be determined by the plan administrator, subject to the conditions and limitations contained in the Inducement Plan. • Other Stock or Cash Based Awards. Other stock or cash based awards are awards of cash, fully vested shares of our common stock and other awards valued wholly or partially by referring to, or otherwise based on, shares of our common stock. Other stock or cash based awards may be granted to participants and may also be available as a payment form in the settlement of other awards, as standalone payments and as payment in lieu of compensation to which a participant is otherwise entitled. • Dividend Equivalents. Dividend equivalents represent the right to receive the equivalent value of dividends paid on shares of our common stock and may be granted alone or in tandem with awards other than stock options or SARs. Dividend equivalents are credited as of the dividend record dates during the period between the date an award is granted and the date such award vests, is exercised, is distributed or expires, as determined by the plan administrator."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b610", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b611", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b613", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b615"], "char_count": 3583, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "54f53347f47aa5d59bb62d50098772455286d3b37788ac7a255b2c1bd58d2f13", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 610, "char_end": 57, "char_start": 0, "fragment_sha256": "b21412442f0525a80408371e27006355802b23061fbeba2df921bda2f33f2e4c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 611, "char_end": 11, "char_start": 0, "fragment_sha256": "c8746b2e9078ab56b0a2152aa433d00ca0632381ecd4758de7fb36494a1d4857", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 613, "char_end": 6, "char_start": 0, "fragment_sha256": "a785841447b6e26a7af432d67d4acc68bde79a74f9fb9887f28652204484c62b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 615, "char_end": 3503, "char_start": 0, "fragment_sha256": "e7b92d1e93b6143061ab6bc8622ecacd613af55be9f92ef2c27f5cfda06fd193", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p197", "passage_kind": "narrative", "passage_sequence": 197, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s124", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "56 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 62\n\nAnchor\n\nAnchorCertain Transactions The plan administrator has broad discretion to take action under the Inducement Plan, as well as make adjustments to the terms and conditions of existing and future awards, to prevent the dilution or enlargement of intended benefits and facilitate necessary or desirable changes in the event of certain transactions and events affecting our common stock, such as stock dividends, stock splits, mergers, acquisitions, consolidations and other corporate transactions. In addition, in the event of certain non-reciprocal transactions with our stockholders known as “equity restructurings,” the plan administrator will make equitable adjustments to the Inducement Plan and outstanding awards. In the event of a change in control (as defined in the Inducement Plan), to the extent that the surviving entity declines to continue, convert, assume or replace outstanding awards, then all such awards will become fully vested and exercisable in connection with the transaction. AnchorNo Repricing Except in connection with certain changes in our capital structure, stockholder approval will be required for any amendment that reduces the exercise price of any stock option or SAR, or cancels any stock option or SAR in exchange for cash, other awards or stock options or SARs with an exercise price per share that is less than the exercise price per share of the original stock options or SARs. AnchorForeign Participants, Claw-Back Provisions, Transferability and Participant Payments The plan administrator may modify award terms, establish subplans and/or adjust other terms and conditions of awards, subject to the share limits described above, in order to facilitate grants of awards subject to the laws and/or stock exchange rules of countries outside of the United States. All awards will be subject to any company claw-back policy as set forth in such claw-back policy or the applicable award agreement. Awards under the Inducement Plan are generally non-transferrable, except by will or the laws of descent and distribution, or, subject to the plan administrator’s consent, pursuant to a domestic relations order, and are generally exercisable only by the participant. With regard to tax withholding, exercise price and purchase price obligations arising in connection with awards under the Inducement Plan, the plan administrator may, in its discretion, accept cash or check, shares of our common stock that meet specified conditions, a “market sell order” or such other consideration as it deems suitable. AnchorStockholder Approval; Plan Amendment and Termination Pursuant to applicable stock exchange rules, stockholder approval of the Inducement Plan was not required as a condition of the effectiveness of the Inducement Plan. Our board of directors may amend or terminate the Inducement Plan at any time; however, no amendment, other than an amendment that increases the number of shares available under the Inducement Plan, may materially and adversely affect an award outstanding under the Inducement Plan without the consent of the affected participant, and stockholder approval will be obtained for any amendment to the extent necessary to comply with applicable laws. The Inducement Plan will remain in effect until the tenth anniversary of the date the Compensation Committee adopted the Inducement Plan, unless earlier terminated. No awards may be granted under the Inducement Plan after its termination. Opendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 57"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b616", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b618"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b7c051728ed72fd52c3543287ac0d65d984cee1073ad2abf936987111280339d", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 616, "char_end": 11, "char_start": 0, "fragment_sha256": "9379492d32396243417873f09da7ab36965e4a73274c811b9ad38140e9b07256", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 618, "char_end": 6, "char_start": 0, "fragment_sha256": "3c75b48f0c299d037c4fa2540a504669a9d13420517821a1472dee914407ae54", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p198", "passage_kind": "narrative", "passage_sequence": 198, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s124", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 63\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b621"], "char_count": 1055, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "851121306c976345d904c8987600ef0cee7d07791d8e107bda57e612abed31b9", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 621, "char_end": 1055, "char_start": 0, "fragment_sha256": "a0bbc1e6db3918c319ea2444ee5049cfb818301ad79b6caaef876a1543880afa", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p199", "passage_kind": "narrative", "passage_sequence": 199, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The following table sets forth information regarding the beneficial ownership of our common stock as of March 27, 2023, by: • each person, or group of affiliated persons, known to us to be the beneficial owner of more than 5% of our voting shares; • each of our named executive officers and directors; and • all of our current executive officers and directors as a group. Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days of March 27, 2023. Percentage ownership of our voting securities is based on 647,406,911 shares of our common stock that were issued and outstanding as of March 27, 2023. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b622"], "char_count": 1366, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "466c557ff5dab4a3d22ec21c8e0afdd001ec2f8abfcda57fcb52525ba3dd0d32", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 622, "char_end": 1215, "char_start": 0, "fragment_sha256": "bbcfb8592da0b75b4e2efb3ee91b617feb50efce0b69b760e99ca94155519602", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": 34, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p200", "passage_kind": "table", "passage_sequence": 200, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b622", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Name and Address of Beneficial Owner(1) | ​ | ​ | Total Number of Shares Beneficially Owned | ​ | ​ | Percentage of Common Stock Beneficially Owned |\n| 5% Holders | ​ | ​ | | ​ | ​ | |\n| The Vanguard Group(2) | ​ | ​ | 68,341,853 | ​ | ​ | 10.56% |\n| AI LiquidRE LLC(3) | ​ | ​ | 53,598,914 | ​ | ​ | 8.28% |\n| The Goldman Sachs Group, Inc(4) | ​ | ​ | 45,842,904 | ​ | ​ | 7.08% |\n| Sylebra Capital Limited(5) | ​ | ​ | 32,436,371 | ​ | ​ | 5.01% |\n| Directors and Named Executive Officers | ​ | ​ | | ​ | ​ | |\n| Carrie Wheeler | ​ | ​ | 2,720,486 | ​ | ​ | * |\n| Christina Schwartz(6) | ​ | ​ | 365,647 | ​ | ​ | * |\n| Sydney Schaub | ​ | ​ | — | ​ | ​ | — |\n| Andrew Low Ah Kee | ​ | ​ | ​1,220,543 | ​ | ​ | * |\n| Daniel Morillo(7) | ​ | ​ | 353,885 | ​ | ​ | * |\n| Adam Bain(8) | ​ | ​ | 2,853,016 | ​ | ​ | * |\n| Cipora Herman(9) | ​ | ​ | 168,818 | ​ | ​ | * |\n| Jonathan Jaffe(10) | ​ | ​ | 50,097 | ​ | ​ | * |\n| Pueo Keffer(11) | ​ | ​ | 441,414 | ​ | ​ | * |\n| Jason Kilar(12) | ​ | ​ | 196,779 | ​ | ​ | * |\n| John Rice(13) | ​ | ​ | 69,036 | ​ | ​ | * |\n| Glenn Solomon(14) | ​ | ​ | ​13,209,328 | ​ | ​ | ​2.04% |\n| Eric Wu(15) | ​ | ​ | 30,403,853 | ​ | ​ | 4.70% |\n| All current directors and executive officers as a group (12 persons) | ​ | ​ | ​53,877,889 | ​ | ​ | ​8.32% |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b623", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b624", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b625", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b627"], "char_count": 1185, "cik10": 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"viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 627, "char_end": 6, "char_start": 0, "fragment_sha256": "c2bac6b589fd96a08313587743c98839ea15123bc84e372ee3be052548b63367", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p201", "passage_kind": "narrative", "passage_sequence": 201, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "* Less than 1% of our outstanding common stock. (1) Unless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85281. (2) Based solely on a Schedule 13G filed with the SEC on February 9, 2023 by The Vanguard Group. The address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (3) Based solely on a Schedule 13D filed with the SEC on October 6, 2021, by Access Industries Management, LLC (“AIM”), AI LiquidRE LLC (“AIL”), LBIT 2002 LLC (“LBIT”) and Len Blavatnik (collectively, the “Reporting Persons,” and each, a “Reporting Person”). Consists of (i) 53,524,812 shares of common stock held directly by AIL and (ii) 74,102 shares of common stock held directly by LBIT and, in each case, may be deemed to be beneficially owned by AIM and Len Blavatnik because (i) AIM is the controlling entity of AIL and LBIT, respectively, and (ii) Len Blavatnik controls AIM and LBIT and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL, with respect to shares held\n\n58 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 64\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b629"], "char_count": 3829, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b8d1551946e8529383c39361de8e69405f66b2909a48ab9002274f1959673049", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 629, "char_end": 3829, "char_start": 0, "fragment_sha256": "1ab682873e6f98d6c25c08bf7f221cc015d8fff61aec1de7a4b48c1f931a7737", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p202", "passage_kind": "narrative", "passage_sequence": 202, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "directly by AIL, and LBIT, with respect to shares held directly by LBIT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities. The address of each of the Reporting Persons is 40 West 57th St., 28th Floor, New York, New York 10019. (4) Based solely on a Schedule 13G filed with the SEC on February 8, 2023, by The Goldman Sachs Group, Inc. The address of The Goldman Sachs Group, Inc. is 200 West Street, New York, NY 10282. (5) Based solely on a Schedule 13G filed with the SEC on February 14, 2023, by Sylebra Capital Limited. Sylebra HK may be deemed to beneficially own the Shares by virtue of its position as the investment sub-adviser to Sylebra Capital Partners Master Fund, Ltd, (“SCP MF”), Sylebra Capital Parc Master Fund (“PARC MF”), Sylebra Capital Menlo Master Fund (Menlo MF) and other advisory clients. Sylebra Cayman is the investment manager and the parent of Sylebra HK. Mr. Gibson owns 100% of the shares of Sylebra HK and more than 99% of the shares of Sylebra Cayman. In such capacities, Sylebra HK, Sylebra Cayman, and Mr. Gibson may be deemed to share voting and dispositive power over the Shares held for SCP MF, PARC MF and other advisory clients. The address for Sylebra Capital Limited is 28 Hennessy Road, Floor 20, Wan Chai, Hong Kong. (6) Includes (i) 273,591 shares of common stock held by Christina Schwartz, (ii) 28,355 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023 and (iii) 63,701 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2023. (7) Includes (i) 247,734 shares of common stock held by Daniel Morillo and (ii) 106,151 shares of issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (8) Includes (i) 48,370 shares of common stock held by Adam Bain, (ii) 36,374 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023, (iii) 225,000 shares of common stock held by 010118 Management, L.P. (“010118”) and (iv) 2,543,272 shares held by 01 Advisors 01 LP (“01 Advisors”). Mr. Bain is a managing member of 010118 and a managing partner of 01 Advisors and may be deemed a beneficial owner of the shares of common stock held by 010118 and 01 Advisors. (9) Includes (i) 132,043 shares of common stock held by Cipora Herman and (ii) 36,775 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (10) Includes (i) 25,543 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023 and (ii) 24,554 shares of common stock held by Len X, LLC. Len X, LLC, a wholly owned subsidiary of Lennar Corporation of which Mr. Jaffe is the Co-Chief Executive Officer and Co-President and member of the board of directors. Mr. Jaffe is a minority stockholder of Lennar Corporation, owning less than one percent of Lennar Corporation's outstanding shares. Mr. Jaffe disclaims beneficial ownership of the shares of common stock held by Len X, LLC except to the extent of his pecuniary interest therein. (11) Includes (i) 406,244 shares of common stock held by Pueo Keffer and (ii) 35,170 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023. (12) Includes (i) 146,973 shares of common stock held by Jason Kilar, (ii) 25,543 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023 and (iii) 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2023. (13) Includes (i) 26,209 shares of common stock held by John Rice and (ii) 42,827 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b629"], "char_count": 1198, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7403e3e1ab8dd6abfb661345197b4034c7113fea5e37b445e5181609b5e85e65", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 629, "char_end": 5027, "char_start": 3829, "fragment_sha256": "1ab682873e6f98d6c25c08bf7f221cc015d8fff61aec1de7a4b48c1f931a7737", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p203", "passage_kind": "narrative", "passage_sequence": 203, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s125", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(14) Includes (i) 1,488 shares of common stock held by Glenn Solomon, (ii) 35,973 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023, (iii) 262,784 of common stock held by The Solomon Family Trust, (iv) 5,867,568 shares of common stock held of record by GGV Capital V L.P. (\"GGCV\"), (v) 6,597,680 shares of common stock held of record by GGV Capital Select L.P. (\"GGCS\"), (vi) 215,339 shares of common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (\"GGCVEF\"), (vii) 20,884 shares of common stock held of record by GGV Capital LLC (\"GGVC LLC\") and (viii) 207,612 shares of common stock held of record by GGV Capital V L.L.C (\"GGCV LLC\"). GGCV LLC is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (\"GGCS LLC\") is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC, GGCS LLC, and GGVC LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares. (15) Includes (i) 30,265,900 shares of common stock held by Eric Wu and (ii) 137,953 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2023."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b631", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b632", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b633", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b635"], "char_count": 867, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2641c64a5370307e90ea8c4f3f3653d05ac86f32757e02dc45ba003d113f85df", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 631, "char_end": 787, "char_start": 0, "fragment_sha256": "d95397aee7bd37b9f97d508fcba80915df9f4bee55bafc3a45ed626c24e0337c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 632, "char_end": 57, "char_start": 0, "fragment_sha256": "d1f024d68f8edba6d2b66e0a98b813352bf19329139e4517c48531f952948f83", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 633, "char_end": 11, "char_start": 0, "fragment_sha256": "9500c48e314d94f7e2446212a24b9eef3dc5cfb13b4e0e6b915bde90e49d5f67", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 635, "char_end": 6, "char_start": 0, "fragment_sha256": "571de29e03d9058a37138ea822305e6583f6df0b8386bb7a7aaa597dbc9043f6", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p204", "passage_kind": "narrative", "passage_sequence": 204, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Section 16(a) of the Exchange act requires the Company’s directors and executive officers to file initial reports of ownership and reports of changes in ownership with the SEC. As a matter of practice, our administrative staff assists our directors and executive officers in preparing these reports and typically files these reports on their behalf. We believe that all Section 16(a) filing requirements were met in fiscal year 2022, with the exceptions noted below: • One late Form 4 report was filed on December 23, 2022, for Christina Schwartz reporting two transactions for sales of shares of Common Stock. • One late Form 4 report was filed on December 23, 2022, for Daniel Morillo reporting two transactions for sale of shares of Common Stock, only one of which was untimely filed.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 59\n\nEnd Page 65\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b637"], "char_count": 3886, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "de6b38ba9332a2843a906ffd70f647657225b862b368f5c0cc676384b0494a7f", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 637, "char_end": 3886, "char_start": 0, "fragment_sha256": "7696a919d2593cca7b6c41168b608c8d8186ff53e2f5d1055fa81dbe16660a73", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p205", "passage_kind": "narrative", "passage_sequence": 205, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "AnchorCERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS AnchorPolicies and Procedures for Approval of Related Person Transactions Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). Our Board has adopted a written “Related Person Transaction Policy”, setting forth the policies and procedures for the review and approval or ratification of related person transactions. For purposes of the Company’s policy only, a “related person transaction” is a transaction, arrangement or relationship (or any series of similar transactions, arrangements or relationships) in which the Company and any “related person” are participants involving an amount that exceeds $120,000. Transactions involving compensation for services provided to the Company as an employee, director, consultant or similar capacity by a related person are not covered by this policy. A related person is any executive officer, director, or more than 5% stockholder of the Company, including any of their immediate family members, and any entity owned or controlled by such persons. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company’s Chief Legal Officer by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Chief Legal Officer is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Our Audit Committee must review the relevant facts and circumstances of each related person transaction, including if the transaction is on terms comparable to those that could be obtained in arm’s length dealings with an unrelated third party and the extent of the related person’s interest in the transaction, take into account the conflicts of interest and corporate opportunity provisions of our Code of Conduct, and either approve or disapprove the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in the approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b637"], "char_count": 1018, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "112ce55a1fc73e5217150231e153b68499fe307109092cf6c11de30dc04e5180", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 637, "char_end": 4904, "char_start": 3886, "fragment_sha256": "7696a919d2593cca7b6c41168b608c8d8186ff53e2f5d1055fa81dbe16660a73", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p206", "passage_kind": "narrative", "passage_sequence": 206, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Other than as listed below, there are no related party transactions entered into since January 1, 2022 requiring disclosure (and other than equity and other compensation, termination, change in control and other arrangements, which are described under the section of this proxy titled “Executive Compensation”). AnchorDirector and Officer Indemnification and Insurance We have entered into indemnification agreements with each of our directors and officers. These agreements, among other things, require us or will require us to indemnify each director (and in certain cases their related venture capital funds) and officer to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys’ fees, judgments, fines and settlement amounts incurred by the director or officer in any action or proceeding, including any action or proceeding by or in right of us, arising out of the person’s services as a director or officer. 60 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b638", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b640", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b642"], "char_count": 2054, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "983a44128088f68bfdba226bb3785bf36b663db4361bec5fc9a035820bd305ad", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 638, "char_end": 11, "char_start": 0, "fragment_sha256": "bf45cfdd2c1c9459d1e9e3d9ed87a20ae2dc52b5041d2d5de440f2d4c59d1048", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 640, "char_end": 6, "char_start": 0, "fragment_sha256": "89f718cc0d899de236e70bba793ee49e76b6d4362a325cb9c14f84b375979a93", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 642, "char_end": 2033, "char_start": 0, "fragment_sha256": "c228f2fbe34a02f19925f766b1b5b0736a83d51fbc7d8709839390271f43ccb3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorDelinquent Section 16(a) Reports"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p207", "passage_kind": "narrative", "passage_sequence": 207, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s126", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 66\n\nAnchor\n\nAnchorPROPOSAL 2 — RATIFICATION OF APPOINTMENT BY THE AUDIT COMMITTEE OF DELOITTE & TOUCHE LLP The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, we value the opinions of our stockholders and believe that stockholder ratification of our appointment is a good corporate governance practice. If our stockholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain Deloitte & Touche LLP. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of different independent auditors for the Company at any time during the year, if they determine that such a change would be in the best interests of the Company and its stockholders. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2022. Neither Deloitte & Touche LLP nor any of its members has any direct or indirect financial interest in or any connection with us in any capacity other than as our auditors, providing audit and non-audit services. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. In the event that the appointment of Deloitte & Touche LLP is not ratified by the stockholders at the Annual Meeting, our Audit Committee will consider this fact when it appoints the independent auditors for the fiscal year ending December 31, 2024. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b644", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b645", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b646", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b648"], "char_count": 289, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cb535af8818f8e8691d0dc1eb49952b9371aa126c5dbceb4704eb4f0b6faa110", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 644, "char_end": 209, "char_start": 0, "fragment_sha256": "629a4fbc5c88055b3193e606c8ca9bfc1334212bb6c4b7917d380e9a1fe83e3f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 645, "char_end": 57, "char_start": 0, "fragment_sha256": "e04c1bdc2f64b2631f9ea4916fcced93b9b6c9eace9ed7f86b0f1fddffc5308b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 646, "char_end": 11, "char_start": 0, "fragment_sha256": "aec3eca3be08abaa132b56285c8b052a5fb69b0b99cdac99a5347e991662f7f2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 648, "char_end": 6, "char_start": 0, "fragment_sha256": "cd5ddf518ca3bf605d53a7f1a6cc752681b545cdd9929b67f0fd5c8283538c8d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p208", "passage_kind": "narrative", "passage_sequence": 208, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s127", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Board recommends a vote “FOR” the ratification of the appointment by the Audit Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2023.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 61\n\nEnd Page 67\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b651"], "char_count": 208, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e8afeae23a700e4cff2cdcef8b1d06e932a8f39b4c92b6aa8cdeb23c03d6cdc3", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 651, "char_end": 208, "char_start": 0, "fragment_sha256": "24f1538c488eb0f8c3e9af971fee810b3b29eb2c6fa7a59e4898122535198e32", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p209", "passage_kind": "narrative", "passage_sequence": 209, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s128", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The following table summarizes the fees of Deloitte & Touche LLP, our independent registered public accounting firm, billed to Opendoor Technologies Inc. for the fiscal years ended December 31, 2022 and 2021."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b652"], "char_count": 375, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b0442b064886bf0f14b208f1ac463edfc6a413ed2b3da87eaea9cc0cb182e3d0", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 652, "char_end": 284, "char_start": 0, "fragment_sha256": "f85891e99f8097a59d96cf19618463b0eefc91b97188b1f50e0dc81c61181d89", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "table_index": 35, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p210", "passage_kind": "table", "passage_sequence": 210, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s128", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b652", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Fee Category (in thousands) | ​ | ​ | 2022 | ​ | ​ | 2021 |\n| Audit Fees(1) | ​ | ​ | $3,034 | ​ | ​ | $2,940 |\n| Audit-Related Fees(2) | ​ | ​ | ​226 | ​ | ​ | 778 |\n| Tax Fees(3) | ​ | ​ | 361 | ​ | ​ | 437 |\n| All Other Fees(4) | ​ | ​ | — | ​ | ​ | 60 |\n| Total Fees | ​ | ​ | $3,635 | ​ | ​ | $4,215 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b653"], "char_count": 799, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "53255e3574ede706ce1f7f600c7a8c26cf8ee3964c56c6c6f48656eb96ca2515", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 653, "char_end": 799, "char_start": 0, "fragment_sha256": "da780f96388ab73a05b4bacbe08fdea9c0cef43c4464aecf1f472630ec20b204", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p211", "passage_kind": "narrative", "passage_sequence": 211, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s128", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "(1) Audit fees consist of fees for professional services rendered in connection with the annual audits of our consolidated financial statements and consultations on accounting matters directly related to the audit. (2) Audit-related fees consist of fees for professional services rendered in connection with (1) financial statements incorporated in SEC filings during 2021 and 2022, respectively, and (2) agreed upon procedures related to certain compliance audits. (3) Tax fees consist of fees billed for services rendered for tax compliance, tax advice and tax planning. (4) All other fees consist of fees for all other services not included in the categories set forth above. All of the services of Deloitte & Touche LLP for 2022 and 2021 described above were pre-approved by the Audit Committee."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b655"], "char_count": 1296, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9de617055ac3257c24a4e8a7a654b00072caac7e0506c72dfe8d6cf39a983ace", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorAudit Committee Pre-Approval Policy and Procedures"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 655, "char_end": 1296, "char_start": 0, "fragment_sha256": "c8e3a7b34f6bc6eb6a1b5d909363bc5ef9506387581647c35b7ed15214679362", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorAudit Committee Pre-Approval Policy and Procedures"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p212", "passage_kind": "narrative", "passage_sequence": 212, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s129", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Audit Committee has adopted a pre-approval policy (the “Pre-Approval Policy”) that sets forth the procedures and conditions pursuant to which audit and non-audit services proposed to be performed by the independent auditor may be pre-approved. The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i) explicitly approved by the Audit Committee on a case-by-case basis (“specific pre-approval”) or (ii) pre-approved on a collective basis pursuant to the Pre-Approval Policy entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (“collective pre-approval”). Unless a type of service to be provided by Deloitte & Touche LLP has received collective pre-approval, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC’s rules on auditor independence."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b657"], "char_count": 1867, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5f537c355dcbffa7b5ee454966c576fe37ebdce324687fce6441913de2d21744", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 657, "char_end": 1867, "char_start": 0, "fragment_sha256": "c4f834986ab6a39c09722767924e2c31198a7c12615b01121548d1e91dfaf141", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p213", "passage_kind": "narrative", "passage_sequence": 213, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s130", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the “Company”) for the fiscal year ended December 31, 2022 and has discussed these financial statements with management and the Company’s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company’s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (“PCAOB”) and the Securities and Exchange Commission. The Company’s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm’s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Cipora Herman (Chair) Adam Bain Pueo Keffer"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b658", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b659", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b661", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b663"], "char_count": 2011, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7e6835e04d9d508267597cfe51589b73d6d44f19a7bf521f61a6f5742d3d4e94", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 658, "char_end": 57, "char_start": 0, "fragment_sha256": "9156684009b3ec7e31962b3a6ef95afe3364d02dd53263b78434876797f4d77e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 659, "char_end": 11, "char_start": 0, "fragment_sha256": "cc18047fafb208e44b461dbddd2d452880ba5d055732927c1ed1eb0963e6e2bd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 661, "char_end": 6, "char_start": 0, "fragment_sha256": "f2c8201d91e950c2abdb61cab1182423abc813cde28c8b0effe8d25631187591", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 663, "char_end": 1931, "char_start": 0, "fragment_sha256": "f5a122c3a19c3ea1795f3d8622df63e04f15d5325ab4906481d33fdedff9098a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p214", "passage_kind": "narrative", "passage_sequence": 214, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s130", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "62 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement\n\nEnd Page 68\n\nAnchor\n\nAnchorPROPOSAL 3 — APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS AnchorBackground As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a “Say-on-Pay Vote”, gives our stockholders the opportunity to express their views on our named executive officers’ compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the “Executive Compensation” section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. The next Say-on-Pay Vote will occur at our 2024 annual meeting of stockholders (“2024 Annual Meeting”). Accordingly, we ask our stockholders to vote “FOR” the following resolution at the Annual Meeting: “RESOLVED, that the stockholders of Opendoor Technologies Inc. approve, on an advisory (non-binding) basis, the 2022 compensation of Opendoor Technologies Inc.’s named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.’s proxy statement for the 2023 Annual Meeting of Stockholders.”"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b665", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b666", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b667", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b669"], "char_count": 381, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "942d651a73c5571398ce2ea5de7b7cedbdc2967abb1af296f837cf2043514c54", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 665, "char_end": 301, "char_start": 0, "fragment_sha256": "f9923d8e14a42df58074fc9a6c73c10a99aa58989ad9af9dd345ab27970f708e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 666, "char_end": 57, "char_start": 0, "fragment_sha256": "788451d642fdb0efbff1ed1667e850a0a6aa549c8dc90acb84cdfce331aabd12", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 667, "char_end": 11, "char_start": 0, "fragment_sha256": "8b9c84f336ff95db2a5da4b8b4b36c8c89374e1f2ea627a6da3844f0d1e7ecf8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 669, "char_end": 6, "char_start": 0, "fragment_sha256": "ca622811c103ec54870f9af4ad6a6781b32415ff56dd4af85d5e7cdfdfbe5de6", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p215", "passage_kind": "narrative", "passage_sequence": 215, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s131", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "Our Board unanimously recommends a vote “FOR” the resolution to approve, on an advisory (non-binding) basis, the 2022 compensation of our named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in this proxy statement.\n\nOpendoor Technologies Inc. // 2023 Proxy Statement ​ ​ 63\n\nEnd Page 69\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b671"], "char_count": 3744, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4e79c546e083df228f95e531106d5d07c5b912f6b6d9af9dcbe241063a928ee1", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 671, "char_end": 3744, "char_start": 0, "fragment_sha256": "6f84e455de5f345cde72855f8e004a540409000ce8bf80208ce2d87371b1b7fa", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p216", "passage_kind": "narrative", "passage_sequence": 216, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s131", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "AnchorADDITIONAL INFORMATION AnchorStockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2024 Annual Meeting pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 29, 2023. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Sydney Schaub. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2024 Annual Meeting, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than March 16, 2024 and not before February 15, 2024, provided, however, that if the date of the 2024 Annual Meeting is more than 30 days before, or more than 60 days after, the one-year anniversary of this year's Annual Meeting, notice by the stockholder to be timely must be so delivered or received, not more than the 120th day prior to such 2024 Annual Meeting date and not later than (i) the 90th day prior to such 2024 Annual Meeting date or, (ii) if later, the 10th day following the day on which public disclosure of the date of the 2024 Annual Meeting was first made by us. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2024 Annual Meeting. In addition to satisfying the foregoing requirements under our Bylaws, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than the Company’s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act no later than April 15, 2024 except that, if the date of the 2024 Annual Meeting has changed by more than 30 calendar days from this Annual Meeting date, then notice must be provided by the later of 60 calendar days prior to the date of the 2024 Annual Meeting or the 10th calendar day following the day on which public announcement of the date of the 2024 Annual Meeting is first made by us. The next Say-on-Pay Vote will occur at the 2024 Annual Meeting. AnchorHouseholding of Annual Meeting Materials Under the rules adopted by the SEC, we may deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as “householding” and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of this proxy statement or our 2022 Annual Report, contact Broadridge Financial Solutions, Inc. by calling 1-866-540-7095 or in writing at 51 Mercedes Way, Edgewood, New York 11717, Attention: Householding Department."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b671"], "char_count": 1104, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "64dc163c0a5b4b76e619c76646dab122d7aece69aafa48dbf752f5fa516ea0ac", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 671, "char_end": 4848, "char_start": 3744, "fragment_sha256": "6f84e455de5f345cde72855f8e004a540409000ce8bf80208ce2d87371b1b7fa", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p217", "passage_kind": "narrative", "passage_sequence": 217, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s131", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "In addition, if you currently are a stockholder who shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household, you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address. AnchorOther Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. AnchorSolicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. 64 ​ ​ Opendoor Technologies Inc. // 2023 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b672", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b674", "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#b676"], "char_count": 1349, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a822c1f144ae66e73423580f1d2d4840501dd64f9a99be5fbee9502346618677", "derivation_id": "1edc79d8433faab833f795ce07b2931514a0acdfe2a976ad106f7c0b744e3f0f", "document_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2023-04-27", "filing_id": "sec:0001801169:0001140361-23-021060", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 672, "char_end": 11, "char_start": 0, "fragment_sha256": "f0a033b1d50e43162142795412a6cde2f096557e69e8d82f4a4ac7c545b98e3c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 674, "char_end": 6, "char_start": 0, "fragment_sha256": "03447a03b3585b4c9ae2d5b678b0b76541026ae7fe405f5c87005f1e25ca1686", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "block_sequence": 676, "char_end": 1328, "char_start": 0, "fragment_sha256": "9d3f3ae102bb58d33e4938a2ca5550874af503fe342774e93c42e8229a7fa99a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#p218", "passage_kind": "narrative", "passage_sequence": 218, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": null, "section_id": "norm:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm#s131", "source_artifact_id": "sec:0001801169:0001140361-23-021060:ny20006733x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036123021060/ny20006733x1_def14a.htm", "table_id": null, "text": "End Page 70\n\nAnchor\n\nIn addition to the use of the mails, proxies may be solicited by telephone and email by directors, officers and other employees of Opendoor who will not be specially compensated for these services. We will also request that brokers, nominees, custodians and other fiduciaries forward soliciting materials to the beneficial owners of shares held of record by such brokers, nominees, custodians and other fiduciaries. We will reimburse such persons, other than directors and employees of Opendoor for their reasonable expenses in connection therewith. We have also engaged MacKenzie Partners, Inc. to assist in the solicitation of proxies and provide related advice and informational support for a services fee and the reimbursement of customary disbursements that are not expected to exceed $14,000 in the aggregate. We may also reimburse brokerage firms, banks and other agents for the cost of forwarding proxy materials to beneficial owners. Any stockholder needing assistance in voting their shares should contact MacKenzie Partners, Inc. at (800) 322-2885 (Toll Free) or via email at proxy@mackenziepartners.com. 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You also may access this proxy statement and our 2022 Annual Report in the “Financials & Filings” section of the “Investor Relations” page of our website located at https://investor.opendoor.com.\n\nWHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING ELECTRONICALLY, WE URGE YOU TO VOTE YOUR SHARES VIA THE TOLL-FREE TELEPHONE NUMBER OR OVER THE INTERNET, AS DESCRIBED IN THIS PROXY STATEMENT. IF YOU RECEIVED A COPY OF THE PROXY CARD BY MAIL, YOU MAY SIGN, DATE AND MAIL THE PROXY CARD IN THE ENCLOSED RETURN ENVELOPE. 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(the \u201cAnnual Meeting\u201d), which will be held on Friday, June 14, 2024, at 9:30 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2024. For further information on how to participate in the meeting, please see \u201cGeneral Information About the Annual Meeting & This Proxy Statement\u201d in the accompanying proxy statement. We are pleased to make our annual report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission\u2019s (the \u201cSEC\u201d) Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the Annual Meeting regardless of whether you plan to attend virtually. The accompanying proxy statement contains information about the matters on which you are being asked to vote, as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors (the \u201cBoard\u201d). Thank you for your investment in Opendoor. We appreciate your support. Sincerely," + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b22", + "block_sequence": 22, + "block_sha256": "98711cbfbb5d92884c45686673cd0a8ab1818287a1875f37c6ad46892814002c", + "block_type": "paragraph", + "char_count": 64, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 22, + "char_end": 64, + "char_start": 0, + "fragment_sha256": "a5ef312081b89e11ba25f09d99f4e7d9822756d8e08d71dbae8b96e4002b4740", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "OPENDOOR TECHNOLOGIES INC.", + "Tempe, Arizona 85288", + "AnchorLETTER TO STOCKHOLDERS FROM THE CHIEF EXECUTIVE OFFICER" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s11", + "table": null, + "text": "Carrie Wheeler Chief Executive Officer & Director April 24, 2024" + }, + { + "block_id": 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Statements containing words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201cfuture,\u201d \u201cguidance,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201cstrategy,\u201d \u201cstrive,\u201d \u201ctarget,\u201d \u201cvision,\u201d \u201cwill,\u201d or \u201cwould,\u201d any negative of these words or other similar terms or expressions may identify forward-looking statements. The absence of these words does not mean that a statement is not forward-looking. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. 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To ensure that a quorum is present at the annual meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the annual meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the annual meeting, you will be able to vote electronically, even if you have previously submitted your proxy." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b56", + "block_sequence": 56, + "block_sha256": "70261b2fa1c27a8f9f9ca2e6653eb4488664e2f46bc9fa414a558c6a10142594", + "block_type": "paragraph", + "char_count": 1270, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 56, + "char_end": 1270, + "char_start": 0, + "fragment_sha256": "adc5c76ba193803c0eaf7c4d94134008d4220c88b10d61e5667fd9b63c565a99", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "To Our Stockholders: NOTICE IS HEREBY GIVEN that the 2024 Annual Meeting of Stockholders (the \u201cAnnual Meeting\u201d) of Opendoor Technologies Inc. (the \u201cCompany\u201d or \u201cOpendoor\u201d) will be held on Friday, June 14, 2024, at 9:30 a.m. Pacific Time. The Annual Meeting will be a virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/OPEN2024 and enter your 16-digit control number included in this Notice of Internet Availability of Proxy Materials (this \u201cInternet Notice\u201d), your proxy card or the instructions that accompanied your proxy materials. You will not be able to attend the Annual Meeting physically. If you wish to attend the Annual Meeting, detailed instructions are provided under \u201cHow do I attend this year\u2019s Annual Meeting?\u201d on page 10 of the accompanying proxy statement. We have also provided information regarding how stockholders can engage during the Annual Meeting, including how they can vote, ask questions, request technical support and access information following the Annual Meeting within the accompanying proxy statement. At the Annual Meeting, stockholders will consider and vote on the following matters:" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b57", + "block_sequence": 57, + "block_sha256": "34da7d86960030f8fdd45cd12b0d54a45a6eca7c39fcaa5ca8d686f0a78c78aa", + "block_type": "image", + "char_count": 556, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 57, + "char_end": 556, + "char_start": 0, + "fragment_sha256": "ba0ad8a4860e1bfcc680101228d52a10923b791bdea5b50ab8555b083f94dfab", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "MATTER \u200b \u200b \u200b \u200b The election of Dana Hamilton, Cipora Herman and Glenn Solomon to hold office as Class I members of the Board of Directors, each to serve until the 2027 Annual Meeting of Stockholders. \u200b \u200b The ratification of the appointment by the Audit Committee of the Board of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024. \u200b \u200b The approval, on an advisory (non-binding) basis, of the compensation of our named executive officers, as disclosed in the accompanying proxy statement." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b58", + "block_sequence": 58, + "block_sha256": "bdc79f8334bb44d204edc1364cf4e470e85741ec921e3aae899f4dd7e8e2b22f", + "block_type": "paragraph", + "char_count": 831, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 58, + "char_end": 831, + "char_start": 0, + "fragment_sha256": "b8880451ffc6a97053b66773d12279e33c4ea63de967667233e492e77157d327", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. Information relevant to these matters is set forth in the accompanying proxy statement. Stockholders of record of our common stock as of close of business on Monday, April 17, 2024 (the \u201cRecord Date\u201d), are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b59", + "block_sequence": 59, + "block_sha256": "6c7b3b48174a377b9dd7ead5762a5fab5363d45d891905a81496d3bc6ee6fd63", + "block_type": "paragraph", + "char_count": 10, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 59, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "c0a490f5d47abb3b8da1683bc4caba20bacaa88aec157945b8a48af0d6676ed4", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "End Page 6" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b60", + "block_sequence": 60, + "block_sha256": "52ff48a4e1b949ae58c069908c2d7c137f3540dde66be8d2f61da03ce2f07c8e", + "block_type": "page_number", + "char_count": 12, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 60, + "char_end": 12, + "char_start": 0, + "fragment_sha256": "57fc2a7482957d361bda326dfcf58eb65108ae278852cd16f12efe710e6fe6db", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "Begin Page 7" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b61", + "block_sequence": 61, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 61, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "7171e5247f3985c4819613e54f1f42f836c929b904863d9987160d059aa5a788", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b62", + "block_sequence": 62, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 62, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b63", + "block_sequence": 63, + "block_sha256": "8c4a1849e491ce4a1110bf4836a6191595962fc17da7e7da5e60558f24a24190", + "block_type": "paragraph", + "char_count": 1325, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 63, + "char_end": 1325, + "char_start": 0, + "fragment_sha256": "40e0947af3216e07941d5dcb4156e042bc97840810b3e7ce311b4485a27dbbc7", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "On or about April 24, 2024, we expect to mail to our stockholders the Internet Notice containing instructions on how to access this proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2023 (our \u201c2023 Annual Report\u201d). The Internet Notice provides instructions on how to vote via the Internet or by telephone and how to receive a paper copy of our proxy materials. It is important that your shares be represented regardless of the number of shares of common stock you may hold. Whether or not you plan to attend the Annual Meeting, we urge you to vote your shares via the toll-free telephone number or over the Internet, as described in the enclosed materials. If you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed return envelope. Promptly voting your shares will ensure the presence of a quorum at the Annual Meeting and will save us the expense of further solicitation. Submitting your proxy now will not prevent you from voting your shares at the Annual Meeting if you desire to do so, as your proxy is revocable at your option. Please note, however, that if your shares are held of record by a broker, bank or other nominee and you wish to vote at the Annual Meeting, you must obtain a proxy issued in your name from that record holder." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b64", + "block_sequence": 64, + "block_sha256": "62ef0875e00f6ef51b6bfb7f30bb691240654bae63a74e4674f2c0612a7960d8", + "block_type": "paragraph", + "char_count": 297, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 64, + "char_end": 297, + "char_start": 0, + "fragment_sha256": "88b0e84c353ce1a1fd77583ca5a5b678ac4ee8b250bc266890672beff64a2b3f", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2024" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", + "table": null, + "text": "Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to Be Held on Friday, June 14, 2024, at www.virtualshareholdermeeting.com/OPEN2024: This proxy statement and our 2023 Annual Report are available for viewing and downloading at www.proxyvote.com." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b65", + "block_sequence": 65, + "block_sha256": "d1f3af219ec18208f964cadd9902e70ce24dafc56e538b20e22c902389844964", + "block_type": "paragraph", + "char_count": 35, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 65, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "1c8f72b359d502e91a21a392542490d9db609dc421b7aa4683eefbf60b918525", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 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The Board regularly reviews our governance practices, including those outlined in our Corporate Governance Guidelines, to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b97", + "block_sequence": 97, + "block_sha256": "518f308adf85f4a1a8cf79160743a34a2b0a0bfe9c2f3d3125b99001cab27684", + "block_type": "table", + "char_count": 2569, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 97, + "char_end": 2569, + "char_start": 0, + "fragment_sha256": "1f73f4c6a657f092c163f3060331fafaa8764fa11bb9f808bac312c149ec8ac3", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorCorporate Governance Highlights" + ], + "table_index": 7, + "tag_name": "table" + 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If you return a properly completed proxy card, or vote your shares by telephone or Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted, and the Board recommends that you vote:" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b143", + "block_sequence": 143, + "block_sha256": "8ad723d8ecbe80f6fc4eb7785c85a56d4a87af1a5b948d3df9e48c7182a6aab9", + "block_type": "image", + "char_count": 680, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 143, + "char_end": 680, + "char_start": 0, + "fragment_sha256": "0bf1beabb89c5cc8042baf184321d88d0129a44756548dfd40b84ad00d8f30af", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorRecommendations of the Board" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s45", + "table": null, + "text": "\u200b \u200b \u201cFOR\u201d Proposal 1 \u2013 the election of each of Dana Hamilton, Cipora Herman and Glenn Solomon to hold office as Class I members of the Board until the 2027 Annual Meeting of Stockholders; \u200b \u200b \u201cFOR\u201d Proposal 2 \u2013 the ratification of the appointment by the Audit Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ended December 31, 2024; \u200b \u200b \u201cFOR\u201d Proposal 3 \u2013 the approval, on an advisory (non-binding) basis, of the compensation of our named executive officers, as disclosed in this proxy statement; and \u200b \u200b In the discretion of the persons appointed as proxies on any other items that may properly come before the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b144", + "block_sequence": 144, + "block_sha256": "2dad5c6908a3024c5cec429a9ba02281854f277df7b449cc20c82546e3aaabda", + "block_type": "paragraph", + "char_count": 73, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 144, + "char_end": 73, + "char_start": 0, + "fragment_sha256": "05beeaa63df8f0b8c67799c4aa535badc7e875712c6a69251588150824534c9c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorRecommendations of the Board" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s45", + "table": null, + "text": "AnchorFrequently Asked Questions About the Annual Meeting of Stockholders" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b145", + "block_sequence": 145, + "block_sha256": "bad954a04bff7f49308fcd830fde677813c3a5e667f5a22658ef87a9fd93e974", + "block_type": "heading", + "char_count": 89, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 145, + "char_end": 89, + "char_start": 0, + "fragment_sha256": "bdceb2931ec6b4026c569d1aa51b26876185c9a783ee349ff7cd309add51961d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", + "table": null, + "text": "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b146", + "block_sequence": 146, + "block_sha256": "0cc7a1582a8fd86ef09ddba9d75c41abf9d145392da6638740b324af4b595fa4", + "block_type": "paragraph", + "char_count": 1009, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 146, + "char_end": 1009, + "char_start": 0, + "fragment_sha256": "45b6489c61a32b41d18d6bd973282ae940b32ae31b1fd3f9a40a47ac81a2fd08", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", + "table": null, + "text": "As permitted by SEC rules, Opendoor is making this proxy statement and its 2023 Annual Report available to its stockholders electronically via the Internet. On or about April 24, 2024, we expect to mail to our stockholders of record entitled to vote at the Annual Meeting the Internet Notice containing instructions on how to access this proxy statement and our 2023 Annual Report and vote online. If you received an Internet Notice by mail, you will not receive a printed copy of the proxy materials in the mail unless you specifically request them. Instead, the Internet Notice instructs you on how to access and review all of the important information contained in the proxy statement and 2023 Annual Report. The Internet Notice also instructs you on how you may submit your proxy over the Internet. If you received an Internet Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials contained on the Internet Notice." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b147", + "block_sequence": 147, + "block_sha256": "1c5d855455ebd42a8d25eb30f5d217f87aa539b28e0e167885dab01f614452ff", + "block_type": "paragraph", + "char_count": 56, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 147, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "67b31bc9a95b1cd87c2628aba7a1a44417e03c84daa4c1ed66f7c3d985eed412", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", + "table": null, + "text": "Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 7" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b148", + "block_sequence": 148, + "block_sha256": "94dd536d33105cd8b7f2a9d301a7e732f659324d19ecdf006240d60a3301ab06", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 148, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "3cbc7eaa19d2148b7597c6532510735c5c4c4dcdc9707e707f1ae3bd5b036bf1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": 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"text": "Begin Page 15" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b150", + "block_sequence": 150, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 150, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "078f0833b166e5f503cc1cd0bafccad37ecf30e66c5d85c9909aae0e4d283dae", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", + "table": null, + "text": "Anchor" + }, + { + "block_id": 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"block_sequence": 152, + "block_sha256": "de09956d898e02bb8b343286d36f1a205fd21661f3ca26904b479c3718da90fa", + "block_type": "paragraph", + "char_count": 3780, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 152, + "char_end": 3780, + "char_start": 0, + "fragment_sha256": "5c4aa4b1c4cd3f8174c9114a493cd3feda270943942ff7dc3c6992f226b5b6b8", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", + "table": null, + "text": "Will I receive printed copies of the proxy materials? If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials. Who is entitled to vote at the Annual Meeting? Holders of record of our common stock as of Monday, April 17, 2024 (the \u201cRecord Date\u201d) will be entitled to notice of, and such stockholders and holders of a valid proxy will be entitled to vote at, the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. As of the Record Date, 691,575,743 shares of our common stock (\u201cCommon Stock\u201d) were issued and outstanding and entitled to vote at the Annual Meeting. Each share of Common Stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. Stockholder of Record: Shares Registered in Your Name Each holder of record of Common Stock on the Record Date will be entitled to one vote for each share held on all matters to be voted upon at the Annual Meeting. As a stockholder of record, you may vote at the Annual Meeting, or prior to the Annual Meeting, vote through the Internet or by telephone, or by mail using a proxy card that you received or that you may request. See \u201cHow do I vote my shares if I am a stockholder of record?\u201d below. Whether or not you plan to attend the Annual Meeting, we urge you vote by proxy through the Internet or by telephone as instructed below, or by completing a proxy card that you may request or that we may elect to deliver at a later time. Stockholders who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2024 to vote during the Annual Meeting. The stock transfer books will not be closed between the Record Date and the Annual Meeting date. A complete list of stockholders entitled to vote at the Annual Meeting will be available for examination at our principal executive offices at the address listed above for a period of ten days prior to the Annual Meeting. Beneficial Owner: Shares Registered in the Name of a Broker or Bank If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner of shares held in \u201cstreet name\u201d and the Notice is being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting during the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend the Annual Meeting. However, since you are not the stockholder of record, you may only vote your shares during the Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2024 to vote during the Annual Meeting. What is the difference between being a \u201crecord holder\u201d and holding shares in \u201cstreet name\u201d? A record holder holds shares in their name. Shares held in \u201cstreet name\u201d means shares that are held in the name of a bank or broker on a person\u2019s behalf. 8 \u200b \u200b Opendoor Technologies Inc. // 2024 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b153", + "block_sequence": 153, + "block_sha256": "0692d09b928a34d4a81de06c3265d4a9ed121dd369d5e195c11f7adac2dd24c4", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 153, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "68dc7be185a930f6cae35ca66c115e572957b0841c86403c52423e2c72e4439d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the Internet?" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": 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The organization holding your account is considered to be the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you should have received an Internet Notice or voting instructions from the broker or other nominee holding your shares. You should follow the instructions in the Internet Notice or voting instructions provided by your broker or nominee in order to instruct your broker or other nominee on how to vote your shares. The availability of telephone and Internet voting will depend on the voting process of the broker or nominee. Please contact your bank, broker or other agent if you have questions about their instructions on how to vote your shares. Please also note that since you are not the stockholder of record, you may only vote your shares during the Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2024 to vote during the Annual Meeting. You will need the 16-Digit Control Number included on your Internet Notice, your proxy card (if you received a printed copy of the proxy materials) or the instructions that accompanied your proxy materials to join the Annual Meeting. If you do not provide your broker or bank with instructions on how to vote your shares, your broker or bank will be able to vote your shares with respect to the ratification of the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024 (Proposal 2) but not for Proposal 1 (Election of Directors) or Proposal 3 (Say-on-Pay vote). 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If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You may be required to provide a legal proxy from your bank or broker. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting, but will not be able to vote your shares. Instructions on how to connect and participate via the Internet are posted at www.virtualshareholdermeeting.com/OPEN2024. 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Please be sure to check in by 9:15 a.m. Pacific Time on June 14, 2024, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please call the phone number listed at www.virtualshareholdermeeting.com/OPEN2024." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b176", + "block_sequence": 176, + "block_sha256": "5050f4ab0635c4e9765ccc571486a0d5596b0c583d8a5fdd725121c6b9fcb089", + "block_type": "heading", + "char_count": 70, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 176, + "char_end": 70, + "char_start": 0, + "fragment_sha256": "fa2a193c2b68768580563df175bee3a524adc9e8a3052b3ea1b3735e3d0d1228", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Will there be a question and answer session during the Annual Meeting?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s53", + "table": null, + "text": "Will there be a question and answer session during the Annual Meeting?" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b177", + "block_sequence": 177, + "block_sha256": "5d532249fee8d139fb8aebfe07f53383d535ff434ca1070015f2bb894ab363d0", + "block_type": "paragraph", + "char_count": 1710, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 177, + "char_end": 1710, + "char_start": 0, + "fragment_sha256": "fc6b57e0d36f2113d61f2017aec4bef8bdad511ef505bff8c96cdc9f14b8e753", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Will there be a question and answer session during the Annual Meeting?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s53", + "table": null, + "text": "As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer questions submitted online during the meeting that are pertinent to the Company and the meeting matters, as time permits. Our Annual Meeting allows stockholders to submit questions and comments before and during the Annual Meeting. Only stockholders that have accessed the Annual Meeting as a stockholder by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things: \u2022 irrelevant to the business of the Company or to the business of the Annual Meeting; \u2022 related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; \u2022 related to any pending, threatened or ongoing litigation; \u2022 related to personal grievances; \u2022 derogatory references to individuals; \u2022 substantially repetitious of questions already made by another stockholder; \u2022 in excess of the two-question limit; \u2022 in furtherance of the stockholder\u2019s personal or business interests; or \u2022 out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the chair of the Annual Meeting or Secretary in their reasonable judgment. Additional information regarding the Q&A session will be available in the \u201cRules of Conduct\u201d posted at www.virtualshareholdermeeting.com/OPEN2024 for stockholders that have accessed the Annual Meeting as a stockholder (rather than a \u201cGuest\u201d) by following the procedures outlined above." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b178", + "block_sequence": 178, + "block_sha256": "ffa8405d0dfaa4986a478a93dd8509862f4bcd64cc8c7e85d9075f3049d335a1", + "block_type": "heading", + "char_count": 26, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 178, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "b648e6185690b0ddfd32ff052dfde69d15ca7694e6b80c00b02bdde85837ea5b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What are Broker Non-Votes?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s54", + "table": null, + "text": "What are Broker Non-Votes?" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b179", + "block_sequence": 179, + "block_sha256": "8712cdaab81da741111d8e0f5246ee3de748fd0157055f14ee54669983062192", + "block_type": "paragraph", + "char_count": 365, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 179, + "char_end": 365, + "char_start": 0, + "fragment_sha256": "8815ccc68d56380b9fa3938ee025744c3f089dc07e3b1c511a2845afb9fa0d39", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What are Broker Non-Votes?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s54", + "table": null, + "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. 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The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. Each other proposal to be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in \u201cstreet name\u201d for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b186", + "block_sequence": 186, + "block_sha256": "6e4b97e99275e02768d773d739c79f87cfebae64d0308415e32f2bcd58250c70", + "block_type": "heading", + "char_count": 169, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 186, + "char_end": 169, + "char_start": 0, + "fragment_sha256": "daeca66dab320eaa90d18bc8c5e27991a18529cc3deeec3c859b0370c6cd79f0", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s55", + "table": null, + "text": "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b187", + "block_sequence": 187, + "block_sha256": "fcbe3f03156169879ac24710e5326deead9863b03f91b2459e1a91358ba2c3a6", + "block_type": "paragraph", + "char_count": 540, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 187, + "char_end": 540, + "char_start": 0, + "fragment_sha256": "768cc3adecd4d8856b35cfc6a7ddafad97eba38fffae55521ddfc106b696a5c6", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s55", + "table": null, + "text": "If you are a stockholder of record and you do not specify your vote on each proposal individually when voting via the Internet, over the telephone or if you sign and return a proxy card without giving specific voting instructions, then your shares will be voted in line with the Board\u2019s recommendations as described under \u201cRecommendations of the Board\u201d above. If any other matter is properly presented at the Annual Meeting, your proxyholder (one of the individuals named on your proxy card) will vote your shares using their best judgment." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b188", + "block_sequence": 188, + "block_sha256": "d92342f899a6b672003bdcdf71089ebac8b783d57b20f55b9fd05e6fe7084de7", + "block_type": "heading", + "char_count": 126, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 188, + "char_end": 126, + "char_start": 0, + "fragment_sha256": "bdb662454c987ba5b6473746cb84baf1af1204f70516c9cdef3acbe9f2b9e5a6", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s56", + "table": null, + "text": "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b189", + "block_sequence": 189, + "block_sha256": "98b2bd782d89b2d131d7b49e45129247c3c12c30ac9f698d45b9db27fc2c65d3", + "block_type": "paragraph", + "char_count": 1035, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 189, + "char_end": 1035, + "char_start": 0, + "fragment_sha256": "79b5c0a52bb3a1994067a55255010a771b7d25b01c7c3573ec1f489a77d8cd81", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s56", + "table": null, + "text": "If you are a beneficial owner of shares registered in the name of your broker, bank or other agent, and you do not instruct your broker, bank or other agent how to vote your shares, your broker, bank or other agent may still be able to vote your shares in its discretion. In this regard, under the rules of the New York Stock Exchange (\u201cNYSE\u201d), brokers, banks and other securities intermediaries that are subject to NYSE rules may use their discretion to vote your \u201cuninstructed\u201d shares with respect to matters considered to be \u201croutine\u201d under NYSE rules, but not with respect to \u201cnon-routine\u201d matters. In this regard, Proposals 1 & 3 are considered to be \u201cnon-routine\u201d under NYSE rules meaning that your broker may not vote your shares on those proposals in the absence of your voting instructions. 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A proxy may be revoked before it is used to cast a vote at the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b193", + "block_sequence": 193, + "block_sha256": "9e58fb988b6e4a496035b5929bd7480ed9d085f8e0f77c4e1ab5568e125d2b05", + "block_type": "heading", + "char_count": 22, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 193, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "7877121715a175b085e9275aa712e395877bd33bad1ec69db3a1b5dac5730930", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?", + "Stockholders of Record" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s58", + "table": null, + "text": "Stockholders of Record" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b194", + "block_sequence": 194, + "block_sha256": "3d3e665d597baade1b16fcd2d2b6fd4a33473cfab69f20918190a5808bdaac0e", + "block_type": "paragraph", + "char_count": 804, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 194, + "char_end": 804, + "char_start": 0, + "fragment_sha256": "84554541b68eca161b7cca49d91f415f871b3421b47faec7f25e3ea18862ae0d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?", + "Stockholders of Record" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s58", + "table": null, + "text": "If the shares you own are held in your name, you can revoke a proxy by doing one of the following: \u2022 delivering to our Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; \u2022 duly executing a later-dated proxy relating to the same shares and delivering it to our Secretary before the taking of the vote; or \u2022 attending the Annual Meeting and voting electronically. 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Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. 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This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class I Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect. |\n| Proposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1) |\n| Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. | \u200b | \u200b | Abstentions and broker non-votes will have no effect. |", + "n_cols": 7, + "n_rows": 4, + "plain_text": "Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes\nProposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class I Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect.\nProposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1)\nProposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. | \u200b | \u200b | Abstentions and broker non-votes will have no effect.", + "rows": [ + [ + "Proposal", + "\u200b", + "\u200b", + "Votes Required", + "\u200b", + "\u200b", + "Effect of Votes Withheld/Abstentions and Broker Non-Votes" + ], + [ + "Proposal 1: Election of Directors", + "\u200b", + "\u200b", + "The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class I Directors.", + "\u200b", + "\u200b", + "Votes withheld and broker non-votes will have no effect." + ], + [ + "Proposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm", + "\u200b", + "\u200b", + "\u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter.", + "\u200b", + "\u200b", + "Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1)" + ], + [ + "Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d)", + "\u200b", + "\u200b", + "\u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter.", + "\u200b", + "\u200b", + "Abstentions and broker non-votes will have no effect." + ] + ], + "table_index": 9, + "table_kind": "data" + }, + "text": "Proposal | \u200b | \u200b | Votes Required | \u200b | \u200b | Effect of Votes Withheld/Abstentions and Broker Non-Votes\nProposal 1: Election of Directors | \u200b | \u200b | The plurality of the votes cast. This means that the three nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class I Directors. | \u200b | \u200b | Votes withheld and broker non-votes will have no effect.\nProposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. | \u200b | \u200b | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1)\nProposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) | \u200b | \u200b | \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. | \u200b | \u200b | Abstentions and broker non-votes will have no effect." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b207", + "block_sequence": 207, + "block_sha256": "5e15bd0cdc63339ab00e521a2b0f38002c98aeee286b65d103d4a7133ba37753", + "block_type": "paragraph", + "char_count": 335, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 207, + "char_end": 335, + "char_start": 0, + "fragment_sha256": "c1f29055a0a0c85c2de034c4f028843a77dd9a789b6547b436fbb4df25d3a63c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s61", + "table": null, + "text": "(1) Proposal 2 is considered to be a \u201croutine\u201d matter under NYSE rules. 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From December 2022 to March 2023, Ms. Hamilton was a Senior Advisor to Pretium Partners LLC, an alternative investment manager specializing in U.S. real estate and credit assets. From April 2017 until December 2022, Ms. Hamilton was a Senior Managing Director and Head of Real Estate for Pretium, where she oversaw significant growth in Pretium\u2019s single-family rental investment business. Ms. Hamilton is also the co-founder of Ameriton LLC, a real estate investment company, and has served as its President since October 2014. From October 2013 to October 2014, she served as President and Chief Executive Officer, and trustee, of Borderplex Community Trust. Prior thereto, Ms. Hamilton spent 20 years at Archstone, one of the largest apartment companies in the U.S. and Europe, until its sale to AvalonBay and Equity Residential in 2013, where she held numerous roles during her tenure, including President \u2013 Europe and Executive Vice President \u2013 National Operations. Ms. Hamilton previously served as a director of Life Storage, Inc. until the company merged with Extra Space Storage Inc. in July 2023, and FelCor Lodging Trust Incorporated from April 2016 until September 2017, when the company merged with RLJ Lodging Trust. Ms. Hamilton earned her B.A. in Public Policy from Stanford University and her M.B.A. in Real Estate and Finance from the Haas School of Business at the University of California, Berkeley. Skills and Qualifications: We believe that Ms. Hamilton is qualified to serve as a member of our Board because of her extensive experience in investment and operations across multiple real estate verticals, in particular the multifamily and single-family rental industries. Ms. Hamilton brings to the Board significant financial, transactional and asset management expertise, as well as extensive leadership and general management expertise. \u200b CIPORA HERMAN Director Since: 2020 Age: 50 Committee Memberships: \u2022 Audit (CHAIR) Other Public Company Boards: \u2022 ZipRecruiter, Inc. (Lead Independent Director; Audit (Chair) and Compensation Committees) \u200b \u200b Cipora Herman has served as a member of our Board since December 2020 and previously served as a member of the board of directors of SCH from May 2020 until the closing of our Business Combination with SCH in December 2020. Ms. Herman has served on the board of directors of ZipRecruiter, Inc., a publicly traded online employment marketplace company, since October 2018, where she also serves as the lead independent director, the chair of the audit committee and a member of the compensation committee. Previously, Ms. Herman served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028, from January 2021 to April 2022. Ms. Herman also served on the board of directors of MINDBODY, Inc., a software-as-a-service company, from October 2016 to February 2019. From 2012 to 2016, Ms. Herman served as the Chief Financial Officer of the San Francisco 49ers, a professional American football team. Prior to that, Ms. Herman served in various leadership roles in large online media and technology companies, including as Vice President & Treasurer of Facebook, Inc., from 2007 to 2012, and in various roles at Yahoo! Inc. from 2003 to 2007, including VP Finance and Treasurer. She also served on private company boards of directors, including Memery, Inc. (dba Overlay) from 2015 to January 2021. Ms. Herman received her A.B. degree in International Relations, M.A. degree in International Development Policy and M.B.A degree, each from Stanford University. 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Public Company Boards: \u2022 Hashicorp, Inc. (Compensation (Chair) and Nominating and Corporate Governance Committees) \u200b \u200b Glenn Solomon has served as a member of our Board since December 2020 and served as a member of the board of directors of Opendoor Labs Inc. from February 2015 to December 2020. Mr. Solomon has been a Managing Partner of Notable Capital (formerly known as GGV Capital), a venture capital firm, since 2006, and a director of Hashicorp, Inc., a publicly traded software company, since September 2014, where he also serves as chair of the compensation committee and as a member of the nominating and corporate governance committee. He also serves as a director of a number of privately held companies and previously served as a director of Domo, Inc., a cloud software company, from August 2017 to March 2019. Mr. Solomon received his B.A. degree in Public Policy and M.B.A. from Stanford University. Skills and Qualifications: We believe that Mr. Solomon is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies. \u200b" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b243", + "block_sequence": 243, + "block_sha256": "d48ed808943733f2a2ef2cbe7f0771dfe14edc2ce2ad3153fcc4f12c1810d71f", + "block_type": "heading", + "char_count": 41, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 243, + "char_end": 41, + "char_start": 0, + "fragment_sha256": "dc91e0c26b71044d1b48c22b79896da72a14f39b7daadd71056d799fe71dc16f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class II directors (terms ending in 2025)" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s70", + "table": null, + "text": "Class II directors (terms ending in 2025)" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b244", + "block_sequence": 244, + "block_sha256": "6df1b0563da681ec96d0a83b60dc6d6450e3a55f2326e85e9564abff5ae99b0d", + "block_type": "paragraph", + "char_count": 1569, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 244, + "char_end": 1569, + "char_start": 0, + "fragment_sha256": "d26f80bb13c58168856636c167c444f71e8ecde74e81b40cf81092b110a6dc36", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class II directors (terms ending in 2025)" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s70", + "table": null, + "text": "ADAM BAIN Director Since: 2020 Age: 50 Committee Memberships: \u2022 Compensation \u2022 Nominating Other Public Company Boards: \u2022 None \u200b \u200b Adam Bain has served as a member of our Board since December 2020, prior to which he served as a member of SCH\u2019s board of directors. Mr. Bain is a co-founder and has served as co-Managing Partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since January 2018. Mr. Bain served as a director of Social Capital Hedosophia Holdings Corp., which was a publicly traded special purpose acquisition company, from September 2017 until the consummation of its business combination with Virgin Galactic Holdings, Inc., a publicly traded spaceflight company, in October 2019, where he served as a member of the board of directors from October 2019 to June 2023 and as chair of the nominating and corporate governance committee and a member of the compensation committee until May 2023. Since November 2016, Mr. Bain has also been an independent advisor and investor in select privately held growth-stage companies. Previously, from 2015 to November 2016, Mr. Bain served as the Chief Operating Officer of Twitter, Inc., a publicly traded social media company, and also served as President of Global Revenue & Partnerships from 2010 to 2015. Mr. Bain received his B.A. degree in English Journalism from Miami University in Ohio. 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(Compensation and Nominating and Corporate Governance (Chair) Committees) \u200b \u200b Pueo Keffer has served as a member of our Board since December 2020 and served as a member on the board of directors of Opendoor Labs Inc. from October 2015 to December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, Inc. since 2015. From 2009 to 2015, Mr. Keffer served in various roles at Redpoint Ventures, most recently as a Partner. Since 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a publicly traded cloud computing platform company, where he serves as a chair of the nominating and corporate governance committee and member of the compensation committee. He also serves on the board of directors of two privately held companies. Previously, Mr. Keffer was an associate at TA Associates, a growth private equity firm, and a financial analyst at Goldman Sachs & Co. Mr. Keffer received his B.A. degree in Economics from Stanford University. Skills and Qualifications: We believe that Mr. Keffer is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies and his financial experience. \u200b JOHN RICE Lead Independent Director Director Since: 2021 Age: 57 Committee Memberships: \u2022 Nominating Other Public Company Boards: \u2022 Walker & Dunlop, Inc. (Nominating and Corporate Governance (Chair) and Compensation Committees) \u200b \u200b John Rice has served as a member of our board of directors since March 2021. Mr. Rice is the founder and Chief Executive Officer of Management Leadership for Tomorrow (\u201cMLT\u201d), a national non-profit organization founded in 2001 that closes racial wealth gaps by elevating the career and economic trajectory of people of color and by advancing racially equitable employer practices. Prior to MLT, Mr. Rice was an executive with the National Basketball Association (\u201cNBA\u201d) from 1996 to 2000, where he served in various roles, including as Managing Director of NBA Japan and as Director of Marketing for Latin America. Prior to that, Mr. Rice spent four years with the Walt Disney Company in new business development and marketing and two years with AT&T. Since 2010, Mr. Rice has served as a member of the board of directors of Walker & Dunlop, Inc. a publicly traded real estate finance company, where he also serves as chair of the nominating and corporate governance committee and as a member of the compensation committee. He also serves on the board of directors of Morgan Stanley Real Estate\u2019s Prime Property Fund, a privately held diversified real estate fund. Mr. Rice was also a member of the Yale University Board of Trustees from 2011 to 2023. Mr. Rice received his B.A. degree from Yale University and M.B.A. degree from Harvard Business School. 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She previously served as our Chief Financial Officer from September 2020 to December 2022. Ms. Wheeler also previously served as a member of our Board from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler has served on the board of directors and on the audit committee of APi Group Corporation, a global provider of safety and specialty services, since November 2019 and on the board of directors of TKO Group Holdings, where she is also chairperson of the audit committee, since September 2023. She previously served on the board and audit committee of Dollar Tree, Inc. from March 2019 to March 2022. Ms. Wheeler has also served on a number of other corporate boards of private and public companies, including Neiman Marcus Group (2005 to 2013) and Petco Animal Supplies (2006 to 2015). Ms. Wheeler received her Bachelor of Commerce degree from Queen\u2019s University in Canada. Skills and Qualifications: We believe that Ms. Wheeler is qualified to serve as a member of our Board because of her extensive experience in a leadership role at a global private equity firm, as well as her experience with our Company as our Chief Executive Officer and former Chief Financial Officer, and her wealth of experience across different industries. \u200b JASON KILAR Director Since: 2020 Age: 52 Committee Memberships: \u2022 Nominating (CHAIR) Other Public Company Boards: \u2022 Roblox Corporation (Audit and Compensation Committees) \u200b \u200b Jason Kilar has served as a member of our Board since December 2020 and served as a member of the board of directors of Opendoor Labs Inc. from March 2019 to December 2020. Previously, Mr. Kilar served as the Chief Executive Officer of Warner Media, LLC, a media and entertainment subsidiary of its public company parent, Warner Bros. Discovery, Inc. from May 2020 to April 2022. Prior to that, Mr. Kilar co-founded and served as the Chief Executive Officer of Vessel Group, Inc., a video platform company, from 2013 to 2017. Prior to Vessel, Mr. Kilar co-founded and served as the Chief Executive Officer of Hulu, LLC, a streaming service company, from 2007 to 2013. Mr. Kilar also served in a variety of senior leadership roles with Amazon.com, Inc., an e-commerce technology company, from 2002 to 2006, including as Senior Vice President, Worldwide Application Software, and Vice President and General Manager of Amazon\u2019s North American media businesses. Mr. Kilar has served on the board of directors of Roblox Corporation, a publicly traded video game development company, since September 2023, where he is a member of the audit and compensation committees. Mr. Kilar also served on the board of directors and audit committee of DreamWorks Animation SKG, Inc., a publicly traded animation studio, from May 2013 until its acquisition by NBCUniversal in August 2016. He has also served on various other private company boards of directors, including Univision Communications Inc. from September 2016 to April 2020 and Brighter Inc. from 2013 until its acquisition by Cigna Corporation in 2017. Mr. Kilar received his B.A. degree in Journalism and Business Administration from University of North Carolina at Chapel Hill and M.B.A. degree from Harvard Business School. 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As set forth in our Certificate of Incorporation, the Board is currently divided into three classes with staggered, three-year terms. At each annual meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following election. Our Certificate of Incorporation provides that the authorized number of directors may be changed only by resolution of our Board in accordance with our Amended & Restated Bylaws. Any additional directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. The division of our Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control of our Company. Our directors may be removed only for cause by the affirmative vote of the holders of at least a majority in voting power of the outstanding shares of our capital stock entitled to vote in the election of directors. AnchorConsideration of Board Diversity The Company believes that a Board made up of highly qualified individuals from diverse backgrounds promotes better corporate governance and performance and effective decision-making. The Board and the Nominating Committee are committed to ensuring the Board functions effectively and with appropriate diversity and expertise. Of our directors, 50% self-identify as having diverse characteristics, and three of our eight directors are women. 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Our Board consults with the Company\u2019s inside and outside counsel to ensure that the Board\u2019s determinations are consistent with relevant securities and other laws and regulations regarding the definition of \u201cindependent,\u201d including those set forth in pertinent listing standards of Nasdaq, as in effect from time to time. Consistent with these considerations, after review of all relevant identified transactions or relationships between each director, or any of their family members, and the Company, its senior management and its independent auditors, the Board has affirmatively determined that each of Adam Bain, Dana Hamilton, Cipora Herman, Pueo Keffer, Jason Kilar, John Rice and Glenn Solomon, along with our former director Jonathan Jaffe, who resigned effective December 31, 2023, each qualify as \u201cindependent\u201d in accordance with the listing requirements of Nasdaq. 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Based on this review, our Board has determined that all of our non-employee directors, who are listed above, meet the applicable criteria for independence established by Nasdaq. Carrie Wheeler does not qualify as independent under the Nasdaq rules due to her current and prior employment at Opendoor, and our former director Eric Wu, who resigned from his positions as member of the Board and President, Marketplace, effective January 1, 2024, did not qualify as independent under the Nasdaq rules due to his prior employment at Opendoor." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b282", + "block_sequence": 282, + "block_sha256": "242b7052233a683b3cd6d1885a79d53ef16be865ccf27be40a06ac03f1c024ab", + "block_type": "heading", + "char_count": 32, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 282, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "d647b2961007e4b6433113cb3ff5c575a37c050015400f4a20277ec2cb341cf7", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s75", + "table": null, + "text": "AnchorBoard Leadership Structure" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b283", + "block_sequence": 283, + "block_sha256": "ca8a28765c6a313b323be8851cc9e81338b48e34429763ce4c9b65b3636af2ec", + "block_type": "paragraph", + "char_count": 1860, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 283, + "char_end": 1860, + "char_start": 0, + "fragment_sha256": "448deecd26b0f19b31b4d41397660767621bfcd2441381ed3915dc345bef24d2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Leadership Structure" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s75", + "table": null, + "text": "Our Corporate Governance Guidelines provide that a \u201clead independent director\u201d may be appointed from among the independent directors. The Board has a lead independent director, John Rice, who has authority, among other things, to call and preside over Board meetings, including meetings of the independent directors, to set meeting agendas and to determine materials to be distributed to the Board. Accordingly, the lead independent director has substantial ability to shape the work of the Board. We presently do not have a director serving in the position of board chair. The Company believes that, going forward, in the event the Board does elect a board chair, separation of the positions of board chair and CEO (or appointing a lead independent director in lieu of an independent board chair) reinforces the independence of the Board in its oversight of the business and affairs of the Company. In addition, the Company believes that having a lead independent director (or independent board chair) creates an environment that is more conducive to objective evaluation and oversight of management\u2019s performance, increasing management accountability and improving the ability of the Board to monitor whether management\u2019s actions are in the best interests of the Company and its stockholders. As a result, the Company believes that having a lead independent director (or independent board chair) can enhance the effectiveness of the Board as a whole. However, there is no fixed requirement in our Corporate Governance Guidelines that our board chair and CEO positions be separate, or that our board chair be an employee or elected from among non-employee directors. We believe that it is in the best interests of the Company to maintain the flexibility to evaluate our leadership structure over time as part of Opendoor\u2019s ongoing succession planning process." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b284", + "block_sequence": 284, + "block_sha256": "4f1d5771647cb111baddb8e91bf86bbb2605e4aaddbdc12734dbe1a7fee568de", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 284, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "002752e198b7851dc83ebdfaf944e08bdb9667d6a06865fd77ceb9a4ee2eb2f1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": 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"e4c9b62a2c5a172d77ab13e09172c97d280954de13bca964c41e079a853c7ca1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard\u2019s Role in Risk Oversight" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s76", + "table": null, + "text": "The Board recognizes that the achievement of our strategic and commercial objectives involves taking risks and that those risks may evolve over time. The Board has oversight responsibility for Opendoor\u2019s risk management function, which is designed to identify, assess and monitor fundamental financial and business risks across the Company\u2019s operations and consider ways to address and mitigate those risks. Consistent with this approach, one of the Board\u2019s primary responsibilities includes reviewing assessments of, and advising management with respect to, significant risks and issues facing the Company. In addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. \u2022 The Audit Committee (i) reviews and discusses guidelines, programs, and policies (a) governing the process by which senior management assesses and manages the Company\u2019s exposure to risk, as well as the Company\u2019s major financial risk exposures, and (b) relating to cybersecurity, data privacy, and other risks relevant to our information systems and security, and, in each case, the steps management has taken to monitor, mitigate and control such exposures, and (ii) reviews with management and our auditors any contingent liabilities and risks that may be material to the Company, including risks relating to relevant legislative and regulatory developments; \u2022 The Compensation Committee, in approving and evaluating the Company\u2019s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company\u2019s compensation arrangements; and \u2022 The Nominating Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. 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During 2023, the Board held five meetings and all directors attended 97% or more of the aggregate number of Board meetings and meetings of the committees on which they then served. We do not maintain a formal policy regarding director attendance at our annual meetings; however, it is expected that directors will attend. Eight out of the nine Board members then serving attended the 2023 Annual Meeting of Stockholders. 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Succession Planning", + "AnchorBoard Meetings and Executive Sessions", + "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s80", + "table": null, + "text": "Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating Committee will evaluate whether incumbent directors possess the requisite skills and perspective, both individually and collectively. In addition, the Board will review those directors\u2019 overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors\u2019 independence. The Nominating Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating Committee reviews the backgrounds of those candidates, evaluates candidates\u2019 independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating Committee for candidates for election as a director. The Board believes effective management succession planning, particularly for the CEO, is important to our continued success. At least annually, the Compensation Committee discusses our management succession plans for our key executive officers. Our succession plan includes appropriate contingencies in case the CEO or another key executive officer retires, resigns, dies, or is incapacitated, across multiple time periods. In addition, alternative succession plans are evaluated under multiple strategic and operating scenarios. The Board, with the assistance of the Compensation Committee, will evaluate potential successors to the CEO and other key executive officers. The CEO contributes to these evaluations by making available her recommendations and evaluations of potential successors, along with a review of any recommended development plans. AnchorStockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288, Attention: Sydney Schaub, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others. AnchorStockholder Engagement Opendoor engages with stockholders and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to stockholders. This engagement helps us better understand evolving stockholder priorities and perspectives, gives us an opportunity to elaborate upon our initiatives with relevant experts, and fosters constructive dialogue. As we continue to grow as a public company, we will continue to engage with our stockholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with our stockholders to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance, business practices and public disclosures. 22 \u200b \u200b Opendoor Technologies Inc. // 2024 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b304", + "block_sequence": 304, + "block_sha256": "e8d37f7bf9abdc4c51d87dd00716baf2938b5343159e4492eaaaa8abfba420fd", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 304, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "6bcc51cbf69a15f59546215a29a38e26e5ca32e8e438cead193381fd2ba796f3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Meetings, Continued Education and Succession 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TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Meetings, Continued Education and Succession Planning", + "AnchorBoard Meetings and Executive Sessions", + "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s80", + "table": null, + "text": "AnchorCommunications from Stockholders Our Board currently does not have a formal process for stockholders to send communications to the Board. Nevertheless, the Board will give appropriate attention to written communications that are submitted by stockholders, and will respond if and as appropriate. Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Secretary and chair (or lead independent director) of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Sydney Schaub, Secretary, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288. AnchorStock Ownership Guidelines Our Board has established stock ownership guidelines for our executive officers and directors. Within five years of the establishment of the guidelines (or becoming subject to the guidelines, if later) our CEO is required to hold the lesser of vested shares of the Company\u2019s common stock equal to six times annual base salary, or 450,000 shares; other executive officers are required to hold the lesser of vested shares of the Company\u2019s common stock equal to three times annual base salary, or 225,000 shares; and directors are required to hold the lesser of shares of the Company\u2019s common stock equal to five times their annual cash retainer or 60,000 shares. Only issued shares are counted toward satisfaction of the ownership requirement. Accordingly, unvested equity awards (including both time- and performance-based) and unexercised stock options, if any, do not count toward satisfying the executive stock ownership requirement. While our \u201cnamed executive officers\u201d (\u201cNEOs\u201d) and directors are still within the five-year period to accumulate their ownership holdings, when measured as of December 31, 2023, each of our directors, with the exception of Ms. Hamilton, who has until November 2028 to meet the ownership requirement, and each of our NEOs, other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023), have met the specified levels of ownership. AnchorCorporate Governance Documents & Policies We believe that good corporate governance is important to ensure that Opendoor is managed for the long-term benefit of our stockholders. Our Nominating Committee will periodically review and reassess our Corporate Governance Guidelines, other governance documents and overall governance structure. Our Corporate Governance Guidelines are available in the \u201cCorporate Governance\u201d section of our website at https://investor.opendoor.com. References to our website address throughout this proxy statement are for informational purposes only, or to fulfill specific disclosure requirements of the SEC\u2019s rules. These references are not intended to, and do not, incorporate the contents of our website by reference into this proxy statement. AnchorCode of Conduct The Board has adopted the Code of Conduct, which applies to all of our employees, officers and directors. Our Code of Conduct is available in the \u201cCorporate Governance\u201d section of our website at https://investor.opendoor.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct. AnchorWhistleblower Policy The Board has adopted a Whistleblower Policy applicable to its employees that provides for protection from retaliation or discrimination by Opendoor due to reporting issues relating to concerns involving questionable accounting or auditing matters and compliance with applicable laws and regulations. AnchorProhibitions on Hedging, Pledging and Short-Term Speculative Transactions Our Board has adopted an Insider Trading Policy, which applies to all of our directors, officers and employees. Our directors, officers and employees are prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. 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See \u201cProposal 1 \u2014 Election of Directors\u201d for more information about Ms. Wheeler. Christina Schwartz has served as our interim Chief Financial Officer since December 2022 and our Chief Accounting Officer since March 2021. Prior to that, she served as the Company\u2019s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. Megan Meyer Toolson has served as our President, Sell Direct and Services since December 2022. Prior to that, since 2015, she has served in roles of increasing responsibility at Opendoor, including as our Chief Customer Officer from March 2021 to December 2022 and our Vice President, Operations GM from December 2020 to March 2021. Ms. Meyer Toolson received her M.B.A. degree from Stanford University, M.S. degree in Professional Accounting from the University of Texas at Austin and B.A. degree in Business Administration from the University of Texas at Austin. Sydney Schaub has served as our Chief Legal Officer since September 2022. Prior to joining the Company, Ms. Schaub served as Chief Legal Officer, General Counsel and Corporate Secretary of Gemini Trust Company, LLC, a regulated digital asset exchange and custodian, from October 2018 to September 2022. Prior to that, she served as General Counsel and Corporate Secretary at Rent the Runway, Inc. from May 2017 to October 2018 and Associate General Counsel at Square, Inc. from January 2016 to April 2017. 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In 2014, we founded Opendoor to reinvent one of life\u2019s most important transactions and make it possible to buy, sell, and move at the tap of a button. By leveraging software, data science, product design and operations, we are building a managed technology platform for residential real estate that offers buyers and sellers a digital, on-demand experience that we believe will be the future of how people buy or sell a home. \u2022 Since launch, customers have demonstrated their desire for our digital, on-demand real estate solution with over 246,000 homes bought and sold by Opendoor across the United States. \u2022 In 2023, we sold over 18,700 homes and generated $6.9 billion in revenue, the latter of which represents a compound annual growth rate of over 45% since 2017. \u2022 Importantly, we have achieved this growth while continuing to delight customers, maintaining an annual average Net Promoter Score of nearly 80 from our sellers since 2021. Our mission is straightforward: to power life\u2019s progress, one move at a time. Residential real estate is a trillion-dollar industry underpinned by a process that is complicated, time-consuming, stressful, and offline. We believe all consumers deserve to buy, sell, and move between homes with simplicity and confidence, and we have dedicated almost a decade to delivering on this vision. We have built unique pricing and operations capabilities to become one of the largest buyers and sellers of homes in the United States. Since our founding, we have expanded our footprint to 50 markets across the country." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b351", + "block_sequence": 351, + "block_sha256": "17da648b6f9f39b0d9240bedd22c3a14f41f0a67c9d85fa40aaeb9b0bfdce285", + "block_type": "heading", + "char_count": 70, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 351, + "char_end": 70, + "char_start": 0, + "fragment_sha256": "80df636cb57037a40d06b8f6ddbdcbe8c924d07429aac972ad0e0ac7a55d5650", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", + "table": null, + "text": "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b352", + "block_sequence": 352, + "block_sha256": "a9a166cd48c651a418990c26b9d31ed00585de65f77a49966c060c9c0c272151", + "block_type": "paragraph", + "char_count": 1581, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 352, + "char_end": 1581, + "char_start": 0, + "fragment_sha256": "1327b97e9242227787bd65c24702e2ec985b046ad22fcb66d37ac1665e9383ec", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", + "table": null, + "text": "The Compensation Committee and full Board take the outcome of our annual Say-on-Pay vote seriously and are focused on gathering and responding to our stockholders\u2019 feedback regarding the Company\u2019s executive compensation programs. As part of its compensation-setting process, the Compensation Committee considers the results of the stockholder advisory vote on our executive compensation from the prior year. Approximately 75% of the votes cast at our 2023 Annual Meeting of Stockholders were voted in favor of our executive compensation, as compared to approximately 62% the prior year. Following our 2022 Annual Meeting of Stockholders, we launched a robust stockholder outreach campaign with key institutional investors. Our Compensation Committee noted the year-over-year increase in stockholder support resulting from these efforts, and we continued our engagement efforts following our 2023 Annual Meeting of Stockholders to seek actionable feedback that could be incorporated in the Compensation Committee\u2019s discussions and decision-making going forward. Since fiscal 2022, we have reached out to stockholders collectively representing over 37% of non-affiliated outstanding shares, and had conversations with stockholders collectively representing over 35% of non-affiliated outstanding shares (each as of January 5, 2024), about issues of importance to them, including executive compensation, corporate governance matters, human capital, and our approach to environmental and social issues. In each meeting, company participation typically included our Chief Legal Officer," + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b353", + "block_sequence": 353, + "block_sha256": "d16b9ce7683255b087e763b1c077f6277d621896bc17eb65943cf28d7f115f22", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 353, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "b07cfcba75c82cb7d0cb666a3c6a4a3eb66f76508c315381b055c01c8cd95b56", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", + "table": null, + "text": "Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 29" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b354", + "block_sequence": 354, + "block_sha256": "a36f0bd79e521a1a3468ccc3d7796144862034c7e6ae128e509e628dc7c5a667", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 354, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "27efa991a421c2f75241698784c276ce42ed430748db1154a0b58bde28aa68b5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": 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"norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b358", + "block_sequence": 358, + "block_sha256": "8fad946761347288c3437e76c560c03c53f118ea0a70ec47ea6d1c05d57822d8", + "block_type": "paragraph", + "char_count": 903, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 358, + "char_end": 903, + "char_start": 0, + "fragment_sha256": "64b8a5566a12ffb23ceaf4333b3fc8f04b8870a90681061793ba55112db79c05", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", + "table": null, + "text": "our Chief People Officer and the chair of the Compensation Committee. In these meetings, we received valuable feedback regarding the strengths of our executive compensation program as well as areas for improvement as we mature as a publicly-traded company. The Compensation Committee is committed to understanding and being responsive to stockholder sentiment. The table below summarizes the specific feedback we received and the steps our Compensation Committee and the Board have taken to address this feedback as well as the other changes we have made to our executive compensation program in 2024 to further link executive compensation opportunities to Company performance. These actions were informed by stockholder feedback during the meetings described above, the results of the Company\u2019s 2023 Say-on-Pay vote, and consultations with the Compensation Committee\u2019s independent compensation advisor." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b359", + "block_sequence": 359, + "block_sha256": "6bec6a5f16b3a5c20fb60e7b69ea18046bd1efdebd164516e157b4eb20110d0b", + "block_type": "table", + "char_count": 2794, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 359, + "char_end": 2794, + "char_start": 0, + "fragment_sha256": "33e208439f1b0db1a3d54b654f3ee9d9fa5869bb49fed7c18f3824d9e59030cc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach" + ], + "table_index": 15, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.3, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| What Stockholders Said: | \u200b | \u200b | Action We Took: |\n| Executive Compensation: | \u200b | \u200b | |\n| | \u200b | \u200b | |\n| Compensation philosophy and use of discretion in executive compensation decisions is not clearly outlined, and executive compensation program lacks performance-based components with clearly defined m\u2026 | \u200b | \u200b | As noted below under \u201cCompensation Philosophy and Objectives,\u201d we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2023. In addition, c\u2026 |\n| | \u200b | \u200b | |\n| The company\u2019s peer group and rationale for selection is not described. | \u200b | \u200b | As noted below under \u201cPeer Group and Competitive Positioning,\u201d we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics\u2026 |\n| | \u200b | \u200b | |\n| There is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | \u200b | \u200b | As discussed below under \u201cStock Ownership Guidelines,\u201d we maintain stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. Under our stock owne\u2026 |", + "n_cols": 4, + "n_rows": 8, + "plain_text": "What Stockholders Said: | \u200b | \u200b | Action We Took:\nExecutive Compensation: | \u200b | \u200b | \n | \u200b | \u200b | \nCompensation philosophy and use of discretion in executive compensation decisions is not clearly outlined, and executive compensation program lacks performance-based components with clearly defined metrics. | \u200b | \u200b | As noted below under \u201cCompensation Philosophy and Objectives,\u201d we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2023. In addition, commencing in 2024, our Compensation Committee implemented new elements to our executive compensation program to further align our executive compensation program to company performance and long-term stockholder value by adopting a performance-based annual bonus plan that aligns payouts to achievement of pre-established corporate performance goals approved by the Compensation Committee, and granting certain named executive officers long-term equity incentives in the form of performance-based restricted stock units (\u201cPRSUs\u201d), which are subject to achievement of objectives related to homes acquired and homes sold, as further described below under \u201cKey Changes to Executive Compensation Program for 2024.\u201d\n | \u200b | \u200b | \nThe company\u2019s peer group and rationale for selection is not described. | \u200b | \u200b | As noted below under \u201cPeer Group and Competitive Positioning,\u201d we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics used to evaluate peers for selection.\n | \u200b | \u200b | \nThere is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | \u200b | \u200b | As discussed below under \u201cStock Ownership Guidelines,\u201d we maintain stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. Under our stock ownership guidelines, within five years of the establishment of the guidelines, the applicable individuals must comply with the following minimum required thresholds of ownership: \u2022 Non-Employee Directors \u2014 the lesser of 5 times annual cash retainer or 60,000 shares; \u2022 Chief Executive Officer \u2014 the lesser of 6 times base salary or 450,000 shares; and \u2022 Section 16 Officers (other than CEO) and any other executives designated as participants \u2014 the lesser of 3 times base salary or 225,000 shares. While our NEOs and directors are still within the five-year period to accumulate their ownership holdings, when measured as of December 31, 2023, each of our directors, with the exception of Ms. Hamilton, who has until November 2028 to meet the ownership requirement, and each of our NEOs, other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023), have met the specified levels of ownership.", + "rows": [ + [ + "What Stockholders Said:", + "\u200b", + "\u200b", + "Action We Took:" + ], + [ + "Executive Compensation:", + "\u200b", + "\u200b", + "" + ], + [ + "", + "\u200b", + "\u200b", + "" + ], + [ + "Compensation philosophy and use of discretion in executive compensation decisions is not clearly outlined, and executive compensation program lacks performance-based components with clearly defined metrics.", + "\u200b", + "\u200b", + "As noted below under \u201cCompensation Philosophy and Objectives,\u201d we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2023. In addition, commencing in 2024, our Compensation Committee implemented new elements to our executive compensation program to further align our executive compensation program to company performance and long-term stockholder value by adopting a performance-based annual bonus plan that aligns payouts to achievement of pre-established corporate performance goals approved by the Compensation Committee, and granting certain named executive officers long-term equity incentives in the form of performance-based restricted stock units (\u201cPRSUs\u201d), which are subject to achievement of objectives related to homes acquired and homes sold, as further described below under \u201cKey Changes to Executive Compensation Program for 2024.\u201d" + ], + [ + "", + "\u200b", + "\u200b", + "" + ], + [ + "The company\u2019s peer group and rationale for selection is not described.", + "\u200b", + "\u200b", + "As noted below under \u201cPeer Group and Competitive Positioning,\u201d we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics used to evaluate peers for selection." + ], + [ + "", + "\u200b", + "\u200b", + "" + ], + [ + "There is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines.", + "\u200b", + "\u200b", + "As discussed below under \u201cStock Ownership Guidelines,\u201d we maintain stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. Under our stock ownership guidelines, within five years of the establishment of the guidelines, the applicable individuals must comply with the following minimum required thresholds of ownership: \u2022 Non-Employee Directors \u2014 the lesser of 5 times annual cash retainer or 60,000 shares; \u2022 Chief Executive Officer \u2014 the lesser of 6 times base salary or 450,000 shares; and \u2022 Section 16 Officers (other than CEO) and any other executives designated as participants \u2014 the lesser of 3 times base salary or 225,000 shares. While our NEOs and directors are still within the five-year period to accumulate their ownership holdings, when measured as of December 31, 2023, each of our directors, with the exception of Ms. Hamilton, who has until November 2028 to meet the ownership requirement, and each of our NEOs, other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023), have met the specified levels of ownership." + ] + ], + "table_index": 15, + "table_kind": "unknown" + }, + "text": "What Stockholders Said: | \u200b | \u200b | Action We Took:\nExecutive Compensation: | \u200b | \u200b | \n | \u200b | \u200b | \nCompensation philosophy and use of discretion in executive compensation decisions is not clearly outlined, and executive compensation program lacks performance-based components with clearly defined metrics. | \u200b | \u200b | As noted below under \u201cCompensation Philosophy and Objectives,\u201d we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2023. In addition, commencing in 2024, our Compensation Committee implemented new elements to our executive compensation program to further align our executive compensation program to company performance and long-term stockholder value by adopting a performance-based annual bonus plan that aligns payouts to achievement of pre-established corporate performance goals approved by the Compensation Committee, and granting certain named executive officers long-term equity incentives in the form of performance-based restricted stock units (\u201cPRSUs\u201d), which are subject to achievement of objectives related to homes acquired and homes sold, as further described below under \u201cKey Changes to Executive Compensation Program for 2024.\u201d\n | \u200b | \u200b | \nThe company\u2019s peer group and rationale for selection is not described. | \u200b | \u200b | As noted below under \u201cPeer Group and Competitive Positioning,\u201d we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics used to evaluate peers for selection.\n | \u200b | \u200b | \nThere is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | \u200b | \u200b | As discussed below under \u201cStock Ownership Guidelines,\u201d we maintain stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. Under our stock ownership guidelines, within five years of the establishment of the guidelines, the applicable individuals must comply with the following minimum required thresholds of ownership: \u2022 Non-Employee Directors \u2014 the lesser of 5 times annual cash retainer or 60,000 shares; \u2022 Chief Executive Officer \u2014 the lesser of 6 times base salary or 450,000 shares; and \u2022 Section 16 Officers (other than CEO) and any other executives designated as participants \u2014 the lesser of 3 times base salary or 225,000 shares. While our NEOs and directors are still within the five-year period to accumulate their ownership holdings, when measured as of December 31, 2023, each of our directors, with the exception of Ms. Hamilton, who has until November 2028 to meet the ownership requirement, and each of our NEOs, other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023), have met the specified levels of ownership." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b360", + "block_sequence": 360, + "block_sha256": "ba5131532025e7e9cd1ea16c5c6190d1f01551d3f7312eb4d2bed4505a2734e0", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 360, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "4002bb7679f189d2917708b01ed5ffb0660bca3f42ddec7b60a9b43a9f3a7719", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + 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The January 2023 award to Ms. Wheeler in connection with her promotion to CEO, which represents Ms. Whee\u2026 |\n| | \u200b | \u200b | |\n| Corporate Governance: | \u200b | \u200b | |\n| | \u200b | \u200b | |\n| The Board lacks adequate gender diversity. | \u200b | \u200b | We appointed an additional female director to the Board during 2023, and our Board is now composed of over 37% female directors. |", + "n_cols": 4, + "n_rows": 7, + "plain_text": "What Stockholders Said: | \u200b | \u200b | Action We Took:\n | \u200b | \u200b | We have implemented a clawback policy as required by Nasdaq listing rules that requires the recovery of incentive-based compensation in the event of a restatement.\nThere is a lack of rationale for large executive equity award grants and it is unclear whether such grants represent multiple years of equity compensation. | \u200b | \u200b | We carefully consider the appropriate mix of compensation delivered to our executive officers. The January 2023 award to Ms. Wheeler in connection with her promotion to CEO, which represents Ms. Wheeler\u2019s only equity grant in both fiscal 2023 and 2024, was approved by our Compensation Committee taking into consideration the data provided by our independent compensation consultant and a review of the pay practices of our peer group and a broader view of technology based companies that recently appointed a CEO. The award also aligns Ms. Wheeler\u2019s compensation to long-term stockholder value creation. None of our other named executive officers received equity awards during 2023. Commencing in 2024, our Compensation Committee implemented changes to our executive compensation program to further align our executive compensation program to company performance and long-term stockholder value. In addition to our existing practice of issuing time-based RSUs (\u201cTRSUs\u201d), the Committee granted our named executive officers (other than our CEO) long-term equity incentives in the form of performance-based restricted stock units (\u201cPRSUs\u201d), as further described below under \u201cKey Changes to Executive Compensation Program for 2024.\u201d\n | \u200b | \u200b | \nCorporate Governance: | \u200b | \u200b | \n | \u200b | \u200b | \nThe Board lacks adequate gender diversity. | \u200b | \u200b | We appointed an additional female director to the Board during 2023, and our Board is now composed of over 37% female directors.", + "rows": [ + [ + "What Stockholders Said:", + "\u200b", + "\u200b", + "Action We Took:" + ], + [ + "", + "\u200b", + "\u200b", + "We have implemented a clawback policy as required by Nasdaq listing rules that requires the recovery of incentive-based compensation in the event of a restatement." + ], + [ + "There is a lack of rationale for large executive equity award grants and it is unclear whether such grants represent multiple years of equity compensation.", + "\u200b", + "\u200b", + "We carefully consider the appropriate mix of compensation delivered to our executive officers. 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"div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s86", + "table": null, + "text": "In response to the stockholder and other feedback we gathered in 2023, the Compensation Committee felt it appropriate to revisit our compensation philosophy and the programs put in place to uphold it. In 2024, we have made two key changes to our executive compensation program to further align executive compensation with the interest of the Company\u2019s stockholders, and to help to incentivize our NEOs to work towards key corporate performance objectives tied to company performance. As reflected below, through the implementation of these changes, we are gradually introducing at-risk elements of pay and ensuring these are directly tied to outcomes that drive company performance and increase stockholder value. The following table summarizes (i) the approximate ratio of total performance based and non-performance based compensation for our NEOs in fiscal 2023 and (ii) the expected approximate ratio of total at risk and not at risk compensation for our NEOs in fiscal 2024, each on an aggregate basis." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b374", + "block_sequence": 374, + "block_sha256": "032443a02440ed0f1d208b4057eb351a5341161b9f14366513c19475707b4dd9", + "block_type": "paragraph", + "char_count": 2091, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 374, + "char_end": 2091, + "char_start": 0, + "fragment_sha256": "fb52272872f7256986a940ae3a7f8a1873a44064ce27ff083818e5a0ad9e20bd", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Key Changes to Executive Compensation Program for 2024" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s86", + "table": null, + "text": "(1) Non-Performance based pay includes base salary, non-performance based bonuses, such as retention or sign on bonuses, and TRSUs. (2) Performance based pay includes short-term and long-term incentives that are directly tied to pre-approved performance metrics (as described below). Key changes include the following: \u2022 Adoption of Annual Performance Bonus Plan: In 2024, we introduced an annual performance-based cash bonus program under which all named executive officers are eligible for performance-based bonuses based on achievement of pre-established corporate performance goals approved by the Compensation Committee. The Compensation Committee selected adjusted net income (\u201cANI\u201d) as the corporate performance metric for the 2024 cash performance bonuses, which is aligned with our goal of driving the Company to a positive cash flow position. ANI is a non-U.S. Generally Accepted Accounting Principles (\u201cGAAP\u201d) measure and is calculated as GAAP net income (loss) adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, and intangibles amortization expense. ANI excludes expenses that are not directly related to our revenue-generating operations such as restructuring and legal contingency accruals, and as a result we believe ANI better reflects our cash flow position. \u2022 Introduction of Performance-Based Restricted Stock Units (\u201cPRSUs\u201d): In February 2024, we granted PRSUs to each of our named executive officers, except for our CEO, Carrie Wheeler, that are eligible to vest subject to achievement of objectives related to homes acquired and homes sold, weighted equally. 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These performance metrics were selected to reinforce sustained operational performance through disciplined inflows and outflows and incentivize progress toward our profitability goals." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b375", + "block_sequence": 375, + "block_sha256": "8e24513360111fb77bb1319e7697e75b977e2344c0b8d7b5014181d5b3a2b51b", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 375, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "698505e1ac171d6e34098485c1e9d96cf96fa3276bb67dd0538a3bf7e3e7de53", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Key Changes to Executive Compensation Program for 2024" + ], + "table_index": null, + "tag_name": "div" + }, 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+ "table": null, + "text": "Executive Compensation Policies and Practices" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b381", + "block_sequence": 381, + "block_sha256": "6df42755161fa9792426c5007263695f2ad619f102439bf971444bcbe5448ffa", + "block_type": "paragraph", + "char_count": 466, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 381, + "char_end": 466, + "char_start": 0, + "fragment_sha256": "be4d8d5f8ee175d42cf3fb95191dbf36ea66241e4d3580fd8988ef9eac1791d4", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s87", + "table": null, + "text": "We endeavor to maintain sound governance standards consistent with our executive compensation policies and practices. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. The following summarizes our executive compensation and related policies and practices:" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b382", + "block_sequence": 382, + "block_sha256": "dbe91d7b88422a75c532306b458563c244d63bf4dbd9a4700728ccaf52958eab", + "block_type": "table", + "char_count": 4126, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 382, + "char_end": 4126, + "char_start": 0, + "fragment_sha256": "93a4c471b9ebc78b37ef7d152c2de8da28eef89a16f4b7ffff538a9b2e7326a2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Executive Compensation Policies and Practices" + ], + "table_index": 17, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s87", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.4, + "markdown": "| | | | |\n| --- | --- | --- | --- |\n| What We Do: | \u200b | \u200b | What We Don\u2019t Do: |\n| \u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. Th\u2026 | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to \u2026 |", + "n_cols": 4, + "n_rows": 2, + "plain_text": "What We Do: | \u200b | \u200b | What We Don\u2019t Do:\n\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2023. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are dependent upon our overall, long-term success as measured through company performance, our stock price and/or total stockholder return, thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post- employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We annually review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. \u2022 Stock Ownership Guidelines. We maintain stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders. \u2022 Clawback Policy. In November 2023, we adopted a compensation recovery policy as required by Rule 10D-1 under the Exchange Act and the corresponding listing standard adopted by the Nasdaq, which provides for the mandatory recovery of certain erroneously awarded incentive compensation from our executive officers in the event of an accounting restatement to correct the Company\u2019s material noncompliance with any financial reporting requirement under securities laws. | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our named executive officers and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 No Tax Reimbursements. We do not provide tax reimbursement payments (including \u201cgross-ups\u201d) to our named executive officers. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross- ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities, except as otherwise pre-approved by the Board. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. \u2022 No \u201cSingle Trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company.", + "rows": [ + [ + "What We Do:", + "\u200b", + "\u200b", + "What We Don\u2019t Do:" + ], + [ + "\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2023. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our named executive officers\u2019 target total direct compensation opportunities are dependent upon our overall, long-term success as measured through company performance, our stock price and/or total stockholder return, thereby aligning the interests of our named executive officers and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post- employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We annually review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. \u2022 Stock Ownership Guidelines. We maintain stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders. \u2022 Clawback Policy. In November 2023, we adopted a compensation recovery policy as required by Rule 10D-1 under the Exchange Act and the corresponding listing standard adopted by the Nasdaq, which provides for the mandatory recovery of certain erroneously awarded incentive compensation from our executive officers in the event of an accounting restatement to correct the Company\u2019s material noncompliance with any financial reporting requirement under securities laws.", + "\u200b", + "\u200b", + "\u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. 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We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities, except as otherwise pre-approved by the Board. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. \u2022 No \u201cSingle Trigger\u201d Change-in-Control Arrangements. We do not provide cash severance or automatic vesting of equity awards based solely upon a change in control of the Company." + ] + ], + "table_index": 17, + "table_kind": "mixed" + }, + "text": "What We Do: | \u200b | \u200b | What We Don\u2019t Do:\n\u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2023. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. 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We maintain stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders. \u2022 Clawback Policy. In November 2023, we adopted a compensation recovery policy as required by Rule 10D-1 under the Exchange Act and the corresponding listing standard adopted by the Nasdaq, which provides for the mandatory recovery of certain erroneously awarded incentive compensation from our executive officers in the event of an accounting restatement to correct the Company\u2019s material noncompliance with any financial reporting requirement under securities laws. | \u200b | \u200b | \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. 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With respect to our executive compensation program, our key objectives are to: \u2022 allow us to attract and retain highly qualified executive officers; and \u2022 ensure our executive team interests are directly aligned to the creation of long-term stockholder value. To attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation, and we believe our executive compensation program is appropriately structured in this regard. We also believe that providing our executive officers with an opportunity to be owners in our business better aligns their interests with those of our stockholders. 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Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers. In carrying out its responsibilities, on an annual basis the Compensation Committee evaluates our compensation policies and practices with a focus on the degree to which these policies and practices reflect our executive compensation philosophy, develops strategies and makes decisions that it believes further our philosophy or align with developments in best compensation practices, and reviews the performance of our executive officers when making decisions with respect to their compensation or recommendations to our Board with respect to their compensation. The Compensation Committee has retained a compensation consultant (as described below) to provide support in its review and assessment of our executive compensation program; however, the Compensation Committee exercises its own judgment in making final decisions or recommendations with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee reviews our executive compensation program annually, and in fiscal 2024, the timing of this review occurred in the first fiscal quarter to take into account our annual operating cadence and to align compensation determinations with the Company\u2019s annual performance and business goals. 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The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. Since 2020, the Compensation Committee has engaged Compensia, Inc. (\u201cCompensia\u201d) to serve as its compensation consultant to advise on executive and non-employee director compensation matters, including competitive market pay practices, and with the data analysis and selection of the compensation peer group. In addition to the work Compensia performed in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or the Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us or the Compensation Committee. During 2023, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: \u2022 the review, analysis and updating of our compensation peer group; \u2022 the Company\u2019s executive compensation philosophy; \u2022 consultancy on the design and implementation of an executive long-term incentive program and the introduction of PRSUs for 2024; \u2022 the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; \u2022 a competitive market assessment for executive-level management, including analyses for potential new hires; \u2022 consultation with the Compensation Committee chair and other members between Compensation Committee meetings, including with respect to: \u2022 updates on compensation trends; and \u2022 regulatory 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"Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 35" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b405", + "block_sequence": 405, + "block_sha256": "e552c32080a3b384d1db8e02f9fc41c88410de063dc57ce7dca93f9b717ab4a6", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 405, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "4b3273bbd51b73d7704edbf8043b642f25af40c09139e196e5a6c04fa7372f61", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Role of the Compensation Consultant" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s92", + "table": null, + "text": "End 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Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2023, Compensia did not provide any other consulting or other services to us other than the executive and director compensation consulting services described above. The Compensation Committee has evaluated its relationship with Compensia to ensure that Compensia operates independently from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2023. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b410", + "block_sequence": 410, + "block_sha256": "6c48499abc9e22d2bb9a58fa0d524e5022e56c13a6db33b50301099019f92263", + "block_type": "heading", + "char_count": 40, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 410, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "d83704ff389e580b718d3b87ce3e54c4f4b8b709c4798304758c1d93722a4fa9", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Setting Target Total Direct Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s93", + "table": null, + "text": "Setting Target Total Direct Compensation" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b411", + "block_sequence": 411, + "block_sha256": "45da03f4a5f3c8b668c58b164feb73ef5fc86b544820ec0b1e2effd3417e290a", + "block_type": "paragraph", + "char_count": 2831, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 411, + "char_end": 2831, + "char_start": 0, + "fragment_sha256": "192b230b4456b0acfb3a53bbefa642cf09b11a36ac2c29bf326580883b5a47e3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Setting Target Total Direct Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s93", + "table": null, + "text": "The Compensation Committee conducts an annual review of the compensation arrangements of our executive officers, including our named executive officers. As part of this review, the Compensation Committee evaluates the base salary levels, any sign-on and retention bonuses, and the long-term incentive compensation opportunities of our executive officers and all related performance criteria. The Compensation Committee does not establish a specific target for formulating the target total direct compensation opportunities of our executive officers. Instead, it evaluates both performance and compensation to ensure that the compensation provided to our executive officers is competitive relative to the compensation paid by similar companies in the technology and Internet retail sectors, with particular emphasis on our peer companies as described below. In making decisions about the compensation of our executive officers, the members of the Compensation Committee rely primarily on considerations of various factors, including the following: \u2022 our executive compensation program objectives; \u2022 our performance against the financial, operational and strategic objectives established by the Compensation Committee and our Board; \u2022 each executive officer\u2019s knowledge, skills, experience, qualifications and tenure relative to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; \u2022 the scope of each executive officer\u2019s role and responsibilities compared to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; \u2022 the prior performance of each executive officer, based on a subjective assessment of their contributions to our overall performance, and ability to lead their business unit and work as part of a team; \u2022 the potential of each executive officer to contribute to our long-term financial, operational and strategic objectives; \u2022 our CEO\u2019s compensation relative to that of our other executive officers, particularly our other named executive officers; \u2022 our financial performance relative to our peers; \u2022 specific input from stockholders on our executive compensation program in creating the design of our executive compensation program in subsequent years; \u2022 each executive officer\u2019s mix of short-term and long-term compensation; \u2022 the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer\u2019s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and \u2022 the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to her own compensation)." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b412", + "block_sequence": 412, + "block_sha256": "f38ef1a883101872aac50fa2733e38dff8bcae476a08822cb294ea7fc517b34c", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 412, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "69cf67137a213bc3ebc7343895373f5db423df54281e5078d65066015616f8b4", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Setting Target Total Direct Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s93", + "table": null, + "text": "36 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The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b418", + "block_sequence": 418, + "block_sha256": "0bc10fa0c6f4b68549747d012255403334f93700d84388ed0f762d3425b1dda3", + "block_type": "heading", + "char_count": 38, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 418, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "ed73e413b2fc73e85cb2c210dec4f47def149d422274abf7c4022f7cdcf7564b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s94", + "table": null, + "text": "Peer Group and Competitive Positioning" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b419", + "block_sequence": 419, + "block_sha256": "bc795914b25bbe75276e62288d9549405541fe36b48c088b0d4913574ba1d78c", + "block_type": "paragraph", + "char_count": 1979, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 419, + "char_end": 1979, + "char_start": 0, + "fragment_sha256": "804ac20651924a5e66c3d5cc27a809cbaf8235639c8e35537bf62063697d8020", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s94", + "table": null, + "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. The Compensation Committee uses data drawn from a select peer group of companies to make decisions with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee uses the peer group compensation data as one of several factors in assessing executive pay program design and total equity utilization. We also supplement the data for our peer group with published compensation surveys where appropriate. The Compensation Committee's compensation decisions are made on a case-by-case basis. Benchmark results do not, in and of themselves, determine individual compensation decisions and we do not target specific pay percentiles. Overall, we believe that use of information from the peer group enables the Compensation Committee to create better alignment between executive pay and performance and to help ensure that we can attract and retain high-performing executive leaders. For both 2022 and 2023, the Compensation Committee evaluated the peer group of companies identified below, as recommended by Compensia and approved by the Compensation Committee in each respective period. The companies in this peer group were selected based on the following primary criteria: \u2022 Revenue, \u2022 Market capitalization, \u2022 Gross profit, and \u2022 Public companies in the same or adjacent industry, including either consumer focused technology-enabled services, real estate services, retail/Internet retail, or software and services. Due to our unique business model, we give primary consideration to gross profit and market capitalization when identifying the appropriate peer group. 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The Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. The initial base salaries of our executive officers were established at the time they entered into an employment offer letter or confirmatory employment offer letter with us and took into account their qualifications, experience, comparable market data and prior base salary level. The Compensation Committee reviews the annual base salaries of our executive officers, including our named executive officers, as part of its annual review of the compensation arrangements of our executive officers, taking into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to her own annual base salary) and the factors set forth in \u201cCompensation-Setting Process \u2013 Setting Target Total Direct Compensation\u201d above. 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Instead, our Board and the Compensation Committee relied primarily on the long-term incentive compensation opportunities granted to our executive officers. Ms. Wheeler is eligible to receive an annual cash bonus based on the attainment of performance goals to be determined by the Compensation Committee. Her target annual cash bonus opportunity is $250,000, and such bonus amount was guaranteed for fiscal year 2023 only, pursuant to the amendment to her employment offer letter entered into in connection with her appointment as CEO in December 2022." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b435", + "block_sequence": 435, + "block_sha256": "ecfc93752a397d45c6eb794d1f4092219d9795884a1f2ee8d564c8455e3426aa", + "block_type": "heading", + "char_count": 24, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 435, + "char_end": 24, + "char_start": 0, + "fragment_sha256": "6d5b5fbea22139b0e835ac21a993042b9e5b1983b169c750bf6505b67888cec0", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Special One-Time Bonuses" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b436", + "block_sequence": 436, + "block_sha256": "162e44477548f03c3f30b596dcb36431ac255f8bf1ae41b49755a015527d61c7", + "block_type": "paragraph", + "char_count": 1305, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 436, + "char_end": 1305, + "char_start": 0, + "fragment_sha256": "20dff244645b92740754066fbad592d2606e299c126cf97e7c3e72b976d029bc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "In December of 2022 and in connection with the CEO leadership change, Ms. Meyer Toolson and Ms. Schwartz were awarded special retention bonuses which were paid either in part or in full during 2023. Both Ms. Schwartz and Ms. Meyer Toolson received retention bonuses to recognize their criticality to the business. Ms. Schwartz was awarded a retention bonus of $400,000, payable in equal quarterly installments in fiscal 2023 and 2024, subject to continued service through each payment date. Ms. Meyer Toolson was awarded a retention bonus of $350,000, which was payable in four equal quarterly installments in fiscal 2023. In addition, and as previously described in our 2023 proxy statement, Ms. Schwartz received a one-time cash bonus in connection with her appointment as interim CFO in the amount of $225,000, which was paid in four equal quarterly installments in 2023. This one-time bonus was awarded to recognize Ms. Schwartz\u2019s increased responsibilities in her new role and to retain her during a critical transition period for the Company. In 2021, Mr. Morillo was awarded a cash sign-on and retention bonus in connection with his hiring in the aggregate amount of $3,800,000. The sign-on and retention bonus was payable over three years, and the final installment of $1,150,000 was paid in 2023." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b437", + "block_sequence": 437, + "block_sha256": "7e9fd279cbb897d92a2855220d60ab828eff6cf49cc16fa65cf22855a421a468", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 437, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "236190b19f6f1132c52e68a428005e3aa86341eee68c97ca544b1e3b7b2e48a3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + 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"sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 442, + "char_end": 5204, + "char_start": 0, + "fragment_sha256": "39458ed4a0e546523c45df177c28ccd3fac8b8e1226c29eb4e99c2d3f1556d73", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "As discussed above under \u201cKey Changes to Executive Compensation Program for 2024,\u201d for 2024 we introduced an annual cash bonus program under which all named executive officers are eligible for a performance-based bonus based on achievement of pre-established corporate performance goals approved by the Compensation Committee. In connection with the new annual cash bonus program, we expect to sunset the practice of awarding special one-time bonuses. Long-Term Equity Compensation We believe that providing long-term incentives in the form of equity awards encourages our executive officers, including our named executive officers, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our executive officers, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Board and the Compensation Committee believe that equity awards align our executive officers\u2019 interests and contributions with the long-term interests of our stockholders. In addition, our Board and the Compensation Committee believe that offering meaningful equity ownership in the Company is helpful in retaining our executive officers, including our named executive officers, and other key employees. Our general practice has been to grant our named executive officers TRSU awards, and in certain circumstances PRSU awards, at the start of employment and for retention purposes. We have not historically had a formal process for granting equity awards on an annual basis. The size and precise terms of the awards are determined by the Compensation Committee. In December 2022, the Board, upon the recommendation of the Compensation Committee, approved a TRSU award for Ms. Wheeler in connection with her promotion to CEO, which grant was made in January 2023. When determining Ms. Wheeler\u2019s TRSU grant, the Compensation Committee considered a competitive market analysis prepared by Compensia for sign-on CEO equity grants and also considered the importance of Ms. Wheeler to the Company\u2019s ability to execute on its transformation plans. Based on this information, the Compensation Committee determined to offer Ms. Wheeler a one-time promotional TRSU grant with a target value of $25,000,000, with the number of shares of common stock granted determined by dividing such target value by the average closing price per share of the common stock over the 20-trading day period commencing with the trading day ten days before December 1, 2022 (subject to a minimum of $1.65 per share and a maximum of $2.00 per share). As a result, Ms. Wheeler received a promotional TRSU grant of 15,060,241 shares of our common stock, which vests quarterly over a four-year period commencing on December 1, 2022, subject to Ms. Wheeler\u2019s continued employment with us on each such vesting date. At the time of grant, the grant date fair value of Ms. Wheeler\u2019s award was $16,566,265. The January 2023 TRSU award represents Ms. Wheeler\u2019s only equity grant in both fiscal 2023 and 2024. None of our other named executive officers received any equity awards during 2023. Health and Welfare Benefits Our named executive officers are eligible to participate in the same employee benefit plans, and on the same terms and conditions, as all other full-time, salaried U.S. employees, subject to the terms and eligibility requirements of such plans. These benefits include medical, dental and vision insurance, business travel insurance, an employee assistance program, health and dependent care flexible spending accounts, basic life insurance, accidental death and dismemberment insurance, short-term and long-term disability insurance, commuter benefits and reimbursement for mobile phone coverage. We also sponsor a Section 401(k) retirement savings plan (the \u201cSection 401(k) Plan\u201d) that provides our executive officers, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis subject to the limits imposed by the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d), to the same extent as our other eligible full-time employees. Participants are able to defer up to 90% of their eligible compensation subject to applicable annual limits under the Code. All participants\u2019 interests in their deferrals are 100% vested when contributed. In 2024, we began contributing up to $1,000 to employees\u2019 401(k) accounts, regardless of the amount the employee contributes. We believe that providing a vehicle for tax-deferred retirement savings through our Section 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers. We design our employee benefits programs to be affordable and competitive in relation to the market as well as compliant with applicable laws and practices. We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices and the competitive market. Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 39" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b443", + "block_sequence": 443, + "block_sha256": "382f6aa0fd3366a54740cc114cb6f2e79473d3415c3f532f60b6c2e4fd4a1720", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 443, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "95b4e036b03ec0a64031309ebf103f2c4f530db1c5d622cb810f5e79e8740e88", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "End Page 46" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b444", + "block_sequence": 444, + "block_sha256": "a5d36c0aa740ddc2d9b5812c879ccfc4dc895c473ed3a8a55cfa7c13b95abcf9", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 444, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "fe17e549f82c5075459e6d63573ad4b47a2399d69d62f4e7db6f286fa53e55a0", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Begin Page 47" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b445", + "block_sequence": 445, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 445, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "5ebac3b64da2edb8a9222357c5c6d8e8c15dbc7044db16c4cde41ddf25b0593e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b446", + "block_sequence": 446, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 446, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b447", + "block_sequence": 447, + "block_sha256": "04d6866743c906cefe63eeec7269ee6ecedd9f3e21a09f94d75918618d975dc3", + "block_type": "paragraph", + "char_count": 4746, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 447, + "char_end": 4746, + "char_start": 0, + "fragment_sha256": "6170c8d1ce35f937301ac41b482fe78f7df35c95d5d332c6dc3c92882c60319b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Perquisites and Other Personal Benefits Currently, we do not view perquisites or other personal benefits as a significant component of our executive compensation program. Accordingly, we do not generally provide perquisites or other personal benefits to our named executive officers, except as generally made available to our employees or in situations where we believe it is appropriate to assist an individual in the performance of their duties, to make them more efficient and effective and for recruitment and retention purposes. During 2023, our NEOs did not receive perquisites or other personal benefits that were, in the aggregate, $10,000 or more for each individual. In the future, we may provide perquisites or other personal benefits in limited circumstances, such as those described in the preceding paragraph. All future practices with respect to perquisites or other personal benefits will be approved and subject to periodic review by the Compensation Committee. AnchorEmployment Offer Letters We have entered into written employment offer letters with each of our named executive officers. Each of these employment offer letters was approved prior to the Business Combination by the compensation committee and/or board of directors of Opendoor Labs Inc., or, in the case of Ms. Schaub\u2019s offer letter, by our Compensation Committee. We believe that these arrangements were necessary to secure the services or the continued service of these individuals in a highly competitive job market. Each of these employment agreements does not have a specific term, provides for \u201cat will\u201d employment (meaning that either we or the named executive officer may terminate the employment relationship at any time without cause) and generally set forth the named executive officer\u2019s base salary, eligibility to participate in our employee benefit plans and programs in effect for similarly situated employees during their employment, in some instances provided for a sign-on bonus and/or retention payment and, in certain instances, provided for certain of the named executive officers to receive equity awards on the terms and conditions as set forth in the employment offer letter. In addition, each named executive officer either agreed to execute and be bound by our Confidential Information and Inventions Assignment Agreement or confirmed that the named executive officer agreed to continue to be bound by the Confidential Information and Inventions Assignment Agreement they had previously executed, which contains, among other things, restrictive covenants pursuant to which such officers agree (i) to refrain from soliciting our customers during the term of their employment and (ii) to refrain from soliciting our employees during the term of their employment and for a period of 12 months thereafter. The Company's standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants to the extent prohibited by applicable law. Except for the employment offer letter with Ms. Wheeler, as amended in connection with her role transition in December 2022, the employment offer letters do not provide for any severance benefits. In connection with the appointment of Ms. Wheeler as our CEO, we and Ms. Wheeler entered into an amendment to Ms. Wheeler\u2019s existing offer letter agreement. Pursuant to such amendment, if we terminate Ms. Wheeler\u2019s employment without \u201ccause\u201d or if Ms. Wheeler resigns for \u201cgood reason\u201d (as each term is defined in her offer letter agreement), subject to her execution of a release of claims, she will be entitled to cash severance equal to one times her annual base salary plus target bonus, 12 months of health benefits continuation, and 12 months accelerated vesting of her outstanding time-based equity awards. AnchorPost-Employment Compensation Severance Plan We maintain an Executive Severance Plan (the \u201cSeverance Plan\u201d), effective as of December 22, 2022, and amended on February 26, 2024, under which our executive officers are eligible to receive severance payments and benefits in connection with certain qualifying terminations of their employment, subject to the conditions set forth in the Severance Plan. The Severance Plan is intended to provide a consistent framework to address covered terminations and help maintain our executive officers\u2019 continued focus on their assigned duties to maximize stockholder value if there is a potential change in control transaction. Each of our 2023 named executive officers other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023) is eligible to participate in the Severance Plan. 40 \u200b \u200b Opendoor Technologies Inc. // 2024 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b448", + "block_sequence": 448, + "block_sha256": "68715d6c2d94583aa732adc1e9ff18c7745004a1feb99bca5a46166a53bc40a5", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 448, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "2c8ee1017330f451c8a3948cd557a813c503856e769dbf0ae4f7612c89325eeb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": 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+ { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b451", + "block_sequence": 451, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 451, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b452", + "block_sequence": 452, + "block_sha256": "3320440167b85dba17aaac5ac79979bc09871874d651d0472e9c06dde2a06f06", + "block_type": "paragraph", + "char_count": 6252, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 452, + "char_end": 6252, + "char_start": 0, + "fragment_sha256": "5901318565f142d4cc58486a8aa5feb9250be716989e14bd769e7f46cf296875", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "The Severance Plan provides that upon our termination of a participant\u2019s employment without \u201ccause,\u201d or upon a resignation by the participant for \u201cgood reason,\u201d in either case within the period beginning three months before and ending 12 months following a \u201cchange in control\u201d (each as defined in the Severance Plan), the participant shall receive (i) a cash severance payment equal to the participant\u2019s then-current base salary multiplied by 1.5 for our CEO or 1.0 for our other named executive officers, paid in installments over an 18- or 12-month period, respectively, (ii) a pro rata portion of the participant\u2019s target annual cash bonus for the year of termination, paid in installments over 18 months for our CEO or 12 months for our other named executive officers, (iii) payment or reimbursement of the cost of COBRA premiums for the participant and the participant\u2019s dependents for up to 18 months for our CEO or 12 months for our other named executive officers, and (iv) 100% acceleration of the vesting of the participant\u2019s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements. Upon any other termination by us without cause or upon a resignation by an eligible participant for good reason, the participant will receive (i) a cash severance payment equal to the sum of the participant\u2019s then-current base salary plus target bonus, in the case of our CEO, and a cash severance payment equal to the participant\u2019s then-current base salary multiplied by 0.5, in the case of our other named executive officers, paid in installments over 12 months for our CEO and six months for our other named executive officers, (ii) payment or reimbursement of the cost of the COBRA premiums for the participant and the participant\u2019s dependents for up to 12 months, and (iii) acceleration of the vesting of the portion of the participant\u2019s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements and that would otherwise vest within the 12- or six-month period after termination for our CEO or our other named executive officers, respectively (or, 12 months if any NEO other than our CEO has been employed for less than 12 months). For purposes of the Severance Plan, \u201ccause\u201d has the meaning set forth in the participant\u2019s offer letter agreement, employment agreement or similar agreement with the participant\u2019s employer, or, in the absence of such agreement, or if such agreement does not have a definition of \u201ccause,\u201d means: (a) the participant\u2019s commission of any act that constitutes a felony or any crime involving dishonesty or moral turpitude, (b) the participant\u2019s engaging in any act of fraud or embezzlement, whether or not related to the business of the Company, or any other act of material dishonesty against the Company or any of its Affiliates, (c) any material breach by the participant of any offer letter agreement, employment agreement or similar agreement with the participant\u2019s employer, or of the Employee Confidential Information and Invention Assignment Agreement or similar agreement or of any material written policy of the Company and, if curable, the participant\u2019s failure to cure such breach within 30 days after receiving written notice thereof; (d) the willful and continued failure by the participant to substantially perform the participant\u2019s duties to the Company (other than any such failure resulting from the Participant\u2019s incapacity due to physical or mental illness), after written demand for substantial performance is delivered by the Company that identifies with reasonable specificity the manner in which the Company believes the participant has not substantially performed the participant\u2019s duties, which is not cured within 30 days after notice of such failure has been given to the participant by the Company; (e) the willful engaging by the participant in misconduct or gross neglect (including any conduct that is in violation of the written employee workplace policies of the Company) that is injurious to the Company, monetarily, in reputation or otherwise; or (f) any other intentional act causing material damage to the Company\u2019s business, property or reputation. For purposes of the Severance Plan, \u201cgood reason\u201d has the meaning set forth in the participant\u2019s offer letter agreement, employment agreement or similar agreement with the participant\u2019s employer, or, in the absence of such agreement, or if such agreement does not have a definition of \u201cgood reason,\u201d means the occurrence of any of the following events without the participant\u2019s written consent: (a) a reduction by the Company or its successor of more than 20% in the participant\u2019s rate of annual base salary, unless such reduction is in connection with and proportional to reductions to the base salary reductions of other executives of the Company; (b) a material reduction in the participant\u2019s job responsibilities, duties or authority (provided that a mere change in title to an employment position that is substantially similar to the prior employment position shall not constitute a material reduction in job responsibilities, duty or authority); or (c) a change in the geographic location of the Participant\u2019s principal place of employment to any location more than 50 miles from the Participant\u2019s current principal place of employment. Notwithstanding the foregoing, \u201cgood reason\u201d will not exist for purposes of the Severance Plan unless, within 30 days after the initial occurrence of a circumstance that the participant believes in good faith to constitute good reason, the Participant delivers written notice to the Company setting forth with specificity such circumstance the Participant believes in good faith constitutes good reason, the Company fails to cure any claimed event of good reason (if capable of cure) within 30 days after receipt of such notice, and the participant actually terminates their employment no later than 30 days following the expiration of the Company\u2019s cure period. To receive the severance, the participant must execute and deliver a release of claims in favor of the Company and continue to comply with restrictive covenants applicable to the participant. Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 41" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b453", + "block_sequence": 453, + "block_sha256": "60751539fbc79ee938802c00137408bea4ba0cfd1db5cf8a70d9b29e60abcff2", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 453, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "f7329ddddf7546db588673be7effe03c80c9cf47c906f25a1edcdd6594a9cf0f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "End Page 48" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b454", + "block_sequence": 454, + "block_sha256": "d13f314a4532cd40d7ce96baee0f20bfeefdf3db3c05c84fbe850575932fcde0", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 454, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "8cb546d9f21a73a9db4a7c09a95f47b268e838025bc639cae3a49a930f33078e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Begin Page 49" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b455", + "block_sequence": 455, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 455, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "86f4b9da3ed7fb278ef9345440726097dcc0429e6d74351ee681ba8860f4912d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b456", + "block_sequence": 456, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 456, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b457", + "block_sequence": 457, + "block_sha256": "1bee4ac1437a8f1a03b1dddc12640efb922848b0504f5d27791fd765c9736d08", + "block_type": "paragraph", + "char_count": 4564, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 457, + "char_end": 4564, + "char_start": 0, + "fragment_sha256": "e3642793ae6aaa58e0c0e90d3a0f02027962b510a875faf5c2de3ed67d03c98e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "We are not obligated to provide tax reimbursements or \u201cgross-ups\u201d to any of our executive officers, including our named executive officers, in the event that the compensation and benefits received under the Severance Plan or otherwise would result in the imposition of excise taxes on the named executive officer under Section 4999 of the Internal Revenue Code. We believe that having in place reasonable and competitive post-employment compensation arrangements, including in the event of a change in control of the Company, is essential to attracting and retaining highly-qualified executive officers. The Compensation Committee does not consider the specific amounts payable under the post-employment compensation arrangements when determining our named executive officers\u2019 compensation. We do believe, however, that these arrangements are necessary to offer competitive compensation packages. AnchorHedging and Pledging of Securities We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company's securities. Our directors, officers and employees are, therefore, prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities (whether they are granted to such individual by the Company as part of such person's compensation or otherwise held, directly or indirectly, by such individual), or that may cause a director, officer or employee to no longer have the same objectives as the Company\u2019s other stockholders, except as otherwise pre-approved by the Board in each instance. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. AnchorStock Ownership Guidelines We maintain stock ownership guidelines for our executive officers and directors. Within five years of the establishment of the guidelines (or becoming subject to the guidelines, if later), our CEO is required to hold the lesser of vested shares of the Company\u2019s common stock equal to six times annual base salary, or 450,000 shares; other executive officers are required to hold the lesser of vested shares of the Company\u2019s common stock equal to three times annual base salary, or 225,000 shares; and directors are required to hold the lesser of shares of the Company\u2019s common stock equal to five times their annual cash retainer, or 60,000 shares. Only issued shares are counted toward satisfaction of the ownership requirement. Accordingly, unvested equity awards (including both time- and performance-based) and unexercised stock options, if any, do not count toward satisfying the executive stock ownership requirement. While our NEOs and directors are still within the five-year period to accumulate their ownership holdings, when measured as of December 31, 2023, each of our directors, with the exception of Ms. Hamilton, who has until November 2028 to meet the ownership requirement, and each of our NEOs, other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023), have met the specified levels of ownership. AnchorClawbacks We have adopted a compensation recovery policy as required by Rule 10D-1 under the Exchange Act, and the corresponding listing standards of the Nasdaq, which provides for the mandatory recovery from current and former officers of incentive-based compensation that was erroneously awarded during the three fiscal years preceding the date that the company is required to prepare an accounting restatement, including to correct an error that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period. The amount required to be recovered is the excess of the amount of incentive-based compensation received over the amount that otherwise would have been received had it been determined based on the restated financial measure. 42 \u200b \u200b Opendoor Technologies Inc. // 2024 Proxy Statement" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b458", + "block_sequence": 458, + "block_sha256": "5f714e52b6332176a713901f93e3083c93c78ba2a1621cc18fb2097e7ccb790c", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 458, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "7c767c8728fee4ac9eb4d2ca48ddc6bf687c1e1985fd88d182378d327cd11c62", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "End Page 49" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b459", + "block_sequence": 459, + "block_sha256": "6e0ba76f191642801a2d098d988698efd868c87ed2b077dbc6d260d780da14a3", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 459, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "40d28f6d3fe4c8156f76d8357c71374316a8bf73efd14297cbe51ab1cf1825bc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Begin Page 50" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b460", + "block_sequence": 460, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 460, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "f9d1a3df76d8e0050ce2d030254570ae183d0e2763091e021119606bd12fce7d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b461", + "block_sequence": 461, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 461, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b462", + "block_sequence": 462, + "block_sha256": "b4ba91e9e5139eca410618db0a31f9e12bfe7f4c5b37b06d63edcef0cc21d3af", + "block_type": "paragraph", + "char_count": 3892, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 462, + "char_end": 3892, + "char_start": 0, + "fragment_sha256": "7d0c1fc2a4ed901171277c641f92157bf7fa0b410d1236db9bef3b79dc92f7c2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Special One-Time Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", + "table": null, + "text": "AnchorTax and Accounting Considerations The Compensation Committee takes the applicable tax and accounting requirements into consideration in designing and overseeing our executive compensation program. Deductibility of Executive Compensation For federal income tax purposes, publicly-traded companies may be prohibited under Section 162(m) of the Code from deducting employee compensation in excess of $1 million paid to their chief executive officer, chief financial officer, any other executive officer whose total compensation is required to be reported to stockholders under the Exchange Act by reason of such individual being among the three highest compensated executive officers for the tax year and any executive officer who was subject to the deduction limit in any tax year beginning after December 31, 2016. Even if Section 162(m) may limit the compensation deduction, our Board and the Compensation Committee believe our compensation policies and practices should be designed to help us meet our established goals and objectives. 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Among other things, ASC Topic 718 requires us to record a compensation expense in our income statement for all equity awards granted to our executive officers and other employees. This compensation expense is based on the grant date \u201cfair value\u201d of the equity award and, in most cases, will be recognized on a straight-line basis for TRSUs and using an accelerated attribution approach for PRSUs over the award\u2019s requisite service period (which, generally, will correspond to the award\u2019s vesting schedule). This compensation expense is also reported in the compensation tables below, even though recipients may never realize any value from their equity awards. AnchorCompensation Committee Report The following Compensation Committee Report is not \u201csoliciting material,\u201d is not deemed \u201cfiled\u201d with the SEC and is not to be incorporated by reference in any filing of the Company under the Exchange Act, or the Securities Act of 1933, as amended, other than in Opendoor\u2019s Annual Report on Form 10-K where it shall be deemed to be furnished, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. The Compensation Committee has reviewed and discussed the section captioned \u201cCompensation Discussion and Analysis\u201d as required by Item 402(b) of Regulation S-K and contained within this proxy statement with management. 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"norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s104", + "table": null, + "text": "The table below quantifies certain compensation and benefits that would have become payable to each of our named executive officers (other than Mr. Morillo) (i) if their employment had terminated on December 31, 2023 without Cause or due to resignation for Good Reason, and (ii) if a Change in Control had occurred on December 31, 2023, and the officer\u2019s employment was terminated without Cause or due to resignation for Good Reason within the period beginning three months prior to and ending 12 months following such Change in Control. The amounts shown are estimates of the amounts that would be received upon a change in control or termination of employment based on the closing market price of the Company\u2019s common stock on December 29, 2023 of $4.48; the actual amounts payable to our named executive officers can be determined only at the time of any actual change in control or termination of employment. For additional discussion of the potential benefits and payments due in connection with certain terminations of employment in connection with, and outside of, a change-in-control, please see \u201cPost-Employment Compensation\u201d in the Compensation Discussion and Analysis. The actual amounts payable to our named executive officers in the table below are estimates only and can be determined only at the time of any actual change in control or termination of employment. Mr. Morillo resigned from the Company effective February 21, 2023. 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"norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s109", + "table": { + "caption": null, + "flags": [], + "has_merged_cells": false, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Name | \u200b | \u200b | Fees Earned or Paid in Cash ($)(1) | \u200b | \u200b | Stock Awards ($)(2) | \u200b | \u200b | Total ($) |\n| Adam Bain | \u200b | \u200b | 67,500 | \u200b | \u200b | 272,788 | \u200b | \u200b | 340,288 |\n| Dana Hamilton | \u200b | \u200b | 10,000 | \u200b | \u200b | 99,749 | \u200b | \u200b | 109,749 |\n| Cipora Herman | \u200b | \u200b | 70,000 | \u200b | \u200b | 272,854 | \u200b | \u200b | 342,854 |\n| Jonathan Jaffe | \u200b | \u200b | 55,000 | \u200b | \u200b | 270,968 | \u200b | \u200b | 325,968 |\n| Pueo Keffer | \u200b | \u200b | 60,000 | \u200b | \u200b | 272,586 | \u200b | \u200b | 332,586 |\n| Jason Kilar | \u200b | \u200b | 60,000 | \u200b | \u200b | 270,968 | \u200b | \u200b | 330,968 |\n| John Rice | \u200b | \u200b | 80,000 | \u200b | \u200b | 273,125 | \u200b | \u200b | 353,125 |\n| Glenn Solomon | \u200b | \u200b | 65,000 | \u200b | \u200b | 272,720 | \u200b | \u200b | 337,720 |", + "n_cols": 10, + "n_rows": 9, + "plain_text": "Name | \u200b | \u200b | Fees Earned or Paid in Cash ($)(1) | \u200b | \u200b | Stock Awards ($)(2) | \u200b | \u200b | Total ($)\nAdam Bain | \u200b | \u200b | 67,500 | \u200b | \u200b | 272,788 | \u200b | \u200b | 340,288\nDana Hamilton | \u200b | \u200b | 10,000 | \u200b | \u200b | 99,749 | \u200b | \u200b | 109,749\nCipora Herman | \u200b | \u200b | 70,000 | \u200b | \u200b | 272,854 | \u200b | \u200b | 342,854\nJonathan Jaffe | \u200b | \u200b | 55,000 | \u200b | \u200b | 270,968 | \u200b | \u200b | 325,968\nPueo Keffer | \u200b | \u200b | 60,000 | \u200b | \u200b | 272,586 | \u200b | \u200b | 332,586\nJason Kilar | \u200b | \u200b | 60,000 | \u200b | \u200b | 270,968 | \u200b | \u200b | 330,968\nJohn Rice | \u200b | \u200b | 80,000 | \u200b | \u200b | 273,125 | \u200b | \u200b | 353,125\nGlenn Solomon | \u200b | \u200b | 65,000 | \u200b | \u200b | 272,720 | \u200b | \u200b | 337,720", + "rows": [ + [ + "Name", + "\u200b", + "\u200b", + "Fees Earned or Paid in Cash ($)(1)", + "\u200b", + "\u200b", + "Stock Awards ($)(2)", + "\u200b", + "\u200b", + "Total ($)" + ], + [ + "Adam Bain", + "\u200b", + "\u200b", + "67,500", + "\u200b", + "\u200b", + "272,788", + "\u200b", + "\u200b", + "340,288" + ], + [ + "Dana Hamilton", + "\u200b", + "\u200b", + "10,000", + "\u200b", + "\u200b", + "99,749", + "\u200b", + "\u200b", + "109,749" + ], + [ + "Cipora Herman", + "\u200b", + "\u200b", + "70,000", + "\u200b", + "\u200b", + "272,854", + "\u200b", + "\u200b", + "342,854" + ], + [ + "Jonathan Jaffe", + "\u200b", + "\u200b", + "55,000", + "\u200b", + "\u200b", + "270,968", + "\u200b", + "\u200b", + "325,968" + ], + [ + "Pueo Keffer", + "\u200b", + "\u200b", + "60,000", + "\u200b", + "\u200b", + 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| 270,968 | \u200b | \u200b | 325,968\nPueo Keffer | \u200b | \u200b | 60,000 | \u200b | \u200b | 272,586 | \u200b | \u200b | 332,586\nJason Kilar | \u200b | \u200b | 60,000 | \u200b | \u200b | 270,968 | \u200b | \u200b | 330,968\nJohn Rice | \u200b | \u200b | 80,000 | \u200b | \u200b | 273,125 | \u200b | \u200b | 353,125\nGlenn Solomon | \u200b | \u200b | 65,000 | \u200b | \u200b | 272,720 | \u200b | \u200b | 337,720" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b531", + "block_sequence": 531, + "block_sha256": "23dc26e40622e4d85f0fab9f3d4b50047225456d3472426d5eb987805919c724", + "block_type": "paragraph", + "char_count": 1788, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 531, + "char_end": 1788, + "char_start": 0, + "fragment_sha256": "f2e4313f41ba87ba9e7d5085b158172ef4828bf0cdfb39584e456e45080755f3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Anchor2023 Director Compensation Table" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s109", + "table": null, + "text": "(1) The amount of the cash retainers that our non-employee directors (other than Mr. Jaffe and Mr. Kilar) elected to receive in the form of TRSUs is reflected in the \u201cFees Earned or Paid in Cash\u201d column, and the grant date fair value of the TRSUs granted in satisfaction of such elections on February 24, 2023 that was greater than the amount of the cash retainers to be paid in the form of TRSUs, if any, and is reflected in the \u201cStock Awards\u201d column. The number of TRSUs granted to each non-employee director in lieu of cash retainers for 2023, and the corresponding aggregate grant date fair value of such TRSUs, is as follows: Adam Bain, 43,325 TRSUs, $69,320; Cipora Herman, 44,929 TRSUs, $71,886; Pueo Keffer, 38,511 TRSUs, $61,618; John Rice, 51,348 TRSUs, $82,157; and Glenn Solomon, 41,720 TRSUs, $66,752. (2) Amounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the non-employee director. For additional information regarding the stock-based awards granted to our named executive officers, please see Note 12, Share-Based Awards to the consolidated financial statements included in our 2023 Annual Report. Amounts listed include the annual TRSU award for each non-employee director and, for each non-employee director who elected to receive their cash compensation in the form of TRSUs, the grant date fair value of the TRSUs granted in satisfaction of such elections that was greater than the amount of the cash retainers. The table below shows the aggregate number of unvested TRSU awards held as of December 31, 2023 by each non-employee director." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b532", + "block_sequence": 532, + "block_sha256": "b25a9af2722dc9f6a2884b77b3840aa56ae1d4639f7369f2a6b5dc662c1fc4e6", + "block_type": "table", + "char_count": 293, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 532, + "char_end": 293, + "char_start": 0, + "fragment_sha256": "ba735688860c47cefbfea9dc64e9fe2746bd316e06a8a1bc52bb3f33ff2e93ab", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Anchor2023 Director Compensation Table" + ], + "table_index": 29, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s109", + "table": { + "caption": null, + "flags": [], + 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TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCEO Pay Ratio" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s110", + "table": null, + "text": "AnchorCEO Pay Ratio" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b539", + "block_sequence": 539, + "block_sha256": "5f57bb6d3dd289299093c8efde91df37850d15276d6a273e382c1d2c7fe02c72", + "block_type": "paragraph", + "char_count": 2901, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 539, + "char_end": 2901, + "char_start": 0, + "fragment_sha256": "45c73fb3c90fa3ba9696d6ab551b0a7ca7a0658f5cc5917243baf10d5f364dcc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCEO Pay Ratio" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s110", + "table": null, + "text": "As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are required to disclose the ratio of the annual total compensation of our CEO to the annual total compensation of our median compensated employee, using the required calculations. The pay ratio included in this information is a reasonable estimate calculated in a manner that is intended to be consistent with Item 402(u) of Regulation S-K. For 2023: \u2022 The annual total compensation of our median employee was $86,352; and \u2022 The annual total compensation of our CEO, as reported in the Summary Compensation Table in this proxy statement, was $17,566,265. \u2022 The ratio of the annual total compensation of Ms. Wheeler to our median employee was 203:1. For purposes of this pay ratio, both the CEO\u2019s and the median employee\u2019s annual total compensation were calculated in accordance with the requirements of the Summary Compensation Table. To identify the median employee for fiscal 2023, we looked at our employee population as of December 31, 2023 and used a consistently applied compensation measure (\u201cCACM\u201d) to all of the employees included in the calculations. Our CACM consisted of total compensation calculated in accordance with Item 402(c) of Regulation S-K as obtained from our internal payroll systems. This pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules. \u2022 December 31, 2023 was selected as the determination date as it enabled us to choose a pay date that aligned across the Company. \u2022 As of December 31, 2023, our U.S. and non-U.S. employee population consisted of approximately 1,986 full-time and part-time employees. Employees in Canada and India were included in the calculation, and accounted for 30 and 241 employees, respectively, with 1,715 employees in the U.S. \u2022 Total compensation (base salary, bonuses, plus equity incentive compensation) was selected as the most appropriate and consistently applied compensation measure to determine the median worker. \u2022 For non-U.S. employees, we used exchange rates as of December 11, 2023 of 0.012 INR and 0.734 CAD to the U.S. dollar. \u2022 After identifying the median employee based on total compensation, total compensation was calculated for the median employee using the same methodology used for the NEOs in the Summary Compensation Table on page 44. \u2022 As noted above, the median employee\u2019s annual total compensation was $86,352. This pay ratio disclosure is a reasonable estimate. Because the SEC rules for identifying the median employee and calculating the pay ratio permit companies to use various methodologies and assumptions, to apply certain exclusions and to make reasonable estimates that reflect their employee populations and compensation practices, the pay ratio reported by other companies may not be comparable with the pay ratio that we have reported." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b540", + "block_sequence": 540, + "block_sha256": "1f9bd81befa97fd9c965b191c7aa67138d93eac6e49ad518e4a82d26101324f6", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 540, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "80d6e9f6ff014d036605489a7df2d95860eef5ae16137ae19fe9628a71848fd0", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at 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2020, 2021, 2022, and 2023. For further information concerning our pay-for-performance philosophy and how we align executive compensation with our performance, see \u201cCompensation Discussion and Analysis\u201d in this proxy and in our proxy statements filed in 2021, 2022, and 2023." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b547", + "block_sequence": 547, + "block_sha256": "ad6c236c641ca542df7ac1f20d228f130c681d20a534aa7a238a96e1e0b89b2e", + "block_type": "paragraph", + "char_count": 838, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 547, + "char_end": 838, + "char_start": 0, + "fragment_sha256": "ee5dea183a55896ea08b789d69cdb97d0f0a41925cb1e3f795f924b1ff67ec4f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "In the below pay versus performance table, we provide information about compensation of our NEOs for each of the last four fiscal years (the \u201cCovered Years\u201d). Additionally, we provide information about the results for certain financial performance measures during the Covered Years. Although the PvP Rules require us to disclose \u201ccompensation actually paid,\u201d these amounts do not necessarily reflect compensation that our NEOs actually earned in the Covered Years. Instead, \u201ccompensation actually paid\u201d reflects a calculation computed in accordance with the PvP Rules, including adjusted values to unvested and vested equity awards during the Covered Years based on either year-end or vesting date stock prices and various accounting valuation assumptions. \u201cCompensation actually paid\u201d generally fluctuates due to stock price performance." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b548", + "block_sequence": 548, + "block_sha256": "c8518268b78f6fdfe31d1071fa5e3fff3caeba1ae24dd2707fbfa6f8e04a1946", + "block_type": "table", + "char_count": 1538, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 548, + "char_end": 1538, + "char_start": 0, + "fragment_sha256": "e42b53d01db42077da206ecea9738cfafb409c17c99292905a20cf1190679130", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at 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\u200b | \u200b | $383,334 | \u200b | \u200b | ($33,760,155) | \u200b | \u200b | $325,000 | \u200b | \u200b | ($191,665,693) | \u200b | \u200b | $2,209,789 | \u200b | \u200b | ($16,981,618) | \u200b | \u200b | $4 | \u200b | \u200b | $77 | \u200b | \u200b | ($1,353)\n2021 | \u200b | \u200b | N/A | \u200b | \u200b | N/A | \u200b | \u200b | $112,333,540 | \u200b | \u200b | ($95,777,677) | \u200b | \u200b | $24,302,144 | \u200b | \u200b | $\u200b5,199,835 | \u200b | \u200b | $47 | \u200b | \u200b | $112 | \u200b | \u200b | ($662)\n2020 | \u200b | \u200b | N/A | \u200b | \u200b | N/A | \u200b | \u200b | $370,240,992 | \u200b | \u200b | $396,723,976 | \u200b | \u200b | $10,350,414 | \u200b | \u200b | $32,491,540 | \u200b | \u200b | $73 | \u200b | \u200b | $100 | \u200b | \u200b | ($253)" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b549", + "block_sequence": 549, + "block_sha256": "0a60fce3686518206fe4da7a29ad53da9b16d3132202b94a804e6a0e424dd0ac", + 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Carrie Wheeler served as the Company\u2019s Principal Executive Officer (our \u201cPEO\u201d) for the entirety of fiscal year 2023 and from December 1 to December 31, 2022. Our former PEO, Eric Wu, served as our PEO for the entirety of fiscal 2020 and 2021 as well as January 1 to November 30, 2022. The Company\u2019s other NEOs (the \u201cNon-PEO NEOs\u201d) for the indicated fiscal years were as follows:" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b550", + "block_sequence": 550, + "block_sha256": "6aa145bd812c219836ac9ae9a245aa40bdf9717b580a1c91ed10cc0feca143c8", + "block_type": "paragraph", + "char_count": 82, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 550, + "char_end": 82, + "char_start": 0, + "fragment_sha256": "55e8dd90c43c5610d5a1162441ea6c39aeb5565c3b8bc260e7594fe5a2713dad", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "\u2013 2023: Christina Schwartz, Megan Meyer Toolson, Sydney Schaub, and Daniel Morillo" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b551", + "block_sequence": 551, + "block_sha256": "e19399a10c74eb345daac2cb88b64cb11584b6b398dfd33f17673967792f97eb", + "block_type": "paragraph", + "char_count": 80, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 551, + "char_end": 80, + "char_start": 0, + "fragment_sha256": "69fef62cc857f2eb6719d9b2da141ca9857286884bc9684ecbc3dc74f7b2bf43", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "\u2013 2022: Christina Schwartz, Sydney Schaub, Andrew Low Ah Kee, and Daniel Morillo" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b552", + "block_sequence": 552, + "block_sha256": "a448d1eb8d95b9e8707c6e20a23089e14b52f91ed47d3fb45a2f5357541580b7", + "block_type": "paragraph", + "char_count": 90, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 552, + "char_end": 90, + "char_start": 0, + "fragment_sha256": "51b2bd649591e61a06b99433f70352b262bc8e4dfbcca9fa20ced27fe65c8c0c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "\u2013 2021: Carrie Wheeler, Andrew Low Ah Kee, Daniel Morillo, Ian Wong, and Elizabeth Stevens" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b553", + "block_sequence": 553, + "block_sha256": "6fd428fab47f62281ed97faa180989136db4e86cbd8d8fe73378d37c26373c6d", + "block_type": "paragraph", + "char_count": 87, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 553, + "char_end": 87, + "char_start": 0, + "fragment_sha256": "30843cfe9bbc27df343406954c29033b792691e06e62be716566d2a5fb3dc887", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "\u2013 2020: Carrie Wheeler, Gautam Gupta, Julie Todaro, Tom Willerer, and Elizabeth Stevens" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b554", + "block_sequence": 554, + "block_sha256": "82a2616a8dd60cc6eee1386546a1a6ea1b605b410c640986b9e176b1a1d670e0", + "block_type": "paragraph", + "char_count": 337, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 554, + "char_end": 337, + "char_start": 0, + "fragment_sha256": "06540d1b5000845900eabc61ad09ceae4706436b8ec7c0e5e9dccaf36fdb0d4c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "2. Amounts reported in these columns represent (i) the total compensation reported in the Summary Compensation Table for the indicated fiscal year in the case of our PEO, (ii) former PEO, and (iii) the average of the total compensation reported in the Summary Compensation Table for the Non-PEO NEOs in the indicated year for such years." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b555", + "block_sequence": 555, + "block_sha256": "b8cc29ed6d2e91f40730a2354f6a8c826969f972086f45b4021423a7f5fa8825", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 555, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "a770af9fc400f66bd4ffa179ce05f7b8c6a2fdcf45d132d63a1a7e4678341b07", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus 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Amounts reported in these columns represent the compensation actually paid to (lost by) our PEO and former PEO for the indicated fiscal year, as calculated under Item 402(v) of Regulation S-K based on their total compensation reported in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the tables below:" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b561", + "block_sequence": 561, + "block_sha256": "a42b1d3004e31a37761f845a8b8f7466b6565b568c34a5df8a7a58cd5787fb8e", + "block_type": "table", + "char_count": 1313, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 561, + "char_end": 1313, + "char_start": 0, + "fragment_sha256": "3a6d1fa28c4823ca78c1ba0d7e1339399ded351dc74f4d3bf0c8e0f20e0b1fd2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay 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Amounts reported in this column represent the compensation actually paid to the Non-PEO NEOs in the indicated fiscal year, as calculated under Item 402(v) of Regulation S-K based on the average total compensation for such NEOs reported in the Summary Compensation Table for the indicated fiscal year and adjusted as shown in the table below:" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b570", + "block_sequence": 570, + "block_sha256": "d3e8216d1e05e04934888c23f0dd5cf28ecf3eab973a556f2c9ccac6134280da", + "block_type": "table", + "char_count": 1705, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 570, + "char_end": 1705, + "char_start": 0, + "fragment_sha256": "a7a6e3a2bb065ffaad5a4a43d98f3608d0106b0b693393ae65eed81a0e971382", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": 33, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": { + "caption": null, + "flags": [ + "wide_table" + ], + "has_merged_cells": true, + "header_rows": 0, + "kind_confidence": 0.6, + "markdown": "| | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| NEO Average | | | | | | | | | | | | | | | |\n| +/- | \u200b | \u200b | | \u200b | \u200b | 2020 | \u200b | \u200b | 2021 | \u200b | \u200b | 2022 | \u200b | \u200b | 2023 |\n| | \u200b | \u200b | Summary Compensation Table - Total Compensation | \u200b | \u200b | $10,350,414 | \u200b | \u200b | $24,302,144 | \u200b | \u200b | $2,209,789 | \u200b | \u200b | $838,011 |\n| - | \u200b | \u200b | Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | \u200b | \u200b | $10,012,145 | \u200b | \u200b | $23,637,936 | \u200b | \u200b | $1,551,351 | \u200b | \u200b | $0 |\n| + | \u200b | \u200b | Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | \u200b | \u200b | $19,904,276 | \u200b | \u200b | $11,832,656 | \u200b | \u200b | $572,406 | \u200b | \u200b | $0 |\n| + | \u200b | \u200b | Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | \u200b | \u200b | $11,441,499 | \u200b | \u200b | ($8,760,674) | \u200b | \u200b | ($14,604,217) | \u200b | \u200b | $1,721,801 |\n| + | \u200b | \u200b | Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | \u200b | \u200b | $61,546 | \u200b | \u200b | $5,537,345 | \u200b | \u200b | $20,842 | \u200b | \u200b | $0 |\n| + | \u200b | \u200b | Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | \u200b | \u200b | $1,459,244 | \u200b | \u200b | ($3,354,547) | \u200b | \u200b | ($3,629,087) | \u200b | \u200b | $875,951 |\n| - | \u200b | \u200b | Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | \u200b | \u200b | $713,294 | \u200b | \u200b | $719,153 | \u200b | \u200b | $0 | \u200b | \u200b | $332,759 |\n| = | \u200b | \u200b | Compensation Actually Paid | \u200b | \u200b | $32,491,540 | \u200b | \u200b | $\u200b5,199,835 | \u200b | \u200b | ($16,981,618) | \u200b | \u200b | $3,103,004 |", + "n_cols": 16, + "n_rows": 10, + "plain_text": "NEO Average | | | | | | | | | | | | | | | \n+/- | \u200b | \u200b | | \u200b | \u200b | 2020 | \u200b | \u200b | 2021 | \u200b | \u200b | 2022 | \u200b | \u200b | 2023\n | \u200b | \u200b | Summary Compensation Table - Total Compensation | \u200b | \u200b | $10,350,414 | \u200b | \u200b | $24,302,144 | \u200b | \u200b | $2,209,789 | \u200b | \u200b | $838,011\n- | \u200b | \u200b | Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | \u200b | \u200b | $10,012,145 | \u200b | \u200b | $23,637,936 | \u200b | \u200b | $1,551,351 | \u200b | \u200b | $0\n+ | \u200b | \u200b | Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | \u200b | \u200b | $19,904,276 | \u200b | \u200b | $11,832,656 | \u200b | \u200b | $572,406 | \u200b | \u200b | $0\n+ | \u200b | \u200b | Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | \u200b | \u200b | $11,441,499 | \u200b | \u200b | ($8,760,674) | \u200b | \u200b | ($14,604,217) | \u200b | \u200b | $1,721,801\n+ | \u200b | \u200b | Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | \u200b | \u200b | $61,546 | \u200b | \u200b | $5,537,345 | \u200b | \u200b | $20,842 | \u200b | \u200b | $0\n+ | \u200b | \u200b | Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | \u200b | \u200b | $1,459,244 | \u200b | \u200b | ($3,354,547) | \u200b | \u200b | ($3,629,087) | \u200b | \u200b | $875,951\n- | \u200b | \u200b | Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | \u200b | \u200b | $713,294 | \u200b | \u200b | $719,153 | \u200b | \u200b | $0 | \u200b | \u200b | $332,759\n= | \u200b | \u200b | Compensation Actually Paid | \u200b | \u200b | $32,491,540 | \u200b | \u200b | $\u200b5,199,835 | \u200b | \u200b | ($16,981,618) | \u200b | \u200b | $3,103,004", + "rows": [ + [ + "NEO Average", + "", + "", + "", + "", + "", + "", + "", + "", + "", + "", + "", + "", + "", + "", + "" + ], + [ + "+/-", + "\u200b", + "\u200b", + "", + "\u200b", + "\u200b", + "2020", + "\u200b", + "\u200b", + "2021", + "\u200b", + "\u200b", + "2022", + "\u200b", + "\u200b", + "2023" + ], + [ + "", + "\u200b", + "\u200b", + "Summary Compensation Table - 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Total Compensation | \u200b | \u200b | $10,350,414 | \u200b | \u200b | $24,302,144 | \u200b | \u200b | $2,209,789 | \u200b | \u200b | $838,011\n- | \u200b | \u200b | Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | \u200b | \u200b | $10,012,145 | \u200b | \u200b | $23,637,936 | \u200b | \u200b | $1,551,351 | \u200b | \u200b | $0\n+ | \u200b | \u200b | Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | \u200b | \u200b | $19,904,276 | \u200b | \u200b | $11,832,656 | \u200b | \u200b | $572,406 | \u200b | \u200b | $0\n+ | \u200b | \u200b | Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | \u200b | \u200b | $11,441,499 | \u200b | \u200b | ($8,760,674) | \u200b | \u200b | ($14,604,217) | \u200b | \u200b | $1,721,801\n+ | \u200b | \u200b | Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | \u200b | \u200b | $61,546 | \u200b | \u200b | $5,537,345 | \u200b | \u200b | $20,842 | \u200b | \u200b | $0\n+ | \u200b | \u200b | Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | \u200b | \u200b | $1,459,244 | \u200b | \u200b | ($3,354,547) | \u200b | \u200b | ($3,629,087) | \u200b | \u200b | $875,951\n- | \u200b | \u200b | Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | \u200b | \u200b | $713,294 | \u200b | \u200b | $719,153 | \u200b | \u200b | $0 | \u200b | \u200b | $332,759\n= | \u200b | \u200b | Compensation Actually Paid | \u200b | \u200b | $32,491,540 | \u200b | \u200b | $\u200b5,199,835 | \u200b | \u200b | ($16,981,618) | \u200b | \u200b | $3,103,004" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b571", + "block_sequence": 571, + "block_sha256": "c19523d0ee8266a0f94a8d08944f91a3f06f38d4ad397bc024dbdcf3383643d5", + "block_type": "paragraph", + "char_count": 301, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 571, + "char_end": 301, + "char_start": 0, + "fragment_sha256": "46dfc2fb757b92d43a03fe259ae23a966e36fe1de832c7256b9d84cc23c60ed3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "Please see footnote 1 for the Non-PEO NEOs included in the average for each indicated fiscal year. Equity Award values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b572", + "block_sequence": 572, + "block_sha256": "a0e6e1c9c26974ee3d8184fbc670d058ada05df7ed7d337a0bc794405e2c7421", + "block_type": "paragraph", + "char_count": 372, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 572, + "char_end": 372, + "char_start": 0, + "fragment_sha256": "b32162e76d45fd021b36a2da4ef84c139db80659437ef8ed0696ecc527b080b1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "5. Pursuant to Item 402(v) of Regulation S-K, the comparison assumes $100 was invested in our common stock on December 21, 2020, which was the first day our common stock began trading after the closing of the Business Combination, using the closing stock price on that date. Historic stock price performance is not necessarily indicative of future stock price performance." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b573", + "block_sequence": 573, + "block_sha256": "ce9d162d3b715e93908af1fb2b47779cb2e1cb72e4324bb845f4db5b5a13f080", + "block_type": "paragraph", + "char_count": 219, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 573, + "char_end": 219, + "char_start": 0, + "fragment_sha256": "0bd1a0790959048589b20ccc8b12394a90fc3c4cf994c9823addca65cf8fe05b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "6. The TSR Peer Group is the Nasdaq Real Estate and Other Financial Services Index. This calculation assumes that $100 was invested in this index on December 21, 2020 (aligned with the period used in footnote #5 above)." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b574", + "block_sequence": 574, + "block_sha256": "a4bbd5fa3ee5ced43d06ed5c4f5e9fda5c1708c523c6bd4aa3ae1b015e4647d2", + "block_type": "paragraph", + "char_count": 162, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 574, + "char_end": 162, + "char_start": 0, + "fragment_sha256": "2b2bb709a994ce2eb92266dffd42dc28163d3ad9448e840d611283bf9a3aaa43", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", + "table": null, + "text": "7. Amounts reported in this column represent the Company\u2019s net income (loss) for the indicated years as reported in our 2023 Annual Report and 2022 Annual Report." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b575", + "block_sequence": 575, + "block_sha256": "f6786d575afb81fa42a8a59e440ffb291f9970e638499f0a448b07ee4472d2a8", + "block_type": "heading", + "char_count": 46, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 575, + "char_end": 46, + "char_start": 0, + "fragment_sha256": "2128c845d3086014bc11e0e220b9e880ca3818201a97c86652a07d1ebd0bb079", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance", + "Tabular List of Financial Performance Measures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s112", + "table": null, + "text": "Tabular List of Financial Performance Measures" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b576", + "block_sequence": 576, + "block_sha256": "ecc73cdf76c87f4e0b5ddf76aa34bdeaabe6a912d5aedda6592dc98f31f62b75", + "block_type": "paragraph", + "char_count": 427, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 576, + "char_end": 427, + "char_start": 0, + "fragment_sha256": "49eb632807168e674057360c8d6fabbad3dfc9cfb8ace515917b96942c8be6f3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance", + "Tabular List of Financial Performance Measures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s112", + "table": null, + "text": "Prior to 2024, we did not use any financial performance measures in determining executive compensation, other than stock price, given that the value to be delivered pursuant to the equity awards granted to our NEOs is dependent on our future stock price. Pursuant to SEC guidance, stock price is not a permissible \u201cCompany Selected Measure.\u201d As a result, we do not have a Company Selected Measure to reflect in the table above." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b577", + "block_sequence": 577, + "block_sha256": "c498137979d3a71109c5ed2156e6f70f31365dd3bc38ca7f24250b0548428f47", + "block_type": "heading", + "char_count": 40, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 577, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "1af2d899aff143dd0cabbf593ae52523391f6d9343d84c267e3cdb5f216a3031", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance", + "Tabular List of Financial Performance Measures", + "Relationship Between Pay and Performance" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s113", + "table": null, + "text": "Relationship Between Pay and Performance" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b578", + "block_sequence": 578, + "block_sha256": "deb389405725fe898214b062d34e1e9fe80c0eda051942ae766eebff3c64f9a9", + "block_type": "paragraph", + "char_count": 612, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 578, + "char_end": 612, + "char_start": 0, + "fragment_sha256": "2cbe5cc7252facc3837c8063d8f8dafa2139825efac3b69d91b7a7c3423106fe", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance", + "Tabular List of Financial Performance Measures", + "Relationship Between Pay and Performance" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s113", + "table": null, + "text": "\u201cCompensation actually paid,\u201d as calculated per SEC Item 402(v) of Regulation S-K, reflects cash compensation actually paid as well as changes to the fair values of equity awards during the years shown in the table based on year-end or vesting date stock prices, and various accounting valuation assumptions. Due to how CAP is calculated, the CAP as reported for each year does not reflect the actual amounts earned by our NEOs from their equity awards. CAP generally fluctuates annually due to the change in our stock price from year to year as well as varying levels of actual achievement of performance goals." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b579", + "block_sequence": 579, + "block_sha256": "7773f7ee97e13f468e6a21c0f9dd5dd99f61d9b7c13de9f7944be848edd4d00f", + "block_type": "paragraph", + "char_count": 592, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 579, + "char_end": 592, + "char_start": 0, + "fragment_sha256": "c569a04c8f65d9e3da6ad86676d335ca51bdec3fc4734fcc26d4c230e8598067", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance", + "Tabular List of Financial Performance Measures", + "Relationship Between Pay and Performance" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s113", + "table": null, + "text": "Because CAP does not reflect the actual amount earned by our NEOs on their equity compensation, we do not use this measure for understanding how NEO pay aligns with our Company performance. For a discussion of how our Compensation Committee assessed \u201cpay-for-performance\u201d and how our executive compensation program is designed to link executive compensation with the achievement of our financial and strategic objectives as well as stockholder value creation each year, see \u201cCompensation Discussion and Analysis\u201d in this proxy statement and our proxy statements filed in 2021, 2022, and 2023." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b580", + "block_sequence": 580, + "block_sha256": "a64a8242784e0e012f91e8fa5c2a3b3da418fc3cf2e6254d51e5cdab73ce9125", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 580, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "699d6dffc495ab3c1c744b96603c0d57259ca4e7e641ee638431649fa3b6f935", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + 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Equity Compensation Plans (excludes securities reflected in first column) |\n| Equity compensation plans approved by security holders(1) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 15,829,372(7) |\n| Restricted Stock Units | \u200b | \u200b | 47,990,467(3) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 |\n| Options to Purchase Common Stock | \u200b | \u200b | 7,819,572(4) | \u200b | \u200b | $2.4418(6) | \u200b | \u200b | \u2014 |\n| Equity compensation plans not approved by security holders(2) | \u200b | \u200b | 12,905,561(5) | \u200b | \u200b | \u2014 | \u200b | \u200b | 17,306,522 |\n| Total | \u200b | \u200b | 68,715,600 | \u200b | \u200b | $2.4418 | \u200b | \u200b | 33,135,894 |", + "n_cols": 10, + "n_rows": 6, + "plain_text": "Plan category: | \u200b | \u200b | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights | \u200b | \u200b | Weighted- Average Exercise Price of Outstanding Options, Warrants, and Rights | \u200b | \u200b | Number of Securities Available for Future Issuance Under Equity Compensation Plans (excludes securities reflected in first column)\nEquity compensation plans approved by security holders(1) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 15,829,372(7)\nRestricted Stock Units | \u200b | \u200b | 47,990,467(3) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nOptions to Purchase Common Stock | \u200b | \u200b | 7,819,572(4) | \u200b | \u200b | $2.4418(6) | \u200b | \u200b | \u2014\nEquity compensation plans not approved by security holders(2) | \u200b | \u200b | 12,905,561(5) | \u200b | \u200b | \u2014 | \u200b | \u200b | 17,306,522\nTotal | \u200b | \u200b | 68,715,600 | \u200b | \u200b | $2.4418 | \u200b | \u200b | 33,135,894", + "rows": [ + [ + "Plan category:", + "\u200b", + "\u200b", + "Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights", + "\u200b", + "\u200b", + "Weighted- Average 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+ "$2.4418", + "\u200b", + "\u200b", + "33,135,894" + ] + ], + "table_index": 34, + "table_kind": "data" + }, + "text": "Plan category: | \u200b | \u200b | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights | \u200b | \u200b | Weighted- Average Exercise Price of Outstanding Options, Warrants, and Rights | \u200b | \u200b | Number of Securities Available for Future Issuance Under Equity Compensation Plans (excludes securities reflected in first column)\nEquity compensation plans approved by security holders(1) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014 | \u200b | \u200b | 15,829,372(7)\nRestricted Stock Units | \u200b | \u200b | 47,990,467(3) | \u200b | \u200b | \u2014 | \u200b | \u200b | \u2014\nOptions to Purchase Common Stock | \u200b | \u200b | 7,819,572(4) | \u200b | \u200b | $2.4418(6) | \u200b | \u200b | \u2014\nEquity compensation plans not approved by security holders(2) | \u200b | \u200b | 12,905,561(5) | \u200b | \u200b | \u2014 | \u200b | \u200b | 17,306,522\nTotal | \u200b | \u200b | 68,715,600 | \u200b | \u200b | $2.4418 | \u200b | \u200b | 33,135,894" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b594", + "block_sequence": 594, + "block_sha256": "4670672ea433dfe94e2ed9feae74afd2a8a48ead764983007ad665a8659115b2", + "block_type": "paragraph", + "char_count": 2095, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 594, + "char_end": 2095, + "char_start": 0, + "fragment_sha256": "ed20d1357193eea336b7376adf7e8d042b467fae9fab217462425d581d38862f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorPay Versus Performance", + "AnchorEQUITY COMPENSATION PLAN INFORMATION" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s114", + "table": null, + "text": "(1) Consists of the Opendoor Labs Inc. 2014 Stock Plan (the \u201c2014 Plan\u201d), the Opendoor Technologies Inc. 2020 Incentive Award Plan (the \u201c2020 Plan\u201d) and the Opendoor Technologies Inc. 2020 Employee Stock Purchase Plan (the \u201cESPP\u201d). (2) Consists of the 2022 Inducement Award Plan (the \u201cInducement Plan\u201d). (3) Consists of 1,094,168 outstanding restricted stock units under the 2014 Plan and 46,896,299 outstanding restricted stock units under the 2020 Plan. (4) Consists of 7,772,697 outstanding options to purchase stock under the 2014 Plan and 46,875 outstanding options under the 2020 Plan. (5) Consists of 12,905,561 outstanding restricted stock units under the Inducement Plan. (6) As of December 31, 2023, the weighted-average exercise price of outstanding options under the 2014 Plan was $2.3660 and the weighted-average exercise price of outstanding options under the 2020 Plan was $15.0000. (7) No additional awards will be granted under the 2014 Plan and, as a result, no shares remain available for issuance for new awards under the 2014 Plan. The number of shares authorized under our 2020 Plan will increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2030, by an amount equal to the lesser of (A) a number equal to the excess (if any) of (1) 5% of the aggregate number of shares of Common Stock outstanding on the final day of the immediately preceding fiscal year over (2) the number of shares reserved for issuance under the 2020 Plan as of such date and (B) such smaller number of shares as determined by our Board. The number of shares authorized under our ESPP will increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2030, by an amount equal to the lesser of (A) 1% of the shares of Common Stock outstanding as of the last day of the immediately preceding fiscal year and (B) such smaller number of shares of Common Stock as determined by our Board; provided, however, that no more than 54,385,060 shares of Common Stock may be issued under the ESPP." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b595", + "block_sequence": 595, + "block_sha256": "8afa35f012c3524581551f70c67505387ab1e5dbb569f2ebcf97d3ecc5a041db", + "block_type": "heading", + "char_count": 30, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 595, + "char_end": 30, + "char_start": 0, + "fragment_sha256": "3faa4c099a3d90fca8373c1b6e854acab9fadac131e7767a897085e3caeeb3b8", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s115", + "table": null, + "text": "AnchorInducement Award Program" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b596", + "block_sequence": 596, + "block_sha256": "372e606081993957eebda09c167c423425626422c93212421b36d4f187a3f22f", + "block_type": "paragraph", + "char_count": 327, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 596, + "char_end": 327, + "char_start": 0, + "fragment_sha256": "6afec16fa8a4c26b63d12284aeb02a433bbcd1e044577a0dbb33ebb819802558", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s115", + "table": null, + "text": "In July 2022 our Compensation Committee adopted the 2022 Inducement Award Plan. Pursuant to applicable stock exchange rules, stockholder approval of the Inducement Plan is not required as a condition of the effectiveness of the Inducement Plan. A description of the principal features of the Inducement Plan is set forth below." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b597", + "block_sequence": 597, + "block_sha256": "b0f50b060453a458e2e767ea04800b1e31c5aa44ce9f380655ad1abc8f816123", + "block_type": "heading", + "char_count": 36, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 597, + "char_end": 36, + "char_start": 0, + "fragment_sha256": "0bff87a5f37d3484cd20d89de8230250c6c911c5c080c6cd5fc18a21d27443b5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorEligibility and Administration" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s116", + "table": null, + "text": "AnchorEligibility and Administration" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b598", + "block_sequence": 598, + "block_sha256": "217d103c67c5b816760e86c80646a80031d07c08cb5c1b49ea9fe343a3b50a3b", + "block_type": "paragraph", + "char_count": 630, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 598, + "char_end": 630, + "char_start": 0, + "fragment_sha256": "9222b673d451b326bcc3d31b77c1375d558a4414c53a2dc3e154fffc34f9651b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorEligibility and Administration" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s116", + "table": null, + "text": "Only certain prospective employees of the Company are eligible to participate in the Inducement Plan. The Inducement Plan is administered by our Compensation Committee. The plan administrator has the authority to grant and set the terms of all awards under, make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of, the Inducement Plan, subject to its express terms and conditions. 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known to us to be the beneficial owner of more than 5% of our voting shares; \u2022 each of our named executive officers and directors; and \u2022 all of our current executive officers and directors as a group. Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days of March 27, 2024. Percentage ownership of our voting securities is based on 688,553,971 shares of our common stock that were issued and outstanding as of March 27, 2024. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b620", + "block_sequence": 620, + "block_sha256": "375bd6b575c9ef0ade809cedd11f25259beee9744c83f7d17014bcdfb080557c", + "block_type": "table", + "char_count": 1099, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 620, + "char_end": 1099, + "char_start": 0, + "fragment_sha256": "03a55fa82551c983e8236c723d38ce18119878a10b34d0fbe446e56234447a5a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": 35, + "tag_name": "table" + }, + 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persons)(15) | \u200b | \u200b | 24,998,537 | \u200b | \u200b | 3.63%" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b621", + "block_sequence": 621, + "block_sha256": "ec7d6b0de68e222b94e82505d261ffcc1ffec90208ba8ed073077de47cf06a8a", + "block_type": "paragraph", + "char_count": 1659, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 621, + "char_end": 1659, + "char_start": 0, + "fragment_sha256": "dba956560b542221d5d86b6204b4a9bc4686abab2dbc9974bcb8854b9a665f11", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "* Less than 1% of our outstanding common stock. (1) Unless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85288. (2) Based solely on a Schedule 13G/A filed with the SEC on February 13, 2024 by the Vanguard Group. The Vanguard Group has (i) shared voting power over 412,051 shares of common stock, (ii) sole dispositive power over 85,258,732 shares of common stock, and (iii) shared dispositive power over 999,362 shares of common stock. The address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (3) Based solely on a Schedule 13D/A filed with the SEC on October 6, 2021, by Access Industries Management, LLC (\u201cAIM\u201d), AI LiquidRE LLC (\u201cAIL\u201d), LBIT 2002 LLC (\u201cLBIT\u201d) and Len Blavatnik (collectively, the \u201cReporting Persons,\u201d and each, a \u201cReporting Person\u201d). Consists of (i) 53,524,812 shares of common stock held directly by AIL and (ii) 74,102 shares of common stock held directly by LBIT and, in each case, may be deemed to be beneficially owned by AIM and Len Blavatnik because (a) AIM is the controlling entity of AIL and LBIT, respectively, and (b) Len Blavatnik controls AIM and LBIT and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL, with respect to shares held directly by AIL, and LBIT, with respect to shares held directly by LBIT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities. The address of each of the Reporting Persons is 40 West 57th St., 28th Floor, New York, New York 10019." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b622", + "block_sequence": 622, + "block_sha256": "2b26f654612c55717079b1f65243686bbe9eb068f602b073ddc7de2ecef4eced", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 622, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "11a2122023596e4356435eac22f945cd2613818f14544daba5f6819fa1c159b2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 59" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b623", + "block_sequence": 623, + "block_sha256": "01030c41bb1120bcf28d18c76fdfeceda5b0bee74f34dd5cadd0b3088b689c0d", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 623, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "bf45cfdd2c1c9459d1e9e3d9ed87a20ae2dc52b5041d2d5de440f2d4c59d1048", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + 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"block_sequence": 626, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 626, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b627", + "block_sequence": 627, + "block_sha256": "52e661a1233ea86bffce74ae465de45d577d19fcf5a987df1aaf3e2c3c01ad2c", + "block_type": "paragraph", + "char_count": 3660, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 627, + "char_end": 3660, + "char_start": 0, + "fragment_sha256": "9dde893c9e9531e71b20b15b7819b7b4b7d25e1076951eaa171df90c11d018db", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "(4) Based solely on a Schedule 13G filed with the SEC on January 26, 2024 by BlackRock, Inc. BlackRock Inc. has (i) sole voting power over 49,249,557 shares of common stock, and (ii) sole dispositive power over 50,672,097 shares of common stock. The address for BlackRock, Inc. is 50 Hudson Yards, New York, NY 10001. (5) Includes (i) 352,214 shares of common stock held by Christina Schwartz, (ii) 19,618 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024 and (iii) 63,701 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2024. (6) Includes (i) 1,735,841 shares of common stock held by Megan Meyer Toolson, (ii) 260,912 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024 and (iii) 355,560 shares of common stock issuable upon the exercise of options exercisable as of or within 60 days of Marcy 27, 2024. (7) Mr. Morillo resigned from his position as Chief Investment Officer effective February 21, 2023. (8) Includes (i) 117,238 shares of common stock held by Adam Bain, (ii) 4,460 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024, (iii) 225,000 shares of common stock held by 010118 Management, L.P. (\u201c010118\u201d) and (iv) 2,543,272 shares held by 01 Advisors 01 L.P. (\u201c01 Advisors\u201d). Mr. Bain is a managing member of 010118 and a managing partner of 01 Advisors and may be deemed a beneficial owner of the shares of common stock held by 010118 and 01 Advisors. (9) Includes 4,281 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (10) Includes (i) 206,962 shares of common stock held by Cipora Herman and (ii) 4,995 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (11) Includes (i) 470,298 shares of common stock held by Pueo Keffer and (ii) 4,817 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (12) Includes (i) 148,253 shares of common stock held by Jason Kilar and (ii) 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2024. (13) Includes (i) 107,547 shares of common stock held by John Rice and (ii) 5,709 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (14) Includes (i) 10,430 shares of common stock held by Glenn Solomon, (ii) 4,638 shares issuable pursuant to the RSUs that will vest within 60 days of March 27, 2024, (iii) 320,577 shares of common stock held by The Solomon Family Trust, (iv) 5,867,568 shares of common stock held of record by GGV Capital V L.P. (\u201cGGCV\u201d), (v) 6,597,680 shares of common stock held of record by GGV Capital Select L.P. (\u201cGGCS\u201d), (vi) 215,339 shares of common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (\u201cGGCVEF\u201d) and (vii) 79,205 shares of common stock held of record by GGV Capital LLC (\u201cGGVC LLC\u201d). GGV Capital V L.L.C (\u201cGGCV LLC\u201d) is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (\u201cGGCS LLC\u201d) is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC, GGCS LLC, and GGVC LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares. (15) Includes (i) 309,430 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024 and (ii) 443,534 shares of common stock issuable upon the exercise of options exercisable as of or within 60 days of Marcy 27, 2024 for all current executive officers and directors." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b628", + "block_sequence": 628, + "block_sha256": "8463425dbfda1d0958b2f6fca036fc2f271207c9d770472543ac892137ad35b0", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 628, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "a82d6ceca426ec2b0dbb5fd302842fc65001e338403e1e4937aebe82a27fee74", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY 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RELATIONSHIPS AND RELATED PERSON TRANSACTIONS AnchorPolicies and Procedures for Approval of Related Person Transactions Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). Our Board has adopted a written \u201cRelated Person Transaction Policy,\u201d setting forth the policies and procedures for the review and approval or ratification of related person transactions. For purposes of the Company\u2019s policy only, a \u201crelated person transaction\u201d is a transaction, arrangement or relationship (or any series of similar transactions, arrangements or relationships) in which (i) the Company is a participant, (ii) the amount involved exceeds $120,000 and (iii) a \u201crelated person\u201d had, has or will have a direct or indirect material interest. Transactions involving compensation for services provided to the Company as an employee, director, consultant or similar capacity by a related person are not covered by this policy. A related person is any executive officer, director, director candidate, or more than 5% stockholder of the Company, including any of their immediate family members, and any entity owned or controlled by such persons. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company\u2019s Chief Legal Officer by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Chief Legal Officer is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Our Audit Committee must review the relevant facts and circumstances of each related person transaction, including if the transaction is on terms comparable to those that could be obtained in arm\u2019s length dealings with an unrelated third party and the extent of the related person\u2019s interest in the transaction, take into account the conflicts of interest and corporate opportunity provisions of our Code of Conduct, and either approve or disapprove the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in the approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions. Other than as listed below, there are no related party transactions entered into since January 1, 2023 requiring disclosure (and other than equity and other compensation, termination, change in control and other arrangements, which are described under the section of this proxy titled \u201cExecutive Compensation\u201d). AnchorDirector and Officer Indemnification and Insurance We have entered into indemnification agreements with each of our directors and officers. These agreements, among other things, require us or will require us to indemnify each director (and in certain cases their related venture capital funds) and officer to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys\u2019 fees, judgments, fines and settlement amounts incurred by the director or officer in any action or proceeding, including any action or proceeding by or in right of us, arising out of the person\u2019s services as a director or officer. Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 61" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b634", + "block_sequence": 634, + "block_sha256": "09dfc6ec4e22687e5b6a7bf7d79f6ca8b15da0ba119d2e8c6bae0187757293df", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 634, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "cc18047fafb208e44b461dbddd2d452880ba5d055732927c1ed1eb0963e6e2bd", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "End Page 68" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b635", + "block_sequence": 635, + "block_sha256": "186cba7823772a6784c772f5ec287d3d491f43264a49063c1d36b26fb3d7877d", + "block_type": "page_number", + "char_count": 13, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 635, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "31862f421fddfe66cee5de25cfa47cd517e671172129310341a80a5deb7c09e2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "Begin Page 69" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b636", + "block_sequence": 636, + "block_sha256": "a4ae750b610e875e5fbaeed1eff6089bec7355cdfefab96275c3aef1b47ec56e", + "block_type": "other", + "char_count": 6, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 636, + "char_end": 6, + "char_start": 0, + "fragment_sha256": "6e587a6a3271df807605108a2c4712d667e3dd1c638b2132245194137e97ca7d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "a" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "Anchor" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b637", + "block_sequence": 637, + "block_sha256": "dee18caa47ed61ec83d207ff2dbfdbb1ecb6ea215dd82aa0f146e8528f7c734d", + "block_type": "page_header", + "char_count": 17, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 637, + "char_end": 17, + "char_start": 0, + "fragment_sha256": "fd72380561f1c4901f5bfc0335fa90419f484c15ea44c1b2d264ab7e866c48bb", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "p" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "TABLE OF CONTENTS" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b638", + "block_sequence": 638, + "block_sha256": "e93912d1599a845cb8747b7317a9563e630c7f0447b18887edbd13f860f52270", + "block_type": "paragraph", + "char_count": 2033, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 638, + "char_end": 2033, + "char_start": 0, + "fragment_sha256": "99f9563f580b5bd146a155683324c3b0081283d5bfe56890411607a45dc24583", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorInducement Award Program", + "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", + "table": null, + "text": "AnchorPROPOSAL 2 \u2014 RATIFICATION OF APPOINTMENT BY THE AUDIT COMMITTEE OF DELOITTE & TOUCHE LLP The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, we value the opinions of our stockholders and believe that stockholder ratification of our appointment is a good corporate governance practice. If our stockholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain Deloitte & Touche LLP. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of different independent auditors for the Company at any time during the year, if they determine that such a change would be in the best interests of the Company and its stockholders. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2023. Neither Deloitte & Touche LLP nor any of its members has any direct or indirect financial interest in or any connection with us in any capacity other than as our auditors, providing audit and non-audit services. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. In the event that the appointment of Deloitte & Touche LLP is not ratified by the stockholders at the Annual Meeting, our Audit Committee will consider this fact when it appoints the independent auditors for the fiscal year ending December 31, 2025. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b639", + "block_sequence": 639, + "block_sha256": "db7d24e2955fa52f574a0acde358479fe9b499bc088f952fc70d824d3d071784", + "block_type": "heading", + "char_count": 20, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 639, + "char_end": 20, + "char_start": 0, + "fragment_sha256": "8ce72a810bc9aadd9ea510b3687bcb551e2c72561b5840614e9001df0f8f06a2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s120", + "table": null, + "text": "Board Recommendation" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b640", + "block_sequence": 640, + "block_sha256": "e3090fcfc7076b45db47f4c036d21c5905a5853c8e75da4ae00e6826be0fcb9a", + "block_type": "paragraph", + "char_count": 209, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 640, + "char_end": 209, + "char_start": 0, + "fragment_sha256": "531c55a29aa3ec4ce02efe81ec102096c3d9ab9865b486b1589157dfd4e78a0f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s120", + "table": null, + "text": "The Board recommends a vote \u201cFOR\u201d the ratification of the appointment by the Audit Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2024." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b641", + "block_sequence": 641, + "block_sha256": "fd41f387e7f1f3686544a32312cec4388c5abf574db3f3baf06819763780147b", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 641, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "83f2f6af5996b07f0fa1d6a1e42109c7740014b7dc04652c96e686213327e001", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s120", + "table": null, + 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(2) Audit-related fees consist of fees for professional services rendered in connection with (1) the submission of various registration statements, and (2) agreed upon procedures related to certain compliance audits. (3) Tax fees consist of fees billed for services rendered for tax compliance, tax advice and tax planning. (4) All other fees consist of fees for all other services not included in the categories set forth above. All of the services of Deloitte & Touche LLP for 2023 and 2022 described above were pre-approved by the Audit Committee." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b650", + "block_sequence": 650, + "block_sha256": "8e484c87fada6b142a49d293937176b3056d920012b5425b32ef847ed55e4c8d", + "block_type": "heading", + "char_count": 56, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 650, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "01bc83a85f0db7710a4594d01122cab001796f024c829193c58e4872400bb05d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorAudit Committee Pre-Approval Policy and Procedures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s122", + "table": null, + "text": "AnchorAudit Committee Pre-Approval Policy and Procedures" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b651", + "block_sequence": 651, + "block_sha256": "9b6e4885cbe76bf52adcaa46da9d5c879a348c56499671ef2e1d280ae6bb65b3", + "block_type": "paragraph", + "char_count": 1294, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 651, + "char_end": 1294, + "char_start": 0, + "fragment_sha256": "834d04501368cb37bfdb6654a14f488b49b2b6643c376da69b42d50ed36b8956", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorAudit Committee Pre-Approval Policy and Procedures" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s122", + "table": null, + "text": "The Audit Committee has adopted a pre-approval policy (the \u201cPre-Approval Policy\u201d) that sets forth the procedures and conditions pursuant to which audit and non-audit services proposed to be performed by the independent auditor may be pre-approved. The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i)explicitly approved by the Audit Committee on a case-by-case basis (\u201cspecific pre-approval\u201d) or (ii)pre-approved on a collective basis pursuant to the Pre-Approval Policy entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (\u201ccollective pre-approval\u201d). Unless a type of service to be provided by Deloitte & Touche LLP has received collective pre-approval, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC\u2019s rules on auditor independence." + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b652", + "block_sequence": 652, + "block_sha256": "c5fd16b2923363952c34322639390a867c00081af4544bb0d4eaba2acfe5ad25", + "block_type": "heading", + "char_count": 35, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 652, + "char_end": 35, + "char_start": 0, + "fragment_sha256": "eb70781f3791c5d5e549dc5cbae96f01f93e864dd4aec3ecbe73de596104a043", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s123", + "table": null, + "text": "AnchorReport of the Audit Committee" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b653", + "block_sequence": 653, + "block_sha256": "08a995a63a4be64e56b4b9ee532ecd616f8edab1e4ea9508972e3f0c9233da40", + "block_type": "paragraph", + "char_count": 1871, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 653, + "char_end": 1871, + "char_start": 0, + "fragment_sha256": "94082130c7c680d1872a96d207e8ea8cc0faabcc386bad6211752d22736123d3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s123", + "table": null, + "text": "The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the \u201cCompany\u201d) for the fiscal year ended December 31, 2023 and has discussed these financial statements with management and the Company\u2019s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company\u2019s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (\u201cPCAOB\u201d) and the Securities and Exchange Commission. The Company\u2019s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm\u2019s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Cipora Herman (Chair) Dana Hamilton Pueo Keffer" + }, + { + "block_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b654", + "block_sequence": 654, + "block_sha256": "096a41b72fd64504b364d68d4e82cee70367f0719c1228fe7fb4564a5e6293ac", + "block_type": "paragraph", + "char_count": 57, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 654, + "char_end": 57, + "char_start": 0, + "fragment_sha256": "58bd7683d20fc576635be5e31c8e94306b1567fc7f6b00cffe80992780381f3f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorReport of the Audit Committee" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s123", + "table": null, + "text": "Opendoor Technologies Inc. // 2024 Proxy Statement \u200b \u200b 63" + }, + { + "block_id": 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This proposal, commonly known as a \u201cSay-on-Pay Vote,\u201d gives our stockholders the opportunity to express their views on our named executive officers\u2019 compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the \u201cExecutive Compensation\u201d section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. 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"f132ffa314a679d98dbf5861ce3b7b5b32dffd3424ca6b141148e78ca19363a9", + "block_type": "paragraph", + "char_count": 4433, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", + "block_sequence": 667, + "char_end": 4433, + "char_start": 0, + "fragment_sha256": "c2eba54f4baf3abfc15f936aea2f9533f6481b7169b28d091fb0b5b61648c3d5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Board Recommendation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s124", + "table": null, + "text": "AnchorADDITIONAL INFORMATION AnchorStockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2025 Annual Meeting pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 25, 2024. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Sydney Schaub. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2025 Annual Meeting, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than March 16, 2025 and not before February 14, 2025, provided, however, that if the date of the 2025 Annual Meeting is more than 30 days before, or more than 60 days after, the one-year anniversary of this year's Annual Meeting, notice by the stockholder to be timely must be so delivered or received, not more than the 120th day prior to such 2025 Annual Meeting date and not later than (i) the 90th day prior to such 2025 Annual Meeting date or, (ii) if later, the 10th day following the day on which public disclosure of the date of the 2025 Annual Meeting was first made by us. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2025 Annual Meeting. In addition to satisfying the foregoing requirements under our Bylaws, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than the Company\u2019s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act no later than the dates specified above. AnchorHouseholding of Annual Meeting Materials Under the rules adopted by the SEC, we may deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as \u201chouseholding\u201d and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of this proxy statement or our 2023 Annual Report, contact Broadridge Financial Solutions, Inc. by calling 1-866-540-7095 or in writing at 51 Mercedes Way, Edgewood, New York 11717, Attention: Householding Department. In addition, if you currently are a stockholder who shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household, you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address. AnchorOther Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting. However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. AnchorSolicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. 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(the “Annual Meeting”), which will be held on Friday, June 14, 2024, at 9:30 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2024. For further information on how to participate in the meeting, please see “General Information About the Annual Meeting & This Proxy Statement” in the accompanying proxy statement. We are pleased to make our annual report and proxy materials available to stockholders over the Internet under the U.S. Securities and Exchange Commission’s (the “SEC”) Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. It is very important that your shares be represented and voted at the Annual Meeting regardless of whether you plan to attend virtually. The accompanying proxy statement contains information about the matters on which you are being asked to vote, as well as specific instructions for voting over the telephone or via the Internet, or submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors (the “Board”). Thank you for your investment in Opendoor. We appreciate your support. Sincerely,"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b22", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b23", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b25"], "char_count": 84, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cb10fc851121304c651ca4ff9d9bfa21a3abaf2c9c0f4c0f3f16d09377e689be", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "OPENDOOR TECHNOLOGIES INC.", "Tempe, Arizona 85288", "AnchorLETTER TO STOCKHOLDERS FROM THE CHIEF EXECUTIVE OFFICER"], "items": [], "locators": 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II. | ​ | ​ | SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS | ​ | ​ | iv |\n| III. | ​ | ​ | NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS | ​ | ​ | v |\n| IV. | ​ | ​ | PROXY STATEMENT SUMMARY | ​ | ​ | 1 |\n| | ​ | ​ | Proposals and Board Recommendations | ​ | ​ | 1 |\n| | ​ | ​ | Our Board of Directors | ​ | ​ | 1 |\n| | ​ | ​ | Corporate Governance Highlights | ​ | ​ | 3 |\n| | ​ | ​ | Executive Compensation Highlights | ​ | ​ | 4 |\n| | ​ | ​ | Stockholder Engagement | ​ | ​ | 4 |\n| V. | ​ | ​ | GENERAL INFORMATION ABOUT THE ANNUAL MEETING & THIS PROXY STATEMENT | ​ | ​ | 6 |\n| | ​ | ​ | Proposals | ​ | ​ | 7 |\n| | ​ | ​ | Recommendations of the Board | ​ | ​ | 7 |\n| | ​ | ​ | Frequently Asked Questions About the Annual Meeting of Stockholders | ​ | ​ | 7 |\n| VI. | ​ | ​ | PROPOSAL 1 – ELECTION OF DIRECTORS | ​ | ​ | 13 |\n| | ​ | ​ | Our Board of Directors | ​ | ​ | 13 |\n| | ​ | ​ | Board Composition | ​ | ​ | 18 |\n| | ​ | ​ | Consideration of Board Diversity | ​ | ​ | 18 |\n| VII. | ​ | ​ | CORPORATE GOVERNANCE | ​ | ​ | 19 |\n| | ​ | ​ | Corporate Governance Highlights | ​ | ​ | 19 |\n| | ​ | ​ | Director Independence | ​ | ​ | 20 |\n| | ​ | ​ | Board Leadership Structure | ​ | ​ | 20 |\n| | ​ | ​ | Board’s Role in Risk Oversight | ​ | ​ | 21 |\n| | ​ | ​ | Board Meetings, Continued Education and Succession Planning | ​ | ​ | 21 |\n| | ​ | ​ | Stockholder Recommendations of Director Candidates | ​ | ​ | 22 |\n| | ​ | ​ | Stockholder Engagement | ​ | ​ | 22 |\n| | ​ | ​ | Communications from Stockholders | ​ | ​ | 23 |\n| | ​ | ​ | Stock Ownership Guidelines | ​ | ​ | 23 |\n| | ​ | ​ | Corporate Governance Documents & Policies | ​ | ​ | 23 |\n| | ​ | ​ | Prohibitions on Hedging, Pledging and Short-Term Speculative Transactions | ​ | ​ | 23 |\n| | ​ | ​ | Board Committees | ​ | ​ | 25 |\n| VIII. | ​ | ​ | OUR EXECUTIVE OFFICERS | ​ | ​ | 28 |\n| IX. | ​ | ​ | EXECUTIVE COMPENSATION | ​ | ​ | 29 |\n| | ​ | ​ | Compensation Discussion and Analysis | ​ | ​ | 29 |\n| | ​ | ​ | Compensation-Setting Process | ​ | ​ | 34 |\n| | ​ | ​ | Compensation Elements | ​ | ​ | 38 |\n| | ​ | ​ | Hedging and Pledging of Securities | ​ | ​ | 42 |\n| | ​ | ​ | Stock Ownership Guidelines | ​ | ​ | 42 |\n| | ​ | ​ | Clawbacks | ​ | ​ | 42 |\n| | ​ | ​ | Compensation Committee Report | ​ | ​ | 43 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b33", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b35"], "char_count": 18, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "49843e7db48907d70439c23aae87bc8825262cefe1caaacf1c138b9343fde269", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", 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Payments Upon Termination or Change in Control | ​ | ​ | 48 |\n| | ​ | ​ | Compensation Committee Interlocks and Insider Participation | ​ | ​ | 48 |\n| | ​ | ​ | Non-Employee Director Compensation | ​ | ​ | 49 |\n| | ​ | ​ | 2023 Director Compensation Table | ​ | ​ | 50 |\n| | ​ | ​ | CEO Pay Ratio | ​ | ​ | 51 |\n| | ​ | ​ | Pay Versus Performance | ​ | ​ | 52 |\n| X. | ​ | ​ | EQUITY COMPENSATION PLAN INFORMATION | ​ | ​ | 56 |\n| | ​ | ​ | Inducement Award Program | ​ | ​ | 56 |\n| XI. | ​ | ​ | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | ​ | ​ | 59 |\n| XII. | ​ | ​ | CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS | ​ | ​ | 61 |\n| | ​ | ​ | Policies and Procedures for Approval of Related Person Transactions | ​ | ​ | 61 |\n| XIII. | ​ | ​ | PROPOSAL 2 – RATIFICATION OF APPOINTMENT BY THE AUDIT COMMITTEE OF DELOITTE & TOUCHE LLP | ​ | ​ | 62 |\n| | ​ | ​ | Principal Accountant Fees and Services | ​ | ​ | 63 |\n| | ​ | ​ | Audit Committee Pre-Approval Policy and Procedures | ​ | ​ | 63 |\n| | ​ | ​ | Report of the Audit Committee | ​ | ​ | 63 |\n| XIV. | ​ | ​ | PROPOSAL 3 – APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS | ​ | ​ | 64 |\n| XV. | ​ | ​ | ADDITIONAL INFORMATION | ​ | ​ | 65 |\n| | ​ | ​ | Stockholder Proposals and Director Nominations | ​ | ​ | 65 |\n| | ​ | ​ | Householding of Annual Meeting Materials | ​ | ​ | 65 |\n| | ​ | ​ | Other Matters | ​ | ​ | 65 |\n| | ​ | ​ | Solicitation of Proxies | ​ | ​ | 65 |\n| | ​ | ​ | 2023 Annual Report | ​ | ​ | 66 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b38"], "char_count": 1562, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "dfea60edfb686e532d224017e70d6452d95e72d4a4f4b9a03e16d763fe4727a6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": 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Statements containing words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strategy,” “strive,” “target,” “vision,” “will,” or “would,” any negative of these words or other similar terms or expressions may identify forward-looking statements. The absence of these words does not mean that a statement is not forward-looking. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. Differences in our actual results from those described in these forward-looking statements may result from actions taken by us as well as from risks and uncertainties beyond our control. For more information about potential factors that could affect our business and financial results, please review the “Risk Factors” described in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC and in our other filings with the SEC. Except as may be required by law, we do not intend, and undertake no duty, to update this information to reflect future events or circumstances. 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the number of shares of common stock you own. To ensure that a quorum is present at the annual meeting, please vote your shares over the Internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the annual meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the annual meeting, you will be able to vote electronically, even if you have previously submitted your proxy.\n\nTo Our Stockholders: NOTICE IS HEREBY GIVEN that the 2024 Annual Meeting of Stockholders (the “Annual Meeting”) of Opendoor Technologies Inc. (the “Company” or “Opendoor”) will be held on Friday, June 14, 2024, at 9:30 a.m. Pacific Time. The Annual Meeting will be a virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/OPEN2024 and enter your 16-digit control number included in this Notice of Internet Availability of Proxy Materials (this “Internet Notice”), your proxy card or the instructions that accompanied your proxy materials. You will not be able to attend the Annual Meeting physically. If you wish to attend the Annual Meeting, detailed instructions are provided under “How do I attend this year’s Annual Meeting?” on page 10 of the accompanying proxy statement. We have also provided information regarding how stockholders can engage during the Annual Meeting, including how they can vote, ask questions, request technical support and access information following the Annual Meeting within the accompanying proxy statement. At the Annual Meeting, stockholders will consider and vote on the following matters:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b58", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b59", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b61", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b63"], "char_count": 2178, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b94e101d1a98c5c194265c097d4c6e53e2924f2a87f8bbc98d09657ffeb81236", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2024"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 58, "char_end": 831, "char_start": 0, "fragment_sha256": "b8880451ffc6a97053b66773d12279e33c4ea63de967667233e492e77157d327", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2024"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 59, "char_end": 10, "char_start": 0, "fragment_sha256": "c0a490f5d47abb3b8da1683bc4caba20bacaa88aec157945b8a48af0d6676ed4", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2024"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 61, "char_end": 6, "char_start": 0, "fragment_sha256": "7171e5247f3985c4819613e54f1f42f836c929b904863d9987160d059aa5a788", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2024"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 63, "char_end": 1325, "char_start": 0, "fragment_sha256": "40e0947af3216e07941d5dcb4156e042bc97840810b3e7ce311b4485a27dbbc7", "heading_path": ["SCHEDULE 14A", "Opendoor Technologies Inc.", "AnchorNOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS", "Location:", "OPEN2024"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p16", "passage_kind": "narrative", "passage_sequence": 16, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s24", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. Information relevant to these matters is set forth in the accompanying proxy statement. Stockholders of record of our common stock as of close of business on Monday, April 17, 2024 (the “Record Date”), are entitled to notice of, and to vote at, the Annual Meeting or any postponement, continuation or adjournment thereof. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock.\n\nEnd Page 6\n\nAnchor\n\nOn or about April 24, 2024, we expect to mail to our stockholders the Internet Notice containing instructions on how to access this proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2023 (our “2023 Annual Report”). The Internet Notice provides instructions on how to vote via the Internet or by telephone and how to receive a paper copy of our proxy materials. It is important that your shares be represented regardless of the number of shares of common stock you may hold. Whether or not you plan to attend the Annual Meeting, we urge you to vote your shares via the toll-free telephone number or over the Internet, as described in the enclosed materials. If you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed return envelope. Promptly voting your shares will ensure the presence of a quorum at the Annual Meeting and will save us the expense of further solicitation. Submitting your proxy now will not prevent you from voting your shares at the Annual Meeting if you desire to do so, as your proxy is revocable at your option. 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(the “Company,” “Opendoor,” “we” or “us”) for use at the Company’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on Friday, June 14, 2024, at 9:30 a.m. Pacific Time, and at any postponement, continuation or adjournment thereof. The Annual Meeting will be held in a virtual meeting format only. Based on stockholders’ and our experiences at previous virtual meetings, we believe our virtual meeting format offers stockholders the same opportunities to participate as an in-person meeting and allows us to provide consistent opportunities for engagement to all stockholders, regardless of their geographic location. Therefore, we have determined that the Annual Meeting will be held in a virtual meeting format only. 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"AnchorProposals"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p36", "passage_kind": "narrative", "passage_sequence": 36, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s44", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "At the Annual Meeting, stockholders will consider and vote on the following matters:\n\nThe stockholders will also act on any other business that may properly come before the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. We know of no other business that will be presented at the Annual Meeting. If any other matter properly comes before the stockholders for a vote at the Annual Meeting, however, the proxy holders named on the Company’s proxy card will vote your shares in accordance with their best judgment. Information relevant to these matters is set forth in this proxy statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b142", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b144"], "char_count": 443, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c20126e7babc546e8735dc652b9f239343bb39dcd3f3f91b742b3571a88af8e2", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorRecommendations of the Board"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 142, "char_end": 368, "char_start": 0, "fragment_sha256": "4c215ebe2ab1e0cfd46d3baa7c553791ba4b1fe916b564fa2b51e79a445fc53e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorRecommendations of the Board"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 144, "char_end": 73, "char_start": 0, "fragment_sha256": "05beeaa63df8f0b8c67799c4aa535badc7e875712c6a69251588150824534c9c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorRecommendations of the Board"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p37", "passage_kind": "narrative", "passage_sequence": 37, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s45", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted, and the Board recommends that you vote:\n\nAnchorFrequently Asked Questions About the Annual Meeting of Stockholders"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b146", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b147", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b148", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b150"], "char_count": 1088, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "d74da5d90b811e04cdcd583444d56a2232715e2b4c54ff89b15dfcb9c6c0bed6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 146, "char_end": 1009, "char_start": 0, "fragment_sha256": "45b6489c61a32b41d18d6bd973282ae940b32ae31b1fd3f9a40a47ac81a2fd08", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 147, "char_end": 56, "char_start": 0, "fragment_sha256": "67b31bc9a95b1cd87c2628aba7a1a44417e03c84daa4c1ed66f7c3d985eed412", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 148, "char_end": 11, "char_start": 0, "fragment_sha256": "3cbc7eaa19d2148b7597c6532510735c5c4c4dcdc9707e707f1ae3bd5b036bf1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 150, "char_end": 6, "char_start": 0, "fragment_sha256": "078f0833b166e5f503cc1cd0bafccad37ecf30e66c5d85c9909aae0e4d283dae", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p38", "passage_kind": "narrative", "passage_sequence": 38, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "As permitted by SEC rules, Opendoor is making this proxy statement and its 2023 Annual Report available to its stockholders electronically via the Internet. On or about April 24, 2024, we expect to mail to our stockholders of record entitled to vote at the Annual Meeting the Internet Notice containing instructions on how to access this proxy statement and our 2023 Annual Report and vote online. If you received an Internet Notice by mail, you will not receive a printed copy of the proxy materials in the mail unless you specifically request them. Instead, the Internet Notice instructs you on how to access and review all of the important information contained in the proxy statement and 2023 Annual Report. The Internet Notice also instructs you on how you may submit your proxy over the Internet. If you received an Internet Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials contained on the Internet Notice.\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 7\n\nEnd Page 14\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b152"], "char_count": 3780, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "de09956d898e02bb8b343286d36f1a205fd21661f3ca26904b479c3718da90fa", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 152, "char_end": 3780, "char_start": 0, "fragment_sha256": "5c4aa4b1c4cd3f8174c9114a493cd3feda270943942ff7dc3c6992f226b5b6b8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Why did I receive a notice regarding the availability of proxy materials on the Internet?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p39", "passage_kind": "narrative", "passage_sequence": 39, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s46", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Will I receive printed copies of the proxy materials? If you received printed copies of our proxy materials, then instructions regarding how you can vote are contained on the proxy card included in those materials. Who is entitled to vote at the Annual Meeting? Holders of record of our common stock as of Monday, April 17, 2024 (the “Record Date”) will be entitled to notice of, and such stockholders and holders of a valid proxy will be entitled to vote at, the Annual Meeting or any postponement, continuation or adjournment of the Annual Meeting. As of the Record Date, 691,575,743 shares of our common stock (“Common Stock”) were issued and outstanding and entitled to vote at the Annual Meeting. Each share of Common Stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock. Stockholder of Record: Shares Registered in Your Name Each holder of record of Common Stock on the Record Date will be entitled to one vote for each share held on all matters to be voted upon at the Annual Meeting. As a stockholder of record, you may vote at the Annual Meeting, or prior to the Annual Meeting, vote through the Internet or by telephone, or by mail using a proxy card that you received or that you may request. See “How do I vote my shares if I am a stockholder of record?” below. Whether or not you plan to attend the Annual Meeting, we urge you vote by proxy through the Internet or by telephone as instructed below, or by completing a proxy card that you may request or that we may elect to deliver at a later time. Stockholders who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2024 to vote during the Annual Meeting. The stock transfer books will not be closed between the Record Date and the Annual Meeting date. A complete list of stockholders entitled to vote at the Annual Meeting will be available for examination at our principal executive offices at the address listed above for a period of ten days prior to the Annual Meeting. Beneficial Owner: Shares Registered in the Name of a Broker or Bank If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner of shares held in “street name” and the Notice is being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting during the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend the Annual Meeting. However, since you are not the stockholder of record, you may only vote your shares during the Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2024 to vote during the Annual Meeting. What is the difference between being a “record holder” and holding shares in “street name”? A record holder holds shares in their name. Shares held in “street name” means shares that are held in the name of a bank or broker on a person’s behalf. 8 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b153", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b155"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "97ea74bafe9da22651b2bb5416d2cf02745b42d0a56531c46e9b080cab9f36a8", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", 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"content_sha256": "7534d4413382520783465e3c0b3069d6cb8c17d2a1f550b1ac2eb53c53cda21b", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How do I vote my shares if I am a stockholder of record?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 158, "char_end": 218, "char_start": 0, "fragment_sha256": "3e83f5b599dbe27241fe003a0cc5df426c18f603b385bc3a9da7fafebab9025d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How do I vote my shares if I am a stockholder of record?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 160, "char_end": 233, "char_start": 0, "fragment_sha256": "523e26e13c8d2d59187992edce1f6f403050724ef1266e3ef1dffa406b4fa518", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How do I vote my shares if I am a stockholder of record?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p41", "passage_kind": "narrative", "passage_sequence": 41, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s47", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If you are the record holder of your shares, you may vote in one of four ways. You may vote by submitting your proxy over the Internet, by telephone or by mail, or you may vote electronically during the Annual Meeting.\n\nInternet and telephone voting facilities for stockholders of record will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on June 13, 2024. We encourage stockholders to submit their proxy via telephone or online."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b162"], "char_count": 2169, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6be218d2413cc0ee8495bc71dd401ace6094c64be1cb98d75fa64cbb720ad364", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Am I entitled to vote if my shares are held in “street name”?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 162, "char_end": 2169, "char_start": 0, "fragment_sha256": "c3b06564554c2d5613a780be6801df24a21913a239fda7890316b27128468adb", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Am I entitled to vote if my shares are held in “street name”?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p42", "passage_kind": "narrative", "passage_sequence": 42, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s48", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in “street name”), you should contact your bank or broker to obtain your control number or otherwise vote through the bank or broker. The organization holding your account is considered to be the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you should have received an Internet Notice or voting instructions from the broker or other nominee holding your shares. You should follow the instructions in the Internet Notice or voting instructions provided by your broker or nominee in order to instruct your broker or other nominee on how to vote your shares. The availability of telephone and Internet voting will depend on the voting process of the broker or nominee. Please contact your bank, broker or other agent if you have questions about their instructions on how to vote your shares. Please also note that since you are not the stockholder of record, you may only vote your shares during the Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2024 to vote during the Annual Meeting. You will need the 16-Digit Control Number included on your Internet Notice, your proxy card (if you received a printed copy of the proxy materials) or the instructions that accompanied your proxy materials to join the Annual Meeting. If you do not provide your broker or bank with instructions on how to vote your shares, your broker or bank will be able to vote your shares with respect to the ratification of the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024 (Proposal 2) but not for Proposal 1 (Election of Directors) or Proposal 3 (Say-on-Pay vote). For more information, see “What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?” and “What are broker non-votes?” below."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b164"], "char_count": 290, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0b8ce3ac3678b8b3d07f71f52e069a95ad147bf14df670bfc1a1b07b88ff324a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will any other business be conducted at the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 164, "char_end": 290, "char_start": 0, "fragment_sha256": "2321232b9d1c871d27dd51fb8ef104d0bb1343b65ecfc3cad22edf2b0ba45721", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will any other business be conducted at the Annual Meeting?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p43", "passage_kind": "narrative", "passage_sequence": 43, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s49", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "We know of no other business that will be presented at the Annual Meeting. If any other matter properly comes before the stockholders for a vote at the Annual Meeting, however, the proxy holders named on the Company’s proxy card will vote your shares in accordance with their best judgment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b166", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b167", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b168", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b170"], "char_count": 369, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "74e151c7591336ca574a766dd0de8a793ba0515acb5755899009da5b35021941", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 166, "char_end": 290, "char_start": 0, "fragment_sha256": "9f6bf79d968a00c4e0b9aa89b50a36ef9182bca5ccc9700f3391822d34e120df", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 167, "char_end": 56, "char_start": 0, "fragment_sha256": "b6a45473e727b66e4384222e60ac7460860bd870539d7adbdcbd95a2256785b8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 168, "char_end": 11, "char_start": 0, "fragment_sha256": "b963b291670a4af1983af47556819537db9924d014522deeafc775b98910b79f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 170, "char_end": 6, "char_start": 0, "fragment_sha256": "a53021d6481271e2282f9fa6662bdf36f5133852b1ce96044be856b8b9ae0c94", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many shares must be present to hold the Annual Meeting?"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p44", "passage_kind": "narrative", "passage_sequence": 44, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s50", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "A quorum must be present at the Annual Meeting for any business to be conducted. The presence at the Annual Meeting, online or by proxy, of the holders of a majority in voting power of the common stock issued and outstanding and entitled to vote on the Record Date will constitute a quorum.\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 9\n\nEnd Page 16\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b173"], "char_count": 1007, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a42bfac714a9d4327b4087ce9b258ba90ba5689c707b5d05633009a65ad899a6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorHow do I attend this year’s Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 173, "char_end": 1007, "char_start": 0, "fragment_sha256": "ff4e71728cc2174b78ffc14a17ebee43a74a1cd0ab20324f70c8e36467490e4f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorHow do I attend this year’s Annual Meeting?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p45", "passage_kind": "narrative", "passage_sequence": 45, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s51", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "To participate in our Annual Meeting, including to vote and ask questions during the Annual Meeting, visit www.virtualshareholdermeeting.com/OPEN2024 with your 16-digit control number included in the Internet Notice, proxy card or the instructions that accompanied your proxy materials. If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You may be required to provide a legal proxy from your bank or broker. If you are unable to obtain a legal proxy to vote your shares, you will still be able to attend the Annual Meeting, but will not be able to vote your shares. Instructions on how to connect and participate via the Internet are posted at www.virtualshareholdermeeting.com/OPEN2024. Even if you plan to attend the live audio webcast of the Annual Meeting, we encourage you to vote in advance by Internet, telephone or mail so that your vote will be counted even if you later decide not to attend the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b175"], "char_count": 545, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "88d87059327522d911637c609fe872365224a3559d1defd4ef799d3d9ccdfebe", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What if I encounter technical difficulties trying to join or during the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 175, "char_end": 545, "char_start": 0, "fragment_sha256": "0420e6095324f2aba104879accdcc200377ac794bdf329181884b68827577380", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What if I encounter technical difficulties trying to join or during the Annual Meeting?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p46", "passage_kind": "narrative", "passage_sequence": 46, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s52", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "We will have technicians ready to assist you with any technical difficulties you may have when accessing the Annual Meeting live audio webcast. Please be sure to check in by 9:15 a.m. Pacific Time on June 14, 2024, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please call the phone number listed at www.virtualshareholdermeeting.com/OPEN2024."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b177"], "char_count": 1710, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5d532249fee8d139fb8aebfe07f53383d535ff434ca1070015f2bb894ab363d0", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will there be a question and answer session during the Annual Meeting?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 177, "char_end": 1710, "char_start": 0, "fragment_sha256": "fc6b57e0d36f2113d61f2017aec4bef8bdad511ef505bff8c96cdc9f14b8e753", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Will there be a question and answer session during the Annual Meeting?"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p47", "passage_kind": "narrative", "passage_sequence": 47, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s53", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer questions submitted online during the meeting that are pertinent to the Company and the meeting matters, as time permits. Our Annual Meeting allows stockholders to submit questions and comments before and during the Annual Meeting. Only stockholders that have accessed the Annual Meeting as a stockholder by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things: • irrelevant to the business of the Company or to the business of the Annual Meeting; • related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; • related to any pending, threatened or ongoing litigation; • related to personal grievances; • derogatory references to individuals; • substantially repetitious of questions already made by another stockholder; • in excess of the two-question limit; • in furtherance of the stockholder’s personal or business interests; or • out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the chair of the Annual Meeting or Secretary in their reasonable judgment. Additional information regarding the Q&A session will be available in the “Rules of Conduct” posted at www.virtualshareholdermeeting.com/OPEN2024 for stockholders that have accessed the Annual Meeting as a stockholder (rather than a “Guest”) by following the procedures outlined above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b179", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b180", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b181", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b183", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b185"], "char_count": 1193, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "76460808e79dab71e328de42ab50b462237198bad77bfcac4ca49851bc682c96", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 179, "char_end": 365, "char_start": 0, "fragment_sha256": "8815ccc68d56380b9fa3938ee025744c3f089dc07e3b1c511a2845afb9fa0d39", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 180, "char_end": 57, "char_start": 0, "fragment_sha256": "556bd21f714c550deb10945f2fabc18a1139d3e5e964c189a9f9d5eaa3dd73d2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 181, "char_end": 11, "char_start": 0, "fragment_sha256": "8b0b414a506f9a3b814e964ac7943e7857f239dda0900d305c8b6b54608cc32f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 183, "char_end": 6, "char_start": 0, "fragment_sha256": "8317e1386b532fec80961f5b1b06422ddc3ccbf9e0dbd6fd59e8ee4bd1bebaa5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 185, "char_end": 746, "char_start": 0, "fragment_sha256": "3be93dbd010693bb237ba10011b72ad5b78910dae030b955faf8036a4a4df3d7", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What are Broker Non-Votes?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p48", "passage_kind": "narrative", "passage_sequence": 48, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s54", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. You should direct your broker how to vote the shares held in your account. Under applicable stock exchange rules, if you do not instruct your broker on how to vote your shares, your broker\n\n10 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 17\n\nAnchor\n\nwill be able to vote your shares with respect to certain “routine” matters but will not be allowed to vote your shares with respect to certain “non-routine” matters. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. Each other proposal to be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in “street name” for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b187"], "char_count": 540, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fcbe3f03156169879ac24710e5326deead9863b03f91b2459e1a91358ba2c3a6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 187, "char_end": 540, "char_start": 0, "fragment_sha256": "768cc3adecd4d8856b35cfc6a7ddafad97eba38fffae55521ddfc106b696a5c6", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a stockholder of record does not vote, or if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p49", "passage_kind": "narrative", "passage_sequence": 49, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s55", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If you are a stockholder of record and you do not specify your vote on each proposal individually when voting via the Internet, over the telephone or if you sign and return a proxy card without giving specific voting instructions, then your shares will be voted in line with the Board’s recommendations as described under “Recommendations of the Board” above. If any other matter is properly presented at the Annual Meeting, your proxyholder (one of the individuals named on your proxy card) will vote your shares using their best judgment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b189", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b190"], "char_count": 1339, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "31242efc20d8b6012dd50ad32d4df608c78f4aae95d761563b28b3a58e3d4482", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 189, "char_end": 1035, "char_start": 0, "fragment_sha256": "79b5c0a52bb3a1994067a55255010a771b7d25b01c7c3573ec1f489a77d8cd81", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 190, "char_end": 302, "char_start": 0, "fragment_sha256": "21ba33ceb10d3377b63e0a8d854edd7d80b513e1b64dbaa3a5a20a6030dea268", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p50", "passage_kind": "narrative", "passage_sequence": 50, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s56", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If you are a beneficial owner of shares registered in the name of your broker, bank or other agent, and you do not instruct your broker, bank or other agent how to vote your shares, your broker, bank or other agent may still be able to vote your shares in its discretion. In this regard, under the rules of the New York Stock Exchange (“NYSE”), brokers, banks and other securities intermediaries that are subject to NYSE rules may use their discretion to vote your “uninstructed” shares with respect to matters considered to be “routine” under NYSE rules, but not with respect to “non-routine” matters. In this regard, Proposals 1 & 3 are considered to be “non-routine” under NYSE rules meaning that your broker may not vote your shares on those proposals in the absence of your voting instructions. However, Proposal 2 is considered to be a “routine” matter under NYSE rules, meaning that if you do not return voting instructions to your broker by its deadline, your shares may be voted by your broker in its discretion on Proposal 2.\n\nIf you are a beneficial owner of shares held in street name, in order to ensure your shares are voted in the way you would prefer, you must provide voting instructions to your broker, bank or other agent by the deadline provided in the proxy materials you receive from your broker, bank or other agent."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b192"], "char_count": 246, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4a1550a30848653d2b8223daf6f83f4117a596308202a72b18e12ab5ecf5e7fb", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 192, "char_end": 246, "char_start": 0, "fragment_sha256": "96cea23295dd529376c0d7364b64f88cb900782c9f5c86349f50e09196360c8e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p51", "passage_kind": "narrative", "passage_sequence": 51, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s57", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Voting over the Internet or by telephone or execution of a proxy will not in any way affect a stockholder’s right to attend the Annual Meeting and vote electronically. A proxy may be revoked before it is used to cast a vote at the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b194", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b195", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b196", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b198"], "char_count": 884, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fee0c893d223754e81c97bae2b4e9c661ad7b0c7d6cd2d24d284aa17f5ab9c06", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 194, "char_end": 804, "char_start": 0, "fragment_sha256": "84554541b68eca161b7cca49d91f415f871b3421b47faec7f25e3ea18862ae0d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 195, "char_end": 57, "char_start": 0, "fragment_sha256": "9d552046b27d07cd275d356a92813cbf1f4a94db93624bcbc996aa7fb544eb67", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 196, "char_end": 11, "char_start": 0, "fragment_sha256": "322f31b424246e6944dffe8546e6cdfc631cc708c8df61e0982f8e7e77f91db9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 198, "char_end": 6, "char_start": 0, "fragment_sha256": "70f71303bc6fd2b7a6210cdfc692238e0ffecac5c3ba101594376cf712704ac7", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p52", "passage_kind": "narrative", "passage_sequence": 52, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s58", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in your name, you can revoke a proxy by doing one of the following: • delivering to our Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; • duly executing a later-dated proxy relating to the same shares and delivering it to our Secretary before the taking of the vote; or • attending the Annual Meeting and voting electronically. However, your attendance at the Annual Meeting will not automatically revoke your proxy unless you vote again at the Annual Meeting. Any written notice of revocation or subsequent proxy should be sent to us at the following address: Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288, Attention: Sydney Schaub, Secretary.\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 11\n\nEnd Page 18\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b201"], "char_count": 153, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9544f9c086a362aa415217b995745d85a9efe444e3327c6abcc08728188b21d6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record", "Beneficial Owner"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 201, "char_end": 153, "char_start": 0, "fragment_sha256": "bf35bf644613fff2e53057556a6f57ca0bdcb0f3f79213fce5ccfc07fbbc598a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Can I revoke my proxy or change my vote?", "Stockholders of Record", "Beneficial Owner"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p53", "passage_kind": "narrative", "passage_sequence": 53, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s59", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "If the shares you own are held in street name, you will need to follow the directions provided to you by your bank or brokerage firm to change your vote."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b203"], "char_count": 475, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "419dd8679f127025ff32aa7e23d201f45059dcc980f399d18bce7f0bf6c9e15b", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What is the quorum requirement and what if quorum is not met?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 203, "char_end": 475, "char_start": 0, "fragment_sha256": "b861c9391648e9b73f5644a5624953e804b9a9253a1273655e50019d054a8dea", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "What is the quorum requirement and what if quorum is not met?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p54", "passage_kind": "narrative", "passage_sequence": 54, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s60", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The presence electronically or represented by proxy of a majority in voting power of the shares of common stock of the Company entitled to vote at the Annual Meeting is necessary to establish a quorum. Abstentions and broker non-votes are included in the shares present or represented at the Annual Meeting for purposes of determining whether a quorum is present. If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b205"], "char_count": 173, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e101f1229b7dd3cdc322c978e638c5453341be66694a2fe06ee64744c7758fdb", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 205, "char_end": 173, "char_start": 0, "fragment_sha256": "ab4a943ddd94ce43152d1dba4bb1c66a94f10de1505d9f85ec0235fd14f7e85c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p55", "passage_kind": "narrative", "passage_sequence": 55, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s61", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of votes withheld, abstentions and broker non-votes."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b206"], "char_count": 1061, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "46546cd343e015db7c1c5be946eae71015c96765fec8b25a430e40a3ebdff81a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 206, "char_end": 978, "char_start": 0, "fragment_sha256": "05f41da7ee86f0b6dfb6943d8530796f2d83a86c1cbfa5299e6c6833d492c080", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "table_index": 9, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p56", "passage_kind": "table", "passage_sequence": 56, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s61", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b206", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Proposal | ​ | ​ | Votes Required | ​ | ​ | Effect of Votes Withheld/Abstentions and Broker Non-Votes |\n| Proposal 1: Election of Directors | ​ | ​ | The plurality of the votes cast. This means that the three nominees receiving the highest number of “FOR” votes will be elected as Class I Directors. | ​ | ​ | Votes withheld and broker non-votes will have no effect. |\n| Proposal 2: Ratification of Appointment by the Audit Committee of the Independent Registered Public Accounting Firm | ​ | ​ | “FOR” votes from the holders of a majority in voting power of the votes cast on the matter. | ​ | ​ | Abstentions will have no effect. We do not expect any broker non-votes on this proposal.(1) |\n| Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (“Say-on-Pay Vote”) | ​ | ​ | “FOR” votes from the holders of a majority in voting power of the votes cast on the matter. | ​ | ​ | Abstentions and broker non-votes will have no effect. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b207"], "char_count": 335, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5e15bd0cdc63339ab00e521a2b0f38002c98aeee286b65d103d4a7133ba37753", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 207, "char_end": 335, "char_start": 0, "fragment_sha256": "c1f29055a0a0c85c2de034c4f028843a77dd9a789b6547b436fbb4df25d3a63c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "How many votes are needed to approve each proposal?"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p57", "passage_kind": "narrative", "passage_sequence": 57, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s61", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "(1) Proposal 2 is considered to be a “routine” matter under NYSE rules. Accordingly, if you hold your shares in street name and do not provide voting instructions to your broker, bank or other agent that holds your shares, your broker, bank or other agent has discretionary authority under NYSE rules to vote your shares on Proposal 2."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b209"], "char_count": 162, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bc8991fc64dc64bba4fa5fbb257606f08e7fae48db609dafcf2ebd0f5e2b5640", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Who will count the votes?"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 209, "char_end": 162, "char_start": 0, "fragment_sha256": "730a469134f1899c2677403bcb8001ccf6faf5369ccdd2082bd29333dd6e6de2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Who will count the votes?"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p58", "passage_kind": "narrative", "passage_sequence": 58, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s62", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The votes will be counted, tabulated and certified by a representative of Broadridge Financial Solutions, Inc., our inspector of election, for the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b211"], "char_count": 209, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "e4eeb7db5e9ce7b97cfa91b297573ddd4d340da8cb3d36d6215261516d34abc6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", 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Herman and Glenn Solomon as Class I directors.\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 13\n\nEnd Page 20\n\nAnchor\n\nDirector Biographies"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b236"], "char_count": 3983, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "da61d11784e4e857c7393a4c64b18eb136a2dea3e9ab9126d68db729b09e8292", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 236, "char_end": 3983, "char_start": 0, "fragment_sha256": "a4fa11cff6ddd9c0d5cbe79814e53cf261853120ce805118ec8e5b538f2e4943", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p67", "passage_kind": "narrative", "passage_sequence": 67, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "DANA HAMILTON Director Since: 2023 Age: 55 Committee Memberships: • Audit Other Public Company Boards: • None ​ ​ Dana Hamilton has served as a member of our Board since November 2023. From December 2022 to March 2023, Ms. Hamilton was a Senior Advisor to Pretium Partners LLC, an alternative investment manager specializing in U.S. real estate and credit assets. From April 2017 until December 2022, Ms. Hamilton was a Senior Managing Director and Head of Real Estate for Pretium, where she oversaw significant growth in Pretium’s single-family rental investment business. Ms. Hamilton is also the co-founder of Ameriton LLC, a real estate investment company, and has served as its President since October 2014. From October 2013 to October 2014, she served as President and Chief Executive Officer, and trustee, of Borderplex Community Trust. Prior thereto, Ms. Hamilton spent 20 years at Archstone, one of the largest apartment companies in the U.S. and Europe, until its sale to AvalonBay and Equity Residential in 2013, where she held numerous roles during her tenure, including President – Europe and Executive Vice President – National Operations. Ms. Hamilton previously served as a director of Life Storage, Inc. until the company merged with Extra Space Storage Inc. in July 2023, and FelCor Lodging Trust Incorporated from April 2016 until September 2017, when the company merged with RLJ Lodging Trust. Ms. Hamilton earned her B.A. in Public Policy from Stanford University and her M.B.A. in Real Estate and Finance from the Haas School of Business at the University of California, Berkeley. Skills and Qualifications: We believe that Ms. Hamilton is qualified to serve as a member of our Board because of her extensive experience in investment and operations across multiple real estate verticals, in particular the multifamily and single-family rental industries. Ms. Hamilton brings to the Board significant financial, transactional and asset management expertise, as well as extensive leadership and general management expertise. ​ CIPORA HERMAN Director Since: 2020 Age: 50 Committee Memberships: • Audit (CHAIR) Other Public Company Boards: • ZipRecruiter, Inc. (Lead Independent Director; Audit (Chair) and Compensation Committees) ​ ​ Cipora Herman has served as a member of our Board since December 2020 and previously served as a member of the board of directors of SCH from May 2020 until the closing of our Business Combination with SCH in December 2020. Ms. Herman has served on the board of directors of ZipRecruiter, Inc., a publicly traded online employment marketplace company, since October 2018, where she also serves as the lead independent director, the chair of the audit committee and a member of the compensation committee. Previously, Ms. Herman served as the Chief Financial Officer for LA28, The Los Angeles Organizing Committee for the Olympic and Paralympic Games 2028, from January 2021 to April 2022. Ms. Herman also served on the board of directors of MINDBODY, Inc., a software-as-a-service company, from October 2016 to February 2019. From 2012 to 2016, Ms. Herman served as the Chief Financial Officer of the San Francisco 49ers, a professional American football team. Prior to that, Ms. Herman served in various leadership roles in large online media and technology companies, including as Vice President & Treasurer of Facebook, Inc., from 2007 to 2012, and in various roles at Yahoo! Inc. from 2003 to 2007, including VP Finance and Treasurer. She also served on private company boards of directors, including Memery, Inc. (dba Overlay) from 2015 to January 2021. Ms. Herman received her A.B. degree in International Relations, M.A. degree in International Development Policy and M.B.A degree, each from Stanford University. Skills and Qualifications: We believe that Ms. Herman is qualified to serve as a member of our Board because of her financial expertise and experience as a director of publicly and privately held companies. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b237", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b238", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b240", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b242"], "char_count": 1326, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7171627ca3e755f6dc27074763df78c26d75e40f04dd6e7787283273a40cfd1b", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 237, "char_end": 57, "char_start": 0, "fragment_sha256": "0b1eafad94e3d15b4513b4902fb2a14df8b4e2630ae7de936b5299915e64076e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 238, "char_end": 11, "char_start": 0, "fragment_sha256": "ab833ef0557eed881ffaf158c8a9637ffafee613bb9ad2a61e1b5920adb70495", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 240, "char_end": 6, "char_start": 0, "fragment_sha256": "d27ffc946fe9e9b7bb72c3ef54835ebce7319eb3b12b7bc0c107c469a32d65a0", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 242, "char_end": 1246, "char_start": 0, "fragment_sha256": "48d297fca0b4172a5db1d395a46a6db262a3723d6745d3c0c5d37826a37aa724", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class I director nominees to be elected at this year’s Annual Meeting (subsequent terms ending in 2027)"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p68", "passage_kind": "narrative", "passage_sequence": 68, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s69", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "14 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 21\n\nAnchor\n\nGLENN SOLOMON Director Since: 2020 Age: 55 Committee Memberships: • Compensation (CHAIR) Other Public Company Boards: • Hashicorp, Inc. (Compensation (Chair) and Nominating and Corporate Governance Committees) ​ ​ Glenn Solomon has served as a member of our Board since December 2020 and served as a member of the board of directors of Opendoor Labs Inc. from February 2015 to December 2020. Mr. Solomon has been a Managing Partner of Notable Capital (formerly known as GGV Capital), a venture capital firm, since 2006, and a director of Hashicorp, Inc., a publicly traded software company, since September 2014, where he also serves as chair of the compensation committee and as a member of the nominating and corporate governance committee. He also serves as a director of a number of privately held companies and previously served as a director of Domo, Inc., a cloud software company, from August 2017 to March 2019. Mr. Solomon received his B.A. degree in Public Policy and M.B.A. from Stanford University. Skills and Qualifications: We believe that Mr. Solomon is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b244"], "char_count": 1569, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6df1b0563da681ec96d0a83b60dc6d6450e3a55f2326e85e9564abff5ae99b0d", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 244, "char_end": 1569, "char_start": 0, "fragment_sha256": "d26f80bb13c58168856636c167c444f71e8ecde74e81b40cf81092b110a6dc36", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p69", "passage_kind": "narrative", "passage_sequence": 69, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s70", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "ADAM BAIN Director Since: 2020 Age: 50 Committee Memberships: • Compensation • Nominating Other Public Company Boards: • None ​ ​ Adam Bain has served as a member of our Board since December 2020, prior to which he served as a member of SCH’s board of directors. Mr. Bain is a co-founder and has served as co-Managing Partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since January 2018. Mr. Bain served as a director of Social Capital Hedosophia Holdings Corp., which was a publicly traded special purpose acquisition company, from September 2017 until the consummation of its business combination with Virgin Galactic Holdings, Inc., a publicly traded spaceflight company, in October 2019, where he served as a member of the board of directors from October 2019 to June 2023 and as chair of the nominating and corporate governance committee and a member of the compensation committee until May 2023. Since November 2016, Mr. Bain has also been an independent advisor and investor in select privately held growth-stage companies. Previously, from 2015 to November 2016, Mr. Bain served as the Chief Operating Officer of Twitter, Inc., a publicly traded social media company, and also served as President of Global Revenue & Partnerships from 2010 to 2015. Mr. Bain received his B.A. degree in English Journalism from Miami University in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve as a member of our Board because of his significant operating and technology experience and financial experience. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b245", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b246", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b248", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b250"], "char_count": 3470, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "5e1b658f53abd82d144ab2aa863be44517a1a8e771410653d9b5e4d948b23901", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 245, "char_end": 57, "char_start": 0, "fragment_sha256": "b017119be3bdbddf4bf7ad013738086b630a7baf4adc668f2bfe1e3c62758270", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 246, "char_end": 11, "char_start": 0, "fragment_sha256": "b72aa3f5334de32fccaf0e374ba2e81d0d2c7b5d2c70194f208e1c206553b255", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 248, "char_end": 6, "char_start": 0, "fragment_sha256": "1c4cc283d2fd8a3be6520182bda83d3da25a58d49361885660787ae601663b9b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 250, "char_end": 3390, "char_start": 0, "fragment_sha256": "1ce4e70d267916d7ddb241f6536d4775a5036243711b62a4ecf221ce03272644", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class II directors (terms ending in 2025)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p70", "passage_kind": "narrative", "passage_sequence": 70, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s70", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 15\n\nEnd Page 22\n\nAnchor\n\nPUEO KEFFER Director Since: 2020 Age: 42 Committee Memberships: • Audit • Compensation Other Public Company Boards: • DigitalOcean Holdings, Inc. (Compensation and Nominating and Corporate Governance (Chair) Committees) ​ ​ Pueo Keffer has served as a member of our Board since December 2020 and served as a member on the board of directors of Opendoor Labs Inc. from October 2015 to December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, Inc. since 2015. From 2009 to 2015, Mr. Keffer served in various roles at Redpoint Ventures, most recently as a Partner. Since 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a publicly traded cloud computing platform company, where he serves as a chair of the nominating and corporate governance committee and member of the compensation committee. He also serves on the board of directors of two privately held companies. Previously, Mr. Keffer was an associate at TA Associates, a growth private equity firm, and a financial analyst at Goldman Sachs & Co. Mr. Keffer received his B.A. degree in Economics from Stanford University. Skills and Qualifications: We believe that Mr. Keffer is qualified to serve as a member of our Board because of his extensive experience advising technology companies as a venture capital investor and director of various companies and his financial experience. ​ JOHN RICE Lead Independent Director Director Since: 2021 Age: 57 Committee Memberships: • Nominating Other Public Company Boards: • Walker & Dunlop, Inc. (Nominating and Corporate Governance (Chair) and Compensation Committees) ​ ​ John Rice has served as a member of our board of directors since March 2021. Mr. Rice is the founder and Chief Executive Officer of Management Leadership for Tomorrow (“MLT”), a national non-profit organization founded in 2001 that closes racial wealth gaps by elevating the career and economic trajectory of people of color and by advancing racially equitable employer practices. Prior to MLT, Mr. Rice was an executive with the National Basketball Association (“NBA”) from 1996 to 2000, where he served in various roles, including as Managing Director of NBA Japan and as Director of Marketing for Latin America. Prior to that, Mr. Rice spent four years with the Walt Disney Company in new business development and marketing and two years with AT&T. Since 2010, Mr. Rice has served as a member of the board of directors of Walker & Dunlop, Inc. a publicly traded real estate finance company, where he also serves as chair of the nominating and corporate governance committee and as a member of the compensation committee. He also serves on the board of directors of Morgan Stanley Real Estate’s Prime Property Fund, a privately held diversified real estate fund. Mr. Rice was also a member of the Yale University Board of Trustees from 2011 to 2023. Mr. Rice received his B.A. degree from Yale University and M.B.A. degree from Harvard Business School. Skills and Qualifications: We believe that Mr. Rice is qualified to serve as a member of our Board because of his executive leadership skills, strategic planning experience, public company experience and extensive expertise in driving talent development and fostering diversity and inclusion efforts across organizations. ​"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b251", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b252", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b254"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "abbbaba137183e3df627924fd94323181d9056005d2dc66a69297c54f81c9770", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": 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"source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "16 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 23\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b257"], "char_count": 3943, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "8d583daa99f7e775e0890a00129741d1ab98b02f5dc5a98fae4398a0d1d421bf", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III directors (terms ending in 2026)"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 257, "char_end": 3943, "char_start": 0, "fragment_sha256": "bfdbc85f11a5a00888123baee65f1996061344b7dff36354182da86f380de467", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Class III directors (terms ending in 2026)"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p72", "passage_kind": "narrative", "passage_sequence": 72, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s71", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "CARRIE WHEELER Chief Executive Officer Director Since: 2022 Age: 52 Committee Memberships: • None Other Public Company Boards: • APi Group Corporation (Audit Committee) • TKO Group Holdings (Audit Committee (Chair)) ​ ​ Carrie Wheeler has served as our Chief Executive Officer and as a member of our Board since December 2022. She previously served as our Chief Financial Officer from September 2020 to December 2022. Ms. Wheeler also previously served as a member of our Board from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler has served on the board of directors and on the audit committee of APi Group Corporation, a global provider of safety and specialty services, since November 2019 and on the board of directors of TKO Group Holdings, where she is also chairperson of the audit committee, since September 2023. She previously served on the board and audit committee of Dollar Tree, Inc. from March 2019 to March 2022. Ms. Wheeler has also served on a number of other corporate boards of private and public companies, including Neiman Marcus Group (2005 to 2013) and Petco Animal Supplies (2006 to 2015). Ms. Wheeler received her Bachelor of Commerce degree from Queen’s University in Canada. Skills and Qualifications: We believe that Ms. Wheeler is qualified to serve as a member of our Board because of her extensive experience in a leadership role at a global private equity firm, as well as her experience with our Company as our Chief Executive Officer and former Chief Financial Officer, and her wealth of experience across different industries. ​ JASON KILAR Director Since: 2020 Age: 52 Committee Memberships: • Nominating (CHAIR) Other Public Company Boards: • Roblox Corporation (Audit and Compensation Committees) ​ ​ Jason Kilar has served as a member of our Board since December 2020 and served as a member of the board of directors of Opendoor Labs Inc. from March 2019 to December 2020. Previously, Mr. Kilar served as the Chief Executive Officer of Warner Media, LLC, a media and entertainment subsidiary of its public company parent, Warner Bros. Discovery, Inc. from May 2020 to April 2022. Prior to that, Mr. Kilar co-founded and served as the Chief Executive Officer of Vessel Group, Inc., a video platform company, from 2013 to 2017. Prior to Vessel, Mr. Kilar co-founded and served as the Chief Executive Officer of Hulu, LLC, a streaming service company, from 2007 to 2013. Mr. Kilar also served in a variety of senior leadership roles with Amazon.com, Inc., an e-commerce technology company, from 2002 to 2006, including as Senior Vice President, Worldwide Application Software, and Vice President and General Manager of Amazon’s North American media businesses. Mr. Kilar has served on the board of directors of Roblox Corporation, a publicly traded video game development company, since September 2023, where he is a member of the audit and compensation committees. Mr. Kilar also served on the board of directors and audit committee of DreamWorks Animation SKG, Inc., a publicly traded animation studio, from May 2013 until its acquisition by NBCUniversal in August 2016. He has also served on various other private company boards of directors, including Univision Communications Inc. from September 2016 to April 2020 and Brighter Inc. from 2013 until its acquisition by Cigna Corporation in 2017. Mr. Kilar received his B.A. degree in Journalism and Business Administration from University of North Carolina at Chapel Hill and M.B.A. degree from Harvard Business School. 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As set forth in our Certificate of Incorporation, the Board is currently divided into three classes with staggered, three-year terms. At each annual meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following election. Our Certificate of Incorporation provides that the authorized number of directors may be changed only by resolution of our Board in accordance with our Amended & Restated Bylaws. Any additional directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. The division of our Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control of our Company. 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In addition, the Board has tasked designated committees of the Board to assist with the oversight of certain categories of risk management, and the committees report to the Board regularly on these matters. • The Audit Committee (i) reviews and discusses guidelines, programs, and policies (a) governing the process by which senior management assesses and manages the Company’s exposure to risk, as well as the Company’s major financial risk exposures, and (b) relating to cybersecurity, data privacy, and other risks relevant to our information systems and security, and, in each case, the steps management has taken to monitor, mitigate and control such exposures, and (ii) reviews with management and our auditors any contingent liabilities and risks that may be material to the Company, including risks relating to relevant legislative and regulatory developments; • The Compensation Committee, in approving and evaluating the Company’s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company’s compensation arrangements; and • The Nominating Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as well as our overall governance structure. 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We provide all new directors with orientation sessions regarding the Board and the Company’s operations. The orientation consists of presentations by members of senior management on the Company’s strategic plans, financial statements and key issues, policies and practices. We also periodically provide materials, updates and presentations, including in regular Board and committee meetings, to all directors on issues and subjects that assist them in fulfilling their responsibilities, such as key industry developments and evolution in the competitive landscape. 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The Board believes that candidates for director should have certain minimum qualifications, including the highest personal integrity and ethics and the ability to read and understand basic financial statements. In considering candidates for\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 21\n\nEnd Page 28\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b303"], "char_count": 3948, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1fa90807f8c12b389ad70146ebfce5280db77c51c7715e07d3b5d9f024d61d4b", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 303, "char_end": 3948, "char_start": 0, "fragment_sha256": "bc8550e89959185dba88d44426e3bab9bc35a44d6b92e3250c8ea38c1af323c8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p88", "passage_kind": "narrative", "passage_sequence": 88, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Board membership, the Board considers additional criteria including relevant expertise, sufficient time to devote to our affairs; excellence in their field, the ability to exercise sound judgment; a commitment to represent the long-term interests of our stockholders; diversity (including diversity of gender, ethnic background and country of origin), age, skills, and other factors that it deems appropriate to maintain a balance of knowledge, experience, and capability on the Board in the context of the needs of the Board and the Company. Each year, the Nominating Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating Committee will evaluate whether incumbent directors possess the requisite skills and perspective, both individually and collectively. In addition, the Board will review those directors’ overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors’ independence. The Nominating Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. Once potential candidates are identified, the Nominating Committee reviews the backgrounds of those candidates, evaluates candidates’ independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating Committee for candidates for election as a director. The Board believes effective management succession planning, particularly for the CEO, is important to our continued success. At least annually, the Compensation Committee discusses our management succession plans for our key executive officers. Our succession plan includes appropriate contingencies in case the CEO or another key executive officer retires, resigns, dies, or is incapacitated, across multiple time periods. In addition, alternative succession plans are evaluated under multiple strategic and operating scenarios. The Board, with the assistance of the Compensation Committee, will evaluate potential successors to the CEO and other key executive officers. The CEO contributes to these evaluations by making available her recommendations and evaluations of potential successors, along with a review of any recommended development plans. AnchorStockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288, Attention: Sydney Schaub, Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b303"], "char_count": 941, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3b6165210858de74bfbb87b3362e7e2d6fed86fd7ae13871de0e8de1563831f7", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 303, "char_end": 4889, "char_start": 3948, "fragment_sha256": "bc8550e89959185dba88d44426e3bab9bc35a44d6b92e3250c8ea38c1af323c8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p89", "passage_kind": "narrative", "passage_sequence": 89, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "AnchorStockholder Engagement Opendoor engages with stockholders and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. 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equity securities, or that may cause a director, officer or employee to no longer have the same objectives as the Company’s other stockholders except as otherwise pre-approved by the Board in each instance. 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public accounting firm the interim and annual financial statements that we file with the SEC; • Discussing guidelines, programs, and policies (i) governing the process by which senior management assesses and manages our exposure to risk and our major financial risk exposures and (ii) relating to cybersecurity, data privacy, and other risks relevant to our information systems and security, and, in each case, the steps we have taken to monitor, mitigate and control such risks; • Reviewing with management and our auditors any contingent liabilities and risks that may be material to the Company, including risks relating to relevant legislative and regulatory developments; • Reviewing and approving or ratifying related person transactions; • Reviewing the adequacy and effectiveness of the Company’s accounting and internal control policies and procedures on a regular basis, including the responsibilities, charter, budget, compensation and staffing of the Company’s internal audit function; and • Establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal controls or auditing matters and the confidential anonymous submission of concerns regarding questionable accounting, internal controls or auditing matters. Financial Expertise and Independence All members of the Audit Committee meet the independence standards of Nasdaq and the SEC, as well as the financial literacy requirements of Nasdaq. The Board has determined that each of Ms. Herman, Ms. Hamilton, and Mr. Keffer qualifies as an “audit committee financial expert” as defined by SEC rules. Overboarding Policy Under the Audit Committee charter, members of the Audit Committee may not serve on more than three public company audit committees (including the Opendoor Audit Committee) without the prior consent of the Board. Report The Report of the Audit Committee is set forth beginning on page 63 of this proxy statement. 26 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b327", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b329", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b331"], "char_count": 2801, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "17ba55ef975c313058dbde09ecb28beae6465b5fee9d8c23fcab9e89d08d1981", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 327, "char_end": 11, "char_start": 0, "fragment_sha256": "56e3c9418be5f57e19f066536267c6d1c2cc62eac60f2c1da05ab8ad091b546b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 329, "char_end": 6, "char_start": 0, "fragment_sha256": "6ac269a26ef66793890a9fb7275481806f9eb55cb476a2a858dbd8d83569d6ac", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 331, "char_end": 2780, "char_start": 0, "fragment_sha256": "790ee242b05d17fe46f280ec21154c9305af0f16752fd8fb36a6b66fdfa02b73", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorBoard Meetings and Executive Sessions", "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p96", "passage_kind": "narrative", "passage_sequence": 96, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s80", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "End Page 33\n\nAnchor\n\nNominating Committee Current Committee Members: Jason Kilar (CHAIR) Adam Bain John Rice ​ ​ Primary Responsibilities Include: • Assisting in identifying, recruiting and, if appropriate, interviewing candidates to fill positions on our Board and, if it deems it appropriate, establishing procedures for stockholders to follow in submitting recommendations for candidates for the Board; • Reviewing the background and qualifications of individuals being considered as director candidates; • Recommending to our Board the nominees for election to our Board at annual meetings of our stockholders; • Reviewing and making recommendations to the Board regarding committee and Board composition and size; • Overseeing an annual evaluation of our Board and its committees; and • Developing and recommending to our Board, and periodically reviewing, the Corporate Governance Guidelines. Independence The Nominating Committee is composed entirely of directors who are independent under the Nasdaq rules. Compensation Committee Current Committee Members: Glenn Solomon (CHAIR) Adam Bain Pueo Keffer ​ ​ Primary Responsibilities Include: • Evaluating the performance of our CEO and other executive officers in light of any goals and objectives of the Company’s executive compensation plans, and, based on such evaluation, determining and approving, or making recommendations to the Board regarding the compensation level of the Company’s executive officers; • Evaluating the appropriate level of compensation for service on our Board and Board committees by non-employee directors and making recommendations to our Board regarding such compensation; • Reviewing the executive compensation plans in light of the Company’s goals and objectives with respect to such plans, and, if deemed appropriate, adopting, or recommending the Board adopt, new, or amend existing, executive compensation plans; and • Appointing and overseeing any compensation consultants. Independence The Compensation Committee is composed entirely of directors who are independent under the Nasdaq rules. Delegation Authority The Compensation Committee may form and delegate authority to subcommittees for any purpose that the Compensation Committee deems appropriate, including (a) a subcommittee consisting of a single member, and (b) a subcommittee consisting of at least two members, each of whom qualifies as a non-employee director under Section 16 of the Exchange Act. Role of Executive Officers and Compensation Consultant See page 29 of this proxy statement for a discussion of the role of our executive officers and our compensation consultant in determining executive compensation. Compensation Committee Report The Report of the Compensation Committee is set forth beginning on page 43 of this proxy statement."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b332", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b333", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b335"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "81066d9ebfae5cb040a9d951868e960ccc9569182cececb83e78965d4412058f", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at 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"AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorOUR EXECUTIVE OFFICERS"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p98", "passage_kind": "narrative", "passage_sequence": 98, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s81", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The following table sets forth the names, ages and positions of our current executive officers:"} +{"artifact_role": "primary", "block_ids": 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"5255e5d5b57a67931e3ab0bd6736e68e641297773ef1eb4ca0f22299d72b2b35", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorBoard Meetings, Continued Education and Succession Planning", "AnchorOUR EXECUTIVE OFFICERS"], "table_index": 14, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p99", "passage_kind": "table", "passage_sequence": 99, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s81", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b339", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Name | ​ | ​ | Age | ​ | ​ | Position |\n| Carrie Wheeler | ​ | ​ | 52 | ​ | ​ | Chief Executive Officer and Director |\n| ​Christina Schwartz | ​ | ​ | 45 | ​ | ​ | Interim Chief Financial Officer and Chief Accounting Officer |\n| Megan Meyer Toolson | ​ | ​ | ​37 | ​ | ​ | President, Sell Direct and Services |\n| Sydney Schaub | ​ | ​ | 44 | ​ | ​ | Chief Legal Officer |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b340"], "char_count": 1749, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ac1a2f9217525f444f9f8d678efc7533fbf6d0f3565ef3c4612492f284b5e5bd", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": 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"passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p100", "passage_kind": "narrative", "passage_sequence": 100, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s81", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "* Ms. Wheeler is a member of our Board. See “Proposal 1 — Election of Directors” for more information about Ms. Wheeler. Christina Schwartz has served as our interim Chief Financial Officer since December 2022 and our Chief Accounting Officer since March 2021. Prior to that, she served as the Company’s Vice President, Corporate Controller from August 2016 to March 2021. Ms. Schwartz received her M.S. degree in Accounting from the University of Virginia and B.S. degree in Business Administration from the University of California, Berkeley. Megan Meyer Toolson has served as our President, Sell Direct and Services since December 2022. Prior to that, since 2015, she has served in roles of increasing responsibility at Opendoor, including as our Chief Customer Officer from March 2021 to December 2022 and our Vice President, Operations GM from December 2020 to March 2021. Ms. Meyer Toolson received her M.B.A. degree from Stanford University, M.S. degree in Professional Accounting from the University of Texas at Austin and B.A. degree in Business Administration from the University of Texas at Austin. Sydney Schaub has served as our Chief Legal Officer since September 2022. Prior to joining the Company, Ms. Schaub served as Chief Legal Officer, General Counsel and Corporate Secretary of Gemini Trust Company, LLC, a regulated digital asset exchange and custodian, from October 2018 to September 2022. Prior to that, she served as General Counsel and Corporate Secretary at Rent the Runway, Inc. from May 2017 to October 2018 and Associate General Counsel at Square, Inc. from January 2016 to April 2017. 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"norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s83", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "This Compensation Discussion and Analysis provides information regarding the 2023 compensation program for our 2023 NEOs, who are listed below: • Carrie Wheeler, our CEO; • Christina Schwartz, our interim Chief Financial Officer (our “CFO”); • Megan Meyer Toolson, our President, Sell Direct and Services; • Sydney Schaub, our Chief Legal Officer; and • Daniel Morillo, our former Chief Investment Officer."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b350"], "char_count": 1630, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "77f9cc0baadbff275876985dc4d4e39df1fd6f2862e5d1e8bdaeb6e9513aa8aa", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 350, "char_end": 1630, "char_start": 0, "fragment_sha256": "d4960560774192958f869bfee96452ca025d5cac22185ed808dd8e686f8d4258", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p103", "passage_kind": "narrative", "passage_sequence": 103, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s84", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "We are the largest digital platform for residential real estate transactions. In 2014, we founded Opendoor to reinvent one of life’s most important transactions and make it possible to buy, sell, and move at the tap of a button. By leveraging software, data science, product design and operations, we are building a managed technology platform for residential real estate that offers buyers and sellers a digital, on-demand experience that we believe will be the future of how people buy or sell a home. • Since launch, customers have demonstrated their desire for our digital, on-demand real estate solution with over 246,000 homes bought and sold by Opendoor across the United States. • In 2023, we sold over 18,700 homes and generated $6.9 billion in revenue, the latter of which represents a compound annual growth rate of over 45% since 2017. • Importantly, we have achieved this growth while continuing to delight customers, maintaining an annual average Net Promoter Score of nearly 80 from our sellers since 2021. Our mission is straightforward: to power life’s progress, one move at a time. Residential real estate is a trillion-dollar industry underpinned by a process that is complicated, time-consuming, stressful, and offline. We believe all consumers deserve to buy, sell, and move between homes with simplicity and confidence, and we have dedicated almost a decade to delivering on this vision. We have built unique pricing and operations capabilities to become one of the largest buyers and sellers of homes in the United States. Since our founding, we have expanded our footprint to 50 markets across the country."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b352"], "char_count": 1581, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a9a166cd48c651a418990c26b9d31ed00585de65f77a49966c060c9c0c272151", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 352, "char_end": 1581, "char_start": 0, "fragment_sha256": "1327b97e9242227787bd65c24702e2ec985b046ad22fcb66d37ac1665e9383ec", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p104", "passage_kind": "narrative", "passage_sequence": 104, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Compensation Committee and full Board take the outcome of our annual Say-on-Pay vote seriously and are focused on gathering and responding to our stockholders’ feedback regarding the Company’s executive compensation programs. As part of its compensation-setting process, the Compensation Committee considers the results of the stockholder advisory vote on our executive compensation from the prior year. Approximately 75% of the votes cast at our 2023 Annual Meeting of Stockholders were voted in favor of our executive compensation, as compared to approximately 62% the prior year. Following our 2022 Annual Meeting of Stockholders, we launched a robust stockholder outreach campaign with key institutional investors. Our Compensation Committee noted the year-over-year increase in stockholder support resulting from these efforts, and we continued our engagement efforts following our 2023 Annual Meeting of Stockholders to seek actionable feedback that could be incorporated in the Compensation Committee’s discussions and decision-making going forward. Since fiscal 2022, we have reached out to stockholders collectively representing over 37% of non-affiliated outstanding shares, and had conversations with stockholders collectively representing over 35% of non-affiliated outstanding shares (each as of January 5, 2024), about issues of importance to them, including executive compensation, corporate governance matters, human capital, and our approach to environmental and social issues. In each meeting, company participation typically included our Chief Legal Officer,"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b353", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b354", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b356", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b358"], "char_count": 983, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ee080ea901d6f36b1517a113d761345b74dfe1f5799bcf3ecad57109f773301b", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 353, "char_end": 57, "char_start": 0, "fragment_sha256": "b07cfcba75c82cb7d0cb666a3c6a4a3eb66f76508c315381b055c01c8cd95b56", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 354, "char_end": 11, "char_start": 0, "fragment_sha256": "27efa991a421c2f75241698784c276ce42ed430748db1154a0b58bde28aa68b5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 356, "char_end": 6, "char_start": 0, "fragment_sha256": "ff02a50afc271d815283364038ea6e81bd1766a7d5e62b999e067188e78031c7", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 358, "char_end": 903, "char_start": 0, "fragment_sha256": "64b8a5566a12ffb23ceaf4333b3fc8f04b8870a90681061793ba55112db79c05", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p105", "passage_kind": "narrative", "passage_sequence": 105, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 29\n\nEnd Page 36\n\nAnchor\n\nour Chief People Officer and the chair of the Compensation Committee. In these meetings, we received valuable feedback regarding the strengths of our executive compensation program as well as areas for improvement as we mature as a publicly-traded company. The Compensation Committee is committed to understanding and being responsive to stockholder sentiment. The table below summarizes the specific feedback we received and the steps our Compensation Committee and the Board have taken to address this feedback as well as the other changes we have made to our executive compensation program in 2024 to further link executive compensation opportunities to Company performance. These actions were informed by stockholder feedback during the meetings described above, the results of the Company’s 2023 Say-on-Pay vote, and consultations with the Compensation Committee’s independent compensation advisor."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b359"], "char_count": 1193, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6fd25398fcef23aa22b3911618fe787e1e7770c620c622739ace9258ff40f03d", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 359, "char_end": 2794, "char_start": 0, "fragment_sha256": "33e208439f1b0db1a3d54b654f3ee9d9fa5869bb49fed7c18f3824d9e59030cc", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": 15, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p106", "passage_kind": "table", "passage_sequence": 106, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b359", "text": "| | | | |\n| --- | --- | --- | --- |\n| What Stockholders Said: | ​ | ​ | Action We Took: |\n| Executive Compensation: | ​ | ​ | |\n| | ​ | ​ | |\n| Compensation philosophy and use of discretion in executive compensation decisions is not clearly outlined, and executive compensation program lacks performance-based components with clearly defined m… | ​ | ​ | As noted below under “Compensation Philosophy and Objectives,” we have included additional detail regarding our compensation philosophy and specific compensation decisions during 2023. In addition, c… |\n| | ​ | ​ | |\n| The company’s peer group and rationale for selection is not described. | ​ | ​ | As noted below under “Peer Group and Competitive Positioning,” we have provided additional information regarding the creation and periodic review of our compensation peer group, including the metrics… |\n| | ​ | ​ | |\n| There is a lack of mitigating factors, such as a clawback policy or stock ownership guidelines. | ​ | ​ | As discussed below under “Stock Ownership Guidelines,” we maintain stock ownership guidelines for our directors and senior employees, including our Section 16 reporting officers. Under our stock owne… |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b360", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b361", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b363"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "4d923193789ad8c415c5401b41dbf855fcb42b9fbe225d1fb7dbd3dec805845f", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 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delivered to our executive officers. The January 2023 award to Ms. Wheeler in connection with her promotion to CEO, which represents Ms. Whee… |\n| | ​ | ​ | |\n| Corporate Governance: | ​ | ​ | |\n| | ​ | ​ | |\n| The Board lacks adequate gender diversity. | ​ | ​ | We appointed an additional female director to the Board during 2023, and our Board is now composed of over 37% female directors. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b366", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b367", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b368", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b370"], "char_count": 824, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "08be0596fdd7abe78614055074ec1c3e05a96eff1377e904a752b90c36828030", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 366, "char_end": 744, "char_start": 0, "fragment_sha256": "ec6784f6f7e1f80c0045860e46fdf136af747e4da1af24e3a9db3c4284cc97ba", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 367, "char_end": 57, "char_start": 0, "fragment_sha256": "cddc99aa7d7583ae33e05e6d8e3aa0c219a003c01d407e6483a17b2ac6f16621", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 368, "char_end": 11, "char_start": 0, "fragment_sha256": "631b2364ed1c8f23ad41954ec9f8ce756313002de1e9171510b723165dace17a", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 370, "char_end": 6, "char_start": 0, "fragment_sha256": "d0b9c51eaebded87fe4370098dc679a5453e1114cad084458a82df4c77644edd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Consideration of 2023 Say-on-Pay Vote Results and Stockholder Outreach"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p109", "passage_kind": "narrative", "passage_sequence": 109, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s85", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "We believe that our robust dialogue on these and other topics and the subsequent actions we have taken clearly demonstrate our commitment to strong corporate governance and market-based compensation structures. 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(2) Performance based pay includes short-term and long-term incentives that are directly tied to pre-approved performance metrics (as described below). Key changes include the following: • Adoption of Annual Performance Bonus Plan: In 2024, we introduced an annual performance-based cash bonus program under which all named executive officers are eligible for performance-based bonuses based on achievement of pre-established corporate performance goals approved by the Compensation Committee. The Compensation Committee selected adjusted net income (“ANI”) as the corporate performance metric for the 2024 cash performance bonuses, which is aligned with our goal of driving the Company to a positive cash flow position. ANI is a non-U.S. Generally Accepted Accounting Principles (“GAAP”) measure and is calculated as GAAP net income (loss) adjusted to exclude non-cash expenses of stock-based compensation, equity securities fair value adjustment, and intangibles amortization expense. ANI excludes expenses that are not directly related to our revenue-generating operations such as restructuring and legal contingency accruals, and as a result we believe ANI better reflects our cash flow position. • Introduction of Performance-Based Restricted Stock Units (“PRSUs”): In February 2024, we granted PRSUs to each of our named executive officers, except for our CEO, Carrie Wheeler, that are eligible to vest subject to achievement of objectives related to homes acquired and homes sold, weighted equally. In consideration of Ms. Wheeler’s promotion grant awarded in 2023, as well as her current equity holdings and total compensation package, the Compensation Committee elected not to grant any additional equity awards to Ms. Wheeler during the remainder of 2023 and 2024. 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The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. The following summarizes our executive compensation and related policies and practices:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b382"], "char_count": 499, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fabea7549e69d760f10b33bb795a859d5c63b4fb18da0e45d08cca88ed501065", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Executive Compensation Policies and Practices"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 382, "char_end": 4126, "char_start": 0, "fragment_sha256": "93a4c471b9ebc78b37ef7d152c2de8da28eef89a16f4b7ffff538a9b2e7326a2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Executive Compensation Policies and Practices"], "table_index": 17, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p113", "passage_kind": "table", "passage_sequence": 113, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s87", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b382", "text": "| | | | |\n| --- | --- | --- | --- |\n| What We Do: | ​ | ​ | What We Don’t Do: |\n| • Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. • Independent Compensation Adviser. Th… | ​ | ​ | • No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our named executive officers. Our named executive officers are eligible to … |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b383", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b384", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b386"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "b076e6154744610501fa40cf757b2e8cb178d4020632af7c9f77e93a43f4529e", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who 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"sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 33\n\nEnd Page 40\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b389"], "char_count": 1108, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "3ca92c057a264b74285f97f224a758d7fc739b732601c93009fd46977d8cfdaa", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at 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"2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s88", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Our compensation programs are designed to attract, retain and motivate our employees, including our executive officers, by ensuring that such programs are aligned to the market, scalable and flexible for our leaders to operate within, and simple and clear for our employees to understand. With respect to our executive compensation program, our key objectives are to: • allow us to attract and retain highly qualified executive officers; and • ensure our executive team interests are directly aligned to the creation of long-term stockholder value. To attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation, and we believe our executive compensation program is appropriately structured in this regard. We also believe that providing our executive officers with an opportunity to be owners in our business better aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided our executive officers, including our NEOs, with a compensation package consisting of the following elements:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b390"], "char_count": 1031, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "142d45adf8d02cb69c8385d3441a20266e6fbe412bd0e8ee3c1d499643908e33", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Compensation Philosophy and Objectives"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 390, "char_end": 921, "char_start": 0, "fragment_sha256": "70ed8cf09db66589df8ddd6c494599c5f611edfe0ddfa87318611465be2f78a5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Discussion and Analysis", "Who We Are", "Compensation Philosophy and Objectives"], "table_index": 18, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p116", "passage_kind": "table", "passage_sequence": 116, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s88", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b390", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Element | ​ | ​ | Type of Element | ​ | ​ | Compensation Element | ​ | ​ | Objective |\n| Base Salary | ​ | ​ | Fixed | ​ | ​ | Cash | ​ | ​ | Designed to compensate our executives for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each executive. |\n| One-Time Bonuses | ​ | ​ | Variable | ​ | ​ | Cash | ​ | ​ | Provided on an as needed basis and in connection with an evaluation of an employment offer or retention objectives. These may take the form of sign-on or retention incentives. |\n| Long-Term Incentive Compensation | ​ | ​ | Variable | ​ | ​ | Equity awards in the form of TRSU awards that may vest and be settled for shares of our common stock and be settled for shares of our common stock. | ​ | ​ | Designed to align the interests of our executives and our stockholders by motivating our executives to create sustainable long term stockholder value. |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b393"], "char_count": 1761, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c1e0f33df574684ee21b6ac6da6383789cf66ef9b2e0b44819d7af5d04e2e24f", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 393, "char_end": 1761, "char_start": 0, "fragment_sha256": "9d43062a40e310087e0e11dc9aec09d97eee2c9f20b9aa3f6a38a1c58e123f99", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p117", "passage_kind": "narrative", "passage_sequence": 117, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s90", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Compensation Committee discharges the responsibilities of our Board relating to the compensation of our executive officers, including our named executive officers, and the non-employee members of our Board. Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers. In carrying out its responsibilities, on an annual basis the Compensation Committee evaluates our compensation policies and practices with a focus on the degree to which these policies and practices reflect our executive compensation philosophy, develops strategies and makes decisions that it believes further our philosophy or align with developments in best compensation practices, and reviews the performance of our executive officers when making decisions with respect to their compensation or recommendations to our Board with respect to their compensation. The Compensation Committee has retained a compensation consultant (as described below) to provide support in its review and assessment of our executive compensation program; however, the Compensation Committee exercises its own judgment in making final decisions or recommendations with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee reviews our executive compensation program annually, and in fiscal 2024, the timing of this review occurred in the first fiscal quarter to take into account our annual operating cadence and to align compensation determinations with the Company’s annual performance and business goals. As part of this review process, the"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b394", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b395", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b397", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b399"], "char_count": 496, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0e7fa4695d7d2c731739329030d493a1aa2b2e2a4eccd4604338d9abb1ef8ef7", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", 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"parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p118", "passage_kind": "narrative", "passage_sequence": 118, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s90", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "34 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 41\n\nAnchor\n\nCompensation Committee applies the objectives described above within the context of our overall compensation philosophy while simultaneously considering the compensation levels needed to ensure that our executive compensation program remains competitive based, and ensure that equity is positioned to retain executives, based on input and market data provided by the Compensation Committee’s compensation consultant."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b401"], "char_count": 1248, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c5fc9382f4e2ce5a12c0fe443ca1afec644b4015be4129d887b0ecf386191eb5", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of Management"], "items": [], "locators": [{"artifact_id": 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "In discharging its responsibilities, the Compensation Committee works with members of our management, including our CEO. Our management assists the Compensation Committee by providing information on corporate and individual performance, market compensation data and management’s perspective on compensation matters. The Compensation Committee solicits and reviews our CEO’s proposals with respect to program structures, as well as her recommendations for adjustments to annual base salaries, long-term incentive compensation opportunities and other compensation-related matters for our executive officers, including our named executive officers (except with respect to her own compensation), based on her evaluation of their performance for the prior year. The Compensation Committee reviews and discusses proposals and recommendations with our CEO and considers them as one factor in determining and approving the compensation of our executive officers or making recommendations to our Board with respect to the compensation of our executive officers. Our CEO also attends meetings of our Board and the Compensation Committee at which executive compensation matters are addressed, except with respect to discussions involving her own compensation."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b403"], "char_count": 2309, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "008d3360fa47faef50b31be65743e7fb5cceb91b7a105c285378df4ccb071e01", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 403, "char_end": 2309, "char_start": 0, "fragment_sha256": "ef612673cc334b371c3f9033539b2431297af8e5297f952e77350cd2e96cfb46", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p120", "passage_kind": "narrative", "passage_sequence": 120, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Compensation Committee has the authority to retain an external compensation consultant to assist it by providing information, analysis and other advice relating to our executive compensation program and the decisions resulting from its annual executive compensation review, including the authority to approve the consultant’s reasonable fees and other retention terms. The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. Since 2020, the Compensation Committee has engaged Compensia, Inc. (“Compensia”) to serve as its compensation consultant to advise on executive and non-employee director compensation matters, including competitive market pay practices, and with the data analysis and selection of the compensation peer group. In addition to the work Compensia performed in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or the Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us or the Compensation Committee. During 2023, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: • the review, analysis and updating of our compensation peer group; • the Company’s executive compensation philosophy; • consultancy on the design and implementation of an executive long-term incentive program and the introduction of PRSUs for 2024; • the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; • a competitive market assessment for executive-level management, including analyses for potential new hires; • consultation with the Compensation Committee chair and other members between Compensation Committee meetings, including with respect to: • updates on compensation trends; and • regulatory updates; and • support on other ad hoc matters throughout the year."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b404", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b405", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b407", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b409"], "char_count": 1159, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1e43dbf26c85f1d943418cad8a1281aa8c288c51e8380a5826b9d5e918976bb1", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 404, "char_end": 57, "char_start": 0, "fragment_sha256": "edc53c848d1c656c61c22ec0de3f0b503f31d1241e444538af0430d13718e0d2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 405, "char_end": 11, "char_start": 0, "fragment_sha256": "4b3273bbd51b73d7704edbf8043b642f25af40c09139e196e5a6c04fa7372f61", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 407, "char_end": 6, "char_start": 0, "fragment_sha256": "d175754edc600e051eed80ba86c0901e65244bd6407c57a28982649a963105e1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 409, "char_end": 1079, "char_start": 0, "fragment_sha256": "8bc3418507f22c8fcfcdf84f9ea9172e0f68aa28523542e69669c4087123341e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Role of the Compensation Consultant"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p121", "passage_kind": "narrative", "passage_sequence": 121, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s92", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 35\n\nEnd Page 42\n\nAnchor\n\nThe terms of Compensia’s engagement include reporting directly to the Compensation Committee chair. Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2023, Compensia did not provide any other consulting or other services to us other than the executive and director compensation consulting services described above. The Compensation Committee has evaluated its relationship with Compensia to ensure that Compensia operates independently from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2023. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b411"], "char_count": 2831, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "45da03f4a5f3c8b668c58b164feb73ef5fc86b544820ec0b1e2effd3417e290a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 411, "char_end": 2831, "char_start": 0, "fragment_sha256": "192b230b4456b0acfb3a53bbefa642cf09b11a36ac2c29bf326580883b5a47e3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p122", "passage_kind": "narrative", "passage_sequence": 122, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Compensation Committee conducts an annual review of the compensation arrangements of our executive officers, including our named executive officers. As part of this review, the Compensation Committee evaluates the base salary levels, any sign-on and retention bonuses, and the long-term incentive compensation opportunities of our executive officers and all related performance criteria. The Compensation Committee does not establish a specific target for formulating the target total direct compensation opportunities of our executive officers. Instead, it evaluates both performance and compensation to ensure that the compensation provided to our executive officers is competitive relative to the compensation paid by similar companies in the technology and Internet retail sectors, with particular emphasis on our peer companies as described below. In making decisions about the compensation of our executive officers, the members of the Compensation Committee rely primarily on considerations of various factors, including the following: • our executive compensation program objectives; • our performance against the financial, operational and strategic objectives established by the Compensation Committee and our Board; • each executive officer’s knowledge, skills, experience, qualifications and tenure relative to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; • the scope of each executive officer’s role and responsibilities compared to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; • the prior performance of each executive officer, based on a subjective assessment of their contributions to our overall performance, and ability to lead their business unit and work as part of a team; • the potential of each executive officer to contribute to our long-term financial, operational and strategic objectives; • our CEO’s compensation relative to that of our other executive officers, particularly our other named executive officers; • our financial performance relative to our peers; • specific input from stockholders on our executive compensation program in creating the design of our executive compensation program in subsequent years; • each executive officer’s mix of short-term and long-term compensation; • the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer’s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and • the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to her own compensation)."} +{"artifact_role": 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"Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 415, "char_end": 6, "char_start": 0, "fragment_sha256": "a9996f6be7e260e8afea972bf34a20c0d1974c3a4da440f5dac9a858d596947e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 417, "char_end": 689, "char_start": 0, "fragment_sha256": "7f54e5c3b36fe2228c655bdb115cf58b8c43f8a3a8540b83d3d2f9918970131e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Setting Target Total Direct Compensation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p123", "passage_kind": "narrative", "passage_sequence": 123, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s93", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "36 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 43\n\nAnchor\n\nThese factors provide the framework for compensation decision-making and final decisions by the Compensation Committee or its recommendations to our Board for final decisions regarding the compensation opportunity for each executive officer. The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b419"], "char_count": 1979, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "bc795914b25bbe75276e62288d9549405541fe36b48c088b0d4913574ba1d78c", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and Competitive Positioning"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 419, "char_end": 1979, "char_start": 0, "fragment_sha256": "804ac20651924a5e66c3d5cc27a809cbaf8235639c8e35537bf62063697d8020", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and Competitive Positioning"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p124", "passage_kind": "narrative", "passage_sequence": 124, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s94", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. The Compensation Committee uses data drawn from a select peer group of companies to make decisions with respect to the compensation of our executive officers, including our named executive officers. The Compensation Committee uses the peer group compensation data as one of several factors in assessing executive pay program design and total equity utilization. We also supplement the data for our peer group with published compensation surveys where appropriate. The Compensation Committee's compensation decisions are made on a case-by-case basis. Benchmark results do not, in and of themselves, determine individual compensation decisions and we do not target specific pay percentiles. Overall, we believe that use of information from the peer group enables the Compensation Committee to create better alignment between executive pay and performance and to help ensure that we can attract and retain high-performing executive leaders. For both 2022 and 2023, the Compensation Committee evaluated the peer group of companies identified below, as recommended by Compensia and approved by the Compensation Committee in each respective period. The companies in this peer group were selected based on the following primary criteria: • Revenue, • Market capitalization, • Gross profit, and • Public companies in the same or adjacent industry, including either consumer focused technology-enabled services, real estate services, retail/Internet retail, or software and services. Due to our unique business model, we give primary consideration to gross profit and market capitalization when identifying the appropriate peer group. The peer group for determining our 2023 compensation decisions consisted of the following companies:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b420"], "char_count": 435, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fb2789bfa131c8a671e1dacd9ae7c30fb60b0a628df491be003924ca417346b5", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation-Setting Process", "Role of the Compensation Committee", "Peer Group and Competitive Positioning"], "items": [], "locators": 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The Compensation Committee determined to maintain the annual base salaries of our named executive officers for 2023 at their 2022 levels."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b432"], "char_count": 284, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2c52a143eea65bb0cbd6027d875e26c1a7ac04b4a3092f0dd677f50ee05a5a38", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 432, "char_end": 220, "char_start": 0, "fragment_sha256": "b7553c30b53828ad0add3dfbf84a19ba6ece673a69efecbc79ee023df3cfc343", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries"], "table_index": 22, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p131", "passage_kind": "table", "passage_sequence": 131, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s96", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b432", "text": "| | | | |\n| --- | --- | --- | --- |\n| Name | ​ | ​ | Annual Salary Rate for FY23 |\n| Carrie Wheeler | ​ | ​ | $750,000 |\n| Christina Schwartz | ​ | ​ | $350,000 |\n| Megan Meyer Toolson | ​ | ​ | $400,000 |\n| Sydney Schaub | ​ | ​ | $350,000 |\n| Daniel Morillo | ​ | ​ | $350,000 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b434"], "char_count": 684, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a80c8ac2ecd9240ea6db25aded5ca6a7ccd04ed2da2cc1a7914a0c9eff34a8cb", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Annual Bonuses for 2023"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 434, "char_end": 684, "char_start": 0, "fragment_sha256": "2b5971d6f1421f33143558ef905b7be24a0b6db5b213a43a0eb2dcc8d66f27b9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Annual Bonuses for 2023"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p132", "passage_kind": "narrative", "passage_sequence": 132, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s97", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "In 2023, as in past years, we did not maintain an annual cash bonus or other incentive plan for our other named executive officers. Instead, our Board and the Compensation Committee relied primarily on the long-term incentive compensation opportunities granted to our executive officers. Ms. Wheeler is eligible to receive an annual cash bonus based on the attainment of performance goals to be determined by the Compensation Committee. Her target annual cash bonus opportunity is $250,000, and such bonus amount was guaranteed for fiscal year 2023 only, pursuant to the amendment to her employment offer letter entered into in connection with her appointment as CEO in December 2022."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b436", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b437", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b438", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b440"], "char_count": 1385, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "517e0d9158eab4f317e8e4f1e1fbf71fc8cebe2128713fe041a4f36d527a5b2d", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 436, "char_end": 1305, "char_start": 0, "fragment_sha256": "20dff244645b92740754066fbad592d2606e299c126cf97e7c3e72b976d029bc", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 437, "char_end": 57, "char_start": 0, "fragment_sha256": "236190b19f6f1132c52e68a428005e3aa86341eee68c97ca544b1e3b7b2e48a3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 438, "char_end": 11, "char_start": 0, "fragment_sha256": "d1350843a944d09f42cbc6aa0699fc4cce5c9009c937891026dee9b98455d64f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 440, "char_end": 6, "char_start": 0, "fragment_sha256": "d175889843ea4af3b4585e4e47af0a7d1ec0a04117dfca4d85d5c37ec751f448", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p133", "passage_kind": "narrative", "passage_sequence": 133, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "In December of 2022 and in connection with the CEO leadership change, Ms. Meyer Toolson and Ms. Schwartz were awarded special retention bonuses which were paid either in part or in full during 2023. Both Ms. Schwartz and Ms. Meyer Toolson received retention bonuses to recognize their criticality to the business. Ms. Schwartz was awarded a retention bonus of $400,000, payable in equal quarterly installments in fiscal 2023 and 2024, subject to continued service through each payment date. Ms. Meyer Toolson was awarded a retention bonus of $350,000, which was payable in four equal quarterly installments in fiscal 2023. In addition, and as previously described in our 2023 proxy statement, Ms. Schwartz received a one-time cash bonus in connection with her appointment as interim CFO in the amount of $225,000, which was paid in four equal quarterly installments in 2023. This one-time bonus was awarded to recognize Ms. Schwartz’s increased responsibilities in her new role and to retain her during a critical transition period for the Company. In 2021, Mr. Morillo was awarded a cash sign-on and retention bonus in connection with his hiring in the aggregate amount of $3,800,000. The sign-on and retention bonus was payable over three years, and the final installment of $1,150,000 was paid in 2023.\n\n38 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 45\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b442"], "char_count": 3874, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "61dac04a5f642479454ab1f1def136258eedbf7ead9d0bf56fdea296dd12660a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 442, "char_end": 3874, "char_start": 0, "fragment_sha256": "39458ed4a0e546523c45df177c28ccd3fac8b8e1226c29eb4e99c2d3f1556d73", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p134", "passage_kind": "narrative", "passage_sequence": 134, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "As discussed above under “Key Changes to Executive Compensation Program for 2024,” for 2024 we introduced an annual cash bonus program under which all named executive officers are eligible for a performance-based bonus based on achievement of pre-established corporate performance goals approved by the Compensation Committee. In connection with the new annual cash bonus program, we expect to sunset the practice of awarding special one-time bonuses. Long-Term Equity Compensation We believe that providing long-term incentives in the form of equity awards encourages our executive officers, including our named executive officers, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our executive officers, including our named executive officers, to benefit from future successes in the Company through the appreciation of the value of their equity awards, our Board and the Compensation Committee believe that equity awards align our executive officers’ interests and contributions with the long-term interests of our stockholders. In addition, our Board and the Compensation Committee believe that offering meaningful equity ownership in the Company is helpful in retaining our executive officers, including our named executive officers, and other key employees. Our general practice has been to grant our named executive officers TRSU awards, and in certain circumstances PRSU awards, at the start of employment and for retention purposes. We have not historically had a formal process for granting equity awards on an annual basis. The size and precise terms of the awards are determined by the Compensation Committee. In December 2022, the Board, upon the recommendation of the Compensation Committee, approved a TRSU award for Ms. Wheeler in connection with her promotion to CEO, which grant was made in January 2023. When determining Ms. Wheeler’s TRSU grant, the Compensation Committee considered a competitive market analysis prepared by Compensia for sign-on CEO equity grants and also considered the importance of Ms. Wheeler to the Company’s ability to execute on its transformation plans. Based on this information, the Compensation Committee determined to offer Ms. Wheeler a one-time promotional TRSU grant with a target value of $25,000,000, with the number of shares of common stock granted determined by dividing such target value by the average closing price per share of the common stock over the 20-trading day period commencing with the trading day ten days before December 1, 2022 (subject to a minimum of $1.65 per share and a maximum of $2.00 per share). As a result, Ms. Wheeler received a promotional TRSU grant of 15,060,241 shares of our common stock, which vests quarterly over a four-year period commencing on December 1, 2022, subject to Ms. Wheeler’s continued employment with us on each such vesting date. At the time of grant, the grant date fair value of Ms. Wheeler’s award was $16,566,265. The January 2023 TRSU award represents Ms. Wheeler’s only equity grant in both fiscal 2023 and 2024. None of our other named executive officers received any equity awards during 2023. Health and Welfare Benefits Our named executive officers are eligible to participate in the same employee benefit plans, and on the same terms and conditions, as all other full-time, salaried U.S. employees, subject to the terms and eligibility requirements of such plans. These benefits include medical, dental and vision insurance, business travel insurance, an employee assistance program, health and dependent care flexible spending accounts, basic life insurance, accidental death and dismemberment insurance, short-term and long-term disability insurance, commuter benefits and reimbursement for mobile phone coverage."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b442"], "char_count": 1329, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "94cb3a06f721928cb32fe89c7867ff17da1a0d62143f57aec330968cd127abc6", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 442, "char_end": 5203, "char_start": 3874, "fragment_sha256": "39458ed4a0e546523c45df177c28ccd3fac8b8e1226c29eb4e99c2d3f1556d73", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p135", "passage_kind": "narrative", "passage_sequence": 135, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "We also sponsor a Section 401(k) retirement savings plan (the “Section 401(k) Plan”) that provides our executive officers, including our named executive officers, with an opportunity to save for retirement on a tax-advantaged basis subject to the limits imposed by the Internal Revenue Code of 1986, as amended (the “Code”), to the same extent as our other eligible full-time employees. Participants are able to defer up to 90% of their eligible compensation subject to applicable annual limits under the Code. All participants’ interests in their deferrals are 100% vested when contributed. In 2024, we began contributing up to $1,000 to employees’ 401(k) accounts, regardless of the amount the employee contributes. We believe that providing a vehicle for tax-deferred retirement savings through our Section 401(k) Plan adds to the overall desirability of our executive compensation package and further incentivizes our employees, including our named executive officers. We design our employee benefits programs to be affordable and competitive in relation to the market as well as compliant with applicable laws and practices. We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices and the competitive market. Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 39"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b443", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b445"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "88bca8f29c3db8505bdc046f3d569efddee7f219025428caeaf3604b1e951e58", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 443, "char_end": 11, "char_start": 0, "fragment_sha256": "95b4e036b03ec0a64031309ebf103f2c4f530db1c5d622cb810f5e79e8740e88", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 445, "char_end": 6, "char_start": 0, "fragment_sha256": "5ebac3b64da2edb8a9222357c5c6d8e8c15dbc7044db16c4cde41ddf25b0593e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p136", "passage_kind": "narrative", "passage_sequence": 136, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "End Page 46\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b447"], "char_count": 3831, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "234f71c723f9a499647d4566dba6a56b472f1b69dbe231a89d9e3bd290897e2a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 447, "char_end": 3831, "char_start": 0, "fragment_sha256": "6170c8d1ce35f937301ac41b482fe78f7df35c95d5d332c6dc3c92882c60319b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p137", "passage_kind": "narrative", "passage_sequence": 137, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Perquisites and Other Personal Benefits Currently, we do not view perquisites or other personal benefits as a significant component of our executive compensation program. Accordingly, we do not generally provide perquisites or other personal benefits to our named executive officers, except as generally made available to our employees or in situations where we believe it is appropriate to assist an individual in the performance of their duties, to make them more efficient and effective and for recruitment and retention purposes. During 2023, our NEOs did not receive perquisites or other personal benefits that were, in the aggregate, $10,000 or more for each individual. In the future, we may provide perquisites or other personal benefits in limited circumstances, such as those described in the preceding paragraph. All future practices with respect to perquisites or other personal benefits will be approved and subject to periodic review by the Compensation Committee. AnchorEmployment Offer Letters We have entered into written employment offer letters with each of our named executive officers. Each of these employment offer letters was approved prior to the Business Combination by the compensation committee and/or board of directors of Opendoor Labs Inc., or, in the case of Ms. Schaub’s offer letter, by our Compensation Committee. We believe that these arrangements were necessary to secure the services or the continued service of these individuals in a highly competitive job market. Each of these employment agreements does not have a specific term, provides for “at will” employment (meaning that either we or the named executive officer may terminate the employment relationship at any time without cause) and generally set forth the named executive officer’s base salary, eligibility to participate in our employee benefit plans and programs in effect for similarly situated employees during their employment, in some instances provided for a sign-on bonus and/or retention payment and, in certain instances, provided for certain of the named executive officers to receive equity awards on the terms and conditions as set forth in the employment offer letter. In addition, each named executive officer either agreed to execute and be bound by our Confidential Information and Inventions Assignment Agreement or confirmed that the named executive officer agreed to continue to be bound by the Confidential Information and Inventions Assignment Agreement they had previously executed, which contains, among other things, restrictive covenants pursuant to which such officers agree (i) to refrain from soliciting our customers during the term of their employment and (ii) to refrain from soliciting our employees during the term of their employment and for a period of 12 months thereafter. The Company's standard Confidential Information and Invention Assignment Agreement for executive officers does not contain any non-competition restrictive covenants to the extent prohibited by applicable law. Except for the employment offer letter with Ms. Wheeler, as amended in connection with her role transition in December 2022, the employment offer letters do not provide for any severance benefits. In connection with the appointment of Ms. Wheeler as our CEO, we and Ms. Wheeler entered into an amendment to Ms. Wheeler’s existing offer letter agreement. Pursuant to such amendment, if we terminate Ms. Wheeler’s employment without “cause” or if Ms. Wheeler resigns for “good reason” (as each term is defined in her offer letter agreement), subject to her execution of a release of claims, she will be entitled to cash severance equal to one times her annual base salary plus target bonus, 12 months of health benefits continuation, and 12 months accelerated vesting of her outstanding time-based equity awards."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b447"], "char_count": 914, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "cb30ba4a1d0330bc351c22a3a7ceb7930740efa3cfcf91375280e22b93042bc3", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 447, "char_end": 4745, "char_start": 3831, "fragment_sha256": "6170c8d1ce35f937301ac41b482fe78f7df35c95d5d332c6dc3c92882c60319b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p138", "passage_kind": "narrative", "passage_sequence": 138, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "AnchorPost-Employment Compensation Severance Plan We maintain an Executive Severance Plan (the “Severance Plan”), effective as of December 22, 2022, and amended on February 26, 2024, under which our executive officers are eligible to receive severance payments and benefits in connection with certain qualifying terminations of their employment, subject to the conditions set forth in the Severance Plan. The Severance Plan is intended to provide a consistent framework to address covered terminations and help maintain our executive officers’ continued focus on their assigned duties to maximize stockholder value if there is a potential change in control transaction. Each of our 2023 named executive officers other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023) is eligible to participate in the Severance Plan. 40 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b448", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b450"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2b9f1a820d6a294586fc8333c9a14149c504c4df9b370f98155e8a98b7e804fe", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES 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“change in control” (each as defined in the Severance Plan), the participant shall receive (i) a cash severance payment equal to the participant’s then-current base salary multiplied by 1.5 for our CEO or 1.0 for our other named executive officers, paid in installments over an 18- or 12-month period, respectively, (ii) a pro rata portion of the participant’s target annual cash bonus for the year of termination, paid in installments over 18 months for our CEO or 12 months for our other named executive officers, (iii) payment or reimbursement of the cost of COBRA premiums for the participant and the participant’s dependents for up to 18 months for our CEO or 12 months for our other named executive officers, and (iv) 100% acceleration of the vesting of the participant’s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements. Upon any other termination by us without cause or upon a resignation by an eligible participant for good reason, the participant will receive (i) a cash severance payment equal to the sum of the participant’s then-current base salary plus target bonus, in the case of our CEO, and a cash severance payment equal to the participant’s then-current base salary multiplied by 0.5, in the case of our other named executive officers, paid in installments over 12 months for our CEO and six months for our other named executive officers, (ii) payment or reimbursement of the cost of the COBRA premiums for the participant and the participant’s dependents for up to 12 months, and (iii) acceleration of the vesting of the portion of the participant’s then-outstanding unvested equity awards that are subject solely to time-based vesting requirements and that would otherwise vest within the 12- or six-month period after termination for our CEO or our other named executive officers, respectively (or, 12 months if any NEO other than our CEO has been employed for less than 12 months)."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b452"], "char_count": 3981, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2a422af5a4b7b84b5160d49eeb97e5a8f29f20d87c053e750837ac19b3eeb616", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 452, "char_end": 6193, "char_start": 2212, "fragment_sha256": "5901318565f142d4cc58486a8aa5feb9250be716989e14bd769e7f46cf296875", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p141", "passage_kind": "narrative", "passage_sequence": 141, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "For purposes of the Severance Plan, “cause” has the meaning set forth in the participant’s offer letter agreement, employment agreement or similar agreement with the participant’s employer, or, in the absence of such agreement, or if such agreement does not have a definition of “cause,” means: (a) the participant’s commission of any act that constitutes a felony or any crime involving dishonesty or moral turpitude, (b) the participant’s engaging in any act of fraud or embezzlement, whether or not related to the business of the Company, or any other act of material dishonesty against the Company or any of its Affiliates, (c) any material breach by the participant of any offer letter agreement, employment agreement or similar agreement with the participant’s employer, or of the Employee Confidential Information and Invention Assignment Agreement or similar agreement or of any material written policy of the Company and, if curable, the participant’s failure to cure such breach within 30 days after receiving written notice thereof; (d) the willful and continued failure by the participant to substantially perform the participant’s duties to the Company (other than any such failure resulting from the Participant’s incapacity due to physical or mental illness), after written demand for substantial performance is delivered by the Company that identifies with reasonable specificity the manner in which the Company believes the participant has not substantially performed the participant’s duties, which is not cured within 30 days after notice of such failure has been given to the participant by the Company; (e) the willful engaging by the participant in misconduct or gross neglect (including any conduct that is in violation of the written employee workplace policies of the Company) that is injurious to the Company, monetarily, in reputation or otherwise; or (f) any other intentional act causing material damage to the Company’s business, property or reputation. For purposes of the Severance Plan, “good reason” has the meaning set forth in the participant’s offer letter agreement, employment agreement or similar agreement with the participant’s employer, or, in the absence of such agreement, or if such agreement does not have a definition of “good reason,” means the occurrence of any of the following events without the participant’s written consent: (a) a reduction by the Company or its successor of more than 20% in the participant’s rate of annual base salary, unless such reduction is in connection with and proportional to reductions to the base salary reductions of other executives of the Company; (b) a material reduction in the participant’s job responsibilities, duties or authority (provided that a mere change in title to an employment position that is substantially similar to the prior employment position shall not constitute a material reduction in job responsibilities, duty or authority); or (c) a change in the geographic location of the Participant’s principal place of employment to any location more than 50 miles from the Participant’s current principal place of employment. Notwithstanding the foregoing, “good reason” will not exist for purposes of the Severance Plan unless, within 30 days after the initial occurrence of a circumstance that the participant believes in good faith to constitute good reason, the Participant delivers written notice to the Company setting forth with specificity such circumstance the Participant believes in good faith constitutes good reason, the Company fails to cure any claimed event of good reason (if capable of cure) within 30 days after receipt of such notice, and the participant actually terminates their employment no later than 30 days following the expiration of the Company’s cure period. 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"Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p144", "passage_kind": "narrative", "passage_sequence": 144, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "We are not obligated to provide tax reimbursements or “gross-ups” to any of our executive officers, including our named executive officers, in the event that the compensation and benefits received under the Severance Plan or otherwise would result in the imposition of excise taxes on the named executive officer under Section 4999 of the Internal Revenue Code. We believe that having in place reasonable and competitive post-employment compensation arrangements, including in the event of a change in control of the Company, is essential to attracting and retaining highly-qualified executive officers. The Compensation Committee does not consider the specific amounts payable under the post-employment compensation arrangements when determining our named executive officers’ compensation. We do believe, however, that these arrangements are necessary to offer competitive compensation packages. AnchorHedging and Pledging of Securities We believe it is improper and inappropriate for any person associated with Opendoor to engage in short-term or speculative transactions involving the Company's securities. Our directors, officers and employees are, therefore, prohibited from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to or have the effect of hedging or offsetting any decrease in the market value of the Company's equity securities (whether they are granted to such individual by the Company as part of such person's compensation or otherwise held, directly or indirectly, by such individual), or that may cause a director, officer or employee to no longer have the same objectives as the Company’s other stockholders, except as otherwise pre-approved by the Board in each instance. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. AnchorStock Ownership Guidelines We maintain stock ownership guidelines for our executive officers and directors. Within five years of the establishment of the guidelines (or becoming subject to the guidelines, if later), our CEO is required to hold the lesser of vested shares of the Company’s common stock equal to six times annual base salary, or 450,000 shares; other executive officers are required to hold the lesser of vested shares of the Company’s common stock equal to three times annual base salary, or 225,000 shares; and directors are required to hold the lesser of shares of the Company’s common stock equal to five times their annual cash retainer, or 60,000 shares. Only issued shares are counted toward satisfaction of the ownership requirement. Accordingly, unvested equity awards (including both time- and performance-based) and unexercised stock options, if any, do not count toward satisfying the executive stock ownership requirement. While our NEOs and directors are still within the five-year period to accumulate their ownership holdings, when measured as of December 31, 2023, each of our directors, with the exception of Ms. Hamilton, who has until November 2028 to meet the ownership requirement, and each of our NEOs, other than Mr. Morillo (who voluntarily resigned as an executive officer on February 21, 2023), have met the specified levels of ownership."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b457"], "char_count": 870, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "791eefc1015aae18ae4302922b08d9615924f56aa75bbae27c53153753e36d5c", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 457, "char_end": 4563, "char_start": 3693, "fragment_sha256": "e3642793ae6aaa58e0c0e90d3a0f02027962b510a875faf5c2de3ed67d03c98e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p145", "passage_kind": "narrative", "passage_sequence": 145, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "AnchorClawbacks We have adopted a compensation recovery policy as required by Rule 10D-1 under the Exchange Act, and the corresponding listing standards of the Nasdaq, which provides for the mandatory recovery from current and former officers of incentive-based compensation that was erroneously awarded during the three fiscal years preceding the date that the company is required to prepare an accounting restatement, including to correct an error that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period. The amount required to be recovered is the excess of the amount of incentive-based compensation received over the amount that otherwise would have been received had it been determined based on the restated financial measure. 42 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b458", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b460", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b462"], "char_count": 3913, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "685ffe61be378cddfc803f61431ef1c494ecfa4450fc721e5173553869363ca7", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 458, "char_end": 11, "char_start": 0, "fragment_sha256": "7c767c8728fee4ac9eb4d2ca48ddc6bf687c1e1985fd88d182378d327cd11c62", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 460, "char_end": 6, "char_start": 0, "fragment_sha256": "f9d1a3df76d8e0050ce2d030254570ae183d0e2763091e021119606bd12fce7d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 462, "char_end": 3892, "char_start": 0, "fragment_sha256": "7d0c1fc2a4ed901171277c641f92157bf7fa0b410d1236db9bef3b79dc92f7c2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorCompensation Elements", "Base Salaries", "Special One-Time Bonuses"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p146", "passage_kind": "narrative", "passage_sequence": 146, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s98", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "End Page 49\n\nAnchor\n\nAnchorTax and Accounting Considerations The Compensation Committee takes the applicable tax and accounting requirements into consideration in designing and overseeing our executive compensation program. Deductibility of Executive Compensation For federal income tax purposes, publicly-traded companies may be prohibited under Section 162(m) of the Code from deducting employee compensation in excess of $1 million paid to their chief executive officer, chief financial officer, any other executive officer whose total compensation is required to be reported to stockholders under the Exchange Act by reason of such individual being among the three highest compensated executive officers for the tax year and any executive officer who was subject to the deduction limit in any tax year beginning after December 31, 2016. Even if Section 162(m) may limit the compensation deduction, our Board and the Compensation Committee believe our compensation policies and practices should be designed to help us meet our established goals and objectives. While the Compensation Committee will consider the impact of the Section 162(m) deduction limitation, it intends to continue to compensate our executive officers, including our named executive officers, in a manner that is in the best interest of our stockholders and reserves the right to make compensation decisions that may not be deductible under Section 162(m) where the Compensation Committee determines the compensation to be appropriate and in the best interests of the Company and our stockholders. Accounting for Stock-Based Compensation The Compensation Committee takes accounting considerations into account in designing compensation plans and arrangements for our executive officers and other employees. Chief among these is the Financial Accounting Standard Board’s Accounting Standards Codification, Compensation – Stock Compensation (Topic 718) (“ASC Topic 718”), the standard which governs the accounting treatment of certain stock-based compensation. Among other things, ASC Topic 718 requires us to record a compensation expense in our income statement for all equity awards granted to our executive officers and other employees. This compensation expense is based on the grant date “fair value” of the equity award and, in most cases, will be recognized on a straight-line basis for TRSUs and using an accelerated attribution approach for PRSUs over the award’s requisite service period (which, generally, will correspond to the award’s vesting schedule). This compensation expense is also reported in the compensation tables below, even though recipients may never realize any value from their equity awards. AnchorCompensation Committee Report The following Compensation Committee Report is not “soliciting material,” is not deemed “filed” with the SEC and is not to be incorporated by reference in any filing of the Company under the Exchange Act, or the Securities Act of 1933, as amended, other than in Opendoor’s Annual Report on Form 10-K where it shall be deemed to be furnished, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. The Compensation Committee has reviewed and discussed the section captioned “Compensation Discussion and Analysis” as required by Item 402(b) of Regulation S-K and contained within this proxy statement with management. Based on such review and discussions, the Compensation Committee approved the “Compensation Discussion and Analysis” section to be included in our proxy statement and incorporated into our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Submitted by the members of the Compensation Committee: Glenn Solomon, Compensation Committee Chair Adam Bain, Compensation Committee Member Pueo Keffer, Compensation Committee Member Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 43"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b463", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b465"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6aac950e107095f50b1e8e63fe1d5b92da508d2de7f61ba66c4c7d9d817ee6ab", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES 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Mr. Morillo did not hold any outstanding equity awards as of December 31, 2023. For awards granted prior to the completion of the Business Combination, the number of shares subject to the awards have been adjusted to reflect the impact of the Business Combination."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b488"], "char_count": 3859, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6f0daeca638b845f494c835f7be67a5586fe18dfc81a4e03da7fff245d8d763e", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2023 Fiscal Year End"], 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b488", "text": "| | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| | ​ | ​ | Option Awards | ​ | ​ | Stock Awards | | | | | | | | | | | | | | | | | | | | | |\n| Name | ​ | ​ | Grant Date | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Exercisable | ​ | ​ | Number of Securities Underlying Unexercised Options (#) Unexercisable | ​ | ​ | Option Exercise Price ($) | ​ | ​ | Option Expiration Date | ​ | ​ | Number of Shares or Units of Stock That Have Not Vested (#) | ​ | ​ | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | ​ | ​ | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#) | ​ | ​ | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(1) |\n| Carrie Wheeler | ​ | ​ | 09/03/2020(2) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 655,105 | ​ | ​ | 2,934,870 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/17/2020(3) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 353,837 | ​ | ​ | 1,585,190 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 01/02/2023(4) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 11,295,181 | ​ | ​ | 50,602,411 | ​ | ​ | — | ​ | ​ | — |\n| Christina Schwartz | ​ | ​ | 09/28/2016 | ​ | ​ | 59,658 | ​ | ​ | — | ​ | ​ | $0.97 | ​ | ​ | 09/27/2026 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 06/12/2017 | ​ | ​ | 4,043 | ​ | ​ | — | ​ | ​ | $1.02 | ​ | ​ | 6/11/2027 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 06/10/2020(5) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 2,154 | ​ | ​ | 9,650 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 04/15/2021(6) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 3,849 | ​ | ​ | 17,244 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 04/15/2021(7) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 7,544 | ​ | ​ | 33,797 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 04/15/2021(8) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 46,500 | ​ | ​ | 208,320 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 02/09/2022(9) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 35,691 | ​ | ​ | 159,896 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 02/09/2022(10) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 13,727 | ​ | ​ | 61,497 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 08/24/2022(11) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 38,760 | ​ | ​ | 173,645 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/20/2022(12) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 125,000 | ​ | ​ | 560,000 | ​ | ​ | — | ​ | ​ | — |\n| Megan Meyer Toolson | ​ | ​ | 06/02/2016 | ​ | ​ | 97,049 | ​ | ​ | — | ​ | ​ | $0.79 | ​ | ​ | 06/01/2026 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 06/12/2017 | ​ | ​ | 22,030 | ​ | ​ | — | ​ | ​ | $1.02 | ​ | ​ | 06/11/2027 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 09/29/2017 | ​ | ​ | 62,453 | ​ | ​ | — | ​ | ​ | $1.02 | ​ | ​ | 09/28/2027 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 09/29/2017 | ​ | ​ | 174,028 | ​ | ​ | — | ​ | ​ | $1.02 | ​ | ​ | 09/28/2027 | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | |\n| | ​ | ​ | 03/09/2021(13) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 312,500 | ​ | ​ | 1,400,000 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 09/09/2022(14) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 387,597 | ​ | ​ | 1,736,435 | ​ | ​ | — | ​ | ​ | — |\n| | ​ | ​ | 12/20/2022(15) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 187,500 | ​ | ​ | 840,000 | ​ | ​ | — | ​ | ​ | — |\n| Sydney Schaub | ​ | ​ | 10/07/2022(16) | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | | ​ | ​ | 913,637 | ​ | ​ | 4,093,094 | ​ | ​ | — | ​ | ​ | — |"} +{"artifact_role": "primary", "block_ids": 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closing market price of the Company’s common stock on December 29, 2023 of $4.48. These amounts do not reflect the actual economic value that may be realized by the named executive officer. (2) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting condition was satisfied as to 25% of the award on September 3, 2021, the first anniversary of Ms. Wheeler’s employment start date, and 75% of the award vesting in substantially equal quarterly installments over a three-year period thereafter. (3) The TRSUs will vest only if both (i) a liquidity based vesting condition and (ii) a time-based vesting condition are satisfied, in each case, subject to continued employment with us through the applicable vesting date. The completion of the Business Combination satisfied the liquidity-based vesting condition. The time-based vesting conditions have a vesting commencement date of September 3, 2023, the third anniversary of Ms. Wheeler’s employment start date, and vest in substantially equal quarterly installments over a two-year period commencing on such third anniversary. (4) The TRSUs are subject to a four-year vesting schedule, with 1/16th of the units subject to the award vesting in successive equal quarterly installments commencing on December 1, 2022. (5) The TRSUs are subject to a four-year vesting schedule, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following March 15, 2020, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to continued employment. (6) The TRSUs are subject to a four-year vesting schedule, with 1/16th of the units subject to the award vesting in successive equal quarterly installments following March 15, 2021, subject to continued employment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b490", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b491", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b493", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b495"], "char_count": 2807, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "52ba5d16879453930e3f40aebb7206954c5db657e7bd1b7ba50f0a4d5c923a4b", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2023 Fiscal Year End"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 490, "char_end": 57, "char_start": 0, "fragment_sha256": "0af7c829c9734c9486aaf972dd6a9a55a554701ee61c87fd1d476560d0921890", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2023 Fiscal Year End"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 491, "char_end": 11, "char_start": 0, "fragment_sha256": "8c0b3210176dae5885d544defa84c45030c48b565acc5dd086127c8d93b8a31d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2023 Fiscal Year End"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 493, "char_end": 6, "char_start": 0, "fragment_sha256": "f40cf3072571af2b108dde3a706ac986e277e9659d4a358e7b337679ed02e6d7", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2023 Fiscal Year End"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 495, "char_end": 2727, "char_start": 0, "fragment_sha256": "2dc1515e33b434c6ffd0df2e42ceb9519f0f326c9c1b1a37b95a48c5bc1bfcc9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorOutstanding Equity Awards at 2023 Fiscal Year End"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p157", "passage_kind": "narrative", "passage_sequence": 157, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s102", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "46 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 53\n\nAnchor\n\n(7) The TRSUs are subject to a four-year vesting schedule, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following March 15, 2021, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to continued employment. (8) The TRSU award is subject to a three-year vesting schedule with 25% of the units subject to the award vesting January 15, 2023, and 1/8th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment. (9) The TRSUs vest over four years, with 5% of the units subject to the award vesting in eight successive equal quarterly installments following January 15, 2022, and 7.5% of the units vesting in eight successive equal quarterly installments thereafter, subject to continued employment. (10) The TRSUs vest over two years, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following June 15, 2022, subject to continued employment. (11) The TRSUs are subject to a two-year vesting schedule with 25% of the total number of units subject to the award vesting on the six-month anniversary of December 15, 2022 and 1/8th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment with us on each such vesting date. (12) The TRSUs are subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to continued employment. (13) The TRSUs are subject to a four-year vesting schedule with 25% of the total number of units subject to the award having vested on January 15, 2022, the first anniversary of Ms. Meyer Toolson’s vesting commencement date, and 1/16th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment. (14) The TRSUs are subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to continued employment. (15) The TRSUs are subject to a two-year vesting schedule, with 1/8th of the units subject to the award vesting in successive equal quarterly installments following December 15, 2022, subject to continued employment. (16) The TRSUs are subject to a three-year vesting schedule with 33% of the total number of units subject to the award vesting on the one-year anniversary of the vesting commencement date and 1/12th of the total number of units subject to the award vesting on a quarterly basis thereafter, subject to continued employment."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b497"], "char_count": 148, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c017ff8e575631cb769a7007b78c02db95b2a041a2388c34c29a4d2550dff188", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR 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last year, as a member of the board of directors or compensation committee of any entity that has one or more executive officers serving as a member of our Board.\n\n48 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 55\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b517"], "char_count": 758, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c809b23b3b860d39a8664c45b9b7365d5a2142229c0aedbd8d17db79519f1fc7", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", 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The annual cash compensation amounts are payable in equal quarterly installments, in arrears, promptly following the end of each quarter in which the service occurred, provided that the quarterly payment for each non-employee director is prorated for the portion of such calendar quarter actually served as a non-employee director. • Annual Board Service Retainer: • All Eligible Directors: $50,000 • Non-Executive Chair/Lead Director (as applicable): $75,000 (in lieu of above) • Annual Committee Member Service Retainer: • Member of the Audit Committee: $10,000 • Member of the Compensation Committee: $7,500 • Member of the Nominating Committee: $5,000 • Annual Committee Chair Service Retainer (in lieu of Committee Member Service Retainer): • Chair of the Audit Committee: $20,000 • Chair of the Compensation Committee: $15,000 • Chair of the Nominating Committee: $10,000 Prior to the start of each fiscal year, a non-employee director may elect to receive 100% of their annual cash compensation for the next fiscal year as TRSUs under the 2020 Plan (or any successor equity plan) for that number of shares equal to (a) the projected annual cash compensation for such non-employee director for the fiscal year based on Board and committee membership as of the first day of such fiscal year divided by (b) the average closing price per share of our common stock over the 20 trading days ending on the last trading day of the month preceding the month in which the TRSU grant is made (the “Share Price”). 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Each such annual grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that the non-employee director continues to be a non-employee director on such vesting date. In connection with her election to the Board, on November 1, 2023, Ms. Hamilton received a TRSU grant for a number of shares of our common stock equal to $200,000 divided by the Share Price, rounded to the nearest whole share, and prorated to reflect her partial year of service on the Board following our 2023 Annual Meeting of Stockholders.\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 49\n\nEnd Page 56\n\nAnchor\n\nMs. Hamilton’s November 2023 TRSU grant will vest in a single installment on the earlier to occur of (a) our next annual meeting of stockholders and (b) the first anniversary of the date of grant, provided that Ms. Hamilton continues to be a non-employee director on such vesting date. Notwithstanding the foregoing, for each non-employee director in office as of immediately prior to the closing of a Change in Control (as defined in the 2020 Plan), their then-outstanding equity awards granted pursuant to the Non-Employee Director Compensation Policy will become fully vested immediately prior to the closing of such Change in Control."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b529"], "char_count": 119, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "77067703a70b86bddd2c51e62e1da2465f636c4199fa7997a069b3321e9b9ad5", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", 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John Rice | ​ | ​ | 80,000 | ​ | ​ | 273,125 | ​ | ​ | 353,125 |\n| Glenn Solomon | ​ | ​ | 65,000 | ​ | ​ | 272,720 | ​ | ​ | 337,720 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b531"], "char_count": 1788, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "23dc26e40622e4d85f0fab9f3d4b50047225456d3472426d5eb987805919c724", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Anchor2023 Director Compensation Table"], "items": [], "locators": [{"artifact_id": 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"https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "(1) The amount of the cash retainers that our non-employee directors (other than Mr. Jaffe and Mr. Kilar) elected to receive in the form of TRSUs is reflected in the “Fees Earned or Paid in Cash” column, and the grant date fair value of the TRSUs granted in satisfaction of such elections on February 24, 2023 that was greater than the amount of the cash retainers to be paid in the form of TRSUs, if any, and is reflected in the “Stock Awards” column. The number of TRSUs granted to each non-employee director in lieu of cash retainers for 2023, and the corresponding aggregate grant date fair value of such TRSUs, is as follows: Adam Bain, 43,325 TRSUs, $69,320; Cipora Herman, 44,929 TRSUs, $71,886; Pueo Keffer, 38,511 TRSUs, $61,618; John Rice, 51,348 TRSUs, $82,157; and Glenn Solomon, 41,720 TRSUs, $66,752. (2) Amounts listed represent the aggregate grant date fair value of awards granted during the year referenced, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. These amounts do not reflect the actual economic value that may be realized by the non-employee director. For additional information regarding the stock-based awards granted to our named executive officers, please see Note 12, Share-Based Awards to the consolidated financial statements included in our 2023 Annual Report. Amounts listed include the annual TRSU award for each non-employee director and, for each non-employee director who elected to receive their cash compensation in the form of TRSUs, the grant date fair value of the TRSUs granted in satisfaction of such elections that was greater than the amount of the cash retainers. 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"passage_kind": "narrative", "passage_sequence": 173, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s110", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are required to disclose the ratio of the annual total compensation of our CEO to the annual total compensation of our median compensated employee, using the required calculations. The pay ratio included in this information is a reasonable estimate calculated in a manner that is intended to be consistent with Item 402(u) of Regulation S-K. For 2023: • The annual total compensation of our median employee was $86,352; and • The annual total compensation of our CEO, as reported in the Summary Compensation Table in this proxy statement, was $17,566,265. • The ratio of the annual total compensation of Ms. Wheeler to our median employee was 203:1. For purposes of this pay ratio, both the CEO’s and the median employee’s annual total compensation were calculated in accordance with the requirements of the Summary Compensation Table. To identify the median employee for fiscal 2023, we looked at our employee population as of December 31, 2023 and used a consistently applied compensation measure (“CACM”) to all of the employees included in the calculations. Our CACM consisted of total compensation calculated in accordance with Item 402(c) of Regulation S-K as obtained from our internal payroll systems. This pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules. • December 31, 2023 was selected as the determination date as it enabled us to choose a pay date that aligned across the Company. • As of December 31, 2023, our U.S. and non-U.S. employee population consisted of approximately 1,986 full-time and part-time employees. Employees in Canada and India were included in the calculation, and accounted for 30 and 241 employees, respectively, with 1,715 employees in the U.S. • Total compensation (base salary, bonuses, plus equity incentive compensation) was selected as the most appropriate and consistently applied compensation measure to determine the median worker. • For non-U.S. employees, we used exchange rates as of December 11, 2023 of 0.012 INR and 0.734 CAD to the U.S. dollar. • After identifying the median employee based on total compensation, total compensation was calculated for the median employee using the same methodology used for the NEOs in the Summary Compensation Table on page 44. • As noted above, the median employee’s annual total compensation was $86,352. This pay ratio disclosure is a reasonable estimate. Because the SEC rules for identifying the median employee and calculating the pay ratio permit companies to use various methodologies and assumptions, to apply certain exclusions and to make reasonable estimates that reflect their employee populations and compensation practices, the pay ratio reported by other companies may not be comparable with the pay ratio that we have reported."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b540", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b541", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b543"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "44842403e915d444b8d9691c9c06656c662e2a6e296fcd0a3ad60e42094c430f", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": 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Paid for Non-PEO NEOs | ​ | ​ | Value of Initial Fixed $100 Investment Based On: | ​ | ​ | Net Income / (Loss) | | | |\n| ​ | Opendoor Total Shareholder Return | ​ | ​ | Peer Group Total Shareholder Return | ​ | | | | | | | | | | | | | | | | | | | | | | |\n| (1) | ​ | ​ | (2) | ​ | ​ | (3) | ​ | ​ | (2) | ​ | ​ | (3) | ​ | ​ | (2) | ​ | ​ | (4) | ​ | ​ | (5) | ​ | ​ | (6) | ​ | ​ | ($Millions)(7) |\n| 2023 | ​ | ​ | $17,566,265 | ​ | ​ | $67,087,377 | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | $838,011 | ​ | ​ | $3,103,004 | ​ | ​ | $14 | ​ | ​ | $104 | ​ | ​ | ($275) |\n| 2022 | ​ | ​ | $383,334 | ​ | ​ | ($33,760,155) | ​ | ​ | $325,000 | ​ | ​ | ($191,665,693) | ​ | ​ | $2,209,789 | ​ | ​ | ($16,981,618) | ​ | ​ | $4 | ​ | ​ | $77 | ​ | ​ | ($1,353) |\n| 2021 | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | $112,333,540 | ​ | ​ | ($95,777,677) | ​ | ​ | $24,302,144 | ​ | ​ | $​5,199,835 | ​ | ​ | $47 | ​ | ​ | $112 | ​ | ​ | ($662) |\n| 2020 | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | $370,240,992 | ​ | ​ | $396,723,976 | ​ | ​ | $10,350,414 | ​ | ​ | $32,491,540 | ​ | ​ | $73 | ​ | ​ | $100 | ​ | ​ | ($253) |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b549", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b550", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b551", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b552", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b553", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b554", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b555", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b556", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b558", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b560"], "char_count": 1494, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": 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"section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "1. Carrie Wheeler served as the Company’s Principal Executive Officer (our “PEO”) for the entirety of fiscal year 2023 and from December 1 to December 31, 2022. Our former PEO, Eric Wu, served as our PEO for the entirety of fiscal 2020 and 2021 as well as January 1 to November 30, 2022. The Company’s other NEOs (the “Non-PEO NEOs”) for the indicated fiscal years were as follows:\n\n– 2023: Christina Schwartz, Megan Meyer Toolson, Sydney Schaub, and Daniel Morillo\n\n– 2022: Christina Schwartz, Sydney Schaub, Andrew Low Ah Kee, and Daniel Morillo\n\n– 2021: Carrie Wheeler, Andrew Low Ah Kee, Daniel Morillo, Ian Wong, and Elizabeth Stevens\n\n– 2020: Carrie Wheeler, Gautam Gupta, Julie Todaro, Tom Willerer, and Elizabeth Stevens\n\n2. Amounts reported in these columns represent (i) the total compensation reported in the Summary Compensation Table for the indicated fiscal year in the case of our PEO, (ii) former PEO, and (iii) the average of the total compensation reported in the Summary Compensation Table for the Non-PEO NEOs in the indicated year for such years.\n\n52 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 59\n\nAnchor\n\n3. Amounts reported in these columns represent the compensation actually paid to (lost by) our PEO and former PEO for the indicated fiscal year, as calculated under Item 402(v) of Regulation S-K based on their total compensation reported in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the tables below:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b561"], "char_count": 1447, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "c354087568f7572cfc22cfbdc176a4a61b94dae7f172f038e7480206724982cb", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 561, "char_end": 1313, "char_start": 0, "fragment_sha256": "3a6d1fa28c4823ca78c1ba0d7e1339399ded351dc74f4d3bf0c8e0f20e0b1fd2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": 31, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p178", "passage_kind": "table", "passage_sequence": 178, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b561", "text": "| | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| PEO | | | | | | | | | |\n| +/- | ​ | ​ | | ​ | ​ | 2022 | ​ | ​ | 2023 |\n| | ​ | ​ | Summary Compensation Table - Total Compensation | ​ | ​ | $383,334 | ​ | ​ | $17,566,265 |\n| - | ​ | ​ | Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | ​ | ​ | $0 | ​ | ​ | $16,566,265 |\n| + | ​ | ​ | Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | ​ | ​ | $0 | ​ | ​ | $50,602,411 |\n| + | ​ | ​ | Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | ​ | ​ | ($25,998,352) | ​ | ​ | $3,349,687 |\n| + | ​ | ​ | Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | ​ | ​ | $0 | ​ | ​ | $10,589,231 |\n| + | ​ | ​ | Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | ​ | ​ | ($8,145,137) | ​ | ​ | $1,546,048 |\n| - | ​ | ​ | Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | ​ | ​ | $0 | ​ | ​ | $0 |\n| = | ​ | ​ | Compensation Actually Paid | ​ | ​ | ($33,760,155) | ​ | ​ | $67,087,377 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b562"], "char_count": 1679, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "24ab05bc53a095ff9d92710f20fce1e03899a860b02602a029b049e4d8c3b8e7", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 562, "char_end": 1518, "char_start": 0, "fragment_sha256": "f93daefa7fc5b17e45beb66c0d7ced9c510f3eb8f499f6931ae26e81eec3c702", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": 32, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p179", "passage_kind": "table", "passage_sequence": 179, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b562", "text": "| | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Former PEO | | | | | | | | | | | | |\n| +/- | ​ | ​ | | ​ | ​ | 2020 | ​ | ​ | 2021 | ​ | ​ | 2022 |\n| | ​ | ​ | Summary Compensation Table - Total Compensation | ​ | ​ | $370,240,992 | ​ | ​ | $112,333,540 | ​ | ​ | $325,000 |\n| - | ​ | ​ | Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | ​ | ​ | $370,051,408 | ​ | ​ | $111,598,143 | ​ | ​ | $0 |\n| + | ​ | ​ | Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | ​ | ​ | $391,810,043 | ​ | ​ | $64,558,478 | ​ | ​ | $0 |\n| + | ​ | ​ | Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | ​ | ​ | $0 | ​ | ​ | ($165,137,966) | ​ | ​ | ($7,421,831) |\n| + | ​ | ​ | Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | ​ | ​ | $4,724,349 | ​ | ​ | $19,762,150 | ​ | ​ | $0 |\n| + | ​ | ​ | Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | ​ | ​ | $0 | ​ | ​ | ($15,695,736) | ​ | ​ | ($14,858,822) |\n| - | ​ | ​ | Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | ​ | ​ | $0 | ​ | ​ | $0 | ​ | ​ | $169,710,040 |\n| = | ​ | ​ | Compensation Actually Paid | ​ | ​ | $396,723,976 | ​ | ​ | ($95,777,677) | ​ | ​ | ($191,665,693) |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b563", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b564", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b565", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b567", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b569"], "char_count": 628, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0520c9fc72525f0905908c1b7a3045c5da119360d42b3e218ca911551594c958", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 563, "char_end": 202, "char_start": 0, "fragment_sha256": "7e3973f55b9242f9da35e0ed4c516f17727a40c3f5fa4fb5f9a9772fcb0ba5e1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 564, "char_end": 57, "char_start": 0, "fragment_sha256": "059bdb77eb4331f97006a3fd33fca00700e0f8c9f13e019b5686bad8fa9c3a06", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 565, "char_end": 11, "char_start": 0, "fragment_sha256": "ab93078c388257de9d450698ab8b00718252adb267c1a820d7b25d364e9b6271", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 567, "char_end": 6, "char_start": 0, "fragment_sha256": "94a9512a8a8686d8323a6e8944ad48f2ae2637151b5740f70ae7b2dec5ddac7d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 569, "char_end": 344, "char_start": 0, "fragment_sha256": "7352babf57d1e0659999df7679aba3141427d7fa9cab1797b548735c196e40b2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": null, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p180", "passage_kind": "narrative", "passage_sequence": 180, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Equity Award values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.\n\nOpendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 53\n\nEnd Page 60\n\nAnchor\n\n4. Amounts reported in this column represent the compensation actually paid to the Non-PEO NEOs in the indicated fiscal year, as calculated under Item 402(v) of Regulation S-K based on the average total compensation for such NEOs reported in the Summary Compensation Table for the indicated fiscal year and adjusted as shown in the table below:"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b570"], "char_count": 1893, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "91a63da240661963587bf75a343f2f7c8cf4bb81f71cf8102f5703c3e754cfbb", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 570, "char_end": 1705, "char_start": 0, "fragment_sha256": "a7a6e3a2bb065ffaad5a4a43d98f3608d0106b0b693393ae65eed81a0e971382", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance"], "table_index": 33, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p181", "passage_kind": "table", "passage_sequence": 181, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s111", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b570", "text": "| | | | | | | | | | | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| NEO Average | | | | | | | | | | | | | | | |\n| +/- | ​ | ​ | | ​ | ​ | 2020 | ​ | ​ | 2021 | ​ | ​ | 2022 | ​ | ​ | 2023 |\n| | ​ | ​ | Summary Compensation Table - Total Compensation | ​ | ​ | $10,350,414 | ​ | ​ | $24,302,144 | ​ | ​ | $2,209,789 | ​ | ​ | $838,011 |\n| - | ​ | ​ | Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | ​ | ​ | $10,012,145 | ​ | ​ | $23,637,936 | ​ | ​ | $1,551,351 | ​ | ​ | $0 |\n| + | ​ | ​ | Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | ​ | ​ | $19,904,276 | ​ | ​ | $11,832,656 | ​ | ​ | $572,406 | ​ | ​ | $0 |\n| + | ​ | ​ | Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | ​ | ​ | $11,441,499 | ​ | ​ | ($8,760,674) | ​ | ​ | ($14,604,217) | ​ | ​ | $1,721,801 |\n| + | ​ | ​ | Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | ​ | ​ | $61,546 | ​ | ​ | $5,537,345 | ​ | ​ | $20,842 | ​ | ​ | $0 |\n| + | ​ | ​ | Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | ​ | ​ | $1,459,244 | ​ | ​ | ($3,354,547) | ​ | ​ | ($3,629,087) | ​ | ​ | $875,951 |\n| - 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Equity Award values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.\n\n5. Pursuant to Item 402(v) of Regulation S-K, the comparison assumes $100 was invested in our common stock on December 21, 2020, which was the first day our common stock began trading after the closing of the Business Combination, using the closing stock price on that date. Historic stock price performance is not necessarily indicative of future stock price performance.\n\n6. The TSR Peer Group is the Nasdaq Real Estate and Other Financial Services Index. This calculation assumes that $100 was invested in this index on December 21, 2020 (aligned with the period used in footnote #5 above).\n\n7. Amounts reported in this column represent the Company’s net income (loss) for the indicated years as reported in our 2023 Annual Report and 2022 Annual Report."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b576"], "char_count": 427, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ecc73cdf76c87f4e0b5ddf76aa34bdeaabe6a912d5aedda6592dc98f31f62b75", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance", "Tabular List of Financial Performance Measures"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 576, "char_end": 427, "char_start": 0, "fragment_sha256": "49eb632807168e674057360c8d6fabbad3dfc9cfb8ace515917b96942c8be6f3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPay Versus Performance", "Tabular List of Financial Performance Measures"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p183", "passage_kind": "narrative", "passage_sequence": 183, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s112", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Prior to 2024, we did not use any financial performance measures in determining executive compensation, other than stock price, given that the value to be delivered pursuant to the equity awards granted to our NEOs is dependent on our future stock price. Pursuant to SEC guidance, stock price is not a permissible “Company Selected Measure.” As a result, we do not have a Company Selected Measure to reflect in the table above."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b578", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b579", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b580", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b581", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b583", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b585"], "char_count": 1782, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "852e19055cf10e1876d4b85331153f3c98595417b519433322e61b47de7ad58d", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": 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"sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "“Compensation actually paid,” as calculated per SEC Item 402(v) of Regulation S-K, reflects cash compensation actually paid as well as changes to the fair values of equity awards during the years shown in the table based on year-end or vesting date stock prices, and various accounting valuation assumptions. Due to how CAP is calculated, the CAP as reported for each year does not reflect the actual amounts earned by our NEOs from their equity awards. CAP generally fluctuates annually due to the change in our stock price from year to year as well as varying levels of actual achievement of performance goals.\n\nBecause CAP does not reflect the actual amount earned by our NEOs on their equity compensation, we do not use this measure for understanding how NEO pay aligns with our Company performance. For a discussion of how our Compensation Committee assessed “pay-for-performance” and how our executive compensation program is designed to link executive compensation with the achievement of our financial and strategic objectives as well as stockholder value creation each year, see “Compensation Discussion and Analysis” in this proxy statement and our proxy statements filed in 2021, 2022, and 2023.\n\n54 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 61\n\nAnchor\n\nBelow are graphs showing the relationship of “Compensation Actually Paid” to our PEO and Non-PEO NEOs for our fiscal years 2020, 2021, 2022, and 2023 to (1) TSR of both our common stock and the Nasdaq Real Estate and Other Financial Services Index (assuming $100 was invested in our common stock on December 21, 2020, which was the first day our common stock began trading after the closing of the Business Combination, using the closing stock price on that date) and (2) our net income (loss)."} 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"norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s114", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "(1) Consists of the Opendoor Labs Inc. 2014 Stock Plan (the “2014 Plan”), the Opendoor Technologies Inc. 2020 Incentive Award Plan (the “2020 Plan”) and the Opendoor Technologies Inc. 2020 Employee Stock Purchase Plan (the “ESPP”). (2) Consists of the 2022 Inducement Award Plan (the “Inducement Plan”). (3) Consists of 1,094,168 outstanding restricted stock units under the 2014 Plan and 46,896,299 outstanding restricted stock units under the 2020 Plan. (4) Consists of 7,772,697 outstanding options to purchase stock under the 2014 Plan and 46,875 outstanding options under the 2020 Plan. (5) Consists of 12,905,561 outstanding restricted stock units under the Inducement Plan. (6) As of December 31, 2023, the weighted-average exercise price of outstanding options under the 2014 Plan was $2.3660 and the weighted-average exercise price of outstanding options under the 2020 Plan was $15.0000. (7) No additional awards will be granted under the 2014 Plan and, as a result, no shares remain available for issuance for new awards under the 2014 Plan. 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A description of the principal features of the Inducement Plan is set forth below."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b598", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b599", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b600", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b602"], "char_count": 710, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ff9cead89a5f528227a745a92381315a432e7eea758a448b14cfbaaa0dc6bf25", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 598, "char_end": 630, "char_start": 0, "fragment_sha256": "9222b673d451b326bcc3d31b77c1375d558a4414c53a2dc3e154fffc34f9651b", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 599, "char_end": 57, "char_start": 0, "fragment_sha256": "5840a8301c511e94b5d65242138c656de24da3e7e2eda2455b8c2699d4511f3d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 600, "char_end": 11, "char_start": 0, "fragment_sha256": "9379492d32396243417873f09da7ab36965e4a73274c811b9ad38140e9b07256", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 602, "char_end": 6, "char_start": 0, "fragment_sha256": "387a3a0b0bb053443dfb95c07ab06f154828077185571e20b68253cd6bcd0cf1", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p190", "passage_kind": "narrative", "passage_sequence": 190, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s116", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Only certain prospective employees of the Company are eligible to participate in the Inducement Plan. The Inducement Plan is administered by our Compensation Committee. The plan administrator has the authority to grant and set the terms of all awards under, make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of, the Inducement Plan, subject to its express terms and conditions. Awards must be approved by the Compensation Committee or a majority of our independent directors and the authority to grant awards under the Inducement Plan may not be delegated.\n\n56 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 63\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b605"], "char_count": 1408, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "af9ca39d0650b35dbaa53517c5f579361790e05dd531c74793a6ab08e490402a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 605, "char_end": 1408, "char_start": 0, "fragment_sha256": "e6f452b3a57ceea699bc9c8285248c1b266583a392cd751a3357dbc19f3ac5f2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorShares Available for Awards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p191", "passage_kind": "narrative", "passage_sequence": 191, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s117", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The maximum number of shares of common stock authorized for issuance under the Inducement Plan is 31,200,000 shares (the “Inducement Plan Share Limit”). Shares issued under the Inducement Plan may be treasury shares or authorized but unissued shares. The following types of shares are added back to the available share limit under the Inducement Plan: (1) shares subject to awards that are forfeited, expire or are settled for cash; and (2) shares repurchased by the Company at the same price paid by a participant pursuant to the Company’s repurchase right with respect to restricted stock awards. However, the following types of shares are not added back to the available share limit under the Inducement Plan: (a) shares subject to a stock appreciation right (“SAR”) that are not issued in connection with the stock settlement of the SAR on its exercise; (b) shares purchased on the open market with the cash proceeds from the exercise of options; and (c) shares tendered or withheld to satisfy grant or exercise price or tax withholding obligations associated with an award. Awards granted under the Inducement Plan upon the assumption of, or in substitution for, awards authorized or outstanding under a qualifying equity plan maintained by an entity with which the Company enters into a merger or similar corporate transaction, will not reduce the shares authorized for grant under the Inducement Plan."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b607"], "char_count": 3368, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0067cb66fe62e601da836628d48c8ad120c8f70ebf32b3ac79176c19e3175f91", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 607, "char_end": 3368, "char_start": 0, "fragment_sha256": "4bf8c1d3e8eca7304649b0af381e6846f6f9e539a062ba8e68ab50536ec52176", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p192", "passage_kind": "narrative", "passage_sequence": 192, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s118", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Inducement Plan provides for the grant of stock options, including nonqualified stock options, SARs, restricted stock, dividend equivalents, restricted stock units (“RSUs”) and other stock or cash based awards. Certain awards under the Inducement Plan may constitute or provide for payment of “nonqualified deferred compensation” under Section 409A of the Code, which may impose additional requirements on the terms and conditions of such awards. All awards under the Inducement Plan will be evidenced by award agreements, which will detail the terms and conditions of awards, including any applicable vesting and payment terms and post-termination exercise limitations. Awards other than cash awards generally will be settled in shares of our common stock, but the applicable award agreement may provide for cash settlement of any award. A brief description of each award type follows. • Stock Options and SARs. Stock options provide for the purchase of shares of our common stock in the future at an exercise price set on the grant date. SARs entitle their holder, upon exercise, to receive from us an amount equal to the appreciation of the shares subject to the award between the grant date and the exercise date. The exercise price of a stock option or SAR may not be less than 100% of the fair market value of the underlying share on the grant date (or 110% in the case of ISOs granted to certain significant stockholders), except with respect to certain substitute awards granted in connection with a corporate transaction. The term of a stock option or SAR may not be longer than ten years (or five years in the case of ISOs granted to certain significant stockholders). • Restricted Stock. Restricted stock is an award of nontransferable shares of our common stock that are subject to certain vesting conditions and other restrictions. • RSUs. RSUs are contractual promises to deliver shares of our common stock in the future or an equivalent in cash and other consideration determined by the plan administrator, which may also remain forfeitable unless and until specified conditions are met and may be accompanied by the right to receive the equivalent value of dividends paid on shares of common stock prior to the delivery of the underlying shares (i.e., dividend equivalent rights). The plan administrator may provide that the delivery of the shares (or payment in cash) underlying RSUs will be deferred on a mandatory basis or at the election of the participant. The terms and conditions applicable to RSUs will be determined by the plan administrator, subject to the conditions and limitations contained in the Inducement Plan. • Other Stock or Cash Based Awards. Other stock or cash based awards are awards of cash, fully vested shares of our common stock and other awards valued wholly or partially by referring to, or otherwise based on, shares of our common stock. Other stock or cash based awards may be granted to participants and may also be available as a payment form in the settlement of other awards, as standalone payments and as payment in lieu of compensation to which a participant is otherwise entitled. • Dividend Equivalents. Dividend equivalents represent the right to receive the equivalent value of dividends paid on shares of our common stock and may be granted alone or in tandem with awards other than stock options or SARs."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b608", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b609", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b611", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b613"], "char_count": 3804, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "434273e6dbd15509ba44cddc5dd7302fad16d38aa585790dda1ef52e61db6654", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 608, "char_end": 57, "char_start": 0, "fragment_sha256": "c60f8855b9a1cc8a240dd0ab692d1db6889c2781899a8059a6a212cb28b2767c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 609, "char_end": 11, "char_start": 0, "fragment_sha256": "7c39e7c726240579b1ea5793da6d991aa1ea1df960ac4aa9ebc87b76a6bb9f36", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 611, "char_end": 6, "char_start": 0, "fragment_sha256": "e3be6da11e1cb7a40a4633a13c2c9312afa9f94b909f964673bebbdfdd681a73", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 613, "char_end": 3724, "char_start": 0, "fragment_sha256": "7b2103a3ff4d7e3295ca7de921ac0181c178f3f25b0717c7753156514441a2ae", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p193", "passage_kind": "narrative", "passage_sequence": 193, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s118", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 57\n\nEnd Page 64\n\nAnchor\n\nDividend equivalents are credited as of the dividend record dates during the period between the date an award is granted and the date such award vests, is exercised, is distributed or expires, as determined by the plan administrator. AnchorCertain Transactions The plan administrator has broad discretion to take action under the Inducement Plan, as well as make adjustments to the terms and conditions of existing and future awards, to prevent the dilution or enlargement of intended benefits and facilitate necessary or desirable changes in the event of certain transactions and events affecting our common stock, such as stock dividends, stock splits, mergers, acquisitions, consolidations and other corporate transactions. In addition, in the event of certain non-reciprocal transactions with our stockholders known as “equity restructurings,” the plan administrator will make equitable adjustments to the Inducement Plan and outstanding awards. In the event of a change in control (as defined in the Inducement Plan), to the extent that the surviving entity declines to continue, convert, assume or replace outstanding awards, then all such awards will become fully vested and exercisable in connection with the transaction. AnchorNo Repricing Except in connection with certain changes in our capital structure, stockholder approval will be required for any amendment that reduces the exercise price of any stock option or SAR, or cancels any stock option or SAR in exchange for cash, other awards or stock options or SARs with an exercise price per share that is less than the exercise price per share of the original stock options or SARs. AnchorForeign Participants, Claw-Back Provisions, Transferability and Participant Payments The plan administrator may modify award terms, establish subplans and/or adjust other terms and conditions of awards, subject to the share limits described above, in order to facilitate grants of awards subject to the laws and/or stock exchange rules of countries outside of the United States. All awards will be subject to any company claw-back policy as set forth in such claw-back policy or the applicable award agreement. Awards under the Inducement Plan are generally non-transferrable, except by will or the laws of descent and distribution, or, subject to the plan administrator’s consent, pursuant to a domestic relations order, and are generally exercisable only by the participant. With regard to tax withholding, exercise price and purchase price obligations arising in connection with awards under the Inducement Plan, the plan administrator may, in its discretion, accept cash or check, shares of our common stock that meet specified conditions, a “market sell order” or such other consideration as it deems suitable. AnchorStockholder Approval; Plan Amendment and Termination Pursuant to applicable stock exchange rules, stockholder approval of the Inducement Plan was not required as a condition of the effectiveness of the Inducement Plan. Our Board may amend or terminate the Inducement Plan at any time; however, no amendment, other than an amendment that increases the number of shares available under the Inducement Plan, may materially and adversely affect an award outstanding under the Inducement Plan without the consent of the affected participant, and stockholder approval will be obtained for any amendment to the extent necessary to comply with applicable laws. The Inducement Plan will remain in effect until the tenth anniversary of the date the Compensation Committee adopted the Inducement Plan, unless earlier terminated. No awards may be granted under the Inducement Plan after its termination. 58 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b614", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b616"], "char_count": 19, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "fe67da5f6f8ca94ff2311358ae469d4dd197e2c0e884bb883d78b6afbe8132cd", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": ["short_passage"], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 614, "char_end": 11, "char_start": 0, "fragment_sha256": "9500c48e314d94f7e2446212a24b9eef3dc5cfb13b4e0e6b915bde90e49d5f67", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 616, "char_end": 6, "char_start": 0, "fragment_sha256": "2a050ade49349da1b7e1570e63bb0fb996562e21ff5739d7bd88cd180e7d2f62", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorEligibility and Administration", "AnchorAwards"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p194", "passage_kind": "narrative", "passage_sequence": 194, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s118", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "End Page 65\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b619"], "char_count": 1055, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "251cd64e22a619f1741389e666c31dea6794d1f99f0367f0e9baf38d51777719", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 619, "char_end": 1055, "char_start": 0, "fragment_sha256": "afce2643296fa71526039d8ec1a98e8fd25e02b20552a696f5f702a4446cc40e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p195", "passage_kind": "narrative", "passage_sequence": 195, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The following table sets forth information regarding the beneficial ownership of our common stock as of March 27, 2024, by: • each person, or group of affiliated persons, known to us to be the beneficial owner of more than 5% of our voting shares; • each of our named executive officers and directors; and • all of our current executive officers and directors as a group. Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days of March 27, 2024. Percentage ownership of our voting securities is based on 688,553,971 shares of our common stock that were issued and outstanding as of March 27, 2024. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to the voting securities beneficially owned by them."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b620"], "char_count": 1242, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "2fb399f0601cbee30467ff4d31d4f94eef3dcbb01eb3ef2c712ebe411baacfec", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF 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"sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b620", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Name and Address of Beneficial Owner(1) | ​ | ​ | Total Number of Shares Beneficially Owned | ​ | ​ | Percentage of Common Stock Beneficially Owned |\n| 5% Holders | ​ | ​ | | ​ | ​ | |\n| The Vanguard Group(2) | ​ | ​ | 86,258,094 | ​ | ​ | 12.53% |\n| AI LiquidRE LLC(3) | ​ | ​ | 53,598,914 | ​ | ​ | 7.78% |\n| BlackRock, Inc.(4) | ​ | ​ | 50,672,097 | ​ | ​ | 7.36% |\n| Directors and Named Executive Officers | ​ | ​ | | ​ | ​ | |\n| Carrie Wheeler | ​ | ​ | 4,934,566 | ​ | ​ | * |\n| Christina Schwartz(5) | ​ | ​ | 435,533 | ​ | ​ | * |\n| Megan Meyer Toolson(6) | ​ | ​ | 2,352,313 | ​ | ​ | * |\n| Sydney Schaub | ​ | ​ | ​313,593 | ​ | ​ | * |\n| Daniel Morillo(7) | ​ | ​ | 190,044 | ​ | ​ | * |\n| Adam Bain(8) | ​ | ​ | 2,889,970 | ​ | ​ | * |\n| Dana Hamilton(9) | ​ | ​ | 4,281 | ​ | ​ | * |\n| Cipora Herman(10) | ​ | ​ | 211,957 | ​ | ​ | * |\n| Pueo Keffer(11) | ​ | ​ | 475,115 | ​ | ​ | * |\n| Jason Kilar(12) | ​ | ​ | 172,516 | ​ | ​ | * |\n| John Rice(13) | ​ | ​ | 113,256 | ​ | ​ | * |\n| Glenn Solomon(14) | ​ | ​ | 13,095,437 | ​ | ​ | 1.90% |\n| All current directors and executive officers as a group (11 persons)(15) | ​ | ​ | 24,998,537 | ​ | ​ | 3.63% |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b621"], "char_count": 1659, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "ec7d6b0de68e222b94e82505d261ffcc1ffec90208ba8ed073077de47cf06a8a", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 621, "char_end": 1659, "char_start": 0, "fragment_sha256": "dba956560b542221d5d86b6204b4a9bc4686abab2dbc9974bcb8854b9a665f11", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": 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(1) Unless otherwise noted, the business address of each of those listed in the table above is 410 N. Scottsdale Road, Suite 1600, Tempe Arizona 85288. (2) Based solely on a Schedule 13G/A filed with the SEC on February 13, 2024 by the Vanguard Group. The Vanguard Group has (i) shared voting power over 412,051 shares of common stock, (ii) sole dispositive power over 85,258,732 shares of common stock, and (iii) shared dispositive power over 999,362 shares of common stock. The address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (3) Based solely on a Schedule 13D/A filed with the SEC on October 6, 2021, by Access Industries Management, LLC (“AIM”), AI LiquidRE LLC (“AIL”), LBIT 2002 LLC (“LBIT”) and Len Blavatnik (collectively, the “Reporting Persons,” and each, a “Reporting Person”). Consists of (i) 53,524,812 shares of common stock held directly by AIL and (ii) 74,102 shares of common stock held directly by LBIT and, in each case, may be deemed to be beneficially owned by AIM and Len Blavatnik because (a) AIM is the controlling entity of AIL and LBIT, respectively, and (b) Len Blavatnik controls AIM and LBIT and holds a majority of the outstanding voting interests in AIL. Each of the Reporting Persons (other than AIL, with respect to shares held directly by AIL, and LBIT, with respect to shares held directly by LBIT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities. The address of each of the Reporting Persons is 40 West 57th St., 28th Floor, New York, New York 10019."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b622", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b623", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b625", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b627"], "char_count": 3740, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "1fec2ace3f48de840c4414289083378709f0b7f00bdf8d525dc411020bede5e2", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 622, "char_end": 57, "char_start": 0, "fragment_sha256": "11a2122023596e4356435eac22f945cd2613818f14544daba5f6819fa1c159b2", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 623, "char_end": 11, "char_start": 0, "fragment_sha256": "bf45cfdd2c1c9459d1e9e3d9ed87a20ae2dc52b5041d2d5de440f2d4c59d1048", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 625, "char_end": 6, "char_start": 0, "fragment_sha256": "7eaeef9e3d2b98d40cb323044222c213e1cb971b8c35670ab1e678316d793a63", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 627, "char_end": 3660, "char_start": 0, "fragment_sha256": "9dde893c9e9531e71b20b15b7819b7b4b7d25e1076951eaa171df90c11d018db", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p198", "passage_kind": "narrative", "passage_sequence": 198, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 59\n\nEnd Page 66\n\nAnchor\n\n(4) Based solely on a Schedule 13G filed with the SEC on January 26, 2024 by BlackRock, Inc. BlackRock Inc. has (i) sole voting power over 49,249,557 shares of common stock, and (ii) sole dispositive power over 50,672,097 shares of common stock. The address for BlackRock, Inc. is 50 Hudson Yards, New York, NY 10001. (5) Includes (i) 352,214 shares of common stock held by Christina Schwartz, (ii) 19,618 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024 and (iii) 63,701 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2024. (6) Includes (i) 1,735,841 shares of common stock held by Megan Meyer Toolson, (ii) 260,912 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024 and (iii) 355,560 shares of common stock issuable upon the exercise of options exercisable as of or within 60 days of Marcy 27, 2024. (7) Mr. Morillo resigned from his position as Chief Investment Officer effective February 21, 2023. (8) Includes (i) 117,238 shares of common stock held by Adam Bain, (ii) 4,460 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024, (iii) 225,000 shares of common stock held by 010118 Management, L.P. (“010118”) and (iv) 2,543,272 shares held by 01 Advisors 01 L.P. (“01 Advisors”). Mr. Bain is a managing member of 010118 and a managing partner of 01 Advisors and may be deemed a beneficial owner of the shares of common stock held by 010118 and 01 Advisors. (9) Includes 4,281 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (10) Includes (i) 206,962 shares of common stock held by Cipora Herman and (ii) 4,995 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (11) Includes (i) 470,298 shares of common stock held by Pueo Keffer and (ii) 4,817 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (12) Includes (i) 148,253 shares of common stock held by Jason Kilar and (ii) 24,263 shares of our common stock issuable upon the exercise of options exercisable as of or within 60 days of March 27, 2024. (13) Includes (i) 107,547 shares of common stock held by John Rice and (ii) 5,709 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024. (14) Includes (i) 10,430 shares of common stock held by Glenn Solomon, (ii) 4,638 shares issuable pursuant to the RSUs that will vest within 60 days of March 27, 2024, (iii) 320,577 shares of common stock held by The Solomon Family Trust, (iv) 5,867,568 shares of common stock held of record by GGV Capital V L.P. (“GGCV”), (v) 6,597,680 shares of common stock held of record by GGV Capital Select L.P. (“GGCS”), (vi) 215,339 shares of common stock held of record by GGV Capital V Entrepreneurs Fund L.P. (“GGCVEF”) and (vii) 79,205 shares of common stock held of record by GGV Capital LLC (“GGVC LLC”). GGV Capital V L.L.C (“GGCV LLC”) is the General Partner of GGCV and GGCVEF. GGV Capital Select L.L.C. (“GGCS LLC”) is the General Partner of GGCS. Mr. Solomon is a managing director of GGCV LLC, GGCS LLC, and GGVC LLC, shares voting and investment power with respect to these shares and, accordingly, may be deemed to beneficially own these shares. (15) Includes (i) 309,430 shares issuable pursuant to outstanding RSUs that will vest within 60 days of March 27, 2024 and (ii) 443,534 shares of common stock issuable upon the exercise of options exercisable as of or within 60 days of Marcy 27, 2024 for all current executive officers and directors."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b628", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b629", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b631"], "char_count": 78, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "028e5eec72eabeb1b7d496fe5f7b008749e00d542ca9e7d0ea8f29045ae8b1fc", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": 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"narrative", "passage_sequence": 199, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "60 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 67\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b633"], "char_count": 3976, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "54da8bac5b6631f9cbb5ccd8a41f48b0bc10659ea162390c483573917cd1c26c", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 633, "char_end": 3976, "char_start": 0, "fragment_sha256": "7167978fdca687032c997e45fbd2839328fa73f82f24ef7b2e8ef82b9593d375", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p200", "passage_kind": "narrative", "passage_sequence": 200, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "AnchorCERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS AnchorPolicies and Procedures for Approval of Related Person Transactions Our Board recognizes the fact that transactions with related persons present a heightened risk of conflicts of interests (or the perception thereof). Our Board has adopted a written “Related Person Transaction Policy,” setting forth the policies and procedures for the review and approval or ratification of related person transactions. For purposes of the Company’s policy only, a “related person transaction” is a transaction, arrangement or relationship (or any series of similar transactions, arrangements or relationships) in which (i) the Company is a participant, (ii) the amount involved exceeds $120,000 and (iii) a “related person” had, has or will have a direct or indirect material interest. Transactions involving compensation for services provided to the Company as an employee, director, consultant or similar capacity by a related person are not covered by this policy. A related person is any executive officer, director, director candidate, or more than 5% stockholder of the Company, including any of their immediate family members, and any entity owned or controlled by such persons. Under the policy, our legal team is primarily responsible for developing and implementing processes and procedures to obtain information with respect to potential related person transactions and then determining, based on the facts and circumstances, whether such potential related person transactions do, in fact, constitute related person transactions requiring compliance with the policy. In addition, any potential related person transaction that is proposed to be entered into by the Company must be reported to the Company’s Chief Legal Officer by both the related person and the person at the Company responsible for such potential related person transaction. If our legal team determines that a transaction or relationship is a related person transaction requiring compliance with the policy, our Chief Legal Officer is required to present to the Audit Committee all relevant facts and circumstances relating to the related person transaction. Our Audit Committee must review the relevant facts and circumstances of each related person transaction, including if the transaction is on terms comparable to those that could be obtained in arm’s length dealings with an unrelated third party and the extent of the related person’s interest in the transaction, take into account the conflicts of interest and corporate opportunity provisions of our Code of Conduct, and either approve or disapprove the related person transaction. Any proposed transaction that has been identified as a related person transaction may be consummated or materially amended only following approval by the Audit Committee in accordance with the provisions of our policy. No director may participate in the approval of a related person transaction for which such director is a related person. In the event that it is inappropriate for the Audit Committee to review the transaction for reasons of conflict of interest or otherwise, after taking into account possible recusals by Audit Committee members, then the related person transaction shall be approved by another independent body of our Board. Any related person transaction, if not a related person transaction when originally consummated, or if not initially identified as a related person transaction prior to consummation, shall be submitted to the Audit Committee for review and ratification as soon as reasonably practicable. The Audit Committee shall consider whether to ratify and continue, amend and ratify or terminate and rescind such related person transaction. Our management will update the Audit Committee as to any material changes to any approved or ratified related person transaction and will provide a status report at least annually of all then-current related person transactions."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b633"], "char_count": 1018, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "0e0e2acc62bfeca38e08bdba5e3491178d8870864162b941b86e282c6ec9e978", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 633, "char_end": 4994, "char_start": 3976, "fragment_sha256": "7167978fdca687032c997e45fbd2839328fa73f82f24ef7b2e8ef82b9593d375", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p201", "passage_kind": "narrative", "passage_sequence": 201, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Other than as listed below, there are no related party transactions entered into since January 1, 2023 requiring disclosure (and other than equity and other compensation, termination, change in control and other arrangements, which are described under the section of this proxy titled “Executive Compensation”). AnchorDirector and Officer Indemnification and Insurance We have entered into indemnification agreements with each of our directors and officers. These agreements, among other things, require us or will require us to indemnify each director (and in certain cases their related venture capital funds) and officer to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys’ fees, judgments, fines and settlement amounts incurred by the director or officer in any action or proceeding, including any action or proceeding by or in right of us, arising out of the person’s services as a director or officer. Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 61"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b634", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b636", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b638"], "char_count": 2054, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "428a6a542dabdece12d5390892c0361349d199bce85d696161c4f92c66b94465", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 634, "char_end": 11, "char_start": 0, "fragment_sha256": "cc18047fafb208e44b461dbddd2d452880ba5d055732927c1ed1eb0963e6e2bd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 636, "char_end": 6, "char_start": 0, "fragment_sha256": "6e587a6a3271df807605108a2c4712d667e3dd1c638b2132245194137e97ca7d", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 638, "char_end": 2033, "char_start": 0, "fragment_sha256": "99f9563f580b5bd146a155683324c3b0081283d5bfe56890411607a45dc24583", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorInducement Award Program", "AnchorSECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p202", "passage_kind": "narrative", "passage_sequence": 202, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s119", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "End Page 68\n\nAnchor\n\nAnchorPROPOSAL 2 — RATIFICATION OF APPOINTMENT BY THE AUDIT COMMITTEE OF DELOITTE & TOUCHE LLP The Audit Committee of our Board has appointed the firm of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024. Although stockholder ratification of the appointment of Deloitte & Touche LLP is not required by law, we value the opinions of our stockholders and believe that stockholder ratification of our appointment is a good corporate governance practice. If our stockholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain Deloitte & Touche LLP. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of different independent auditors for the Company at any time during the year, if they determine that such a change would be in the best interests of the Company and its stockholders. Deloitte & Touche LLP served as our independent registered public accounting firm for the year ended December 31, 2023. Neither Deloitte & Touche LLP nor any of its members has any direct or indirect financial interest in or any connection with us in any capacity other than as our auditors, providing audit and non-audit services. Representatives of Deloitte & Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement, if they desire to do so, and will be available to respond to appropriate questions from our stockholders. In the event that the appointment of Deloitte & Touche LLP is not ratified by the stockholders at the Annual Meeting, our Audit Committee will consider this fact when it appoints the independent auditors for the fiscal year ending December 31, 2025. Even if the selection of Deloitte & Touche LLP is ratified, the Audit Committee retains the discretion to select a different independent registered public accounting firm at any time if it determines that such a change would be in the best interests of the Company."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b640", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b641", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b642", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b644"], "char_count": 289, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a221f02f1ae3166d5e513a23b07181f3ef252b4aeb0d59abcce2ae109350a6ff", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", 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"AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 642, "char_end": 11, "char_start": 0, "fragment_sha256": "8b9c84f336ff95db2a5da4b8b4b36c8c89374e1f2ea627a6da3844f0d1e7ecf8", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 644, "char_end": 6, "char_start": 0, "fragment_sha256": "71c2f1f3ef8c87f65440c901d0754531b6719e7f5d9070ff55b2f563b60e3dcd", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p203", "passage_kind": "narrative", "passage_sequence": 203, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s120", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Board recommends a vote “FOR” the ratification of the appointment by the Audit Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2024.\n\n62 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 69\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b647"], "char_count": 208, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "6faed200f85dee5fd03afe5017632fcfb55fca7c8d0a7cd86128cff4895c6d73", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 647, "char_end": 208, "char_start": 0, "fragment_sha256": "a6cba9c802c5b475b7c289f9c61a035d6b5f069e88cd017f3cdd883696491807", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p204", "passage_kind": "narrative", "passage_sequence": 204, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s121", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The following table summarizes the fees of Deloitte & Touche LLP, our independent registered public accounting firm, billed to Opendoor Technologies Inc. for the fiscal years ended December 31, 2023 and 2022."} +{"artifact_role": "primary", "block_ids": 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"heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "table_index": 36, "tag_name": "table"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p205", "passage_kind": "table", "passage_sequence": 205, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s121", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b648", "text": "| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Fee Category (in thousands) | ​ | ​ | 2023 | ​ | ​ | 2022 |\n| Audit Fees(1) | ​ | ​ | $2,952 | ​ | ​ | $3,034 |\n| Audit-Related Fees(2) | ​ | ​ | ​20 | ​ | ​ | 226 |\n| Tax Fees(3) | ​ | ​ | 421 | ​ | ​ | 375 |\n| All Other Fees(4) | ​ | ​ | 42 | ​ | ​ | — |\n| Total Fees | ​ | ​ | $3,435 | ​ | ​ | $3,635 |"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b649"], "char_count": 950, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9649b278964fb213172e979bedcb15a214bd49fd01215a8086d4a1da02a8063c", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 649, "char_end": 950, "char_start": 0, "fragment_sha256": "02ea16323820b71835c2fcda1d30976ebbdb2a82f48b6cc25d2f2b801cc95d39", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorPrincipal Accountant Fees and Services"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p206", "passage_kind": "narrative", "passage_sequence": 206, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s121", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "(1) Audit fees consist of fees for professional services rendered in connection with the annual audits of our consolidated financial statements, the review of our interim condensed consolidated financial statements included in our Quarterly Reports, consultations on accounting matters directly related to the audit, and audits in connection with statutory, regulatory, and contractual requirements. (2) Audit-related fees consist of fees for professional services rendered in connection with (1) the submission of various registration statements, and (2) agreed upon procedures related to certain compliance audits. (3) Tax fees consist of fees billed for services rendered for tax compliance, tax advice and tax planning. (4) All other fees consist of fees for all other services not included in the categories set forth above. All of the services of Deloitte & Touche LLP for 2023 and 2022 described above were pre-approved by the Audit Committee."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b651"], "char_count": 1294, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9b6e4885cbe76bf52adcaa46da9d5c879a348c56499671ef2e1d280ae6bb65b3", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorAudit Committee Pre-Approval Policy and Procedures"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 651, "char_end": 1294, "char_start": 0, "fragment_sha256": "834d04501368cb37bfdb6654a14f488b49b2b6643c376da69b42d50ed36b8956", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorAudit Committee Pre-Approval Policy and Procedures"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p207", "passage_kind": "narrative", "passage_sequence": 207, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s122", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Audit Committee has adopted a pre-approval policy (the “Pre-Approval Policy”) that sets forth the procedures and conditions pursuant to which audit and non-audit services proposed to be performed by the independent auditor may be pre-approved. The Pre-Approval Policy generally provides that we will not engage Deloitte & Touche LLP to render any audit, audit-related, tax or permissible non-audit service unless the service is either (i)explicitly approved by the Audit Committee on a case-by-case basis (“specific pre-approval”) or (ii)pre-approved on a collective basis pursuant to the Pre-Approval Policy entered into pursuant to the pre-approval policies and procedures described in the Pre-Approval Policy (“collective pre-approval”). Unless a type of service to be provided by Deloitte & Touche LLP has received collective pre-approval, it requires specific pre-approval by the Audit Committee or by a designated member of the Audit Committee to whom the committee has delegated the authority to grant pre-approvals. Any proposed services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval. For both types of pre-approval, the Audit Committee will consider whether such services are consistent with the SEC’s rules on auditor independence."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b653"], "char_count": 1871, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "08a995a63a4be64e56b4b9ee532ecd616f8edab1e4ea9508972e3f0c9233da40", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 653, "char_end": 1871, "char_start": 0, "fragment_sha256": "94082130c7c680d1872a96d207e8ea8cc0faabcc386bad6211752d22736123d3", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p208", "passage_kind": "narrative", "passage_sequence": 208, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s123", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "The Audit Committee has reviewed the audited consolidated financial statements of Opendoor Technologies Inc. (the “Company”) for the fiscal year ended December 31, 2023 and has discussed these financial statements with management and the Company’s independent registered public accounting firm. The Audit Committee has also received from, and discussed with, the Company’s independent registered public accounting firm various communications that such independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (“PCAOB”) and the Securities and Exchange Commission. The Company’s independent registered public accounting firm also provided the Audit Committee with a formal written statement required by PCAOB Rule 3526 (Communications with Audit Committees Concerning Independence) describing all relationships between the independent registered public accounting firm and the Company, including the disclosures required by the applicable requirements of the PCAOB regarding the independent registered public accounting firm’s communications with the Audit Committee concerning independence. In addition, the Audit Committee discussed with the independent registered public accounting firm its independence from the Company. Based on its discussions with management and the independent registered public accounting firm, and its review of the representations and information provided by management and the independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements be included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Cipora Herman (Chair) Dana Hamilton Pueo Keffer"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b654", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b655", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b657", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b659"], "char_count": 2011, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "7da140646ad101a018897f5021cd6a5672ee208ec860bd525a820d384b6da794", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 654, "char_end": 57, "char_start": 0, "fragment_sha256": "58bd7683d20fc576635be5e31c8e94306b1567fc7f6b00cffe80992780381f3f", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 655, "char_end": 11, "char_start": 0, "fragment_sha256": "f0a033b1d50e43162142795412a6cde2f096557e69e8d82f4a4ac7c545b98e3c", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 657, "char_end": 6, "char_start": 0, "fragment_sha256": "6692d7766b36b207e4d288247aad67aabe9b72aefd1362f2a7c309027fbb0998", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "a"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 659, "char_end": 1931, "char_start": 0, "fragment_sha256": "c04010daee185406189a14c7fff89a1322f25dd1209ab0da392b0f6508362035", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "AnchorReport of the Audit Committee"], "table_index": null, "tag_name": "div"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p209", "passage_kind": "narrative", "passage_sequence": 209, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s123", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Opendoor Technologies Inc. // 2024 Proxy Statement ​ ​ 63\n\nEnd Page 70\n\nAnchor\n\nAnchorPROPOSAL 3 — APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS AnchorBackground As required by Section 14A(a)(1) of the Exchange Act, the below resolution enables our stockholders to vote to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement. This proposal, commonly known as a “Say-on-Pay Vote,” gives our stockholders the opportunity to express their views on our named executive officers’ compensation. The Say-on-Pay Vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement. We encourage our stockholders to review the “Executive Compensation” section of this proxy statement for more information. As an advisory approval, this proposal is not binding upon us or our Board. However, the Compensation Committee, which is responsible for the design and administration of our executive compensation program, values the opinions of our stockholders expressed through your vote on this proposal. The Board and Compensation Committee will consider the outcome of this vote in making future compensation decisions for our named executive officers. The next Say-on-Pay Vote will occur at our 2025 Annual Meeting of Stockholders (“2025 Annual Meeting”). Accordingly, we ask our stockholders to vote “FOR” the following resolution at the Annual Meeting: “RESOLVED, that the stockholders of Opendoor Technologies Inc. approve, on an advisory (non-binding) basis, the 2023 compensation of Opendoor Technologies Inc.’s named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in Opendoor Technologies Inc.’s proxy statement for the 2024 Annual Meeting of Stockholders.”"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b661", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b662", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b663", "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b665"], "char_count": 381, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "a9dbcabfa5078c1740fb4d7eb79b741f2438cdc371cbc1df7ca20c98509f8a7d", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 661, "char_end": 301, "char_start": 0, "fragment_sha256": "1de2f77b810d6309879bc7191edcd940fc1ed3898f7e458a46e47547f01c049e", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 662, "char_end": 57, "char_start": 0, "fragment_sha256": "aa2f8636471892976e66b57dd427a712b6b67f9f9e1ced92473141ae71f2f6b7", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "div"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 663, "char_end": 11, "char_start": 0, "fragment_sha256": "329c43d64470b8793d5fdb5c08ea05dcab07fa4af3afb8a088b79c257f7303b9", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "span"}, {"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 665, "char_end": 6, "char_start": 0, "fragment_sha256": "15d7966a858f5da8098624500d9d436b4289de2877c2aed408b1511cf2f0aeed", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "a"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p210", "passage_kind": "narrative", "passage_sequence": 210, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s124", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "Our Board unanimously recommends a vote “FOR” the resolution to approve, on an advisory (non-binding) basis, the 2023 compensation of our named executive officers as described in the Summary Compensation Table and related compensation tables and narrative disclosure set forth in this proxy statement.\n\n64 ​ ​ Opendoor Technologies Inc. // 2024 Proxy Statement\n\nEnd Page 71\n\nAnchor"} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b667"], "char_count": 3999, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "9edc71cf038f0d9479b9459974786749d2bd821b6fdbaa94a3b6ac136e378012", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 667, "char_end": 3999, "char_start": 0, "fragment_sha256": "c2eba54f4baf3abfc15f936aea2f9533f6481b7169b28d091fb0b5b61648c3d5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p211", "passage_kind": "narrative", "passage_sequence": 211, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s124", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "AnchorADDITIONAL INFORMATION AnchorStockholder Proposals and Director Nominations Stockholders who intend to have a proposal considered for inclusion in our proxy materials for presentation at our 2025 Annual Meeting pursuant to Rule 14a-8 under the Exchange Act must submit the proposal to us at our principal executive offices, 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288. Any proposal submitted pursuant to Rule 14a-8 must be received by us no later than December 25, 2024. We suggest that proponents submit their Rule 14a-8 proposals by certified mail, return receipt requested, addressed to our Secretary, Sydney Schaub. In addition, our Bylaws establish an advance notice procedure with regard to director nominations and other proposals by stockholders that are not intended to be included in our proxy materials, but that a stockholder instead wishes to present directly at an annual meeting. To be properly brought before the 2025 Annual Meeting, a notice of the nomination or the matter the stockholder wishes to present at the meeting must be in writing and delivered to or mailed and received by our Secretary at our principal executive offices not later than March 16, 2025 and not before February 14, 2025, provided, however, that if the date of the 2025 Annual Meeting is more than 30 days before, or more than 60 days after, the one-year anniversary of this year's Annual Meeting, notice by the stockholder to be timely must be so delivered or received, not more than the 120th day prior to such 2025 Annual Meeting date and not later than (i) the 90th day prior to such 2025 Annual Meeting date or, (ii) if later, the 10th day following the day on which public disclosure of the date of the 2025 Annual Meeting was first made by us. Our Bylaws also specify requirements relating to the content of the notice that stockholders must provide in order for a director nomination or other proposal to be properly presented at the 2025 Annual Meeting. In addition to satisfying the foregoing requirements under our Bylaws, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than the Company’s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act no later than the dates specified above. AnchorHouseholding of Annual Meeting Materials Under the rules adopted by the SEC, we may deliver a single set of proxy materials to one address shared by two or more of our stockholders. This delivery method is referred to as “householding” and can result in significant cost savings. To take advantage of this opportunity, we have delivered only one set of proxy materials to multiple stockholders who share an address, unless we received contrary instructions from the impacted stockholders prior to the mailing date. We agree to deliver promptly, upon written or oral request, a separate copy of the proxy materials, as requested, to any stockholder at the shared address to which a single copy of these documents was delivered. If you prefer to receive separate copies of this proxy statement or our 2023 Annual Report, contact Broadridge Financial Solutions, Inc. by calling 1-866-540-7095 or in writing at 51 Mercedes Way, Edgewood, New York 11717, Attention: Householding Department. In addition, if you currently are a stockholder who shares an address with another stockholder and would like to receive only one copy of future notices and proxy materials for your household, you may notify your broker if your shares are held in a brokerage account or you may notify us if you hold registered shares. Registered stockholders may notify us by contacting Broadridge Financial Solutions, Inc. at the above telephone number or address. AnchorOther Matters Our Board is not aware of any matter to be presented for action at the Annual Meeting other than the matters referred to above and does not intend to bring any other matters before the Annual Meeting."} +{"artifact_role": "primary", "block_ids": ["norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#b667"], "char_count": 433, "cik10": "0001801169", "company_name": "Opendoor Technologies Inc.", "content_sha256": "80ebbf5955f7dcee9291ed8a24084f31ea9c41e771d2905eec648d2b80b3dd56", "derivation_id": "64eeaa03310ad5fb8feed5f7268abe5d36b305e609a18bcc106a6edb7ea0e346", "document_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "document_type": "narrative_primary", "exhibit_type": "DEF 14A", "filing_date": "2024-04-24", "filing_id": "sec:0001801169:0001140361-24-021743", "flags": [], "form": "DEF 14A", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "items": [], "locators": [{"artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "block_sequence": 667, "char_end": 4432, "char_start": 3999, "fragment_sha256": "c2eba54f4baf3abfc15f936aea2f9533f6481b7169b28d091fb0b5b61648c3d5", "heading_path": ["OPENDOOR TECHNOLOGIES INC.", "viewing and downloading at www.proxyvote.com.", "AnchorProposals", "Board Recommendation"], "table_index": null, "tag_name": "sec-parser-merged-text"}], "normalizer_version": "1.0.0", "parser_name": "sec_html", "parser_version": "0.58.1", "passage_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#p212", "passage_kind": "narrative", "passage_sequence": 212, "passage_strategy_name": "section_aware", "passage_strategy_version": "1.0.0", "report_date": "2024-06-14", "section_id": "norm:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm#s124", "source_artifact_id": "sec:0001801169:0001140361-24-021743:ny20018669x1_def14a.htm", "source_url": "https://www.sec.gov/Archives/edgar/data/1801169/000114036124021743/ny20018669x1_def14a.htm", "table_id": null, "text": "However, if other matters should properly come before the Annual Meeting, it is intended that holders of the proxies will vote thereon in their discretion. AnchorSolicitation of Proxies The accompanying proxy is solicited by and on behalf of our Board, whose notice of meeting is attached to this proxy statement, and the entire cost of such solicitation will be borne by us. 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(the \u201cAnnual Meeting\u201d), which will be held on Friday, June 13, 2025, at 9:30 a.m. Pacific Time. The Annual Meeting will be a completely virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OPEN2025. For further information on how to participate in the meeting, please see \u201cGeneral Information About the Annual Meeting & This Proxy Statement\u201d in the accompanying proxy statement. We are also pleased to make our annual report and proxy materials available to stockholders over the internet under the U.S. Securities and Exchange Commission\u2019s (the \u201cSEC\u201d) Notice and Access rules. We believe this electronic delivery option provides our stockholders with information in a more timely, cost-efficient, and environmentally conscious manner versus providing materials in paper form. In 2024, we took decisive steps to simplify our business and sharpen our strategic focus to drive the Company towards sustainable, profitable growth. We also took actions to better align our operations with our current scale and profitability targets, as reflected by the $50 million reduction in our fixed operating expenses year-over-year. In the fourth quarter, we launched a cost-efficiency program alongside a workforce reduction. We are focused on ensuring attractive unit economics in our cash offer business, operating with strong cost discipline, and making progress on our path to profitability, notwithstanding the persistent macro real estate pressures. It is very important that your shares be represented and voted at the Annual Meeting regardless of whether you plan to attend virtually. The accompanying proxy statement contains information about the matters on which you are being asked to vote, as well as specific instructions for voting over the telephone or via the internet, or by submitting your proxy. If you have previously received our Notice of Internet Availability of Proxy Materials, then instructions regarding how you can vote are contained in that notice. You are encouraged to read the materials carefully and vote in accordance with the recommendations of the Board of Directors (the \u201cBoard\u201d). Thank you for your investment in Opendoor. We appreciate your support. Sincerely," + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b22", + "block_sequence": 22, + "block_sha256": "404fa29c548d07818913f8746e1fbf7b27dfa3175a332d01dfe5548de01274d3", + "block_type": "paragraph", + "char_count": 74, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 22, + "char_end": 74, + "char_start": 0, + "fragment_sha256": "5a7f5ae128c8b62a0179ef018909222e99d2e5af9160c743be9060574241c5ed", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "OPENDOOR TECHNOLOGIES INC.", + "Tempe, Arizona 85288", + "AnchorLETTER TO STOCKHOLDERS FROM THE CHIEF EXECUTIVE OFFICER" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s11", + "table": null, + "text": "Carrie Wheeler Chief Executive Officer & Chair of the Board April 25, 2025" + }, + { + "block_id": 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LETTER TO STOCKHOLDERS FROM THE CHIEF EXECUTIVE OFFICER i II. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS iv III. NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS v IV. PROXY STATEMENT SUMMARY 1 Proposals and Board Recommendations 1 Our Board of Directors 2 Corporate Governance Highlights 3 Executive Compensation Highlights 4 Stockholder Engagement 4 Business Combination 5 V. GENERAL INFORMATION ABOUT THE ANNUAL MEETING & THIS PROXY STATEMENT 6 Proposals 7 Recommendations of the Board 7 Frequently Asked Questions About the Annual Meeting of Stockholders 7 VI. PROPOSAL 1 \u2013 ELECTION OF DIRECTORS 13 Our Board of Directors 13 Director Biographies 14 Board Composition 17 VII. CORPORATE GOVERNANCE 18 Corporate Governance Highlights 18 Director Independence 19 Board Leadership Structure 19 Board\u2019s Role in Risk Oversight 19 Board Meetings, Continued Education and Succession Planning 20 Stockholder Recommendations of Director Candidates 21 Stockholder Engagement 21 Communications from Stockholders 22 Stock Ownership Guidelines 22 Corporate Governance Documents & Policies 22 Insider Trading Policy 22 Board Committees 24 VIII. OUR EXECUTIVE OFFICERS 27 IX. EXECUTIVE COMPENSATION 28 Compensation Discussion and Analysis 28 Compensation-Setting Process 32 Compensation Elements 36 Employment Offer Letters 41 Post-Employment Compensation 42 Hedging and Pledging of Securities 43 Stock Ownership Guidelines 44 Clawbacks 44 Equity Grant Policies and Practices 44 Tax and Accounting Considerations 44 Compensation Committee Report 45" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b33", + "block_sequence": 33, + "block_sha256": "232363e3a17f51937449b625a7b75dd960a9c9829c52baa12ecc4fd3299bfc05", + "block_type": "paragraph", + "char_count": 10, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 33, + "char_end": 10, + "char_start": 0, + "fragment_sha256": "d055ffdfe73aa44bdf8bcdb2f33265838534bbba6226307845509fd5349e3caf", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "OPENDOOR TECHNOLOGIES INC.", + "Tempe, 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Insider Participation 51 Non-Employee Director Compensation 51 2024 Director Compensation Table 52 CEO Pay Ratio 54 Pay Versus Performance 55 X. \u200bEQUITY COMPENSATION PLAN INFORMATION 60 Inducement Award Plan 60 XI. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 63 XII. CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 65 Policies and Procedures for Approval of Related Person Transactions 65 Director and Officer Indemnification and Insurance 65 XIII. PROPOSAL 2 \u2013 RATIFICATION OF APPOINTMENT BY THE AUDIT AND RISK COMMITTEE OF DELOITTE & TOUCHE LLP 66 Principal Accountant Fees and Services 67 Audit and Risk Committee Pre-Approval Policy and Procedures 67 Report of the Audit and Risk Committee 67 XIV. PROPOSAL 3 \u2013 APPROVAL, ON AN ADVISORY (NON-BINDING) BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS 68 XV. ADDITIONAL INFORMATION 69 Stockholder Proposals and Director Nominations 69 Householding of Annual Meeting Materials 69 Other Matters 69 Solicitation of Proxies 69 2024 Annual Report 70 Annex A \u200bA-1" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b38", + "block_sequence": 38, + "block_sha256": "0d68464bc60438254abbf11a12df38a6db07dc8fa05922e884feec30513430ca", + "block_type": "paragraph", + "char_count": 2144, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 38, + "char_end": 2144, + "char_start": 0, + "fragment_sha256": "54e614cea441a522b1b0039607c0f9fe869a67257beac155834ab760f7563d39", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "OPENDOOR TECHNOLOGIES INC.", + "Tempe, Arizona 85288", + "TABLE OF CONTENTS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s15", + "table": null, + "text": "End Page 4 Anchor TABLE OF CONTENTS AnchorSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This proxy statement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Statements containing words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201cfuture,\u201d \u201cguidance,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201cstrategy,\u201d \u201cstrive,\u201d \u201ctarget,\u201d \u201cvision,\u201d \u201cwill,\u201d or \u201cwould,\u201d any negative of these words or other similar terms or expressions may identify forward-looking statements. The absence of these words does not mean that a statement is not forward-looking. All statements contained in this proxy statement that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding future company performance; our key priorities, including our path to profitability; our ability to meaningfully improve adjusted net income (\u201cANI\u201d) losses in 2025; whether we are successful in implementing our cost reduction initiatives; macro real estate pressures; future performance-based compensation arrangements; and future executive at-risk and not at-risk compensation mix. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. Differences in our actual results from those described in these forward-looking statements may result from actions taken by us as well as from risks and uncertainties beyond our control. For more information about potential factors that could affect our business and financial results, please review the \u201cRisk Factors\u201d described in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC and in our other filings with the SEC. Except as may be required by law, we do not intend, and undertake no duty, to update this information to reflect future events or circumstances. 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To ensure that a quorum is present at the annual meeting, please vote your shares over the internet or by telephone, or, if you received a copy of the proxy card by mail, you may sign, date and mail the proxy card in the enclosed envelope, whether or not you expect to attend the annual meeting. We encourage stockholders to submit their proxy via telephone or online. If you decide to attend the annual meeting, you will be able to vote electronically using your 16-digit control number, even if you have previously submitted your proxy." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b56", + "block_sequence": 56, + "block_sha256": "9164f88a576646c5b2ce670b758d3e3df1a494d37aee6c0f424f6e17c7891e26", + "block_type": "paragraph", + "char_count": 1272, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 56, + "char_end": 1272, + "char_start": 0, + "fragment_sha256": "2009b799b4677150a19af8b3dbd252b0ff39e7eea51e257f65738f001563da69", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2025" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s24", + "table": null, + "text": "To Our Stockholders: NOTICE IS HEREBY GIVEN that the 2025 Annual Meeting of Stockholders (the \u201cAnnual Meeting\u201d) of Opendoor Technologies Inc. (the \u201cCompany\u201d or \u201cOpendoor\u201d) will be held on Friday, June 13, 2025, at 9:30 a.m. Pacific Time. The Annual Meeting will be a virtual meeting conducted via live audio webcast. You will be able to attend the Annual Meeting online and submit your questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/OPEN2025 and entering your 16-digit control number included in this Notice of Internet Availability of Proxy Materials (this \u201cInternet Notice\u201d), your proxy card or the instructions that accompanied your proxy materials. You will not be able to attend the Annual Meeting physically. If you wish to attend the Annual Meeting, detailed instructions are provided under \u201cHow do I attend this year\u2019s Annual Meeting?\u201d on page 9 of the accompanying proxy statement. We have also provided information regarding how stockholders can engage during the Annual Meeting, including how they can vote, ask questions, request technical support and access information following the Annual Meeting within the accompanying proxy statement. At the Annual Meeting, stockholders will consider and vote on the following matters:" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b57", + "block_sequence": 57, + "block_sha256": "d964362e2d009c50dbf2985b63045b3b5ecfb21ae2fcb2182d10c2432440e603", + "block_type": "image", + "char_count": 529, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 57, + "char_end": 529, + "char_start": 0, + "fragment_sha256": "fe599f81bdbadbb4b9642104e6f122a66bfe6531c3caba907f0f6e8ada2faf74", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "Location:", + "OPEN2025" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s24", + "table": null, + "text": "MATTER The election of Adam Bain and Pueo Keffer to hold office as Class II members of the Board of Directors, each to serve until the 2028 Annual Meeting of Stockholders. The ratification of the appointment by the Audit and Risk Committee of the Board of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025. 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See \u201cProposal 1 \u2013 Election of Directors\u201d beginning on page 13 of this proxy statement." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b75", + "block_sequence": 75, + "block_sha256": "76c495c3b93396cd74a093a0e22e053186f91f473b2462181feeb120deec5dd0", + "block_type": "image", + "char_count": 614, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 75, + "char_end": 614, + "char_start": 0, + "fragment_sha256": "9317d00d0d8caf9d3c6b12e92d2ccbed8e99001ca81cd027bb38c754c96f1fe9", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorProposals and Board Recommendations" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s26", + "table": null, + "text": "Proposal 2 Board Recommendation and Page Number Ratification of the appointment by the Audit and Risk Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025\u200b \u200b The Board recommends a vote \u201cFOR\u201d the ratification of the appointment by the Audit and Risk Committee of Deloitte & Touche LLP as Opendoor\u2019s independent registered public accounting firm for the fiscal year ending December 31, 2025. \u200bSee \u201cProposal 2 \u2013 Ratification of Appointment of Independent Registered Public Accounting Firm\u201d beginning on page 66 of this proxy statement.\u200b" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b76", + "block_sequence": 76, + "block_sha256": "0d7ccecdcbde7c074e3ed80c0aa676dbf2ca887884267a89630a6ec84cd95a06", + "block_type": "image", + "char_count": 575, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 76, + "char_end": 575, + "char_start": 0, + "fragment_sha256": "6c1b93d63d009af4fae4708afe2beb498a71814550b944892e24a0427c2696fa", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorProposals and Board Recommendations" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s26", + "table": null, + "text": "Proposal 3 Board Recommendation and Page Number Approval, on an advisory (non-binding) basis, of the compensation of our named executive officers (Say-on-Pay Vote) The Board recommends a vote \u201cFOR\u201d the approval, on an advisory (non-binding) basis, of the compensation of our named executive officers, as disclosed in this proxy statement. 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"b9f3cdef4625215ddc624f01de1d92dd5f4cf2b89f9d1beae31d237a2a28e5d8", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorOur Board of Directors" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s27", + "table": null, + "text": "Committee Memberships Name Primary Occupation Age* Independent A C G Carrie Wheeler (Chair of the Board) CEO, Opendoor Technologies Inc. 53 \u200b \u200b \u200b Adam Bain** Co-Managing Partner, 01 Advisors 51 \u2022 \u200b \u2022 \u2022 David Benson Former President of Fannie Mae 65 \u2022 \u2022 + Eric Feder President of LENX, LLC 55 \u2022 Dana Hamilton Former Head of Real Estate, Pretium Partners LLC 56 \u2022 \u2022 + \u200b CHAIR Pueo Keffer** Managing Director, Access Technology Ventures 43 \u2022 CHAIR + \u200b\u2022 John Rice (Lead Independent Director) CEO, Management Leadership for 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"section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s28", + "table": null, + "text": "One of the primary functions of our Board is to provide oversight and strategic guidance to senior management, including overseeing management\u2019s performance relative to our goals and objectives and ensuring that the long-term interests of our stockholders are being served. It is therefore essential that the Board be composed of directors who are qualified to effectively support our growth and business strategies. We believe that our directors bring a well-rounded variety of experience, industry backgrounds and perspectives to the Board and represent an effective mix of skills to meet the challenges of our strategic goals. Balanced Mix of Skills, Qualifications and Experience Carrie Wheeler Adam Bain David Benson Eric Feder Dana Hamilton Pueo Keffer John Rice Glenn Solomon Industry Background(1) \u2714 \u2714 \u2714 \u2714 \u2714 \u2714 \u200b \u2714 Public Company Governance and Risk Management(2) \u2714 \u2714 \u2714 \u2714 \u2714 \u2714 \u2714 \u2714 Current or Former Public Company Executive(3) \u2714 \u2714 \u2714 \u2714 \u2714 \u200b (1) Experience as a senior executive in the real estate or technology industry. (2) Significant public company governance, risk management and compliance experience, including experience serving on a board of directors of similar complexity to Opendoor. 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"9be1906380f82203d03b2987df5fd3fcf849dad11b082752cf62836b04b520d8", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorCorporate Governance Highlights" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s29", + "table": null, + "text": "Opendoor is committed to good governance practices that protect and promote the long-term value of the Company for its stockholders. The Board regularly reviews our governance practices, including those outlined in our Corporate Governance Guidelines, to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders. Independent Oversight \u2022 Seven of eight current directors are independent (all except for Carrie Wheeler, our Chief Executive Officer (\u201cCEO\u201d)). \u2022 Board meetings and committee meetings include regular executive sessions of non-employee directors. \u2022 Board has unrestricted access to Company management. \u2022 Board committees are composed entirely of independent directors. \u2022 Board and committees engage in active oversight of the Company\u2019s strategy and risk management. \u2022 Directors must offer to resign if the Board or Nominating and Corporate Governance Committee (the \u201cNominating Committee\u201d) has determined that an actual conflict of interest arises with respect to the director that is not waived by the Board. \u2022 Designated Lead Independent Director is responsible for coordinating the activities of the independent directors, including presiding over all Board meetings. Board Membership Criteria \u2022 Nominating Committee is responsible for identifying, reviewing, evaluating and recommending candidates to serve as directors of Opendoor. \u2022 Directors possess deep and diverse sets of skills and expertise to effectively support our growth and business strategies. \u2022 Board completes an annual assessment of director skills and expertise to ensure the Board meets the Company\u2019s evolving oversight needs. \u2022 All Audit and Risk Committee members are financial experts. \u2022 Board oversees risk management, reviewing and advising management on significant risks facing the Company, and fostering a culture of integrity and risk awareness. \u2022 Board and committees complete annual self-evaluations (overseen by the Nominating Committee). \u2022 New directors attend orientation and all directors undertake periodic ongoing education. Stockholder Rights \u2022 One class of common stock, with each share entitled to one vote. \u2022 No stockholder rights plan in place. \u2022 Stockholder communication process available for communicating with the Board. Good Governance Practices \u2022 Code of Business Conduct and Ethics (\u201cCode of Conduct\u201d) applies to directors and all employees. \u2022 Insider Trading and Trading Window Policy (\u201cInsider Trading Policy\u201d) prohibits hedging transactions, short sales and buying or selling puts, calls, options or other derivative securities of the Company by directors, officers and employees. \u2022 Compensation Committee of the Board (\u201cCompensation Committee\u201d) engages an independent compensation consultant for objective advice. \u2022 Change-in-control payments and benefits are double-trigger arrangements. \u2022 Robust stock ownership guidelines apply to executive officers and directors. \u2022 Directors are expected not to simultaneously serve on more than five public company boards, except with the prior approval of the Board. \u2022 Clawback policy applies to executive compensation." + }, + { + "block_id": 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In addition, our program is heavily weighted towards equity compensation, thereby enabling us to closely align the interests of our executive officers with the interests of our stockholders. To ensure that we are able to achieve these objectives, we adhere to the following best practices: Compensation Committee \u2022 Consists solely of independent directors. \u2022 Retains its own independent compensation consultant that performs no other consulting or other services for Opendoor. \u2022 Conducts annual review of compensation strategy and program, including review and determination of compensation peer group used for comparative purposes. Other Elements of Compensation Program Design \u200b\u2022 A significant portion of executive compensation is \u201cat risk\u201d based on our performance, including short-term cash incentives and long-term equity incentives, to align the interests of our executive officers with those of our stockholders. \u2022 Change-in-control payments and benefits for executive officers are double-trigger arrangements. \u2022 Annual stockholder advisory vote is conducted on named executive officer compensation. \u2022 Company has pay-for-performance philosophy, which ensures that executive officers\u2019 total compensation is dependent upon overall, long-term success as measured through company performance, stock price and/or total stockholder return. \u2022 No tax reimbursement payments (including gross ups) are made on severance or change in control payments or benefits. \u2022 No pension arrangements or retirement plans or arrangements are offered to executive officers different from or in addition to those offered to other employees. \u2022 Executive officers participate in broad-based, company-sponsored health and welfare benefit programs on the same basis as other full-time, salaried employees. \u2022 Executive officers and other employees are prohibited from hedging their interests in Opendoor equity securities. \u2022 Executive officers are subject to robust stock ownership guidelines. \u2022 Executive officers are subject to clawback policy, which provides for the mandatory recovery of certain erroneously awarded incentive compensation in the event of an accounting restatement." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b101", + "block_sequence": 101, + "block_sha256": "dd095c8da7bc4b4d304bf1676ab2b1240ed373e3d0bf4feebc405205e4b59653", + "block_type": "heading", + "char_count": 28, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 101, + "char_end": 28, + "char_start": 0, + "fragment_sha256": "9981a5efb99004b2473e73ad6e8d54ab40496b2ec0ce1c8fea524cec6cbdcdfb", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorStockholder Engagement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s31", + "table": null, + "text": "AnchorStockholder Engagement" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b102", + "block_sequence": 102, + "block_sha256": "96834fa3dfa504cf43cde33f2aae831c0f37640a96c28f8531c029bcfb1336a2", + "block_type": "paragraph", + "char_count": 859, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 102, + "char_end": 859, + "char_start": 0, + "fragment_sha256": "89e572f2c4bc8d67d700075fbc4da1323dd92aec2181e7a0617204ab836b2d91", + "heading_path": [ + "SCHEDULE 14A", + "Opendoor Technologies Inc.", + "AnchorNOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS", + "AnchorStockholder Engagement" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s31", + "table": null, + "text": "Opendoor engages with stockholders and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to stockholders. This engagement helps us better understand evolving stockholder priorities and perspectives, gives us an opportunity to elaborate upon our initiatives with relevant experts, and fosters constructive dialogue. As we continue to mature as a public company, we will continue to engage with our stockholders regarding our corporate governance practices. 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If not otherwise specified, the shares of Common Stock represented by the proxies will be voted, and the Board recommends that you vote as follows:" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b138", + "block_sequence": 138, + "block_sha256": "11eeed92d6e1c610cfc86b54c74697ee2c92cb1c4316d7372a87a3e4057f5d60", + "block_type": "image", + "char_count": 654, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 138, + "char_end": 654, + "char_start": 0, + "fragment_sha256": "e193a2f304e7927098ebcffe1b2971e11c0fefb8ecba8a01330c57eeb346dca1", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorRecommendations of the Board" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s45", + "table": null, + "text": "\u201cFOR\u201d Proposal 1 \u2013 the election of each of Adam Bain and Pueo Keffer to hold office as Class II members of the Board until the 2028 Annual Meeting of Stockholders; \u201cFOR\u201d Proposal 2 \u2013 the ratification of the appointment by the Audit and Risk Committee of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2025; \u201cFOR\u201d Proposal 3 \u2013 the approval, on an advisory (non-binding) basis, of the compensation of our named executive officers, as disclosed in this proxy statement; and In the discretion of the persons appointed as proxies on any other items that may properly come before the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b139", + "block_sequence": 139, + "block_sha256": "2dad5c6908a3024c5cec429a9ba02281854f277df7b449cc20c82546e3aaabda", + "block_type": "paragraph", + "char_count": 73, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 139, + "char_end": 73, + "char_start": 0, + "fragment_sha256": "373f5b8b724092e87ad841a25632cc629cf079b86c23c944eeb8a70309182a2d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorRecommendations of the Board" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s45", + "table": null, + "text": "AnchorFrequently Asked Questions About the Annual Meeting of Stockholders" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b140", + "block_sequence": 140, + "block_sha256": "15d54231bcb006064b28fb12db7235b7124bd3ae1b541d61d5ed2cd1d70fe005", + "block_type": "heading", + "char_count": 89, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 140, + "char_end": 89, + "char_start": 0, + "fragment_sha256": "54e7f86280f144c1f83b0fda4aff44e9621ab35e656b6e02c0dbd82e4b768d0e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the internet?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s46", + "table": null, + "text": "Why did I receive a notice regarding the availability of proxy materials on the internet?" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b141", + "block_sequence": 141, + "block_sha256": "49e646eed5090e521f4ef025d755a272447c6b353f1115a79da19261351e2021", + "block_type": "paragraph", + "char_count": 1001, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 141, + "char_end": 1001, + "char_start": 0, + "fragment_sha256": "22d577c2783b83f078865d7107cf0ba16c90500860f68b11a0c3d63394fa450f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Why did I receive a notice regarding the availability of proxy materials on the internet?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s46", + "table": null, + "text": "As permitted by SEC rules, Opendoor is making this proxy statement and its 2024 Annual Report available to its stockholders electronically via the internet. 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postponement, continuation or adjournment of the Annual Meeting. As of the Record Date, 728,896,889 shares of our Common Stock were issued and outstanding and entitled to vote at the Annual Meeting. Each share of Common Stock entitles the holder thereof to one vote with respect to all matters submitted to stockholders at the Annual Meeting. We have no other securities entitled to vote at the Annual Meeting. A complete list of stockholders as of the Record Date will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting for a purpose germane to the Annual Meeting by sending an email to investors@opendoor.com, stating the purpose of the request and providing proof of ownership of Opendoor stock." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b150", + "block_sequence": 150, + "block_sha256": "4cab4fd144192490ba4fcc07b4d7ce4b964e6c678ae91080619c3cd39fde9b39", + "block_type": "heading", + "char_count": 53, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 150, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "bce1ba8ad6cf787e31d398916175f6e1244d0a69b6bdf7580fe632826b4846d5", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who is entitled to vote at the Annual Meeting?", + "Stockholder of Record: Shares Registered in Your Name" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s48", + "table": null, + "text": "Stockholder of Record: Shares Registered in Your Name" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b151", + "block_sequence": 151, + "block_sha256": "e9cbaa420c382aba143a346188736a7b942185969b7c6590341e8ab64818bad8", + "block_type": "paragraph", + "char_count": 932, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 151, + "char_end": 932, + "char_start": 0, + "fragment_sha256": "9aabd2e91a6d2c51f21845499c1f53ca022c8296899cec79fa191f1a52d0c88c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who is entitled to vote at the Annual Meeting?", + "Stockholder of Record: Shares Registered in Your Name" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s48", + "table": null, + "text": "Each holder of record of Common Stock on the Record Date will be entitled to one vote for each share held on all matters to be voted upon at the Annual Meeting. As a stockholder of record, you may vote at the Annual Meeting, or prior to the Annual Meeting, vote through the internet or by telephone, or by mail using a proxy card that you received or that you may request. See \u201cHow do I vote my shares if I am a stockholder of record?\u201d below. Whether or not you plan to attend the Annual Meeting, we urge you vote by proxy through the internet or by telephone as instructed below, or by completing a proxy card that you may request or that we may elect to deliver at a later time. Stockholders who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2025 to vote during the Annual Meeting. The stock transfer books will not be closed between the Record Date and the Annual Meeting date." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b152", + "block_sequence": 152, + "block_sha256": "5c37e8e2ba959b6a3d759aabc8a024591fe0edca3f028598ec6881de02b3bd14", + "block_type": "heading", + "char_count": 67, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 152, + "char_end": 67, + "char_start": 0, + "fragment_sha256": "a0101718cdf8501fa04fb62befe82a6a6de3730042dc2124cdeb4979101c893e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who is entitled to vote at the Annual Meeting?", + "Stockholder of Record: Shares Registered in Your Name", + "Beneficial Owner: Shares Registered in the Name of a Broker or Bank" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s49", + "table": null, + "text": "Beneficial Owner: Shares Registered in the Name of a Broker or Bank" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b153", + "block_sequence": 153, + "block_sha256": "89225f839e9966632d93153b2e23c55ff70bff51efd230fd52f965a70886d9d2", + "block_type": "paragraph", + "char_count": 960, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 153, + "char_end": 960, + "char_start": 0, + "fragment_sha256": "0195afecaf3c6c63eecf661025238fa601293c646ef1ae0544f86da8cfb8d055", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Who is entitled to vote at the Annual Meeting?", + "Stockholder of Record: Shares Registered in Your Name", + "Beneficial Owner: Shares Registered in the Name of a Broker or Bank" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s49", + "table": null, + "text": "If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner of shares held in \u201cstreet name\u201d and the Notice is being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting during the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend the Annual Meeting virtually. However, since you are not the stockholder of record, you may only vote your shares during the Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2025 to vote during the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b154", + "block_sequence": 154, + "block_sha256": "639d4525cc9698510ffec130b8063735d4bc48c727a3755ce6e096de0529cbb0", + "block_type": "heading", + "char_count": 56, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 154, + "char_end": 56, + "char_start": 0, + "fragment_sha256": "e4482dac4cb5b5bc4215f1ea71205f17221e66c12daffc071915bbeae60f32c4", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How do I vote my shares if I am a stockholder of record?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s50", + "table": null, + "text": "How do I vote my shares if I am a stockholder of record?" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b155", + "block_sequence": 155, + "block_sha256": "af20aa0f3944b439377f4236cbea02bc286f91a7d6aba6d74ec3efc2f6ccc06e", + "block_type": "paragraph", + "char_count": 218, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 155, + "char_end": 218, + "char_start": 0, + "fragment_sha256": "f3426b19cc3117d8daa29ca457678d464fc699cc7ecd518ca04b9cec1ba18817", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How do I vote my shares if I am a stockholder of record?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s50", + "table": null, + "text": "If you are the record holder of your shares, you may vote in one of four ways. You may vote by submitting your proxy over the internet, by telephone or by mail, or you may vote electronically during the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b156", + "block_sequence": 156, + "block_sha256": "8f574352d065634c693dbca8632612b32a1853215a4a7b5b83349b7ce9af23d2", + "block_type": "image", + "char_count": 610, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 156, + "char_end": 610, + "char_start": 0, + "fragment_sha256": "bf71da3617862a56d14ab50abeec77b5721299cd59441cb41e03783f98bf3478", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How do I vote my shares if I am a stockholder of record?" + ], + "table_index": null, + "tag_name": "table" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s50", + "table": null, + "text": "By Internet By Telephone By Mail During the Meeting You may vote your shares from any location in the world at www.proxyvote.com (you will need your 16-digit control number). You may vote your shares by calling 1-800-690-6903 and following the instructions on the proxy card. If you received a proxy card by mail, you may vote by completing, dating and signing the proxy card. 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We encourage stockholders to submit their proxy via telephone or online. How do I vote if my shares are held in \u201cstreet name\u201d? If the shares you own are held in your bank or brokerage firm account in a fiduciary capacity (typically referred to as being held in \u201cstreet name\u201d), you should contact your bank or broker to obtain your control number or otherwise vote through the bank or broker. The organization holding your account is considered to be the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you should have received an Internet Notice or voting instructions from the broker or other nominee holding your shares. You should follow the instructions in the Internet Notice or voting instructions provided by your broker or nominee in order to instruct your broker or other nominee on how to vote your shares. The availability of telephone and internet voting will depend on the voting process of the broker or nominee. Please contact your bank, broker or other agent if you have questions about their instructions on how to vote your shares. Please also note that since you are not the stockholder of record, you may only vote your shares during the Annual Meeting if you request and obtain a valid 16-Digit Control Number from your broker or agent. Beneficial owners who attend the Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/OPEN2025 to vote during the Annual Meeting. You will need the 16-Digit Control Number included on your Internet Notice, your proxy card (if you received a printed copy of the proxy materials) or the instructions that accompanied your proxy materials to join the Annual Meeting. If you do not provide your broker or bank with instructions on how to vote your shares, your broker or bank will be able to vote your shares with respect to the ratification of the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025 (Proposal 2) but not with respect to Proposal 1 (Election of Directors) or Proposal 3 (Say-on-Pay vote). For more information, see \u201cWhat happens if a beneficial owner of shares held in street name does not provide its broker or bank with voting instructions?\u201d and \u201cWhat are broker non-votes?\u201d below. Will any other business be conducted at the Annual Meeting? We know of no other business that will be presented at the Annual Meeting. If any other matter properly comes before the stockholders for a vote at the Annual Meeting, however, the proxy holders named on the Company\u2019s proxy card will vote your shares in accordance with their best judgment. AnchorHow do I attend this year\u2019s Annual Meeting? To participate in our Annual Meeting, including to vote and ask questions during the Annual Meeting, visit www.virtualshareholdermeeting.com/OPEN2025 with your 16-digit control number included in the Internet Notice, proxy card or the instructions that accompanied your proxy materials. If you are a beneficial owner of shares registered in the name of your bank or broker, follow the instructions from your bank or broker. You will be required to provide a 16-digit control number provided by your bank or broker. If you are unable to obtain a 16-digit control number to vote your shares, you will still be able to attend the Annual Meeting as a \u201cGuest,\u201d but will not be able to vote your shares. Instructions on how to connect and participate via the internet are posted at www.virtualshareholdermeeting.com/OPEN2025. Even if you plan to attend the live audio webcast of the Annual Meeting, we encourage you to vote in advance by internet, telephone or mail so that your vote will be counted even if you later decide not to attend the Annual Meeting. What if I encounter technical difficulties trying to join or during the Annual Meeting? We will have technicians ready to assist you with any technical difficulties you may have when accessing the Annual Meeting live audio webcast. Please be sure to check in by 9:15 a.m. Pacific Time on June 13, 2025, the day of the Annual Meeting, so we may address any technical difficulties before the Annual Meeting live audio webcast begins. If you encounter any difficulties accessing the Annual Meeting live audio webcast during the check-in or meeting time, please call the phone number listed at www.virtualshareholdermeeting.com/OPEN2025. Opendoor Technologies Inc. // 2025 Proxy Statement 9" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b163", + "block_sequence": 163, + "block_sha256": "c55e72814f0e68270fb70ed917a1b8cc3dc24de0d3ba2ed2cae013af1ce3a237", + "block_type": "paragraph", + "char_count": 11, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 163, + "char_end": 11, + "char_start": 0, + "fragment_sha256": "b963b291670a4af1983af47556819537db9924d014522deeafc775b98910b79f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How do I vote my shares if I am a stockholder of record?" + ], + "table_index": null, + "tag_name": "span" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s50", + "table": null, + "text": "End Page 16" + }, + { + "block_id": 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"fragment_sha256": "8c3bdd0fef9af4973df0b9c27e722c290b1a3d72c7811202aaba126d2c117316", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Will there be a question and answer session during the Annual Meeting?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s51", + "table": null, + "text": "As part of the Annual Meeting, we will hold a live Q&A session, during which we intend to answer questions submitted online during the meeting that are pertinent to the Company and the meeting matters, as time permits. Our Annual Meeting allows stockholders to submit questions and comments before and during the Annual Meeting. Only stockholders that have accessed the Annual Meeting as a stockholder (rather than as a \u201cGuest\u201d) by following the procedures outlined above will be permitted to submit questions during the Annual Meeting. Each stockholder is limited to no more than two questions. Questions should be succinct and only cover a single topic. We will not address questions that are, among other things: \u2022 irrelevant to the business of the Company or to the business of the Annual Meeting; \u2022 related to material non-public information of the Company, including the status or results of our business since our last Quarterly Report on Form 10-Q; \u2022 related to any pending, threatened or ongoing litigation; \u2022 related to personal grievances; \u2022 derogatory references to individuals; \u2022 substantially repetitious of questions already made by another stockholder; \u2022 in excess of the two-question limit; \u2022 in furtherance of the stockholder\u2019s personal or business interests; or \u2022 out of order or not otherwise suitable for the conduct of the Annual Meeting as determined by the chair of the Annual Meeting or Corporate Secretary in their reasonable judgment. Additional information regarding the Q&A session will be available in the \u201cRules of Conduct\u201d posted at www.virtualshareholdermeeting.com/OPEN2025 for stockholders that have accessed the Annual Meeting as a stockholder (rather than a \u201cGuest\u201d) by following the procedures outlined above." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b169", + "block_sequence": 169, + "block_sha256": "ffa8405d0dfaa4986a478a93dd8509862f4bcd64cc8c7e85d9075f3049d335a1", + "block_type": "heading", + "char_count": 26, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 169, + "char_end": 26, + "char_start": 0, + "fragment_sha256": "7aeee0275d01b3ac2b8813284c44ce6e088c00b7df862d1d330d5fb6dd5ae109", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What are Broker Non-Votes?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s52", + "table": null, + "text": "What are Broker Non-Votes?" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b170", + "block_sequence": 170, + "block_sha256": "c60c08d37641a754bbf8aafb50b8ec6d5404fd95c077abe4e291117c1c65a82a", + "block_type": "paragraph", + "char_count": 1112, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 170, + "char_end": 1112, + "char_start": 0, + "fragment_sha256": "3601861f26cc2121c0005f269250f8f5de0033d8a71bb726365d5fcb5a0cd63a", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What are Broker Non-Votes?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s52", + "table": null, + "text": "If the shares you own are held in street name through a bank or brokerage firm, the bank or brokerage firm is required to vote your shares in accordance with your instructions. You should direct your broker how to vote the shares held in your account. Under applicable stock exchange rules, if you do not instruct your broker on how to vote your shares, your broker will be able to vote your shares with respect to certain \u201croutine\u201d matters but will not be allowed to vote your shares with respect to certain \u201cnon-routine\u201d matters. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm is a routine matter, and therefore we do not expect any broker non-votes on this matter. Each other proposal to be voted on at the Annual Meeting is a non-routine matter. Generally, broker non-votes occur when shares held by a broker in \u201cstreet name\u201d for a beneficial owner are not voted with respect to a particular proposal because the broker has not received voting instructions from the beneficial owner and lacks discretionary voting power to vote those shares." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b171", + "block_sequence": 171, + "block_sha256": "fe8a2ba6d1f7e508012476900661dd775f4587cbfb2503e18c0381a9ebd89178", + "block_type": "heading", + "char_count": 124, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 171, + "char_end": 124, + "char_start": 0, + "fragment_sha256": "b588c08bd89e6cb571a0b883ed0bae6e743624f1daee77497d634979acb8fb44", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s53", + "table": null, + "text": "What happens if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b172", + "block_sequence": 172, + "block_sha256": "f2da60f5357ad7439194f6cda749a0073535013172cbc7c93ff68f82135fbbda", + "block_type": "paragraph", + "char_count": 540, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 172, + "char_end": 540, + "char_start": 0, + "fragment_sha256": "05e053d925322dbef06b488f887bf69054dcc3ffc0723ff1260effd300173c6e", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s53", + "table": null, + "text": "If you are a stockholder of record and you do not specify your vote on each proposal individually when voting via the internet, over the telephone or if you sign and return a proxy card without giving specific voting instructions, then your shares will be voted in line with the Board\u2019s recommendations as described under \u201cRecommendations of the Board\u201d above. If any other matter is properly presented at the Annual Meeting, your proxyholder (one of the individuals named on your proxy card) will vote your shares using their best judgment." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b173", + "block_sequence": 173, + "block_sha256": "e7aa5d1bf12a8632c08043a54d342943eee5523bb5dbf8adf6fd0062120f2fa0", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 173, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "35c586b12263014f435e65db3cb3ca15ca4cdbb44a785c655918f5f8f86a1cb2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "What happens if a stockholder of record returns a proxy card or otherwise votes without giving specific voting instructions?" + ], + "table_index": null, + "tag_name": "div" + 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In this regard, under the rules of the New York Stock Exchange (\u201cNYSE\u201d), brokers, banks and other securities intermediaries that are subject to NYSE rules may use their discretion to vote your \u201cuninstructed\u201d shares with respect to matters considered to be \u201croutine\u201d under NYSE rules, but not with respect to \u201cnon-routine\u201d matters. In this regard, Proposals 1 and 3 are considered to be \u201cnon-routine\u201d under NYSE rules meaning that your broker may not vote your shares on those proposals in the absence of your voting instructions. 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Votes withheld and abstentions are counted as present and entitled to vote for purposes of determining a quorum. Votes withheld have no effect on the election of directors and abstentions have no effect on the ratification of the appointment of Deloitte & Touche LLP and the advisory vote on the compensation of our named executive officers." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b183", + "block_sequence": 183, + "block_sha256": "2426105c24937df99299aa8507fc7138bee0e2d8ec1a46c9f5d0d8781e7f2ce0", + "block_type": "heading", + "char_count": 40, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 183, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "4d9e1c5c6550746310eb07e442dc90464c1a06cadc5fe5cdd0077b0731346af2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s56", + "table": null, + "text": "Can I revoke my proxy or change my vote?" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b184", + "block_sequence": 184, + "block_sha256": "754d678e663ffcbdc55ff84f64800f3f59de94888af17276758fc5b1b97e53f4", + "block_type": "paragraph", + "char_count": 246, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 184, + "char_end": 246, + "char_start": 0, + "fragment_sha256": "9f01254b9f2181beb9ce35a94b51ee170e1d7d758b2807f069b00bd4f0eb5c46", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s56", + "table": null, + "text": "Voting over the internet or by telephone or execution of a proxy will not in any way affect a stockholder\u2019s right to attend the Annual Meeting and vote electronically. A proxy may be revoked before it is used to cast a vote at the Annual Meeting." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b185", + "block_sequence": 185, + "block_sha256": "9e58fb988b6e4a496035b5929bd7480ed9d085f8e0f77c4e1ab5568e125d2b05", + "block_type": "heading", + "char_count": 22, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 185, + "char_end": 22, + "char_start": 0, + "fragment_sha256": "312e107a5e0fcaa887abbfcf7a4d60ecb3ea59c63953f313de559d0cf1448cd0", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?", + "Stockholders of Record" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s57", + "table": null, + "text": "Stockholders of Record" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b186", + "block_sequence": 186, + "block_sha256": "45c23e658f0007aa869509c247d41aa1e180bf598b79668319e8f9aa2f9f7891", + "block_type": "paragraph", + "char_count": 981, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 186, + "char_end": 981, + "char_start": 0, + "fragment_sha256": "93e55324e54919542624dbdc50134b0e9964c59dbeb7ff2b997068e77bec6bd3", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?", + "Stockholders of Record" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s57", + "table": null, + "text": "If the shares you own are held in your name, you can revoke a proxy and change your vote by doing one of the following: \u2022 delivering to our Corporate Secretary, at or before the taking of the vote at the Annual Meeting, a written notice of revocation bearing a later date than the proxy; \u2022 duly executing a later-dated proxy relating to the same shares and delivering it to our Corporate Secretary before the taking of the vote; \u2022 duly giving a subsequent proxy relating to the same shares through the internet or telephone before the taking of the vote; or \u2022 attending the Annual Meeting and voting electronically. However, your attendance at the Annual Meeting will not automatically revoke your proxy unless you vote again at the Annual Meeting. Any written notice of revocation or subsequent proxy should be sent to us at the following address: Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288, Attention: Sydney Schaub, Corporate Secretary." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b187", + "block_sequence": 187, + "block_sha256": "57a70e6d0e84cf70cc4773d50135f4ca210adebb39c8b20c0ffe454ee467d880", + "block_type": "heading", + "char_count": 16, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 187, + "char_end": 16, + "char_start": 0, + "fragment_sha256": "803d6b44a1e764a5f75ebd76179dbb49e77b5b26a2954ae4c6e8551b9ed06d35", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Can I revoke my proxy or change my vote?", + "Stockholders of Record", + "Beneficial Owner" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s58", + "table": null, + "text": 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If a quorum is not present, the chair of the Annual Meeting may adjourn the meeting until a quorum is obtained." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b197", + "block_sequence": 197, + "block_sha256": "c997645d9c120b5a1513b6e7473eae1158834c4b66eacf7601a8431f51aee931", + "block_type": "heading", + "char_count": 51, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 197, + "char_end": 51, + "char_start": 0, + "fragment_sha256": "f520137b8940b5eb975e2637c32e3deef493464462dd46ba907773782a7d1f8b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s60", + "table": null, + "text": "How many votes are needed to approve each proposal?" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b198", + "block_sequence": 198, + "block_sha256": "404d3473fae92b05c45870ae3b4ae6baf0498032e678ea7b93a6b754736e0c52", + "block_type": "paragraph", + "char_count": 1437, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 198, + "char_end": 1437, + "char_start": 0, + "fragment_sha256": "540ff0eb0faaaaa206eb2f38b0ed6ff348ebfcde22ef9f5b0f9108350153c3b4", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "How many votes are needed to approve each proposal?" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s60", + "table": null, + "text": "The table below sets forth the vote required for the approval of each proposal before the Annual Meeting, and the effect of votes withheld, abstentions and broker non-votes. Proposal Votes Required Effect of Votes Withheld/Abstentions and Broker Non-Votes Proposal 1: Election of Directors The plurality of the votes cast. This means that the two nominees receiving the highest number of \u201cFOR\u201d votes will be elected as Class II Directors. Votes withheld and broker non-votes will have no effect. Proposal 2: Ratification of Appointment by the Audit and Risk Committee of the Independent Registered Public Accounting Firm \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. Abstentions and broker non-votes will have no effect. We do not expect any broker non-votes on this proposal.(1) Proposal 3: Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers (\u201cSay-on-Pay Vote\u201d) \u201cFOR\u201d votes from the holders of a majority in voting power of the votes cast on the matter. Abstentions and broker non-votes will have no effect. (1) Proposal 2 is considered to be a \u201croutine\u201d matter under NYSE rules. 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"fragment_sha256": "33487e969b402b51c53701cf02cd7b5720589f260b58429c1159587a1d76123b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "When are stockholder proposals due for next year\u2019s annual meeting?", + "AnchorPROPOSAL 1 \u2014 ELECTION OF DIRECTORS" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s65", + "table": null, + "text": "The Board has nominated Adam Bain and Pueo Keffer as Class II director nominees for election at the Annual Meeting. Our Board is composed of eight directors. John Rice is not standing for re-election to the Board at the Annual Meeting, and the Board determined that following the Annual Meeting, the size of the Board will be reduced from eight to seven directors. As described in our Certificate of Incorporation, our Board is currently divided into three classes. The following table describes the schedule for the election of our directors over the next three annual meetings and the terms our directors will serve if elected. Meeting Class of Directors Standing for Election Term 2025 Annual Meeting Class II Three-year term expiring at 2028 Annual Meeting 2026 Annual Meeting Class III Three-year term expiring at 2029 Annual Meeting 2027 Annual Meeting Class I Three-year term expiring at 2030 Annual Meeting If you return a duly executed proxy card without specifying how your shares are to be voted, the persons named in the proxy card will vote to elect Adam Bain and Pueo Keffer as Class II directors. Adam Bain and Pueo Keffer currently serve on our Board and have indicated their willingness to continue to serve if elected. However, if any director nominee should be unable to serve, or for good cause will not serve, the shares of common stock represented by proxies may be voted for a substitute nominee designated by our Board, or our Board may reduce its size. 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Each of the biographies highlights specific experience, qualifications, attributes and skills that led us to conclude that such person should serve as a director. We believe that, as a whole, our Board exemplifies the highest standards of personal and professional integrity and the requisite skills and characteristics, leadership traits, work ethic and independence to provide effective oversight. No director or executive officer is related by blood, marriage or adoption to any other director or executive officer. 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Mr. Bain is a co-founder of and has been co-Managing Partner of 01 Advisors, a venture capital firm targeting high-growth technology companies, since January 2018. Mr. Bain served as a director of Social Capital Hedosophia Holdings Corp., which was a publicly traded special purpose acquisition company, from September 2017 until the consummation of its business combination with Virgin Galactic Holdings, Inc. (\u201cVirgin Galactic\u201d), a publicly traded spaceflight company, in October 2019. He then served as a member of the Virgin Galactic board of directors from October 2019 to June 2023 and as chair of the nominating and corporate governance committee and a member of the compensation committee until May 2023. Since November 2016, Mr. Bain has also been an independent advisor to and investor in select privately held growth-stage companies. From 2015 to November 2016, Mr. Bain served as the Chief Operating Officer of Twitter, Inc. (\u201cTwitter,\u201d now X Corp.), formerly a publicly traded social media company, and also served as President of Global Revenue & Partnerships of Twitter from 2010 to 2015. Mr. Bain received his B.A. degree in English Journalism from Miami University in Ohio. Skills and Qualifications: We believe Mr. Bain is qualified to serve as a member of our Board because of his significant operating and technology experience, as well as his financial experience. PUEO KEFFER Director Since: 2020 Age: 43 Committee Memberships: \u2022 Audit and Risk (CHAIR) \u2022 Compensation Other Public Company Boards: \u2022 DigitalOcean Holdings, Inc. (Compensation and Nominating and Corporate Governance Committees) Pueo Keffer has served as a member of our Board since December 2020 and served as a member of the board of directors of Opendoor Labs Inc. from October 2015 to December 2020. Mr. Keffer has served as a Managing Director of Access Technology Ventures, the venture capital and growth technology investment arm of Access Industries, Inc., since 2015. From 2009 to 2015, Mr. Keffer served in various roles at Redpoint Ventures, most recently as a Partner. Since 2015, he has served on the board of directors of DigitalOcean Holdings, Inc., a publicly traded cloud computing platform company, where he serves as a chair of the nominating and corporate governance committee and member of the compensation committee. He also serves on the board of directors of two privately held companies. Previously, Mr. Keffer was an associate at TA Associates, a growth private equity firm, and a financial analyst at Goldman Sachs & Co. Mr. Keffer received his B.A. degree in Economics from Stanford University. 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(Risk and Technology Committees) Dana Hamilton has served as a member of our Board since November 2023. From December 2022 to March 2023, Ms. Hamilton was a Senior Advisor to Pretium Partners LLC, an alternative investment manager specializing in U.S. real estate and credit assets. From April 2017 until December 2022, Ms. Hamilton was a Senior Managing Director and Head of Real Estate for Pretium, where she oversaw significant growth in Pretium\u2019s single-family rental investment business. Since June 2024, Ms. Hamilton has served on the board of directors of Howard Hughes Holdings Inc., a publicly traded real estate development and management company, where she also serves as a member of the risk and technology committees. Ms. Hamilton is also the co-founder of Ameriton LLC, a real estate investment company, and has served as its President since October 2014. From October 2013 to October 2014, she served as President and Chief Executive Officer, and trustee, of Borderplex Community Trust. Prior thereto, Ms. Hamilton spent 20 years at Archstone, one of the largest apartment companies in the U.S. and Europe, until its sale to AvalonBay and Equity Residential in 2013, where she held numerous roles during her tenure, including President \u2013 Europe and Executive Vice President \u2013 National Operations. Ms. Hamilton previously served as a director of Life Storage, Inc. from March 2018 until the company merged with Extra Space Storage Inc. in July 2023, and FelCor Lodging Trust Incorporated from April 2016 until September 2017, when the company merged with RLJ Lodging Trust. Ms. Hamilton earned her B.A. in Public Policy from Stanford University and her M.B.A. in Real Estate and Finance from the Haas School of Business at the University of California, Berkeley. Skills and Qualifications: We believe that Ms. Hamilton is qualified to serve as a member of our Board because of her extensive experience in investment and operations across multiple real estate verticals, in particular the multifamily and single-family rental industries. Ms. Hamilton brings to the Board significant financial, transactional and asset management expertise, as well as extensive leadership and general management expertise. GLENN SOLOMON Director Since: 2020 Age: 56 Committee Memberships: \u2022 Compensation (CHAIR) Other Public Company Boards: \u2022 None Glenn Solomon has served as a member of our Board since December 2020 and served as a member of the board of directors of Opendoor Labs Inc. from February 2015 to December 2020. Mr. Solomon has been a Managing Partner of Notable Capital (formerly known as GGV Capital), a venture capital firm, since 2006. He also serves as a director of a number of privately held companies and previously served as a director of Hashicorp, Inc., formerly a publicly traded software company, from September 2014 until IBM\u2019s acquisition of the company in February 2025, and of Domo, Inc., a cloud software company, from August 2017 to March 2019. Mr. Solomon received his B.A. degree in Public Policy and M.B.A. from Stanford University. 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She previously served as our Chief Financial Officer from September 2020 to December 2022. Ms. Wheeler also previously served as a member of our Board from October 2019 to September 2020. From 1996 to 2017, Ms. Wheeler was with TPG Global, a global private equity firm, including as a Partner and Head of Consumer / Retail Investing. Ms. Wheeler has served on the board of directors and on the audit committee of APi Group Corporation, a global provider of safety and specialty services, since November 2019 and on the board of directors of TKO Group Holdings, a sports and entertainment company, where she is also chairperson of the audit committee, since September 2023. She previously served on the board and audit committee of Dollar Tree, Inc. from March 2019 to March 2022. Ms. Wheeler has also served on a number of other corporate boards of private and public companies, including Neiman Marcus Group (2005 to 2013) and Petco Animal Supplies (2006 to 2015). Ms. Wheeler received her Bachelor of Commerce degree from Queen\u2019s University in Canada. Skills and Qualifications: We believe that Ms. Wheeler is qualified to serve as a member and Chair of our Board because of her experience with our Company as our CEO and former Chief Financial Officer, her extensive experience in a leadership role at a global private equity firm, and her investment and board experience across various industries. DAVID BENSON Director Since: 2024 Age: 65 Committee Memberships: \u2022 Audit and Risk Other Public Company Boards: \u2022 None David Benson has served on our board of directors since September 2024. Mr. Benson most recently served as President of Fannie Mae, the largest provider of mortgage credit in the United States with over $4 trillion in assets, from August 2018 until his retirement in May 2024. As President, Mr. Benson oversaw each of Fannie Mae\u2019s business units, single-family residential and multifamily, as well as several corporate functions, including Finance, IT, Operations, Strategy, Human Resources and Communications. In addition, Mr. Benson helped to pioneer the formation of Common Securitization Solutions, a cloud-native platform that enables the $7 trillion mortgage-backed securities market to achieve enhanced levels of liquidity and standardization. Mr. Benson also served as Interim Chief Executive Officer from May 2022 to December 2022, as a member of the board of directors from May 2022 to December 2022, as Interim Chief Financial Officer from May 2021 to November 2021, and as the interim head of Fannie Mae\u2019s Single-Family business from January 2021 to May 2021. Mr. Benson joined Fannie Mae in 2002, and prior to his role as President, served in a range of leadership roles, including as Executive Vice President and Chief Financial Officer, Executive Vice President\u2014Capital Markets, Securitization & Corporate Strategy, and as Treasurer. Prior to joining Fannie Mae, Mr. Benson was Managing Director in the fixed income division of Merrill Lynch & Co., Inc., where, from 1988 through 2002, he served in several capacities in the areas of risk management, trading, debt syndication and e-commerce. Mr. Benson earned his B.S. in Psychobiology from the University of California, Los Angeles, his M.B.A. from Stanford University and his M.D. from Harvard Medical School. Skills and Qualifications: We believe Mr. Benson is qualified to serve as a member of our Board because of his deep knowledge of the single-family real estate industry, his capital markets expertise, and his experience as a public company executive." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b240", + "block_sequence": 240, + "block_sha256": "acb741d52935252670f9dd3fc13d700ee73817e80be178bfff3f43ae4a7ec7a9", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 240, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "27d9ad4d247efc28ed03f61d8dd7ab2b26d6cfeb6b187fcb7fe759ce15fa6c3c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "Class III directors (terms ending in 2026)" + ], + "table_index": null, + "tag_name": "div" + }, + 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(Compensation Committee) Eric Feder has served on our board of directors since May 2024. Mr. Feder has been President of LENX, LLC since 2019, and a senior operating executive at Lennar Corporation, one of the country\u2019s leading homebuilders, since 2008. He oversees Lennar Corporation\u2019s innovation platform and has helped identify, structure and execute Lennar Corporation\u2019s investments in the real estate technology space. He has served on the board of directors of Hippo Holdings Inc., a publicly traded insurance company focusing on property and casualty insurance, where he also serves on the compensation committee, since 2018. Prior to his current role at Lennar, Mr. Feder was Vice Chairman at Rialto Capital, a leading investment management platform focused on real estate, from 2008 to 2018, where he oversaw over $6 billion of direct real estate investments and non-performing loan acquisitions. Skills and Qualifications: We believe Mr. Feder is qualified to serve as a member of our Board because of his extensive knowledge of the real estate industry, his experience in technology investments, and his service on the boards of directors of public and private companies." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b246", + "block_sequence": 246, + "block_sha256": "b41eabb23f9cc9e9628cff86ce5d0aff0d40a0d6bfab9e4fe01aa74d44b099eb", + "block_type": "heading", + "char_count": 23, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 246, + "char_end": 23, + "char_start": 0, + "fragment_sha256": "21cd54e992a99a15e22f5a071b7da71479e357e717df8fddb555cf450a32e4f9", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Composition" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s71", + "table": null, + "text": "AnchorBoard Composition" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b247", + "block_sequence": 247, + "block_sha256": "b96bf7984732bfb812fb2c4f6c40ed952000bf80e5ae90bd0986d05c2e47026c", + "block_type": "paragraph", + "char_count": 1483, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 247, + "char_end": 1483, + "char_start": 0, + "fragment_sha256": "3206f69a506118a12bbecb1eb1877b02901bad0940a19941753bf0a9746e3806", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Composition" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s71", + "table": null, + "text": "Our Board currently consists of eight members: Adam Bain, David Benson, Eric Feder, Dana Hamilton, Pueo Keffer, John Rice, Glenn Solomon, and Carrie Wheeler. John Rice is not standing for re-election to the Board at the Annual Meeting, and the Board determined that following the Annual Meeting, the size of the Board will be reduced from eight to seven directors. As set forth in our Certificate of Incorporation, the Board is currently divided into three classes with staggered, three-year terms. At each annual meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following election. Our Certificate of Incorporation provides that the authorized number of directors may be changed only by resolution of our Board in accordance with our Amended & Restated Bylaws. Any additional directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. 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You can access our current committee charters, our Corporate Governance Guidelines, and our Code of Conduct in the \u201cCorporate Governance\u201d section of the \u201cInvestor Relations\u201d page of our website located at https://investor.opendoor.com, or by writing to our Corporate Secretary at our principal executive offices at 410 N. 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The Board regularly reviews our governance practices to ensure they reflect the evolving governance landscape and appropriately support and serve the best interests of the Company and its stockholders. Independent Oversight \u2022 Seven of eight current directors are independent (all except for Carrie Wheeler, our CEO). \u2022 Board meetings and committee meetings include regular executive sessions of non-employee directors. \u2022 Board has unrestricted access to Company management. \u2022 Board committees are composed of entirely independent directors. \u2022 Board and committees engage in active oversight of the Company\u2019s strategy and risk management. \u2022 Directors must offer to resign if the Board or Nominating Committee has determined that an actual conflict of interest arises with respect to the director that is not waived by the Board. \u2022 Designated Lead Independent Director is responsible for coordinating the activities of the independent directors. Board Membership Criteria \u2022 Nominating Committee is responsible for identifying, reviewing, evaluating and recommending candidates to serve as directors of Opendoor. \u2022 Directors possess deep and diverse sets of skills and expertise to effectively support our growth and business strategies. \u2022 Board completes an annual assessment of director skills and expertise to ensure the Board meets the Company\u2019s evolving oversight needs. \u2022 All Audit and Risk Committee members are financial experts. \u2022 Board oversees risk management, reviewing and advising management on significant risks facing the Company, and fostering a culture of integrity and risk awareness. \u2022 Board and committees complete annual self-evaluations (overseen by the Nominating Committee). \u2022 New directors attend orientation and all directors undertake periodic ongoing education. Stockholder Rights \u2022 One class of common stock, with each share entitled to one vote. \u2022 No stockholder rights plan in place. \u2022 Stockholder communication process available for communicating with the Board. 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Independence" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b263", + "block_sequence": 263, + "block_sha256": "122d03d77b3298cebcbdf1ac8c54db3edcc068cad34a76f4ea477a35c41c6b72", + "block_type": "paragraph", + "char_count": 2193, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 263, + "char_end": 2193, + "char_start": 0, + "fragment_sha256": "655d456e666c649f859a99f9b6863ae1a6f54143d6eec6dd1eacb60adfce8d17", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorDirector Independence" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s74", + "table": null, + "text": "As required under Nasdaq listing standards, a majority of the members of a listed company\u2019s board of directors must qualify as \u201cindependent,\u201d as affirmatively determined by the Board. Our Board consults with the Company\u2019s inside and outside counsel to ensure that the Board\u2019s determinations are consistent with relevant securities and other laws and regulations regarding the definition of \u201cindependent,\u201d including those set forth in pertinent listing standards of Nasdaq, as in effect from time to time. Consistent with these considerations, after review of all relevant identified transactions or relationships between each director, or any of their family members, and the Company, its senior management and its independent auditors, the Board has affirmatively determined that each of Adam Bain, David Benson, Eric Feder, Dana Hamilton, Pueo Keffer, John Rice and Glenn Solomon, along with our former directors Cipora Herman, who resigned effective February 28, 2025, and Jason Kilar, who resigned effective June 14, 2024, each qualify as \u201cindependent\u201d in accordance with the listing requirements of Nasdaq. In making this determination, the Board found that none of these directors or nominees for director had a material or other disqualifying relationship with the Company. Independent Directors \u2022 Adam Bain \u2022 David Benson \u2022 Eric Feder \u2022 Dana Hamilton \u2022 Pueo Keffer \u200b\u2022 John Rice \u2022 Glenn Solomon In arriving at the foregoing independence determinations, the Board reviewed and discussed information provided by the directors with regard to each director\u2019s business and personal activities and any relationships they have with us and our management. Based on this review, our Board has determined that all of our non-employee directors, who are listed above, meet the applicable criteria for independence established by Nasdaq. Carrie Wheeler does not qualify as independent under the Nasdaq rules due to her current and prior employment at Opendoor, and our former director Eric Wu, who resigned from his positions as member of the Board and President, Marketplace, effective January 1, 2024, did not qualify as independent under the Nasdaq rules due to his prior employment at Opendoor." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b264", + "block_sequence": 264, + "block_sha256": "242b7052233a683b3cd6d1885a79d53ef16be865ccf27be40a06ac03f1c024ab", + "block_type": "heading", + "char_count": 32, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 264, + "char_end": 32, + "char_start": 0, + "fragment_sha256": "7700f689cf42afe3d94e2df2f206416005373d595d4ee6265673369a0877f1a8", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Leadership Structure" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s75", + "table": null, + "text": "AnchorBoard Leadership Structure" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b265", + "block_sequence": 265, + "block_sha256": "ec69e70ffd21f3f411f8fa943695129560d40c4657539f4b3a722b514f1a66f3", + "block_type": "paragraph", + "char_count": 1475, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 265, + "char_end": 1475, + "char_start": 0, + "fragment_sha256": "52ffe4dc84f7634cda4aa5b09739d69cfc390bef651d478349ac0ddaec52e097", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Leadership Structure" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s75", + "table": null, + "text": "Our Bylaws and Corporate Governance Guidelines provide our Board with flexibility to combine or separate the positions of Chair of the Board and CEO. We believe that it is in the best interests of the Company to maintain the flexibility to evaluate our leadership structure over time as part of Opendoor\u2019s ongoing succession planning process. Our current Board leadership structure comprises a combined Chair of the Board and CEO and a lead independent director. Our Board exercises its judgment in combining or separating the roles of Chair of the Board and CEO as it deems appropriate in light of prevailing circumstances. Following the retirement of Mr. Rice, our current lead independent director, after our Annual Meeting, the Board will continue to exercise its judgment on an ongoing basis to determine the optimal Board leadership structure. The Board will discuss and consider approaches it believes will provide effective leadership, oversight and direction of the Company, optimal functioning of both the Board and management, and effective communication between the two. Under our Corporate Governance Guidelines, Mr. Rice, our current lead independent director, has authority, among other things, to call and preside over meetings of the independent directors and work with the CEO to set meeting agendas and to determine materials to be distributed to the Board. 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The Board has oversight responsibility for Opendoor\u2019s risk management strategies, which are designed to identify, assess and monitor fundamental financial and business risks across the Company\u2019s operations and to consider ways to address and mitigate those risks. 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privacy, and other risks relevant to our information systems and security, and, in each case, the steps management has taken to monitor, mitigate and control such exposures, and (ii) reviews with management and our auditors any contingent liabilities and risks that may be material to the Company, including risks relating to relevant legislative and regulatory developments; \u2022 The Compensation Committee, in approving and evaluating the Company\u2019s executive compensation plans, policies and programs, takes into account the degree of risk to the Company that such plans, policies and programs may create and reviews and discusses, at least annually, the relationship between risk management policies and practices, corporate strategy and the Company\u2019s compensation arrangements; and \u2022 The Nominating Committee assists the Board in fulfilling its oversight responsibilities with respect to the management of risks associated with Board organization, membership and structure, as 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+ "AnchorBoard Meetings and Executive Sessions", + "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s80", + "table": null, + "text": "individuals with a variety of backgrounds promotes effective decision-making by, for example, helping us better understand and sell to our diverse customer base. A candidate\u2019s background and personal experience does not outweigh other attributes or factors the Nominating Committee considers in evaluating candidates. Each year, the Nominating Committee assesses the directors to be nominated for election by stockholders at the annual meeting. To ensure that the Board evolves in a manner that serves the business and strategic needs of the Company, before recommending for re-nomination a slate of incumbent directors for an additional term, the Nominating Committee will evaluate whether incumbent directors possess the requisite skills and perspective, both individually and collectively. In addition, the Board will review those directors\u2019 overall service to Opendoor during their term, including the number of meetings attended, level of participation, quality of performance, and any other relationships and transactions that might impair the directors\u2019 independence. The Nominating Committee is primarily responsible for searching for qualified director candidates for election to the Board and filling vacancies on the Board. To facilitate the search process, the Nominating Committee may solicit current directors and executives of the Company for the names of potentially qualified candidates or ask directors and executives to pursue their own business contacts for the names of potentially qualified candidates. The Nominating Committee may also consult with outside advisors or retain search firms to assist in the search for qualified candidates, or consider director candidates recommended by our stockholders. During fiscal year 2024, the Nominating Committee utilized the services of Heidrick & Struggles to assist in the identification and selection of potential director candidates. Once potential candidates are identified, the Nominating Committee reviews the backgrounds of those candidates, evaluates candidates\u2019 independence from the Company and potential conflicts of interest and determines if candidates meet the qualifications desired by the Nominating Committee for candidates for election as a director. The Board believes effective management succession planning, particularly for the CEO, is important to our continued success. At least annually, the Compensation Committee discusses our management succession plans for our key executive officers. Our succession plan includes appropriate contingencies in case the CEO or another key executive officer retires, resigns, dies, or is incapacitated, across multiple time periods. In addition, alternative succession plans are evaluated under multiple strategic and operating scenarios. The Board, with the assistance of the Compensation Committee and the Nominating Committee, will evaluate potential successors to the CEO and other key executive officers. The CEO contributes to these evaluations by making available her recommendations and evaluations of potential successors, along with a review of any recommended development plans. AnchorStockholder Recommendations of Director Candidates Stockholders may recommend individuals to the Nominating Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and background materials, to the Nominating Committee, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288, Attention: Sydney Schaub, Corporate Secretary. In the event there is a vacancy, and assuming that appropriate biographical and background material has been provided on a timely basis, the Nominating Committee will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others. AnchorStockholder Engagement Opendoor engages with stockholders and analysts through conference calls, industry conferences, one-on-one meetings and teleconferences. We typically discuss our financial position, strategic priorities, business outlook and other topics of prime importance to stockholders. This engagement helps us better understand evolving stockholder priorities and perspectives, gives us an opportunity to elaborate upon our initiatives with relevant experts, and fosters constructive dialogue. As we continue to grow as a public company, we will continue to engage with our stockholders regarding our corporate governance practices. We are committed to maintaining an active dialogue with our stockholders to better understand their perspectives and consider their ideas as we continue to evolve our corporate governance, business practices and public disclosures. 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Communications are forwarded to all directors if they relate to important substantive matters and include suggestions or comments that our Corporate Secretary and chair (or lead independent director) of the Board consider to be important for the directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances and matters as to which we tend to receive repetitive or duplicative communications. Stockholders who wish to send communications on any topic to the Board should address such communications to the Board of Directors, c/o Sydney Schaub, Corporate Secretary, Opendoor Technologies Inc., 410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85288. AnchorStock Ownership Guidelines Our Board has established stock ownership guidelines for our executive officers and directors. 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Our Corporate Governance Guidelines are available in the \u201cCorporate Governance\u201d section of our website at https://investor.opendoor.com. References to our website address throughout this proxy statement are for informational purposes only, or to fulfill specific disclosure requirements of the SEC\u2019s rules. These references are not intended to, and do not, incorporate the contents of our website by reference into this proxy statement. AnchorCode of Conduct The Board has adopted the Code of Conduct, which applies to all of our employees, officers and directors. Our Code of Conduct is available in the \u201cCorporate Governance\u201d section of our website at https://investor.opendoor.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq listing rules concerning any amendments to, or waivers from, any provision of our Code of Conduct. 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+ "AnchorBoard Meetings, Continued Education and Succession Planning", + "AnchorBoard Meetings and Executive Sessions", + "AnchorRole of the Board in Succession Planning and Selection and Nomination of Directors" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s80", + "table": null, + "text": "Our Insider Trading Policy prohibits directors, officers and employees from engaging in short sales and buying or selling puts, calls, options or other derivative securities of the Company. Our Insider Trading Policy also prohibits our directors, officers and employees from purchasing any financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) or otherwise engaging in transactions that are designed to hedge or offset any decrease in the market value of the Company\u2019s equity securities, except as otherwise pre-approved by the Board in each instance. In addition, we prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account. We also prohibit pledging our securities as collateral for a loan without the prior consent of our Chief Legal Officer. 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Committee Membership Name Audit and Risk Compensation Nominating Adam Bain \u2022 \u2022 David Benson \u2022 + Dana Hamilton \u2022 + CHAIR Pueo Keffer CHAIR + \u2022 John Rice, Lead Independent Director \u2022 Glenn Solomon CHAIR CHAIR = Committee Chair + = Financial Expert \u2022 = Member" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b302", + "block_sequence": 302, + "block_sha256": "81e6e9f779e23cc42bbd1d793eb821d1c79c84958ed85052f78b686eb723ed34", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 302, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "37710ccce198e4fc6b7d8602b4ddeec2021fef441b48d46705c7df3da4ac323d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorBoard Meetings, Continued Education and Succession 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In 2014, we founded Opendoor to reinvent one of life\u2019s most important transactions and make it possible to buy, sell, and move at the tap of a button. By leveraging software, data science, product design and operations, we are building a managed technology platform for residential real estate that offers buyers and sellers a digital, on-demand experience that we believe will be the future of how people buy or sell a home. \u2022 Since launch, customers have demonstrated their desire for our digital, on-demand real estate solution with over 274,000 homes bought and sold by Opendoor across the United States. \u2022 In 2024, we sold over 13,500 homes, purchased over 14,600 homes, and generated $5.2 billion in revenue. 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"norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b337", + "block_sequence": 337, + "block_sha256": "0f72bc88e6b1c51e21f89869989d66207a48bfdf3f60c7bfe5d9f415138a88f0", + "block_type": "paragraph", + "char_count": 2505, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 337, + "char_end": 2505, + "char_start": 0, + "fragment_sha256": "a5ff7657343fca3c024a0c46a5f45737672c3370d62327b791d8973dcd71c400", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "The Evolution of our Executive Compensation Program" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s85", + "table": null, + "text": "Throughout, we have actively engaged with our stockholders to gather feedback related to our executive compensation practices. This ongoing dialogue, along with the actions we have taken to strengthen our compensation practices, contributed to a significant improvement in our 2024 non-binding, advisory vote on the compensation of our NEOs (a \u201cSay-on-Pay\u201d vote), which received the support of approximately 91% of the votes cast, compared to 75% in 2023. Our Board and Compensation Committee are encouraged by this level of stockholder support of our executive compensation program and view this as an endorsement of the significant enhancements we made to our compensation program for the 2024 fiscal year to further align executive officer pay with stockholder interests, along with other actions taken to address stockholders\u2019 feedback. Year Overarching Goal(s) Key Priorities Key Executive Compensation Actions 2023 Build a Durable Company while Stabilizing and Retaining Key Talent \u2022 Stabilize key leadership and focus on driving financial and operational excellence, while providing continued focus on innovation \u2022 In light of a restructured leadership team, retain, stabilize and motivate the executive team by providing awards that align with building long-term stockholder value 2024 Focus on Path to Profitability \u2022 Align leaders and the organization to performance metrics built to position us to drive sustainable growth while increasing efficiencies and reducing costs to position business on path to achieve profitability \u2022 Introduce practices to align with a maturing public company \u2022 Shift total target compensation for all NEOs toward greater performance-based compensation, from 0% in fiscal 2023 to 26% in fiscal 2024 \u2022 Establish formulaic performance metrics in the annual cash bonus plan, as well as long-term incentives tied to driving sustainable growth and improved profitability measures 2025 Drive Operational Excellence and Path to Profitability \u2022 Enhance alignment of compensation performance goals with the Company\u2019s operational goals, with a continued focus on positioning business to achieve profitability \u2022 Continue to evolve our practices as a maturing public company \u2022 Further increase the portion of our NEOs\u2019 total target compensation toward greater performance-based compensation, from 26% in fiscal 2024 to 45% in fiscal 2025 \u2022 Continue to utilize performance metrics that position us on a path to profitability \u2022 Reevaluate and refine our peer group for fiscal 2025" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b338", + "block_sequence": 338, + "block_sha256": "e9cc8fe104c2ed9d5759db11bbb5f5d3e1fc428092f13f4f8e53b7908e54a7ce", + "block_type": "paragraph", + "char_count": 53, + "level": null, 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"20bb9f65b4142d09d0ad45e04f3b553a1907b6e60ed2af05c28ba1305ad9ec3f", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "The Evolution of our Executive Compensation Program" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s85", + "table": null, + "text": "The following table summarizes (i) the approximate weighting of total target performance-based and non-performance-based compensation for our current NEOs in fiscal 2023 and 2024 and (ii) the approximate weighting of total target at-risk and not at-risk compensation for our NEOs in fiscal 2025, each on an aggregate basis." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b344", + "block_sequence": 344, + "block_sha256": 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units (\u201cTRSUs\u201d). (2) Performance-based pay includes short-term and long-term incentives that are directly tied to pre-approved performance metrics (as described below in the section titled \u201cCompensation Philosophy and Objectives.\u201d) The value included in the table for performance-based short-term and long-term incentives is the target value of such compensation. Key changes to our executive compensation program for 2024 included the following: As approved by our Compensation Committee, and consistent with feedback from our stockholders, we adopted a more performance-based design for our short-term and long-term incentive programs. The following actions related to 2024 compensation for our NEOs were approved: \u2022 Introduction of Annual Performance Bonus Plan: We established an annual performance-based cash bonus program under which all NEOs are eligible for performance-based bonuses based on the achievement of pre-established corporate performance goals approved by the Compensation Committee. For fiscal 2024, adjusted net income (\u201cANI\u201d) was the corporate performance metric used to determine the 2024 cash performance bonuses. We believe that ANI is the most appropriate proxy for cash flow generated by our business. The details of our annual performance bonus plan, performance against our fiscal 2024 objectives, and detailed definition of ANI are as described below under \u201cCompensation Elements\u2013Annual Cash Performance Bonuses.\u201d \u2022 Introduction of Performance-Based Restricted Stock Units (\u201cPRSUs\u201d): We established a long-term performance incentive program, under which each of our NEOs, except for our CEO, Carrie Wheeler, and our CFO, Selim Freiha, who joined the Company in November 2024, were granted PRSUs that were eligible to vest based on achievement of objectives related to homes acquired and homes sold, weighted equally, over the 2024 fiscal year. The details of our long-term performance incentive program, and performance against fiscal 2024 objectives, are as described below under \u201cCompensation Elements\u2013Long-Term Equity Compensation.\u201d" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b345", + "block_sequence": 345, + "block_sha256": "69415a230162088f3c995f3ef7b918e7336fa63ca673ed6b2b63bf43e16f35fa", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 345, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "7c67d88141de5f642dfbc1c5ff1f84f40f39a0590e8ae281d1f5f4fd840a9e60", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "The Evolution of our Executive Compensation Program" + ], + "table_index": null, + 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"norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b351", + "block_sequence": 351, + "block_sha256": "7f6f6658e3bb608ed9b8bfffab059f05d2e5ae3e481ba60cf3f2ac06376636e3", + "block_type": "paragraph", + "char_count": 4761, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 351, + "char_end": 4761, + "char_start": 0, + "fragment_sha256": "4c0c7dafd368848460ba1fa75fcb2e66eb4c96c81219f936c73016b86d731809", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Discussion and Analysis", + "Who We Are", + "Executive Compensation Policies and Practices" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s86", + "table": null, + "text": "We endeavor to maintain sound governance standards consistent with our executive compensation policies and practices. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure that it is consistent with our short-term and long-term goals given the dynamic nature of our business and the market in which we compete for executive talent. The following summarizes our executive compensation and related policies and practices: What We Do: What We Don\u2019t Do: \u2022 A Significant Portion of Compensation is At-Risk. Under our executive compensation program, a significant portion of compensation is \u201cat risk\u201d based on our performance, including short-term cash incentives and long-term equity incentives, to align the interests of our executive officers and stockholders. \u2022 Independent Compensation Committee. The Compensation Committee consists solely of independent directors who establish our compensation policies and practices. \u2022 Independent Compensation Adviser. The Compensation Committee has engaged its own compensation consultant to provide information, analysis and other advice on executive compensation independent of management. This compensation consultant performed no other consulting or other services for us in 2024. \u2022 Annual Executive Compensation Review. The Compensation Committee conducts an annual review and approval of our compensation strategy, including a review and determination of our compensation peer group used for comparative purposes and a review of our compensation-related risk profile. \u2022 Pay-for-Performance Philosophy. The majority of our NEOs\u2019 target total direct compensation opportunities are dependent upon our overall, long-term success as measured through company performance, our stock price and/or total stockholder return, thereby aligning the interests of our NEOs and our stockholders. \u2022 \u201cDouble-Trigger\u201d Change-in-Control Arrangements. Our post- employment compensation arrangements in the event of a change in control of the Company are \u201cdouble-trigger\u201d arrangements that require both a change in control of the Company plus a qualifying termination of employment before payments and benefits are paid. \u2022 Succession Planning. We annually review the risks associated with our key executive officer positions to ensure adequate succession plans are in development. \u2022 Stock Ownership Guidelines. We maintain stock ownership guidelines for our executive officers and directors in order to further promote the alignment of their interests with those of our stockholders. \u2022 Clawback Policy. In November 2023, we adopted a compensation recovery policy as required by Rule 10D-1 under the Exchange Act and the corresponding listing standard adopted by the Nasdaq, which provides for the mandatory recovery of certain erroneously awarded incentive compensation from our executive officers in the event of an accounting restatement to correct the Company\u2019s material noncompliance with any financial reporting requirement under securities laws. \u2022 No Executive Retirement Plans. We do not offer pension plans or other defined benefit retirement plans or arrangements to our NEOs. Our NEOs are eligible to participate in our Section 401(k) retirement savings plan on the same basis as our other eligible full-time employees. \u2022 Limited Perquisites. We provide limited perquisites and other personal benefits to our NEOs and such benefits generally are only provided when they serve a legitimate business purpose. \u2022 No Tax Reimbursements. We do not provide tax reimbursement payments (including \u201cgross-ups\u201d) to our NEOs. \u2022 No Special Welfare or Health Benefits. Our executive officers participate in our broad-based company-sponsored health and welfare benefit plans and programs on the same basis as our other full-time employees. \u2022 No Post-Employment Tax Payment Reimbursement. We do not provide any tax reimbursement payments (including \u201cgross- ups\u201d) on any payments or benefits contingent upon a change in control of the Company. \u2022 No Hedging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from engaging in certain derivative transactions and from hedging our securities, except as otherwise pre-approved by the Board. \u2022 Limited Pledging of Our Equity Securities. We prohibit our executive officers, all other employees and the non-employee members of our Board from holding our securities in a margin account. 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including our executive officers, by ensuring that such programs are aligned to the market, are scalable and flexible for our leaders to operate within, and are simple and clear for our employees to understand. With respect to our executive compensation program, our key objectives are to: \u2022 attract and retain highly qualified executive officers whose skills, experience, and performance are critical to achieving our short-term and long-term financial and strategic objectives; and \u2022 ensure our executive team interests are directly correlated with performance and aligned to the creation of long-term stockholder value. We operate in the competitive and fragmented real estate and technology industries and believe that in order for us to be successful in attracting and retaining an experienced executive team, we must have a robust executive compensation program that provides proper incentives to our executives while focusing on individual and overall company performance. To attract new talent, we must be prepared to be, and be perceived as, an employer that offers competitive compensation, and we believe our executive compensation program is appropriately structured in this regard. We also believe that providing our executive officers with an opportunity to be owners in our business better aligns their interests with those of our stockholders. To achieve our compensation objectives, we historically have provided our executive officers, including our NEOs, with a compensation package consisting of the following elements: Element Type of Element Compensation Element Objective Base Salary Fixed Cash Designed to compensate our executives for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each executive. Annual Performance Bonuses Variable Cash Drives achievement of key corporate performance goals and rewards NEOs for annual performance. Long-Term Incentive Compensation Variable Equity awards in the form of TRSU and PRSU awards that may vest and be settled for shares of our common stock. Drives achievement of key corporate performance goals and rewards NEOs for annual performance. Designed to align the interests of our executives and our stockholders by motivating our executives to create sustainable long-term stockholder value. 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Under its charter, the Compensation Committee has the overall responsibility for overseeing our compensation and benefits policies generally, and overseeing and evaluating the compensation plans, policies and practices applicable to our executive officers." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b362", + "block_sequence": 362, + "block_sha256": "30d3d2b81a0b67d3e1eb1f80d71a47aeb18b0534344cb1e598129a7348e2ff99", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 362, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "81d0c2c6a664d99d436c1cd168a512ac2496f168c786abc4d3efcf95824c406c", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee" + ], + "table_index": 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The Compensation Committee has retained a compensation consultant (as described below) to provide support in its review and assessment of our executive compensation program; however, the Compensation Committee exercises its own judgment in making final decisions or recommendations with respect to the compensation of our executive officers, including our NEOs. The Compensation Committee reviews our executive compensation program annually, and in fiscal 2025, the timing of this review occurred in the first fiscal quarter to take into account our annual operating cadence and to align compensation determinations with the Company\u2019s annual performance and business goals. 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The compensation consultant reports directly to the Compensation Committee and its chair, and serves at the discretion of the Compensation Committee, which reviews the engagement annually. Since 2020, the Compensation Committee has engaged Compensia, Inc. (\u201cCompensia\u201d) to serve as its compensation consultant to advise on executive and non-employee director compensation matters, including competitive market pay practices, and with the data analysis and selection of the compensation peer group. In addition to the work Compensia performed in connection with our executive and director compensation practices, Compensia periodically receives requests for information from us or the Compensation Committee pertaining to individual promotions, equity incentive compensation, potential personnel recruitment and other such situations in which market compensation insight may benefit us or the Compensation Committee. During 2024, Compensia attended the meetings of the Compensation Committee (both with and without management present) as requested and provided various services, including the following: \u2022 the review, analysis and updating of our compensation peer group; \u2022 the Company\u2019s executive compensation philosophy;" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b372", + "block_sequence": 372, + "block_sha256": "b2dee6e4d646f2eecaa9c84c9560dc79bacb2a576c3b39a577f9f39cae7c6411", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 372, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "f9ab0be6f63050444decfd441203a62ee03f977d3172c9c774b3d3f96c53a497", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", 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"norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s91", + "table": null, + "text": "\u2022 consultancy on the design and implementation of our executive long-term incentive program, including the design of our executive PRSU grants for 2024; \u2022 the review and analysis of the base salary levels and long-term incentive compensation opportunities of our executive officers against competitive market data based on the companies in our compensation peer group; \u2022 a competitive market assessment for executive-level management, including analyses for potential new hires; \u2022 consultation with the Compensation Committee chair and other members between Compensation Committee meetings, including with respect to: \u2022 updates on compensation trends; and \u2022 regulatory updates; and \u2022 support on other ad hoc matters throughout the year. The terms of Compensia\u2019s engagement include reporting directly to the Compensation Committee chair. Compensia also coordinated with our management for data collection and informal market comparisons for our executive officers. In 2024, Compensia did not provide any other consulting or other services to us other than the executive and director compensation consulting services described above. The Compensation Committee has evaluated its relationship with Compensia to ensure that Compensia operates independently from management. This review process included a review of the services that Compensia provided, the quality of those services and the fees associated with the services provided during 2024. Based on this review, as well as consideration of the factors affecting independence set forth in Exchange Act Rule 10C-1(b)(4) and Rule 5605(d)(3)(D) of the Nasdaq rules, and such other factors as were deemed relevant under the circumstances, the Compensation Committee has determined that no conflict of interest was raised as a result of the work performed by Compensia." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b378", + "block_sequence": 378, + "block_sha256": "6c48499abc9e22d2bb9a58fa0d524e5022e56c13a6db33b50301099019f92263", + "block_type": "heading", + "char_count": 40, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 378, + "char_end": 40, + "char_start": 0, + "fragment_sha256": "a044edf85c09ec1fcbffcb33a83a9ed66a052f35ae720dbb4aad317d06f5fc0b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Setting Target Total Direct Compensation" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s92", + "table": null, + "text": "Setting Target Total Direct Compensation" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b379", + "block_sequence": 379, + "block_sha256": "bc456a170bdfae14569e7f9f5fd52cb9acf9d25c6006f6dd811e88b0fc4415de", + "block_type": "paragraph", + "char_count": 1967, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 379, + "char_end": 1967, + "char_start": 0, + "fragment_sha256": "27ffe2bfd46c926aa7ba863fee1c3feec2e61a6fbfb513c67a34f4cbb2a91f99", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Setting Target Total Direct Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s92", + "table": null, + "text": "The Compensation Committee conducts an annual review of the compensation arrangements of our executive officers, including our NEOs. As part of this review, the Compensation Committee evaluates the base salary levels, any sign-on and retention bonuses, and the long-term incentive compensation opportunities of our executive officers and all related performance criteria. The Compensation Committee does not establish a specific target for formulating the target total direct compensation opportunities of our executive officers. Instead, it evaluates both performance and compensation to ensure that the compensation provided to our executive officers is competitive relative to the compensation paid by similar companies in the same or adjacent industries, including real estate services, traditional and ecommerce retail, transportation, homebuilding, or staffing services with particular emphasis on our peer companies as described below. In making decisions about the compensation of our executive officers, the members of the Compensation Committee rely primarily on considerations of various factors, including the following: \u2022 our executive compensation program objectives; \u2022 our performance against the financial, operational and strategic objectives established by the Compensation Committee and our Board; \u2022 each executive officer\u2019s knowledge, skills, experience, qualifications and tenure relative to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; \u2022 the scope of each executive officer\u2019s role and responsibilities compared to other similarly situated executives at the companies in our compensation peer group and/or in selected broad-based compensation surveys; \u2022 the prior performance of each executive officer, based on a subjective assessment of their contributions to our overall performance, and 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"c0927d26cfe9053695e82aa459a88a3fed9d2b12f38f8a4b5f3e951459871f9f", + "block_type": "paragraph", + "char_count": 1680, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 385, + "char_end": 1680, + "char_start": 0, + "fragment_sha256": "5a3a79adc7808f43107b73619c2fe755f33419e34f4a83beb3f95af718623a05", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Setting Target Total Direct Compensation" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s92", + "table": null, + "text": "\u2022 the potential of each executive officer to contribute to our long-term financial, operational and strategic objectives; \u2022 our CEO\u2019s compensation relative to that of our other executive officers, particularly our other NEOs; \u2022 our financial performance relative to our peers; \u2022 specific input from stockholders on our executive compensation program in creating the design of our executive compensation program in subsequent years; \u2022 each executive officer\u2019s mix of (i) performance-based and non-performance-based pay and (ii) short-term and long-term compensation; \u2022 the compensation practices of our compensation peer group and the companies in selected broad-based compensation surveys and the positioning of each executive officer\u2019s compensation in a ranking of peer company compensation levels based on an analysis of competitive market data; and \u2022 the recommendations of our CEO with respect to the compensation of our executive officers (except with respect to her own compensation). These factors provide the framework for compensation decision-making and final decisions by the Compensation Committee or its recommendations to our Board for final decisions regarding the compensation opportunity for each executive officer. The Compensation Committee does not weigh these factors in any predetermined manner, nor does it apply any formulas in developing its compensation decisions or recommendations. The members of the Compensation Committee consider this information in light of their individual experience, knowledge of the Company, knowledge of the competitive market, knowledge of each executive officer and business judgment in making decisions and recommendations." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b386", + "block_sequence": 386, + "block_sha256": "0bc10fa0c6f4b68549747d012255403334f93700d84388ed0f762d3425b1dda3", + "block_type": "heading", + "char_count": 38, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 386, + "char_end": 38, + "char_start": 0, + "fragment_sha256": "88cd41da4d5ad22b2c3db262279e4a719ef0eb0617ee3a6cd07c4e46f3ceffd2", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s93", + "table": null, + "text": "Peer Group and Competitive Positioning" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b387", + "block_sequence": 387, + "block_sha256": "40bab65ec5b6f52ad85e87f5efdfdc4b5a573094aafb6b2ddd3dede6d632bc3e", + "block_type": "paragraph", + "char_count": 2069, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 387, + "char_end": 2069, + "char_start": 0, + "fragment_sha256": "34dbce0b89d389193821e8289508a6f9d0f3ff61390e1a5f317f01b18d9c1037", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation-Setting Process", + "Role of the Compensation Committee", + "Peer Group and Competitive Positioning" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s93", + "table": null, + "text": "The Compensation Committee believes that comparisons with companies with similar financial characteristics and business profiles are useful guides to evaluate the competitiveness of our executive compensation program and related policies and practices. The Compensation Committee uses data drawn from a select peer group of companies to make decisions with respect to the compensation of our executive officers, including our NEOs. The Compensation Committee uses the peer group compensation data as one of several factors in assessing executive pay program design and total equity utilization. We also supplement the data for our peer group with published compensation surveys where appropriate. The Compensation Committee\u2019s compensation decisions are made on a case-by-case basis. Benchmark results do not, in and of themselves, determine individual compensation decisions and we do not target specific pay percentiles. Overall, we believe that use of information from the peer group enables the Compensation Committee to create better alignment between executive pay and performance and to help ensure that we can attract and retain high-performing executive leaders. The Compensation Committee evaluated the peer groups of companies identified below, as recommended by Compensia and approved by the Compensation Committee for purposes of determining executive compensation for each respective period. The companies in this peer group were selected based on the following primary criteria, for each respective period: Fiscal 2024 Criteria Fiscal 2025 Criteria \u2022 Revenue, \u2022 Market capitalization, \u2022 Gross profit, and \u2022 Public companies in the same or adjacent industry, including consumer-focused technology-enabled services, real estate services, traditional and ecommerce retail, or software and services. \u2022 Gross margin, \u2022 Gross profit, \u2022 Market capitalization, \u2022 Revenue, and \u2022 Public companies in the same or adjacent industry, including consumer-focused real estate services, traditional and ecommerce retail, transportation, homebuilding, or staffing services." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b388", + "block_sequence": 388, + "block_sha256": "7dd14264a5b62a7dec79bd84b069d1aa57a0c81bf60b99d11a480ba0c884ea12", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + 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The impact of these changes will influence executive compensation decisions made in 2025. Fiscal 2024 Peer Group Fiscal 2025 Peer Group General Peers Industry Peers General Peers Industry Peers Angi Beyond BlackKnight CarGurus CarParts.com Cars.com Carvana Co. Dropbox Etsy Frontdoor Lyft Nextdoor Holdings Peloton Interactive SoFi Technologies StitchFix Yelp Anywhere Real Estate Compass eXp World Holdings Offerpad Solutions Redfin Zillow Group Beyond Carvana Co. Chewy Frontier Group Holdings Hertz Global Holdings Insperity Kelly Services LendingClub Lyft Peloton Interactive Stitch Fix Wayfair Anywhere Real Estate Compass Dream Finders Homes eXp World Holdings Landsea Homes Offerpad Solutions Redfin Zillow Group All compensation decisions made in February 2024 utilized the Fiscal 2024 Peer Group identified above." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b394", + "block_sequence": 394, + "block_sha256": "1cc60942cba10eaf05c56dc6effb5c944fe4a6621f92822613d9be160cff8c17", + "block_type": "heading", + "char_count": 27, + "level": 4, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 394, + "char_end": 27, + "char_start": 0, + "fragment_sha256": "130715dc3e147416490a5719542d6e97e8568e6399f7e115644a13666e8ec321", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s94", + "table": null, + "text": "AnchorCompensation Elements" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b395", + "block_sequence": 395, + "block_sha256": "30fdfd65bc3b395d0f4bb45b3c6300490afcf22f5da63ad0042084b33d761efe", + "block_type": "paragraph", + "char_count": 319, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 395, + "char_end": 319, + "char_start": 0, + "fragment_sha256": "db375f9a83ce7970447f12f85bb627aa8ce911db4e8aa60b037418ff6ead881d", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s94", + "table": null, + "text": "For 2024, our executive compensation program consisted of three principal elements \u2013 base salary, annual performance bonuses, and long-term incentive equity incentives in the form of TRSUs and PRSUs. It also included participation in our executive severance plan and our broad-based health and welfare benefit programs." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b396", + "block_sequence": 396, + "block_sha256": "7d47f55d1e77e7e55812cc4d92e0f15bd56d7869d89df144ceec44c012d64d7d", + "block_type": "heading", + "char_count": 13, + "level": 6, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 396, + "char_end": 13, + "char_start": 0, + "fragment_sha256": "1a77865ed599c69b103af9c498733fefcecb0f34713d9c3412e73f170372d9bc", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s95", + "table": null, + "text": "Base Salaries" + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b397", + "block_sequence": 397, + "block_sha256": "6cbde9e3132a0b39522278f199197067d5ae5b301fc19ee3f147cdcff2b5763b", + "block_type": "paragraph", + "char_count": 2696, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 397, + "char_end": 2696, + "char_start": 0, + "fragment_sha256": "cb2213048b5d06ec672fc5718d1c60b40a35f405887ca651f87a22db221c7e90", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s95", + "table": null, + "text": "We provide a base salary as a fixed source of compensation for our executive officers, including our NEOs, allowing them a degree of certainty relative to the portion of their variable compensation, which consists of equity awards with values that are generally tied to the price of our common stock. The Compensation Committee recognizes the importance of base salaries as an element of compensation that helps to attract and retain highly qualified executive talent. The initial base salaries of our executive officers were established at the time they entered into an employment offer letter or confirmatory employment offer letter with us and took into account their qualifications, experience, comparable market data and prior base salary level. The Compensation Committee reviews the annual base salaries of our executive officers, including our NEOs, as part of its annual review of the compensation arrangements of our executive officers, taking into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our CEO (except with respect to her own annual base salary) and the factors set forth in \u201cCompensation-Setting Process \u2013 Setting Target Total Direct Compensation\u201d above. In February 2024, the Compensation Committee determined to increase the annual base salaries of our NEOs, except for Ms. Wheeler, for 2024, taking into account market data from our peer group to be competitive with similarly situated executives at our peer companies and each NEO\u2019s contributions and criticality to the Company. Name Annual Salary Rate for FY23 Annual Salary Rate for FY24 Carrie Wheeler $750,000 $750,000 Selim Freiha(1) \u2014 $500,000 Sydney Schaub $350,000 $425,000 Christina Schwartz(2) $350,000 $400,000 Megan Meyer Toolson(3) $400,000 $500,000 (1) Mr. Freiha\u2019s base salary was determined in connection with the Freiha Offer Letter (as defined below). See \u201cEmployment Offer Letters\u201d below for more information. (2) In connection with Mr. Freiha\u2019s appointment as our CFO and Ms. Schwartz\u2019s transition from her position as interim Chief Financial Officer to Chief Accounting Officer, in order to ensure Ms. Schwartz\u2019s continued engagement and a successful CFO transition, Ms. Schwartz and the Company entered into the Schwartz Transition Agreement (as defined below). Pursuant to the Schwartz Transition Agreement, Ms. Schwartz\u2019s monthly base salary was increased from $33,333.33 to $67,666.67, effective as of November 4, 2024 and ending on May 2, 2025, resulting in total base compensation of $452,917 in fiscal 2024 for Ms. Schwartz. See \u201cPost-Employment Compensation\u2013Transition Agreement with Christina Schwartz\u201d below for more information." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b398", + "block_sequence": 398, + "block_sha256": "2698221fe58b96e8d5648d1afe948d305504ec08947b6a80998803421bcad5d3", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 398, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "a1eac44f81a9934c9630f3be1f93258608d80964e993fb881af3c3639b81a16b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries" + ], + "table_index": null, + "tag_name": "div" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s95", + "table": null, + "text": "36 Opendoor 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"block_sequence": 405, + "char_end": 4457, + "char_start": 0, + "fragment_sha256": "4726303be90d776c6d59a21904a611ce212241c9c3374b2900b78a2ff4967b57", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Annual Cash Performance Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s96", + "table": null, + "text": "For 2024, our Compensation Committee established a formal annual bonus program under which each NEO (other than Mr. Freiha) was eligible for a 2024 performance bonus based upon the achievement of pre-established corporate performance goals approved by our Compensation Committee. Pursuant to his offer letter with us, Mr. Freiha\u2019s annual bonus for 2024 was guaranteed (subject to the repayment conditions described below under \u201cEmployment Offer Letters\u201d), rather than subject to achievement of performance goals under the annual performance bonus plan. Target bonuses are set as a percentage of the NEO\u2019s base salary earned during the bonus year and are expected to be paid out in the first quarter of the following year. Our NEOs\u2019 target bonuses for 2024 are set forth in the table below. Name Target Bonus (as % of base salary) Carrie Wheeler(1) 33.3% Selim Freiha(2) \u2014 Sydney Schaub 50% Christina Schwartz 40% Megan Meyer Toolson 50% (1) Represents Ms. Wheeler\u2019s annual cash bonus opportunity as a percentage of her base salary. For fiscal 2024 her bonus target was set at $250,000 pursuant to the terms of her offer letter in connection with her appointment as CEO in December 2022. (2) Pursuant to the Freiha Offer Letter (as defined below), Mr. Freiha will become eligible to participate in the annual bonus program beginning in fiscal 2025, and his target bonus will be 50% of his base salary, unless otherwise determined by the Compensation Committee. Refer to \u201cEmployment Offer Letters\u201d below for more details. In March 2024, the Compensation Committee established the corporate performance metric and goals for the year. This metric was set by the Compensation Committee after considering management input and our overall strategic objectives. All final bonus payments to our NEOs are determined by our Compensation Committee. The actual bonuses awarded in any year, if any, may be more or less than the target, depending on the achievement of corporate objectives and may also vary based on other factors at the discretion of the Compensation Committee. Under our 2024 annual bonus plan, the maximum bonus payable to an NEO was 125% of her target bonus. Performance Measures. The corporate performance metric for the 2024 cash performance bonuses was ANI, which is aligned with our goal of driving the Company to sustainable, profitable growth and moving to a positive cash flow position. ANI is a non-U.S. Generally Accepted Accounting Principles (\u201cGAAP\u201d) measure and is calculated as GAAP net income (loss) adjusted to exclude certain non-cash expenses, certain expenses that are not directly related to our revenue-generating operations, and loss (gain) on extinguishment of debt. ANI also aligns the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue is recorded. As a result, we believe ANI better reflects our cash flow position than GAAP net income (loss). A detailed definition and full reconciliation of ANI to its most directly comparable GAAP financial measure are included in Annex A attached to this proxy statement. Performance Periods. The 2024 annual bonus program has two performance periods: a semi-annual performance period covering the period January 1, 2024 through June 30, 2024 (\u201cFirst Half\u201d); and an annual performance period covering the period January 1, 2024 through December 31, 2024 (\u201cFull Year\u201d). In determining any bonus for the Full Year performance period, the payout otherwise earned based on attainment of the corporate performance goal would be reduced by any bonus paid for the First Half performance period. Performance Levels. The goals for ANI were set at levels that we consider to be rigorous and challenging, based in part on our evaluation of the relevant risks and opportunities. The threshold and maximum performance levels were set at, respectively, 75% and 100% for the First Half performance period, and 75% and 125% for the Full Year performance period, which we believed required strong execution for any payout with respect to the corporate objectives and represented a significant challenge. Payout levels represent the amount to be paid to NEOs based on the level of actual performance relative to the goals. In order to motivate performance and underscore the importance of achieving, or closely approaching, the performance goals, the Compensation Committee set the payout at 0% for achievement below the threshold level of performance." + }, + { + "block_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#b406", + "block_sequence": 406, + "block_sha256": "57a4333f7463d2ee16495b11cc685b3ecc5de6ffc72282a7c024107adcdce3ad", + "block_type": "paragraph", + "char_count": 53, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 406, + "char_end": 53, + "char_start": 0, + "fragment_sha256": "e721ba358282f2d912db9cc4b7d6c480aa517916fedb4de1026eb7a67649567b", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Annual Cash Performance Bonuses" + ], + "table_index": null, + "tag_name": 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411, + "block_sha256": "de39e228ef3cf91a22ce40f20a7ce2080657f34d5909085cfccf830a0c4b86ab", + "block_type": "paragraph", + "char_count": 1459, + "level": null, + "locator": { + "artifact_id": "sec:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm", + "block_sequence": 411, + "char_end": 1459, + "char_start": 0, + "fragment_sha256": "9401448b11219e0a0cfd6e0c45e73c937db0c231d12e2030b72c833ce6a343e9", + "heading_path": [ + "OPENDOOR TECHNOLOGIES INC.", + "viewing and downloading at www.proxyvote.com.", + "AnchorProposals", + "AnchorCompensation Elements", + "Base Salaries", + "Annual Cash Performance Bonuses" + ], + "table_index": null, + "tag_name": "sec-parser-merged-text" + }, + "section_id": "norm:0001801169:0001140361-25-015722:ny20044754x1_def14a.htm#s96", + "table": null, + "text": "The performance levels and corresponding goals for each performance period under the 2024 annual bonus plan are summarized in the table below. ANI (in millions) Performance Level Payout as a % of Target First Half Metric Full Year Metric